Series C PIK Preferred Units definition

Series C PIK Preferred Units has the meaning assigned to such term in Section 5.14(a).

Series C PIK Preferred Units has the meaning set forth in the Partnership Agreement.

Examples of Series C PIK Preferred Units in a sentence

• Unless otherwise expressly provided, references in this Agreement to Series C Preferred Units shall include all Series C PIK Preferred Units Outstanding as of the date of such determination.

• Other than with respect to Series C PIK Preferred Units, immediately following the Series C Issuance Date and thereafter, no additional Series C Preferred Units shall be designated, created or issued without the prior written approval of the General Partner and the holders of a majority of the Outstanding Series C Preferred Units.

• After an issuance of Series C PIK Preferred Units pursuant to Section 5.14(b)(ii), the Capital Accounts of all Series C Preferred Units that are Outstanding prior to such issuance shall be divided equally among all Series C Preferred Units that are Outstanding after such issuance.

• For the Quarter ending June 30, 2016, and for each Quarter thereafter through and including the Quarter ending December 31, 2018, in the discretion of the General Partner, and upon the consent of the Series C Unitholder, the Series C Quarterly Distribution on each Outstanding Series C Preferred Unit may be paid partially or entirely in a number of Series C PIK Preferred Units equal to the Series C PIK Payment Amount.

• After an issuance of Series C PIK Preferred Units pursuant to Section 5.14(b)(ii), the Capital Accounts of all Series C Preferred Units that are Outstanding prior to such issuance shall be divided equally among all Series C Preferred Units that Exhibit 2.2 are Outstanding after such issuance.

• Other than Series C PIK Preferred Units issued in connection with the Series C Quarterly Distribution, the Partnership shall not, without the affirmative vote of the holders of a majority of the Outstanding Series C Preferred Units, issue any Series C Parity Securities or Series C Senior Securities.

• After an issuance of Series C PIK Preferred Units pursuant to Section 5.12(b)(ii), the Capital Accounts of all Series C Preferred Units that are Outstanding prior to such issuance shall be divided equally among all Series C Preferred Units that are Outstanding after such issuance.