Series 1 Preferred Unit Distribution Rate definition

Series 1 Preferred Unit Distribution Rate means the quotient of (i) the product of (x) the Rate Re-Set Pricing as of the most recent Rate Re-Set Pricing Date and (y) the Series 1 Preferred Unit Price divided by (ii) four.
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Series 1 Preferred Unit Distribution Rate means the quotient of (A) the product of (1) 7.50% and (2) the Series 1 Preferred Unit Price divided by (B) four (the “Pre-Rate Reset Amount”) (provided, however, that with respect to the period commencing on the Series 1 Preferred Unit Issuance Date and ending on the last day of the calendar quarter in which the Series 1 Preferred Unit Issuance Date occurs, “Series 1 Preferred Unit Distribution Rate” shall mean the Pre-Rate Reset Amount multiplied by a fraction of which the numerator is the number of days in such period and the denominator is 90), until the initial Rate Re-Set Pricing Date, and thereafter, “Series 1 Preferred Unit Distribution Rate” means the quotient of (i) the product of (x) the Rate Re-Set Pricing as of the most recent Rate Re-Set Pricing Date and (y) the Series 1 Preferred Unit Price divided by (ii) four.
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Related to Series 1 Preferred Unit Distribution Rate

  • Series A Preferred Unit means a Preferred Unit having the designations, preferences, rights, powers and duties set forth in Article XVI.

  • Series A Distribution Rate means 6.375%.

  • Preferred Unit means a fractional share of the Partnership Interests that the General Partner has authorized pursuant to Sections 4.01, 4.03 or 4.04 hereof that has distribution rights, or rights upon liquidation, winding up and dissolution, that are superior or prior to the OP Units.

  • Class C Distribution Amount With respect to any Distribution Date, the sum of (i) the Current Interest for the Class C Interest for such Distribution Date, (ii) any Overcollateralization Release Amount for such Distribution Date and (iii) without duplication, any Subsequent Recoveries not distributed to the Class A, Class M and Class B Certificates on such Distribution Date; provided, however, that, on any Distribution Date after the Distribution Date on which the Certificate Principal Balances of the Class A, Class M and Class B Certificates have been reduced to zero, the Class C Distribution Amount shall include the Overcollateralization Amount.

  • Series A Preferred Units has the meaning assigned to such term in Section 5.11(a).