Examples of Series K Preferred Units in a sentence
No sinking fund shall be established for the retirement or redemption of Series K Preferred Units.
Holders of Series K Preferred Units shall not be entitled to any distributions, whether payable in cash, other property or otherwise, in excess of the full cumulative distributions described herein.
If any date on which distributions are to be made on the Series K Preferred Units is not a Business Day, then payment of the distribution to be made on such date will be made on the next succeeding day that is a Business Day (and without any interest or other payment in respect of any such delay) except that, if such Business Day is in the next succeeding calendar year, such payment shall be made on the immediately preceding Business Day, in each case with the same force and effect as if made on such date.
After payment of the full amount of the liquidating distributions to which they are entitled, Holders of Series K Preferred Units will have no right or claim to any of the remaining assets of the Partnership.
Notwithstanding the foregoing, distributions on the Series K Preferred Units will accrue whether or not the terms and provisions of any agreement of the Partnership at any time prohibit the current payment of distributions, whether or not the Partnership has earnings, whether or not there are funds legally available for the payment of such distributions and whether or not such distributions are authorized.
Accrued but unpaid distributions on the Series K Preferred Units will accumulate as of the Preferred Unit Distribution Payment Date on which they first become payable.
The Series K Preferred Units shall not be convertible into any other class or series of interest in the Partnership.
Upon voluntary or involuntary liquidation, dissolution or winding-up of the Partnership, distributions on the Series K Preferred Units shall be made in accordance with Article 13 of this Agreement.
Holders of the Series K Preferred Units will not have any voting rights or right to consent to any matter requiring the consent or approval of the Limited Partners, except as set forth below and in Section 7.3.E.
The Series K Preferred Units shall be subject to the provisions of Article 11 hereof; provided, however, that the Series K Preferred Units shall not be subject to the right of first refusal of the General Partner as described in Section 11.3 hereof.