Partnership Units definition

Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

Partnership Units means the limited and general partnership units in the Partnership held by each of the Beneficiaries as of the Record Date.

Partnership Units is defined in the Recitals of this Agreement.

Examples of Partnership Units in a sentence

• If any such transferee desires to make a further assignment of any such Partnership Units, such transferee shall be subject to all the provisions of this Article XI to the same extent and in the same manner as any Limited Partner desiring to make an assignment of Partnership Units.

• The General Partner hereby grants its consent to the admission as a Substituted Limited Partner to any bona fide financial institution that loans money or otherwise extends credit to a holder of Partnership Units and thereafter becomes the owner of such Partnership Units pursuant to the exercise by such financial institution of its rights under a pledge of such Partnership Units granted in connection with such loan or extension of credit.

• No Limited Partner may withdraw from the Partnership other than as a result of a permitted transfer of all of such Limited Partner’s Partnership Units in accordance with this Article XI and the transferee of such Partnership Units being admitted to the Partnership as a Substituted Limited Partner, or pursuant to redemption of all of its Partnership Units under Section 8.6.

• The Grantee acknowledges that any exchange of Partnership Units for Common Stock or cash, as selected by the General Partner, may not become effective until six (6) months from the date the Vested LTIP Units that were converted into Partnership Units became Vested LTIP Units.

• Common Stock Preferred Stock Warrants Debt Securities Guarantees Of Debt Securities Of Sun Communities Operating Limited Partnership Units SUN COMMUNITIES OPERATING LIMITED PARTNERSHIP Debt Securities Guarantees Of Debt Securities Of Sun Communities, Inc.

More Definitions of Partnership Units

Partnership Units means limited partnership interests of the Partnership. The holder has the option of requiring the Company to redeem such interests. The Company may elect to effectuate such redemption by either paying cash or exchanging Company Shares for such interests.

Partnership Units means partnership units of the Operating Partnership.

Partnership Units means the interest in the Operating Partnership of any Partner which entitles a Partner to the allocations (and each item thereof) specified in the Partnership Agreement and all distributions from the Operating Partnership, and its rights of management, consent, approval, or participation, if any, as provided in the Partnership Agreement. Partnership Units do not include Preferred Units. Each Partner's percentage ownership interest in the Operating Partnership shall be determined by dividing the number of Partnership Units then owned by each Partner by the total number of Partnership Units then outstanding.

Partnership Units means the common units and subordinated units representing limited partnership interests of the Partnership.

Partnership Units. Shall have the meaning set forth in the OP Agreement.

Partnership Units means the common units representing limited partner interests in the Partnership having the rights and obligations specified with respect to “Common Units” as set forth in the Existing Partnership Agreement.

Partnership Units means the units of limited partnership interest in the Borrowers or any of their Subsidiaries, as the case may be, issued and outstanding from time to time.