Class H Units Clause Samples

The 'Class H Units' clause defines a specific category of ownership or equity interests within a company or investment fund, known as Class H Units. This clause typically outlines the rights, privileges, and obligations associated with holding these units, such as voting rights, dividend entitlements, or priority in distributions. For example, Class H Units may have limited or no voting power but could be entitled to a preferred return on investment. The core function of this clause is to clearly distinguish the characteristics of Class H Units from other classes, ensuring transparency and preventing disputes among stakeholders regarding their respective rights and benefits.
Class H Units. Class H Units are sold at net asset value, without an initial sales charge. As of November 6, 2017, Bright Start Class H Units were re-designated as Class H Units in the Program. Only Account Owners who purchased Class H Units prior to July 23, 2007 through brokers other than Citigroup Global Market Inc.’s ▇▇▇▇▇ ▇▇▇▇▇▇ division are eligible to purchase Class H Units in their existing Class H Units Accounts. Class H Units do not incur an ongoing annual account servicing fee. Whether there are any additional transaction, service, administrative, or other fees charged directly by a broker or financial advisor with respect to an Account is a matter between the Account Owner and such broker or financial advisor and is not a feature of the Program. The following tables set forth the Program’s estimate of the fees and expenses applicable to the Age-Based, Target, and Individual Fund Portfolios. The actual expenses of each Portfolio may be different. The “Total Annual Asset-Based Fees” estimated below include the program management and state administrative fee assessed against each Portfolio as described above, as well as any applicable annual servicing fees under Fee Structure A, C, E, F, G, or H.
View SourceView Similar (4)
Class H Units. Each Class H Unit outstanding immediately prior to the Effective Time shall be cancelled and extinguished and no cash or other consideration shall be paid with respect thereto.
View Source
Class H Units. (a) The General Partner may, from time to time, issue up to 50,000 Class H Units in the aggregate to employees, consultants and advisors or non-voting observers to the board of directors of the Partnership, the General Partner or any Subsidiary of the Partnership or the General Partner, under such terms as the General Partner may determine in its discretion. Each issuance shall be reflected in an award agreement with the recipient that shall set forth the terms of the Class H Units, including applicable vesting requirements and transfer restrictions. Each Class H Unit shall be entitled to share in distributions by the Partnership as provided in Section 5.3 subject to the limitations set forth in the award agreement for such Class H Unit. Each holder of Class H Units shall automatically be admitted as a limited partner of the Partnership upon such holder’s acquisition of Class H Units. (b) Immediately prior to the consummation of a Public Offering, if the Contingent Payment Threshold would be achieved in such Public Offering (assuming the REIT Investors were to fully participate in such offering, and after deducting underwriting discounts and commissions from the initial public offering price in respect of REIT Shares actually sold by the REIT Investors in such Public Offering, and after taking into account the dilution to the REIT Investors that would result by assuming the exercise of all then exercisable REIT Stock Equivalents granted under any Equity Incentive Plan), the Class H Units held by each Class H Unitholder shall, in conjunction with the recapitalization transaction described in Section 7.9, automatically convert into a number of common limited partner interests in the Partnership (or common limited partner interests of any successor partnership resulting from any restructuring transactions consummated in connection with such Public Offering) issued in connection with such transaction that are exchangeable for a number of REIT Shares (rounded to the nearest whole unit) equal to (i) the quotient obtained by dividing (A) the aggregate amount not to exceed the Class H Payment Amount, by which (1) the sum of (x) the distributions of cash, cash equivalents and marketable securities received by the REIT Investors through and including the time of such Public Offering, (y) the value of the REIT Shares to be held by the REIT Investors immediately following such Public Offering (with such value based on the initial public offering price for such REIT Sh...
View Source
Class H Units. Are not entitled to voting rights. Participation in distributions issued by the Company will depend on the gross income generated by this Class and shall be determined at the sole discretion of the Board from time to time. This class shall not participate in the losses of the Company.
View Source

Related to Class H Units

  • Class B Units Class B Unitholders shall not be entitled to vote in any matters relating to the Company, unless otherwise reserved to the Members by the Act. In addition to the other rights and obligations of Class B Unitholders hereunder, Class B Units shall entitle the holder of such Class B Units to (i) Tax Distributions pursuant to Section 4.01(b), and (ii) a preferred return equal to the Class B Preferred Return Amount. The Class B Preferred Return Amount shall not be required to be paid annually but shall accrue and become payable at the earlier of (x) the fifth (5th) anniversary of the Effective Time, or (y) a liquidation of, or a taxable sale of substantially all of the assets of, the Company. Upon the occurrence of an event referenced in clause (y) above, each Class B Unitholder shall also be paid such Class B Unitholder’s Class B Preferred Return Base Amount, in addition to all of the outstanding, accrued and unpaid Class B Preferred Return Amount. On the seventh (7th) anniversary of the Effective Time, each Class B Unitholder may, at its option and in accordance with the notice and other procedural provisions set forth in Section 11.01(a) (the “7 Year Put Option”), sell all (but not less than all) of its Class B Units to the Company for an amount equal to such Class B Unitholder’s Class B Preferred Return Base Amount plus any outstanding and accrued Class B Preferred Return Amount of such Class B Unitholder (the “Class B Option Consideration”) and, upon the exercise of the 7 Year Put Option by any Class B Unitholder, the Company shall purchase all of such holder’s Class B Units for the Class B Option Consideration. Notwithstanding anything herein to the contrary, no Class B Preferred Return Amount shall be due and payable with respect to such Class B Units pursuant this Section 3.02(b) at such time or times specified in this Section 3.02(b) unless such Class B Units remain issued and outstanding at such time or times and no Redemption or Direct Exchange of such Class B Units described in Article XI hereof has occurred.

  • Class A Units If a Warrantholder exercises Warrants in connection with a tender offer for settlement prior to the First Regular Call Date, each Class A Unit called in connection with such exercise shall receive, in addition to principal and accrued interest, $1.50 per Class A Unit from the proceeds of the Warrant exercise. Class B Payments: If a Warrantholder exercises Warrants, then the Class B Units designated to be called in connection with such exercise shall receive the corresponding portion of the Class B Present Value Amount, adjusted for accrued Class B Payments on the Class B Units otherwise paid. If the Underlying Security Issuer redeems Underlying Securities and the previous paragraph does not apply, then the Class B Units designated for a redemption in connection with such redemption of Underlying Securities shall receive the amount with respect to the Class B Present Value Amount allocated for distribution in accordance with the applicable provisions of the Distribution Priorities below, paid as of the date of such redemption as an additional distribution.

  • Common Units The capital structure of the Company shall consist of one class of common interests (the "Common Units"). The Company shall have authority to issue one thousand (1,000) Common Units. Each Common Unit shall have one vote and shall otherwise be identical with each other Common Unit in every respect.

  • Preferred Units Notwithstanding anything to the contrary, the provisions of Section 14.3 are not applicable to Preferred Units or the holders of Preferred Units. Holders of Preferred Units shall have no voting, approval or consent rights under this Article XIV. Voting, approval and consent rights of holders of Preferred Units shall be solely as provided for and set forth in Article XVI.

  • Ltip Units (a) The General Partner may from time to time issue LTIP Units to Persons who provide services to the Partnership, for such consideration as the General Partner may determine to be appropriate, and admit such Persons as Limited Partners. Subject to the following provisions of this Section and the special provisions of Sections 4.5, 5.1(e), and 8.6, LTIP Units shall be treated as Limited Partnership Units, with all of the rights, privileges and obligations attendant thereto. For purposes of computing the Partners’ Percentage Interests, LTIP Units shall be treated as Common Units. (b) The Partnership shall maintain at all times a one-to-one correspondence between LTIP Units and Limited Partnership Units for conversion, distribution and other purposes, including without limitation complying with the following procedures: If an Adjustment Event (as defined below) occurs, then the General Partner shall make a corresponding adjustment to the LTIP Units to maintain a one-for-one conversion and economic equivalence ratio between Limited Partnership Units and LTIP Units. The following shall be “Adjustment Events:”