Designated Class definition
Examples of Designated Class in a sentence
On any Distribution Date on or after the Initial Optional Termination Date, the Holders of a majority in Percentage Interests of the Designated Class may purchase the Certificates of all other Classes by depositing with the Paying Agent on the preceding Master Servicer Remittance Date an amount equal to the Certificate Principal Balance of such Certificates on such Distribution Date plus interest thereon to such Distribution Date.
At any time that no Designated Class B Holder holds any Class B Membership Units, each holder of Class B Membership Units who is not a Designated Class B Holder shall have the right, at its option, to convert any of its Class B Membership Units into an equal number of Class A Membership Units, without cost.
The undersigned hereby irrevocably requests Redemption by the Company of the number of Redeemed Units set forth below and in connection therewith surrenders to the Company the number of Designated Class B Shares set forth below and directs that the Cash Amount or Class A Common Stock deliverable upon exercise of the Redemption be issued in the undersigned’s name as set forth below, as set forth in the Agreement.
So long as the Company shall continue to be an entity qualifier with the Commission, the Designated Class B Holders shall only be permitted to convert Class B Membership Units into Class A Membership Units as part of or following an in-kind distribution of the entire interest of Holdings or Co-Investment Partners, as the case may be, in the units of the Company and, to the extent required, only after being found qualified by the Commission.
So long as the Designated Class B Holders in the aggregate hold at least one Class B Membership Unit, no holder of Class B Membership Units who is not a Designated Class B Holder may convert such units to Class A Membership Units without the prior written consent of Designated Class B Holders holding a majority of the outstanding Class B Membership Units then held by Designated Class B Holders (which consent may be granted in each such holder’s sole and absolute discretion).
If for any reason the provisions of paragraph 1C of subdivision B of Article IV of the Certificate of Incorporation do not provide the voting rights intended by the parties, the Company shall make alternative arrangements to provide the CIVC Group or the Designated Class A Transferee with the benefits of such voting rights.
Each Designated Class A Certificate shall be purchased at a purchase price equal to 100% of the principal amount thereof.
Prior to the Closing, Alloy will ------------------------ take all action (if any) necessary in accordance with the DGCL, Alloy's Certificate of Incorporation, as amended, and By-laws, to increase from 5 to 6 the total number of directors constituting the entire Alloy Board and to appoint a designee of LDI reasonably acceptable to Alloy to fill such vacancy and to serve in the class of directors whose term expires in the year 2001 (the "Designated Class").
So long as the Designated Class B Holders in the aggregate hold at least one Class B Membership Unit, no holder of Class B Membership Units who is not a Designated Class B Holder may convert such units to Class A Membership Units without the prior written consent of Designated Class B Holders holding a majority of the outstanding Class B Membership Units then held by Designated Class B Holders (which consent may be granted in each such holder's sole and absolute discretion).
For a period of 15 days after the date of any CIVC Put Notice or CIVC Call Notice, each of CIVC or the Designated Class A Transferee and the Company agrees to negotiate in good faith to determine the Company Enterprise Value.