Base Liquidation Preference definition

Base Liquidation Preference shall have the meaning provided in Section 6(a).

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Base Liquidation Preference means, with respect to Series A Preferred Units, Base Liquidation Preference as defined in Annex A hereto, and, with respect to Series C Preferred Units, Series C Base Liquidation Preference as defined in Annex B hereto.

Base Liquidation Preference per Series 8 Convertible Preferred Share shall initially be equal to the Original Purchase Price. From and after the one year anniversary of the Series 8 Original Issuance Date through March 14, 2024, the Base Liquidation Preference of each Series 8 Convertible Preferred Share shall increase on a daily basis, on the basis of a 360-day year consisting of twelve 30-day months, at a rate of 6.0% per annum (the “Accretion Rate”) of the then-applicable Base Liquidation Preference, the amount of which increase shall compound quarterly each March 31, June 30, September 30 and December 31 (each, a “Quarterly Compounding Date”), following which the Accretion Rate will decrease to 0% per annum and the Base Liquidation Preference per Series 8 Convertible Preferred Share will not increase during any period subsequent to March 14, 2024. The Base Liquidation Preference shall be proportionally adjusted for any stock dividends, splits, combinations and similar events on the Series 8 Convertible Preferred Shares. For the avoidance of doubt, from and after the Series 8 Original Issuance Date until the one year anniversary of the Series 8 Original Issuance Date, the Accretion Rate will be 0% per annum and the Base Liquidation Preference per Series 8 Convertible Preferred Share will not increase during such period.

Examples of Base Liquidation Preference in a sentence

• In addition, upon the occurrence of a Delisting Event, the distributions rate specified in Section 5(a) hereof shall be increased on the day after the occurrence of the Delisting Event by 2.00% per annum to the rate of 9.375% of the Base Liquidation Preference per unit per year (equivalent to $2.34375 per unit per year) from and after the date of the Delisting Event.

• Holders of the Series C Preferred Units shall be entitled to receive, when and as authorized by the General Partner, and declared by the Partnership out of funds of the Partnership legally available for payment, preferential cumulative cash distributions at the rate of 6.50% per annum of the Series C Base Liquidation Preference (as defined below) per unit (equivalent to a fixed annual amount of $1.625 per unit) (the “Series C Preferred Return”).

• On and after September 21, 2016, the Partnership, at its option, upon not less than 30 nor more than 60 days’ written notice, may redeem the Series B Preferred Units, in whole or in part, at any time or from time to time, for cash at a redemption price equal to the Base Liquidation Preference, per Series B Preferred Unit, plus all accrued and unpaid distributions thereon to, but not including, the date fixed for redemption (the “Series B Redemption Date”), without interest.

• On and after March 18, 2018, the Partnership, at its option, upon not less than 30 nor more than 60 days’ written notice, may redeem the Series C Preferred Units, in whole or in part, at any time or from time to time, for cash at a redemption price equal to the Base Liquidation Preference, per Series C Preferred Unit, plus all accrued and unpaid distributions thereon to, but not including, the date fixed for redemption (the “Series C Redemption Date”), without interest.

• If any Series C Units remain outstanding on March 19, 2018 (the “Maturity Date”), the Partnership shall redeem all such Series C Units in cash in an amount equal to the Base Liquidation Preference, plus an amount equal to all accumulated and unpaid distributions to and including the Maturity Date for each such unit (the “Maturity Date Redemption Price”).

More Definitions of Base Liquidation Preference

Base Liquidation Preference means, in respect of any Component or Preferred Interest at any time, the Initial Base Liquidation Preference for such Component or Preferred Interests accreted from the final Funding Date to such time at the Accretion Rate, as reasonably determined by the Calculation Agent. Prior to the final Funding Date, the Base Liquidation Preference for any Component or Preferred Interest at any time shall be the Initial Base Liquidation Preference for such Preferred Interest determined as of such time.

Base Liquidation Preference means, on any date of determination, with respect to any particular share of Series A Preferred Stock, the sum of (x) the Original Per Share Purchase Price (or a pro rata portion thereof in the case of fractional shares of Series A Preferred Stock, if any), (y) all Accumulated Dividends thereon as of such date of determination, and (z) all Accrued Dividends thereon as of such date of determination.

Base Liquidation Preference has the meaning specified in Section 8.03.

Base Liquidation Preference has the meaning set forth in the Series 6 Articles of Amendment.

Base Liquidation Preference means $25.00 per Series A Preferred Unit.

Base Liquidation Preference of any Parent Preferred Stock means the Liquidation Preference of such Parent Preferred Stock without giving effect to (x) the accrual of any dividends on such Parent Preferred Stock, or (y) the provisions of the Parent Certificate of Designation providing for redemption of such Parent Preferred Stock at a cash redemption price in excess of 100% of the Liquidation Preference thereof or the addition of Premium to the Liquidation Preference.

Base Liquidation Preference per Convertible Preference Share shall initially be equal to the Original Purchase Price. From and after the Series 4 Original Issuance Date, the Base Liquidation Preference of each Convertible Preference Share shall increase on a daily basis, on the basis of a 360-day year consisting of twelve 30-day months, at a rate of 8.0% per annum (the “Accretion Rate”) of the then-applicable Base Liquidation Preference, the amount of which increase shall compound quarterly on each March 31, June 30, September 30 and December 31 (each, a “Quarterly Compounding Date”) from the Series 4 Original Issuance Date through the fifth anniversary thereof, following which the Accretion Rate will decrease to 0% per annum and the Base Liquidation Preference per Convertible Preference Share will not increase during any period subsequent to such fifth anniversary. The Base Liquidation Preference shall be proportionally adjusted for any stock dividends, splits, combinations and similar events on the Convertible Preference Shares.