Series B Preferred Mirror Units definition

Series B Preferred Mirror Units has the meaning set forth in Section 7.01.

Series B Preferred Mirror Units means the Class of Preferred Units designated as “6.50% Series B Preferred Mirror Units” pursuant to Section 12.01.

Series B Preferred Mirror Units has the meaning set forth in Section 7.01. “Similar Law” means any state, local, non-U.S. or other laws or regulations that would cause the underlying assets of the Partnership to be treated as assets of an investing entity by virtue of its investment (or any beneficial interest) in the Partnership and thereby subject the Partnership, the General Partner or, OCGH or OEP (or other Persons responsible for the investment and operation of the Partnership’s assets) to laws or

Examples of Series B Preferred Mirror Units in a sentence

• The Series B Preferred Mirror Units are hereby designated and created as a series of Preferred Units.

• So long as funds sufficient to pay the redemption price for all of the Series B Preferred Mirror Units called for redemption have been set aside for payment, from and after the redemption date, such Series B Preferred Mirror Units called for redemption shall no longer be deemed outstanding, and all rights of the Series B Holders thereof shall cease other than the right to receive the redemption price, without interest.

• The Capital Account balance of each holder of Series B Preferred Mirror Units with respect to each Series B Preferred Mirror Unit shall equal the Liquidation Preference per Series B Preferred Mirror Unit as of the date such Series B Preferred Mirror Unit is initially issued and shall be increased as set forth in Article XII.

• Distributions payable on the Series B Preferred Mirror Units for any period less than a full Distribution Period shall be computed on the basis of a 360-day year consisting of twelve 30-day months.

• The terms, rights, powers, preferences and duties of the Series A Preferred Mirror Units and the Series B Preferred Mirror Units are as set forth in Article XI and Article XII, respectively.

• No distributions shall be made with respect to the Series B Preferred Mirror Units except as permitted under Article XII.

• The Partners have made, on or prior to the date hereof, Capital Contributions and have acquired the number of Class A Units, Series A Preferred Mirror Units and/or Series B Preferred Mirror Units as specified in the books and records of the Partnership.

• As of the date of this Agreement, the Units are comprised of three Classes: Class A Units, Series A Preferred Mirror Units and Series B Preferred Mirror Units.

• For the avoidance of doubt, and without limitation of the foregoing, no distributions pursuant to Section 4.01, including Tax Distributions, shall be made with respect to the Series B Preferred Mirror Units.

• To the extent there is insufficient Gross Ordinary Income for a fiscal year to allocate to the Series B Mirror Holders pursuant to the prior sentence and to the holders of any other Parity Units, Gross Ordinary Income shall be allocated to the Series B Mirror Holders and holders of Parity Units for such fiscal year on a pro rata basis based on the amount of distributions paid in respect of the Series B Preferred Mirror Units and such Parity Units, respectively in such fiscal year.