Series C Preferred Capital definition

Series C Preferred Capital means a Capital Account balance equal to the product of (i) the number of Series C Preferred Units then held by the Series C Limited Partner (including the General Partner and the Operating Partnership to the extent either of them holds Series C Preferred Units) multiplied by (ii) the sum of $50 and any Preferred Distribution Shortfall per Series C Preferred Unit.

Examples of Series C Preferred Capital in a sentence

• As of the date of such transfer, the transferee shall succeed to the Capital Account, Common Capital Contribution, Series A Preferred Capital Contribution, Series B Preferred Capital Contribution and Series C Preferred Capital Contribution of the transferor Partner, to the extent that the transferor's Capital Account, Common Capital Contribution, Series A Preferred Capital Contribution, Series B Preferred Capital Contribution and Series C Preferred Capital Contribution relate to the transferred interest.

• Except as agreed to by the Partners in accordance with Section 3.2 hereof, there shall be no further assessments for additional Common Capital Contributions, Series A Preferred Capital Contributions, Series B Preferred Capital Contributions or Series C Preferred Capital Contributions by the Partners to the Partnership.