Class N Units definition

Class N Units means the Units having the rights and obligations specified with respect to Class N Units in this Agreement.
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Class N Units shall have the meaning set forth in Section 10(a).
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Class N Units 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 N Units in this Agreement.
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Examples of Class N Units in a sentence

  • The Class N Units, subject to the satisfaction of any applicable legal, regulatory and contractual requirements, may be assigned or transferred in a manner identical to the assignment and transfer of other Units.

  • Outside the Netherlands, Class N Units may only be made available by Distributors or sales agents, pre-approved by the Management Company, that provide investors with fee-based investment advice.

  • The Class F Units and Class N Units differ from the Class A Units, as Class F Units and Class N Units are not and will not be listed on a stock exchange, though the Manager reserves the right to apply to list the Class N Units on a stock exchange on a later date.

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

  • Unitholders surrendering Class N Units will receive a redemption price per Class N Unit equal to the product of (i) the Monthly Redemption Amount, and (ii) a fraction, the numerator of which is the most recently calculated Class NAV per Unit for Class N Units, and the denominator of which is the most recently calculated net asset value per Unit for Class A Units.

  • Therefore, investors in Class N Units are advised to make themselves aware of the features of the Class A Units, including the Performance Fee chargeable on Class A Units and the redemption rights of Class A Units.

  • The Class NAV per Unit of the Class N Units will not be the same as the Class NAV per Unit as the Class A Units, as a result of the different fees allocable to the classes of Units.

  • The General Partner designated and created a class of Partnership Securities designated as “Class N Units.” In accordance with Section 5.5, the General Partner shall have the power and authority to issue additional Class N Units in the future.

  • Description of Securities Offered by the Fund The beneficial interests in the net assets and net income of the Fund are divided into units of three classes, Class A Units, Class F Units and Class N Units.

  • Any certificates relating to the Class N Units that may be issued will be in such form as the General Partner may approve.


More Definitions of Class N Units

Class N Units means the class N trust units of the Trust which will be created pursuant to the Reclassification;
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Related to Class N Units

  • 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.

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

  • Class B Units means the Class B Units of the Company.

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.

  • Class B Common Units has the meaning set forth in Section 1(a) hereof.

  • Common Units is defined in the Partnership Agreement.

  • Class A Common Units means the Company's Class A Common Units.

  • Class C Shares means the shares of Class C common stock of the Company.

  • Class B Interests As set forth in the Trust Agreement.

  • Class D Units has the meaning ascribed to such term in the LLC Agreement.

  • Subordinated Units has the meaning assigned to such term in the Partnership Agreement.

  • Preferred Units means the Series A Preferred Units and the Series B Preferred Units.

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

  • OP Units means units of limited partnership interest in the Operating Partnership.

  • Class A Shares means the Class A ordinary Shares in the capital of the Company of $0.0001 nominal or par value designated as Class A Shares, and having the rights provided for in these Articles.

  • LP Units means the non-voting limited partnership units in the capital of BEP, other than the Preferred Units, including any LP Units issued pursuant to the Redemption-Exchange Mechanism.

  • Class B Ordinary Shares shall have the meaning ascribed to it in Section 2.4(a).

  • Class C Units means the Class C Units of the Company.

  • Class A Interests means the Units purchased by the Class A Members. The Class A Interests shall comprise sixty-five percent (65%) of the total Interests sold. Class A Percentage Interest shall be determined by calculating the ratio between each Class A Member’s Capital Account in relation to the total capitalization of the Company provided by the Class A Members.

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

  • Class A Ordinary Shares shall have the meaning ascribed to it in Section 2.4(a).

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

  • 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 Stock means the Company's Class A Common Stock, par value $0.01 per share.

  • Initial Common Units means the Common Units sold in the Initial Offering.

  • General Partner Units has the meaning assigned to such term in the Partnership Agreement.