Class B Preferred Unit definition

Class B Preferred Unit means a Partnership Interest representing a fractional part of the Partnership Interests of all Limited Partners and assignees, and having the rights and obligations specified with respect to a 9.00% Class B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Unit in this Agreement.

Class B Preferred Unit means a Unit in the Company designated as a “Class B Preferred Unit” and which shall provide the holder thereof with the rights and obligations specified with respect to a Class B Preferred Unit in this Agreement.

Class B Preferred Unit and which shall provide the holder thereof with the rights and obligations specified with respect to a Class B Preferred Unit in this Agreement.

Examples of Class B Preferred Unit in a sentence

• The initial Capital Account attributable to a Class B Preferred Unit shall be the Class B Stated Liquidation Preference, irrespective of the amount paid by the holder of such Class B Preferred Unit for such Unit.

• The Partnership shall effect any such redemption by paying cash for each Class B Preferred Unit to be redeemed equal to the Class B Redemption Price, plus an amount equal to all accumulated and unpaid distributions thereon to, but not including, the applicable Class B Redemption Date.

• The Class B Preferred Units shall be entitled to the number of votes per Class B Preferred Unit equal to the number of whole Common Units into which one Class B Preferred Unit is then convertible on all matters for which the holders of Units are entitled to vote under the terms of this Agreement and the Act.

• As soon as practicable after the Company has determined that there will be Available Securities, but in any event within five months after the Separation, the Company shall give written notice (the “Option Notice”) to the Investors setting forth the number and type (i.e., Unvested Carried Common Unit, Vested Carried Common Unit, Co-Invest Common Unit or Class B Preferred Unit) of Available Securities and the purchase price(s) for such Available Securities.

• The Parties intend that the issuance of the Additional Class B Preferred Units to Stonepeak pursuant hereto, together with the 9,851,996 Class B Preferred Units issued to Stonepeak on December 6, 2016, taken together with the adjustment of the Class B Preferred Unit Price, will not affect or otherwise result in a change in Stonepeak’s Capital Account balance in the Partnership, as determined in respect of its Class B Preferred Units.

More Definitions of Class B Preferred Unit

Class B Preferred Unit means a Partnership Security having the rights and obligations set forth in the Amended and Restated Certificate of Designation of the Powers, Preferences and Relative Participating Optional and other Special Rights of Preferred Units and Qualifications, Limitations and Restrictions thereof of 12% Cumulative Class B Preferred Units for Atlas Pipeline Partners, L.P. dated as of March 30, 2009, attached hereto as Exhibit 5.12(b) and incorporated herein (the “Class B Preferred Certificate of Designation”).

Class B Preferred Unit means Units designated as such on Exhibit A and having the rights and privileges provided in this Agreement for such class.

Class B Preferred Unit means a Unit representing a fractional part of the interest of a Unitholder in Profits, Losses and Distributions and having the rights and obligations specified with respect to the Class B Preferred Units in this Agreement. "CLASS B UNPAID YIELD" of any Class B Preferred Unit means, as of any date, an amount equal to the excess, if any, of (a) the aggregate Class B Yield accrued on such Class B Preferred Unit for all periods prior to such date (including partial periods), over (b) the aggregate amount of prior Distributions made by the LLC that constitute payment of Class B Yield on such Class B Preferred Unit. For purposes of this definition, any Class B Preferred Unit issued upon any exercise of a Warrant shall be deemed to have been outstanding from the date of issuance of such Warrant. "CLASS B UNRETURNED CAPITAL" of any Class B Preferred Unit means, as of any date, the aggregate Capital Contributions made or deemed to be made in exchange for such Class B Preferred Unit reduced by all Distributions made by the LLC that constitute a return of Class B Unreturned Capital in respect of such Class B Preferred Unit under SECTION 4.1(a)(VI).

Class B Preferred Unit. “Class C Preferred Unit” and “Class D Preferred Unit” each have the respective meanings assigned to such term in the Partnership Agreement, as in effect on the Issue Date.

Class B Preferred Unit means a Partnership Security having the rights and obligations set forth in the Amended and Restated Certificate of Designation of the Powers, Preferences and Relative Participating Optional and other Special Rights of Preferred Units and Qualifications, Limitations and Restrictions thereof of 12% Cumulative Convertible Class B Preferred Units for Atlas Pipeline Partners, L.P. dated December 30, 2008, attached hereto as Exhibit 5.12(b) and incorporated herein (the “Class B Preferred Certificate of Designation”). A Class B Preferred Unit shall not constitute a Unit or a Common Unit until such time as such Preferred Unit is converted into a Common Unit.

Class B Preferred Unit means a Partnership Interest representing a fractional part of the Partnership Interests of all Limited Partners and assignees, and having the rights and obligations specified with respect to a Class B Preferred Unit in this Agreement, including Class B Preferred PIK Units, provided that such Class B Preferred PIK Units shall be subject to such restrictions as are set forth herein. A Class B Preferred Unit that is convertible into a Common Unit shall not constitute a Common Unit until such conversion occurs.

Class B Preferred Unit means Units held by the Class B Preferred Member.