OP Unit definition

OP Unit means a Partnership Unit which is designated as an OP Unit of the Partnership.

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OP Unit means a unit of limited partnership interest in the Operating Partnership.

OP Unit means a fractional share of the Partnership Interests of all Partners issued pursuant to Sections 4.01 and 4.02 hereof, but does not include any LTIP Unit, Preferred Unit, Junior Unit or any other Partnership Unit specified in a Partnership Unit Designation as being other than an OP Unit; provided, however, that the General Partner Interest and the Limited Partner Interests shall have the differences in rights and privileges as specified in this Agreement.

Examples of OP Unit in a sentence

Each LTIP Unit shall convey the same consent or other voting rights as an OP Unit.
Except as otherwise provided in this Agreement, ANNEX L and any applicable LTIP Agreement, prior to its conversion, each LTIP Unit shall be treated as an OP Unit, with all of the rights, privileges and obligations attendant thereto.
A Limited Partner may not exercise the OP Unit Redemption Right for less than one thousand (1,000) OP Units or, if such Limited Partner holds less than one thousand (1,000) OP Units, all of the OP Units held by such Limited Partner.
Any Partnership Unit that is not specifically designated by the General Partner as being of a particular class shall be deemed to be an OP Unit.
For purposes of Section 8.6 of the Agreement, an OP Unit issued upon conversion of an LTIP Unit shall be deemed to have been issued when the LTIP Unit originally was issued.

More Definitions of OP Unit

OP Unit means a common unit of limited partnership interest of the Operating Partnership.

OP Unit means an Award granted under Section 10(a) of the Plan.

OP Unit means a fractional share of the Partnership Interests of all Partners issued pursuant to Article 4.

OP Unit means a unit of partnership interest in an OP.

OP Unit means a fractional share of the Partnership Interests of all Partners issued pursuant to Sections 4.1 and 4.3 hereof, but does not include any Contingent Conversion Unit, Preferred Unit, Junior Unit or any other Partnership Unit specified in a Partnership Unit Designation as being other than an OP Unit; provided, however, that the General Partner Interest and the Limited Partner Interests shall have the differences in rights and privileges as specified in this Agreement.

OP Unit means a Class A Unit or a Class T Unit, or the Class A Units and Class T Units collectively, as the context requires.

OP Unit means a fractional share of the Operating Partnership that is generally entitled to a pro rata share of distributions from the Operating Partnership.