Common use of Rank Clause in Contracts

Rank. The Series A Preferred Units shall rank, with respect to payment of distributions and distribution of assets upon a Dissolution Event: (a) junior to all of the Partnership’s existing and future indebtedness and any equity securities, including Preferred Units, that the Partnership may authorize or issue, the terms of which provide that such securities shall rank senior to the Series A Preferred Units with respect to payment of distributions and distribution of assets upon a Dissolution Event; (b) equally to any Parity Units; and (c) senior to any Junior Units.

Appears in 11 contracts

Samples: Limited Partnership Agreement, Limited Partnership Agreement (Steel Partners Holdings L.P.), Agreement of Limited Partnership (Steel Partners Holdings L.P.)

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Rank. The Series A Preferred Units shall rank, with respect to payment of distributions and distribution of assets upon a Dissolution Event: (a) junior to all of the PartnershipCompany’s existing and future indebtedness and any equity securities, including Preferred Units, that the Partnership Company may authorize or issue, the terms of which provide that such securities shall rank senior to the Series A Preferred Units with respect to payment of distributions and distribution of assets upon a Dissolution Event; (b) equally to any Parity Units; and (c) senior to any Junior Units.

Appears in 6 contracts

Samples: Operating Agreement (Brookfield Oaktree Holdings, LLC), Operating Agreement (Oaktree Capital Group, LLC), Operating Agreement (Oaktree Capital Group, LLC)

Rank. The Series A B Preferred Units shall rank, with respect to payment of distributions and distribution of assets upon a Dissolution Event: (a) junior to all of the PartnershipCompany’s existing and future indebtedness and any equity securities, including Preferred Units, that the Partnership Company may authorize or issue, the terms of which provide that such securities shall rank senior to the Series A B Preferred Units with respect to payment of distributions and distribution of assets upon a Dissolution Event; (b) equally to any Parity Units; and (c) senior to any Junior Units.

Appears in 5 contracts

Samples: Operating Agreement (Brookfield Oaktree Holdings, LLC), Operating Agreement (Oaktree Capital Group, LLC), Operating Agreement (Oaktree Capital Group, LLC)

Rank. The Series A Preferred Units shall rank, with respect each be deemed to payment rank as to distributions on such Partnership Securities and distributions upon liquidation of distributions and distribution of assets upon a Dissolution Eventthe Partnership: (aA) senior to any Series A Junior Securities; (B) on a parity with any Series A Parity Securities; (C) junior to any other Series A Senior Securities; and (D) junior to all of the Partnership’s existing and future indebtedness and any equity securities, including Preferred Units, that of the Partnership may authorize or issue, the terms of which provide that such securities shall rank senior to the Series A Preferred Units and other liabilities with respect to payment of distributions and distribution of assets upon a Dissolution Event; (b) equally available to any Parity Units; and (c) senior to any Junior Unitssatisfy claims against the Partnership.

Appears in 4 contracts

Samples: Limited Partnership Agreement (Energy Transfer Operating, L.P.), Fourth Amended and Restated Agreement of Limited Partnership (Energy Transfer Partners, L.P.), Fourth Amended and Restated Agreement of Limited Partnership

Rank. The Series A Preferred Units shall rankwill, with respect to payment distribution rights and rights upon liquidation, dissolution or winding up of distributions and distribution of assets upon a Dissolution Event: the Partnership, rank (a) prior or senior to any class or series of Common Units and any Junior Preferred Units; (b) on a parity with Parity Preferred Units; (c) junior to all of the Partnership’s Senior Preferred Units; and (d) junior to all existing and future indebtedness and any equity securities, including of the Partnership. The term “Preferred Units” does not include convertible debt securities of the Partnership, that the Partnership may authorize or issue, the terms of which provide that such securities shall rank senior to the Series A Preferred Units with respect prior to payment of distributions and distribution of assets upon a Dissolution Event; (b) equally to any Parity Units; and (c) senior to any Junior Unitsconversion.

Appears in 3 contracts

Samples: Agreement of Limited Partnership (Agree Realty Corp), Limited Partnership Agreement (Pebblebrook Hotel Trust), Agreement of Limited Partnership (Pebblebrook Hotel Trust)

Rank. The Series A Preferred Units shall rank, with respect to payment of distributions and distribution of assets upon a Dissolution Event: (a) junior to all of the Partnership’s existing and future indebtedness and other liabilities and any equity securities, including Preferred Units, that the Partnership may authorize or issue, the terms of which provide that such securities shall rank senior to the Series A Preferred Units with respect to payment of distributions and distribution of assets upon a Dissolution Event; (b) equally to any Parity Units; and (c) senior to any Junior Units.

Appears in 2 contracts

Samples: Limited Partnership Agreement, Limited Partnership Agreement (Carlyle Group L.P.)

Rank. The Series A Preferred Units shall rankUnits, with respect to payment of distributions distribution rights and distribution of assets rights upon a Dissolution Event: (a) junior to all liquidation, dissolution or winding up of the Partnership’s existing and future indebtedness and any equity securities, including Preferred will rank (i) senior to OP Units, that the LTIP Units, Senior Common Units and to all other Partnership may authorize or issue, the terms of which provide that such securities shall rank senior Interests ranking junior to the Series A Preferred Units with respect to payment distribution rights or rights upon liquidation, dissolution or winding up of distributions and distribution of assets upon the Partnership; (ii) on a Dissolution Event; (b) equally to any parity with the Preferred Parity Units; and and (ciii) senior junior to any Junior Unitsall existing and future indebtedness of the Partnership.

Appears in 1 contract

Samples: Second Amended and Restated Agreement of Limited Partnership (Gladstone Commercial Corp)

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Rank. The Series A B Preferred Units shall rank, with respect to payment of distributions and distribution of assets upon a Dissolution Event: : (a) junior to all of the PartnershipCompany’s existing and future indebtedness and any equity securities, including Preferred Units, that the Partnership Company may authorize or issue, the terms of which provide that such securities shall rank senior to the Series A B Preferred Units with respect to payment of distributions and distribution of assets upon a Dissolution Event; ; (b) equally to any Parity Units; and and (c) senior to any Junior Units.

Appears in 1 contract

Samples: Operating Agreement (Oaktree Capital Group, LLC)

Rank. The Series A B Preferred Units shall rank, with respect to payment of distributions and distribution of assets upon a Dissolution Event: (a) junior to all of the Partnership’s existing and future indebtedness and any equity securities, including Preferred Units, that the Partnership may authorize or issue, the terms of which provide that such securities shall rank senior to the Series A B Preferred Units with respect to payment of distributions and distribution of assets upon a Dissolution Event; (b) equally to any Parity Units; and (c) senior to any Junior Units.

Appears in 1 contract

Samples: Limited Partnership Agreement (KKR & Co. L.P.)

Rank. The Series A Preferred Units shall rankwill, with respect to payment of distributions distribution rights and distribution of assets rights upon a Dissolution Event: (a) junior to all liquidation, dissolution or winding up of the Partnership’s existing and future indebtedness and any equity securities, including Preferred Units, that the Partnership may authorize or issue, the terms of which provide that such securities shall rank senior to the Series A Preferred Common Units with respect to payment of distributions and distribution of assets upon a Dissolution Event; (b) equally to any Parity Units; and other class or series of equity securities of the Partnership now or hereafter issued and outstanding (c) senior to any collectively, the “Junior Units”).

Appears in 1 contract

Samples: Limited Partnership Agreement (SmartStop Self Storage REIT, Inc.)

Rank. The Series A Preferred Units shall rank, with respect to payment of distributions and distribution of assets upon a Dissolution Event: : (a) junior to all of the PartnershipCompany’s existing and future indebtedness and any equity securities, including Preferred Units, that the Partnership Company may authorize or issue, the terms of which provide that such securities shall rank senior to the Series A Preferred Units with respect to payment of distributions and distribution of assets upon a Dissolution Event; ; (b) equally to any Parity Units; and and (c) senior to any Junior Units.

Appears in 1 contract

Samples: Operating Agreement (Oaktree Capital Group, LLC)

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