Parent Partnership Units definition
Examples of Parent Partnership Units in a sentence
All issued and outstanding Parent Partnership Units are duly authorized, validly issued, fully paid and free of preemptive rights.
Except as set forth in this Section 5.3, as of the date hereof, there are no existing options, warrants, calls, subscriptions, convertible securities or other rights, agreements or commitments which obligate Parent OP to issue, transfer or sell any Parent Partnership Units.
The names and addresses of the Partners are set forth on the signature pages hereto, and the names of the Partners together with the number of Common Units and General Partner Units held by the Partners and the number of underlying Parent Partnership Units held by the Partnership, in each case effective immediately following the execution of this Agreement, are set forth on Schedule I hereto.
To the extent that any Other Partner elects to sell any Tag Securities pursuant to an Investor Tag Sale, such Other Partner shall sell such Tag Securities to the Partnership which shall sell a corresponding number of Parent Partnership Units to the Parent, whereupon such Other Partner shall receive consideration for its Tag Securities equal to such Other Partner’s pro rata share of any consideration received by the Partnership from Parent pursuant to the Investor Tag Sale (the “Tag Consideration”).
Other than the aggregate number of Parent Partnership Units owned by the limited partners of Parent OP set forth in Section 4.05(a) of the Parent Letter, Parent directly owns all of the issued and outstanding Parent Partnership Units of Parent OP, free and clear of any Liens, and all Parent Partnership Units have been duly authorized and validly issued and are fully paid, non-assessable and free of preemptive rights.
As of the date hereof, there is no capital stock or other Parent Securities of Parent OP issued and outstanding other than such Parent Partnership Units.
All Parent Partnership Units issued in the Partnership Combination shall be duly authorized and validly issued and free of preemptive rights.
As of March 31, 2023, Parent, through its wholly owned Subsidiaries, owned 16,124,204 Parent Partnership Units, constituting 94.0% of the Parent Partnership Units.
As of October 23, 2019, Parent owned 631,747,641 Parent OP Units and 1,379,000 Parent Preferred Units, constituting 97.23% of the Parent Partnership Units.
As of October 23, 2019, Parent OP’s Limited Partners (as defined in the Parent Partnership Agreement), owned in the aggregate 9,969,358 Parent OP Units and 8,613,300 Class A Convertible Common Units, constituting 2.77% of the Parent Partnership Units (based on assumed full conversion of all Class A Convertible Common Units outstanding as of October 23, 2019).