Examples of Special OP Units in a sentence

The Special OP Units shall be entitled to the distributions provided for, and shall be subject to redemption by the Operating Partnership, in accordance with the terms of the Operating Partnership Agreement.
To the extent distributions to the Special OP Units are not paid from net sales proceeds, such amounts will count against the limit on Operating Expenses.
Upon the earliest to occur of the termination or nonrenewal of this Agreement for Cause, a Termination Event, or a Liquidity Event, all of the Special OP Units shall be redeemed by the Operating Partnership in accordance with the terms of the Operating Partnership Agreement.
In addition, an Affiliate of the Advisor has made a capital contribution of $1,000 to the Operating Partnership in exchange for Special OP Units.
There shall be a corresponding allocation of profits of the Operating Partnership made to the holder of the Special OP Units in connection with the amounts payable hereunder.

More Definitions of Special OP Units

Special OP Units has the meaning set forth in the Limited Partnership Agreement.

Special OP Units means the separate series of limited partnership interests to be issued in accordance with Section 8.04.

Special OP Units means units of a series of Partnership Interests, designated as Special OP Units, issued pursuant to Section 4.1, which interest is intended to be a profits interest within the meaning of Revenue Procedure 93-27 and any successor pronouncements. The holder of the Special OP Units shall have the same rights and preferences as a holder of a Partnership Unit under this Agreement that is a Limited Partner except as otherwise set forth in this Agreement.

Special OP Units shall have the meaning as provided in Section 9.8 herein.

Special OP Units means the separate series of limited partnership interests issued in accordance with Section 8.03. Sponsor means Cantor Xxxxxxxxxx Investors, LLC, a Delaware limited liability company Stockholders means the registered holders of the Shares.

Special OP Units means the special units of the Operating Partnership issued to the Advisor as part of the overall consideration for the services to be provided hereunder, which Special OP Units are further described in the Operating Partnership Agreement. 1.51 “Stockholders” means the registered holders of the shares of common stock of the Company. 1.52 “Termination Date” means the date of termination of the Agreement determined in accordance with Article XII. 1.53 “Termination Fee” means, with respect to any termination or non-renewal of this Agreement under Article XII, a fee equal to three times the sum of (i) the average annual Asset Management Fee earned by the Advisor during the 24-month period immediately preceding the most recently completed calendar quarter prior to the Termination Date and (ii) the average annual Administrative Fee earned by the Advisor during the two most recently completed Measurement Periods (as defined in the Operating Partnership Agreement) prior to the Termination Date. 1.54 “TRS Operating Agreement” mean that certain Limited Liability Agreement of Caliber Hospitality TRS, LLC, dated as of March 17, 2023. 1.55 “Valuation Guidelines” means the valuation guidelines adopted by the Board, as amended from time to time.

Special OP Units has the meaning set forth in the Limited Partnership Agreement. “Termination Date” means the date of termination of this Agreement. “2%/25% Guidelines” has the meaning set forth in the Charter. “Units” has the meaning set forth in the Limited Partnership Agreement. “Valuation Policy” means the valuation policy adopted by the valuation committee of the Board of Directors, as amended from time to time.