Unit Majority definition

Unit Majority means (i) during the Subordination Period, at least a majority of the Outstanding Common Units (excluding Common Units owned by the General Partner and its Affiliates), voting as a class, and at least a majority of the Outstanding Subordinated Units, voting as a class, and (ii) after the end of the Subordination Period, at least a majority of the Outstanding Common Units.

Unit Majority means at least a majority of the Outstanding Common Units.

Unit Majority means at least a majority of the Outstanding Common Units, voting as a single class.

Examples of Unit Majority in a sentence

• An amendment to this Agreement shall be effective upon its approval by the General Partner and, except as otherwise provided by Section 13.1 or Section 13.3, the holders of a Unit Majority, unless a greater or different percentage of Outstanding Units is required under this Agreement.

• A proposed amendment shall be effective upon its approval by the holders of a Unit Majority, unless a greater or different percentage is required under this Agreement or by Delaware law.

• A proposed amendment shall be effective upon its approval by the General Partner and the holders of a Unit Majority, unless a greater or different percentage is required under this Agreement or by Delaware law.

• The Liquidator (if other than the General Partner) shall agree not to resign at any time without 15 days’ prior notice and may be removed at any time, with or without cause, by notice of removal approved by holders of a Unit Majority.

• Any such action by such holders for removal of the General Partner must also provide for the election of a successor General Partner by the holders of a Unit Majority.

More Definitions of Unit Majority

Unit Majority means a majority of the Outstanding Common Units.

Unit Majority means at least a majority of the Outstanding Common Units, Outstanding Class B Units, if any, and Outstanding Series A Preferred Units, if any, with such Series A Preferred Units to be treated as Common Units on an as-converted basis, voting together as a single class.

Unit Majority means, during the Subordination Period, at least a majority of the Outstanding Common Units (excluding Common Units owned by the General Partner and its Affiliates) voting as a class and at least a majority of the Outstanding Subordinated Units voting as a class, and after the end of the Subordination Period, at least a majority of the Outstanding Common Units.

Unit Majority has the meaning assigned to such term in the MLP Agreement.

Unit Majority has the meaning set forth in the Partnership Agreement.

Unit Majority means a majority of the Voting Eligible Series A Preferred Units (as described in Section 5.14(b)(iii)(A)) and Voting Eligible Common Units, voting as a single class.

Unit Majority means at least a majority of the Outstanding Units, including the Series B Preferred Units as described in Section 5.10(b)(v)(A) but excluding the Series C Preferred Units.