Common Unit Distribution definition

Common Unit Distribution has the meaning set forth in Section 4.04(a) hereof.
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Common Unit Distribution shall have the meaning set forth in Section 4.2.C hereof.
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Common Unit Distribution means cash distributions per Series A Preferred Unit equal in value to (i) the amount of any cash distribution declared or paid, without duplication, on a Common Unit at any time such Series A Preferred Unit was outstanding multiplied by (ii) the Series A Conversion Factor (as defined below) in effect on the date of declaration of such distribution. For the avoidance of doubt, the distributions paid to Series A Unitholders shall be in the form of cash consideration and any non-cash consideration distributed with respect to a Common Unit or REIT Share shall be taken into account in the Series A Conversion Factor or the Conversion Factor, as applicable. Any distribution payable on a Series A Preferred Unit for any partial distribution period during which such Series A Preferred Unit was outstanding will be computed in accordance with Section 5.02 of the Partnership Agreement. The distributions upon the Series A Preferred Units shall be paid in arrears (without interest) on the distribution payment date with respect thereto. If the full amount of the Series A Distribution is not paid on such distribution payment date, then the Series A Distribution shall accrue, whether or not the Partnership has earnings, whether or not there are funds legally available for the payment thereof and whether or not such distributions are earned, declared or authorized. The General Partner shall not declare, and the Partnership shall not pay or set aside for payment, any distribution on Junior Securities or redeem any Partnership Units held by any Person, including, without limitation, the General Partner and its Affiliates, at any time that the Series A Distribution has accrued but remains unpaid with respect to any outstanding Series A Preferred Unit unless concurrently with such distribution on Junior Securities or redemption the aggregate accrued but unpaid Series A Distribution on all outstanding Series A Preferred Units has been paid in full; provided that the Partnership shall be required to redeem pursuant to Section 5 of this Addendum any Series A Preferred Units submitted for redemption pursuant to such section and shall make the payment of the applicable Redemption Price prior to the payment of any Series A Distributions on any Series A Preferred Units not so redeemed, and in such event, any unpaid distributions to the Series A Unitholders that the Series A Unitholders would otherwise be entitled to receive shall accrue and remain payable to the Series A Unitholders. ...
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Examples of Common Unit Distribution in a sentence

  • The number of Common Units to be issued in connection with the Common Unit Distribution Amount or the PIK Distribution Additional Amount in any instance shall be determined by dividing the cash amount of the Common Unit Distribution Amount or the PIK Distribution Additional Amount, as applicable, by the VWAP Price.

  • It is agreed that where there is a reference to payment being made in respect of the Common Unit Distribution Credit Facility that the payment shall, in order of priority, be applied against or in respect of the Common Unit Distribution Credit Advance that has been outstanding for the longest period of time.

  • For greater certainty, if the subtraction of E in the above formula results in a difference that is zero (0) or a negative number, no Common Unit Distribution Credit Advance is available on the applicable anniversary of the Common Unit Distribution Credit Advance Calculation Date.

  • The total number of common units payable in connection with the Common Unit Distribution Amount or the PIK Distribution Additional Amount cannot exceed $2 million in any period of 20 consecutive fiscal quarters.

  • All advances under the Common Unit Distribution Credit Facility up to and including the Final Closing Date will bear interest at the Floating Rate, plus two (2%) per cent, up to and including the Final Closing Date, but will be converted on the Final Closing Date to the then current Thirty Year Rate, plus two (2%) per cent, to be in effect until the Maturity Date.

  • Hydro will also provide a Common Unit Distribution Credit Facility to provide each KCN Investment Entity holding Class K Common Units with a cash flow on its Own Cash Invested at the Minimum Distribution Rate, as described in section 5.3 of this JKDA.

  • All advances under the Common Unit Distribution Credit Facility following the Final Closing Date will bear interest at the Thirty Year Rate, in effect at the date of advance, plus two (2%) per cent, to be in effect until the Maturity Date.

  • The YFFNLP Total Outstandings under the Common Unit Distribution Credit Facility, as at the Final Closing Date, shall be divided into five (5) equal amounts.

  • For Common Unit Distribution Credit Advances received after the Final Closing Date, each such Common Unit Distribution Credit Advance, shall bear interest at a fixed interest rate (expressed as a percentage rate per annum) equal to the Thirty Year Rate in effect on the date such Advance is deposited to the YFFNLP account plus a fixed interest amount of two (2%) percent per annum.

  • If the requirements of section 2.2(2) are met, such that FLCNKII is entitled to receive a Common Unit Distribution Credit Advance from Hydro, a Borrowing Notice shall have been deemed to have been received by Hydro for the amount of such Advance.

Related to Common Unit Distribution

  • Common Unit means a common unit representing a limited partner interest in the Partnership having the rights set forth in the Partnership Agreement.

  • Class A Common Unit means a Common Unit having the rights and obligations specified with respect to Class A Common Units in this Agreement.

  • Class A Unit means any Partnership Unit that is not specifically designated by the General Partner as being of another specified class of Partnership Units.

  • 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”.

  • Class A Common Units means a Common Unit which is designated as a “Class A Common Unit” and which has the rights, preferences and other privileges designated in Annex A hereto and elsewhere in this Agreement in respect of holders of Common Units.

  • Common Unit Economic Balance means (i) the Capital Account balance of the General Partner, plus the amount of the General Partner’s share of any Partner Minimum Gain or Partnership Minimum Gain, in either case to the extent attributable to the General Partner’s ownership of Partnership Common Units and computed on a hypothetical basis after taking into account all allocations through the date on which any allocation is made under Section 6.2.D hereof, divided by (ii) the number of the General Partner’s Partnership Common Units.

  • Partnership Unit Economic Balance means (i) the Capital Account balance of the General Partner plus the amount of the General Partner’s share of any Partner Minimum Gain or Partnership Minimum Gain, in each case to the extent attributable to the General Partner’s Partnership Units divided by (ii) the number of the General Partner’s Partnership Units.

  • Class B Unit means a Partnership Unit which is designated as a Class B Unit of the Partnership.

  • Capital Distribution means, with respect to any Person, a payment made, liability incurred or other consideration given for the purchase, acquisition, repurchase, redemption or retirement of any Equity Interest of such Person or as a dividend, return of capital or other distribution in respect of any of such Person’s Equity Interests.

  • Common Unit Price has the meaning specified in Section 2.1(b).

  • Quarterly Distribution means with respect to each Distribution Date, the distribution to be made to the Holders of the Up-MACRO Tradeable Shares that are Outstanding on the Distribution Date pursuant to Section 5.2(a).

  • 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.

  • Preferred Unit means a fractional, undivided share of the Partnership Interests that has distribution rights, or rights upon liquidation, winding up and dissolution, that are superior or prior to the Common Units that the General Partner has authorized pursuant to Section 4.2 hereof.

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

  • 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.

  • Common Units is defined in the Partnership Agreement.

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

  • Current Class B Interest Distribution Amount As to any Distribution Date, the amount distributed in respect of the Classes of Class B Certificates pursuant to Paragraphs fifth, eighth, eleventh, fourteenth, seventeenth and twentieth of Section 4.01(a) on such Distribution Date.

  • Class C Distribution Amount With respect to any Distribution Date, the sum of (i) the Current Interest for the Class C Interest for such Distribution Date, (ii) any Overcollateralization Release Amount for such Distribution Date and (iii) without duplication, any Subsequent Recoveries not distributed to the Class A, Class M and Class B Certificates on such Distribution Date; provided, however, that, on any Distribution Date after the Distribution Date on which the Certificate Principal Balances of the Class A, Class M and Class B Certificates have been reduced to zero, the Class C Distribution Amount shall include the Overcollateralization Amount.

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

  • Profit Distribution Date means the date on which the Management Company decides to distribute the profits (if any).

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

  • Class A Interest Distribution Amount means, as to each Class of Class A Certificates and any Remittance Date, the sum of the amounts specified in clause (a)(i), (a)(ii), (a)(iii), (a)(iv), (a)(v), (a)(vi) and (a)(vii), as appropriate, of the definition of the term "Class A Formula Distribution Amount" and the Unpaid Class A Interest Shortfall, if any, with respect to such Class.

  • 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.

  • Quarterly Distribution Date means the last Business Day of the month following the end of each calendar quarter after the Effective Date; provided, however, that if the Effective Date is within 45 days of the end of a calendar quarter, the first Quarterly Distribution Date will be the last Business Day of the month following the end of the first calendar quarter after the calendar quarter in which the Effective Date falls.

  • Subsequent Distribution Date means the last Business Day of the month following the end of each calendar quarter after the Effective Date; provided, however, that if the Effective Date is within thirty (30) days of the end of a calendar quarter, then the first Subsequent Distribution Date will be the last Business Day of the month following the end of the first (1st) calendar quarter after the calendar quarter in which the Effective Date falls.