Examples of Series Offering in a sentence
The Series is expected to keep Cash on the Series Balance Sheet in the amount listed in the Use of Proceeds Table from the proceeds of the Series Offering for future Operating Expenses.
The Company is not expected to keep any of the proceeds from the Series Offering.
In the event that less than the Maximum Series Shares are sold in connection with the Series Offering, the Manager may pay, and not seek reimbursement for, the Brokerage Fee, Offering Expenses and Acquisition Expenses.
Of the proceeds of the Series Offering, the Cash on Series Balance Sheet listed in the Use of Proceeds Table will remain in the operating account of the Series for future Operating ExpensesThe allocation of the net proceeds of this Series Offering set forth above, represents our intentions based upon our current plans and assumptions regarding industry and general economic conditions, our future revenues and expenditures.
Offering size:The Company may offer up to a Total Maximum of Shares in each Series Offering as detailed for each Series highlighted in the Master Series Table.
The offering of each series will not exceed twelve months, or such lesser period as may be determined by the General Partner, in its sole discretion (a "Series Offering Period").
The Manager intends for each Series to elect and qualify to be taxed as a separate real estate investment trust, or “REIT”, for U.S. federal income tax purposes, commencing with the taxable year ending after the completion of each Series Offering.
The series offering period ("Series Offering Period") for the Fund will commence on the effective date of the Registration Statement.
Each Series Offering will reimburse the Managing Member for Offering Expenses actually incurred on our behalf, unless otherwise waived in whole or in party by the Managing Member in its sole discretion.
There may be one or more separate closings (each, a “Closing”) with respect to each Series Offering.