Series B Preferred Unit definition

Series B Preferred Unit means a Preferred Unit having the designations, preferences, rights, powers and duties set forth in Article XVI.

Series B Preferred Unit means a Partnership Unit which is designated by the General Partner as a Series B Preferred Unit of the Partnership.

Series B Preferred Unit means a 6.550% Series B Preferred Unit having the designations, rights, powers and preferences set forth in Article II of this Unit Designation.

Examples of Series B Preferred Unit in a sentence

• Each Series B Preferred Unit shall be identical in all respects to every other Series B Preferred Unit, except as to the respective dates from which the Series B Liquidation Preference shall increase or from which Series B Distributions may begin accruing, to the extent such dates may differ.

• Accrued but unpaid distributions on the Series B Preferred Units will accumulate as of the Series B Preferred Unit Distribution Payment Date on which they first become payable.

• For purposes of the foregoing provisions of this Section 4, each Series B Preferred Unit shall have one (1) vote.

• Distributions on the Series B Preferred Units will be made to the holders of record of the Series B Preferred Units on the relevant record dates, which will be fifteen (15) days prior to the relevant Preferred Unit Distribution Payment Date (the "Series B Preferred Unit Partnership Record Date").

• Such distributions will be payable (A) quarterly in arrears, on the 15th day of January, April, July and October of each year and (B) in the event of (i) an exchange of Series B Preferred Units into Series B Preferred Shares, or (ii) a redemption of Series B Preferred Units, on the exchange date or redemption date, as applicable (each a "Series B Preferred Unit Distribution Payment Date"), commencing on the first of such payment dates to occur following their original date of issuance.

More Definitions of Series B Preferred Unit

Series B Preferred Unit means a Unit having the rights described in Section 3.4(i).

Series B Preferred Unit means a Unit in the Company that is a Preferred Unit (as defined in the Operating Agreement) designated as a “Series B Preferred Unit” pursuant to the terms of the Operating Agreement.

Series B Preferred Unit means a Partnership Unit issued by the Partnership to the General Partner in consideration of the contribution by the General Partner to the Partnership of the entire net proceeds received by the General Partner from the issuance of the 8.25% Series B Cumulative Redeemable Preferred Stock (liquidation preference $25.00 per share), par value $0.01 per share, issued by the General Partner. The Series B Preferred Units are Partnership Preferred Units. The Series B Preferred Units have the preferences, conversion and other rights, voting powers, restrictions, limitations as to distributions, qualifications and terms and conditions of redemption as are set forth in Exhibit H to the Agreement.

Series B Preferred Unit has the meaning set forth in the Partnership Agreement.

Series B Preferred Unit means a Limited Partnership Interest having the designations, preferences, rights, restrictions, and limitations as set forth in this Exhibit BP.

Series B Preferred Unit has the meaning assigned to such term in Section 5.15(a).

Series B Preferred Unit means a Unit in the Company that is a Preferred Unit designated as a “Series B Preferred Unit.”