Common Unit Conversion Factor definition

Common Unit Conversion Factor means 1.0, provided, that, in the event that the Partnership (i) makes a distribution to all holders of its Common Units in Common Units (other than a distribution of Common Units pursuant to an offer to all holders of Common Units and SCUs permitting each to elect to receive a distribution in Common Units in lieu of a cash distribution (such a distribution of Common Units is referred to herein as a "Distribution of Common Units in Lieu of Cash")), (ii) subdivides or splits its outstanding Common Units (which shall expressly exclude any Distribution of Common Units in Lieu of Cash), or (iii) combines or reverse splits its outstanding Common Units into a smaller number of Common Units (in each case, without making a comparable distribution, subdivision, split, combination or reverse split with respect to the SCUs), the Common Unit Conversion Factor in effect immediately preceding such event shall be adjusted by multiplying the Common Unit Conversion Factor by a fraction, the numerator of which shall be the number of Common Units issued and outstanding on the record date for such distribution, subdivision, split, combination or reverse split (assuming for such purposes that such distribution, subdivision, split, combination or reverse split occurred as of such time), and the denominator of which shall be the actual number of Common Units (determined without the above assumption) issued and outstanding on the record date for such distribution, subdivision, split, combination or reverse split. Any adjustment to the Common Unit Conversion Factor shall become effective immediately after the record date for such event in the case of a distribution or the effective date in the case of a subdivision, split, combination or reverse split.

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Common Unit Conversion Factor means 1.0, provided, that, in the event that the Partnership (i) makes a distribution to all holders of its Common Units in Common Units (other than a distribution of Common Units pursuant to an offer to all holders of Common Units, SCUs, S-SCUs and L-SCUs permitting each to elect to receive a distribution in Common Units in lieu of a cash distribution (such a distribution of Common Units is referred to herein as a "Distribution of Common Units in Lieu of Cash")), (ii) subdivides or splits its outstanding Common Units (which shall expressly exclude any Distribution of Common Units in Lieu of Cash), or (iii) combines or reverse splits its outstanding Common Units into a smaller number of Common Units (in each case, without making a comparable distribution, subdivision, split, combination or reverse split with respect to the SCUs, S-SCUs and L-SCUs), the Common Unit Conversion Factor in effect immediately preceding such event shall be adjusted by multiplying the Common Unit Conversion Factor by a fraction, the numerator of which shall be the number of Common Units issued and outstanding on the record date for such distribution, subdivision, split, combination or reverse split (assuming for such purposes that such distribution, subdivision, split, combination or reverse split occurred as of such time), and the denominator of which shall be the actual number of Common Units (determined without the above assumption) issued and outstanding on the record date for such distribution, subdivision, split, combination or reverse split. Any adjustment to the Common Unit Conversion Factor shall become effective immediately after the record date for such event in the case of a distribution or the effective date in the case of a subdivision, split, combination or reverse split. "Common Unit Distribution Amount" shall mean the product of (i) the quarterly distribution paid with respect to one Common Unit for that quarter pursuant to Section 6.2(a)(v) hereof multiplied by (ii) Common Unit Conversion Factor.

Common Unit Conversion Factor means 100%, provided that such factor shall be adjusted in accordance with Section 6(d).

Examples of Common Unit Conversion Factor in a sentence

• Any adjustment to the Conversion Factor or the Common Unit Conversion Factor pursuant to Section 6(a) or Section 6(d) (respectively) with respect to any event shall become effective at such time as is necessary to prevent dilution or expansion of the Redemption Rights on account of such event.

• Any adjustment to the Common Unit Conversion Factor shall become effective immediately after the record date for such event in the case of a distribution or the effective date in the case of a subdivision, split, combination or reverse split.

• The outstanding Class A Convertible Common Units shall be included in the number of outstanding Common Units on an as converted basis (i.e., each outstanding Class A Convertible Common Unit multiplied by the Class A Convertible Common Unit Conversion Factor in effect on the date of determination) for the purpose of any calculation of the Percentage Interests of the Common Units (with respect to consents, voting or otherwise).

• On or after such date, the Partnership may in its sole discretion at any time from time to time elect to redeem any or all of outstanding Class A Convertible Common Units, at a redemption price, payable in cash, equal to the product of (i) the number of Class A Convertible Common Units being redeemed, (ii) the Class A Convertible Common Unit Price and (iii) the Class A Convertible Common Unit Conversion Factor.

• For purposes of this Section 1.14, the Partnership, at any time at the election of the General Partner in connection with a Cash Capital Transaction, shall cause all of Class A Convertible Common Units held by a holder of Class A Convertible Common Units to be converted (a “Class A Convertible Common Unit Forced Conversion”) into a number of Common Units (after giving effect to any adjustments made pursuant to Schedule L-1 and the Class A Convertible Common Unit Conversion Factor).

• Any adjustment to the Common Unit Conversion Factor pursuant to the immediately preceding sentence shall become effective on the effective date of such event retroactive to the record date, if any, for such event.

More Definitions of Common Unit Conversion Factor

Common Unit Conversion Factor means 1.0, provided, that, in the event that the Partnership (i) makes a distribution to all holders of its Common Units in Common Units (other than a distribution of Common Units pursuant to an offer to all holders of Common Units, SCUs S-SCUs, L-SCUs, and K-SCUs permitting each to elect to receive a distribution in Common Units in lieu of a cash distribution (such a distribution of Common Units is referred to herein as a “Distribution of Common Units in Lieu of Cash”)), (ii) subdivides or splits its outstanding Common Units (which shall expressly exclude any Distribution of Common Units in Lieu of Cash), or (iii) combines or reverse splits its outstanding Common Units into a smaller number of Common Units (in each case, without making a comparable distribution, subdivision, split, combination or reverse split with respect to the SCUs, S-SCUs, L-SCUs or K-SCUs), the Common Unit Conversion Factor in effect immediately preceding such event shall be adjusted by multiplying the Common Unit Conversion Factor by a fraction, the numerator of which shall