Common Unit definition

Common Unit means a common unit representing a limited partner interest in the Partnership having the rights set forth in the Partnership Agreement.

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Common Unit means a Unit designated as a “Common Unit” and having the rights and obligations specified with respect to the Common Units in this Agreement.

Common Unit has the meaning set forth in the Partnership Agreement.

Examples of Common Unit in a sentence

Except to the extent specifically set forth in any Unit Designation, a Unit of any class or series other than a Common Unit shall not entitle the holder thereof to vote on, or consent to, any matter.
Any fractional interests in a Common Unit issued to a holder of Incentive Units in connection with an automatic conversion of Incentive Units pursuant to this Section 11.07 shall be aggregated with any other fractional interests in Common Units issued to such holder in connection with such automatic conversion, rounded [down] to the whole number of Common Units.
For the avoidance of doubt, any excess Tax Distributions a Member receives with respect to any Taxable Year shall reduce future Tax Distributions otherwise required to be made to such Member with respect to any subsequent Taxable Year, but shall not reduce Tax Distributions made to a Member holding Common Units to provide such Member with its Common Unit Percentage Interest of Tax Distributions made pursuant to Section 4.01(b)(i)(B).
For the avoidance of doubt, in no event shall the Members be entitled to receive in such Pubco Offer aggregate consideration for each Common Unit that is greater than the consideration payable in respect of each share of Pubco Class A-1 Common Stock or Pubco Class A-2 Common Stock, as applicable, in connection with such Pubco Offer (it being understood that payments under or in respect of the Tax Receivable Agreement shall not be considered part of any such consideration).

More Definitions of Common Unit

Common Unit means a security of the Trust representing a proportionate share of the Beneficial Interest having the rights and obligations specified with respect to a Common Unit in this Agreement. The term “Common Unit” does not refer to or include any Subordinated Unit prior to its conversion into a Common Unit pursuant to the terms hereof.

Common Unit means a Unit representing a fractional part of the Partnership Interests of all Limited Partners and Assignees and having the rights and obligations specified with respect to Common Units in this Agreement.

Common Unit has the meaning assigned to such term in the MLP Agreement.

Common Unit means a Class A Unit, a Class B Unit, and any other Unit designated as a Common Unit by the Company.

Common Unit means a Partnership Security having the rights and obligations specified with respect to Common Units in this Agreement.

Common Unit means each Partnership Unit that is not entitled to any preference with respect to any other Partnership Unit as to distribution or voluntary or involuntary liquidation, dissolution or winding up of the Partnership.

Common Unit does not refer to a Subordinated Unit prior to its conversion into a Common Unit pursuant to the terms hereof.