Class X Units definition
Examples of Class X Units in a sentence
From and after the date hereof and prior to the Merger Effective Time, the interests in the Partnership of the Partners will be divided into and represented by an unlimited number of units of three classes: the GP Units, the Class C Exchangeable Units and the Class X Units.
The holders of Class X Units as a class shall be entitled to receive distributions as provided by Section 5.3(b)(i) and the aggregate amount of $1,000 on the redemption thereof.
The Company may reissue any Class X Units that have been repurchased or acquired by the Company.
In addition, the Company shall issue to Holdings, in exchange for the Acquiror Contribution Amount (as defined in the Business Combination Agreement), additional Class X Units and the Holdings Warrants.
The General Partner is hereby authorized to cause the Partnership to issue Units designated as Class A-1a Units, Class A-1b Units, Class A-1c Units, Class D-1 Units, Class D-2 Units, Class F-1 Units, Class F-2 Units, Class F-3 Units, Class F-4 Units, Class I-1 Units, Class I-2 Units, Class S-1 Units, Class S-2 Units and Class X Units and any other additional classes of Units with such terms, rights and obligations as determined in the sole discretion of the General Partner.
The Operating Partnership will pay the Adviser a management fee (the “OP Management Fee” and, together with the Company Management Fee, the “Management Fee”) equal to (i) 1.00% of the net asset value of the Operating Partnership attributable to Class T Units, Class S Units, Class D Units and Class I Units and (ii) 0.75% of the net asset value of the Operating Partnership attributable to Class Y Units and Class X Units held by unitholders other than the Company.
The price of each Pre-Identified Investment may be paid to the General Partner or such Affiliate in cash or through the issuance of Class X Units of an equivalent amount to the General Partner or such Affiliate, as determined by the General Partner in its sole discretion.
The Initial Limited Partner has made an initial contribution of $100 to the capital of the Partnership in exchange for 10 Class X Units.
The interests in the Partnership of the Partners will initially be divided into and represented, as of the date hereof, by an unlimited number of two classes of Units as follows: (i) the interest of the General Partner will be represented by general partnership units in the capital of the Partnership (“GP Units”); and (ii) interests of the Limited Partners will be represented by limited partnership units in the capital of the Partnership that are designated as Class X Units (“Class X Units”).
Subscriber’s subscription and payment for and continued beneficial ownership of the Class X Units and the Class Y Units will not violate any applicable securities or other laws of Subscriber’s jurisdiction.