Series E Articles Supplementary definition
Examples of Series E Articles Supplementary in a sentence
For purposes of determining the number of Series E Excess Units under this Section 18.8.A(iii), the "Ownership Limit" set forth in the Series E Articles Supplementary shall be deemed to be 9.0%.
From and after the applicable Conversion Date (as such term is defined in the Series E Articles Supplementary), the Series E Preferred Partnership Units so converted shall no longer be outstanding and all rights hereunder, to distributions or otherwise, with respect to such Series E Preferred Partnership Units shall cease.
The number of Common Partnership Units into which the Series E Preferred Partnership Units are convertible shall be equal to the number of REIT Common Shares into which the Series E Preferred Stock is then being converted, as set forth in the Series E Articles Supplementary.
In connection with the conversion by the Company of any shares of Series E Preferred Stock into shares of REIT Common Shares in accordance with the provisions of the Series E Articles Supplementary, the Partnership shall convert Series E Preferred Partnership Units into Common Partnership Units and issue such Common Partnership Units to Ashford OP Limited Partner LLC.
In the event of the conversion of any Series E Preferred Shares into Alternative Conversion Consideration (as defined in the Series E Articles Supplementary) in accordance with the Series E Articles Supplementary, the Company shall retire a number of Series E Preferred Units equal to the number of Series E Preferred Shares converted into such Alternative Conversion Consideration.
In connection with the conversion by the Company of any shares of Series E Preferred Stock into shares of Common Stock in accordance with the provisions of the Series E Articles Supplementary, the Partnership shall convert Series E Preferred Partnership Units into Common Units and issue such Common Units to Ashford OP Limited Partner, LLC.
In the event of a conversion of the Series E Preferred Shares into Common Shares, to the extent the Managing Member is required to pay cash in lieu of fractional Common Shares pursuant to the Series E Articles Supplementary in connection with such conversion, the Company shall distribute an equal amount of cash to the Managing Member.
The number of Common Units into which the Series E Preferred Partnership Units are convertible shall be equal to the number Common Shares into which the Series E Preferred Stock is then being converted, as set forth in the Series E Articles Supplementary.
In connection with the conversion by the Company of any shares of Series E Preferred Stock into shares of REIT Common Shares in accordance with the provisions of the Series E Articles Supplementary, the Partnership shall convert Series E Preferred Partnership Units into Common Partnership Units and issue such Common Partnership Units to Braemar OP Limited Partner LLC.
Series E Partnership Preferred Units shall be repurchased by the Partnership if a "Fundamental Change" or "REIT Termination Event" (as such terms are defined in the Series E Articles Supplementary) occurs and the General Partner is required to repurchase any of the shares of Series E Preferred Stock.