Excess Units definition

Excess Units means Common Units that have been tendered for Redemption to the extent the issuance of REIT Shares in exchange for such units would violate the restrictions on ownership or transfer of the REIT Shares set forth in the Charter.

Excess Units means Tendered Units, the issuance of REIT Shares in exchange for which would result in a violation of the Ownership Limit.

Excess Units shall have the meaning set forth in Section 16.7.A(iii).

Examples of Excess Units in a sentence

• For purposes of determining the number of Series E Excess Units under this Section 18.8.A(iii), the "Ownership Limit" set forth in the Series E Articles Supplementary shall be deemed to be 9.0%.

• For purposes of determining the number of Series F Excess Units under this Section 19.8.A(iii), the "Ownership Limit" set forth in the Series F Articles Supplementary shall be deemed to be 9.0%.

• For purposes of determining the number of Series D Excess Units under this Section 17.8.A(iii), the "Ownership Limit" set forth in the Series D Articles Supplementary shall be deemed to be 9.0%.

• The owner of the Excess Units shall be deemed to have given an irrevocable proxy to the Excess Unit Trustee to vote the Excess Units for the benefit of the Charitable Beneficiary.

• For purposes of determining the number of Series I Excess Units under this Section 22.8.A(iii), the "Ownership Limit" set forth in the Series I Articles Supplementary shall be deemed to be 9.0%.

More Definitions of Excess Units

Excess Units has the meaning set forth in Section 5.9(b)(v)(B).

Excess Units has the meaning set forth in Section 4.5(g)(i)(C).

Excess Units has the meaning assigned to such term in Section 4.10(d).

Excess Units. , "Exchange Notice", "Exchange Price", "Preferred Unit Distribution Payment Date", "Preferred Unit Partnership Record Date" and "Priority Return" shall be deemed references to "Series A Excess Units", "Series A Exchange Notice", "Series A Exchange Price", "Series A Preferred Unit Distribution Payment Date", "Series A Preferred Unit Partnership Record Date" and "Series A Priority Return" respectively.

Excess Units shall have the meaning ascribed thereto in Section 9.5(b).

Excess Units means Units exchanged as provided in paragraph (d) of this Section 11.10.

Excess Units has the meaning set forth in Section 3.02(d).