Number of Units and Designation Clause Samples
The "Number of Units and Designation" clause defines the total quantity of units involved in a transaction and specifies how each unit is identified or labeled. In practice, this clause will state the exact number of units being sold, leased, or otherwise dealt with, and may include details such as unit numbers, addresses, or other unique identifiers to distinguish each unit. Its core function is to ensure clarity and prevent disputes by precisely identifying the subject matter of the agreement, thereby reducing the risk of confusion or misinterpretation regarding which units are included.
Number of Units and Designation. A class of Partnership Preferred Units is hereby designated as “Class Six Partnership Preferred Units,” and the number of Partnership Preferred Units constituting such class shall be 900,000.
Number of Units and Designation. A class of Partnership Preferred Units is hereby designated as “Class Three Partnership Preferred Units,” and the number of Partnership Preferred Units constituting such class shall be three million (3,000,000).
Number of Units and Designation. A class of Partnership Units is hereby designated as "Class I High Performance Partnership Units," and the number of Partnership Units initially constituting such class shall be fifteen thousand (15,000), subject to adjustment at the Class I High Performance Valuation Date, as provided in Section 3 hereof.
Number of Units and Designation. A class of Preferred Units is hereby designated as “Series 2016 Preferred Units,” and the number of Preferred Units constituting such class shall equal 14,500,000.
Number of Units and Designation. A class of OP Preferred Units is hereby designated as "Class D OP Preferred Units," and the number of OP Preferred Units constituting such class shall be 2,070,000.
Number of Units and Designation. A class of ownership interests in the Partnership entitled “Series B Preferred Partnership Units” is hereby designated and the number of Series B Preferred Partnership Units constituting such class shall be 2,875,000.
Number of Units and Designation. The Series C Preferred Units shall be a series of preferred Partnership Units designated as “Series C Preferred Units”, and the number of units constituting such series, as of December 30, 2013, shall be 1,935,400.
Number of Units and Designation. A class of Partnership Preferred Units is hereby designated as "Class R Partnership Preferred Units," and the number of Partnership Preferred Units constituting such class shall be 4,940,000.
Number of Units and Designation. A class of Partnership Units is hereby designated as "Class I Out-Performance Partnership Shares," and the number of Partnership Units initially constituting such class shall be one million two hundred and seventy thousand (1,270,000).
Number of Units and Designation. A class of Partnership Units is hereby designated as “Class I High Performance Partnership Units,” and the number of Partnership Units constituting such class, as of the date hereof, is 1,998,230, which reflects the effect of the previously completed adjustment as of the Class I High Performance Valuation Date (as defined in the Original HP Partnership Unit Designation and in accordance with Section 3 thereof) (the “Completed Class I High Performance Valuation Date”).