Common use of Establishment of Series a Preferred Units Clause in Contracts

Establishment of Series a Preferred Units. A series of preferred units of the Partnership designated as Series A Preferred Units is hereby established and shall have such preferences and other rights as are described herein. The maximum number of Series A Preferred Units which may be issued by the Partnership from time to time shall be 345,000, and the number of Series A Preferred Units set forth on Schedule A hereto opposite the name of the General Partner are hereby issued to the General Partner in exchange for the capital contribution being made by the General Partner concurrently herewith. Any Series A Preferred Units which may be issued and are thereafter cancelled or converted into Common Units in accordance with the terms hereof shall be retired, and the Partnership shall not reissue any such Series A Preferred Units.