Series 16 Preferred Units definition

Series 16 Preferred Units has the meaning ascribed thereto in Section 11.1(g) hereof;

Series 16 Preferred Units has the meaning given to such term in the preamble to this Part XVII of Schedule A.

Examples of Series 16 Preferred Units in a sentence

• The Series 16 Preferred Units not redeemed shall remain Outstanding and entitled to all the rights, preferences and duties provided in this Section 2 to this Part XVII of Schedule A.

• The Series 16 Preferred Units shall not have the benefit of any sinking fund.

• Series 16 Preferred Units that are purchased or otherwise acquired by the Partnership shall be cancelled.

• The Series 16 Preferred Units may be issued in whole or in fractional units.

• The Series 16 Preferred Units and the Series 16 Holders shall not have any designations, preferences, rights, powers, guarantees or duties, other than as set forth in this Agreement or as provided by applicable law.

• The aggregate Series 16 Redemption Price for any such partial redemption of the Outstanding Series 16 Preferred Units shall be allocated correspondingly among the redeemed Series 16 Preferred Units.

• Except insofar as distributions accrue on the amount of any accrued and unpaid Series 16 Distributions as described in Section 2(C)(b)(i) to this Part XVII of Schedule A, 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 16 Preferred Units.

• If at any such meeting the holders of Series 16 Preferred Units of at least 25% of the then Outstanding Series 16 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.

• Notwithstanding any Series 16 Redemption Notice, there shall be no redemption of any Series 16 Preferred Units called for redemption until funds sufficient to pay the full Series 16 Redemption Price of such Series 16 Preferred Units shall have been deposited by the Partnership with the Paying Agent.

• So long as the Series 16 Preferred Units are held of record by the Depositary or its nominee, declared Series 16 Distributions shall be paid to the Depositary in same-day funds on each Series 16 Distribution Payment Date or other distribution payment date in the case of payments for Series 16 Distributions in Arrears.