Preferred Partnership Unit definition

Preferred Partnership Unit means a fractional, undivided share of Preferred Partnership Interests of all Partners in the specified series issued hereunder.

Preferred Partnership Unit means a fractional, undivided share of the Preferred Partnership Interests of all Partners issued hereunder.

Preferred Partnership Unit means any Partnership Unit issued from time to time pursuant to Section 4.2 hereof that is designated by the General Partner at the time of its issuance as a Preferred Partnership Unit. Each Preferred Partnership Unit shall have such designations, preferences and relative, participating, optional or other special rights, powers and duties, including rights, powers and duties senior to Limited Partner Interests and Common Partnership Units, all as shall be determined by the General Partner subject to the requirements of Section 4.2 hereof.

Examples of Preferred Partnership Unit in a sentence

• Quarterly distributions on each Series A Preferred Partnership Unit shall accrue and be cumulative from and including the date of original issue thereof, whether or not (i) quarterly distributions on such Series A Preferred Partnership Units are earned or declared or (ii) on any Quarterly Distribution Date there shall be funds legally available for the payment of quarterly distributions.

• For purposes of determining the number of Preferred Partnership Units to be delivered by the Acquiror at the Closing, each Preferred Partnership Unit shall be deemed to have a value equal to $11.00.

• Quarterly distributions on each Series B Preferred Partnership Unit shall accrue and be cumulative from and including the date of original issue thereof, whether or not (i) quarterly distributions on such Series B Preferred Partnership Units are earned or declared or (ii) on any Quarterly Distribution Date there shall be funds legally available for the payment of quarterly distributions.

• At any time that a Partner is treated as having made a contribution to the Partnership pursuant to Section 4.1(e) (unless all Partners are treated as having made such a contribution as provided in the proviso to Section 4.1(e)(ii)), the Partnership shall issue to such Partner, on the date on which such contribution is deemed made, one Preferred Partnership Unit for each $1,000 deemed contributed by such Partner on such date.

• Except as to matters upon which the General Partner is not entitled to vote under the Agreement, the holder(s) of each Series A Preferred Partnership Unit shall have Partner consent and approval rights equal to such rights as would a holder of Common Partnership Units into which such holder's Partnership Series A Preferred Partnership Units could then be converted.

More Definitions of Preferred Partnership Unit

Preferred Partnership Unit means (i) a Series A Preferred Partnership Unit, (ii) a Series B Preferred Partnership Unit and (iii) any other Partnership Unit issued after the date of this Agreement pursuant to Section 4.02 that is designated as a Preferred Partnership Unit.

Preferred Partnership Unit means a fractional, undivided share of the ownership interests in the Partnership issued hereunder to the Class B Limited Partners. The allocation of Preferred Partnership Units among the Partners shall be as set forth on Exhibit A, as may be amended from time to time. Upon any redemption, issuance or transfer of Preferred Partnership Units, the General Partner shall prepare a schedule in the form of Exhibit A reflecting the names of the then-current Partners, their Common Percentage Interests or Preferred Percentage Interests, and the number of Common Partnership Units or Preferred Partnership Units owned by each Partner.

Preferred Partnership Unit means any Partnership Unit issued from time to time pursuant to Section 4.5 of the Partnership Agreement that is designated by the General Partner at the time of its issuance as a Preferred Partnership Unit. Each Preferred Partnership Unit shall have such preferences, conversions and other rights, voting powers, restrictions, limitations as to dividends and other distributions, qualifications and terms and conditions of redemption as shall be determined by the General Partner subject to the requirements of Section 4.5 of the Partnership Agreement.

Preferred Partnership Unit means a fractional, undivided share of the Preferred Partnership Interests issued hereunder. The allocation of Preferred Partnership Units among the Partners shall be as set forth on Exhibit A, as may be amended from time to time.

Preferred Partnership Unit. Preferred Partnership Unit" shall mean a fractional, undivided share of the Preferred Partnership Interests of all Partners issued hereunder. As of September , 2002, there shall be considered to be _____________________ Preferred Partnership Units outstanding, with each Preferred Partnership Unit representing a ___ percent (___%) Preferred Percentage Interest in the Partnership.

Preferred Partnership Unit means a Partner's right to distributions of that portion of the Preferred Investment Pool relating to such Preferred Partnership Unit together with all allocations of Preferred Profit and Preferred Loss attributable thereto.

Preferred Partnership Unit means any Partnership Unit issued from time to time pursuant to Section 4.5 of the Partnership Agreement hereof that is designated by the General Partner at the time of its issuance as a Preferred Partnership Unit. Each Preferred Partnership Unit shall have such designations,