Establishment of Series a Preferred Units. (a) ESTABLISHMENT OF SERIES A PREFERRED UNITS. A series of preferred units of the Company designated as the "8.95% Series A Cumulative Redeemable Preferred Units" (the "Series A Preferred Units") was previously established and has such preferences and other rights as are described herein. The maximum number of Series A Preferred Units which may be issued by the Company from time to time shall be 700,000. The Company heretofore issued 700,000 Series A Preferred Units, the current holder of which is the GS 2000 REIT, in exchange for a Capital Contribution of $175,000,000. Series A Preferred Units shall not have any relative, participating, optional or other special rights and powers other than as set forth herein. Series A Preferred Units that are redeemed or purchased by the Company shall be cancelled and may not be reissued.
Establishment of Series a Preferred Units. Article IV of the Second Restated Partnership Agreement is hereby amended by the insertion of the following new Sections 4.7, 4.8, 4.9 and 4.10:
Establishment of Series a Preferred Units. A series of preferred units of the Partnership designated as Series A Preferred Units is hereby established and shall have such preferences and other rights as are described herein. The maximum number of Series A Preferred Units which may be issued by the Partnership from time to time shall be 345,000, and the number of Series A Preferred Units set forth on Schedule A hereto opposite the name of the General Partner are hereby issued to the General Partner in exchange for the capital contribution being made by the General Partner concurrently herewith. Any Series A Preferred Units which may be issued and are thereafter cancelled or converted into Common Units in accordance with the terms hereof shall be retired, and the Partnership shall not reissue any such Series A Preferred Units.
Establishment of Series a Preferred Units. Annex A-9
Establishment of Series a Preferred Units
