Subscribed Interest definition
Subscribed Interest means the obligation of an Investor to purchase Stock pursuant to its Subscription Agreement up to the amount of its Uncalled Capital Commitment.
Subscribed Interest of any Investor means the subscription of such Investor to purchase shares of common stock of the Borrower under the applicable Governing Agreement and Subscription Agreement.
Subscribed Interest of any (a) Investor (other than with respect to an Investor’s subscription to make Capital Contributions directly to the Initial Guarantor) means the limited or general partnership interest, membership interest or other equity interests of such Investor in a Pledgor under the Governing Agreement and (b) Investor who subscribes to make Capital Contributions directly to the Initial Guarantor (including the Initial Investors), such Investor’s obligation to make Capital Contributions to the Initial Guarantor pursuant to such Investor’s Subscription Agreement and the applicable Governing Agreement. For the avoidance of doubt, “Subscribed Interest” shall not include any shares of Class E common stock (or any other class of common stock) of the Initial Guarantor issued to an Investor by the Initial Guarantor upon such Investor making a Capital Contribution; provided that if a Transfer of such Class E Common stock (or any other class of common stock) of the Initial Guarantor by such Investor would result in the (i) Transfer by such Investor of such Investor’s obligations to make Capital Contributions to the Initial Guarantor or (ii) a Capital Event, then such Class E common stock (or any other class of common stock) of the Initial Guarantor issued to such Investor will be deemed “Subscribed Interests” hereunder and shall be governed by Section 10.05 or Section 10.06, as applicable.
Examples of Subscribed Interest in a sentence
No Borrower may permit the Transfer of the Subscribed Interest of any Investor without the prior written consent of Administrative Agent, acting alone, which will not be unreasonably withheld or delayed.
If, after admission or pursuant to a transfer of a Subscribed Interest by another Person, any Investor would hold 51% or more of the Equity Interests in a Borrower, or if any natural Person will hold 25% or more of the Equity Interests in a Borrower, such Person may not be admitted nor acquire such Equity Interests by transfer until such Person is KYC Compliant.
More Definitions of Subscribed Interest
Subscribed Interest of any Investor means (a) with respect to Initial Guarantor, the Class N common stock of such Investor in Initial Guarantor under the REIT Governing Documents, and (b) with respect to any other Guarantor or Approved Intermediary, the limited or general partnership interest, membership interest or other applicable Equity Interest of such Investor in such Guarantor or Approved Intermediary, as applicable, under the applicable Constituent Document of such Guarantor or such Approved Intermediary.
Subscribed Interest of any (a) Investor (other than with respect to an Investor’s subscription to make Capital Contributions directly to the Initial Guarantor) means the limited or general partnership interest, membership interest or other equity interests of such Investor in a Pledgor under the Governing Agreement and (b) Investor who subscribes to make Capital Contributions directly to the Initial Guarantor (including the Initial Investors), such Investor’s obligation to make Capital Contributions to the Initial Guarantor pursuant to such Investor’s Subscription Agreement and the applicable Governing Agreement. For the avoidance of doubt, “Subscribed Interest” shall not include any shares of Class E common stock (or any other class of common stock) of the Initial Guarantor issued to an Investor by the Initial Guarantor upon such Investor making a Capital Contribution; provided that if a Transfer of such Class E Common stock (or any other class of common stock) of the Initial Guarantor by such Investor would result in the (i) Transfer by such Investor of such Investor’s obligations to make Capital Contributions to the Initial Guarantor or (ii) a Capital Event, then such Class E common stock (or any other class of common stock) of the Initial Guarantor issued to such Investor will be deemed “Subscribed Interests” hereunder and shall be governed by Section 10.05 or Section 10.06, as applicable.