Preferred Equity Units definition

Preferred Equity Units means a series of preferred equity interests to be authorized by Rhino after the Closing Date with terms satisfactory to the Payee in its sole discretion.
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Preferred Equity Units means a security (or combination of securities) that (i) gives the holder a beneficial interest in (A) the most junior subordinated debt of the Corporation (or debt that is pari passu with the most junior subordinated debt of the Corporation), interest on which may be deferred for five years or more and, commencing with the date two years after the beginning of an interest deferral period, will be paid pursuant to an Alternative Payment Mechanism, and (B) a fractional interest in a contract to purchase Common Stock or Qualifying Non-Cumulative Preferred Stock, (ii) includes a remarketing feature pursuant to which subordinated debt of the Corporation is remarketed to new investors within five years from the date of issuance of the security or earlier in the event of an early settlement event based on (A) the capital or other applicable ratios of the Corporation or (B) the dissolution of the issuer of such Preferred Equity Units, (iii) provides for the proceeds raised in the remarketing to be used to purchase Common Stock or Qualifying Non-Cumulative Preferred Stock of the Corporation, (iv) includes an Explicit Replacement Covenant, provided that such Explicit Replacement Covenant will not include Preferred Equity Units in the definition of “replacement capital securities,” and (v) after the issuance of such Common Stock or Qualifying Non-Cumulative Preferred Stock, provides the holder of the security with a beneficial interest in such Common Stock or Qualifying Non-Cumulative Preferred Stock.
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Examples of Preferred Equity Units in a sentence

  • Affiliate Partner Note, the TRUPS Junior Subordinated Notes, the GGPLP LLC Preferred Equity Units, the GGP LP Preferred Equity Units, and the REIT Preferred Stock Interests is provided in Exhibit 3 “Illustrative Calculations for Debt Amounts”.

  • Also on March 14, 2023, AMC convened the Special Meeting, whereat the Proposals were approved by a majority of Common Stock and Preferred Stock, including Preferred Stock shares corresponding to uninstructed AMC Preferred Equity Units, voting together as a class.

  • The Proposals would allow for the full conversion of all outstanding AMC Preferred Equity Units into shares of Common Stock (the “Conversion”).

  • On December 22, 2022, AMC entered into an agreement (the “ Antara Agreement”) with Antara Capital, LP (“Antara”) to raise $110 million of new equity capital through the sale of AMC Preferred Equity Units to Antara.

  • Plaintiffs and Class Counsel believe that the claims asserted in the Action have merit but acknowledge that Defendants had potential defenses thereto, including that the AMC board of directors purportedly had a compelling justification for (i) issuing AMC Preferred Equity Units and (ii) taking steps to convert AMC Preferred Equity Units into shares of Common Stock.

  • The New GGPLP LLC Preferred Equity Units will have no voting rights except with respect to the issuance of equity interests of Reorganized GGPLP LLC ranking senior to the New GGPLP LLC Preferred Equity Units with respect to payment of dividends or distribution of assets or the amendment, alteration or repeal of the Reorganized GGPLP LLC Operating Agreement so as to materially and adversely affect any special right, preference, privilege or voting power of the New GGPLP LLC Preferred Equity Units.

  • The New GGP LP Preferred Equity Units have no voting rights except with respect to the issuance of equity interests of Reorganized GGP LP ranking senior to the New GGP LP Preferred Equity Units with respect to payment of dividends or the distribution of assets or the amendment, alteration or repeal of the Reorganized GGP LP Limited Partnership Agreement so as to materially and adversely affect any special right, preference, privilege or voting power of the New GGP LP Preferred Equity Units.

  • Background of the Charter Amendment Proposals; Reasons for Seeking Stockholder Approval Issuance of AMC Preferred Equity Units On August 4, 2022, the Company announced that its Board declared a special dividend of one APE for each share of Common Stock outstanding at the close of business on August 15, 2022, and on August 19, 2022, the Company issued on a pro rata basis 516,820,595 APEs to holders of Common Stocks (the “Special Dividend”).

  • The Preferred Equity Units are exchangeable at the option of QIA into LP Units at a price of $25.70 per unit and were issued in three tranches of $600 million each, with an average dividend yield of 6.5% and maturities of seven, ten and twelve years.

  • Holders of GGP Common Stock, GGP LP Common Units and GGP LP Preferred Equity Units will receive Spinco Common Stock in connection with the Spinco Share Distribution.

Related to Preferred Equity Units

  • Preferred Equity means any stock, shares or other ownership interests in the issuer thereof howsoever evidenced (including, without limitation, limited liability company membership interests), whether with or without voting rights, that is entitled to dividends or distributions prior to the payment of dividends or distributions with respect to Common Equity.

  • Preferred Equity Interests means, with respect to any Person, Equity Interests in such Person which are entitled to preference or priority over any other Equity Interest in such Person in respect of the payment of dividends or distribution of assets upon liquidation or both.

  • Preferred Equity Interest in any Person, means an Equity Interest of any class or classes (however designated) which is preferred as to the payment of dividends or distributions, or as to the distribution of assets upon any voluntary or involuntary liquidation or dissolution of such Person, over Equity Interests of any other class in such Person.

  • Preferred Units means all Partnership Interests designated as preferred units by the General Partner from time to time in accordance with Section 4.02 of the Partnership Agreement.

  • Preferred Interests means, with respect to any Person, Equity Interests issued by such Person that are entitled to a preference or priority over any other Equity Interests issued by such Person upon any distribution of such Person’s property and assets, whether by dividend or upon liquidation.

  • Class A LP Units means the Class A limited partnership units of the Partnership.

  • Equity Preferred Securities means, with respect to any Person, any trust preferred securities or deferrable interest subordinated debt securities issued by such Person or other financing vehicle of such Person that (i) have an original maturity of at least twenty years, and (ii) require no repayments or prepayments and no mandatory redemptions or repurchases, in each case, prior to the first anniversary of the latest Maturity Date.

  • Class B Units has the meaning set forth in Section 3.04(a)(ii).

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Series B Preferred Units shall have the meaning provided in Section 1.

  • Subordinated Units has the meaning assigned to such term in the Partnership Agreement.

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

  • Series A Preferred Units has the meaning assigned to such term in Section 5.11(a).

  • Common Units is defined in the Partnership Agreement.

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.

  • Class B Warrants means the Common Stock purchase warrants delivered to the Purchasers at the Closing in accordance with Section 2.2(a) hereof, which Warrants shall be exercisable immediately and have a term of exercise equal to 5 years, in the form of Exhibit C attached hereto.

  • Company Units has the meaning set forth in the Recitals.

  • Junior Units means any Partnership Unit representing any class or series of Partnership Interest ranking, as to distributions, or rights upon voluntary or involuntary liquidation, dissolution or winding up of the Partnership, junior to Series A Preferred Units.

  • Preferred Shares means shares of Series A Junior Participating Preferred Stock, par value $.01 per share, of the Company having the rights and preferences set forth in the Form of Certificate of Designations attached to this Agreement as Exhibit A.

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

  • Series C Preferred Units means the series of Partnership Units representing units of Limited Partnership Interest designated as the 8 5/8% Series C Cumulative Redeemable Preferred Units, with the designations, preferences and other rights set forth in Attachment C hereto.

  • Class B Preferred Stock means the Class B Cumulative Convertible Preferred Stock, par value $0.01 per share, of the Previous General Partner.

  • Parity Units means any Partnership Securities, including Preferred Units, that the Partnership may authorize or issue, the terms of which provide that such securities shall rank equally with the Series A Preferred Units with respect to payment of distributions and distribution of assets upon a Dissolution Event.

  • Class B Interests As set forth in the Trust Agreement.

  • Series A Units means Series A currency hedged mutual fund units or Series A non-currency hedged mutual fund units of a fund, as applicable.

  • Class C Shares means the shares of Class C common stock of the Company.