Examples of Series A-1 Unit in a sentence
Each “Series A-1 Unit” and “Series A-2 Unit” shall represent an Interest in the Partnership, shall be designated as a Series A-1 Unit or Series A-2 Unit of the Partnership and shall be entitled to the Distributions provided for in Article V.
To the extent that any such unvested Units shall be forfeited by or repurchased from such Series B Member without having ceased to be an unvested Unit, such amounts shall be distributed or paid to the Series A-1 Members pro rata in accordance with their Series A-1 Unit Sharing Percentages.
Nonrecourse Liabilities of the Company described in Treasury Regulations Section 1.752-3(a)(3) shall be allocated to the Members in accordance with their respective Percentage Interests, and then further allocated among the Series A-1 Members and the Series B Members as follows: 98% to the Series A-1 Members pro rata in accordance with their respective Series A-1 Unit Sharing Percentages and 2% to the Series B Members pro rata in accordance with their respective Series B Unit Sharing Percentages.
Once a Series A-1 Unit or Series B-1 Unit has been charged selling commissions totaling 10% of the sale price of such Unit, the Unit will not be charged any further selling commissions and the net asset value of such Unit will be recalculated, and the Unit will be redesignated, in terms of Series A-2 Units or Series B-2 Units, as applicable, against which selling commissions are not charged.
Nonrecourse Deductions for any taxable period shall be allocated to the Members in accordance with their respective Percentage Interests, and then further allocated among the Series A-1 Members and the Series B Members as follows: 98% to the Series A-1 Members pro rata in accordance with their respective Series A-1 Unit Sharing Percentages and 2% to the Series B Members pro rata in accordance with their respective Series B Unit Sharing Percentages.
This is particularly the case where there is a desire to circumvent the rules.
The Company has issued 60,000,000 Series A-1 Preferred Units at a purchase price of $5.00 per Series A-1 Preferred Unit pursuant to the Series A-1 Unit Subscription Agreement.
Pursuant to the Series A-1 Unit Purchase Agreement, as amended, the Company issued 2,970,000 and 1,664,911 units of Series A-1 at a purchase price of $11.111111 per unit in 2019 and 2020, respectively, for the total gross proceeds of $51,499,011.
Pursuant to the Purchase Agreement, LPC initially purchased 956,938 Series A-1 Units at a purchase price of $2.09 per unit, with each Series A-1 Unit consisting of (a) one share of Common Stock and (b) one warrant to purchase one-quarter of a share of Common Stock at an exercise price of $2.40 per share, or Series A-1 Warrant.
In the wake of a Cash Trap Event, cash was not available to pay the Debtors’ costs of operations, including capital expenditures beyond a small reserve, other than as budgeted in their annual budget that, under the Cash Management Agreement, was subject to the approval of the lenders; and no distributions to equity holders could be made, other than to Preferred Series A-1 Unit holders, unless the “Debt Yield” equaled or exceeded 7.75%.