Examples of Series B Preference Units in a sentence
The Series B Preference Units shall not have the benefit of any sinking fund.
Series B Preference Units that are purchased or otherwise acquired by the Partnership shall be cancelled.
The Series B Preference Units shall not have any voting powers, preferences or relative, participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other than as set forth in this Article XVII or as provided by applicable law.
The Series B Preference Units represent perpetual equity interests in the Partnership and shall not give rise to a claim by the holder for redemption thereof at a particular date.
The payment of the Series B Liquidation Preference shall be a payment in redemption of the Series B Preference Units such that, from and after payment of the full Series B Liquidation Preference, any such Series B Preference Unit shall thereafter be cancelled and no longer be Outstanding.
On January 17, 2018, the Board of Directors designated and created a series of Preference Units designated as “8.200% Series B Cumulative Redeemable Perpetual Fixed to Floating Rate Preference Units,” and fixed the preferences, rights, powers and duties of the holders of the Series B Preference Units as set forth in this Article XVII.
To the fullest extent permitted by applicable law, the General Partner, Partnership, the Transfer Agent and the Paying Agent may deem and treat any Series B Holder as the true, lawful and absolute owner of the applicable Series B Preference Units for all purposes, and neither the General Partner, the Partnership nor the Transfer Agent or the Paying Agent shall be affected by any notice to the contrary.
All notices or communications in respect of the Series B Preference Units shall be sufficiently given if given in writing and delivered in person or by first class mail, postage prepaid, or if given in such other manner as may be permitted in this Article XVII, this Agreement or by applicable law.
The Partnership shall have the right at any time, and from time to time, on or after March 15, 2023 to redeem the Series B Preference Units, in whole or in part, from any source of funds legally available for such purpose.
The General Partner may cause the Partnership to purchase or otherwise acquire Series A Preference Units, so long as no Series A Preference Unit Cumulative Deficiency then exists, and Series B Preference Units, at any time.