Special OP Units definition

Special OP Units means units of a series of Partnership Interests, designated as Special OP Units, issued pursuant to Section 4.1. The holder of the Special OP Units shall have the same rights and preferences as a holder of a Partnership Unit under this Agreement that is a Limited Partner except as otherwise set forth in this Agreement.
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Special OP Units means the separate series of limited partnership interests to be issued in accordance with Section 8.04. Stockholders means the registered holders of the Shares.
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Special OP Units has the meaning set forth in the Limited Partnership Agreement.
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Examples of Special OP Units in a sentence

  • The Special OP Units shall be entitled to the distributions provided for, and shall be subject to redemption by the Operating Partnership, in accordance with the terms of the Operating Partnership Agreement.

  • To the extent distributions to the Special OP Units are not paid from net sales proceeds, such amounts will count against the limit on Operating Expenses.

  • Upon the earliest to occur of the termination or nonrenewal of this Agreement for Cause, a Termination Event, or a Liquidity Event, all of the Special OP Units shall be redeemed by the Operating Partnership in accordance with the terms of the Operating Partnership Agreement.

  • In addition, an Affiliate of the Advisor has made a capital contribution of $1,000 to the Operating Partnership in exchange for Special OP Units.

  • There shall be a corresponding allocation of profits of the Operating Partnership made to the holder of the Special OP Units in connection with the amounts payable hereunder.

  • Upon the earliest to occur of the termination of this Agreement for Cause, a Termination Event or a Listing, all of the Special OP Units shall be redeemed by the Operating Partnership in accordance with the terms of the Operating Partnership Agreement.

  • Redemptions of the Special OP Units will occur through the exchange of the Special OP Units for OP Units with a value at the time of exchange equal to the redemption value of the Special OP Units.

  • If the Advisory Agreement is terminated or not renewed by the Corporation for “cause” (as defined in the Advisory Agreement), the redemption value of Special OP Units will be $1.

  • Upon the earliest to occur of the termination or nonrenewal of the Advisory Agreement for “cause” (as defined in the Advisory Agreement), a Termination Event or a Liquidity Event, all of the Special OP Units shall be redeemed by the Operating Partnership.

  • An Affiliate of the Advisor has made a capital contribution of $1,000 to the Operating Partnership in exchange for Special OP Units.


More Definitions of Special OP Units

Special OP Units means the separate series of limited partnership interests to be issued in accordance with Section 8.04.
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Special OP Units means the separate series of limited partnership interests issued in accordance with Section 8.04. Sponsor means Cantor Xxxxxxxxxx Investors, LLC, a Delaware limited liability company Stockholders means the registered holders of the Shares.
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Special OP Units shall have the meaning as provided in Section 9.8 herein.
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Special OP Units means a series of Partnership Interests, designated as the Special OP Units, issued pursuant to Section
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Special OP Units means the special units of the Operating Partnership issued to the Advisor as part of the overall consideration for the services to be provided hereunder, which Special OP Units are further described in the Operating Partnership Agreement. 1.51 “Stockholders” means the registered holders of the shares of common stock of the Company. 1.52 “Termination Date” means the date of termination of the Agreement determined in accordance with Article XII. 1.53 “Termination Fee” means, with respect to any termination or non-renewal of this Agreement under Article XII, a fee equal to three times the sum of (i) the average annual Asset Management Fee earned by the Advisor during the 24-month period immediately preceding the most recently completed calendar quarter prior to the Termination Date and (ii) the average annual Administrative Fee earned by the Advisor during the two most recently completed Measurement Periods (as defined in the Operating Partnership Agreement) prior to the Termination Date. 1.54 “TRS Operating Agreement” mean that certain Limited Liability Agreement of Caliber Hospitality TRS, LLC, dated as of March 17, 2023. 1.55 “Valuation Guidelines” means the valuation guidelines adopted by the Board, as amended from time to time. ARTICLE II
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Related to Special OP Units

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

  • Series A Units means Series A currency hedged mutual fund units or Series A non-currency hedged mutual fund units of a fund, as applicable.

  • Class B Units has the meaning set forth in Section 3.04(a)(ii).

  • Class A LP Units means the Class A limited partnership units of the Partnership.

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.

  • General Partner Units has the meaning assigned to such term in the Partnership Agreement.

  • Class B Interests As set forth in the Trust Agreement.

  • OP Units means units of limited partnership interest in the Operating Partnership.

  • 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.

  • Class B Common Units has the meaning set forth in Section 1(a) hereof.

  • Class C Shares means the shares of Class C common stock of the Company.

  • Membership Units has the meaning set forth in the Recitals.

  • Class A Common Units means the Company's Class A Common Units.

  • Series A Preferred Units has the meaning assigned to such term in Section 5.11(a).

  • Class C Units shall have the meaning set forth in the preface.

  • Series B Preferred Units shall have the meaning provided in Section 1.

  • Series C Preferred Units means the series of Partnership Units representing units of Limited Partnership Interest designated as the 8 5/8% Series C Cumulative Redeemable Preferred Units, with the designations, preferences and other rights set forth in Attachment C hereto.

  • Initial Common Units means the Common Units sold in the Initial Offering.

  • LP Units means the non-voting limited partnership units in the capital of BEP, other than the Preferred Units, including any LP Units issued pursuant to the Redemption-Exchange Mechanism.

  • Common Units is defined in the Partnership Agreement.

  • Additional Units means such Units (as defined herein) as are issued in respect of Additional Securities."

  • Special Limited Partner Interest means the interest of the Special Limited Partner in the Partnership representing its right as the holder of an interest in distributions described in Sections 5.1(b)(iii)(A), (c), (d) and (e) (and any corresponding allocations of income, gain, loss and deduction under this Agreement).

  • Partnership Interests shall have the meaning specified in Section 6.3 [Subsidiaries].

  • Company Units has the meaning set forth in the Recitals.

  • Class B Investor Interest means, on any date of determination, an amount equal to (a) the Class B Initial Investor Interest, minus (b) the aggregate amount of principal payments made to Class B Certificateholders prior to such date, minus (c) the aggregate amount of Class B Investor Charge-Offs for all prior Transfer Dates pursuant to subsection 4.10(b), minus (d) the amount of the Reallocated Class B Principal Collections allocated pursuant to subsection 4.12(a) on all prior Transfer Dates for which the Collateral Interest Amount has not been reduced, minus (e) an amount equal to the amount by which the Class B Investor Interest has been reduced on all prior Transfer Dates pursuant to subsection 4.10(a) and plus (f) the aggregate amount of Excess Spread allocated and available on all prior Transfer Dates pursuant to subsection 4.11(d) for the purpose of reimbursing amounts deducted pursuant to the foregoing clauses (c), (d) and (e); provided, however, that the Class B Investor Interest may not be reduced below zero.