Common Partnership Unit definition

Common Partnership Unit means a fractional, undivided share of the Common Partnership Interests of all Partners issued hereunder. At all times there shall be maintained an equivalency of Common Partnership Units and REIT Common Shares, except as otherwise provided herein.

Common Partnership Unit means a Partnership Unit that is not a Preferred Partnership Unit.

Common Partnership Unit means a Partnership Unit that receives no preferential treatment.

Examples of Common Partnership Unit in a sentence

• For purposes of the preceding sentence, the value of a Common Partnership Unit shall equal the "Market Price" of a REIT Share (calculated in accordance with the second and third sentences of the definition of "Cash Amount") on the date of the conversion.

• If, in connection with any forfeiture of LTIP Partnership Units, the balance of the portion of the Capital Account of the Partner that is attributable to all of his or her LTIP Partnership Units exceeds such Partner’s Target Balance, such portion of such Partner’s Capital Account shall be reduced to the Target Balance, and the LTIP Economic Balance of each such holder’s LTIP Partnership Units shall be deemed to equal the Common Partnership Unit Economic Balance.

• Notwithstanding anything herein to the contrary, in no event may a Partner receive a distribution with respect to a Common Partnership Unit for a quarter or shorter period if such Partner is entitled to receive a distribution for such quarter or shorter period with respect to a Common Share for which such Common Partnership Unit has been redeemed or exchanged.

• On or after October 8, 2014 the General Partner is authorized at the direction of the Company to distribute to the holders of Common Partnership Units, including for this purpose LTIP Units, and each such holder shall accept, one common unit of Ashford Hospitality Advisors LLC for each Common Partnership Unit, including for this purpose LTIP Units, outstanding on that date.

• Until Ashford OP Limited Partner LLC exchanges common units of Ashford Hospitality Advisors LLC for shares of common stock of Ashford Inc., in order to exercise the Redemption Right, a Redeeming Partner must deliver to the General Partner with each Common Partnership Unit to be redeemed one common unit of Ashford Hospitality Advisors LLC.

More Definitions of Common Partnership Unit

Common Partnership Unit means any Common Series A Unit and any Common Series B Unit.

Common Partnership Unit means any Class A, Class B, Class C, Class D and Class E Unit and any other Partnership Unit that is not a Preference Unit.

Common Partnership Unit means a fractional, undivided share of the ownership interests in the Partnership issued hereunder to the General Partner and the Class A Limited Partners. The allocation of Common Partnership Units among the General Partner and the Class A Limited Partners shall be as set forth on Exhibit A, as may be amended from time to time. Upon any redemption, issuance or transfer of Common Partnership Units, the General Partner shall prepare a schedule in the form of Exhibit A reflecting the names of the then-current Partners, their Common Percentage Interests or Preferred Percentage Interests, and the number of Common Partnership Units or Preferred Partnership Units owned by each Partner.

Common Partnership Unit means any Partnership Unit other than any series of units of limited partnership interest issued in the future and designated as preferred or otherwise different from the Common Partnership Units, including, but not limited to, with respect to the payment of distributions, including distributions upon liquidation.

Common Partnership Unit means a fractional, undivided common share of the ownership interests in the REIT Partnership issued under the REIT Partnership Agreement.

Common Partnership Unit. Common Partnership Unit" shall mean a fractional, undivided share of the Common Partnership Interests of all Partners issued hereunder. As of September 30, 2002, there shall be considered to be _________________________ Common Partnership Units outstanding, with each Common Partnership Unit representing a ____ percent (____%) Common Percentage Interest in the Partnership. At all times there shall be maintained an equivalency of Common Partnership Units and REIT Common Shares, except as otherwise provided herein, and except that the conversion of the Subordinated Convertible Debt shall be effected without the issuance of additional REIT Common Shares.

Common Partnership Unit means the measure of a Partner's right to certain distributions and allocations, as specified in Section 5.