Units Issued Sample Clauses
The "Units Issued" clause defines the number and type of ownership units or shares that have been created and distributed by an entity, such as a company or partnership. It typically specifies the total units authorized, how many have been issued to investors or founders, and may outline the process for issuing additional units in the future. This clause ensures transparency regarding ownership structure and helps prevent disputes by clearly documenting who holds what portion of the entity.
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Units Issued. The consideration for each Owner's Interests shall be the number of Units as set forth in such Owner's Supplemental Acquisition Schedule. The number of such Units is subject to adjustment at Closing due to principal payments on any mortgage loan, prorations and post-closing adjustments as provided in the Master Agreement (as defined below). For the first fiscal quarter of ▇▇▇▇▇▇-▇▇▇▇▇ ending after the date of Closing, partnership distributions attributable to such quarter payable by ▇▇▇▇▇▇-▇▇▇▇▇ to Owner pursuant to Section _____ of the Partnership Agreement (as defined at Paragraph 3.E(i) below) shall be prorated to take into account the period of time during such quarter that the Owner or its successors in interest to the Units is a limited partner in ▇▇▇▇▇▇-▇▇▇▇▇. The Owner shall receive, contemporaneously with receipt by the other limited partners in ▇▇▇▇▇▇- ▇▇▇▇▇ of their respective distributions for such quarter, that portion of a full quarterly distribution otherwise attributable to its Units determined by multiplying the amount of such full distribution by a fraction the numerator of which is the number of days during such quarter that the Owner is a limited partner in ▇▇▇▇▇▇-▇▇▇▇▇ and the denominator of which is the number of days in such quarter. In the event that the Owner receives a full cash distribution for such period, it shall reimburse ▇▇▇▇▇▇-▇▇▇▇▇ the prorated portion of such distribution within five (5) days of receipt.
Units Issued. 2 B. The Lock-Up.....................................................2
Units Issued. The consideration for each Owner's Interests shall be the number of Units as set forth in such Owner's Acquisition Schedule, subject to the provisions of Paragraph 4 below. The number of such Units is subject to adjustment at Closing due to principal payments on any mortgage loan, prorations and post-closing adjustments as provided in the Master Agreement (as defined below). For the first fiscal year (or other period over which distributions are paid) of Carolina ending after the date of Closing, partnership distributions, if any, attributable to such year (or other period) payable by Carolina to Owner pursuant to Section 5.1 of the Partnership Agreement (as defined at Paragraph 3.E(i) below) shall be prorated to take into account the period of time during such year (or other period) that the Owner or its successors in interest to the Units is a limited partner in Carolina. The Owner shall receive, contemporaneously with receipt by the other limited partners in Carolina of their respective distributions for such year (or other period), that portion of a full distribution otherwise attributable to its Units determined by multiplying the amount of such full distribution by a fraction the numerator of which is the number of days during such year (or other period) that the Owner is a limited partner in Carolina and the denominator of which is the number of days in such year (or other period). In the event that the Owner receives a full cash distribution for such period, it shall reimburse Carolina the prorated portion of such distribution within five (5) days of receipt.
Units Issued. The consideration for each Contributor's Interests shall be the number of Units and the amount of cash as set forth in the Acquisition Schedule, subject to the provisions of Section 3.4 below, and subject to any reallocation as between cash and Units by individual Contributors. The Units and cash are allocated among the Properties to derive a value for each Property, based upon a Unit value of $9.50, as shown in Schedule B (the "Allocated Property Value"). The number of such Units and the amount of cash are subject to adjustment at Closing due to prorations and post-closing adjustments as provided herein.
Units Issued. The consideration for each Contributor's Interests shall be the number of Units and the amount of cash as set forth in the Acquisition Schedule, subject to the provisions of Section 3.4 below. The Units and cash are allocated among the Properties to derive a value for each Property, based upon a Unit value of $9.50, as shown in Schedule B (the "Allocated Property Value"). The number of such Units and the amount of cash are subject to adjustment at Closing due to (i) prorations and post-closing adjustments as provided herein and (ii) in respect of the decisions of individual investors in the Constituent Partnerships to elect Units or cash.
Units Issued. The consideration for each Owner's Interests shall be (i) the number of Units as set forth in such Owner's Acquisition Schedule and (ii) a cash payment in the amount of $2,111,468, less the Withheld Cash (as hereinafter defined), subject in each case to the provisions of Paragraph 4 below. The number of such Units and amount of cash are subject to adjustment at Closing due to principal payments on any mortgage loan, prorations and post-closing adjustments as provided in the Master Agreement (as defined below). For the first fiscal year (or other period over which distributions are paid) of the Operating Partnership ending after the date of Closing, partnership distributions, if any, attributable to such year (or other period) payable by the Operating Partnership to Owner pursuant to Section 5.1 of the Partnership Agreement (as defined at Paragraph 3.E(i) below) shall be prorated to take into account the period of time during such year (or other period) that the Owner or its successors in interest to the Units is a limited partner in the Operating Partnership. The Owner shall receive, contemporaneously with receipt by the other limited partners in the Operating Partnership of their respective distributions for such year (or other period), that portion of a full distribution otherwise attributable to its Units determined by multiplying the amount of such full distribution by a fraction the numerator of which is the number of days during such year (or other period) that the Owner is a limited partner in the Operating Partnership and the denominator of which is the number of days in such year (or other period). In the event that the Owner receives a full cash distribution for such period, it shall reimburse the Operating Partnership the prorated portion of such distribution within five (5) days of receipt.