Partnership Units definition

Partnership Units or “Units” has the meaning provided in the Partnership Agreement.
Partnership Units means the limited and general partnership units in the Partnership held by each of the Beneficiaries as of the Record Date.
Partnership Units means the common units representing limited partner interests in the Partnership having the rights and obligations specified with respect to “Common Units” as set forth in the Existing Partnership Agreement.

Examples of Partnership Units in a sentence

  • If the Sole Member repurchases any REIT Shares (other than REIT Shares repurchased with proceeds received from the issuance of other REIT Shares), then the General Partner shall cause the Partnership to purchase from the Sole Member a number of Partnership Units having the same Class designation as the redeemed REIT Shares for that Class of Partnership Units on the same terms that the Sole Member repurchased such REIT Shares (including any applicable discount to Net Asset Value).

  • The General Partner may keep the Partnership’s books and records current through separate revisions that reflect periodic changes to the capital contributions made by the Partners and redemptions and other purchases of Partnership Units by the Partnership, and corresponding changes to the Partnership Interests of the Partners, without preparing an amendment to this Agreement.

  • In the event that one or more Partnership Units are transferred in accordance with the terms of this Agreement, the transferee shall succeed to the Capital Account of the transferor to the extent it relates to the transferred Partnership Units.

  • Within 15 days of receipt of a Notice of Redemption, the Partnership will send to the Limited Partner submitting the Notice of Redemption a response stating whether the Sole Member has determined the applicable Partnership Units will be redeemed for REIT Shares or the Cash Amount.

  • If the number of outstanding Partnership Units increases or decreases during a taxable year, each Partner’s Percentage Interest shall be adjusted by the General Partner effective as of the effective date of each such increase or decrease to a percentage equal to the number of Partnership Units held by such Partner divided by the aggregate number of Partnership Units outstanding after giving effect to such increase or decrease.


More Definitions of Partnership Units

Partnership Units is defined in the Recitals of this Agreement.
Partnership Units means limited partnership interests of the Partnership. The holder has the option of requiring the Company to redeem such interests. The Company may elect to effectuate such redemption by either paying cash or exchanging Company Shares for such interests.
Partnership Units means partnership units of the Operating Partnership.
Partnership Units means the interest in the Operating Partnership of any Partner which entitles a Partner to the allocations (and each item thereof) specified in the Partnership Agreement and all distributions from the Operating Partnership, and its rights of management, consent, approval, or participation, if any, as provided in the Partnership Agreement. Partnership Units do not include Preferred Units. Each Partner's percentage ownership interest in the Operating Partnership shall be determined by dividing the number of Partnership Units then owned by each Partner by the total number of Partnership Units then outstanding.
Partnership Units is used herein to refer, collectively, to the Partnership Units, the Preferred Partnership Units and the Series A Partnership Units.
Partnership Units. Shall have the meaning set forth in the OP Agreement.
Partnership Units shall have the meaning ascribed thereto in the Partnership Agreement.