Class B Partnership Units definition

Class B Partnership Units means those Partnership Units other than Class A Partnership Units and which represent the Partnership interest of the Limited Partners.
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Class B Partnership Units has the meaning set forth in the A&R LPA.
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Class B Partnership Units means the Class B limited partnership units of Partnership;
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Examples of Class B Partnership Units in a sentence

  • A class of Partnership Units shall be designated as Class B Partnership Units (the "Class B Units"), and 100 shall be the total number of Partnership Units constituting such class.

  • Except as expressly provided herein, Class A Partnership Units and Class B Partnership Units shall entitle the holders thereof to equal rights under this Agreement.

  • The fair value of the Class B Partnership Units approximates their fair value.

  • Partnership interests shall be divided between Class A Partnership Units and Class B Partnership Units.

  • Upon such merger, the consideration for the Class B Partnership Units of each Class B Limited Partner will be OP Units and/or such Class B Limited Partner's allocable share of the Net Liquidity Event Proceeds.

  • Upon the withdrawal or removal of a General Partner, those Class A Partnership Units held by such Partner shall automatically be converted to Class B Partnership Units.

  • Upon satisfaction of the Redemption Amount, the REIT shall acquire the Class B Partnership Units specified in the Redemption Notice and such Units will automatically be converted to Class A Partnership Units and thereafter the REIT shall be treated for all purposes of this Agreement as the owner of such Partnership Units.

  • If LTP fails to timely provide a Notice of its preference to the General Partner, all of the Class C Partnership Units will be converted to Class B Partnership Units in accordance with the formula stated in clause (ii) of this Paragraph 3(c).

  • During the year, the Fund paid $1,287,000 (2004 - $nil) on Class B Partnership Units and $29,000 on trustee remuneration (2004 -$nil).

  • Included in accounts payable is $3,873 of unpaid trustee remuneration (2004 - $nil) and included in unit holders distribution payable is $639,000 of unpaid distributions on the Class B Partnership Units (2004- $nil).


More Definitions of Class B Partnership Units

Class B Partnership Units means the Partnership Units having the Redemption Rights and the other rights specified in Exhibit D.
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Class B Partnership Units means the Partnership Units having the rights specified in Exhibit D.
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Class B Partnership Units means the limited partnership equity interests in the Partnership held by Class B Limited Partners and bearing all of the rights and obligations of the “Class B Partnership Units” provided herein.
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Related to Class B Partnership Units

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Class B Units means the Class B Units of the Company.

  • Class A LP Units means, collectively, the Class A limited partnership units of the Partnership.

  • Class B Common Units has the meaning set forth in Section 1(a) hereof.

  • OP Units means units of limited partnership interest in the Operating Partnership.

  • Membership Units means the limited liability company interests in the Company held by the Members, expressed as a number of units held by each Member and set forth opposite such Member's name on Schedule I attached hereto, as amended, modified or supplemented from time to time.

  • Class A Common Units means the Company's Class A Common Units.

  • LP Units means the non-voting limited partnership units in the capital of BEP, other than the Preferred Units, including any LP Units issued pursuant to the Redemption-Exchange Mechanism.

  • Preferred Units means a Partnership Interest, including the Series A Preferred Units, designated as a “Preferred Unit,” which entitles the holder thereof to a preference with respect to distributions, or as to the distribution of assets upon any Liquidation Event, over Common Units.

  • Class B Limited Partner means any Person executing (by power of attorney or otherwise) this Agreement as of the date hereof as a Class B Limited Partner or hereafter admitted to the Partnership as a Class B Limited Partner as herein provided, but shall not include any Person who has ceased to be a Class B Limited Partner in the Partnership.

  • Common Units is defined in the Partnership Agreement.

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.

  • General Partner Units has the meaning assigned to such term in the Partnership Agreement.

  • Partnership Unit means a fractional, undivided share of the Partnership Interests of all Partners issued hereunder. The allocation of Partnership Units among the Partners shall be as set forth on Exhibit A, as may be amended from time to time.

  • General Partnership Interest means a Partnership Interest held by the General Partner that is a general partnership interest.

  • Limited Partnership Interest means the ownership interest of a Limited Partner in the Partnership at any particular time, including the right of such Limited Partner to any and all benefits to which such Limited Partner may be entitled as provided in this Agreement and in the Act, together with the obligations of such Limited Partner to comply with all the provisions of this Agreement and of such Act.

  • Common Unitholder means a Member who is the registered holder of Common Units.

  • Class B Interests As set forth in the Trust Agreement.

  • Series A Preferred Units has the meaning assigned to such term in Section 5.11(a).

  • Partnership Unit Designation shall have the meaning set forth in Section 4.2.A hereof.

  • Series B Preferred Units shall have the meaning provided in Section 1.

  • Series A Units means Series A currency hedged mutual fund units and/or Series A non-currency hedged mutual fund units of a fund, as applicable.

  • Initial Common Units means the Common Units sold in the Initial Offering.

  • Class B Common Unit means one of that certain class of Common Units with those special rights and obligations specified in this Agreement as being appurtenant to a “Class B Common Unit”.

  • Series C Preferred Units shall have the meaning provided in Section 1.