Common Unit Distribution definition
Common Unit Distribution has the meaning set forth in Section 4.04(a) hereof.
Common Unit Distribution shall have the meaning set forth in Section 4.2.C hereof.
Common Unit Distribution means cash distributions per Series A Preferred Unit equal in value to (i) the amount of any cash distribution declared or paid, without duplication, on a Common Unit at any time such Series A Preferred Unit was outstanding multiplied by (ii) the Series A Conversion Factor (as defined below) in effect on the date of declaration of such distribution. For the avoidance of doubt, the distributions paid to Series A Unitholders shall be in the form of cash consideration and any non-cash consideration distributed with respect to a Common Unit or REIT Share shall be taken into account in the Series A Conversion Factor or the Conversion Factor, as applicable. Any distribution payable on a Series A Preferred Unit for any partial distribution period during which such Series A Preferred Unit was outstanding will be computed in accordance with Section 5.02 of the Partnership Agreement. The distributions upon the Series A Preferred Units shall be paid in arrears (without interest) on the distribution payment date with respect thereto. If the full amount of the Series A Distribution is not paid on such distribution payment date, then the Series A Distribution shall accrue, whether or not the Partnership has earnings, whether or not there are funds legally available for the payment thereof and whether or not such distributions are earned, declared or authorized. The General Partner shall not declare, and the Partnership shall not pay or set aside for payment, any distribution on Junior Securities or redeem any Partnership Units held by any Person, including, without limitation, the General Partner and its Affiliates, at any time that the Series A Distribution has accrued but remains unpaid with respect to any outstanding Series A Preferred Unit unless concurrently with such distribution on Junior Securities or redemption the aggregate accrued but unpaid Series A Distribution on all outstanding Series A Preferred Units has been paid in full; provided that the Partnership shall be required to redeem pursuant to Section 5 of this Addendum any Series A Preferred Units submitted for redemption pursuant to such section and shall make the payment of the applicable Redemption Price prior to the payment of any Series A Distributions on any Series A Preferred Units not so redeemed, and in such event, any unpaid distributions to the Series A Unitholders that the Series A Unitholders would otherwise be entitled to receive shall accrue and remain payable to the Series A Unitholders. ...
Examples of Common Unit Distribution in a sentence
For the avoidance of doubt, in accordance with Section 4.4(a)(ii) hereof, the LTIP Unitholders shall be entitled to receive distributions in an amount per LTIP Unit equal to the Common Unit Distribution.