PIK Units definition

PIK Units means additional Series A Preferred Units issued by the Partnership to the Purchasers as in-kind distributions pursuant to the terms of the Partnership Agreement.

PIK Units means a Class A Convertible Preferred Unit issued pursuant to a Class A Convertible Preferred Unit distribution, as contemplated by the applicable terms of the Term Sheet.

PIK Units means any additional Series A Preferred Units issued by the Partnership to the holders of Series A Preferred Units pursuant to Section 5.12(b)(i)(A) of the Partnership Agreement.

Examples of PIK Units in a sentence

• On the Series A PIK Payment Date, the Partnership shall have the option to (i) issue to such Series A Preferred Unitholder a certificate or certificates for the number of Series A PIK Units to which such Series A Preferred Unitholder shall be entitled, or (ii) cause the Transfer Agent to make a notation in book entry form in the books of the Partnership.

• The Series A Preferred Units (other than the Series A PIK Units) shall be issued by the Partnership pursuant to the terms and conditions of the Series A Purchase Agreement (as to the Series A Purchase Agreement Purchasers) and pursuant to such terms and conditions the Partnership in its sole discretion determines (with respect to any Series A Purchaser who subsequently purchases any Series A Preferred Units issued in accordance with Section 5.8(b)(iv)).

• Subject to Section 5.12(b)(vi)(E), the Partnership may, without any vote of the holders of Outstanding Series A Preferred Units, issue the Series A PIK Units contemplated by this Agreement or create (by reclassification or otherwise) and issue Series A Junior Securities in an unlimited amount.

• With respect to any Quarter (or portion thereof for which a Series A Quarterly Distribution is due) ending on or before the end of the Initial Distribution Period for a Series A Preferred Unit, such Series A Quarterly Distribution shall be paid, as determined by the Board of Directors, in its sole discretion, in Series A PIK Units or in cash, or in a combination of Series A PIK Units and cash.

• The Series A Preferred Units (other than the Series A PIK Units) shall be issued by the Partnership on the date hereof pursuant to the terms and conditions of the Series A Purchase Agreement.

More Definitions of PIK Units

PIK Units has the meaning set forth in Section 6.01(a).

PIK Units means any additional Series A Preferred Units issued by the Partnership to the Purchasers as in-kind distributions pursuant to the Second A&R LPA.

PIK Units means any additional Class B Common Units issued by the Partnership to UGI as in-kind distributions pursuant to the Partnership Agreement Amendment.

PIK Units has the meaning specified therefor in Article I of the Amended Partnership Agreement.

PIK Units means any additional Series B Preferred Units issued by the Partnership to the holders of Series B Preferred Units pursuant to paragraph 6(a) of the Supplement Terms Annex.

PIK Units has the meaning set forth in the Purchase Agreement.

PIK Units means the 2016 Preferred Units issued as in-kind distributions.