Examples of Series A Preference Unit in a sentence
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.
Each Series A Preference Unit shall be identical in all respects to every other Series A Preference Unit, except as to the respective dates from which the Series A Liquidation Preference shall increase or from which Series A Distributions may begin accruing, to the extent such dates may differ.
The payment of the Series A Liquidation Preference shall be a payment in redemption of the Series A Preference Units such that, from and after payment of the full Series A Liquidation Preference, any such Series A Preference Unit shall thereafter be cancelled and no longer be Outstanding.
The General Partner may cause the Partnership to purchase or otherwise acquire Series A Preference Units, so long as no Series A Preference Unit Cumulative Deficiency then exists, and Series B Preference Units, at any time.
Without the approval of the holders of at least a majority of the Outstanding Series A Preference Units during the Series A Preference Unit Preference Period and thereafter without the approval of the holders of at least a majority of the Outstanding Voting Units, the General Partner shall not, on behalf of the Partnership, consent to any amendment to the Operating Companies' Agreements that would adversely affect the Partnership as a member of the Operating Companies.
On or before the Series A Preference Unit Conversion Date, or the first or second anniversary thereof, if applicable, the General Partner shall file an application to list the Common Units to be issued upon such conversion on the New York Stock Exchange ("NYSE") and shall pursue such application in good faith.
If the Liquidity Condition is not satisfied following the giving of any Series A Preference Unit Conversion Opportunity Notice and the holders of less than a majority of the outstanding Series A Preference Units elect to convert, no Series A Preference Units will be converted and the Series A Preference Unit Preference Period will end as of the date of such Series A Preference Unit Conversion Opportunity Notice.
During or after the Series A Preference Unit Preference Period, the General Partner shall have no duty, express or implied, to sell or otherwise dispose of any asset of the Operating Companies or of the Partnership, other than in the ordinary course of business.
If the holders of at least a majority of the outstanding Series A Preference Units elect to convert following the giving of any Series A Preference Unit Conversion Opportunity Notice, but the Liquidity Condition is not satisfied, the Series A Preference Unit Preference Period shall not end.
Notwithstanding anything to the contrary set forth herein, each share of Series A Preferred Stock shall also continue to accrue all accrued and unpaid distributions up to the exchange date on any Series A Preference Unit (as defined in the Fifth Amended and Restated Limited Partnership Agreement of Kilroy Realty, L.P. dated as of March 5, 2004 (the “Fifth Amendment”)) validly exchanged into such share of Series A Preferred Stock in accordance with the provisions of such Fifth Amendment.