ETP Class K Unit definition

ETP Class K Unit means a limited partner interest issued by ETP and designated a “Class K Unit” under the ETP Partnership Agreement. The ETP Class K Units were cancelled in the transactions contemplated by the ETP-SXL Merger Agreement and the holders thereof were issued Class K Units.
View Source

Examples of ETP Class K Unit in a sentence

  • The initial capital account with respect to each Class K Unit will be equal to the capital account of the ETP Class K Unit outstanding in ETP immediately prior to the ETP-SXL Merger that converted into the right to receive such Class K Unit.

Related to ETP Class K Unit

  • Class C Unit means a Partnership Security representing a fractional part of the Partnership Interests of all Limited Partners and Assignees, and having the rights and obligations specified with respect to the Class C Units in this Agreement. The term “Class C Unit” does not refer to a Common Unit until such Class C Unit has converted into a Common Unit pursuant to the terms hereof.

  • Class LT-R Interest The residual interest in the Lower-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Note Class Interest Distributable Amount With respect to any class of Notes and any Distribution Date, the product of (i) the outstanding principal balance of such class of Notes as of the close of the preceding Distribution Date (or, in the case of the first Distribution Date, the outstanding principal balance of such class of Notes on the Closing Date) and (ii) (a) in the case of the Notes, other than the Class A-1 Notes, one-twelfth of the Interest Rate for such class (or, in the case of the first Distribution Date, the Interest Rate for such class multiplied by a fraction, the numerator of which is 18 and the denominator of which is 360) and (b) in the case of the Class A-1 Notes, the product of the Interest Rate for such class of Notes for such Distribution Date and a fraction, the numerator of which is the number of days elapsed from and including the prior Distribution Date (or, in the case of the first Distribution Date, from and including the Closing Date), to but excluding that Distribution Date and the denominator of which is 360. Note Depository: The depository from time to time selected by the Indenture Trustee on behalf of the Issuing Entity in whose name the Notes are registered prior to the issue of Definitive Notes. The first Note Depository shall be Cede & Co., the nominee of the initial Clearing Agency.

  • Class C Member means a Member holding the Class C Ordinary Share.

  • GP Unit means a Partnership Unit which is designated as a GP Unit of the Partnership.