Special LP Unit definition

Special LP Unit means a Special LP unit representing a limited partner interest in the Partnership, with the rights and preferences set forth in the Original Partnership Agreement.
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Special LP Unit means a Unit representing, when outstanding, a fractional part of the Partnership Interests of all Limited Partners, and having the rights and obligations specified with respect to Special LP Units in this Agreement.
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Special LP Unit means a “Special LTIP Unit” as defined in the Partnership Agreement.
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Examples of Special LP Unit in a sentence

  • Each Special GP Unit, Common GP Unit and Subordinated GP Unit will automatically convert into a Special LP Unit, Common LP Unit or Subordinated LP Unit, respectively, on a one-for-one basis immediately prior to the transfer of such Unit to any Person who is not an Affiliate of the Special General Partner.


More Definitions of Special LP Unit

Special LP Unit means a special limited partner interest in the Partnership, entitling the holder thereof to a distribution of net income of the Partnership.
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Special LP Unit means a Special LP unit representing a limited partner interest in the Partnership, with the rights and preferences set forth in the Original Partnership Agreement. “Special Units” means the Special GP Units and Special LP Units, collectively. “Sponsor Common Units” means 50,920,000 Common Units, provided that if the Partnership increases the number of Firm Units above 19,200,000 Common Units, the Sponsor Common Units will be decreased by a number of Common Units equal to 115% of such increase, and if the Partnership decreases the Firm Units below 19,200,000 Common Units, the Sponsor Common Units will be increased by a number of Common Units equal to 115% of such decrease. “Sponsor Consideration” means the Sponsor Common Units and the right to receive the Deferred Issuance and Distribution. “Underwriters” means the underwriting syndicate to be listed in the Underwriting Agreement. “Underwriters’ Spread” means the total amount of the Underwriters’ discount.
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Related to Special LP Unit

  • Special Limited Partner Interest means the interest of the Special Limited Partner in the Partnership representing its right as the holder of an interest in distributions described in Sections 5.1(b)(iii)(A), (c), (d) and (e) (and any corresponding allocations of income, gain, loss and deduction under this Agreement).

  • Partnership Unit means a fractional, undivided share of the Partnership Interests of all Partners issued hereunder. The allocation of Partnership Units among the Partners shall be as set forth on Exhibit A, as may be amended from time to time.

  • OP Unit means a Partnership Unit which is designated as an OP Unit of the Partnership.

  • Special Limited Partner means WNC Housing, L.P., a California limited partnership, and such other Persons as are admitted to the Partnership as additional or substitute Special Limited Partners pursuant to this Agreement.

  • Class B Unit means a Partnership Unit which is designated as a Class B Unit of the Partnership.