Cumulative Redeemable Preferred Unit. If a fractional Conversion Unit is otherwise deliverable to a converting holder upon a conversion of 8.00% Cumulative Redeemable Preferred Units, the Operating Partnership shall in lieu thereof pay to the person entitled thereto an amount in cash equal to the current value of such fractional interest, calculated to the nearest 1/1000th of a unit, to be computed using the current market price of a Paired Share on the date of conversion, in the case of a conversion into Common Units.
Appears in 6 contracts
Samples: Limited Partnership Agreement (Simon Property Group L P /De/), Registration Rights Agreement (Simon Property Group Inc /De/), Limited Partnership Agreement (Simon Property Group L P /De/)
