Applicable Series definition

Applicable Series means, with respect to any date of determination, a Series with an Investor Interest of greater than zero;

Applicable Series shall have the meaning set forth in Section 3.6(c)(i) hereof.

Applicable Series shall have the meaning assigned to such term in the definition of “Revolving Credit Termination Date”.

Examples of Applicable Series in a sentence

• If a Subscriber makes additional investments in the Applicable Series of the Fund, the Subscriber will be deemed to have repeated to the Fund and the Manager, the representations and warranties contained in this Subscription Agreement.

• In general, a designated beneficiary is a Unitholder that is (i) a non-resident of Canada, (ii) a non-resident-owned investment corporation, (iii) a Unitholder exempt from tax under Part I of the Tax Act where the Unitholder’s units of the Applicable Series of the Fund (the “Units”) were acquired other than from the Fund, or (iv) a trust or partnership, subject to certain exceptions.

• By way of example and not limitation, if the Applicable Series B Shares for a Series B Holder was 1,000 Applicable Series B Shares, such Series B Holder would be entitled to convert 50 shares of Series B Preferred Stock into shares of Common Stock in December 2021, and to convert 50 shares of Series B Preferred Stock into shares of Common Stock in January 2022.

• By way of example and not limitation, if the Applicable Series B Shares for such Series B Holder was 1,000 Applicable Series B Shares, such Series B Holder would be entitled to convert 30 shares of Series B Preferred Stock into shares of Common Stock in each calendar month from February 2022 to May 2023.

• For each of the calendar months from February 2022 to May 2023, a Series B Holder who owns more than 750 shares of Series B Preferred Stock shall not have the right, whether by election, operation of law, or otherwise, to convert into Common Stock shares of Series B Preferred Stock constituting more than three percent (3%) (rounded down to the nearest whole share) of the total number of such Series B Holder’s Applicable Series B Shares.

More Definitions of Applicable Series

Applicable Series shall have the meaning as provided Section 3.6(b)(i).

Applicable Series means the Series [name] of the Trust, created pursuant to a Series Supplement dated as of the date hereof executed by the Agent and the Sponsor.

Applicable Series means the Series of Notes to which the proposed amendments are relevant;

Applicable Series shall have the meaning assigned thereto in Section 3.8(b)(i).

Applicable Series shall have the meaning assigned to such term in Section 3.6(b).

Applicable Series means (i) if the Next Equity Financing shall occur on or before April 30, 2018, the Next Equity Financing Series; or (ii) if the Next Equity Financing shall not have occurred, for any reason or no reason, on or before April 30, 2018, or if, prior to the occurrence of the Next Equity Financing, there shall occur a Conversion Event, the Issuer’s Series E Preferred Stock, $0.0001 par value per share; in each case together with the class and series of Issuer capital stock into or for which all (but not less than all) of the outstanding shares of such Next Equity Financing Series or Series E Preferred Stock shall be converted, exchanged or substituted pursuant to any reorganization, recapitalization or similar transaction of the Issuer or any mandatory or voluntary conversion of all outstanding shares of the Next Equity Financing Series or Series E Preferred Stock into shares of Issuer common stock; provided, that if, in connection with any Conversion Event where one or more Conversion Right Holders exercises its or their Conversion Right(s) and/or Purchase Rights(s), the Applicable Series shall be the Next Equity Financing Series pursuant to clause (i) above but if the Issuer fails or is unable for any reason to issue the requisite shares of such Next Equity Financing Series to such Conversion Right Holders as and when required hereunder (including, without limitation, by reason of having failed to obtain all necessary consents, waivers and/or approvals of or by any Person whose consent, waiver or approval is necessary under the Issuer’s then-effective certificate or articles of incorporation and bylaws or other governing documents or under applicable law), or if such issuance of such shares of the Next Equity Financing Series would constitute a breach or default (or an event which with the giving of notice or the passage of time, or both, would constitute a breach or default) under any agreement or instrument to which the Issuer is then a party to or by which the Issuer or its assets may then be subject or bound, then in any such case each Conversion Right Holder shall have the right (but not the obligation), exercisable in its sole discretion upon written notice to the Issuer and without prejudice to or limitation of any and all other rights and remedies which such Conversion Right Holder may have hereunder, at law or in equity in respect of such Issuer failure or inability, to elect for the Applicable Series to be the Issuer’s Series E Preferred Stock.

Applicable Series shall have the meaning set forth in Section 37(a) of the Agreement. “Appraisal” shall mean, with respect to any Mortgaged Property, an appraisal of such Mortgaged Property meeting the requirements of the representations and warranties set forth in paragraph (nn) on Schedule 1 hereto. “Appraised Value” shall mean the value set forth in an Appraisal made in connection with the origination of the related Mortgage Loan as the value of the underlying Mortgaged Property, and any updated Appraisal with respect thereto. “Approved CPA” shall mean Binder Dijker Xxxx (BDO) or any certified public accountant approved by Xxxxx in writing in its sole discretion. “Approved Originator” shall mean those lending institutions set forth on Schedule 6 hereto, and any other lending institutions approved in writing by Buyer in its sole discretion; provided that any previously Approved Originator will no longer be an Approved Originator upon written notice from Buyer.