Depositary Unit definition

Depositary Unit means an increment of the attributes of the Interest of the Depositary as a Limited Partner that is assigned to a Unit Holder.

Depositary Unit means a depositary unit representing a Unit on deposit with the Depositary pursuant to the Depositary Agreement.

Depositary Unit means a depositary unit representing a Unit on deposit with the Depositary pursuant to the Deposit Agreement.

Examples of Depositary Unit in a sentence

• By executing or adopting this Agreement, each Limited Partner and Substituted Limited Partner and, by the purchase of a Depositary Unit, each Unit Holder hereby consents to the admission of Substituted Limited Partners by the General Partner in accordance with the foregoing.

• Without limiting the generality of Section 7.2A, persons who become Limited Partners pursuant to Section 7.3 below and Unit Holders shall share pari passu on the basis of one Limited Partner Interest for one Depositary Unit, and shall be considered as a single class, with respect to all rights to receive distributions and allocations pursuant to this Agreement.

• Limited Partners (other than the Depositary) and Unit Holders shall vote on all matters in respect of which they are entitled to vote (either in person, by proxy, or by written consent), as a single class, with each Limited Partner Interest and each Depositary Unit entitled to one vote; provided, however, that the Depositary shall vote on behalf of and only as directed by the Unit Holders.

• Each transferee of a Unit (including any Person, such as a broker, dealer, bank, trust company, clearing corporation, other nominee holder or an agent of any of the foregoing, acquiring such Depositary Unit for the account of another Person) shall apply to become an Additional Limited Partner with respect to the Units transferred by executing and delivering a Transfer Application at the time of such transfer.

• Persons who effect such conversion will receive one Limited Partner Interest for each Depositary Unit they convert and will not be able to re-exchange their Limited Partner Interests for Depositary Units.

More Definitions of Depositary Unit

Depositary Unit means a Class A Unit on deposit with the Depositary pursuant to the Depositary Agreement.

Depositary Unit means a unit of ownership representing a Limited Partners’ Unit evidenced by a Certificate on deposit with the Depositary.

Depositary Unit. A Unit on deposit with the Depositary.

Depositary Unit. A depositary unit representing a Unit on deposit with the Depositary pursuant to the Depositary Agreement.

Depositary Unit means a Class A Unit on deposit with the Depositary pursuant to the Depositary Agreement. “Distribution Deficit,” as determined for each calendar quarter, means the excess, if any, of (a) the Indicated

Depositary Unit means the certificated beneficial ownership of one Trust Unit and an undivided one-fiftieth interest in a specific Treasury Obligation in a face amount of $1,000, as evidenced by a SPER™.

Depositary Unit. A Unit on deposit with the Depositary. Exchange: The acquisition by the Operating Partnership of the API Properties and other assets, subject to the liabilities, of the API Partnerships in connection with which the API Investors were issued Units and the Partnership acquired a 99% limited partner interest in the Operating Partnership, as described in the Registration Statement. Exchange Act: The Securities Exchange Act of 1934, as amended, and the regulations of the Commission promulgated thereunder. FIRPTA: The Foreign Investment in Real Property Tax Act of 1980, as amended from time to time, and applicable regulations thereunder. 4 Fiscal year: The fiscal year of the Partnership for financial accounting purposes, and for federal, state, and local income tax purposes, which shall be the calendar year unless changed by the General Partner in accordance with Section 8.03.