Examples of Series A Holders in a sentence
Notwithstanding anything to the contrary in this Agreement, but subject to Section 7.17(c) and without reference to the definition of “good faith” in Section 7.17(b), neither the General Partner nor any other Indemnitee shall owe any fiduciary duties to Series A Holders, other than the implied duty of good faith and fair dealing.
However, the right of the Series A Holders and the holders of the Voting Preferred Units to elect two additional directors on the Board of Directors of the General Partner shall again vest if and whenever six additional quarterly distributions have not been declared and paid, as described above.
Notwithstanding anything to the contrary in this Agreement, to the fullest extent permitted by law, neither the General Partner nor any other Indemnitee shall have any duties or liabilities to the Series A Holders.
Series A Holders shall be entitled to receive Series A Distributions from time to time out of any assets of the Partnership legally available for the payment of distributions at the Series A Distribution Rate per Series A Preference Unit when, as, and if declared by the Board of Directors.
The Series A Preferred Units and the Series A Holders shall not have any designations, preferences, rights, powers or duties, other than as set forth in this Agreement or as provided by applicable law.