Unit Recipient definition

Unit Recipient means a Seller or a partner or member of Seller who will receive Units pursuant to Paragraph 3 hereof.
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Unit Recipient means each equity owner of a Contributor who receives Units at the First Closing, as set forth on the Allocation Chart (collectively, the "Unit Recipients").
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Unit Recipient understands the risks of, and other considerations relating to, the acquisition of the Units. Unit Recipient, by reason of its business and financial experience, together with the business and financial experience of those persons, if any, retained by it to represent or advise it with respect to its investment in the Units, (i) has such knowledge, sophistication and experience in financial and business matters and in making investment decisions of this type, that it is capable of evaluating the merits and risks of an investment in the Operating Partnership and of making an informed investment decision, (ii) is capable of protecting its own interests or has engaged representatives or advisors to assist it in protecting its interests and (iii) is capable of bearing the economic risk of such investment.
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Examples of Unit Recipient in a sentence

  • Each LP Unit Recipient recognizes that it may be required to bear the economic risk of an investment in the LP Units for an indefinite period of time.

  • Each LP Unit Recipient represents that its LP Units are being acquired by it with the present intention of holding such LP Units for purposes of investment, and not with a view towards sale or any other distribution.

  • Contributor and each LP Unit Recipient is an Accredited Investor.

  • Contributor and each LP Unit Recipient has such knowledge and experience in financial and business matters so as to be fully capable of evaluating the merits and risks of an investment in the LP Units.

  • Such other documents and instruments as may reasonably be required by Contributor, the LP Unit Recipient or its or their respective counsel or the Title Company and that are necessary to consummate the transaction which is the subject of this Agreement and to otherwise effect the agreements of the parties hereto.

  • No Contributor or LP Unit Recipient requires the consent of any Interest Holder in order to consummate the transactions contemplated by this Agreement, including, without limitation, to amend any partnership agreement, operating agreement, charter or other governing document of Contributor or any LP Unit Recipient, and no Interest Holder has been solicited to approve the transactions contemplated by this Agreement.

  • Each LP Unit Recipient acknowledges that the LP Units have not been registered under the Act.

  • Each LP Unit Recipient has been furnished with the informational materials described in Section 3.4 (collectively, the “Informational Materials”), and has read and reviewed the Informational Materials and understands the contents thereof.

  • The number of LP Units issued to each LP Unit Recipient shall be allocated as Convertible Common Units on the same percentage basis described in the first sentence of Section 3.3.1 above.

  • Each Class P Series Sub-Account shall initially be zero and shall be adjusted as provided in Section 3.6(a) as if the Class P Series Sub-Account was a Capital Account and the applicable Class P Unit Recipient was a Partner in the Partnership that only held the Class P Series Units of such Class P Series.


More Definitions of Unit Recipient

Unit Recipient means the direct or indirect owner of a -------------- Partnership interest who will receive Units pursuant to Section 2.2(b) hereof.
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Unit Recipient means (i) any Contributor who acquires OP Units at a Closing, (ii) the individuals, trusts and/or entities designated by any Contributor to acquire OP Units at a Closing pursuant to Section 1.2(b) or (iii) the individuals, trusts and/or entities that are expected to receive OP Units from a Contributor in connection with such Contributor’s dissolution and liquidation contemplated by Section 1.2(a). (mmm) “Valuation” is defined in Section 1.2(a). [Signature Pages to Follow]
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Related to Unit Recipient

  • Sub-Recipient means a partner, joint venturer, director, employee, agent and subcontractors of a Recipient to whom a Recipient must disclose Confidential Information.

  • Grant Recipient means the national government or a national government entity authorised to control or spend money under this Act or an incorporated or unincorporated body not otherwise authorised to control or spend money under this Act;

  • Designated recipient means a person chosen by a user using an online tool to administer digital assets of the user.

  • Award Recipient means the person, entity or entities that are to receive or have received grant funds through an award from the Illinois State Board of Education. The terms "grantee" and "award recipient" may be used interchangeably.

  • Company Service Provider means an employee, individual consultant, individual independent contractor, individual self-employed contractor, leased or temporary employee or director of the Company or any of its Subsidiaries.