Uniformity Action definition
Uniformity Action means any adoption of conventions, any making of special allocations, and any making of amendments to this Agreement by the General Partner in accordance with this Agreement in an effort to result in, as a substantive matter, like intrinsic economic and federal income tax characteristics, in all material respects, among the Common Units (including any Converted Units), the Subordinated Units or other Limited Partners Interests (or any class or classes thereof).
Uniformity Action and “Warrants” in Section 1.1, Section 4.7(b), Section 5.8, Section 6.1(d)(x)(A), Section 6.1(d)(x)(D), Section 6.1(d)(xii), Section 6.1(d)(xiii)(D), Section 6.2(c), Section 6.7(c), Section 6.8(b), Section 6.10, Section 9.5, Section 13.1(d) and/or Section 16.7 in a manner that is adverse to the Exchangeable PIK Notes, the Warrants and/or the holders of any thereof, or the holders of Converted Units, shall be approved without the prior written consent of (i) (in the case of any such amendment that is adverse to the Exchangeable PIK Notes or the holders thereof) the holders of not less than a majority of the aggregate principal amount of outstanding Exchangeable PIK Notes, (ii) (in the case of any such amendment that is adverse to the Warrants or the holders thereof) the holders of not less than a majority of the Warrants, or (ii) (in the case of any such amendment that is adverse to the holders of the Converted Units) the holders of not less than a majority of the Converted Units.
Examples of Uniformity Action in a sentence
Notwithstanding any other provision of this Agreement, any Uniformity Action with respect to Converted Units shall be made in a manner that defers, to the maximum extent possible, the recognition of taxable income by the holders of Converted Units (including, by way of example, allocating profits attributable to Unrealized Gain or Net Termination Gain to such holders).