Series 13 Preferred Units definition

Series 13 Preferred Units has the meaning ascribed thereto in Section 11.1(g) hereof;

Series 13 Preferred Units has the meaning given to such term in the preamble to this Part XIV of Schedule A.

Examples of Series 13 Preferred Units in a sentence

• The holders of the Series 13 Preferred Units are entitled to receive a cumulative quarterly fixed distribution yielding 5.0% for the initial period ending April 30, 2023.

• Thereafter, the distribution rate will be reset every five years at a rate equal to the greater of: (i) the 5-year Government of Canada bond yield plus 3.00%, and (ii) 5.00%.The holders of Series 13 Preferred Units will have the right, at their option, to convert their Series 13 Preferred Units into Class A Preferred Limited Partnership Units, Series 14 (the “Series 14 Preferred Units”), subject to certain conditions, on April 30, 2023 and on April 30 every five years thereafter.

• Net proceeds of the issuance will be used to finance or refinance eligible green projects following criteria outlined by the International Capital Markets Association.On September 21, 2020, our partnership issued 8 million Series 13 Preferred Units, at $25 per unit, with a quarterly fixed distribution of 5.125% annually.

• The aggregate Series 13 Redemption Price for any such partial redemption of the Outstanding Series 13 Preferred Units shall be allocated correspondingly among the redeemed Series 13 Preferred Units.

• The Partnership shall give notice of any redemption by mail, postage prepaid, not less than 30 days and not more than 60 days before the scheduled Series 13 Redemption Date to the Series 13 Holders (as of 5:00 p.m. New York City time on the Business Day next preceding the day on which notice is given) of any Series 13 Preferred Units to be redeemed as such Series 13 Holders’ names appear on the books of the Series 13 Transfer Agent and at the address of such Series 13 Holders shown therein.

• If at any such meeting the holders of Series 13 Preferred Units of at least 25% of the then Outstanding Series 13 Preferred Units are not present or represented by proxy within one-half hour after the time appointed for such meeting, then the meeting shall be adjourned to such date not less than five (5) days thereafter and to such time and place as may be designated by the chairman of such meeting.

• Any variation or exchange of the Series 13 Preferred Units described above shall be made after notice is given to the Series 13 Holders not less than 30 days nor more than 60 days prior to the date fixed for variation or exchange, as applicable.

• Any Series 13 Preferred Units that are redeemed or otherwise acquired by the Partnership shall be cancelled.

• The Series 13 Preferred Units represent perpetual interests in the Partnership and shall not give rise to a claim by the Partnership or a Series 13 Holder for conversion or, except as set forth in Section 2(B)(d) to this Part XIV of Schedule A, redemption thereof at a particular date.

• So long as the Depositary shall have been appointed and is serving with respect to the Series 13 Preferred Units, payments and communications made by the Partnership to Series 13 Holders shall be made by making payments to, and communicating with, the Depositary.