Common use of Limitations on Redemption Clause in Contracts

Limitations on Redemption. Unless full cumulative distributions on all Series A Preferred Units shall have been, or contemporaneously are, declared and paid or declared and a sum sufficient for the payment thereof is set apart for payment for all past distribution periods, no Series A Preferred Units shall be redeemed or otherwise acquired by the Partnership unless all outstanding Series A Preferred Units are simultaneously redeemed or acquired, and the Partnership shall not purchase or otherwise acquire, directly or indirectly, any Junior Securities (except by exchange for Junior Securities); provided, however, that the foregoing shall not prevent the purchase or acquisition of Series A Preferred Units pursuant to a purchase or exchange offer made on the same terms to holders of all outstanding Series A Preferred Units.

Limitations on Redemption. Unless full cumulative distributions on all Series A B Preferred Units shall have been, or contemporaneously are, declared and paid or declared and a sum sufficient for the payment thereof is set apart for payment for all past distribution periods, no Series A B Preferred Units shall be redeemed or otherwise acquired by the Partnership unless all outstanding Series A B Preferred Units are simultaneously redeemed or acquired, and the Partnership shall not purchase or otherwise acquire, directly or indirectly, any Junior Securities (except by exchange for Junior Securities); provided, however, that the foregoing shall not prevent the purchase or acquisition of Series A B Preferred Units pursuant to a purchase or exchange offer made on the same terms to holders of all outstanding Series A B Preferred Units.