OP Units definition
Examples of OP Units in a sentence
As of the date hereof, there are 3,105,000 Series A Preferred OP Units outstanding, of which the Company owns, directly or indirectly, 3,105,000 Series A OP Units.
As of the date hereof, there are no Series B Preferred OP Units outstanding and at the Closing Date, there will be 2,000,000 Series B Preferred OP Units outstanding (assuming the Underwriters do not purchase the Optional Securities at the Closing Date).
As of the date hereof, there are 13,850,642 OP Units outstanding, of which the Company owns, directly or indirectly, 13,406,758 OP Units, and there are 543,326 vested and 159,965 unvested LTIP Units outstanding.
All outstanding Series A Preferred OP Units have been duly authorized; all outstanding Series A Preferred OP Units are validly issued and were sold in compliance with all applicable federal and state securities laws.
No consent, approval, authorization, or order of, or filing of registrations with, any Governmental Authority is required for the issuance and sale of the Company Series B Preferred OP Units by the Operating Partnership, except such as have been obtained or made and such as may be required under state securities laws.