Preference Units definition

Preference Units means a Partnership Interest, designated as a “Preference Unit,” including the Series A Preference Units, the Series B Preference Units and the Series C Preference Units, which entitles the holder thereof to a preference with respect to distributions, or as to the distribution of assets upon any Liquidation Event, over Common Units.
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Preference Units are units of Partnership Interest more particularly described in Section 3.2 below.
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Preference Units means Preference Units as defined in the Partnership Agreement.
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Examples of Preference Units in a sentence

  • If and as the General Partner or any other Partner makes additional Capital Contributions to the Partnership, each such Partner shall receive additional OP Units and/or Preference Units as provided for in Section 3.2(B) above.

  • No distributions shall be made with respect to Preference Units pursuant to this Section 6.3.

  • To the fullest extent permitted by applicable law, the General Partner, Partnership, the Transfer Agent and the Paying Agent may deem and treat any Series A Holder as the true, lawful and absolute owner of the applicable Series A Preference Units for all purposes, and neither the General Partner, the Partnership nor the Transfer Agent or the Paying Agent shall be affected by any notice to the contrary.

  • The Series A Preference Units represent perpetual equity interests in the Partnership and shall not give rise to a claim by the holder for redemption thereof at a particular date.

  • At the option of the General Partner, such a program may also be made available with respect to Preference Units.


More Definitions of Preference Units

Preference Units has the meaning set forth in Section 4.2.E.
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Preference Units means any Limited Partnership Interests of any class ranking senior (as to preferential distributions or redemption or voting rights) to the Common Units.
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Preference Units means Series A Preferred Units as such term is ---------------- defined in the Agreement of Limited Partnership.
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Preference Units means the preference units representing preference limited partner interests in the Partnership.
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Preference Units means, collectively, the Common Preference Units and the Series A Preference Units.
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Preference Units means the non-voting preferred membership interests in the Coop. “Reclassification Event” has the meaning ascribed thereto in Sections 2.02(3). “Reorganization” has the meaning ascribed thereto in Section 2.02(2).
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Preference Units means the 9.30% Series B Cumulative Redeemable Preferred Units more fully described in the Amendment.
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