Series C Preferred Partnership Unit definition

Series C Preferred Partnership Unit means, with respect to TWE and Paragon, such Partner's right to distributions in an amount equal to the Series C Priority Return allocable to such Partner's Series C Preferred Capital Contribution of $1,000 and the right to a return of such Series C Preferred Capital Contribution in redemption thereof, all of which shall be payable in accordance with Section 5, together with all allocations of income attributable thereto, as specified in Section 5.

Series C Preferred Partnership Unit means a Partnership Unit issued by the Partnership to Post LP Holdings in consideration of the contribution by Post LP Holdings to the Partnership of the entire net proceeds received by Post LP Holdings from PPI in connection with PPI's issuance of the Series C Preferred Shares. The Series C Preferred Partnership Units shall constitute Preferred Partnership Units. The Series C Preferred Partnership Units shall have the voting powers, designation, preferences and relative, participating, optional or other special rights and qualifications, limitations or restrictions as are set forth in Exhibit G, attached hereto. It is the intention of the General Partner, in establishing the Series C Preferred Partnership Units, that each Series C Preferred Partnership Unit shall be substantially the economic equivalent of a Series C Preferred Share.

Series C Preferred Partnership Unit means a Partnership Unit issued ----------------------------------- by the Partnership to AEW Fund in consideration of the contribution by AEW Fund to the Partnership of $24.1875. The Series C Preferred Partnership Units shall constitute Preferred Partnership Units. The Series C Preferred Partnership Units shall have the voting powers, designation, preferences and relative, participating, optional or other special rights and qualifications, limitations or restrictions as are set forth in Exhibit S, --------- attached hereto. In addition, the definition of "Liquidation Preference Amount" appearing in Article I of the Partnership Agreement is hereby deleted in its entirety and the following definition is inserted in its place:

Examples of Series C Preferred Partnership Unit in a sentence

• Quarterly distributions on each Series C Preferred Partnership Unit shall accrue and be cumulative from and including the date of original issue thereof, whether or not (i) quarterly distributions on such Series C Preferred Partnership Units are earned or declared or (ii) on any Quarterly Distribution Date there shall be funds legally available for the payment of quarterly distributions.

• For the purposes of the Series C Preferred Partnership Unit liquidation preferences, (i) a consolidation or merger of the Partnership with one or more corporations, real estate investment trusts or other entities, (ii) a sale, lease, conveyance or other transfer of all or substantially all of the Partnership’s assets, business or properties, or (iii) a statutory share exchange shall not be deemed to be a liquidation, dissolution or winding up, voluntary or involuntary, of the Partnership.

More Definitions of Series C Preferred Partnership Unit

Series C Preferred Partnership Unit means a share of the ownership interests in the Partnership designated as Series C Preferred Partnership Units and issued to the General Partner in exchange for the net proceeds of the issuance by the Trust of its Series C Preferred Shares, which Series C Preferred Partnership Units shall have the designations, preferences, privileges, limitations and relative rights set forth in Section 4.02(f) hereof. The allocation of Series C Preferred Partnership Units shall be as set forth on Exhibit A, as may be amended from time to time. Upon any redemption, issuance or transfer of Series C Preferred Partnership Units, the General Partner shall prepare a revised schedule in the form of Exhibit A reflecting the names of the then-current Partners, their Common, Class B Preferred, or Series C Preferred Percentage Interests, and the number of Common or Preferred Partnership Units owned by each Partner.