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”.
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".
Except as provided above, the Partnership shall make no payment or allowance for unpaid distributions, whether or not in arrears, on Series C-1 Preferred Units called for redemption or on the Class A Units issued upon such redemption.
The General Partner may issue additional Series C-1 Preferred Units from time to time in accordance with the terms of the Agreement, and in connection with any such additional issuance the General Partner shall revise Exhibit A to the Agreement to reflect the total number of Series C-1 Preferred Units then issued and outstanding.
On and after November 24, 2003, the General Partner may, at its option, cause the Partnership to redeem the Series C-1 Preferred Units for Class A Units, in whole or in part, as set forth herein, subject to the provisions described below (the "Redemption Date").
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 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.
Transfers of Series C-1 Preferred Units shall be governed by Article XI of the Agreement.