Preferred Partnership Interest definition

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 held by the General Partner and includes any and all benefits to which the holder of such a Preferred 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.
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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 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 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.

  • 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.

  • 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.

  • 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).

  • 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.

  • 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.

  • The Xxxxxxxxx Partner may at ---------------------------- any time before the fifth anniversary date of the Effective Date of the Partnership (the "Conversion Date") elect to convert its Preferred Partnership Interest to a Common Partnership Interest representing a 2 percent Common Sharing Percentage as of the Effective Date of the Partnership (the "Xxxxxxxxx Conversion").

Related to Preferred Partnership Interest

  • Limited Partnership Interest means the ownership interest of a Limited Partner in the Partnership at any particular time, including the right of such Limited Partner to any and all benefits to which such Limited Partner may be entitled as provided in this Agreement and in the Act, together with the obligations of such Limited Partner to comply with all the provisions of this Agreement and of the Act.

  • General Partnership Interest means a Partnership Interest held by the General Partner that is a general partnership interest.

  • Partnership Interest means an interest in the Partnership, which shall include the General Partner Interest and Limited Partner Interests.

  • Pledged Partnership Interests means all interests in any general partnership, limited partnership, limited liability partnership or other partnership including, without limitation, all partnership interests listed on Schedule 4.4(A) under the heading “Pledged Partnership Interests” (as such schedule may be amended or supplemented from time to time) and the certificates, if any, representing such partnership interests and any interest of such Grantor on the books and records of such partnership or on the books and records of any securities intermediary pertaining to such interest and all dividends, distributions, cash, warrants, rights, options, instruments, securities and other property or proceeds from time to time received, receivable or otherwise distributed in respect of or in exchange for any or all of such partnership interests.

  • Class B Membership Interest means a Class B Membership Interest in Holdings.

  • Derivative Partnership Interests means any options, rights, warrants, appreciation rights, tracking, profit and phantom interests and other derivative securities relating to, convertible into or exchangeable for Partnership Interests.

  • Class A Membership Interest means a Class A Membership Interest in Holdings.

  • Partnership Interests shall have the meaning specified in Section 6.3 [Subsidiaries].

  • Deemed Partnership Interest Value means, as of any date with respect to any class of Partnership Interests, the Deemed Value of the Partnership Interests of such class multiplied by the applicable Partner's Percentage Interest of such class.

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

  • Preferred Interests means, with respect to any Person, Equity Interests issued by such Person that are entitled to a preference or priority over any other Equity Interests issued by such Person upon any distribution of such Person’s property and assets, whether by dividend or upon liquidation.

  • Limited Partner Interest means a Partnership Interest of a Limited Partner in the Partnership representing a fractional part of the Partnership Interests of all Limited 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 Common Units, Partnership Preferred Units or other Partnership Units.

  • General Partner Interest means a Partnership Interest held by the General Partner, in its capacity as general partner. A General Partner Interest may be expressed as a number of Partnership Units.

  • Membership Interests has the meaning set forth in the recitals.

  • Membership Interest means a Member’s entire interest in the Company including such Member’s right to receive allocations and distributions pursuant to this Agreement and the right to participate in the management of the business and affairs of the Company in accordance with this Agreement, including the right to vote on, consent to, or otherwise participate in any decision or action of or by the Members granted pursuant to this Agreement.

  • Preferred Units means a Partnership Interest, including the Series A Preferred Units, designated as a “Preferred Unit,” which entitles the holder thereof to a preference with respect to distributions, or as to the distribution of assets upon any Liquidation Event, over Common Units.

  • Special Limited Partner Interest means the interest of the Special Limited Partner in the Partnership representing its right as the holder of an interest in distributions described in Sections 5.1(b)(iii)(A), (c), (d) and (e) (and any corresponding allocations of income, gain, loss and deduction under this Agreement).

  • Partnership Unit Designation shall have the meaning set forth in Section 4.2.A hereof.

  • Class B Interests As set forth in the Trust 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.

  • Class B Limited Partner means any Person executing (by power of attorney or otherwise) this Agreement as of the date hereof as a Class B Limited Partner or hereafter admitted to the Partnership as a Class B Limited Partner as herein provided, but shall not include any Person who has ceased to be a Class B Limited Partner in the Partnership.

  • Class A LP Units means the Class A limited partnership units of the Partnership.

  • Economic Interest means a Person’s right to share in the income, gains, losses, deductions, credits, or similar items of the Company, and to receive Distributions from the Company, but excluding any other rights of a Member, including the right to vote or to participate in management, or, except as may be provided in the Act, any right to information concerning the business and affairs of the Company.

  • Company Interest means the interest of a Member in Profits, Losses and Distributions.

  • Preferred Unit means a fractional, undivided share of the Partnership Interests that has distribution rights, or rights upon liquidation, winding up and dissolution, that are superior or prior to the Common Units that the General Partner has authorized pursuant to Section 4.2 hereof.

  • Class B Interest Each of the Class B-1 and Class B-2 Interests.