Senior Preference Units definition

Senior Preference Units means, collectively, (a) the "Senior Preference Units" issued and outstanding under, and as defined in, the Agreement of Limited Partnership dated as of December 4, 1991 of TNCLP, as such Agreement of Limited Partnership is in effect on the Restatement Date, and (b) the "Common Units" into which such Senior Preference Units have been converted in accordance with Section 5.5 of such Agreement of Limited Partnership.

Examples of Senior Preference Units in a sentence

• A discussion ensued regarding the potential benefit of adding MATH V44 Elementary Statistics to List B options, such as an increase in student completion and prevention of students from taking the wrong math course.

• The General Partner contributed $10 in cash and received in exchange therefor a 1.0% Partnership Interest as General Partner and Kaneb contributed $990 in cash and received in exchange therefor 46 Senior Preference Units representing a 99% Partnership Interest as Limited Partner in the Partnership.

• The Registrar is hereby appointed Registrar for the purpose of registering Senior Preference Units and Preference Units and transfers of such Senior Preference Units and Preference Units as herein provided.

• Pursuant to the terms of the Partnership Agreement, Unit Certificates that purport to represent Senior Preference Units, Preference Units or Common Units will be deemed to represent Units, without distinction.

• This statement relates to Senior Preference Units of limited partnership interests (the "Senior Units") of Terra Nitrogen Company, L.P., a Delaware limited partnership ("TNCLP"), which has its principal executive offices at 5100 East Skelly Drive, Suite 800, Tulsa, Oklahoma 74135.

• During the period which commenced December 4, 1991, and ended on December 31, 1996 (the Preference Period), Senior Preference Units (SPUs) and Common Units participated equally in distributions after each class of units received its Minimum Quarterly Distribution, subject to the General Partner's right to receive cash distributions.

• Presumably, the sum consisted of the $6,000 monthly management fee payments that Mr. Talchick failed to make and the interest-only payments that Mr. Meathe paid the bank when Mr. Talchick was unable to do so.

• Minor change in surface water or groundwater quality conditions from the baseline situation.

• If any tax or other governmental charge becomes payable with respect to this Depositary Receipt or the Senior Preference Units evidenced hereby, such tax or governmental charge shall be payable by the holder of this Depositary Receipt or by the transferee hereof in the case of a transfer.

• The provisions of Rule 2.3.1 of this regulation shall be waived for applications received under this section.