Series A Convertible Preferred Units definition

Series A Convertible Preferred Units means, as of any date, the Series A Convertible Preferred Units designated as such in accordance with this Agreement and which are convertible into Common Units. The number of Series A Convertible Preferred Units held by each Series A Convertible Preferred Member as of any date is set forth on Exhibit A (as amended from time to time in accordance with the terms hereof) as in effect on such date.

Series A Convertible Preferred Units has the meaning set forth in the Operating Agreement.

Series A Convertible Preferred Units has the meaning assigned to such term in the Partnership Agreement, as in effect on the date of the indenture.

Examples of Series A Convertible Preferred Units in a sentence

• AMID acquired the High Point System from an ArcLight affiliate in exchange for $15.0 million plus the issuance of Series A Convertible Preferred Units with a related value of $90.0 million.

• On an as-converted basis, such Series A Convertible Preferred Units would represent approximately 16.5% of the outstanding Common Units of the Issuer.

• The Series A Convertible Preferred Units are convertible at a current conversion rate of 1.1153, which is readjusted quarterly.

• Percentage calculation based on (a) 33,960,946 common units outstanding as of September 20, 2022 as stated in the Issuer’s proxy statement for annual meeting of limited partners as filed on a Form 6-K with the Securities and Exchange Commission on September 26, 2022 and (b) 2,083,333 Series A Convertible Preferred Units outstanding (multiplied by the conversion rate) and held by OMP AY Preferred Limited.

• Series A Convertible Preferred Units (“MPLX Convertible Preferred Units”) are convertible on a one-for-one basis into common units of MPLX and are senior to the common units in terms of liquidation preference and priority of distributions.

More Definitions of Series A Convertible Preferred Units

Series A Convertible Preferred Units means units representing limited partner interests of SXE designated as Series A Convertible Preferred Units and having the rights, obligations and such other terms as set forth in the SXE Partnership Agreement.

Series A Convertible Preferred Units has the meaning set forth in the Partnership Agreement.

Series A Convertible Preferred Units means the series of preferred units of the Operating Partnership established by the Sixth Amendment to the Amended and Restated Agreement of Limited Partnership.

Series A Convertible Preferred Units is defined in Section 5.15(a).

Series A Convertible Preferred Units means the Company’s Series A Convertible Preferred Units and in the event of a Corporate Conversion, shares of NewCo’s Series A Preferred Stock.

Series A Convertible Preferred Units and consisting of a total of 14,705,882 Series A Preferred Units, plus any additional Series A Preferred Units issued in kind as a Preferred Distribution pursuant to Section 5.15(b)(ii) (“Series A PIK Preferred Units”), having the same rights and preferences, and subject to the same duties and obligations as the Common Units, except as set forth in this Section 5.15 and Section 6.12. Other than with respect to Series A PIK Preferred Units, the class of Series A Convertible Preferred Units shall be closed immediately following the Series A Issuance Date and thereafter no additional Series A Preferred Units shall be designated, created or issued without the prior written approval of the holders of a majority of the Outstanding Series A Voting Units.

Series A Convertible Preferred Units shall have the meaning set forth in Section 4.2(a)(i).