Examples of Series P Preferred Units in a sentence
No sinking fund shall be established for the retirement or redemption of Series P Preferred Units.
Upon voluntary or involuntary liquidation, dissolution or winding-up of the Partnership, distributions on the Series P Preferred Units shall be made in accordance with Article 13 of this Agreement.
If fewer than all the Units represented by any such certificate representing Series P Preferred Units are to be redeemed, a new certificate shall be issued representing the unredeemed shares.
Immediately prior to any redemption of Series P Preferred Units, the Partnership shall pay, in cash, any accumulated and unpaid distributions on the Series P Preferred Units to be redeemed through the redemption date.
After payment of the full amount of the liquidating distributions to which they are entitled, the General Partner, as holder of the Series P Preferred Units, will have no right or claim to any of the remaining assets of the Partnership.
Any Series P 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.
No interest, or sum of money in lieu of interest, shall be payable in respect of any distributions or payments on Series P Preferred Units which may be in arrears.
The Series P Preferred Units shall not be convertible into any other class or series of interest in the Partnership.
Any distribution payment made on the Series P Preferred Units shall first be credited against the earliest accrued but unpaid distribution due with respect to such Series P Preferred Units which remain payable.
Except as provided above, the Partnership will make no payment or allowance for unpaid distributions, whether or not in arrears, on Series P Preferred Units for which a notice of redemption has been given.