Payment of Liquidating Distributions. Subject to the rights of holders of Parity Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership and subject to Partnership Interests ranking senior to the Series A Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership, the holders of Series A Preferred Units shall be entitled to receive out of the assets of the Partnership legally available for distribution or the proceeds thereof, after payment or provision for debts and other liabilities of the Partnership, but before any payment or distributions of the assets shall be made to holders of any class or series of Partnership Interest that ranks junior to the Series A Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, an amount equal to the sum of (i) a liquidation preference equal to their positive Capital Account balances, determined after taking into account all Capital Account adjustments for the Partnership taxable year during which the liquidation occurs (other than those made as a result of the liquidating distribution set forth in this Section 4.5(d)(i) and (ii) an amount equal to any accumulated and unpaid distributions thereon, whether or not declared, to the date of payment. In the event that, upon such voluntary or involuntary liquidation, dissolution or winding-up, there are insufficient assets to permit full payment of liquidating distributions to the holders of Series A Preferred Stock and any Parity Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, all payments of liquidating distributions on the Series A Preferred Units and such Parity Preferred Units shall be made so that the payments on the Series A Preferred Units and such Parity Preferred Units shall in all cases bear to each other the same ratio that the respective rights of the Series A Preferred Unit and such other Parity Preferred Units (which shall not include any accumulation in respect of unpaid distributions for prior distribution periods if such Parity Preferred Units do not have cumulative distribution rights) upon liquidation, dissolution or winding-up of the Partnership bear to each other.
Appears in 5 contracts
Samples: Limited Partnership Agreement (Regency Realty Corp), Limited Partnership Agreement (Regency Centers Lp), Limited Partnership Agreement (Regency Centers Lp)
Payment of Liquidating Distributions. Subject to the rights of holders of Parity Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership and subject to Partnership Interests ranking senior to the Series A D Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership, the holders of Series A D Preferred Units shall be entitled to receive out of the assets of the Partnership legally available for distribution or the proceeds thereof, after payment or provision for debts and other liabilities of the Partnership, but before any payment or distributions of the assets shall be made to holders of any class or series of Partnership Interest that ranks junior to the Series A D Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, an amount equal to the sum of (i) a liquidation preference equal to their positive Capital Account balances (including, without limitation, any accumulated and unpaid distributions, whether or not declared, to the date of payment to the extent not previously credited to such Capital Account balances), determined after taking into account all Capital Account adjustments for the Partnership taxable year during which the liquidation occurs (other than those made as a result of the liquidating distribution set forth in this Section 4.5(d)(i) and (ii) an amount equal to any accumulated and unpaid distributions thereon, whether or not declared, to the date of payment4.8(d)(i)). In the event that, upon such voluntary or involuntary liquidation, dissolution or winding-up, there are insufficient assets to permit full payment of liquidating distributions to the holders of Series A D Preferred Stock and any Parity Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, all payments of liquidating distributions on the Series A D Preferred Units and such Parity Preferred Units shall be made so that the payments on the Series A D Preferred Units and such Parity Preferred Units shall in all cases bear to each other the same ratio that the respective rights of the Series A D Preferred Unit and such other Parity Preferred Units (which shall not include any accumulation in respect of unpaid distributions for prior distribution periods if such Parity Preferred Units do not have cumulative distribution rights) upon liquidation, dissolution or winding-up of the Partnership bear to each other.
Appears in 4 contracts
Samples: Limited Partnership Agreement (Regency Centers Corp), Limited Partnership Agreement (Regency Centers Lp), Limited Partnership Agreement (Regency Centers Lp)
Payment of Liquidating Distributions. Subject to the rights of holders of Parity Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership and subject to Partnership Interests ranking senior to the Series A F Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership, the holders of Series A F Preferred Units shall be entitled to receive out of the assets of the Partnership legally available for distribution or the proceeds thereof, thereof after payment or provision for debts and other liabilities of the Partnership, but before any payment or distributions of the assets shall be made to holders of any class or series of Partnership Interest that ranks junior to the Series A F Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, an amount equal to the sum of (i) a liquidation preference equal to their positive Capital Account balances (including, without limitation, any accumulated and unpaid distributions, whether or not declared, to the date of payment to the extent not previously credited to such Capital Account balances), determined after taking into account all Capital Account adjustments for the Partnership taxable year during which the liquidation occurs (other than those made as a result of the liquidating distribution set forth in this Section 4.5(d)(i) and (ii) an amount equal to any accumulated and unpaid distributions thereon, whether or not declared, to the date of payment4.10(d)(i)). In the event that, upon such voluntary or involuntary liquidation, dissolution or winding-up, there are insufficient assets to permit full payment of liquidating distributions to the holders of Series A F Preferred Stock Units and any Parity Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, all payments of liquidating distributions on the Series A F Preferred Units and such Parity Preferred Units shall be made so that the payments on the Series A F Preferred Units and such Parity Preferred Units shall in all cases bear to each other the same ratio that the respective rights of the Series A F Preferred Unit Units and such other Parity Preferred Units (which shall not include any accumulation in respect of unpaid distributions for prior distribution periods if such Parity Preferred Units do not have cumulative distribution rights) upon liquidation, dissolution or winding-up of the Partnership bear to each other.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Regency Centers Corp), Limited Partnership Agreement (Regency Centers Lp), Limited Partnership Agreement (Regency Centers Lp)
Payment of Liquidating Distributions. Subject to the rights of holders of Parity Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership and subject to Partnership Interests equity securities ranking senior to the Series A 6 Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership, the holders of Series A 6 Preferred Units shall be entitled to receive out of the assets of the Partnership legally available for distribution or the proceeds thereof, after payment or provision for debts and other liabilities of the Partnership, but before any payment or distributions of the assets shall be made to holders of Common Units or any other class or series of Units of the Partnership Interest that ranks junior to the Series A 6 Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, an amount a liquidation distribution in cash or property at fair market value as determined by the Board of Directors equal to the sum of (i) a liquidation preference equal to their positive Capital Account balancesof $25.00 per Series 6 Preferred Unit, determined after taking into account all Capital Account adjustments for the Partnership taxable year during which the liquidation occurs (other than those made as a result of the liquidating distribution set forth in this Section 4.5(d)(i) and (ii) an amount equal to any accumulated accrued and unpaid distributions dividends thereon, whether or not declared, to to, but not including, the date of payment. In the event that, upon such voluntary or involuntary liquidation, dissolution or winding-up, there are insufficient assets to permit full payment of liquidating distributions to the holders of Series A 6 Preferred Stock Units and any Parity Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, all payments of liquidating distributions on the Series A 6 Preferred Units and such Parity Preferred Units shall be made so that the payments on the Series A 6 Preferred Units and such Parity Preferred Units shall in all cases bear to each other the same ratio that the respective rights of the Series A 6 Preferred Unit Units and such other Parity Preferred Units (which shall not include any accumulation in respect of unpaid dividends or distributions for prior dividend or distribution periods if such Parity Preferred Units do does not have cumulative dividend or distribution rights) upon liquidation, dissolution or winding-up of the Partnership bear to each other.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Regency Centers Lp), Fourth Amended and Restated Agreement of Limited Partnership (Regency Centers Lp)
Payment of Liquidating Distributions. Subject to the rights of holders of Parity Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership and subject to Partnership Interests ranking senior to the Series A Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership, the holders of Series A B Preferred Units shall be entitled to receive out of the assets of the Partnership legally available for distribution or the proceeds thereof, after payment or provision for debts and other liabilities of the Partnership, but before any payment or distributions of the assets shall be made to holders of any class or series of Partnership Interest that ranks junior to the Series A B Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, an amount equal to the sum of (i) a liquidation preference equal to their positive Capital Account balances, determined after taking into account all Capital Account adjustments for the Partnership taxable year during which the liquidation occurs (other than those made as a result of the liquidating distribution set forth in this Section 4.5(d)(i) 6(a)), and (ii) an amount equal to any accumulated and unpaid distributions thereon, whether or not declared, to the date of payment. In the event that, upon such voluntary or involuntary liquidation, dissolution or winding-up, there are insufficient assets to permit full payment of liquidating distributions to the holders of Series A B Preferred Stock and any Parity Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, all payments of liquidating distributions on the Series A Preferred Units and such Parity Preferred Units shall be made so that the payments on the Series A B Preferred Units and such Parity Preferred Units shall in all cases bear to each other the same ratio that the respective rights of the Series A B Preferred Unit and such other Parity Preferred Units (which shall not include any accumulation in respect of unpaid distributions for prior distribution periods if such Parity Preferred Units do not have cumulative distribution rights) upon liquidation, dissolution or winding-up of the Partnership bear to each other.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Regency Centers Corp), Limited Partnership Agreement (Regency Centers Lp)
Payment of Liquidating Distributions. Subject to the rights of holders of Parity Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership and subject to Partnership Interests ranking senior to the Series A E Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-winding up of the Partnership, the holders of Series A E Preferred Units shall be entitled to receive out of the assets of the Partnership legally available for distribution or the proceeds thereof, after payment or provision for debts and other liabilities of the Partnership, but before any payment or distributions of the assets shall be made to holders of any class or series of Partnership Interest that ranks junior to the Series A E Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, an amount equal to the sum of (i) a liquidation preference equal to their positive Capital Account balances, determined after taking into account all Capital Account adjustments for the Partnership taxable year during which the liquidation occurs occurs, including the allocation of Net Income or Net Loss (and any specially allocated items) computed after adjusting the Gross Asset Values of the Partnership's assets immediately prior to any such liquidation if failure to make such adjustment to the Gross Asset Values would have an adverse economic impact the Series E Preferred Units (other than those made as a result of the liquidating distribution set forth in this Section 4.5(d)(i) and (ii) an amount equal to any accumulated and unpaid distributions thereon, whether or not declared, to the date of payment6(a)). In the event that, upon such voluntary or involuntary liquidation, dissolution or winding-up, there are insufficient assets to permit full payment of liquidating distributions to the holders of Series A E Preferred Stock Units and any Parity Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, all payments of liquidating distributions on the Series A Preferred Units and such Parity Preferred Units shall be made so that the payments on the Series A E Preferred Units and such Parity Preferred Units shall in all cases bear to each other the same ratio that the respective rights of the Series A E Preferred Unit and such other Parity Preferred Units (which shall not include any accumulation in respect of unpaid distributions for prior distribution periods if such Parity Preferred Units do not have cumulative distribution rights) upon liquidation, dissolution or winding-up of the Partnership bear to each other.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Regency Centers Corp), Limited Partnership Agreement (Regency Centers Lp)
Payment of Liquidating Distributions. Subject to the rights of holders of Parity Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership and subject to Partnership Interests equity securities ranking senior to the Series A 3 Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership, the holders of Series A 3 Preferred Units shall be entitled to receive out of the assets of the Partnership legally available for distribution or the proceeds thereof, after payment or provision for debts and other liabilities of the Partnership, but before any payment or distributions of the assets shall be made to holders of Common Units or any other class or series of units of Partnership Interest Interests that ranks rank junior to the Series A 3 Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, an amount equal to the sum of (i) a liquidation preference equal to their positive Capital Account balancesof $250 per Series 3 Preferred Unit, determined after taking into account all Capital Account adjustments for the Partnership taxable year during which the liquidation occurs (other than those made as a result of the liquidating distribution set forth in this Section 4.5(d)(i) and (ii) an amount equal to any accumulated and unpaid distributions thereon, whether or not declared, to the date of payment. In the event that, upon such voluntary or involuntary liquidation, dissolution or winding-up, there are insufficient assets to permit full payment of liquidating distributions to the holders of Series A 3 Preferred Stock Units and any Parity Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, all payments of liquidating distributions on the Series A 3 Preferred Units and such Parity Preferred Units shall be made so that the payments on the Series A 3 Preferred Units and such Parity Preferred Units shall in all cases bear to each other the same ratio that the respective rights of the Series A 3 Preferred Unit Units and such other Parity Preferred Units (which shall not include any accumulation in respect of unpaid distributions for prior distribution periods if such Parity Preferred Units do not have cumulative distribution rights) upon liquidation, dissolution or winding-up of the Partnership bear to each other.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Regency Centers Lp), Limited Partnership Agreement (Regency Centers Corp)
Payment of Liquidating Distributions. Subject to the rights of holders of Parity Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership and subject to Partnership Interests ranking senior to the Series A C Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-winding up of the Partnership, the holders of Series A C Preferred Units shall be entitled to receive out of the assets of the Partnership legally available for distribution or the proceeds thereof, after payment or provision for debts and other liabilities of the Partnership, but before any payment or distributions of the assets shall be made to holders of any class or series of Partnership Interest that ranks junior to the Series A C Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, an amount equal to the sum of (i) a liquidation preference equal to their positive Capital Account balances, determined after taking into account all Capital Account adjustments for the Partnership taxable year during which the liquidation occurs occurs, including the allocation of Net Income or Net Loss (and any specially allocated items) computed after adjusting the Gross Asset Values of the Partnership's assets immediately prior to any such liquidation if failure to make such adjustment to the Gross Asset Values would have an adverse economic impact the Series C Preferred Units (other than those made as a result of the liquidating distribution set forth in this Section 4.5(d)(i) and (ii) an amount equal to any accumulated and unpaid distributions thereon, whether or not declared, to the date of payment6(a)). In the event that, upon such voluntary or involuntary liquidation, dissolution or winding-up, there are insufficient assets to permit full payment of liquidating distributions to the holders of Series A C Preferred Stock Units and any Parity Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, all payments of liquidating distributions on the Series A Preferred Units and such Parity Preferred Units shall be made so that the payments on the Series A C Preferred Units and such Parity Preferred Units shall in all cases bear to each other the same ratio that the respective rights of the Series A C Preferred Unit and such other Parity Preferred Units (which shall not include any accumulation in respect of unpaid distributions for prior distribution periods if such Parity Preferred Units do not have cumulative distribution rights) upon liquidation, dissolution or winding-up of the Partnership bear to each other.
Appears in 2 contracts
Samples: Limited Partnership Agreement (Regency Centers Lp), Limited Partnership Agreement (Regency Centers Corp)
Payment of Liquidating Distributions. Subject to the rights of holders of Parity Preferred Units Shares with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership Company and subject to Partnership Interests equity securities ranking senior to the Series A B Preferred Units Shares with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the PartnershipCompany, the holders of Series A B Preferred Units Shares shall be entitled to receive out of the assets of the Partnership Company legally available for distribution or the proceeds thereof, after payment or provision for debts and other liabilities of the PartnershipCompany, but before any payment or distributions of the assets shall be made to holders of Common Shares or any other class or series of Partnership Interest shares of the Company that ranks junior to the Series A B Preferred Units Shares as to rights upon liquidation, dissolution or winding-up of the PartnershipCompany, an amount equal to the sum of (i) a liquidation preference equal to their positive Capital Account balancesof $25 per share of Series B Preferred Shares, determined after taking into account all Capital Account adjustments for the Partnership taxable year during which the liquidation occurs (other than those made as a result of the liquidating distribution set forth in this Section 4.5(d)(i) and (ii) an amount equal to any accumulated and unpaid distributions thereon, whether or not declared, to the date of payment. In the event that, upon such voluntary or involuntary liquidation, dissolution or winding-up, there are insufficient assets to permit full payment of liquidating distributions to the holders of Series A B Preferred Stock Shares and any Parity Preferred Units Shares as to rights upon liquidation, dissolution or winding-up of the PartnershipCompany, all payments of liquidating distributions on the Series A B Preferred Units Shares and such Parity Preferred Units Shares shall be made so that the payments on the Series A B Preferred Units Shares and such Parity Preferred Units Shares shall in all cases bear to each other the same ratio that the respective rights of the Series A B Preferred Unit Shares and such other Parity Preferred Units Shares (which shall not include any accumulation in respect of unpaid distributions for prior distribution periods if such Parity Preferred Units Shares do not have cumulative distribution rights) upon liquidation, dissolution or winding-up of the Partnership Company bear to each other.
Appears in 1 contract
Payment of Liquidating Distributions. Subject to the rights of holders of Parity Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-winding up of the Partnership and subject to Partnership Interests holders of preferred units ranking senior to the Series A Preferred G Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-winding up of the Partnership, the holders of Series A Preferred G Units shall be entitled to receive out of the assets of the Partnership legally available for distribution or the proceeds thereof, after payment or provision for debts and other liabilities of the Partnership, but before any payment or distributions of the assets shall be made to holders of Common Units or any other class or series of stock of the Partnership Interest that ranks junior to the Series A Preferred G Units as to rights upon liquidation, dissolution or winding-winding up of the Partnership, an amount equal to the sum of (i) a liquidation preference equal to their positive Capital Account balancesof $25.00 per share of Series G Units, determined after taking into account all Capital Account adjustments for the Partnership taxable year during which the liquidation occurs (other than those made as a result of the liquidating distribution set forth in this Section 4.5(d)(i) and (ii) an amount equal to any accumulated and unpaid distributions thereon, whether or not declared, to the date of payment. In the event that, upon such voluntary or involuntary liquidation, dissolution or winding-winding up, there are insufficient assets to permit full payment of liquidating distributions to the holders of Series A Preferred Stock G Units and any Parity Preferred Units as to rights upon liquidation, dissolution or winding-winding up of the Partnership, all payments of liquidating distributions on the Series A Preferred G Units and such Parity Preferred Units shall be made so that the payments on the Series A Preferred G Units and such Parity Preferred Units shall in all cases bear to each other the same ratio that the respective rights of the Series A Preferred Unit G Units and such other Parity Preferred Units (which shall not include any accumulation in respect of unpaid distributions for prior distribution periods if such Parity Preferred Units do not have cumulative distribution rights) upon liquidation, dissolution or winding-winding up of the Partnership bear to each other.
Appears in 1 contract
Payment of Liquidating Distributions. Subject to the rights of holders of Parity Senior Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership and subject to Partnership Interests ranking senior to the Series A Parity Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership, the holders of Series A D Preferred Units shall be entitled to receive out of the assets of the Partnership legally available for distribution or the proceeds thereof, after payment or provision for debts and other liabilities of the Partnership, but before any payment or distributions of the assets shall be made to holders of any class or series of Partnership Interest units that ranks rank junior to the Series A D Preferred Units as with respect to rights upon liquidation, dissolution or winding-up of the Partnership, an amount equal to the sum of (i) a liquidation preference equal to their positive Capital Account balances, balances determined after taking into account all Capital Account adjustments for the Partnership taxable year during in which the liquidation occurs (other than those made as a result of the liquidating distribution set forth in this Section 4.5(d)(i4.2.10.4) and (ii) an amount equal to any accumulated and unpaid distributions Priority Return thereon, whether or not authorized or declared, to the date of payment. In the event thatIf, upon such voluntary or involuntary liquidation, dissolution or winding-up, there are insufficient assets to permit full payment of liquidating distributions to the holders of Series A D Preferred Stock Units and any Parity Preferred Units as with respect to rights upon liquidation, dissolution or winding-up of the Partnership, all payments of liquidating distributions on the Series A D Preferred Units and such Parity Preferred Units shall be made so that the payments on the Series A D Preferred Units and such Parity Preferred Units shall in all cases bear to each other the same ratio that the respective rights of the Series A D Preferred Unit Units and such other Parity Preferred Units (which shall not include any accumulation in respect of unpaid distributions for prior distribution periods if such Parity Preferred Units do not have cumulative distribution rights) upon liquidation, dissolution or winding-up of the Partnership bear to each other.
Appears in 1 contract
Samples: Second Amended and Restated Agreement of Limited Partnership (Urban Shopping Centers Inc)
Payment of Liquidating Distributions. Subject to the rights of holders of Parity Senior Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership and subject to Partnership Interests ranking senior to the Series A Parity Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership, the holders of Series A C Preferred Units shall be entitled to receive out of the assets of the Partnership legally available for distribution or the proceeds thereof, after payment or provision for debts and other liabilities of the Partnership, but before any payment or distributions of the assets shall be made to holders of any class or series of Partnership Interest units that ranks rank junior to the Series A C Preferred Units as with respect to rights upon liquidation, dissolution or winding-up of the Partnership, an amount equal to the sum of (iA) a liquidation preference equal to their positive Capital Account balancesthe Stated Value of such Series C Preferred Units, determined after taking into account all Capital Account adjustments for the Partnership taxable year during which the liquidation occurs (other than those made as a result of the liquidating distribution set forth in this Section 4.5(d)(i) and (iiB) an amount equal to any accumulated and unpaid distributions Priority Return thereon, whether or not declared, to the date of payment. In the event thatIf, upon such voluntary or involuntary liquidation, dissolution or winding-up, there are insufficient assets to permit full payment of liquidating distributions to the holders of Series A Preferred Stock C Exchanged Units and any Parity Preferred Units as with respect to rights upon liquidation, dissolution or winding-up of the Partnership, all payments of liquidating distributions on the Series A C Preferred Units and such Parity Preferred Units shall be made so that the payments on the Series A C Preferred Units and such Parity Preferred Units shall in all cases bear to each other the same ratio that the respective rights of the Series A C Preferred Unit and such other Parity Preferred Units (which shall not include any accumulation in respect of unpaid distributions for prior distribution periods if such Parity Preferred Units do not have cumulative distribution rights) upon liquidation, dissolution or winding-up of the Partnership bear to each other.
Appears in 1 contract
Samples: Limited Partnership Agreement (Rodamco North America N V)
Payment of Liquidating Distributions. Subject to the rights of holders of Parity Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership and subject to Partnership Interests ranking senior to the Series A E Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-winding up of the PartnershipPartner- ship, the holders of Series A E Preferred Units shall be entitled to receive out of the assets of the Partnership legally available for distribution or the proceeds thereof, after payment or provision for debts and other liabilities of the Partnership, but before any payment or distributions of the assets shall be made to holders of any class or series of Partnership Interest that ranks junior to the Series A E Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, an amount equal to the sum of (i) a liquidation preference equal to their positive Capital Account balances, determined after taking into account all Capital Account adjustments for the Partnership taxable year during which the liquidation occurs occurs, including the allocation of Net Income or Net Loss (and any specially allocated items) computed after adjusting the Gross Asset Values of the Partnership's assets immediately prior to any such liquidation if failure to make such adjustment to the Gross Asset Values would have an adverse economic impact the Series E Preferred Units (other than those made as a result of the liquidating distribution set forth in this Section 4.5(d)(i) and (ii) an amount equal to any accumulated and unpaid distributions thereon, whether or not declared, to the date of payment6(a)). In the event that, upon such voluntary or involuntary liquidation, dissolution or winding-up, there are insufficient assets to permit full payment of liquidating distributions to the holders of Series A E Preferred Stock Units and any Parity Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, all payments of liquidating distributions on the Series A Preferred Units and such Parity Preferred Units shall be made so that the payments on the Series A E Preferred Units and such Parity Preferred Units shall in all cases bear to each other the same ratio that the respective rights of the Series A E Preferred Unit and such other Parity Preferred Units (which shall not include any accumulation in respect of unpaid distributions for prior distribution periods if such Parity Preferred Units do not have cumulative distribution distribu- tion rights) upon liquidation, dissolution or winding-up of the Partnership bear to each other.
Appears in 1 contract
Payment of Liquidating Distributions. Subject to the rights of holders of Parity Senior Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership and subject to Partnership Interests ranking senior to the Series A Parity Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership, the holders of Series A D Preferred Units shall be entitled to receive out of the assets of the Partnership legally available for distribution or the proceeds thereof, after payment or provision for debts and other liabilities of the Partnership, but before any payment or distributions of the assets shall be made to holders of any class or series of Partnership Interest units that ranks rank junior to the Series A D Preferred Units as with respect to rights upon liquidation, dissolution or winding-up of the Partnership, an amount equal to the sum of (iA) a liquidation preference equal to their positive Capital Account balances, balances determined after taking into account all Capital Account adjustments for the Partnership taxable year during in which the liquidation occurs (other than those made as a result of the liquidating distribution set forth in this Section 4.5(d)(i(d)) and (iiB) an amount equal to any accumulated and unpaid distributions Priority Return thereon, whether or not authorized or declared, to the date of payment. In the event thatIf, upon such voluntary or involuntary liquidation, dissolution or winding-up, there are insufficient assets to permit full payment of liquidating distributions to the holders of Series A D Preferred Stock Units and any Parity Preferred Units as with respect to rights upon liquidation, dissolution or winding-up of the Partnership, all payments of liquidating distributions on the Series A D Preferred Units and such Parity Preferred Units shall be made so that the payments on the Series A D Preferred Units and such Parity Preferred Units shall in all cases bear to each other the same ratio that the respective rights of the Series A D Preferred Unit Units and such other Parity Preferred Units (which shall not include any accumulation in respect of unpaid distributions for prior distribution periods if such Parity Preferred Units do not have cumulative distribution rights) upon liquidation, dissolution or winding-up of the Partnership bear to each other.
Appears in 1 contract
Samples: Limited Partnership Agreement (Rodamco North America N V)
Payment of Liquidating Distributions. Subject to the rights of ------------------------------------ holders of Parity Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership and subject to Partnership Interests ranking senior to the Series A Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership, the holders of Series A Preferred Units shall be entitled to receive out of the assets of the Partnership legally available for distribution or the proceeds thereof, after payment or provision for debts and other liabilities of the Partnership, but before any payment or distributions of the assets shall be made to holders of any class or series of Partnership Interest that ranks junior to the Series A Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, an amount equal to the sum of (i) a liquidation preference equal to their positive Capital Account balances, determined after taking into account all Capital Account adjustments for the Partnership taxable year during which the liquidation occurs (other than those made as a result of the liquidating distribution set forth in this Section 4.5(d)(i) 6(a)), and (ii) an amount equal to any accumulated and unpaid distributions thereon, whether or not declared, to the date of payment. In the event that, upon such voluntary or involuntary liquidation, dissolution or winding-up, there are insufficient assets to permit full payment of liquidating distributions to the holders of Series A Preferred Stock and any Parity Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, all payments of liquidating distributions on the Series A Preferred Units and such Parity Preferred Units shall be made so that the payments on the Series A Preferred Units and such Parity Preferred Units shall in all cases bear to each other the same ratio that the respective rights of the Series A Preferred Unit and such other Parity Preferred Units (which shall not include any accumulation in respect of unpaid distributions for prior distribution periods if such Parity Preferred Units do not have cumulative distribution rights) upon liquidation, dissolution or winding-up of the Partnership bear to each other.
Appears in 1 contract
Samples: Amendment No. 1 to Second Amended and Restated Agreement of Limited Partnership (Regency Centers Lp)
Payment of Liquidating Distributions. Subject to the rights of holders of Parity Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership and subject to Partnership Interests equity securities ranking senior to the Series A 5 Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership, the holders of Series A 5 Preferred Units shall be entitled to receive out of the assets of the Partnership legally available for distribution or the proceeds thereof, after payment or provision for debts and other liabilities of the Partnership, but before any payment or distributions of the assets shall be made to holders of Common Units or any other class or series of units of Partnership Interest Interests that ranks rank junior to the Series A 5 Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, an amount equal to the sum of (i) a liquidation preference equal to their positive Capital Account balancesof $25 per Series 5 Preferred Unit, determined after taking into account all Capital Account adjustments for the Partnership taxable year during which the liquidation occurs (other than those made as a result of the liquidating distribution set forth in this Section 4.5(d)(i) and (ii) an amount equal to any accumulated and unpaid distributions thereon, whether or not declared, to the date of payment. In the event that, upon such voluntary or involuntary liquidation, dissolution or winding-up, there are insufficient assets to permit full payment of liquidating distributions to the holders of Series A 5 Preferred Stock Units and any Parity Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, all payments of liquidating distributions on the Series A 5 Preferred Units and such Parity Preferred Units shall be made so that the payments on the Series A 5 Preferred Units and such Parity Preferred Units shall in all cases bear to each other the same ratio that the respective rights of the Series A 5 Preferred Unit Units and such other Parity Preferred Units (which shall not include any accumulation in respect of unpaid distributions for prior distribution periods if such Parity Preferred Units do not have cumulative distribution rights) upon liquidation, dissolution or winding-up of the Partnership bear to each other.
Appears in 1 contract
Samples: Fourth Amended and Restated Agreement of Limited Partnership (Regency Centers Corp)
Payment of Liquidating Distributions. Subject to the rights of holders of Parity Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership and subject to Partnership Interests equity securities ranking senior to the Series A 4 Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership, the holders of Series A 4 Preferred Units shall be entitled to receive out of the assets of the Partnership legally available for distribution or the proceeds thereof, after payment or provision for debts and other liabilities of the Partnership, but before any payment or distributions of the assets shall be made to holders of Common Units or any other class or series of units of Partnership Interest Interests that ranks rank junior to the Series A 4 Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, an amount equal to the sum of (i) a liquidation preference equal to their positive Capital Account balancesof $25 per Series 4 Preferred Unit, determined after taking into account all Capital Account adjustments for the Partnership taxable year during which the liquidation occurs (other than those made as a result of the liquidating distribution set forth in this Section 4.5(d)(i) and (ii) an amount equal to any accumulated and unpaid distributions thereon, whether or not declared, to the date of payment. In the event that, upon such voluntary or involuntary liquidation, dissolution or winding-up, there are insufficient assets to permit full payment of liquidating distributions to the holders of Series A 4 Preferred Stock Units and any Parity Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, all payments of liquidating distributions on the Series A 4 Preferred Units and such Parity Preferred Units shall be made so that the payments on the Series A 4 Preferred Units and such Parity Preferred Units shall in all cases bear to each other the same ratio that the respective rights of the Series A 4 Preferred Unit Units and such other Parity Preferred Units (which shall not include any accumulation in respect of unpaid distributions for prior distribution periods if such Parity Preferred Units do not have cumulative distribution rights) upon liquidation, dissolution or winding-up of the Partnership bear to each other.
Appears in 1 contract
Samples: Amendment to Fourth Amended and Restated Agreement of Limited Partnership (Regency Centers Lp)
Payment of Liquidating Distributions. Subject to the rights of holders of Parity Preferred Units Stock with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-winding up of the Partnership Company and subject to Partnership Interests holders of preferred stock ranking senior to the Series A B Preferred Units Stock with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-winding up of the PartnershipCompany, the holders of Series A B Preferred Units Stock shall be entitled to receive out of the assets of the Partnership Company legally available for distribution or the proceeds thereof, after payment or provision for debts and other liabilities of the PartnershipCompany, but before any payment or distributions of the assets shall be made to holders of any class or series of Partnership Interest that ranks junior to the Series A Preferred Units as to rights upon liquidationJunior Stock, dissolution or winding-up of the Partnership, an amount equal to the sum of (i) a liquidation preference equal to their positive Capital Account balances, determined after taking into account all Capital Account adjustments for the Partnership taxable year during which the liquidation occurs (other than those made as a result of the liquidating distribution set forth in this Section 4.5(d)(i) and (ii) an amount equal to any accumulated and unpaid distributions thereon, whether or not declared, to the date of payment. In the event that, upon such voluntary or involuntary liquidation, dissolution or winding-winding up, there are insufficient assets to permit full payment of liquidating distributions to the holders of Series A B Preferred Stock and any Parity Preferred Units Stock as to rights upon liquidation, dissolution or winding-winding up of the PartnershipCompany, all payments of liquidating distributions on the Series A B Preferred Units Stock and such Parity Preferred Units Stock shall be made so that the payments on the Series A B Preferred Units Stock and such Parity Preferred Units Stock shall in all cases bear to each other the same ratio that the respective rights of the Series A B Preferred Unit Stock and such other Parity Preferred Units Stock (which shall not include any accumulation in respect of unpaid distributions for prior distribution periods if such Parity Preferred Units do Stock does not have cumulative distribution rights) upon liquidation, dissolution or winding-winding up of the Partnership Company bear to each other.
Appears in 1 contract
Samples: Purchase and Sale Agreement (Equity Lifestyle Properties Inc)
Payment of Liquidating Distributions. Subject to the rights of holders of Parity Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership and subject to Partnership Interests ranking senior to the Series A C Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-winding up of the Partnership, the holders of Series A C Preferred Units shall be entitled to receive out of the assets of the Partnership legally available for distribution or the proceeds thereof, after payment or provision for debts and other liabilities of the Partnership, but before any payment or distributions of the assets shall be made to holders of any class or series of Partnership Interest that ranks junior to the Series A C Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, an amount equal to the sum of (i) a liquidation preference equal to their positive Capital Account balances, determined after taking into account all Capital Account adjustments for the Partnership taxable year during which the liquida- tion occurs, including the allocation of Net Income or Net Loss (and any specially allocated items) computed after adjusting the Gross Asset Values of the Partnership's assets immediately prior to any such liquidation occurs if failure to make such adjustment to the Gross Asset Values would have an adverse economic impact the Series C Preferred Units (other than those made as a result of the liquidating distribution set forth in this Section 4.5(d)(i) and (ii) an amount equal to any accumulated and unpaid distributions thereon, whether or not declared, to the date of payment6(a)). In the event that, upon such voluntary or involuntary liquidation, dissolution or winding-up, there are insufficient assets to permit full payment of liquidating distributions to the holders of Series A C Preferred Stock Units and any Parity Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, all payments of liquidating distributions on the Series A Preferred Units and such Parity Preferred Units shall be made so that the payments on the Series A C Preferred Units and such Parity Preferred Units shall in all cases bear to each other the same ratio that the respective rights of the Series A C Preferred Unit and such other Parity Preferred Units (which shall not include any accumulation in respect of unpaid distributions for prior distribution periods if such Parity Preferred Units do not have cumulative distribution rights) upon liquidation, dissolution or winding-up of the Partnership bear to each other. Notice. Written notice of any such voluntary or involuntary liquidation, dissolution or winding-up of the Partnership, stating the payment date or dates when, and the place or places where, the amounts distributable in such circumstances shall be payable, shall be given by (i) fax and (ii) by first class mail, postage pre-paid, not less than 30 and not more than 60 days prior to the payment date stated therein, to each record holder of the Series C Preferred Units at the respective addresses of such holders as the same shall appear on the transfer records of the Partnership.
Appears in 1 contract
Payment of Liquidating Distributions. Subject to the rights of holders of Parity Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership and subject to Partnership Interests equity securities ranking senior to the Series A 7 Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership, the holders of Series A 7 Preferred Units shall be entitled to receive out of the assets of the Partnership legally available for distribution or the proceeds thereof, after payment or provision for debts and other liabilities of the Partnership, but before any payment or distributions of the assets shall be made to holders of Common Units or any other class or series of Units of the Partnership Interest that ranks junior to the Series A 7 Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, an amount a liquidation distribution in cash or property at fair market value as determined by the Board of Directors equal to the sum of (i) a liquidation preference equal to their positive Capital Account balancesof $25.00 per Series 7 Preferred Unit, determined after taking into account all Capital Account adjustments for the Partnership taxable year during which the liquidation occurs (other than those made as a result of the liquidating distribution set forth in this Section 4.5(d)(i) and (ii) an amount equal to any accumulated accrued and unpaid distributions dividends thereon, whether or not declared, to to, but not including, the date of payment. In the event that, upon such voluntary or involuntary liquidation, dissolution or winding-up, there are insufficient assets to permit full payment of liquidating distributions to the holders of Series A 7 Preferred Stock Units and any Parity Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, all payments of liquidating distributions on the Series A 7 Preferred Units and such Parity Preferred Units shall be made so that the payments on the Series A 7 Preferred Units and such Parity Preferred Units shall in all cases bear to each other the same ratio that the respective rights of the Series A 7 Preferred Unit Units and such other Parity Preferred Units (which shall not include any accumulation in respect of unpaid dividends or distributions for prior dividend or distribution periods if such Parity Preferred Units do does not have cumulative dividend or distribution rights) upon liquidation, dissolution or winding-up of the Partnership bear to each other.
Appears in 1 contract
Payment of Liquidating Distributions. Subject to the rights of holders of Parity Senior Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership and subject to Partnership Interests ranking senior to the Series A Parity Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership, the holders of Series A C Preferred Units shall be entitled to receive out of the assets of the Partnership legally available for distribution or the proceeds thereof, after payment or provision for debts and other liabilities of the Partnership, but before any payment or distributions of the assets shall be made to holders of any class or series of Partnership Interest units that ranks rank junior to the Series A C Preferred Units as with respect to rights upon liquidation, dissolution or winding-up of the Partnership, an amount equal to the sum of (i) a liquidation preference equal to their positive Capital Account balancesthe Stated Value of such Series C Preferred Units, determined after taking into account all Capital Account adjustments for the Partnership taxable year during which the liquidation occurs (other than those made as a result of the liquidating distribution set forth in this Section 4.5(d)(i) and (ii) an amount equal to any accumulated and unpaid distributions Priority Return thereon, whether or not declared, to the date of payment. In the event thatIf, upon such voluntary or involuntary liquidation, dissolution or winding-up, there are insufficient assets to permit full payment of liquidating distributions to the holders of Series A C Preferred Stock and any Parity Preferred Units as with respect to rights upon liquidation, dissolution or winding-up of the Partnership, all payments of liquidating distributions on the Series A C Preferred Units and such Parity Preferred Units shall be made so that the payments on the Series A C Preferred Units and such Parity Preferred Units shall in all cases bear to each other the same ratio that the respective rights of the Series A C Preferred Unit and such other Parity Preferred Units (which shall not include any accumulation in respect of unpaid distributions for prior distribution periods if such Parity Preferred Units do not have cumulative distribution rights) upon liquidation, dissolution or winding-up of the Partnership bear to each other.
Appears in 1 contract
Samples: Second Amended and Restated Agreement of Limited Partnership (Urban Shopping Centers Inc)
Payment of Liquidating Distributions. Subject to the rights of holders of Parity Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership and subject to Partnership Interests equity securities ranking senior to the Series A 3 Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership, the holders of Series A 3 Preferred Units shall be entitled to receive out of the assets of the Partnership legally available for distribution or the proceeds thereof, after payment or provision for debts and other liabilities of the Partnership, but before any payment or distributions of the assets shall be made to holders of Common Units or any other class or series of units of Partnership Interest Interests that ranks rank junior to the Series A 3 Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, an amount equal to the sum of (i) a liquidation preference equal to their positive Capital Account balancesof $25 per Series 3 Preferred Unit, determined after taking into account all Capital Account adjustments for the Partnership taxable year during which the liquidation occurs (other than those made as a result of the liquidating distribution set forth in this Section 4.5(d)(i) and (ii) an amount equal to any accumulated and unpaid distributions thereon, whether or not declared, to the date of payment. In the event that, upon such voluntary or involuntary liquidation, dissolution or winding-up, there are insufficient assets to permit full payment of liquidating distributions to the holders of Series A 3 Preferred Stock Units and any Parity Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, all payments of liquidating distributions on the Series A 3 Preferred Units and such Parity Preferred Units shall be made so that the payments on the Series A 3 Preferred Units and such Parity Preferred Units shall in all cases bear to each other the same ratio that the respective rights of the Series A 3 Preferred Unit Units and such other Parity Preferred Units (which shall not include any accumulation in respect of unpaid distributions for prior distribution periods if such Parity Preferred Units do not have cumulative distribution rights) upon liquidation, dissolution or winding-up of the Partnership bear to each other.
Appears in 1 contract
Samples: Amendment to Fourth Amended and Restated Agreement of Limited Partnership (Regency Centers Lp)
Payment of Liquidating Distributions. Subject to the rights of holders of Parity Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up winding‑up of the Partnership and subject to Partnership Interests equity securities ranking senior to the Series A 7 Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up winding‑up of the Partnership, the holders of Series A 7 Preferred Units shall be entitled to receive out of the assets of the Partnership legally available for distribution or the proceeds thereof, after payment or provision for debts and other liabilities of the Partnership, but before any payment or distributions of the assets shall be made to holders of Common Units or any other class or series of Units of the Partnership Interest that ranks junior to the Series A 7 Preferred Units as to rights upon liquidation, dissolution or winding-up winding‑up of the Partnership, an amount a liquidation distribution in cash or property at fair market value as determined by the Board of Directors equal to the sum of (i) a liquidation preference equal to their positive Capital Account balancesof $25.00 per Series 7 Preferred Unit, determined after taking into account all Capital Account adjustments for the Partnership taxable year during which the liquidation occurs (other than those made as a result of the liquidating distribution set forth in this Section 4.5(d)(i) and (ii) an amount equal to any accumulated accrued and unpaid distributions dividends thereon, whether or not declared, to to, but not including, the date of payment. In the event that, upon such voluntary or involuntary liquidation, dissolution or winding-upwinding‑up, there are insufficient assets to permit full payment of liquidating distributions to the holders of Series A 7 Preferred Stock Units and any Parity Preferred Units as to rights upon liquidation, dissolution or winding-up winding‑up of the Partnership, all payments of liquidating distributions on the Series A 7 Preferred Units and such Parity Preferred Units shall be made so that the payments on the Series A 7 Preferred Units and such Parity Preferred Units shall in all cases bear to each other the same ratio that the respective rights of the Series A 7 Preferred Unit Units and such other Parity Preferred Units (which shall not include any accumulation in respect of unpaid dividends or distributions for prior dividend or distribution periods if such Parity Preferred Units do does not have cumulative dividend or distribution rights) upon liquidation, dissolution or winding-up winding‑up of the Partnership bear to each other.
Appears in 1 contract
Samples: Fourth Amended and Restated Agreement of Limited Partnership (Regency Centers Lp)
Payment of Liquidating Distributions. Subject to the rights of holders of Parity Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership and subject to Partnership Interests equity securities ranking senior to the Series A 4 Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership, the holders of Series A 4 Preferred Units shall be entitled to receive out of the assets of the Partnership legally available for distribution or the proceeds thereof, after payment or provision for debts and other liabilities of the Partnership, but before any payment or distributions of the assets shall be made to holders of Common Units or any other class or series of units of Partnership Interest Interests that ranks rank junior to the Series A 4 Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, an amount equal to the sum of (i) a liquidation preference equal to their positive Capital Account balancesof $250 per Series 4 Preferred Unit, determined after taking into account all Capital Account adjustments for the Partnership taxable year during which the liquidation occurs (other than those made as a result of the liquidating distribution set forth in this Section 4.5(d)(i) and (ii) an amount equal to any accumulated and unpaid distributions thereon, whether or not declared, to the date of payment. In the event that, upon such voluntary or involuntary liquidation, dissolution or winding-up, there are insufficient assets to permit full payment of liquidating distributions to the holders of Series A 4 Preferred Stock Units and any Parity Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, all payments of liquidating distributions on the Series A 4 Preferred Units and such Parity Preferred Units shall be made so that the payments on the Series A 4 Preferred Units and such Parity Preferred Units shall in all cases bear to each other the same ratio that the respective rights of the Series A 4 Preferred Unit Units and such other Parity Preferred Units (which shall not include any accumulation in respect of unpaid distributions for prior distribution periods if such Parity Preferred Units do not have cumulative distribution rights) upon liquidation, dissolution or winding-up of the Partnership bear to each other.
Appears in 1 contract
Payment of Liquidating Distributions. Subject to the rights of holders of Parity Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership and subject to Partnership Interests ranking senior to the Series A Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-up of the Partnership, Partner- ship the holders of Series A B Preferred Units shall be entitled to receive out of the assets of the Partnership legally available for distribution or the proceeds thereof, after payment or provision for debts and other liabilities of the Partnership, but before any payment or distributions of the assets shall be made to holders of any class or series of Partnership Interest that ranks junior to the Series A B Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, an amount equal to the sum of (i) a liquidation preference equal to their positive Capital Account balances, determined after taking into account all Capital Account adjustments for the Partnership taxable year during which the liquidation occurs (other than those made as a result of the liquidating distribution set forth in this Section 4.5(d)(i) 6(a)), and (ii) an amount equal to any accumulated and unpaid distributions thereon, whether or not declared, to the date of payment. In the event that, upon such voluntary or involuntary liquidation, dissolution or winding-up, there are insufficient assets to permit full payment of liquidating distributions to the holders of Series A B Preferred Stock and any Parity Preferred Units as to rights upon liquidation, dissolution or winding-up of the Partnership, all payments of liquidating distributions on the Series A Preferred Units and such Parity Preferred Units shall be made so that the payments on the Series A B Preferred Units and such Parity Preferred Units shall in all cases bear to each other the same ratio that the respective rights of the Series A B Preferred Unit and such other Parity Preferred Units (which shall not include any accumulation in respect of unpaid distributions distribu- tions for prior distribution periods if such Parity Preferred Units do not have cumulative distribution rights) upon liquidation, dissolution or winding-up of the Partnership bear to each other. Notice. Written notice of any such voluntary or involuntary liquidation, dissolution or winding-up of the Partnership, stating the payment date or dates when, and the place or places where, the amounts distributable in such circumstances shall be payable, shall be given by (i) fax and (ii) by first class mail, postage pre-paid, not less than 30 and not more than 60 days prior to the payment date stated therein, to each record holder of the Series B Preferred Units at the respective addresses of such holders as the same shall appear on the transfer records of the Partnership.
Appears in 1 contract
Payment of Liquidating Distributions. Subject to the rights of holders of Parity Preferred Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-winding up of the Partnership and subject to Partnership Interests holders of preferred units ranking senior to the Series A Preferred H Units with respect to rights upon any voluntary or involuntary liquidation, dissolution or winding-winding up of the Partnership, the holders of Series A Preferred H Units shall be entitled to receive out of the assets of the Partnership legally available for distribution or the proceeds thereof, after payment or provision for debts and other liabilities of the Partnership, but before any payment or distributions of the assets shall be made to holders of any class or series of Partnership Interest that ranks junior to the Series A Preferred Units as to rights upon liquidationJunior Units, dissolution or winding-up of the Partnership, an amount equal to the sum of (i) a liquidation preference equal to their positive Capital Account balances, determined after taking into account all Capital Account adjustments for the Partnership taxable year during which the liquidation occurs (other than those made as a result of the liquidating distribution set forth in this Section 4.5(d)(i) and (ii) an amount equal to any accumulated and unpaid distributions thereon, whether or not declared, to the date of payment. In the event that, upon such voluntary or involuntary liquidation, dissolution or winding-winding up, there are insufficient assets to permit full payment of liquidating distributions to the holders of Series A Preferred Stock H Units and any Parity Preferred Units as to rights upon liquidation, dissolution or winding-winding up of the Partnership, all payments of liquidating distributions on the Series A Preferred H Units and such Parity Preferred Units shall be made so that the payments on the Series A Preferred H Units and such Parity Preferred Units shall in all cases bear to each other the same ratio that the respective rights of the Series A Preferred Unit H Units and such other Parity Preferred Units (which shall not include any accumulation in respect of unpaid distributions for prior distribution periods if such Parity Preferred Units do not have cumulative distribution rights) upon liquidation, dissolution or winding-winding up of the Partnership bear to each other.
Appears in 1 contract