Examples of Series 17 Preferred Units in a sentence
The holders of the Series 17 Preferred Units are entitled to receive a cumulative quarterly fixed distribution yielding 5.25%.
The Series 17 Preferred Units represent perpetual interests in the Partnership and shall not give rise to a claim by the Partnership or a Series 17 Holder for conversion or, except as set forth in Section 2(B)(d) to this Part XIII of Schedule A, redemption thereof at a particular date.
The authorized number of Series 17 Preferred Units shall be unlimited.
Series 17 Preferred Units that are purchased or otherwise acquired by the Partnership shall be cancelled.
If on any Series 17 Distribution Payment Date, the Series 17 Distributions accrued to such date are not paid in full on all of the Series 17 Preferred Units then Outstanding, such Series 17 Distributions, or the unpaid part thereof, shall be paid on a subsequent date or dates determined by the General Partner on which the Partnership shall have sufficient monies legally available for such Series 17 Distributions under Bermuda law.
If at any such meeting the holders of Series 17 Preferred Units of at least 25% of the then Outstanding Series 17 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.
The Series 17 Preferred Units not redeemed shall remain Outstanding and entitled to all the rights, preferences and duties provided in this Section 2 to this Part XIII of Schedule A.
The Partnership shall give notice of any redemption by mail, postage prepaid, not less than 25 days and not more than 60 days before the scheduled Series 17 Redemption Date to the Series 17 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 17 Preferred Units to be redeemed as such Series 17 Holders’ names appear on the books of the Series 17 Transfer Agent and at the address of such Series 17 Holders shown therein.
If less than all of the then Outstanding Series 17 Preferred Units are at any time to be redeemed, then the particular Series 17 Preferred Units to be redeemed shall be selected on a pro rata basis disregarding fractions or in such manner as the General Partner in its sole discretion may, by resolution determine.
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