Equitized Class P Series definition

Equitized Class P Series means any Class P Series all of the Class P Series Units of which have converted to Equitized Class P Series Units pursuant to Section 3.6(b).
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Examples of Equitized Class P Series in a sentence

  • For the purpose of determining the Class A Percentage Interest in the foregoing sentence, all Equitized Class P Series Units shall be treated as Class A Units.

  • Class P Series Sub-Accounts shall continue to be maintained with respect to Equitized Class P Series Units in each Equitized Class P Series.

  • In furtherance thereof (and notwithstanding anything to the contrary contained herein), prior to the time any Class P Unit becomes an Equitized Class P Series Unit or a Common Units is issued upon the forfeiture and cancellation of such Class P Unit, such Class P Unit shall not be entitled to receive any distribution hereunder that would result in an Adjusted Capital Account Deficit with respect to such Class P Unit.

  • For the avoidance of doubt (but notwithstanding anything to the contrary contained herein), once an Equitized Class P Series Unit is converted into a Common Unit hereunder, the Exchange of such Common Unit pursuant to the Exchange Agreement shall not entitle its holder to any payments under the Tax Receivable Agreement.

  • In light of Section 5.05(a), (b) and (c), no Profits or Losses will be allocated in respect of Class B Units or distributions attributable thereto or in respect of Class P Units that are not Equitized Class P Series Units.

  • Class P Series Sub-Accounts shall continue to be maintained for Equitized Class P Series.

  • Nonrecourse Deductions shall be allocated to the Partners holding Class A Units and Equitized Class P Series Units in accordance with their respective Class A Percentage Interests.

  • If an Equitized Class P Series Unit becomes a Vested Unit, such Equitized Class P Series Unit shall be converted automatically into a Class A Unit once the aggregate Class P Series Sub-Accounts for the Equitized Class P Series to which such Equitized Class P Series Unit belongs equal the product of the number of the Class P Units in such Equitized Class P Series and the Class A Unit Capital Account Amount (as determined at such time).

  • In this regard, it is the intention of the parties to this Agreement that any allocation of gain to a Class P Series Unit (other than an Equitized Class P Series Unit) be limited to gain that is economically accrued after the date such Class P Series Unit is issued, excluding any such gain to the extent it is attributable to an asset being acquired at a cost less than its fair market value (“Available Gains”).

  • For the purpose of determining the Class A Percentage Interest in the foregoing sentence, all Equitized Class P Series Units shall be treated as Class A Units to the extent they are entitled to distributions of such Profits.

Related to Equitized Class P Series

  • Subordinate Class Percentage With respect to any Distribution Date and any Class of Subordinate Certificates, a fraction, expressed as a percentage, the numerator of which is the aggregate Certificate Principal Balance of such Class of Subordinate Certificates immediately prior to such date and the denominator of which is the aggregate Stated Principal Balance of all of the Mortgage Loans (or related REO Properties) (other than the related Discount Fraction of each Discount Mortgage Loan) immediately prior to such Distribution Date.

  • Initial Subordinate Class Percentage As defined in the Series Supplement.

  • Class P designation on the face thereof, substantially in the form of Exhibit A-5 attached hereto, and evidencing a portion of a class of "regular interests" in REMIC III for purposes of the REMIC Provisions.

  • Group II Class A Certificates The Class A-2a Certificates, the Class A-2b Certificates, the Class A-2c Certificates and the Class A-2d Certificates, collectively.

  • Class P Principal Amount As of the Closing Date, $100.