Senior Preferred Unit definition

Senior Preferred Unit means the Series A Preferred Units, the Series 1 Preferred Units and any class or series of Partnership Interests of the Partnership now or hereafter authorized, issued or outstanding expressly designated by the Partnership to rank on parity with the Series A Preferred Units and the Series 1 Preferred Units with respect to distributions and rights upon voluntary or involuntary liquidation, winding up or dissolution of the Partnership, as the context may require.

Senior Preferred Unit means the Series A Preferred Units, the Series B Preferred Units, Series 1 CPOP Units, the Series C Preferred Units and any class or series of Partnership Interests of the Partnership now or hereafter authorized, issued or outstanding expressly designated by the Partnership to rank on parity with the Series A Preferred Units, the Series B Preferred Units, the Series 1 CPOP Units and the Series C Preferred Units with respect to distributions and rights upon voluntary or involuntary liquidation, winding up or dissolution of the Partnership, as the context may require.

Senior Preferred Unit means the Series A Preferred Units, the Series B Preferred Units and any class or series of Partnership Interests of the Partnership now or hereafter authorized, issued or outstanding expressly designated by the Partnership to rank on parity with the Series A Preferred Units and the Series B Preferred Units with respect to distributions and rights upon voluntary or involuntary liquidation, winding up or dissolution of the Partnership, as the context may require.

Examples of Senior Preferred Unit in a sentence

• Each Senior Preferred Unit shall accrue the Senior Preferred Yield for so long as such Senior Preferred Unit is outstanding.

• Each “Senior Preferred Unit” shall represent an interest in the Company, shall be designated as a Senior Preferred Unit of the Company, shall be non-voting, and shall be entitled to the distributions provided for in Article 7.

• Immediately upon a Distribution of the full amount of the Senior Preferred Unreturned Capital, Class A Unreturned Capital or Class B Unreturned Capital in accordance with the terms herein in respect of a Senior Preferred Unit, Class A Preferred Unit or Class B Preferred Unit, respectively, the holder of any such unit shall no longer have any rights hereunder as a holder of such unit.

• The Members acknowledge that it is their intention, at such time as they in good faith agree that it is in the Company’s best interest to do so, and without adversely affecting the Company or its business, to refinance the Company’s and its subsidiaries’ existing senior indebtedness with other senior indebtedness, on customary and reasonable terms, so as to enable the Company to distribute the Second Senior Preferred Units and the Second Senior Preferred Unit Return.

• Each Voting Member shall have the right to one vote per full Series 1 Senior Preferred Unit, Junior Preferred Unit, Series A Common Unit or Series B Common Unit held by it.

More Definitions of Senior Preferred Unit

Senior Preferred Unit means the Series B Preferred Units, the Series 1 CPOP Units, the Series C Preferred Units, the Series 2 CPOP Units, the Series 3 CPOP Units and any class or series of Partnership Interests of the Partnership now or hereafter authorized, issued or outstanding expressly designated by the Partnership to rank on parity with the Series B Preferred Units, the Series 1 CPOP Units, the Series C Preferred Units, the Series 2 CPOP Units or the Series 3 CPOP Units with respect to distributions and rights upon voluntary or involuntary liquidation, winding up or dissolution of the Partnership, as the context may require.

Senior Preferred Unit means a Partnership Interest of a Senior Preferred Limited Partner.

Senior Preferred Unit means a Unit representing a fractional part of the interest of a Unitholder in Profits, Losses and Distributions and having the rights and obligations specified with respect to the Senior Preferred Units in this Agreement.

Senior Preferred Unit means (a) as used in Article 16 with respect to the Series A Preferred Units, Partnership Units representing any class or series of Partnership Interests (which for the avoidance of doubt, excludes any convertible debt securities) now or hereafter issued and outstanding, the terms of which specifically provide that such Partnership Interests by its terms ranks senior to the Series A Preferred Units with respect to payment of distributions and amounts upon voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Partnership and (b) with respect to any other Preferred Units, as defined in the applicable Partnership Unit Designation.

Senior Preferred Unit means a Unit having the rights and obligations specified with respect to Senior Preferred Units in this Agreement. The number of Senior Preferred Units initially issued and assigned to each Member is listed on Schedule A attached hereto, subject to adjustment pursuant to this Agreement.

Senior Preferred Unit means a Senior Preferred Unit issued on the Effective Date having the preferences, rights privileges and other terms set forth in this Amendment.

Senior Preferred Unit means Partnership Units representing any class or series of Partnership Interests (which for the avoidance of doubt, excludes any convertible debt securities) now or hereafter issued and outstanding, the terms of which specifically provide that such Partnership Interests by their terms rank senior to the Series A Preferred Units with respect to payment of distributions and amounts upon liquidation, dissolution or winding up of the affairs of the Partnership.