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 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.

  • Class E Units Number of Class E Units Number of Class E Units 8,853,832 8,853,832 Maximum Distribution Rate for Class E Units (per Common Unit) Maximum Distribution Rate for Class E Units (per Common Unit) Distribution Distribution •Class E Unit •Class E Unit $3,120,976 $3,120,976 •General Partner •General Partner 877,550 877,550 Total Total $3,998,526 $3,998,526 Class E Unit distribution treated as Treasury Unit thus distribution is returned to ETP.

  • The NRGM Common Unit Distribution is not required to be registered with the SEC pursuant to the Securities Act or the Exchange Act.

  • NRGY will use its reasonable best efforts to take, or cause to be taken, all actions, and to do, or cause to be done, all things necessary or desirable to effect the NRGM Common Unit Distribution in a manner so that the Closing can occur as promptly as practicable.

  • Subject to the terms and conditions of this Agreement and the Merger Agreement, each party hereto will use its reasonable best efforts to take, or cause to be taken, all actions and to do, or cause to be done, all things necessary or desirable to consummate the transactions contemplated by this Agreement, including the NRGM Common Unit Distribution and the Follow-On Contributions.

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 a Unit representing a fractional part of the equity interest in the Company having the rights and obligations specified with respect to the Class A Units in this Agreement.

  • 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 the Company's Class A 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.

  • 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 Holding Shares that are Outstanding on the Distribution Date pursuant to priority sixth of Section 5.2(a), which shall consist of the cash on deposit in the Up-MACRO Holding Trust after it makes or receives a payment under the Income Distribution Agreement and makes all other payments or investments in Eligible Treasuries that it is required to make pursuant to such 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 means common units representing limited partner interests in the Partnership.

  • 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.

  • 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) and (a)(vi), 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.

  • Tax Distribution has the meaning set forth in Section 4.4.

  • Tax Distribution Date has the meaning set forth in Section 4.01(b)(i).