Examples of Series 1 Preferred Units in a sentence
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.
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.
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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.
After such conversion, the transfer agent of the converted Series 1 Preferred Units will be the Transfer Agent of the Class A Common 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.
Distributions will be payable on Series 1 Preferred Units outstanding at the close of business on the applicable Series 1 Distribution Record Date.
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.
No sinking fund shall be established for the retirement or redemption of Series 1 Preferred Units.
Each distribution is payable to holders of record of outstanding Series 1 Preferred Units as of the applicable Series 1 Distribution Record Date or date of redemption of such Series 1 Preferred Unit, as applicable.