Preferred Partnership Interest definition

Preferred Partnership Interest means an ownership interest in the Partnership evidenced by a designated series of Preferred Partnership Units, having a preference in payment of distributions or on liquidation as determined by the General Partner for such series of Preferred Partnership Units and as set forth in an amendment to this Agreement, and includes all benefits to which the holder of such an ownership interest may be entitled as provided in this Agreement or the Act, together with all obligations of such Person to comply with the terms and provisions of this Agreement and the Act.
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Preferred Partnership Interest means an ownership interest in the Partnership, having a preference in payment of distributions or on liquidation, and includes any and all benefits to which the holder of such an ownership interest may be entitled as provided in this Agreement or the Act, together with all obligations of such Person to comply with the terms and provisions of this Agreement and the Act.
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Preferred Partnership Interest means an ownership interest in the Partnership evidenced by
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Examples of Preferred Partnership Interest in a sentence

  • Upon redemption of any Class A Preferred Partnership interest in accordance with this Section 5.4.1 such Class A Preferred Partnership Interest shall be deemed canceled.

  • Upon redemption of any Class B Preferred Partnership Interest in accordance with this Section 5.4.2, such Class B Preferred Partnership Interest shall be deemed canceled.

  • The Denominator is the sum of the Partnership Interest Liquidation Values for all Partnership Interests (other than any Class A Preferred Partnership Interest remaining outstanding).

  • The Numerator of the Rockpoint Class B Preferred Holder (if it makes the Conversion Election) is the Partnership Interest Liquidation Value of the Class B Preferred Partnership Interest owned by the Rockpoint Class B Preferred Holder, or, if greater, the Rockpoint Class B Preferred Holder’s Capital Contributions plus the Rockpoint Class B Preferred Holder’s Distribution Make-Whole with respect thereto.

  • It is acknowledged and agreed that each Preferred Interest will be pledged to the purchaser of the related series of Preferred Shares pursuant to a Collateral Assignment of Preferred Partnership Interest (the "Collateral Assignment") for the purpose of securing certain obligations of the Trust under the SPA.

  • It is acknowledged and agreed that the Series C Preferred Interest will be pledged to the purchaser of the Series C Preferred Shares pursuant to a Collateral Assignment of Preferred Partnership Interest (the "Collateral Assignment") for the purpose of securing certain obligations of the Trust under the SPA.

  • In addition, any Minimum Tax Distributions for a current Fiscal Year shall be reduced by any other distributions made to a Partner with respect to its Common Partnership Interest but shall not be reduced for distributions, if any, made with respect to a Partner's Preferred Partnership Interest.

  • This series of preferred partnership interest shall be designated as the 8.90% Series C Preferred Partnership Interest (the "Series C Preferred Units") and the number of units of 8.90% Series C Preferred Partnership Interest which shall initially constitute such series shall be 48,949 units.

  • This series of preferred partnership interest shall be designated as the 8.29% Series B Preferred Partnership Interest (the "Series B Preferred Units") and the number of units of 8.29% Series B Preferred Partnership Interest which shall initially constitute such series shall be 10,169 units.

  • To the extent that any Notes are converted into Common Shares as provided in the Indenture, one Convertible Preferred Partnership Interest shall be automatically converted into a Partnership Interest having the economic equivalence of the number of Common Shares into which such Notes are converted (after giving effect to any adjustments to the conversion rate applicable to the Notes under the Indenture), and the Capital Account of TCT shall be reduced accordingly.

Related to Preferred Partnership Interest

  • Partnership Interest means an ownership interest in the Partnership held by either a Limited Partner or the General Partner and includes any and all benefits to which the holder of such a Partnership Interest may be entitled as provided in this Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement.

  • Limited Partner Interest means a Partnership Interest of a Limited Partner in the Partnership representing a fractional part of the Partnership Interests of all Partners and includes any and all benefits to which the holder of such a Partnership Interest may be entitled, as provided in this Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement. A Limited Partner Interest may be expressed as a number of Partnership Units (other than GP Units).

  • General Partner Interest means the ownership interest of the General Partner in the Partnership (in its capacity as a general partner) and includes any and all benefits to which the General Partner is entitled as provided in this Agreement, together with all obligations of the General Partner to comply with the terms and provisions of this Agreement.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Preferred Unit means a fractional share of the Partnership Interests that the General Partner has authorized pursuant to Sections 4.01, 4.03 or 4.04 hereof that has distribution rights, or rights upon liquidation, winding up and dissolution, that are superior or prior to the OP Units.