Second Class Clause Samples

The 'Second Class' clause defines a specific category or tier within a contractual arrangement, typically used to distinguish between different levels of rights, privileges, or obligations among parties. In practice, this clause might apply to shares in a company, where 'Second Class' shares have different voting rights, dividend entitlements, or liquidation preferences compared to 'First Class' shares. The core function of this clause is to clearly delineate the hierarchy or differentiation among classes, ensuring that all parties understand their respective positions and the implications for governance, profit distribution, or other key aspects of the agreement.
Second Class. For a second-class production, Producer shall receive from Author the Percentage of the “net proceeds” paid (regardless of timing) to the Author as specified in Paragraph 4(c) below from any disposition made of any of Subsidiary Rights in the Play during the period commencing as of the date hereof and ending fifteen (15) years after the final performance of the last production of the Play presented hereunder; provided, however, that other than the disposition of motion picture and customary allied and ancillary rights, for which Producer shall participate in the net proceeds on a worldwide basis, Producer’s participation in all other rights dispositions shall be limited to the Territory, and any other territory in which Producer has 4 produced (or caused the production of) the Play for at least performances, in which case Producer shall vest a interest in the net proceeds paid (regardless of timing) from the disposition of any Subsidiary Rights in such foreign territory within fifteen (15) years from the date of the first paid public performance in such foreign territory. “Net proceeds” means gross proceeds, less applicable sales taxes and representative’s commission, if any, not exceeding a commission of , except with respect to amateur rights. For purposes of the immediately preceding sentence, each of the following shall be deemed a “foreign territory”: Japan; South Korea; German Speaking Territories (which shall include Germany, Austria, Switzerland, ▇▇▇▇▇▇▇▇▇▇▇▇, and Czech); Scandinavia (which shall include Sweden, Norway, Finland, Denmark, and Iceland); Far East (which shall include China, Hong Kong, Taiwan, Korea, Indonesia, Singapore, Cambodia, Vietnam, Malaysia, Thailand, and the Philippines); France & Benelux; Eastern Europe (which shall include CIS Countries, Poland, Slovakia, Hungary, and former Yugoslavia); Middle East (which shall include Israel, UAE, Kuwait, and Jordan); Iberia (which shall include Spain, Portugal, and Andorra); Latin America (which shall include, without limitation, Mexico, Brazil, and the Caribbean); and Africa.
View SourceView Similar (7)
Second Class. Saint ▇▇▇▇, N.B., ▇▇▇▇▇▇▇, Que., Brockville, Ont., Black Rock, N.Y., Capreol, Ont., Hornepayne, Ont., Sudbury, Ont., ▇▇▇▇▇▇ Terminal, Melville, Sask., Kamloops Jct., B.C., Prince ▇▇▇▇▇▇, B.C.
View Source
Second Class 
View SourceView Similar (4)

Related to Second Class

  • ADDITIONAL FUNDS AND CLASSES In the event that the Trust establishes one or more series of Shares or one or more classes of Shares after the effectiveness of this Agreement, such series of Shares or classes of Shares, as the case may be, shall become Funds and classes under this Agreement with necessary changes made to Appendix IV; however, either GFS or the Trust may elect not to make any such series or classes subject to this Agreement.

  • SIMPLE Class The Manager will apply an equivalent waiver or reimbursement, in an equal number of basis points waived for Class A Shares.

  • Original Class B Principal Balance The Original Class B Principal Balance is $7,500,485.88.

  • Notice to Class Members 7.4.1 No later than three (3) business days after receipt of the Class Data, the Administrator shall notify Class Counsel that the list has been received and state the number of Class Members, PAGA Members, Workweeks, and Pay Periods in the Class Data. 7.4.2 Using best efforts to perform as soon as possible, and in no event later than 14 days after receiving the Class Data, the Administrator will send to all Class Members identified in the Class Data, via first-class United States Postal Service (“USPS”) mail, the Class Notice with Spanish translation, if applicable substantially in the form attached to this Agreement as Exhibit A. The first page of the Class Notice shall prominently estimate the dollar amounts of any Individual Class Payment and/or Individual PAGA Payment payable to the Class Member, and the number of Workweeks and PAGA Pay Periods (if applicable) used to calculate these amounts. Before mailing Class Notices, the Administrator shall update Class Member addresses using the National Change of Address database. 7.4.3 Not later than 3 business days after the Administrator’s receipt of any Class Notice returned by the USPS as undelivered, the Administrator shall re-mail the Class Notice using any forwarding address provided by the USPS. If the USPS does not provide a forwarding address, the Administrator shall conduct a Class Member Address Search, and re-mail the Class Notice to the most current address obtained. The Administrator has no obligation to make further attempts to locate or send Class Notice to Class Members whose Class Notice is returned by the USPS a second time. 7.4.4 The deadlines for Class Members’ written objections, Challenges to Workweeks and/or Pay Periods, and Requests for Exclusion will be extended an additional 14 days beyond the 60 days otherwise provided in the Class Notice for all Class Members whose notice is re-mailed. The Administrator will inform the Class Member of the extended deadline with the re-mailed Class Notice. 7.4.5 If the Administrator, Defendant or Class Counsel is contacted by or otherwise discovers any persons who believe they should have been included in the Class Data and should have received Class Notice, the Parties will expeditiously meet and confer in person or by telephone, and in good faith in an effort to agree on whether to include them as Class Members. If the Parties agree, such persons will be Class Members entitled to the same rights as other Class Members, and the Administrator will send, via email or overnight delivery, a Class Notice requiring them to exercise options under this Agreement not later than 14 days after receipt of Class Notice, or the deadline dates in the Class Notice, which ever are later.

  • Settlement Class In the event of such dispute, the party raising the dispute shall be limited to seeking declaratory relief, and to no other form of relief. The declaratory relief available as to any such dispute shall be limited to deciding whether (y) the putative buying group is a properly organized bona fide buying group that complies with the requirements of this Paragraph, and/or (z) whether Visa negotiated in good faith with the putative buying group. The parties, including all members of the Rule 23(b)(2) Settlement Class, waive all rights to appeal from any such determinations. Upon resolution of the dispute by the Court, the losing party shall be responsible for all attorneys’ fees and expenses of the prevailing party unless the Court determines that the circumstances make such an award unjust.