Examples of Class D Preferred Unit in a sentence
The Initial Class D Preferred Unit Holders have the right to require the REIT to purchase all of the Class D Units held by the initial Class D Holders, beginning on the 10th anniversary of June 24, 2015.
Each Class D Preferred Unit shall automatically, without any further action by the holder of such Unit and whether or not the certificate representing such Unit is surrendered to the Company or its transfer agent, be converted into Common Units in accordance with this Section 3.8(b): (i) at any time upon the affirmative election of the Class D Preferred Majority Interest or(ii) immediately upon the consummation of a Qualified IPO.
Finally, no Class D Preferred Unit Holders, Class C Preferred Unit Holder, Class B Preferred Unit Holder or Class A Preferred Unit Holder (or holder of Common Units issued upon conversion of Preferred Units) shall be obligated to agree to any non-compete or other restrictive covenant in connection with any such Sale of the Company.
Additionally, any cash payment to Class D Preferred Unit holders upon a Change of Control will be subject to the limitations, if any, contained in the indentures governing any future issuances of senior notes.
Subject to the matters described under “— Liquidation Rights,” each Class D Preferred Unit will generally have a fixed liquidation preference of $25.00 per unit plus an amount equal to accumulated and unpaid distributions thereon to the date fixed for payment, whether or not declared.The Class D Preferred Units will represent perpetual equity interests in us and, unlike our indebtedness, will not give rise to a claim for payment of a principal amount at a particular date.
Transfer any Class D Preferred Unit that was purchased with the Walgreens Note; and (ii) Transfer any Unit Equivalents at any time that there is a continuing Event of Default (as defined in the Walgreens Note) under Section 5(a) of the Note (provided that such restriction on Transfer shall become ineffective and no longer apply once the applicable amount due and payable under the Note is fully paid).
Our ability to issue additional Parity Securities in certain circumstances or Senior Securities is limited as described under “—Voting Rights.” Change of ControlUpon the occurrence of a Change of Control (as defined below), we may, at our option, redeem the Class D Preferred Units in whole or in part within 120 days after the first date on which such Change of Control occurred by paying $25.00 per Class D Preferred Unit, plus all accrued and unpaid distributions to the redemption date.
No Class D Preferred Unit shall be transferable by any holder of Class D Preferred Units, except in compliance with all federal and applicable state securities laws.
The Preferred Units shall be issued by the Partnership pursuant to a Class D Preferred Unit Purchase Agreement, dated as of April 16, 2013 (the “Purchase Agreement”), by and among the Partnership and the purchasers named therein.
The Class D Preferred Units shall be entitled to the number of votes per Class D Preferred Unit equal to the number of whole Common Units into which one Class D 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.