Preferred Units definition

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.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Preferred Units means a Partnership Interest, including the Series A Preferred Units, designated as a “Preferred Unit,” 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.

Preferred Units means the Series A Preferred Units and the Series B Preferred Units.

Examples of Preferred Units in a sentence

The Series A Preferred Units will also rank junior in right or payment to the Partnership’s existing and future indebtedness.
Distributions will be payable in arrears to holders of record of the Series A Preferred Units as they appear on the records of the Partnership at the close of business on the applicable record date, which shall be the Series A Record Date (as defined in the Articles Supplementary), which is the close of business on each of January 15th, April 15th, July 15th and October 15th prior to the applicable dividend payment date (each, a “Distribution Record Date”).
The Series A Preferred Units have no stated maturity and will not be subject to any sinking fund or mandatory redemption.
The Series A Preferred Return shall accrue and be cumulative from and including the date of original issue of any Series A Preferred Units and shall be payable quarterly in arrears, on or about the last day of each of January, April, July and October of each year (or, if not a Business Day, the next succeeding Business Day, each a “Series A Preferred Unit Distribution Payment Date”), commencing on July 31, 2026.
The Series A Preferred Units are not convertible or exchangeable for any other property or securities, except as provided herein.

More Definitions of Preferred Units

Preferred Units has the meaning set forth in Section 3.04(a)(ii) hereof.

Preferred Units means a Class of Units, in one or more series, designated as “Preferred Units,” which entitles the holder thereof to a preference with respect to the payment of distributions over the Class A Units and any other Junior Units then outstanding as set forth herein.

Preferred Units has the meaning set forth in the LLC Agreement.

Preferred Units means the Units having the rights and obligations specified with respect to Preferred Units in this Agreement.

Preferred Units has the meaning set forth in the Recitals.

Preferred Units means the preferred limited partnership units in the capital of BEP.

Preferred Units means preferred units of the REIT that may be created in the future, and “Preferred Unit” means any one of them.