Series A Preference Units definition

Series A Preference Units means Series A Preference Units as defined in the Partnership Agreement.

Series A Preference Units means the Common Units issued to each holder of Series A Preferred Units as of the date hereof pursuant to Section 5.1(a)(ii). The Series A Preference Units issuable to each such holder of Series A Preferred Units is set forth on Schedule C hereto opposite each such holder’s name under the column titled “Series A Preference Units”.

Examples of Series A Preference Units in a sentence

• No distribution shall be declared or paid or set apart for payment on any Junior Securities (other than a distribution payable solely in Junior Securities) unless full cumulative Series A Distributions have been or contemporaneously are being paid or provided for on all Outstanding Series A Preference Units and any other Parity Securities through the most recent respective Series A Distribution Payment Dates.

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

• The Series A Preference Units shall not have any voting powers, preferences or relative, participating, optional or other special rights, or qualifications, limitations or restrictions thereof, other than as set forth in this Article XVI or as provided by applicable law.

• To the fullest extent permitted by applicable law, the General Partner, Partnership, the Transfer Agent and the Paying Agent may deem and treat any Series A Holder as the true, lawful and absolute owner of the applicable Series A Preference Units for all purposes, and neither the General Partner, the Partnership nor the Transfer Agent or the Paying Agent shall be affected by any notice to the contrary.

• The Series A Preference Units represent perpetual equity interests in the Partnership and shall not give rise to a claim by the holder for redemption thereof at a particular date.

• If less than all distributions payable with respect to all Series A Preference Units and any other Parity Securities are paid, any partial payment shall be made pro rata with respect to the Series A Preference Units and any such other Parity Securities entitled to a distribution payment at such time in proportion to the aggregate distribution amounts remaining due in respect of such Series A Preference Units and such other Parity Securities at such time.

• The Series A Preference Units shall not have the benefit of any sinking fund.

• On May 15, 2017, the Board of Directors designated and created a series of Preference Units designated as “8.625% Series A Cumulative Redeemable Perpetual Fixed to Floating Rate Preference Units,” and fixed the preferences, rights, powers and duties of the holders of the Series A Preference Units as set forth in this Article XVI.

• In real (‘dense’, ‘non-ideal’) gases, the mean free path is comparable with molecular dimensions.

• Any Series A Preference Units held by the Partnership or any of its subsidiaries or Affiliates shall not be entitled to vote.