Common use of Series A Preferred Units Clause in Contracts

Series A Preferred Units. (a) The authorized number of Series A Preferred Units shall be unlimited. Series A Preferred Units that are redeemed, purchased or otherwise acquired by the Partnership shall be cancelled. (b) The Series A Preferred Units shall be represented by a single certificate registered in the name of the Depository or its nominee, and no Series A Holder shall be entitled to receive a certificate evidencing such Series A Preferred Units, unless otherwise required by law or the Depository gives notice of its intention to resign or is no longer eligible to act as such and the Partnership shall have not selected a substitute Depository within 60 calendar days thereafter. So long as the Depository shall have been appointed and is serving, payments and communications made by the Partnership to Series A Holders shall be made by making payments to, and communicating with, the Depository.