Common use of Preferred Units Clause in Contracts

Preferred Units. Without the consent of any Common Unitholder and notwithstanding anything herein to the contrary, the Board may cause the Company to issue one or more series of Preferred Units, which Preferred Units would have rights senior to those of the Common Units, and such other characteristics as the Board may determine, but, for so long as the Company operates as a closed-end management investment company, in a manner that complies with the legal requirements applicable to a closed-end management investment company. Prior to the issuance of a series of Preferred Units, the Board shall set the terms, preferences, conversion or other rights, voting powers, restrictions, limitations as to distributions, qualifications and terms or conditions of redemption.

Preferred Units. Without the consent of any Common Unitholder and notwithstanding anything herein to the contraryUnitholder, the Board may cause the Company to issue one or more series class of Preferred Units, which Preferred Units would have rights senior to those of the Common Units, and such other characteristics as the Board may determine, but, for so long as the Company operates as a closed-end management investment companyBDC, in a manner that complies with the legal requirements applicable to a closed-end management investment companyBDC. Prior to the issuance of a series of Preferred Units, the Board shall set the terms, preferences, conversion or other rights, voting powers, restrictions, limitations as to distributions, qualifications and terms or conditions of redemption.

Preferred Units. Without the consent of any Common Unitholder and notwithstanding anything herein to the contraryMember, the Board may cause the Company to issue one or more series class of Preferred Units, which Preferred Units would may have rights senior to those of the Common Units, and such other characteristics as the Board may determine, but, for so long as the Company operates as a closed-end management investment companyBDC, in a manner that complies with the requirements for the Company to comply with legal requirements applicable to a closed-end management investment companyBDC. Prior to the issuance of a series of Preferred Units, the Board shall set the terms, preferences, conversion or other rights, voting powers, restrictions, limitations as to distributions, qualifications and terms or conditions of redemptionredemption for such series.