Class P Preferred Shares definition
Examples of Class P Preferred Shares in a sentence
All new investments made in Class P Preferred Shares shall receive P1 Non-Voting Shares.
The Class P Preferred Shares will have a stated dividend rate equal to the weighted average of the interest rates on the Collateral Interests with respect to the related Interest Accrual Period, expressed on an actual/360 basis.
In consideration for Contributor’s contribution of the Contribution Amount, the Company issued to the Contributor 510 Class A Shares, which subsequently were recapitalized into an aggregate of 56,000,000 Class D Preferred Shares and 51,000,000 Class P Preferred Shares, which Class D Preferred Shares subsequently were recapitalized into Class D-1 Preferred Shares and which Class P Preferred Shares subsequently were redeemed in exchange for Preferred Shares of Pharma.
The Class P Preferred Shares will have a stated dividend rate equal to the weighted average of the interest rates on the Mortgage Assets with respect to the related Interest Accrual Period.
On each Payment Date, Available Funds that constitute Principal Proceeds under the Indenture shall be distributed in the following order of priority: (A) to the Class P Preferred Shares, pro rata based on the aggregate Class P Preferred Shares Notional Amount, in partial redemption thereof, until the Class P Preferred Shares Notional Amount has been reduced to zero; and (B) to the Class R Preferred Shares, the remaining Principal Proceeds (if any) in the Preferred Share Payment Account.
The Class P Preferred Shares will have a stated dividend rate of, with respect to each Payment Date (and related Interest Accrual Period) (i) prior to the Payment Date in April 2031, the Benchmark plus 7.80% and (ii) thereafter, the Benchmark plus 8.30%, subject to any adjustments made by Collateral Manager in accordance with the terms of the Indenture.
Number: P-[1] CUSIP: ▇▇▇▇▇▇▇▇▇ THIS IS TO CERTIFY THAT TRTX Master Retention Holder, LLC is the registered holder of 67,375.000 Preferred Shares, consisting of 64,006.250 Class P Preferred Shares and 3,368.750 Class R Preferred Shares, in the above named Company, subject to the Amended and Restated Memorandum and Articles of Association thereof, as may be hereafter amended and in effect from time to time.
The Class P Preferred Shares outstanding will have an aggregate stated redemption price from time to time equal to the Aggregate Outstanding Portfolio Balance minus the Aggregate Outstanding Amount of all Classes of Notes (the “Class P Preferred Shares Stated Redemption Price”).
The Class P Preferred Shares will have a stated dividend rate of (i) with respect to each Payment Date (and related Interest Accrual Period) on or prior to the Payment Date in August 2019, LIBOR index plus 19.30% and (ii) with respect to each Payment Date (and related Interest Accrual Period) occurring after the Payment Date in August 2019, LIBOR index plus 24.30%.
Number P-[1] CUSIP [▇▇▇▇▇▇▇▇▇] THIS IS TO CERTIFY THAT [________________] is the registered holder of [_________] Class P Preferred Share[s] and [_________] Class R Preferred Share[s] in the above named Company, subject to the Amended and Restated Memorandum and Articles of Association thereof, as may be hereafter amended and in effect from time to time.