Class B OP Units shall have the meaning set forth in Section 6.1(c).
Class B OP Units means Class B units of limited partnership of our operating partnership, as described under "Description of the Partnership Agreement of Our Operating Partnership;"
Class B OP Units and, together with the Class A OP Units, “OP Units”). Each holder of OP Units is referred to herein as a “Holder” and collectively, the “Holders.” The Holders are the beneficial owners of OP Units issued and outstanding on the date hereof after giving effect to (i) the Formation Transactions (as defined in the Company’s Preliminary Offering Memorandum, subject to completion, dated as of November 26, 2019 (the “Preliminary Offering Memorandum”) and (ii) the closing of the offering of Common Stock (the “Private Offering”) pursuant to that certain Purchase/Placement Agreement, dated as of December 19, 2019, by and among the Company, the Operating Partnership and Stifel (the “Purchase/Placement Agreement”), Nicolaus & Company, Incorporated, a Missouri corporation, as the initial purchaser/placement agent (“Stifel”) and the application of the net proceeds of the Private Offering as described under the heading “Use of Proceeds” in the Preliminary Offering Memorandum. In connection with the Formation Transactions, the parties desire to enter into this Agreement in order to grant certain registration rights to the Holders as set forth herein. The parties hereto hereby agree as follows:
Examples of Class B OP Units in a sentence
Following the execution of a Key Person Joinder, the Operating Partnership shall amend Exhibit A to the Operating Partnership's LPA to reflect the resulting ownership of the Class B OP Units.
Class A OP Units are any OP Units other than Class B OP Units, while Class B OP Units are those issued to or held by MAALP’s general partner or any of its subsidiaries.
Issuance or redemption of additional Class A OP Units or Class B OP Units changes the relative ownership percentage of the partners.
The issuance of Class B OP Units generally occurs when MAA issues common stock and the proceeds from that issuance are contributed to MAALP in exchange for the issuance to MAA of a number of OP Units equal to the number of shares of common stock issued.
Under the Partnership Agreement, MAALP may issue Class A OP Units and Class B OP Units.
More Definitions of Class B OP Units
Class B OP Units. As defined in the preamble.
Class B OP Units. Class B units of limited partnership interests in the Operating Partnership. Closing Date: December 23, 2019 or such other time or such other date as Stifel and the Company may agree. Commission: The U.S. Securities and Exchange Commission.
Class B OP Units shall have the meaning set forth in the Recitals hereof.
Class B OP Units means Class B common units of limited partner interest in the Operating Partnership (including the number of Class B OP Units issuable upon the exchange of DownREIT Class B Units (as defined in the Partnership Agreement)).
Class B OP Units into Class A OP Units in accordance with the Partnership Unit Designation relating to the Class B OP Units. ARTICLE 7 NOTICES All notices, requests, demands and other communications required to or permitted to be given to any Party under this Agreement shall be in writing, sent to the address or facsimile number set forth beneath its respective signature hereto, or to such other address or facsimile number as any such Party may designate as its new address for such purpose by notice given to the other Parties in accordance with the provisions of this Article 7, and shall be conclusively deemed to have been duly given (a) upon delivery if delivered by hand; (b) five (5) days after the same have been deposited in a United States post office via certified mail/return receipt requested; (c) the next Business Day after same have been deposited with a national overnight delivery service (e.g., Federal Express); or (d) when delivered by facsimile to the Parties.
Class B OP Units means the Class B common units of limited partner interest in the Partnership, including the Series GN, Series NW, Series OV, Series SC, and Series SS Class B OP Units and any other series of Class B OP Units as set forth in a Partnership Unit Designation. Each Partnership Unit Designation with respect to any series of Class B OP Units shall provide that such series of Class B OP Units shall correspond to a particular Facilities Portfolio. Partnership Unit Designations, as may be amended from time to time, for the Series GN, Series NW, Series OV, Series SC, and Series SS Class B OP Units are attached hereto as Exhibits F-1, F-2, F-3, F-4, and F-5 respectively.
Class B OP Units each class C unit of limited partner interest in the Operating Partnership (the “Class C OP Units”), the general partnership interest in the Operating Partnership (the “GP Interests”) and each other outstanding unit of limited partner interest in the Operating Partnership (the “Common OP Units” and collectively with the the Class B OP Units, the Class C OP Units and the GP Interests, the “OP Units”), issued and outstanding immediately prior to the Partnership Merger Effective Time (other than (i) OP Units owned by Parent or any direct or indirect Subsidiary of Parent and (ii) OP Units owned by the Company or any direct or indirect Subsidiary of the Company (each, an “Excluded OP Unit” and collectively, the “Excluded OP Units”)) shall be converted into the right to receive the Per Share REIT Merger Consideration per OP Unit (the “Per OP Merger Consideration”). At the Partnership Merger Effective Time, each OP Unit that has been converted into the right to receive the Per OP Merger Consideration shall cease to be outstanding, shall automatically be cancelled and shall cease to exist, and shall thereafter represent only the right to receive the Per OP Merger Consideration, without interest.