Limited Partnership Unit definition

Limited Partnership Unit means a Limited Partnership Interest designated as a Common Unit.

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Limited Partnership Unit or "Partnership Unit" means the Partnership Interest in the Partnership to be issued to and held by the Limited Partners pursuant to Section 4.1, Section 4.2 or Section 4.5. The ownership of Units may be evidenced by such form of certificate as the General Partner may determine, in its discretion, and the transfer of the Units evidenced by such certificates shall be governed by Article 11.

Limited Partnership Unit means each Partnership Unit (other than LTIP Units) held by a Limited Partner.

Examples of Limited Partnership Unit in a sentence

• In accordance with the terms and limitations of such Preferred Units, each Series 8 Preferred Limited Partnership Unit may be reclassified into a Series 7 Preferred Limited Partnership Unit.

• Notwithstanding the foregoing, in no event may a holder of Vested LTIP Units convert an amount of Vested LTIP Units that exceeds (x) the Economic Capital Account Balance of such holder, to the extent attributable to its ownership of LTIP Units, divided by (y) the Limited Partnership Unit Economic Balance, in each case as determined as of the effective date of conversion (the “Capital Account Limitation”).

• Each Series 7 Preferred Limited Partnership Unit shall entitle the Holder thereof to one vote for the purposes of any approval at a meeting of the Holders of the Series 7 Preferred Limited Partnership Units or by written consent.

• The consideration for the issue of each Series 7 Preferred Limited Partnership Unit shall be C$25.00 or its equivalent in property or past services.

• The consideration for the issue of each Series 8 Preferred Limited Partnership Unit shall be C$25.00 or its equivalent in property or past services.

More Definitions of Limited Partnership Unit

Limited Partnership Unit means each Partnership Unit (as defined below) held by a Limited Partner. Each Limited Partnership Unit shall be paired with a SRC Limited Partnership Unit.

Limited Partnership Unit means a fractional, undivided share of the ownership interests in the Partnership issued hereunder to the Limited Partners.

Limited Partnership Unit means the ownership interest of a Limited Partner (other than the Special Limited Partner) in the Partnership at any particular time, including the right of such Limited Partner to any and all benefits to which such Limited Partner may be entitled as provided in this Agreement and in the Act, together with the obligations of such Limited Partner to comply with all the provisions of this Agreement and of such Act.

Limited Partnership Unit means a fractional, undivided share of the Limited Partnership Interests of all Limited Partners issued pursuant to Article 4 hereof. The number of Limited Partnership Units outstanding and the Limited Partner Percentage Interest represented by such Limited Partnership Units are set forth in Exhibit "A" attached hereto, as such Exhibit may be amended from time to time. The ownership of Limited Partnership Units shall be evidenced by such form of 183 certificate for units as the General Partner adopts from time to time unless the General Partner determines that the Limited Partnership Units shall be uncertificated securities. If the General Partner elects to evidence the Limited Partnership Units with a certificate, such certificate may be imprinted with a legend setting forth such restrictions placed on the units as specified in this Agreement and such restrictions will be binding upon all holders of the certificate along with the terms and conditions set forth in this Agreement.

Limited Partnership Unit means an interest in the Partnership representing a portions of the Limited Partnership Interests issued pursuant to Sections 4.1 or 4.2 hereof. The initial allocation of Limited Partnership Units among the Partners is as set forth on EXHIBIT A, as may be amended for time. to time.

Limited Partnership Unit and “Limited Partnership Units” have the meanings given in the recitals hereto;

Limited Partnership Unit or “Unit” means the Partnership interest and appurtenant rights, powers and privileges of a Limited Partner and represents the stated capital contributions with respect thereto, all as set forth elsewhere in this Agreement.