Liquidation Preference

Liquidation Preference. Means, with respect to any Series B Preferred Unit, the greater of (a) the amount necessary for the Holder of such share to achieve a 12.0% annual internal rate of return on the Issuance Price, taking into account distribution paid (and the dates of such payment) from the Original Issue Date until (i) the date of the voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Partnership, (ii) the Conversion Date, or (iii) the Redemption Date, as the case may be, and... (b) $21.89 (subject to proportionate adjustment in the event of a unit split, unit distribution, combination or other proportionate reduction or increase to the Partnership Units), plus accrued and unpaid distributions, whether or not declared, through and including (x) the date of such voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Partnership, (y) the Conversion Date, or (z) the Redemption Date, as the case may be. View More

Liquidation Preference. An amount equal to liquidation preference per share of the Series A-1 Preferred Stock as of the Automatic Conversation Date pursuant to the terms of the Certificate of Designation.