Class B Conversion Rate definition

Class B Conversion Rate means the fraction, the numerator of which is the Net Asset Value Per Unit for each Class B Unit and the denominator of which is the Net Asset Value Per Unit for each Class I Unit.

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Class B Conversion Rate means the lesser of: (a) the quotient obtained by dividing (i) the sum of the Class B Stated Liquidation Preference plus the amount of any accumulated and unpaid distributions on the Class B Preferred Units to, but not including, the Class B Change of Control Conversion Date (unless the Class B Change of Control Conversion Date is after a Class B Distribution Record Date and prior to the corresponding Class B Distribution Payment Date, in which case no accumulated and unpaid Class B Preferred Unit Distribution will be included in this sum) by (ii) the Common Unit Price with respect to the Class B Preferred Units; and (b) the Class B Unit Cap, subject to adjustments of the Common Unit Price with respect to the Class B Preferred Units and the Class B Unit Cap as the General Partner determines to be equitable in view of any splits, combinations or distributions in the form of equity issuances or the payment of any Class B Alternative Conversion Consideration to the holders of the Common Units in connection with the Class B Change of Control.

Class B Conversion Rate means the fraction, the numerator of which is the Class B NAV Per Share and the denominator of which is the Class I NAV Per Share.

Examples of Class B Conversion Rate in a sentence

• B) immediately prior to effectiveness of such Class B Change of Control, convert all or any portion of the Class B Preferred Units held by such Class B Preferred Holder into Common Units, at the Class B Conversion Rate then in effect, in accordance with applicable provisions of Section 5.12(d).

• Immediately before liquidation of the Partnership, Class T Units will automatically convert to Class I Units at the Class T Conversion Rate, Class S Units will automatically convert to Class I Units at the Class S Conversion Rate, Class D Units will automatically convert to Class I Units at the Class D Conversion Rate and Class B Units will automatically convert to Class I Units at the Class B Conversion Rate.

• At any time after [•]1, the Class B Units owned by any Class B Unitholder shall be convertible, in whole or in part, at any time and from time to time upon the request of such Class B Unitholder, but not more than once per Quarter by such Class B Unitholder, into a number of Common Units determined by multiplying the number of Class B Units to be converted by the applicable Class B Conversion Rate at such time.

• In the event of any liquidation, dissolution or winding up of the Partnership, either voluntary or involuntary, the Outstanding Class B Units shall be automatically converted, without requirement of any action of the Class B Unitholders, into Common Units at the Class B Conversion Rate immediately prior to the closing of the liquidation, dissolution or winding up of the Partnership.

• In the event of a Change of Control, the Outstanding Class B Units shall be automatically converted, without requirement of any action of the Class B Unitholders, into Common Units at the Class B Conversion Rate immediately prior to the closing of the applicable Change of Control.

More Definitions of Class B Conversion Rate

Class B Conversion Rate means a number of Common Units equal to the quotient of (i) the Class B Preferred Unit Price divided by (ii) the Class B Conversion Price.

Class B Conversion Rate means one Common Unit issuable upon the conversion of each Class B Unit, as such number of Common Units may be adjusted as set forth in Section 4.10(b)(vi)(E).

Class B Conversion Rate means, for each share of Capital Stock of the Corporation that is convertible at the Class B Conversion Rate, one fully paid and non-assessable share of Class B Common Stock of the Corporation. In case the Corporation shall at any time subdivide (by any stock split, stock dividend or otherwise) its outstanding shares of Class B Common Stock into a greater number of shares, the Class B Conversion Rate in effect immediately prior to such subdivision shall be proportionately increased, and, conversely, in case the outstanding shares of Class B Common Stock shall be combined into a smaller number of shares, the Class B Conversion Rate in effect immediately prior to such combination shall be proportionately reduced.

Class B Conversion Rate means the ratio at which Class B Shares are converted into Ordinary Shares, which shall initially be one (1) Class B Share for one (1) Ordinary Share, subject to such adjustments as may be made from time to time in accordance with this Agreement and the Articles;

Class B Conversion Rate means the lesser of: (a) the quotient obtained by dividing (i) the sum of the Class B Stated Liquidation Preference plus the amount of any accumulated and unpaid distributions to, but not including, the Class B Change of Control Conversion Date (unless the Class B Change of Control Conversion Date is after a Class B Distribution Record Date and prior to the corresponding Class B Distribution Payment Date, in which case no accumulated and unpaid Class B Preferred Unit Distribution will be included in this sum) by (ii) the Common Unit Price with respect to the Class B Preferred Units; and (b) the Class B Unit Cap, subject to adjustments of the Common Unit Price with respect to the Class B Preferred Units and the Class B Unit Cap as the General Partner determines to be equitable in view of any splits, combinations or distributions in the form of equity issuances or the payment of any Class B Alternative Conversion Consideration to the holders of the Common Units in connection with the Class B Change of Control.

Class B Conversion Rate has the meaning specified in Section 14.1 hereof.

Class B Conversion Rate means one (1) Class A Common Unit for each one (1) Class B Common Unit, subject to proportionate adjustment if and to the extent that the number of issued and outstanding Class A Common Units or Class B Common Units increases or decreases as a result of any future unit splits, unit subdivisions, unit combinations, unit distributions or similar transactions.