Specified Partnership Units definition

Specified Partnership Units means with respect to each Excluded Property, the amount of Partnership Common Units and/or Partnership Preferred Units (as the case may be) which would have been issued to the Special Limited Partner, pursuant to Section 4.3.B and 4.2 hereof, if the Special Limited Partner had contributed such Excluded Property on the date that such asset was acquired by the Special Limited Partner or a wholly-owned Subsidiary of the Special Limited Partner, in exchange for Partnership Units equal in value to the fair market value of such Excluded Property as of such date.
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Specified Partnership Units means, (i) with respect to each Excluded Property that is listed on Exhibit C as of the date hereof, the number of Partnership Common Units and/or Partnership Preferred Units (as the case may be) set forth opposite such Excluded Property on Exhibit C, and (ii) with respect to each Excluded Property that is added to Exhibit C from and after the date hereof, the amount of Partnership Common Units and/or Partnership Preferred Units (as the case may be) which would have been issued to the Special Limited Partner, pursuant to Section 4.3.B and 4.2 hereof, if the Special Limited Partner had contributed such Excluded Property on the later to occur of (a) the date of issuance of any Partnership Unit to any Person that is not an Affiliate of the Special Limited Partner and (b) the date that such asset was acquired by the Special Limited Partner or a wholly-owned Subsidiary of the Special Limited Partner, in exchange for Partnership Units equal in value to the fair market value of such Excluded Property as of such date.
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Specified Partnership Units means, (i) with respect to each --------------------------- Excluded Property that is listed on Exhibit G as of the date hereof, the number of Partnership Common Units and/or Partnership Preferred Units (as the case may be) set forth opposite such Excluded Property on Exhibit G, and (ii) with respect to each Excluded Property that is added to Exhibit G from and after the date hereof, the amount of Partnership Common Units and/or Partnership Preferred Units (as the case may be) which would have been issued to WEA, pursuant to Section 4.3.B and 4.2 hereof, if WEA had contributed such Excluded Property on the later to occur of (A) the date of issuance of any Partnership Unit or grant of any Investor Unit Right to any Person that is not an Affiliate of WEA and (B) the date that such asset was acquired by WEA or a wholly-owned Subsidiary of WEA, in exchange for Partnership Units equal in value to the fair market value of such Excluded Property as of such date."
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Examples of Specified Partnership Units in a sentence

  • Upon any such contribution of an Excluded Property or the proceeds therefrom, the Special Limited Partner shall receive in exchange for such contribution, notwithstanding the actual value of such Excluded Property or the amount of such proceeds (as the case may be), the Specified Partnership Units applicable to such Excluded Property.

  • The Partnership is expressly authorized to issue the Specified Partnership Units in the numbers specified in this Section 4.9 without any further act, approval or vote of any Partner or any other Persons.

  • Upon any such contribution of an Excluded Property or the proceeds therefrom, WEA shall receive in exchange for such contribution, notwithstanding the actual value of such Excluded Property or the amount of such proceeds (as the case may be), the Specified Partnership Units applicable to such Excluded Property.

Related to Specified Partnership Units

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

  • LP Units means the non-voting limited partnership units in the capital of BEP, other than the Preferred Units, including any LP Units issued pursuant to the Redemption-Exchange Mechanism.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • General Partner Units has the meaning assigned to such term in the Partnership Agreement.

  • Membership Units means the limited liability company interests in the Company held by the Members, expressed as a number of units held by each Member and set forth opposite such Member's name on Schedule I attached hereto, as amended, modified or supplemented from time to time.

  • Deemed Partnership Interest Value means, as of any date with respect to any class of Partnership Interests, the Deemed Value of the Partnership Interests of such class multiplied by the applicable Partner's Percentage Interest of such class.

  • OP Units means units of limited partnership interest in the Operating Partnership.

  • General Partnership Interest means a Partnership Interest held by the General Partner that is a general partnership interest.

  • 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.

  • Class A LP Units means the Class A limited partnership units of the Partnership.

  • Limited Partnership Interest means the ownership interest of a Limited Partner in the Partnership at any particular time, including the right of such Limited Partner to any and all benefits to which such Limited Partner may be entitled as provided in this Agreement and in the Act, together with the obligations of such Limited Partner to comply with all the provisions of this Agreement and of the Act.

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.

  • 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).

  • Initial Common Units means the Common Units sold in the Initial Offering.

  • Class B Units means the Class B Units of the Company.

  • General Partner Interest means a Partnership Interest held by the General Partner, in its capacity as general partner. A General Partner Interest may be expressed as a number of Partnership Units.

  • Common Units is defined in the Partnership Agreement.

  • Initial Limited Partner has the meaning set forth in the Preamble.

  • Derivative Partnership Interests means any options, rights, warrants, appreciation rights, tracking, profit and phantom interests and other derivative securities relating to, convertible into or exchangeable for Partnership Interests.

  • Partnership Percentage means a percentage established for each partner on the Partnership' books as of the first day of each Fiscal Period. The Partnership Percentage of a Partner for a Fiscal Period shall be determined by dividing the amount of the Partner's capital account as of the beginning of the Fiscal Period by the sum of the capital accounts of all of the Partners as of the beginning of the fiscal Period. The sum of the Partnership Percentage for each fiscal Period shall equal one hundred percent (100%).

  • Partnership Unit Designation shall have the meaning set forth in Section 4.2.A hereof.

  • Limited Partner Interest means a Partnership Interest of a Limited Partner in the Partnership representing a fractional part of the Partnership Interests of all Limited Partners and includes any and all benefits to which the holder of such a Partnership Interest may be entitled as provided in this Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement. A Limited Partner Interest may be expressed as a number of Partnership Common Units, Partnership Preferred Units or other Partnership Units.

  • Class A Common Units means a Common Unit which is designated as a “Class A Common Unit” and which has the rights, preferences and other privileges designated in Annex A hereto and elsewhere in this Agreement in respect of holders of Common Units.

  • Initial Limited Partners means the Organizational Limited Partner (with respect to the Common Units and Subordinated Units received by it pursuant to Section 5.2), the General Partner (with respect to the Incentive Distribution Rights) and the Underwriters, in each case upon being admitted to the Partnership in accordance with Section 10.1.

  • Class B Common Units has the meaning set forth in Section 1(a) hereof.

  • General Partner Unit means a fractional part of the General Partner Interest having the rights and obligations specified with respect to the General Partner Interest. A General Partner Unit is not a Unit.