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Common use of Relative Seniority Clause in Contracts

Relative Seniority. In respect of rights to receive quarterly distributions and to participate in distributions of payments in the event of any liquidation, dissolution or winding up of the Partnership, the Series B Preferred Partnership Units shall rank (i) senior to the Common Partnership Units and any other class or series of Partnership Units of the Partnership ranking, as to quarterly distributions and upon liquidation, junior to the Series B Preferred Partnership Units (collectively, “Junior Partnership Units”) and (ii) pari passu with the Series A Preferred Partnership Units and any other class or series of Partnership Units of the Partnership ranking, as to quarterly distributions and upon liquidation, pari passu with the Series B Preferred Partnership Units.

Appears in 1 contract

Samples: Limited Partnership Agreement (Highwoods Properties Inc)

Relative Seniority. In respect of rights to receive quarterly distributions and to participate in distributions of payments in the event of any liquidation, dissolution or winding up of the Partnership, the Series B D Preferred Partnership Units shall rank (i) senior to the Common Partnership Units and any other class or series of Partnership Units of the Partnership ranking, as to quarterly distributions and upon liquidation, junior to the Series B D Preferred Partnership Units (collectively, “Junior Partnership Units”) and (ii) pari passu with the Series A Preferred Partnership Units, the Series B Preferred Partnership Units and any other class or series of Partnership Units of the Partnership ranking, as to quarterly distributions and upon liquidation, pari passu with the Series B D Preferred Partnership Units.

Appears in 1 contract

Samples: Limited Partnership Agreement (Highwoods Properties Inc)

Relative Seniority. In respect of rights to receive quarterly distributions and to participate in distributions of payments in the event of any liquidation, dissolution or winding up of the Partnership, the Series B D Preferred Partnership Units shall rank (i) senior to the Common Partnership Units and any other class or series of Partnership Units of the Partnership ranking, as to quarterly distributions and upon liquidation, junior to the Series B D Preferred Partnership Units (collectively, "Junior Partnership Units") and (ii) pari passu with the Series A Preferred Partnership Units, the Series B Preferred Partnership Units and any other class or series of Partnership Units of the Partnership ranking, as to quarterly distributions and upon liquidation, pari passu with the Series B D Preferred Partnership Units.

Appears in 1 contract

Samples: First Amended and Restated Agreement of Limited Partnership (Highwoods Properties Inc)

Relative Seniority. In respect of rights to receive quarterly distributions and to participate in distributions of payments in the event of any liquidation, dissolution or winding up of the Partnership, the Series B D Preferred Partnership Units shall rank (i) senior to the Common Partnership Units and any other class or series of Partnership Units of the Partnership ranking, as to quarterly distributions and upon liquidation, junior to the Series B D Preferred Partnership Units (collectively, "Junior Partnership Units") and (ii) pari passu PARI PASSU with the Series A Preferred Partnership Units, the Series B Preferred Partnership Units and any other class or series of Partnership Units of the Partnership ranking, as to quarterly distributions and upon liquidation, pari passu PARI PASSU with the Series B D Preferred Partnership Units.

Appears in 1 contract

Samples: First Amended and Restated Agreement of Limited Partnership (Highwoods Forsyth L P)

Relative Seniority. In respect of rights to receive quarterly distributions and to participate in distributions of payments in the event of any liquidation, dissolution or winding up of the Partnership, the Series B Preferred Partnership Units shall rank (i) senior to the Common Partnership Units and any other class or series of Partnership Units of the Partnership ranking, as to quarterly distributions and upon liquidation, junior to the Series B Preferred Partnership Units (collectively, "Junior Partnership Units") and (ii) pari passu PARI PASSU with the Series A Preferred Partnership Units and any other class or series of Partnership Units of the Partnership ranking, as to quarterly distributions and upon liquidation, pari passu PARI PASSU with the Series B Preferred Partnership Units.

Appears in 1 contract

Samples: Amendment to Limited Partnership Agreement (Highwoods Properties Inc)