Senior Preferred Units definition

Senior Preferred Units shall have the meaning provided in Section 4.

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

Senior Preferred Units shall be used to refer to any class or series of Partnership Interests of the Partnership now or hereafter authorized, issued or outstanding that are expressly designated by the Partnership to rank senior to Series C Preferred Units with respect to distributions or rights upon voluntary or involuntary liquidation, winding-up or dissolution of the Partnership, or both, as the context may require, whether or not the distribution rates, distribution payment dates or redemption or liquidation prices per unit or conversion rights or exchange rights shall be different from those of the Series C Preferred Units.

Examples of Senior Preferred Units in a sentence

• For the avoidance of doubt, the Junior Preferred Units and the Senior Preferred Units do not need to be transferred together and may be transferred in separate transactions.

• Each Senior Preferred Member owns that number of Senior Preferred Units as appears next to its name on Schedule I hereto.

• Effective upon the Senior Preferred Redemption, the Senior Preferred Units shall have no rights as a Member, economic or otherwise, under this Agreement including, without limitation, any right to distributions under Sections 5.02, 5.03 and 9.03(c) or otherwise.

• On July 4, 2017, the Debtors created a class of units designated as Senior Preferred Units.

• As of the Petition Date, 40,000 Senior Preferred Units (which were originally issued on August 21, 2017 at a purchase price of $100 per such Senior Preferred Unit) were issued andoutstanding.

More Definitions of Senior Preferred Units

Senior Preferred Units means all classes or series of Preferred Units issued by the Partnership, the terms of which specifically provide that such Preferred Units rank senior to the Series A Preferred Units, Series B Preferred Units and Series C Preferred Units with respect to distribution rights or rights upon liquidation, dissolution or winding up of the Partnership.

Senior Preferred Units shall have the meaning provided in Section 4 of this Amendment.

Senior Preferred Units shall be used to refer to any class or series of Partnership Interests now or hereafter authorized, issued or outstanding expressly designated by the Partnership to rank senior to the Series A Preferred Units with respect to distributions and rights upon voluntary or involuntary liquidation, winding-up or dissolution of the Partnership. The term “Junior Units” shall be used to refer to the Common Units and any other class or series of Partnership Interests now or hereafter authorized, issued or outstanding expressly designated by the Partnership to rank junior to the Series A Preferred Units with respect to distributions and rights upon voluntary or involuntary liquidation, winding-up or dissolution of the Partnership. The term “Closing Value Per Unit” means (i) with respect to each Series A Preferred Unit issued to a Contributor LP on the Effective Date, $26.75 and (ii) with respect to each Common Unit issued to a Contributor LP on the Effective Date, $23.50. The term “Series A Preferred LP Return” shall mean, an amount that accrues and accumulates on each Series A Preferred Unit commencing on the Effective Date at a per annum rate equal to 5.99% of the Closing Value per Unit for a Series A Preferred Unit.

Senior Preferred Units means Senior Preferred Units of Horizon Lines, as defined in the LLC Agreement.

Senior Preferred Units means the Class A-1 Units (as defined in the A&R LLC Agreement).

Senior Preferred Units has the meaning set forth in the Recitals.

Senior Preferred Units. Preferred Units which rank prior and senior to the Junior Preferred Units and the Partnership Units with respect to the payment of Priority Return Amounts and Liquidation Preferences. Senior Preferred Units shall be identified on the Addendum to EXHIBIT 1 (or otherwise set forth in an amendment to this Agreement). Each class or series of Preferred Units which are denominated as Senior Preferred Units shall be entitled to allocations and distributions with respect to Priority Return Amounts and Liquidation Preferences on a PARI PASSU basis with each other class or series of Senior Preferred Units. If after their due date the full amount of all accrued Priority Return Amounts have not been distributed with respect to all Senior Preferred Units pursuant to Article V, no distribution shall be made to the holders of Junior Preferred Units or Partnership Units pursuant to that Article. Until the holders of Senior Preferred Units have been paid Liquidation Preferences and all Priority Return Amounts in connection with the liquidation of the Partnership pursuant to Section 10.2, no distribution shall be made to the holders of Junior Preferred Units or Partnership Units in connection with such liquidation pursuant to that Section. SERIES A PREFERRED REIT SHARES: Series A Convertible Preferred Shares of Beneficial Interest in the General Partner, issued pursuant to Articles Supplementary of COPT, dated September 29, 1998.