Senior Preferred Unit

Example Definitions of "Senior Preferred Unit"
Senior Preferred Unit. Partnership Units representing any class or series of Partnership Interests (which for the avoidance of doubt, excludes any convertible debt securities) now or hereafter issued and outstanding, the terms of which specifically provide that such Partnership Interests by their terms rank senior to the Series A Preferred Units with respect to payment of distributions and amounts upon liquidation, dissolution or winding up of the affairs of the Partnership.
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