Newly Issued Common Unit definition

Newly Issued Common Unit shall be deemed to include LTIP Units issued during a Common Unit Distribution Period and Section 8.1(a) shall apply in full to LTIP Units. During any Common Unit Distribution Period, so long as any LTIP Units are outstanding, except upon liquidation of the Company and as provided in the following sentence and Section 10.4, no distributions (whether in cash or in kind) shall be authorized, declared or paid on Common Units, unless equal distributions have been or contemporaneously are authorized, declared and paid on the LTIP Units for such Common Unit Distribution Period. The LTIP Units shall rank pari passu with the Common Units as to the payment of regular and special periodic or other distributions and distribution of assets upon liquidation, dissolution or winding up, provided upon liquidation the amount distributed with respect to a LTIP Unit shall be limited to the related Capital Account balance as provided by Section 10.4. As to the payment of distributions and as to distribution of assets upon liquidation, dissolution or winding up, any class or series of Units or Membership Interests which by its terms specifies that it shall rank junior to, on a parity with, or senior to the Common Units shall also rank junior to, or pari passu with, or senior to, as the case may be, the LTIP Units. Subject to the terms of any Vesting Agreement, a LTIP Unitholder shall be entitled to transfer his or her LTIP Units to the same extent, and subject to the same restrictions as holders of Common Units are entitled to transfer their Common Units pursuant to Article IX.
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Newly Issued Common Unit means with respect to any Common Unit Distribution Period, a Common Unit issued during such Common Unit Distribution Period, other than to Ashford Inc. and other than Common Units outstanding on the Effective Date.
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Newly Issued Common Unit shall be deemed to include LTIP Units issued during a Common Unit Distribution Period and Section 8.1(a) shall apply in full to LTIP Units. During any Common Unit Distribution Period, so long as any LTIP Units are outstanding, except upon liquidation of the Company and as provided in the following sentence and Section 10.4, no distributions (whether in cash or in kind) shall be authorized, declared or paid on Common Units, unless equal distributions have been or contemporaneously are authorized, declared and paid on the LTIP Units for such Common Unit Distribution Period.
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More Definitions of Newly Issued Common Unit

Newly Issued Common Unit means with respect to any Distribution Period, a Common Unit issued during such Distribution Period, other than to Ashford OP Limited Partner, LLC.
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Related to Newly Issued Common Unit

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

  • Class B Common Unit means one of that certain class of Common Units with those special rights and obligations specified in this Agreement as being appurtenant to a “Class B Common Unit”.

  • Class A Common Unit means a Common Unit having the rights and obligations specified with respect to Class A Common Units in this Agreement.

  • Parent Class B Common Stock means the Class B Common Stock, par value $0.01 per share, of Parent.

  • Parent Class A Common Stock means the Class A Common Stock, par value $0.01 per share, of Parent.

  • Class D Common Stock means the Class D Common Stock, par value $0.01 per share, of the Company.

  • Class B Common Units has the meaning set forth in Section 1(a) hereof.

  • Class A Common Units means the Company's Class A Common Units.

  • Existing Common Stock means shares of common stock of Delphi that are authorized, issued, and outstanding prior to the Effective Date.

  • Class C Ordinary Share shall have the meaning ascribed to it in Section 2.4(a).

  • Class B Common Stock means the Class B Common Stock, par value $0.01 per share, of the Company.

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

  • New Common Stock means shares of Common Stock and/or securities convertible into, and/or other rights exercisable for, Common Stock, which are offered or sold in a New Transaction.

  • SpinCo Common Stock means the common stock, par value $0.01 per share, of SpinCo.

  • Series A Common Stock means the Series A Common Stock, par value $0.01 per share, of the Company.

  • REIT Shares means shares of common stock, $0.01 par value per share, of the Company.

  • Company Class A Common Stock means the Class A Common Stock, par value $0.01 per share, of the Company.

  • Class A Common Stock means the Class A Common Stock, par value $0.01 per share, of the Company.

  • Company Class B Common Stock means the Class B common stock, par value $0.01 per share, of the Company.

  • Partnership Unit means, with respect to any class of Partnership Interest, a fractional, undivided share of such class of Partnership Interest issued pursuant to Sections 4.1 and 4.3 (including Performance Units). The ownership of Partnership Units may be evidenced by a certificate for units substantially in the form of Exhibit D-1 or D-2 hereto or as the General Partner may determine with respect to any class of Partnership Units issued from time to time under Sections 4.1 and 4.3.

  • REIT Share means a share of common stock, par value $.01 per share, of the General Partner.

  • Class B Ordinary Share means an Ordinary Share of a par value of US$0.0001 in the capital of the Company, designated as a Class B Ordinary Share and having the rights provided for in these Articles;

  • Common Unit Economic Balance has the meaning set forth in Section 5.01(g) hereof.

  • Common Unit Arrearage means, with respect to any Common Unit, whenever issued, as to any Quarter within the Subordination Period, the excess, if any, of (a) the Minimum Quarterly Distribution with respect to a Common Unit in respect of such Quarter over (b) the sum of all Available Cash distributed with respect to a Common Unit in respect of such Quarter pursuant to Section 6.4(a)(i).

  • Common Units is defined in the Partnership Agreement.

  • Class B Common Shares means shares of the Class B Common Stock, par value $.01 per share, of the Company.