Depositary Unit definition

Depositary Unit means an increment of the attributes of the Interest of the Depositary as the Limited Partner of the Limited Partnership that is assigned to a Unit Holder.

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Depositary Unit means a depositary unit representing a Unit on deposit with the Depositary pursuant to the Depositary Agreement.

Depositary Unit means a depositary unit representing a Unit on deposit with the Depositary pursuant to the Deposit Agreement.

Examples of Depositary Unit in a sentence

By executing or adopting this Agreement, each Limited Partner and Substituted Limited Partner and, by the purchase of a Depositary Unit, each Unit Holder hereby consents to the admission of Substituted Limited Partners by the General Partner in accordance with the foregoing.
Limited Partners (other than the Depositary) and Unit Holders shall vote on all matters in respect of which they are entitled to vote (either in person, by proxy, or by written consent), as a single class, with each Limited Partner Interest and each Depositary Unit entitled to one vote; provided, however, that the Depositary shall vote on behalf of and only as directed by the Unit Holders.
Without limiting the generality of Section 7.2A, persons who become Limited Partners pursuant to Section 7.3 below and Unit Holders shall share pari passu on the basis of one Limited Partner Interest for one Depositary Unit, and shall be considered as a single class, with respect to all rights to receive distributions and allocations pursuant to this Agreement.
Each transferee of a Unit (including any Person, such as a broker, dealer, bank, trust company, clearing corporation, other nominee holder or an agent of any of the foregoing, acquiring such Depositary Unit for the account of another Person) shall apply to become an Additional Limited Partner with respect to the Units transferred by executing and delivering a Transfer Application at the time of such transfer.
Persons who effect such conversion will receive one Limited Partner Interest for each Depositary Unit they convert and will not be able to re-exchange their Limited Partner Interests for Depositary Units.

More Definitions of Depositary Unit

Depositary Unit means a unit of ownership representing a Limited Partners’ Unit evidenced by a Certificate on deposit with the Depositary.

Depositary Unit. A Unit on deposit with the Depositary.

Depositary Unit. A Unit on deposit with the Depositary pursuant to the Deposit Agreement.

Depositary Unit means the certificated beneficial ownership of one Trust Unit and an undivided one-fiftieth interest in a specific Treasury Obligation in a face amount of $1,000, as evidenced by a SPER™.

Depositary Unit means the Person in whose name the Depositary Receipt evidencing such Depositary Unit is issued, as registered on the books of the Depositary as of the close of business on a particular business day, and as applied to the holder of a Certificate means the Person shown as the owner of such Certificate on the records of the Depositary or the Partnership.

Depositary Unit means the interest of a Holder representing such fractional part of the interest of all Holders in the Securities that have been deposited with the Depositary pursuant to this Agreement.

Depositary Unit means a Class A Unit on deposit with the Depositary pursuant to the Depositary Agreement. “Distribution Deficit,” as determined for each calendar quarter, means the excess, if any, of (a) the Indicated