Series 1 Preferred Units definition

Series 1 Preferred Units means the Partnership’s Series 1 Cumulative Redeemable Preferred Units, with the rights, priorities and preferences set forth herein.

Series 1 Preferred Units has the meaning given to such term in the preamble to this Part II of Schedule A.

Series 1 Preferred Units means EEP’s Series 1 Preferred Units.

Examples of Series 1 Preferred Units in a sentence

• After such conversion, the transfer agent of the converted Series 1 Preferred Units will be the Transfer Agent of the Class A Common Units.

• Prior to the conversion of the Series 1 Preferred Units into Class A Common Units in accordance with Section 4.13(c), the General Partner will act as transfer agent and registrar of the Series 1 Preferred Units.

• The Series 1 Preferred Units shall be issued by the Partnership pursuant to the terms and conditions of the Series 1 Preferred Unit Purchase Agreement.

• The Series 1 Preferred Units shall not have the benefit of any sinking fund.

• The Capital Account balance of each holder of Series 1 Preferred Units in respect of its Series 1 Preferred Units shall not be increased or decreased except as otherwise provided in this Agreement.

• The Series 1 Preferred Units will not be represented by Certificates except as provided in Sections 4.11(c) and 10.1(c).

• Immediately following the Series 1 Preferred Unit Issuance Date and thereafter no additional Series 1 Preferred Units, Parity Securities or Senior Securities shall be designated, created or issued without the prior written approval of the General Partner and the holders of a majority of the Outstanding Series 1 Preferred Units.

• Except insofar as distributions accrue on the amount of any accumulated and unpaid Series 1 Distributions as described in Section 2(B)(b)(i), no interest or sum of money in lieu of interest shall be payable in respect of any distribution payment which may be in Arrears on the Series 1 Preferred Units.

• Series 1 Preferred Units that are purchased or otherwise acquired by the Partnership shall be cancelled.

• We allocate our net income among our Series 1 Preferred Units, or Preferred Units, our General Partner interest and our limited partner units using the two-class method in accordance with applicable authoritative accounting guidance.

More Definitions of Series 1 Preferred Units

Series 1 Preferred Units shall have the meaning set forth in the Amended and Restated OP Agreement.

Series 1 Preferred Units means the Class A Preferred Limited Partnership Units, Series 1, in the capital of PVI LP;

Series 1 Preferred Units has the meaning assigned to such term in the recitals to this Agreement.

Series 1 Preferred Units has the meaning given to such term in Section 1.1(a).