Examples of Series C-1 Preferred Units in a sentence
For purposes of clause (b) of this Section 11.8, the Series C Preferred Units shall be treated as a single series, except in the case where an amendment is adverse to the Series C-2 Preferred Units and not the Series C-1 Preferred Units, in which case the Series C-2 Preferred Units shall be treated as a separate series.
As of the TrueBridge Closing Date, the Company initially shall have six classes of Units, which shall be as follows: “Common Units,” “Series A Preferred Units,” “Series B Preferred Units,” “Series C-1 Preferred Units” and “Series C-2 Preferred Units” (and the Series C-1 Preferred Units and Series C-2 Preferred Units shall together constitute the “Series C Preferred Units”), and “Series D Preferred Units”.
The amount of distributions payable for the Initial Distribution Period, or any other period shorter or longer than a full Distribution Period, on the Series C-1 Preferred Units shall be computed on the basis of the actual number of days in such period and a 360-day year of twelve 30-day months.
As of the close of business on the date hereof, the total number of Series C-1 Preferred Units issued and outstanding will be up to 1,250,000.
When entitled to vote on a matter being submitted to holders of Partnership Units of more than one Class or Series, the Series C-1 Preferred Units shall vote together as a class.
As promptly as practicable after the surrender of certificates for Series C-1 Preferred Units as aforesaid, the General Partner shall receive a certificate or certificates for the number of full Class A Units issuable upon the conversion of Series B Preferred Units surrendered in accordance with the provisions of this Section E, and any fractional interest in respect of a Class A Unit arising upon such conversion shall be settled as provided in paragraph (iii) of this Section E.
Such distributions shall be cumulative from the date of issuance and shall be payable quarterly, when, as and if authorized and declared by the General Partner, in arrears on each Distribution Payment Date, commencing on the first Distribution Payment Date after the date of issuance of the Series C-1 Preferred Units; provided that distribution amount per Series C-1 Preferred Unit paid in respect of the Initial Distribution Period shall be determined in accordance with paragraph (ii) below.
From and after the date hereof the Partnership shall be authorized to issue Partnership Units of a new series, which Partnership Units are hereby designated as "Series C-1 Preferred Units".
In connection with a redemption by Gables Trust of any or all of the Gables Trust Series C-1 Preferred Shares, the General Partner shall have the right to cause the Partnership to redeem all or a portion of the Series C-1 Preferred Units that the Gables Trust and/or the General Partner holds, and such redemption proceeds shall be distributed to the Gables Trust and/or the General Partner, as applicable, pursuant to the provisions of Section 5.1(b).
For so long as the Class D Units are outstanding (and the Class C Units are no longer outstanding), the Series C-1 Preferred Units shall receive: (i) accumulated and unpaid distributions pari passu with distributions made to the holders of any outstanding Class D Units pursuant to Subsection 5.1.B(ii) of the Agreement and (ii) other distributions pari passu with distributions made to the holders of any outstanding Class D Units pursuant to Subsection 5.1.B(iii) of the Agreement.