Common use of Payment of Accumulated Distributions Clause in Contracts

Payment of Accumulated Distributions. Immediately prior to any redemption of Series M Preferred Units, the Partnership shall pay, in cash, any accumulated and unpaid distributions on the Series M Preferred Units to be redeemed through the redemption date. Except as provided above, the Partnership will make no payment or allowance for unpaid distributions, whether or not in arrears, on Series M Preferred Units for which a notice of redemption has been given.