Class B OP Units definition

Class B OP Units shall have the meaning set forth in Section 6.1(c).

Class B OP Units means Class B units of limited partnership of our operating partnership, as described under “Description of the Partnership Agreement of Our Operating Partnership;”

Class B OP Units. Class B units of limited partnership interests in the Operating Partnership. Closing Date: December 23, 2019 or such other time or such other date as Stifel and the Company may agree. Commission: The U.S. Securities and Exchange Commission.

Examples of Class B OP Units in a sentence

• The following recommendation was made: Strategic Communications Plan THAT the Board of Trustees with the Renfrew County District School Board approve Strategic Communications Plan 2022-2025.

• The issuance of Class B OP Units generally occurs when MAA issues common stock and the proceeds from that issuance are contributed to MAALP in exchange for the issuance to MAA of a number of OP Units equal to the number of shares of common stock issued.

• Issuance or redemption of additional Class A OP Units or Class B OP Units changes the relative ownership percentage of the partners.

• Class A OP Units are any OP Units other than Class B OP Units, while Class B OP Units are those issued to or held by MAALP’s general partner or any of its subsidiaries.

• Likewise, if MAA repurchases or redeems outstanding shares of common stock, MAALP generally redeems an equal number of Class B OP Units with similar terms held by MAA for a redemption price equal to the purchase price of those shares of common stock.

More Definitions of Class B OP Units

Class B OP Units and, together with the Class A OP Units, “OP Units”). Each holder of OP Units is referred to herein as a “Holder” and collectively, the “Holders.” The Holders are the beneficial owners of OP Units issued and outstanding on the date hereof after giving effect to (i) the Formation Transactions (as defined in the Company’s Preliminary Offering Memorandum, subject to completion, dated as of November 26, 2019 (the “Preliminary Offering Memorandum”) and (ii) the closing of the offering of Common Stock (the “Private Offering”) pursuant to that certain Purchase/Placement Agreement, dated as of December 19, 2019, by and among the Company, the Operating Partnership and Stifel (the “Purchase/Placement Agreement”), Nicolaus & Company, Incorporated, a Missouri corporation, as the initial purchaser/placement agent (“Stifel”) and the application of the net proceeds of the Private Offering as described under the heading “Use of Proceeds” in the Preliminary Offering Memorandum. In connection with the Formation Transactions, the parties desire to enter into this Agreement in order to grant certain registration rights to the Holders as set forth herein. The parties hereto hereby agree as follows:

Class B OP Units. As defined in the preamble.

Class B OP Units shall have the meaning set forth in the Recitals hereof.

Class B OP Units means Class B common units of limited partner interest in the Operating Partnership (including the number of Class B OP Units issuable upon the exchange of DownREIT Class B Units (as defined in the Partnership Agreement)).

Class B OP Units means the Class B common units of limited partner interest in the Partnership, including the Series GN, Series NW, Series OV, Series SC, and Series SS Class B OP Units and any other series of Class B OP Units as set forth in a Partnership Unit Designation. Each Partnership Unit Designation with respect to any series of Class B OP Units shall provide that such series of Class B OP Units shall correspond to a particular Facilities Portfolio. Partnership Unit Designations, as may be amended from time to time, for the Series GN, Series NW, Series OV, Series SC, and Series SS Class B OP Units are attached hereto as Exhibits F-1, F-2, F-3, F-4, and F-5 respectively.

Class B OP Units has the meaning as set forth in Section 1.4.

Class B OP Units into Class A OP Units in accordance with the Partnership Unit Designation relating to the Class B OP Units.