Preferred Partnership Interests definition

Preferred Partnership Interests means the two classes of preferred limited partnership interests (designated Class A and Class B) owned by the C▇▇▇▇▇▇▇ Partners and Mobil as listed on Schedule A and relating to those Partners’ Preferred Capital Contributions.

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Preferred Partnership Interests or "PPIs" means general partnership interests in the Partnership, the capital contributions for which are set forth in Section 4.1(d) and for which separate Capital Accounts will be maintained and that have the right to convert into Ordinary Partnership Interests as set forth in Article III of Schedule C hereto, the right to distributions set forth in Section 5.5(a) and the right to allocations set forth in Section 5.1(a) and that are subject to redemption under Article II of Schedule C hereto.

Preferred Partnership Interests means the preferred partnership interests in Plum Creek Timberlands, L.P., a Delaware limited partnership, held by Borrower and included in the collateral subject to the Pledge Agreement.

Examples of Preferred Partnership Interests in a sentence

The delivery of a Class B Conversion Notice in accordance with this Section 3.2 shall terminate the right but not the obligation of the Partnership to redeem any Class B Preferred Partnership Interests with respect to which such Class B Conversion Notice has been given.
Directly or indirectly enter into any contracts or other agreements, with any Person, other than this Agreement, the acquisition of the Preferred Partnership Interests and as reasonably related to the ownership of the Preferred Partnership Interests, including the exercise of any rights thereunder.
The Borrower has no Indebtedness and is not subject to any contractual obligations except with respect to its organizational documents, the Preferred Partnership Interests, this Agreement, the Pledge Agreement and the other Loan Documents.
Merge, dissolve, liquidate, consolidate with or into another Person, except that, so long as no Default exists or would result therefrom, the Borrower may merge or consolidate with the Guarantor; provided that the Guarantor assumes the obligations of Borrower under this Agreement and confirms that it holds the Preferred Partnership Interests subject to the security interest granted pursuant to the Pledge Agreement.
Acquire any assets or property, other than additional Preferred Partnership Interests or any property or assets received by the Borrower as a distribution on the Preferred Partnership Interests.
Notwithstanding the foregoing in this Section 5.08, the Borrower shall not be required to fund the Reserve Account other than out of and to the extent of excess cash flow received on the Preferred Partnership Interests.
The Preferred Partnership Interests are not subject to any Liens other than the Lien created pursuant to the Pledge Agreement.
On October 27, 2008 --------------------------------------- (the "Class A Redemption Date"), the Partnership shall redeem the Class A Preferred Partnership Interests by distributing to the Partners holding such interests amounts equal to the Unrecovered Capital with respect thereto and any unpaid and accrued Class A Preferred Return (including the Contributed Preferred Return) with respect thereto through the date of redemption.
Make any Disposition of the Preferred Partnership Interests or enter into any agreement to make any Disposition of the Preferred Partnership Interests, except in connection with a transaction permitted under Section 6.03.
The Borrower owns no real or personal property except the Preferred Partnership Interests.

More Definitions of Preferred Partnership Interests

Preferred Partnership Interests shall have the meaning assigned thereto in Section 1(r).

Preferred Partnership Interests means the partnership ------------------------------- interests owned by the Partners listed on Schedule A in respect of their ---------- Preferred Capital Contributions.

Preferred Partnership Interests means the 8% Convertible Redeemable Preferred Partnership Interests of Globalstar purchased by the Company with the proceeds of the issuance of the Series A Preferred Shares.

Preferred Partnership Interests shall have the meaning ascribed to such term in the Globalstar Partnership Agreement.