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Preferred Unit Sample Clauses

Preferred Unit. Exhibit A of the Agreement is hereby deleted and is replaced in its entirety by new Exhibit A attached hereto as Attachment 2.
Preferred UnitThe Capital Account balance of each holder of Series 1 Preferred Units in respect of its Series 1 Preferred Units shall not be increased or decreased except as otherwise provided in this Agreement. The initial Capital Account balance in respect of each Class D Unit issued on the Class D Unit Issuance Date shall be the Class D Unit Notional Value, which amount shall be reallocated from the Capital Account balance of the General Partner. The initial Capital Account balance in respect of each Class E Unit issued on the Class E Unit Issuance Date shall be the Class E Unit Notional Value. The initial Capital Account balance in respect of each Incentive Distribution Unit shall be an amount equal to the current Capital Account balance of the General Partner (as reduced by any reallocation of the Capital Account of the General Partner to Class D Units) less an amount equal to 2% of the total positive Capital Account balances of all Partners (excluding Capital Account balances of Partners in respect of Series I Preferred Units).
Preferred UnitThe term "Preferred Unit" is defined in Exhibit A attached hereto.
Preferred UnitThe Capital Account balance of each holder of Series 1 Preferred Units in respect of its Series 1 Preferred Units shall not be increased or decreased except as otherwise provided in this Agreement. The initial Capital Account balance in respect of each Class D Unit issued on the Class D Unit Issuance Date shall be the Class D Unit Notional Value, which amount shall be reallocated from the Capital Account balance of the General Partner. The initial Capital Account balance in respect of each Incentive Distribution Unit shall be an amount equal to the current Capital Account balance of the General Partner (as reduced by any reallocation of the Capital Account of the General Partner to Class D Units) less an amount equal to 2% of the total positive Capital Account balances of all Partners (excluding Capital Account balances of Partners in respect of Series I Preferred Units).
Preferred Unit. The Capital Account balance of each holder of Series 1 Preferred Units in respect of its Series 1 Preferred Units shall not be increased or decreased except as otherwise provided in this Agreement.
Preferred Unit. The failure to give, or any defect in, any notice provided for in this Section 24 shall not affect the validity of such exchange
Preferred Unit. Unless ET has received the affirmative vote or consent of the holders of at least two-thirds of the outstanding ET Series D Preferred Units, voting as a separate class, ET may not adopt any amendment to the ET Partnership Agreement that would have a material adverse effect on the terms of the ET Series D Preferred Units. In addition, unless ET has received the affirmative vote or consent of the holders of at least two-thirds of the outstanding ET Series D Preferred Units, voting as a class together with holders of any other parity securities upon which like voting rights have been conferred and are exercisable, ET may not (i) create or issue any parity securities (including any additional ET Series D Preferred Units) if the cumulative distributions payable on then outstanding ET Series D Preferred Units (or parity securities, if applicable) are in arrears, or (ii) create or issue any senior securities. On any matter on which the holders of the ET Series D Preferred Units are entitled to vote as a class, such holders will be entitled to one vote per ET Series D Preferred Unit.
Preferred Unit. Each Preferred Unit issued and outstanding immediately before the Effective Time shall be cancelled, extinguished and converted into and represent only the right to receive an amount in cash, without any interest thereon, equal to the Per Series A Unit Merger Consideration, upon the terms and subject to the conditions set forth in this Agreement, including the Escrow Amount and Expense Fund contribution provisions set forth in Section 1.10(g) and Section 1.10(h) and the indemnification provisions set forth in SECTION 11.
Preferred UnitBeginning on October 1, 2002, and on each October 1 thereafter, the annual rate of the cash distributions payable to the holders of Series A Preferred Units shall increase by $0.20 per year; provided, that, (i) no such increase shall be made for any such annual period if the closing price for the common stock of Xxxxxxxx Petroleum Corporation, a Delaware corporation ("Xxxxxxxx-Delaware) is equal to or greater than $4.00 per share (as adjusted) on the last business day in September prior to the commencement of a new annual period, and (ii) the annual dividend rate shall never exceed $2.00 per Preferred Unit. The distributions payable under this paragraph 3(c) shall be cumulative whether or not in any distribution period there are funds of the Company legally available for the payment of such distributions and whether or not such distributions are declared. The distributions payable under this paragraph 3(c) shall be payable quarterly, in arrears, on March 31, June 30, September 30 and December 31 of each year. Notwithstanding anything to the contrary above, distributions shall be paid only when, as and if declared by the Board out of funds legally available therefor; provided, neither the failure of the Board to declare a distribution nor the absence of funds legally available to make a cash distribution shall affect the Company's obligation to make accruals. The distribution amount for any period that is shorter or longer than a full quarterly distribution period shall be computed on the basis of a 360-day year and the actual number of days elapsed (including the first day but excluding the last day) occurring in the period for which such amount is payable.