Class A Shares definition
Examples of Class A Shares in a sentence
Any Series Designation may provide that any action required or permitted to be taken by the holders of the associated Class A Shares may be taken without a meeting by the written consent of such holders or by Members entitled to cast a sufficient number of votes to approve the matter as required by statute or this Agreement, as the case may be.
Funds for consummation of the Purchase will come from the offer and sale of Class A Shares in the Series (“Series Shares”) to investors pursuant to the Offering.
Investors that are not “accredited investors” as such term is defined under Rule 501(a) of Regulation D may not acquire Class A Shares in the Series if it would result in their investment in the Company exceeding 10% of the greater of the individual’s annual income or net worth, or in the case of an entity, 10% of its net income or net worth, in each case as certified by the Investor in its Investor Agreement and Subscription Agreement.
The Class A Shares so acquired represent, indirectly, a fractionalized ownership interest in the underlying Series Asset owned by the Series through its associated SP.
Benefit Plan Investors may not acquire in the aggregate more than 24.9% of the Class A Shares in the Series.