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.

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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 Company shall have the option (but not the obligation) to redeem all, but not less than all, of the Preferred Units held by all of the Preferred Members (the “Optional Redemption”) by providing an irrevocable written notice to each Preferred Member at any time following the Effective Date (an “Optional Redemption Notice”).

• Any Series A Accruing Distribution shall be paid in cash, shall accrue on a daily basis (whether or not declared), shall be cumulative and shall compound quarterly; provided, that, with respect to any amounts accruing during a quarter, the same shall only commence compounding as of the end of such quarter, unless all accrued but unpaid distributions on the Series A Preferred Units are declared and paid.

• The rights, privileges and preferences of the Preferred Units are as stated in the Restated Company Agreement.

• The Company shall not take, and shall not permit its Subsidiaries to take, any action (or omit to take any action) that would cause the Investor Member to be in violation of any applicable Laws or regulations by reason of the Investor Member’s ownership of the Preferred Units or any other Securities of the Company.

• The Company shall, at all times, ensure that its Permitted Asset Base is at least equal to the aggregate value of all Preferred Units issued by the Company (including the Series A Preferred Units and Series B Preferred Units).

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 Trust that may be created in the future, and “Preferred Unit” means any one of them.