Series M Preferred Units definition

Series M Preferred Units means the Partnership’s 6 3/4% Series M Cumulative Redeemable Partnership Units.

Series M Preferred Units means the Partnership’s 6 3/4% Series M Cumulative Redeemable Partnership Units. “Series M Preferred Unit Distribution Payment Date” shall have the meaning set forth in Section 21.3.A hereof.

Series M Preferred Units means the series of Partnership Units established pursuant to the Sixteenth Amendment to this Partnership Agreement, representing units of Limited Partnership Interest designated as the Series M Preferred Units, with the preferences, rights, voting powers, restrictions, limitations as to distributions, qualifications and terms and conditions of repurchase and conversion as described herein.

Examples of Series M Preferred Units in a sentence

• After payment of the full amount of the liquidating distributions to which they are entitled, the General Partner, as holder of the Series M Preferred Units, will have no right or claim to any of the remaining assets of the Partnership.

• The General Partner, as holder of the Series M 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.

• Immediately prior to any redemption of Series M Preferred Units, the Partnership shall pay, in cash, any accumulated and unpaid distributions on the Series M Preferred Units to be redeemed through the redemption date.

• Except as provided above, the Partnership will make no payment or allowance for unpaid distributions, whether or not in arrears, on Series M Preferred Units for which a notice of redemption has been given.

• Any distribution payment made on the Series M Preferred Units shall first be credited against the earliest accrued but unpaid distribution due with respect to such Series M Preferred Units which remain payable.

• No sinking fund shall be established for the retirement or redemption of Series M Preferred Units.

• If less than all of the Series M Preferred Units are to be redeemed, the notice shall also specify the number of Series M Preferred Units to be redeemed.

• Any Series M Preferred Units that shall at any time have been redeemed shall, after such redemption, have the status of authorized but unissued Preferred Units, without designation as to series until such shares are once more designated as part of a particular series by the General Partner.

• The General Partner shall not have any voting or consent rights in respect of its partnership interest represented by the Series M Preferred Units.

• If any date on which distributions are to be made on the Series M 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.

More Definitions of Series M Preferred Units

Series M Preferred Units means the series of Units designated as the ------------------------ Series M Preferred Units with the designations, preferences and other rights set forth in Exhibit R hereto. ---------