OP Common Unit definition

OP Common Unit means an OP Unit that is classified as a “Partnership Common Unit” in the OP Agreement.
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OP Common Unit means a fractional, undivided share of the Partnership Interests of all Partners issued pursuant to Sections 4.1, 4.2, and 4.3, but does not include any OP Preferred Unit or any other OP Unit not designated as an OP Common Unit; provided, however, that the General Partner Interest and the Limited Partner Interests shall have the differences in rights, preferences and privileges as specified in this Agreement. The number of OP Common Units outstanding and the Percentage Interests in the Partnership represented by such OP Common Units are set forth in Exhibit A, as such Exhibit may be amended from time to time. The ownership of OP Common Units may (but need not, in the sole and absolute discretion of the General Partner) be evidenced by such form of certificate for OP Common Units as the General Partner may adopt from time to time. The General Partner may reflect on any such certificate any transfer or other restriction, forfeitability risk, or similar matter that pertains to the OP Common Units evidenced thereby.
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OP Common Unit set forth in Section 1.1 of the Existing Agreement is hereby deleted in its entirety and replaced with the following:
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Examples of OP Common Unit in a sentence

  • To the extent that such final Capital Account balances would not so reflect the provisions of this Exhibit B, income and loss of the Partnership for the current year and future years, as computed for book purposes, shall be allocated among the OP Preferred Unit Partners and the OP Common Unit Partners so as to result in final Capital Account balances reflecting the provisions of this Exhibit B.

  • The Company OP Common Unit Payment Amount shall be subject to adjustment as specified in Section 2.1(d) and Section 5.15(b)(i).

  • In the event that the Capital Account balance of more than one OP Common Unit Partner is disproportionate to such OP Common Unit Partner's Percentage Interest, the largest such relative disproportion shall be cured first, until it is equal, on a relative basis, to the next largest such disproportion, and so on, to the extent Net Income or Net Loss (or items thereof) are available.

  • Each Company OP Common Unit issued and outstanding immediately prior to the Partnership Merger Effective Time owned by a holder of Company OP Common Units other than the Company (each such holder, a “Company OP Minority Partner”) shall be automatically converted into the right to receive nineteen dollars and thirty cents ($19.30) in cash (the “Company OP Common Unit Payment Amount”).

  • Except as otherwise provided in Section 7.3B, this Exhibit B and any OP Unit Designation, Net Income (or items thereof) for any fiscal year or other applicable period shall be allocated to the OP Common Unit Partners in accordance with their respective Percentage Interests.

  • Notwithstanding any other provision of this Agreement, each holder of Operating Partnership Common Units converted pursuant to the Mergers who would otherwise have been entitled to receive a fraction of a New Parent OP Common Unit shall receive, in lieu thereof, cash, without interest, in an amount equal to such fractional part of a New Parent OP Common Unit multiplied by the VWAP of Parent Common Shares.

  • Except as otherwise provided in this Exhibit B, Net Loss (or items thereof) of the Partnership for each fiscal year or other applicable period shall be allocated to the OP Common Unit Partners in accordance with the OP Common Unit Partners' respective Percentage Interests.

  • In addition to the Company OP Common Units held by Company and Company GP, as of the date hereof, 2,231,511 Company OP Common Units (excluding Company OP Preferred Units) were issued and outstanding, and each such Company OP Common Unit is redeemable in accordance with the Company LP Agreement.

  • Each OP Common Unit issued and outstanding immediately prior to the OP Effective Time shall be converted automatically into the right to receive $23.50 (as adjusted to reflect adjustments to the OP Merger Consideration pursuant to Section 5.1(b)(i)) in cash, without interest (the aggregate of such amounts hereinafter referred to as the "OP Common Units Merger Consideration").

  • The outstanding Patriot OP Common Units and Wyndham OP Common Units may only be redeemed by the holders thereof as a unit of one Patriot OP Common Unit and one Wyndham OP Common Unit (the "Paired Common Units") and upon the redemption of each Paired Common Unit the Operating Partnerships may deliver cash or, at their election, one share of Paired Common Stock.


More Definitions of OP Common Unit

OP Common Unit means the class of partnership units of the Operating Partnership designated as “Common Units” pursuant to the Existing OP
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Related to OP Common Unit

  • Common Unit means a common unit representing a limited partner interest in the Partnership having the rights set forth in the Partnership 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 Unit means a Common Unit having the rights and obligations specified with respect to Class A Common Units in this Agreement.

  • Initial Common Units means the Common Units sold in the Initial Offering.

  • 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.

  • Common Units is defined in the Partnership Agreement.

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

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

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

  • General Partner Unit means a fractional part of the General Partner Interest having the rights and obligations specified with respect to the General Partner Interest. A General Partner Unit is not a Unit.

  • 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.

  • OP Unit means a Partnership Unit which is designated as an OP Unit of the Partnership.

  • Class V Common Stock means the Class V common stock, par value $0.0001 per share, of the Corporation.

  • 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.

  • OP Unit Economic Balance has the meaning set forth in Section 6.03(c) hereof.

  • REIT Share means a share of common stock, par value $.01 per share, of the General Partner.

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

  • sub-unit means, with respect to any currency other than euro, the lowest amount of such currency that is available as legal tender in the country of such currency and, with respect to euro, means one cent.

  • Class B Common Shares means the Class B Convertible Voting Common Shares of the Company, par value $1.00 per share.

  • Class A Common Shares means class A common shares of a nominal or par value of US$0.00001 each in the capital of the Company having the rights provided for in the Memorandum and Articles of Association, and any shares into which such class A common shares may be converted.

  • Class B Common Stock means the Class B common stock, par value $0.0001 per share, of the Company.

  • Class B Units means the Class B Units of the Company.

  • Common Unit Arrearage means, with respect to any Common Unit, whenever issued, as to any Quarter within the Subordination Period, the excess, if any, of (a) the Minimum Quarterly Distribution with respect to a Common Unit in respect of such Quarter over (b) the sum of all Available Cash distributed with respect to a Common Unit in respect of such Quarter pursuant to Section 6.4(a)(i).