Either Class definition

Either Class. A Units or Class B Units, at the election of the Managing General Partner, in its sole and absolute discretion, may be issued to newly admitted Partners in exchange for the contribution by such Partners of cash, real estate partnership interests, stock, notes or other assets or consideration; provided, that all Partnership Units issued to Partners in connection with the Consolidation shall be Class A Units; and, provided further, that any Partnership Unit that is not specifically designated by the General Partner as being of a particular class shall be deemed to be a Class A Unit. Each Class B Unit shall be converted automatically into a Class A Unit on the day immediately following the Partnership Record Date for the Distribution Period (as defined in Section 5.1.C) in which such Class B Unit was issued, without the requirement for any action by either the Partnership or the Partner holding the Class B Unit.
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Either Class. A Units or Class B Units, at the election of the General Partner, in its sole and absolute discretion, may be issued to newly admitted Partners in exchange for the contribution by such Partners of cash, real estate partnership interests, stock, notes or other assets or consideration; provided that any Partnership Unit that is not specifically designated by the General Partner as being of a particular class shall be deemed to be a Class A Unit. Each Class B Unit shall be converted automatically into a Class A Unit on the day immediately following the Partnership Record Date for the Distribution Period (as defined in Section 5.1.C) in which such Class B Unit was issued, without the requirement for any action by either the Partnership or the Partner holding the Class B Unit.
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Either Class. A Units or Class B Units, at the election of the General Partner, in its sole and absolute discretion, may be issued to newly admitted Partners in exchange for the contribution by such Partners of cash, real estate partnership interests, stock, notes or other assets or consideration; provided, that all Units issued to Partners on the -------- Closing Date shall be Class A Units; and, provided further, that any Unit that ---------------- is not specifically designated by the General Partner as being of a particular class shall be deemed to be a Class A Unit. Each Class B Unit shall be converted automatically into a Class A Unit on the day immediately following the Partnership Record Date for the Distribution Period (as defined in Section 5.1.C) in which such Class B Unit was issued, without the requirement for any action by either the Partnership or the Partner holding the Class B Unit. Except as otherwise provided in this Agreement, holders of Class A Units and Class B Units shall be entitled to vote the Partnership Interests represented by such units on all matters as to which the vote or consent of the Partners is required.
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Examples of Either Class in a sentence

  • Either Class Counsel or Defendants shall have the right to challenge any Claim Form if they believe it does not represent a valid claim from a Settlement Class Member.

  • Either Class Counsel or Counsel for the Defendant may challenge the reasonableness of the Settlement Administrator’s compensation or out-of-pocket costs and expenses, in which case the Court will determine the reasonableness of such compensation or costs and expenses.

  • Either Class Counsel or Counsel for the Defendant may challenge the reasonableness of the Science Panel’s out-of-pocket costs and expenses, in which case the Settlement Administrator will determine the reasonableness of such costs and expenses.

  • Either Class of Class B Certificates, this 1998-C Securitization Trust Agreement and related documents may be amended or supplemented from time to time to modify restrictions on and procedures for resale and other transfer of such Class B Certificates to reflect any change in applicable law or regulation (or the interpretation thereof) or practices relating to the resale or transfer of restricted securities generally.

  • Either Class Counsel or Defendants may void this Settlement by providing written notice to counsel for all other Parties to the Settlement within fourteen days (14) days after the event prompting the right to terminate (“Termination Notice”) and subject to other time limits or conditions set forth in this Agreement.

  • Either Class Counsel or Counsel for the Defendant may challenge the reasonableness of the DAGP Administrator’s out-of-pocket costs and expenses, in which case the Settlement Administrator will determine the reasonableness of such costs and expenses.

  • Either Class Counsel or Counsel for the Defendant may challenge the reasonableness of the Claims Administrator’s out-of-pocket costs and expenses, in which case the Settlement Administrator will determine the reasonableness of such costs and expenses.

  • Either Class Counsel or HMI may move the Court to substitute a different organization as Settlement Administrator, upon a showing that the responsibilities of Settlement Administrator have not been adequately executed by Atticus Administration, LLC.

  • Either Class Counsel or Counsel for the Defendant may challenge the reasonableness of the Lien Administrator’s out-of-pocket costs and expenses, in which case the Settlement Administrator will determine the reasonableness of such costs and expenses.


More Definitions of Either Class

Either Class. A Units or Class B Units, at the election of the General Partner, in its sole and absolute discretion, may be issued to newly admitted Partners in exchange for the contribution by such Partners of cash, real estate partnership interests, stock, notes or other assets or consideration; provided, that any Partnership Unit that is not specifically designated by the General Partner as being of a particular class shall be deemed to be a Class A Unit. Each Class B Unit shall be converted automatically into a Class A Unit on the day immediately following the Partnership Record Date for the Distribution Period (as defined in Section 5.1.C) in which such Class B Unit was issued, without the requirement for any action by either the Partnership or the Partner holding the Class B Unit. At such time as the Partnership has issued Preferred Units, there shall also be two subclasses of each class or series of Preferred Units designated "Class A Preferred Units" and "Class B Preferred Units" (or such other designation as the General Partner may determine) in order to provide for the respective distributions as between holders of the Units of such class or series of Preferred Units who have held such Units for less than the full Distribution Period relating to such class or series in a manner consistent with the allocation of distributions made pursuant to Section 5.1 hereof among holders of Limited Partner Units that are not Preferred Partnership Units.
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Related to Either Class

  • Senior Class means, with respect to the Class B Notes, the Class A Notes.

  • Classes The Offered Certificates shall be issued with the following Class designations, interest rates and principal balances, subject in the aggregate to the variance referred to in Section 1(a)[and, as to any particular Class, to an upward or downward variance of up to [ ]%]: Principal Interest Class Purchase Class Balance Rate Price Percentage ----- ------- ---- ----------------

  • Voting Classes means Classes 4 and 5.

  • Junior Class of Certificates The Class of Subordinate Certificates outstanding as of the date of the repurchase of a Mortgage Loan pursuant to Section 4.07 herein that has the Lowest Priority.

  • Backward Classes means any socially and educationally Backward Classes of citizens recognized by the Government for purpose of clause (4) of article 15 of the Constitution of India;