Partnership Unit Clause Samples

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Partnership Unit. The units into which the proprietary interests in the Partnership are divided, which may be whole or fractional, with each Partnership Unit representing the same amount of proprietary interest as any other. Reference to a majority in interest of the Partners means Partners whose combined Partnership Units represent more than fifty percent (50%) of the Partnership Units of all Partners then outstanding. Reference to a specified percentage in interest of the Partners means Partners whose combined Partnership Units represent such specified percentage of the Partnership Units of all Partners then outstanding. Each Partner shall be issued one Partnership Unit for each $100,000 in cash or property (based on the fair market value of such property at the time of contribution, as agreed to between the contributing Partner and the Partnership) contributed by such Partner to the Partnership pursuant to this Agreement.
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Partnership Unit. The term “Partnership Unit” shall have the meaning assigned to such term in the ARC Partnership Agreement and, in the case of any Paired Common Unit (as defined in the ARC Partnership Agreement), shall include any share or shares of Special Voting Stock paired therewith.
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Partnership Unit. 9 Section 1.49 Partnership Year . . . . . . . . . . . . . . 9 Section 1.50
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Partnership Unit. 3 Section 1.23 Person ...............................................................3 Section 1.24 Subsidiary............................................................4 Section 1.25
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Partnership Unit. The term "Partnership Unit" shall have the meaning assigned to such term in the ARC IV Partnership Agreement.
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Partnership Unit. Distributions to Limited Partners 3,825,604 -- -- -- -- -- -- As of September 30, Fiscal Year Ended December 31, --------------------------------------------------------------------------------------------------------- Balance Sheet Data: 1996 1995 1995 1994 1993 1992 1991 (unaudited) Total Assets $39,870,445 $41,957,560 $42,024,785 $41,989,599 $41,858,418 $42,445,522 $42,905,465 Additional Information. The Partnership is subject to the informational requirements of the Exchange Act and accordingly is required to file reports and other information with the Commission relating to its business, financial results and other matters. Such reports and other documents may be examined and copies may be obtained from the offices of the Commission at 450 ▇▇▇▇▇ ▇▇▇▇▇▇, ▇.▇., ▇▇▇▇▇▇▇▇▇▇, ▇.▇ ▇▇▇▇▇, ▇▇d at the regional offices of the Commission located in the Northwestern Atrium Center, 500 ▇▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇ ▇▇▇▇, ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇d 7 World Trade Center, New York, New York 10048. Copies should be available by mail upon payment of the Commission's customary charges by writing to the Commission's principal offices at 450 ▇▇▇▇▇ ▇▇▇▇▇▇, ▇.▇., ▇▇▇▇▇▇▇▇▇▇, ▇.▇. ▇▇▇▇▇. ▇▇ch reports may also be accessed on the World Wide Web through the Commission's Internet address at "http://▇▇▇.▇▇▇.▇▇▇."
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Partnership Unit. M.O.R. 44 is hereby admitted to the Partnership, effective as of the date hereof, and its name is hereby recorded on the books of the Partnership, as an Additional Limited Partner as forth on Amended Exhibit 1 hereto. By its execution of this Third Amendment, M.O.R. 44 has agreed to be bound by all the terms and conditions of the Partnership Agreement, as amended from time to time, including, without limitation, the power of attorney granted in Section 12.3 of the Partnership Agreement.
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Related to Partnership Unit

  • Partnership Units Each Partner shall own Partnership Units in the amounts set forth for such Partner in Exhibit A and shall have a Percentage Interest in the Partnership as set forth in Exhibit A, which Percentage Interest shall be adjusted in Exhibit A from time to time by the General Partner to the extent necessary to reflect accurately redemptions, additional Capital Contributions, the issuance of additional Partnership Units or similar events having an effect on the number of Partnership Units held by, and the Percentage Interest of, any Partner. Each Partnership Unit shall entitle the holder thereof to one vote on all matters on which the Partners (or any portion of the Partners) are entitled to vote under this Agreement.

  • Membership Units The Company is initially organized with One (1) class of Membership Interests, designated in Units, which Units are initially the only class of equity in the Company. The Units shall have no par value and shall be of a single class with identical rights. The Company shall have a first lien on the Units of any Member for any debt or liability owed by such Member to the Company. Additional and different classes of Membership Interests represented by different Units may be created and issued to new or existing Members on such terms and conditions as the Governors may determine. Such additional and different classes may have different rights, powers and preferences (including, without limitation, voting rights and distribution preferences), which may be superior to those of existing Members. Members shall have no preemptive rights to acquire additional or newly created Units.

  • Class B Units Class B Unitholders shall not be entitled to vote in any matters relating to the Company, unless otherwise reserved to the Members by the Act. In addition to the other rights and obligations of Class B Unitholders hereunder, Class B Units shall entitle the holder of such Class B Units to (i) Tax Distributions pursuant to Section 4.01(b), and (ii) a preferred return equal to the Class B Preferred Return Amount. The Class B Preferred Return Amount shall not be required to be paid annually but shall accrue and become payable at the earlier of (x) the fifth (5th) anniversary of the Effective Time, or (y) a liquidation of, or a taxable sale of substantially all of the assets of, the Company. Upon the occurrence of an event referenced in clause (y) above, each Class B Unitholder shall also be paid such Class B Unitholder’s Class B Preferred Return Base Amount, in addition to all of the outstanding, accrued and unpaid Class B Preferred Return Amount. On the seventh (7th) anniversary of the Effective Time, each Class B Unitholder may, at its option and in accordance with the notice and other procedural provisions set forth in Section 11.01(a) (the “7 Year Put Option”), sell all (but not less than all) of its Class B Units to the Company for an amount equal to such Class B Unitholder’s Class B Preferred Return Base Amount plus any outstanding and accrued Class B Preferred Return Amount of such Class B Unitholder (the “Class B Option Consideration”) and, upon the exercise of the 7 Year Put Option by any Class B Unitholder, the Company shall purchase all of such holder’s Class B Units for the Class B Option Consideration. Notwithstanding anything herein to the contrary, no Class B Preferred Return Amount shall be due and payable with respect to such Class B Units pursuant this Section 3.02(b) at such time or times specified in this Section 3.02(b) unless such Class B Units remain issued and outstanding at such time or times and no Redemption or Direct Exchange of such Class B Units described in Article XI hereof has occurred.

  • Common Units The capital structure of the Company shall consist of one class of common interests (the "Common Units"). The Company shall have authority to issue one thousand (1,000) Common Units. Each Common Unit shall have one vote and shall otherwise be identical with each other Common Unit in every respect.

  • Certificates Describing Partnership Units At the request of a Limited Partner, the General Partner, at its option, may issue a certificate summarizing the terms of such Limited Partner’s interest in the Partnership, including the number of Partnership Units owned and the Percentage Interest represented by such Partnership Units as of the date of such certificate. Any such certificate (i) shall be in form and substance as approved by the General Partner, (ii) shall not be negotiable and (iii) shall bear a legend to the following effect: This certificate is not negotiable. The Partnership Units represented by this certificate are governed by and transferable only in accordance with the provisions of the Limited Partnership Agreement of Strategic Storage Operating Partnership II, L.P., as amended from time to time.