Class P Clause Samples

The "Class P" clause defines a specific category or class of shares, rights, or participants within a legal or contractual framework. Typically, this clause outlines the unique privileges, restrictions, or obligations associated with Class P, such as voting rights, dividend entitlements, or priority in distributions. For example, Class P shares might have preferential treatment in profit sharing or liquidation events compared to other classes. The core function of this clause is to clearly distinguish the rights and responsibilities of Class P from other classes, ensuring clarity and preventing disputes regarding entitlements or governance.
Class P. Class I-B-4, Class I-B-5, Class I-B-6, Class II-B-4, Class II-B-5 and Class II-B-6 Certificates. Rating Agencies........................ Moody's and S&P. Re▇▇▇▇▇ ▇ertificates................... All Classes of Certificates other than the Class A-R Certificates. Residual Certificate................... Class A-R Certificates. Retained Certificates.................. Class PO, Class A-X, Class II-B-1, Class II-B-2 and Class II-B-3 Certificates.
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Class P. The General Partner may, if approved by Class P Majority Approval, allocate, for any taxable period, up to one hundred percent (100%) of any items of income or gain (or any portion thereof) resulting from any Class P Transaction in respect of the Class P Units to the Class P Limited Partners, Pro Rata. In any taxable period that begins at least five (5) years after the taxable period for which any allocations are made pursuant to the immediately preceding sentence (a “Class P Offset Period”), the Class P Limited Partners may, but only if approved by, and in such time and such manner as determined by, Class P Majority Approval, be specially allocated up to one hundred percent (100%) (or such lesser portion as may be determined by Class P Majority Approval) of any items of loss or deduction in respect of the Class P Units until the cumulative amount allocated pursuant to this sentence is equal to the aggregate amount of income or gain allocated to Class P Limited Partners pursuant to the immediately preceding sentence in such earlier tax period. The Class P Limited Partners shall deliver notice to the General Partner of any Class P Majority Approval of any such special allocation of items of loss or deduction in respect of the Class P Units pursuant to the immediately preceding sentence during any Class P Offset Period within one hundred fifty (150) days after the close of the applicable tax year to which such special allocation relates. For the avoidance of doubt, no allocations of “book” items shall be made to the Class P Limited Partners in respect of such Class P Units except as set forth in this Section 6.1(b)(xi).
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Class P. After distribution of the Amount Available under Sections 8.07(d) and (e), and provided the Payment Date is one subsequent to the month in which Prepayment Charges are no longer collectible on any Loan, to the Class P Certificateholder (pro rata in respect of the Class P(F) and Class P(V) Interests) until the Class P Principal Balance is reduced to zero. On each Payment Date, Prepayment Charges shall be paid to the Class P Certificate in the amount described in Section 8.04(f)(i).
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Class P. Class B-1, Class B-2 and Class B-3 Certificates. Rating Agencies..................... S&P and Moody's. Regular Certificates................ All Classes of Certificates, other than the Residual Certificates. Residual Certificates............... The Class A-R Certificates. Senior Certificate Group............ Group 1 Senior Certificates and Group 2 Senior Certificates, as applicable.
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Class P. The Class A-1 Interest will bear interest during each Interest Accrual Period at a per annum rate equal to (a) on or prior to the Optional Termination Date, the lesser of (i) LIBOR plus the applicable Interest Margin and (ii) the Available Funds Cap or (b) after the Optional Termination Date, the lesser of (i) LIBOR plus the applicable Interest Margin and (ii) the Available Funds Cap.
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Class P. The Class A-1 Interest will bear interest during each Interest Accrual Period at a per annum rate equal to (a) on or prior to the Optional Termination Date, the lesser of (i) LIBOR plus the applicable Interest Margin and (ii) the Available Funds Cap or (b) after the Optional Termination Date, the lesser of (i) LIBOR plus the applicable Interest Margin and (ii) the Available Funds Cap. For purposes of the REMIC Provisions, the reference to “Available Funds Cap” in clause (ii) of the preceding sentence shall be deemed a reference to the REMIC 3 Net Funds Cap; therefore, on any Distribution Date on which the Interest Rate for the Class A-1 Certificates exceeds the REMIC 3 Net Funds Cap, interest accruals based on such excess shall be treated as having been paid from the Excess Reserve Fund Account or the Supplemental Interest Trust, as applicable; on any Distribution Date on which the Interest Rate on the Class A-1 Certificates is based on the Available Funds Cap, the amount of interest that would have accrued on the Class A-1 Certificates if the REMIC 3 Net Funds Cap were substituted for the Available Funds Cap shall be treated as having been paid by the Class A-1 Certificateholders to the Supplemental Interest Trust, all pursuant to and as further provided in Section 8.11 hereof.
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Class P. Class S-B-4, Class B-4, Class S-B-5, Class B-5, Class S-B-6 and Class B-6 Certificates. Rating Agencies........................... S&P and Moody's. Regular Certificates...................... All Classes of Certificates, other than the Residual Certificates. Residual Certificates..................... Class A-R Certificates. Scheduled Principal Classes............... None. Senior Certificate Group.................. The Group 1 Senior Certificates, the Group 2 Senior Certificates, the Group 3 Senior Certificates or the Group 4 Senior Certificates, as applicable. Senior Certificates....................... Group 1 Senior Certificates, the Group 2 Senior Certificates, the Group 3 Senior Certificates and the Group 4 Senior Certificates. Subordinated Certificate Group............ Aggregate Group I Subordinated Certificates and Aggregate Group II Subordinated Certificates.
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Related to Class P

  • Class Size GRADE LOADING RATIO MAXIMUM CLASS SIZE 7.01 Students shall not be assigned to any class which has reached the maximum class size except as provided within this article. 7.02 The site/program administrator is required to discuss class size at a member’s request if the member’s class exceeds the loading ratio. 7.03 Instrumental and choral music classes may exceed the maximums by 1.5 times. Physical education classes may exceed the maximum by 1.35. 7.04 The site/program administrator shall make a reasonable effort to schedule English composition classes in grades 9-12 with a maximum of 29 students. 7.05 The site/program administrator shall make a reasonable effort to schedule combination classes in which students are assigned to more than one grade level K-3 or 3-4 with a maximum of 29 students and 4-6 with a maximum of 30 students. 7.06 The District will make a reasonable effort, within the financial constraints of the District, to reduce class size maximums in those classes into which special education students are integrated, in remedial classes, and in high school composition classes. 7.07 Special Education Classes shall not exceed the maximum cited in the law. 7.07.1 SDC Class Size SDC 7-12 non-severe caseload maximum shall be 26 beginning July 2002; RSP caseload shall be 28; a. The District shall make a reasonable effort to equalize class sizes as determined by the class roster throughout the District within the grade levels and programs consistent with the needs of the students as set forth in his/her IEP and the unique features of each group. “Reasonable effort” may include, but is not limited to include, busing students on a voluntary basis to other sites, moving students to other classes at that site, or adding an instructional aide. b. Except for Hearing Impaired, Visually Handicapped Preschool, SED, and ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ Center classes, average class size within the SDC program in the District shall not exceed 12 students. The class size for any specific class shall not exceed 17 students. In Hearing Impaired, Visually Handicapped Preschool, SED, and ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ Center classes, the District class size average shall not exceed 10, and any individual class shall not exceed 14. c. The District and the Association agree to establish a Special Education/General Education Oversight Committee composed of seven members of which a majority are teachers. The committee shall recognize that consensus is the preferable decision making process. In cases where consensus is not achievable, all decisions and recommendations shall require five (5) votes. The oversight committee shall be established to oversee, guide, and facilitate the following initiatives: i. Two-year K-12 pilot program that shall include no more than six

  • Class PO Certificates Private Certificates..................................... Class P, Class B-4, Class B-5 and Class B-6 Certificates. Rating Agencies.......................................... Fitch and S&P. Regular Certificates..................................... All Classes of Certificates other than the Class A-R Certificates. Residual Certificate..................................... Class A-R Certificates.

  • Class All REMIC I Regular Interests or the Class R-1 Residual Interest having the same priority and rights to payments on the Mortgage Loans from the REMIC I Available Distribution Amount, all REMIC II Regular Interests or the Class R-2 Residual Interest having the same priority and rights to payments on the REMIC I Regular Interests from the REMIC II Available Distribution Amount, and all REMIC III Regular Interests or the Class R-3 Residual Interest having the same priority and rights to payments on the REMIC II Regular Interests from the REMIC III Available Distribution Amount, as applicable, which REMIC I Regular Interests, REMIC II Regular Interests, REMIC III Regular Interests and Class R Residual Interests, as applicable, shall be designated as a separate Class, and which, in the case of the Certificates (including the Class R Certificates representing ownership of the Class R Residual Interests), shall be set forth in the applicable forms of Certificates attached hereto as Exhibits A and B. Each Class of REMIC I Regular Interests and the Class R-1 Residual Interest shall be entitled to receive the amounts allocated to such Class pursuant to the definition of "REMIC I Distribution Amount" only to the extent of the REMIC I Available Distribution Amount for such Distribution Date remaining after distributions in accordance with prior clauses of the definition of "REMIC I Distribution Amount," each Class of REMIC II Regular Interests and the Class R-2 Residual Interest shall be entitled to receive the amounts allocated to such Class pursuant to the definition of "REMIC II Distribution Amount" only to the extent of the REMIC II Available Distribution Amount for such Distribution Date remaining after distributions in accordance with prior clauses of the definition of "REMIC II Distribution Amount" and each Class of REMIC III Regular Interests and the Class R-3 Residual Interest shall be entitled to receive the amounts allocated to such Class pursuant to the definition of "REMIC III Distribution Amount" only to the extent of the REMIC III Available Distribution Amount for such Distribution Date remaining after distributions in accordance with prior clauses of the definition of "REMIC III Distribution Amount."

  • Class R Certificates Subordinated Certificates.... Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class B-4 Certificates.

  • Senior Certificates The Class 1-A-1, Class 1-A-2, Class 1-A-3, Class 1-X-1, Class 1-X-2, Class 1-X-3 and Class A-R Certificates.