Class Z Units definition
Examples of Class Z Units in a sentence
Each Partnership and the General Partner acknowledges that each Consulting Client shall be permitted to acquire Class Z Units (as defined in the applicable Partnership’s Memorandum.
Notwithstanding the foregoing, if any such non-Consulting Client is an employee of Placement Agent or an affiliate and remains a limited partner, such employee may retain ownership of such Class Z Units (as defined in the applicable Partnership’s Memorandum) and shall not be subject to the Ongoing Selling Agent Fee.
The Units may be issued in the six Classes described herein — Class A Units, Class C Units, Class D Units, Class I Units, Class M Units and Class Z Units.
For the avoidance of any doubt, Class Z Units are subject to withdrawal restrictions set forth in this Agreement and the Memorandum.
Subject to this Section 3.02, an Investor shall be entitled to redeem all or part of such Investor’s Units effective as of the last calendar day of each month (a “Redemption Date”), upon providing oral or written notice 38 days prior to the first of every month; provided that the Class Z Units may be redeemed at any time on no notice.
All other Limited Partners who satisfy the applicable investment and minimum capital contribution requirements shall receive Class A units or such other classes of Units of Limited Partnership Interest (together with Class A Units of Limited Partnership Interest and Class Z Units of Limited Partnership Interest, the “Classes”) as the General Partner may determine in its sole discretion to offer from time to time.
The General Partner may, without the consent of the Limited Partners, offer additional classes of Units of Limited Partnership Interest (together with Class A Units of Limited Partnership Interest, Class D Units of Limited Partnership Interest and Class Z Units of Limited Partnership Interest, the “Classes”) as it may determine in its sole discretion from time to time.
In the event of any change in the number of (i) shares of Unvested Consideration due to any subdivision (by any equity split, equity distribution, reclassification, recapitalization or otherwise) or combination (by reverse equity split, reclassification, recapitalization or otherwise) of the underlying Pubco Common Stock or underlying Units or (ii) Class A Units or Class B Units, there shall be an automatic adjustment hereunder of the corresponding Class Z Units.
All other Limited Partners who satisfy the applicable investment and minimum capital contribution requirements shall receive Class A Units or such other classes of Units of Limited Partnership Interest (together with Class A Units of Limited Partnership Interest and Class Z Units of Limited Partnership Interest, the “Classes”) as the General Partner may determine in its sole discretion to offer from time to time.
The General Partner may also offer Class Z Units to certain of the Limited Partners receiving advisory services from a ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ financial advisor or private wealth advisor (each a “Consulting Client’).