Senior Subordinated Series C Unit definition

Senior Subordinated Series C Unit means a Unit representing a fractional part of the Partnership Interests of all Limited Partners and Assignees and having the rights and obligations specified with respect to Senior Subordinated Series C Units in this Agreement. The term “Senior Subordinated Series C Unit” as used herein does not include a Common Unit, a Parity Unit, a Subordinated Unit, Senior Subordinated Unit or a Senior Subordinated Series B Unit. A Senior Subordinated Series C Unit shall not constitute a Common Unit or Parity Unit until it converts into a Common Unit.
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Senior Subordinated Series C Unit as used herein does not include a Common Unit, a Parity Unit, a Subordinated Unit, Senior Subordinated Unit or a Senior Subordinated Series B Unit. A Senior Subordinated Series C Unit shall not constitute a Common Unit or Parity Unit until it converts into a Common Unit.
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Senior Subordinated Series C Unit means a Unit representing a fractional part of the Partnership Interests of all Limited Partners and Assignees and having the rights and obligations specified with respect to Senior Subordinated Series C Units in this Agreement. The term “Senior Subordinated Series C Unit” as used herein does not include a Common Unit, a Parity Unit, a Subordinated Unit, a Senior Subordinated Unit, or a Senior Subordinated Series D Unit. A Senior Subordinated Series C Unit shall not constitute a Common Unit or Parity Unit until it converts into a Common Unit. For the avoidance of doubt, a Senior Subordinated Series C Unit shall not be considered senior or equal in right of distribution to a Subordinated Unit for the purposes of clause (a) of the definition of Subordination Period and the second sentence of Section 5.10 until such time as the Senior Subordinated Series C Unit is entitled by its terms to receive distributions of Available Cash from Operating Surplus.
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Examples of Senior Subordinated Series C Unit in a sentence

  • The initial Capital Account balance in respect of each Senior Subordinated Series C Unit shall be the Issue Price for such Senior Subordinated Series C Unit, and the initial Capital Account balance of each holder of Senior Subordinated Series C Units in respect of all Senior Subordinated Series C Units held shall be the product of such initial balance for a Senior Subordinated Series C Unit multiplied by the number of Senior Subordinated Series C Units held thereby.

  • Thereafter, all Available Cash shall be distributed as if it were Operating Surplus and shall be distributed in accordance with Section 6.4. For purposes of applying this Section 6.5, each Senior Subordinated Unit, each Senior Subordinated Series B Unit and each Senior Subordinated Series C Unit then Outstanding shall be treated as if it had converted into a Common Unit.

  • The pattern of drainage, infrastructure connectivity, and the locations of specific features could change.

  • A Senior Subordinated Series C Unit that has converted into a Common Unit shall be subject to the provisions of Section 6.9(c).

  • The Senior Subordinated Series C Units will automatically convert into Common Units on the first date on or after February 16, 2008 that conversion is permitted by the Partnership’s Fifth Amended and Restated Agreement of Limited Partnership at a ratio of one Common Unit for each Senior Subordinated Series C Unit.

  • A Senior Subordinated Series C Unit that has converted into a Common Unit shall be subject to the provisions of Section 6.8(c).

  • If the Senior Subordinated Series C Unit Price is less than $28.06, then the number of Purchased Units allocated to each Purchaser shall be adjusted to be equal to the Allocated Purchase Price of such Purchaser divided by the Senior Subordinated Series C Purchase Unit Price, rounded to the nearest whole number.

  • Capitalized terms used but not defined herein have the meanings assigned to such terms in the Senior Subordinated Series C Unit Purchase Agreement (the “Purchase Agreement”).

  • A Senior Subordinated Series C Unit that has converted into a Common Unit shall be subject to the provisions of Section 6.9(c).1 1 Appropriate provisions shall be made in this Fifth Amended and Restated Agreement of Limited Partnership such that all outstanding Senior Subordinated Series C Units will convert to Common Units on February 16, 2008 only if such conversion is permitted by Section 5.7 hereof.


More Definitions of Senior Subordinated Series C Unit

Senior Subordinated Series C Unit as used herein does not include a Common Unit, a Parity Unit, a Subordinated Unit, a Senior Subordinated Unit, or a Senior Subordinated Series D Unit. A Senior Subordinated Series C Unit shall not constitute a Common Unit or Parity Unit until it converts into a Common Unit. For the avoidance of doubt, a Senior Subordinated Series C Unit shall not be considered senior or equal in right of distribution to a Subordinated Unit for the purposes of clause (a) of the definition of Subordination Period and the second sentence of Section 5.10 until such time as the Senior Subordinated Series C Unit is entitled by its terms to receive distributions of Available Cash from Operating Surplus.
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Related to Senior Subordinated Series C Unit

  • Junior Subordinated Notes means the $__________ aggregate principal amount of the Depositor's Series __ ____% Junior Subordinated Notes due ____ __, ____, issued pursuant to the Subordinated Indenture.

  • Senior Subordinated Notes means the Company's 10 1/2% Senior Subordinated Notes due 2009 issued pursuant to the Senior Subordinated Notes Indenture.

  • Junior Subordinated Debentures means the aggregate principal amount of the Depositor's ____% Junior Subordinated Deferrable Interest Debentures, due ________ __, 2027, issued pursuant to the Indenture.

  • Senior Subordinated Debt means the Securities and any other Indebtedness of the Company that specifically provides that it is to rank pari passu with other Senior Subordinated Debt of the Company and is not subordinated to any Indebtedness of the Company that is not Senior Debt.

  • Existing Senior Subordinated Notes means the 10.875% Senior Subordinated Notes Due 2009 issued by the Company pursuant to the Existing Senior Subordinated Note Indenture.

  • Junior Subordinated Debt means (a) subordinated junior deferrable interest debentures of the Borrower, (b) the related preferred securities, if applicable, of Subsidiaries of the Borrower and (c) the related subordinated guarantees, if applicable, of the Borrower, in each case, from time to time outstanding.

  • Senior Subordinated Note Indenture means the Indenture dated as of May 12, 2009, between the Company and U.S. Bank National Association, as trustee, in respect of the 2020 Senior Subordinated Notes and the 2023 Senior Subordinated Notes, as supplemented and amended from time to time.

  • Senior Subordinated Indenture means the Indenture dated as of October 15, 1997 between the Company and State Street Bank and Trust Company, as trustee, as from time to time amended, restated, supplemented or otherwise modified.

  • Senior Subordinated Indebtedness means the Securities and any other Indebtedness of the Company that specifically provides that such Indebtedness is to rank pari passu with the Securities in right of payment and is not subordinated by its terms in right of payment to any Indebtedness or other obligation of the Company which is not Senior Indebtedness.

  • Senior Subordinated Note Documents means the Senior Subordinated Notes, the Senior Subordinated Note Agreement, the Senior Subordinated Note Guarantees and all other documents executed and delivered with respect to the Senior Subordinated Notes or the Senior Subordinated Note Agreement.

  • Junior Subordinated Indebtedness means the principal of (and premium, if any) and unpaid interest on (a) indebtedness of the Company (including indebtedness of others guaranteed by the Company), whether outstanding on the date hereof or thereafter created, incurred, assumed or guaranteed, for money borrowed, which in the instrument creating or evidencing the same or pursuant to which the same is outstanding it is provided that such indebtedness ranks junior in right of payment to the Company’s Senior Indebtedness and Senior Subordinated Indebtedness and equally and pari passu in right of payment to any other Junior Subordinated Indebtedness, (b) Junior Subordinated Securities, and (c) renewals, extensions, modifications and refinancings of any such indebtedness.

  • Junior Subordinated Payment has the meaning specified in Section 13.2.

  • Final Subordinated Units has the meaning assigned to such term in Section 6.1(d)(x).

  • 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.

  • Eligible Subordinated Debt means, at any time in respect of any issuer, each series of the issuer’s then-outstanding long-term indebtedness for money borrowed that (a) upon a bankruptcy, liquidation, dissolution or winding up of the issuer, ranks subordinate to the issuer’s then outstanding series of indebtedness for money borrowed that ranks most senior, (b) is then assigned a rating by at least one NRSRO (provided that this clause (b) shall apply on a Redesignation Date only if on such date the issuer has outstanding subordinated long-term indebtedness for money borrowed that satisfies the requirements in clauses (a), (c) and (d) that is then assigned a rating by at least one NRSRO), (c) has an outstanding principal amount of not less than $100,000,000, and (d) was issued through or with the assistance of a commercial or investment banking firm or firms acting as underwriters, initial purchasers or placement or distribution agents. For purposes of this definition as applied to securities with a CUSIP number, each issuance of long-term indebtedness for money borrowed that has (or, if such indebtedness is held by a trust or other intermediate entity established directly or indirectly by the issuer, the securities of such intermediate entity that have) a separate CUSIP number shall be deemed to be a series of the issuer’s long-term indebtedness for money borrowed that is separate from each other series of such indebtedness.

  • Senior Subordinate Certificates The Class B1, Class B2 and Class B3 Certificates.

  • Junior Subordinate Certificates The Class B-4, Class B-5 and Class B-6 Certificates.

  • Existing Subordinated Notes means any instrument or loan issued or incurred before 1 January 2013, whether publicly or privately placed, ranking or expressed to be ranking pari passu with all other subordinated obligations (except for those subordinated obligations expressed by their terms to rank junior), provided that should any such Existing Subordinated Notes be amended in any way (contractually or by statute) which would result in allowing the Issuer to issue subordinated notes ranking senior thereto, then such Subordinated Notes would be deemed to no longer constitute an Existing Subordinated Note. As a result, in the event of liquidation or bankruptcy of the Issuer or in the event of a Moratorium (as defined in Condition 3 of the Conditions of the Notes) with respect to the Issuer, the claims of the holders of the Subordinated Notes ("Subordinated Noteholders") against the Issuer will be:

  • Convertible Subordinated Notes means any convertible subordinated notes or debentures issued by the Borrower after the date hereof, which are subordinated to the Obligations on terms no less favorable to the Lenders, in any material respect, than the 4.75% Convertible Subordinated Notes Due 2016 (as those terms were in effect and applied to the 4.75% Convertible Subordinated Notes Due 2016 prior to the repayment thereof in full on June 15, 2016).

  • 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.

  • Available Subordinated Amount if there is a Subordinate Class with respect to Class A, shall mean, on a Distribution Date, the sum of

  • Series A Junior Securities means any class or series of Partnership Interests that, with respect to distributions on such Partnership Interests and distributions upon liquidation of the Partnership, ranks junior to the Series A Preferred Units, including Common Units and Non-Voting Common Units, but excluding any Series A Parity Securities and Series A Senior Securities.

  • Senior Subordinated Notes Indenture means the Indenture, dated as of July 17, 2012, under which the Senior Subordinated Notes were issued, among the Borrower and the Restricted Subsidiaries party thereto and the trustee named therein from time to time, as in effect on the Closing Date and as amended, restated, supplemented or otherwise modified from time to time in accordance with the requirements thereof and of this Agreement.

  • Subordinated Unit means a Limited Partner Interest having the rights and obligations specified with respect to Subordinated Units in this Agreement. The term “Subordinated Unit” does not include a Common Unit. A Subordinated Unit that is convertible into a Common Unit shall not constitute a Common Unit until such conversion occurs.

  • Guarantor Subordinated Obligations means, with respect to a Subsidiary Guarantor, any Indebtedness of such Subsidiary Guarantor (whether outstanding on the Issue Date or thereafter Incurred) that is expressly subordinated in right of payment to the obligations of such Subsidiary Guarantor under its Subsidiary Guarantee pursuant to a written agreement.

  • Excess Subordinated Amount With respect to any Distribution Date, the excess, if any, of (a) the Subordinated Amount on such Distribution Date over (b) the Specified Subordinated Amount for such Distribution Date.