Class K Units definition

Class K Units means a limited partner interest in ETP having the rights and preferences set forth on Section 8.13 of the ETP Disclosure Schedule.
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Class K Units means a limited partner Partnership Interest which shall confer upon the holder thereof only the rights and obligations specifically provided in this Agreement with respect to Class K Units.
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Class K Units hall have the meaning given to such term in the Partnership Agreement.
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Examples of Class K Units in a sentence

  • With respect to any matter on which the Class K Units are entitled to vote, each Class K Unit will be entitled to one vote on such matter.

  • The Class K Units will be perpetual and shall not have any rights of redemption or conversion.

  • Unless the General Partner shall determine otherwise, the Class K Units shall not be evidenced by certificates.

  • Upon any Class K Redemption, an amount equal to the product of the Class K Redemption Price and the number of Class K Units redeemed by the Partnership shall be distributed by the Partnership to the Class K Limited Partner.

  • Upon a Class K Redemption by the Partnership, the Class K Limited Partner shall have no further right to receive any Partnership distributions in respect of the Class K Units so redeemed.

  • The Class K Units, subject to the satisfaction of any applicable legal, regulatory and contractual requirements, may be assigned or transferred in a manner identical to the assignment and transfer of other Units.

  • Any certificates relating to the Class K Units that may be issued will be in such form as the General Partner may approve.

  • The holders of Class K Units shall be allocated gross income such that, from the inception of the partnership through the end of the fiscal year to which the allocation relates, including the year of liquidation of the Partnership in accordance with Article X, the sum of all priority allocations pursuant to this Section 5.2(M) equals (or approaches as nearly as possible) the sum of all Class K Priority Return Amounts accrued through the end of the fiscal year to which the allocation relates.

  • No approval from the holders of the Common Units, Class E Units, Class G Units, Class H Units, Class I Units, Class J Units, Class K Units, Series A Preferred Units or Incentive Distribution Rights is required in connection with ETP’s issuance and sale of the Purchased Units to the Purchaser.

  • In accordance with Section 5.6, the General Partner shall have the power and authority to issue additional Class K Units in the future.


More Definitions of Class K Units

Class K Units hall have the meaning given to such term in the Partnership Agreement. “Closing(s)” shall have the meaning specified in Section 2.02.
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Class K Units means a limited partner interest in ETP having the rights and preferences set forth on Section 8.13 of the ETP Disclosure Schedule. “Clayton Act” means the Clayton Antitrust Act of 1914, as amended, and the rules and regulations promulgated thereunder.
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Class K Units means the Units in the Partnership designated as the “Class K Units” herein and having the rights pertaining thereto as are set forth in this Agreement. Class K Units shall be Vested Units for all purposes under this Agreement upon delivery.
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Related to Class K Units

  • Class A LP Units means the Class A limited partnership units of the Partnership.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Class B Units means the Units having the privileges, preference, duties, liabilities, obligations and rights specified with respect to “Class B Units” in this Agreement.

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.

  • Class B Common Units has the meaning set forth in Section 1(a) hereof.