Class K Unit definition

Class K Unit. The Partnership Interest held by the Class K Limited Partner, each full Class K Unit representing a $250,000 Capital Contribution. Code: The Internal Revenue Code of 1986, as amended from time to time.
Class K Unit means a Unit in the Limited Partnership designated as a Class K Unit, having the rights, privileges, restrictions and conditions set out in the LP Agreement, which are summarized in subsection 4.1.2 of this JKDA.
Class K Unit means a Partnership Security representing a fractional part of the Partnership Interests of all Limited Partners and Assignees, and having the rights and obligations specified with respect to Class K Units in this Agreement.

Examples of Class K Unit in a sentence

  • With respect to any matter on which the Class K Units are entitled to vote, each Class K Unit will be entitled to one vote on such matter.

  • Each Class E Unit of ETP, each Class G Unit of ETP, each Class I Unit of ETP, each Class J Unit of ETP and each Class K Unit of ETP, if any, issued and outstanding or deemed issued and outstanding as of immediately prior to the effective time of the Merger will be converted into the right to receive a corresponding unit in SXL with the same rights, preferences, privileges, powers, duties and obligations as such existing ETP unit had immediately prior to the Merger.

  • These studies mainlyevaluated mortality, so they are not very informative for assessing skin cancer effects.

  • The initial capital account with respect to each Class K Unit will be equal to the capital account of the ETP Class K Unit outstanding in ETP immediately prior to the ETP-SXL Merger that converted into the right to receive such Class K Unit.

  • Some claim that the main reason all nations have pursued nuclear energy - and are doing so still today - is to enable development of nuclear weapons under the cover of energy policy (Shrader-Frechette 2011:212-240).

  • The scheme is unfair to the North East (as noted by the National Audit Office) and, as with the Settlement cuts as a whole, disproportionately targets the most deprived local authorities (as the topslice is made based on grant reliance, rather than a fixed cut per head or per dwelling).

  • For each taxable period, after the application of Section 6.1(c)(ii)(A), but before the application of Section 6.1(c)(ii)(B), the holders of the Class K Units shall be allocated Net Termination Loss (other than from ETP Holdco Items) until the Capital Account in respect of each Class K Unit has been reduced to zero.

  • The initial capital account with respect to each Class K Unit was determined in accordance with Section 5.4(a).

  • The Percentage Interest with respect to the General Partner Interest and with respect to a Class K Unit, a Class L Unit, a Class M Unit, a Series A Preferred Unit, a Series B Preferred Unit, a Series C Preferred Unit, a Series D Preferred Unit and a Series E Preferred Unit shall at all times be zero.

  • For each taxable period, after the application of Section 6.1(c)(i)(A) but before the application of Section 6.1(c)(i)(B), Net Termination Gain (other than from ETP Holdco Items) shall be allocated to the holders of the Class K Units, pro rata in proportion to the number of Class K Units of each such holder, until the Capital Account of each Class K Unit is equal to the Class K Unit Issue Price.

Related to Class K Unit

  • Class A Unit means any Partnership Unit that is not specifically designated by the General Partner as being of another specified class of Partnership Units.

  • Class B Unit means a Partnership Unit which is designated as a Class B Unit of the Partnership.

  • GP Unit means a Partnership Unit which is designated as a GP Unit of the Partnership.

  • Class C Unit means a Partnership Security representing a fractional part of the Partnership Interests of all Limited Partners and Assignees, and having the rights and obligations specified with respect to the Class C Units in this Agreement. The term “Class C Unit” does not refer to a Common Unit until such Class C Unit has converted into a Common Unit pursuant to the terms hereof.

  • Class B Common Unit means one of that certain class of Common Units with those special rights and obligations specified in this Agreement as being appurtenant to a “Class B Common Unit”.

  • Class A Common Unit means a Common Unit having the rights and obligations specified with respect to Class A Common Units in this Agreement.

  • Subordinated Unit means a Limited Partner Interest having the rights and obligations specified with respect to Subordinated Units in this Agreement. The term “Subordinated Unit” does not include a Common Unit. A Subordinated Unit that is convertible into a Common Unit shall not constitute a Common Unit until such conversion occurs.

  • Class LT-R Interest The residual interest in the Lower-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Class C Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class C Certificates, evidencing a Regular Interest in REMIC 3 for purposes of the REMIC Provisions.

  • LTIP Unit means a Limited Partnership Interest which is designated as an LTIP Unit and which has the rights, preferences and other privileges designated in Section 4.4 hereof and elsewhere in this Agreement in respect of holders of LTIP Units. The allocation of LTIP Units among the Partners shall be set forth on Exhibit A, as may be amended from time to time.

  • Common Unit Economic Balance has the meaning set forth in Section 5.01(g) hereof.

  • Class A LP Units means the Class A limited partnership units of the Partnership.

  • Class C Monthly Interest is defined in Section 4.1(c).

  • Class D Unit means a Partnership Unit entitling the holder thereof to the rights of a holder of a Class D Unit as provided in this Agreement.

  • Class C Member means a Member holding the Class C Ordinary Share.

  • Class B Percentage Interest means, with respect to a Class B Member as of a given date, that percentage obtained by dividing the total number of Class B Units owned by such Member by the total number of Class B Units issued and outstanding.

  • OP Unit Economic Balance has the meaning set forth in Section 6.03(c) hereof.

  • Class H designation on the face thereof, substantially in the form of Exhibit A-4 attached hereto, and evidencing a portion of a class of "regular interests" in REMIC III for purposes of the REMIC Provisions.

  • Preferred Unit means a fractional share of the Partnership Interests that the General Partner has authorized pursuant to Sections 4.01, 4.03 or 4.04 hereof that has distribution rights, or rights upon liquidation, winding up and dissolution, that are superior or prior to the OP Units.

  • Class B Interest Each of the Class B-1 and Class B-2 Interests.

  • Class A Percentage Interest means, with respect to a Class A Member as of a given date, that percentage obtained by dividing the total number of Class A Units owned by such Member by the total number of Class A Units issued and outstanding.

  • Class IO Interest An uncertificated interest in the Trust Fund held by the Trustee, evidencing a REMIC Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.