Preferred Unit definition

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.

Preferred Unit means a Partnership Preferred Unit with the designations, preferences and relative, participating, optional or other special rights, powers and duties as are set forth in this Partnership Unit Designation.

Preferred Unit means a Unit representing a fractional part of the Membership Interests of all Members and having the preference rights and other rights and obligations specified with respect to Preferred Units in this Agreement.

Examples of Preferred Unit in a sentence

• Each Series A Preferred Unit shall be identical in all respects to every other Series A Preferred Unit, except as to the respective dates from which the Series A Liquidation Preference shall increase or from which Series A Distributions may begin accruing, to the extent such dates may differ.

• Each Series B Preferred Unit shall be identical in all respects to every other Series B Preferred Unit, except as to the respective dates from which the Series B Liquidation Preference shall increase or from which Series B Distributions may begin accruing, to the extent such dates may differ.

• Accrued but unpaid distributions on the Series A Preferred Units will accumulate as of the Series A Preferred Unit Distribution Payment Date on which they first become payable.

• Each Series A Preferred Unit shall be identical in all respects to every other Series A Preferred Unit.

• With respect to the exercise of the above described voting rights, each Preferred Unit will have one (1) vote per Preferred Unit.

More Definitions of Preferred Unit

Preferred Unit means the limited partner interests in the Partnership having the rights and obligations specified in this Agreement and that are designated as Preferred Units from time to time, with the specific terms of each class of Preferred Units to be set out in a Schedule to this Agreement, including the Class A Preferred Limited Partnership Units the terms of which are set out in Schedule A to this Agreement;

Preferred Unit means a Unit designated as a “Preferred Unit,” which entitles the holder thereof to a preference with respect to the payment of distributions over Common Units as set forth in Article XVI.

Preferred Unit means a Partnership Unit representing a Partnership Interest, with such rights, priorities and preferences as shall be designated by the General Partner pursuant to Section 4.3.C hereof, including without limitation, the Series J Preferred Units, the Series K Preferred Units, the Series L Preferred Units, the Series M Preferred Units, the Series O Preferred Units and the Series P Preferred Units.

Preferred Unit means a Limited Partnership Interest (of any series), other than a Common Unit or LTIP Unit, represented by a fractional, undivided share of the Partnership Interests of all Partners issued hereunder and which is designated as a “Preferred Unit” (or as a particular class or series of Preferred Units) herein and which has the rights, preferences and other privileges designated herein (including by way of a Certificate of Designations). The allocation of Preferred Units among the Partners shall be set forth on Exhibit A, as may be amended or restated from time to time.

Preferred Unit means a unit representing a limited partner interest in the Partnership and designated in the Register as a “Preferred Unit” held by a Preferred Unit Holder as subdivided, reclassified or otherwise modified from time to time in accordance with this Agreement.

Preferred Unit means a Series A Preferred Unit and any other -------------- Partnership Unit representing a Limited Partnership Interest, with such rights, priorities and preferences as shall be designated by the General Partner pursuant to Section 4.5.D other than Common Units.

Preferred Unit means a fractional, undivided share of the Partnership Interests that the General Partner has authorized pursuant to Section 4.1 or Section 4.2 or Section 4.3 hereof that has distribution rights, or rights upon liquidation, winding up and dissolution, that are superior or prior to the Common Units. Preferred Units shall include, but not be limited to, Series A Preferred Units and Series B Preferred Units.