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, as soon as practicable after the Conversion Time, issue and deliver to such holder of Preferred Units, or to his, her or its nominees, a certificate or certificates for the number of Common Units issuable upon such conversion in accordance with the provisions hereof and a certificate (if any) for the number (if any) of Preferred Units represented by the surrendered certificate that were not converted into Common Units.
Subject to Section 5.11, the Company is authorized to issue as many Preferred Units as the Board approves from time to time, and any Preferred Units issued in accordance with this Agreement shall be deemed to have been duly authorized and validly issued.
The Members have made, on or prior to the Effective Date, Capital Contributions and, in exchange, the Company has issued to the applicable Members the number of Preferred Units and Common Units set forth adjacent to the applicable Member’s name on Schedule 1 hereto (the “Capital Contributions”).
The holders of a majority of the Preferred Units, upon written notice to the Company, may elect to require all (but not less than all) outstanding Preferred Units to be converted into Common Units.
The General Partner will not, as the sole holder of Series A Preferred Units, have any preemptive rights to subscribe for or purchase any Partnership Interests.

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.