Examples of OP Units in a sentence

The Operating Partnership is structured to permit limited partners holding certain classes or series of OP Units to exchange those OP Units for shares of our common stock (in a taxable transaction) and achieve liquidity for their investment.
The interests in the Operating Partnership held by the partners are referred to herein as OP Units.
In connection with the issuances of OP Units described in Section 1, (i) the Operating Partnership hereby admits the Contributing Party as a limited partner in the Operating Partnership in accordance with the terms of that certain Axxxxxx and Restated Limited Partnership Agreement of the Operating Partnership, dated as of the date hereof (the “OP LPA”), and (ii) the Contributing Party hereby agrees to be bound by the terms of the OP LPA.
The Redemption Right provided to the holders of OP Units under Section 8.6 hereof shall not apply with respect to LTIP Units unless and until they are converted to OP Units as provided in clause (v) below and Section 4.7.
The Company owns all of its outstanding OP Units free and clear of any Liens, except as described in the Registration Statement and the Prospectus.

More Definitions of OP Units

OP Units shall have the meaning set forth in the Recitals hereof.

OP Units means units of limited partnership interest of the Partnership owned by the Protected Partners, as described in the Partnership Agreement, and any other partnership interest into which such OP Units may be converted.

OP Units shall have the meaning set forth in the Preamble.

OP Units has the meaning set forth in the Partnership Agreement.

OP Units means the units of limited partnership interest in Xxxxxxxxx Xxxxxx Properties Operating Partnership, L.P., a California limited partnership.