Series C Preferred Unit definition

Series C Preferred Unit means a Preferred Unit having the designations, preferences, rights, powers and duties set forth in Article XVIII.

Series C Preferred Unit has the meaning assigned to such term in Section 5.11(a).

Series C Preferred Unit shall have the meaning assigned to such term in the AMID Partnership Agreement.

Examples of Series C Preferred Unit in a sentence

• Each Series C Preferred Unit shall be identical in all respects to every other Series C Preferred Unit, except as to the respective dates from which the Series C Liquidation Preference shall increase or from which Series C Distributions may begin accruing, to the extent such dates may differ.

• Income of the Partnership attributable to the issuance by the Partnership of a Series C Preferred Unit for an amount in excess of the Series C Liquidation Preference shall be allocated to the Unitholders (other than Series C Holders) in accordance with their respective Percentage Interests.

• Each Series C Preferred Unit shall be identical in all respects to every other Series C Preferred Unit, except as to the respective dates from which the Series C Preferred Liquidation Preference shall increase or from which Series C Preferred Distributions may begin accruing, to the extent such dates may differ.

• Series C Holders shall be entitled to receive Series C Distributions from time to time out of any assets of the Partnership legally available for the payment of distributions at the Series C Distribution Rate per Series C Preferred Unit when, as, and, if declared by the General Partner.

• In the event that a Series C Preferred Unit is issued for an amount in excess of the Series C Preferred Liquidation Preference for such Unit, the excess shall be considered income of the Partnership and shall be allocated to the Partners (other than Series A Preferred Unitholders, Series B Preferred Unitholders, and Series C Preferred Unitholders) in accordance with their respective Percentage Interests.

More Definitions of Series C Preferred Unit

Series C Preferred Unit means a Partnership Unit issued or authorized to be issued by the Partnership pursuant to Addendum No. 4 to this Agreement, which designates the "Series C Preferred Units."

Series C Preferred Unit means a Partnership Unit designated by the Company Operating Partnership as a Series C Preferred Unit under the Company Partnership Agreement.

Series C Preferred Unit means a Partnership Unit issued by the Partnership to the General Partner in consideration of the contribution by the General Partner to the Partnership of the entire net proceeds received by the General Partner from the issuance of the Series C Preferred Stock. The Series C Preferred Units are Partnership Preferred Units. The Series C Preferred Units shall have the preferences, conversion and other rights, voting powers, restrictions, limitations as to distributions, qualifications and terms and conditions of redemption as are set forth in Exhibit I. It is the intention of the General Partner, in establishing the Series C Preferred Units that each Series C Preferred Unit shall be substantially the economic equivalent of a share of Series C Preferred Stock.

Series C Preferred Unit shall be designated as either a Series C-1 Preferred Unit or a Series C-2 Preferred Unit of the Company and shall have the rights, preferences, privileges, restrictions and duties assigned herein to Series C Preferred Units and, as applicable, to Series C-1 Preferred Units or Series C-2 Preferred Units.

Series C Preferred Unit has the meaning set forth in the Partnership Agreement.

Series C Preferred Unit means a Partnership Unit issued by the Partnership to the General Partner in consideration of the contribution by the General Partner to the Partnership of the entire net proceeds received by the General Partner from the issuance of the Series C Preferred Stock. The Series C Preferred Units are Partnership Preferred Units. The Series C Preferred Units shall have the preferences, conversion and other rights, voting powers, restrictions, limitations as to distributions, qualifications and terms and conditions of redemption as are set forth in this Exhibit I. It is the intention of the General Partner, in establishing the Series C Preferred Units that each Series C Preferred Unit shall be substantially the economic equivalent of a share of Series C Preferred Stock. “set apart for payment” shall be deemed to include, without any action other than the following, the recording by the Partnership or the General Partner on behalf of the Partnership in its accounting ledgers of any accounting or bookkeeping entry which indicates, pursuant to a declaration of a distribution by the General Partner, the allocation of funds to be so paid on any series or class of Partnership Units; provided, however, that if any funds for any class or series of Junior Units or any class or series of Partnership Units ranking on a parity with the Series C Preferred Units as to the payment of distributions are placed in a separate account of the Partnership or delivered to a disbursing, paying or other similar agent, then “set apart for payment” with respect to the Series C Preferred Units shall mean placing such funds in a separate account or delivering such funds to a disbursing, paying or other similar agent.

Series C Preferred Unit means a limited partnership interest represented by a fractional, undivided share of the Partnership Interests of all Partners issued hereunder which is designated as an 8.75% Series C Cumulative Redeemable Perpetual Preferred Unit and which has the rights, preferences and other privileges designated herein in respect of Series C Preferred Unitholders and designated in the Certificate of Designations for Series C Preferred Units attached hereto. The allocation of Series C Preferred Units among the Partners shall be set forth on Exhibit A, as may be amended from time to time.