Common use of Distribution for Other than a Full Distribution Period Clause in Contracts

Distribution for Other than a Full Distribution Period. Subject to the Section 2.1, for any period that is less than a full Distribution Period, with respect to any Series 7 Preferred Limited Partnership Unit (i) that is issued or redeemed during such Distribution Period or (ii) in respect of which assets of the Partnership are distributed to the Holders thereof pursuant to Section 3, the Holders shall be entitled to receive, and the Partnership shall pay thereon, if, as and when declared by the General Partner, out of moneys of the Partnership legally available for distributions under Bermuda law and without regard to the income of the Partnership, Series 7 Distributions as follows: (a) in respect of the period beginning on and including the date of initial issue of the Series 7 Preferred Limited Partnership Units up to and including January 31, 2016 (the “Initial Distribution Period”), a distribution in an amount per Series 7 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) where C$1.375 is multiplied by a fraction, the numerator of which is the number of calendar days from but excluding the date of issue of the Series 7 Preferred Limited Partnership Units up to and including January 31, 2016 and the denominator of which is 365, less any tax required to be deducted and withheld. The Series 7 Distribution payable for the Initial Distribution Period, payable as of January 31, 2016, as calculated by this method shall be C$0.2524 per Series 7 Preferred Limited Partnership Unit; and (b) in respect of any period other than the Initial Distribution Period that is less than a full Distribution Period, a distribution in an amount per Series 7 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) when the product of the Annual Fixed Distribution Rate and C$25.00 is multiplied by a fraction, the numerator of which is the number of calendar days elapsed in the relevant period and the denominator of which is 365, less any tax required to be deducted and withheld.

Distribution for Other than a Full Distribution Period. Subject to the Section 2.1, for any period that is less than a full Distribution Period, with respect to any Series 7 18 Preferred Limited Partnership Unit (i) that is issued or redeemed during such Distribution Period or (ii) in respect of which assets of the Partnership are distributed to the Holders thereof pursuant to Section 3, the Holders shall be entitled to receive, and the Partnership shall pay thereon, if, as and when declared by the General Partner, out of moneys of the Partnership legally available for distributions under Bermuda law and without regard to the income of the Partnership, Series 7 18 Distributions as follows: (a) in respect of the period beginning on and including the date of initial issue of the Series 7 18 Preferred Limited Partnership Units up to and including January July 31, 2016 2022 (the “Initial Distribution Period”), a distribution in an amount per Series 7 18 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) where C$1.375 is multiplied by a fraction, the numerator of which is the number of calendar days from but excluding the date of issue of the Series 7 18 Preferred Limited Partnership Units up to and including January July 31, 2016 2022 and the denominator of which is 365, less any tax required to be deducted and withheld. The Series 7 18 Distribution payable for the Initial Distribution Period, payable as of January July 31, 20162022, as calculated by this method shall be C$0.2524 0.4068 per Series 7 18 Preferred Limited Partnership Unit; and (b) in respect of any period other than the Initial Distribution Period that is less than a full Distribution Period, a distribution in an amount per Series 7 18 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) when the product of the Annual Fixed Distribution Rate and C$25.00 1.375 is multiplied by a fraction, the numerator of which is the number of calendar days elapsed in the relevant period and the denominator of which is 365, less any tax required to be deducted and withheld.

Distribution for Other than a Full Distribution Period. Subject to the Section 2.1, for any period that is less than a full Distribution Period, with respect to any Series 7 15 Preferred Limited Partnership Unit (i) that is issued or redeemed during such Distribution Period or (ii) in respect of which assets of the Partnership are distributed to the Holders thereof pursuant to Section 3, the Holders shall be entitled to receive, and the Partnership shall pay thereon, if, as and when declared by the General Partner, out of moneys of the Partnership legally available for distributions under Bermuda law and without regard to the income of the Partnership, Series 7 15 Distributions as follows: (a) in respect of the period beginning on and including the date of initial issue of the Series 7 15 Preferred Limited Partnership Units up to and including January 31April 30, 2016 2019 (the “Initial Distribution Period”), a distribution in an amount per Series 7 15 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) where C$1.375 1.4375 is multiplied by a fraction, the numerator of which is the number of calendar days from but excluding the date of issue of the Series 7 15 Preferred Limited Partnership Units up to and including January 31April 30, 2016 2019 and the denominator of which is 365, less any tax required to be deducted and withheld. The Series 7 15 Distribution payable for the Initial Distribution Period, payable as of January 31April 30, 20162019, as calculated by this method shall be C$0.2524 0.1969 per Series 7 15 Preferred Limited Partnership Unit; and (b) in respect of any period other than the Initial Distribution Period that is less than a full Distribution Period, a distribution in an amount per Series 7 15 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) when the product of the Annual Fixed Distribution Rate and C$25.00 is multiplied by a fraction, the numerator of which is the number of calendar days elapsed in the relevant period and the denominator of which is 365, less any tax required to be deducted and withheld.

Distribution for Other than a Full Distribution Period. Subject to the Section 2.1, for any period that is less than a full Distribution Period, with respect to any Series 7 13 Preferred Limited Partnership Unit (i) that is issued or redeemed during such Distribution Period or (ii) in respect of which assets of the Partnership are distributed to the Holders thereof pursuant to Section 3, the Holders shall be entitled to receive, and the Partnership shall pay thereon, if, as and when declared by the General Partner, out of moneys of the Partnership legally available for distributions under Bermuda law and without regard to the income of the Partnership, Series 7 13 Distributions as follows: (a) in respect of the period beginning on and including the date of initial issue of the Series 7 13 Preferred Limited Partnership Units up to and including January 31April 30, 2016 2018 (the “Initial Distribution Period”), a distribution in an amount per Series 7 13 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) where C$1.375 1.25 is multiplied by a fraction, the numerator of which is the number of calendar days from but excluding the date of issue of the Series 7 13 Preferred Limited Partnership Units up to and including January 31April 30, 2016 2018 and the denominator of which is 365, less any tax required to be deducted and withheld. The Series 7 13 Distribution payable for the Initial Distribution Period, payable as of January 31April 30, 20162018, as calculated by this method shall be C$0.2524 0.3562 per Series 7 13 Preferred Limited Partnership Unit; and (b) in respect of any period other than the Initial Distribution Period that is less than a full Distribution Period, a distribution in an amount per Series 7 13 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) when the product of the Annual Fixed Distribution Rate and C$25.00 is multiplied by a fraction, the numerator of which is the number of calendar days elapsed in the relevant period and the denominator of which is 365, less any tax required to be deducted and withheld.

Distribution for Other than a Full Distribution Period. Subject to the Section 2.1, for any period that is less than a full Distribution Period, with respect to any Series 7 3 Preferred Limited Partnership Unit (i) that is issued or redeemed during such Distribution Period or (ii) in respect of which assets of the Partnership are distributed to the Holders thereof pursuant to Section 3, the Holders shall be entitled to receive, and the Partnership shall pay thereon, if, as and when declared by the General Partner, out of moneys of the Partnership legally available for distributions under Bermuda law and without regard to the income of the Partnership, Series 7 3 Distributions as follows: (a) in respect of the period beginning on and including the date of initial issue of the Series 7 3 Preferred Limited Partnership Units up to and including January March 31, 2016 (the “Initial Distribution Period”), a distribution in an amount per Series 7 3 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) where C$1.375 is multiplied by a fraction, the numerator of which is the number of calendar days from but excluding the date of issue of the Series 7 3 Preferred Limited Partnership Units up to and including January March 31, 2016 and the denominator of which is 365, less any tax required to be deducted and withheld. The Series 7 3 Distribution payable for the Initial Distribution Period, payable as of January March 31, 2016, as calculated by this method shall be C$0.2524 0.4295 per Series 7 3 Preferred Limited Partnership Unit; and (b) in respect of any period other than the Initial Distribution Period that is less than a full Distribution Period, a distribution in an amount per Series 7 3 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) when the product of the Annual Fixed Distribution Rate and C$25.00 is multiplied by a fraction, the numerator of which is the number of calendar days elapsed in the relevant period and the denominator of which is 365, less any tax required to be deducted and withheld.

Distribution for Other than a Full Distribution Period. Subject to the Section 2.1, for any period that is less than a full Distribution Period, with respect to any Series 7 9 Preferred Limited Partnership Unit (i) that is issued or redeemed during such Distribution Period or (ii) in respect of which assets of the Partnership are distributed to the Holders thereof pursuant to Section 3, the Holders shall be entitled to receive, and the Partnership shall pay thereon, if, as and when declared by the General Partner, out of moneys of the Partnership legally available for distributions under Bermuda law and without regard to the income of the Partnership, Series 7 9 Distributions as follows: (a) in respect of the period beginning on and including the date of initial issue of the Series 7 9 Preferred Limited Partnership Units up to and including January July 31, 2016 (the “Initial Distribution Period”), a distribution in an amount per Series 7 9 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) where C$1.375 1.4375 is multiplied by a fraction, the numerator of which is the number of calendar days from but excluding the date of issue of the Series 7 9 Preferred Limited Partnership Units up to and including January July 31, 2016 and the denominator of which is 365, less any tax required to be deducted and withheld. The Series 7 9 Distribution payable for the Initial Distribution Period, payable as of January July 31, 2016, as calculated by this method shall be C$0.2524 0.2639 per Series 7 9 Preferred Limited Partnership Unit; and (b) in respect of any period other than the Initial Distribution Period that is less than a full Distribution Period, a distribution in an amount per Series 7 9 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) when the product of the Annual Fixed Distribution Rate and C$25.00 is multiplied by a fraction, the numerator of which is the number of calendar days elapsed in the relevant period and the denominator of which is 365, less any tax required to be deducted and withheld.

Distribution for Other than a Full Distribution Period. Subject to the Section 2.1, for any period that is less than a full Distribution Period, with respect to any Series 7 5 Preferred Limited Partnership Unit (i) that is issued or redeemed during such Distribution Period or (ii) in respect of which assets of the Partnership are distributed to the Holders thereof pursuant to Section 3, the Holders shall be entitled to receive, and the Partnership shall pay thereon, if, as and when declared by the Managing General Partner, out of moneys of the Partnership legally available for distributions under Bermuda law and without regard to the income of the Partnership, Series 7 5 Distributions as follows: (a) in respect of the period beginning on and including the date of initial issue of the Series 7 5 Preferred Limited Partnership Units up to and including January 31September 30, 2016 (the “Initial Distribution Period”), a distribution in an amount per Series 7 5 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) where C$1.375 1.3375 is multiplied by a fraction, the numerator of which is the number of calendar days from but excluding the date of issue of the Series 7 5 Preferred Limited Partnership Units up to and including January 31September 30, 2016 and the denominator of which is 365, less any tax required to be deducted and withheld. The Series 7 5 Distribution payable for the Initial Distribution Period, payable as of January 31September 30, 2016, as calculated by this method shall be C$0.2524 0.2162 per Series 7 5 Preferred Limited Partnership Unit; and (b) in respect of any period other than the Initial Distribution Period that is less than a full Distribution Period (other than the Initial Distribution Period), a distribution in an amount per Series 7 5 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) when the product of the Annual Fixed Distribution Rate and C$25.00 is multiplied by a fraction, the numerator of which is the number of calendar days elapsed in the relevant period and the denominator of which is 365, less any tax required to be deducted and withheld.

Distribution for Other than a Full Distribution Period. Subject to the Section 2.1, for any period that is less than a full Distribution Period, with respect to any Series 7 11 Preferred Limited Partnership Unit (i) that is issued or redeemed during such Distribution Period or (ii) in respect of which assets of the Partnership are distributed to the Holders thereof pursuant to Section 3, the Holders shall be entitled to receive, and the Partnership shall pay thereon, if, as and when declared by the General Partner, out of moneys of the Partnership legally available for distributions under Bermuda law and without regard to the income of the Partnership, Series 7 11 Distributions as follows: (a) in respect of the period beginning on and including the date of initial issue of the Series 7 11 Preferred Limited Partnership Units up to and including January 31April 30, 2016 2017 (the “Initial Distribution Period”), a distribution in an amount per Series 7 11 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) where C$1.375 1.25 is multiplied by a fraction, the numerator of which is the number of calendar days from but excluding the date of issue of the Series 7 11 Preferred Limited Partnership Units up to and including January 31April 30, 2016 2017 and the denominator of which is 365, less any tax required to be deducted and withheld. The Series 7 11 Distribution payable for the Initial Distribution Period, payable as of January 31April 30, 20162017, as calculated by this method shall be C$0.2524 0.2568 per Series 7 11 Preferred Limited Partnership Unit; and (b) in respect of any period other than the Initial Distribution Period that is less than a full Distribution Period, a distribution in an amount per Series 7 11 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) when the product of the Annual Fixed Distribution Rate and C$25.00 is multiplied by a fraction, the numerator of which is the number of calendar days elapsed in the relevant period and the denominator of which is 365, less any tax required to be deducted and withheld.

Distribution for Other than a Full Distribution Period. Subject to the Section 2.1, for any period that is less than a full Distribution Period, with respect to any Series 7 Preferred Limited Partnership Unit (i) that is issued or redeemed during such Distribution Period or (ii) in respect of which assets of the Partnership are distributed to the Holders thereof pursuant to Section 3, the Holders shall be entitled to receive, and the Partnership shall pay thereon, if, as and when declared by the General Partner, out of moneys of the Partnership legally available for distributions under Bermuda law and without regard to the income of the Partnership, Series 7 Distributions as follows: (a) in respect of the period beginning on and including the date of initial issue of the Series 7 Preferred Limited Partnership Units up to and including January March 31, 2016 2017 (the “Initial Distribution Period”), a distribution in an amount per Series 7 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) where C$1.375 1.25 is multiplied by a fraction, the numerator of which is the number of calendar days from but excluding the date of issue of the Series 7 Preferred Limited Partnership Units up to and including January March 31, 2016 2017 and the denominator of which is 365, less any tax required to be deducted and withheld. The Series 7 Distribution payable for the Initial Distribution Period, payable as of January March 31, 20162017, as calculated by this method shall be C$0.2524 0.2192 per Series 7 Preferred Limited Partnership Unit; and (b) in respect of any period other than the Initial Distribution Period that is less than a full Distribution Period (other than the Initial Distribution Period), a distribution in an amount per Series 7 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) when the product of the Annual Fixed Distribution Rate and C$25.00 is multiplied by a fraction, the numerator of which is the number of calendar days elapsed in the relevant period and the denominator of which is 365, less any tax required to be deducted and withheld.

Distribution for Other than a Full Distribution Period. Subject to the Section 2.1, for any period that is less than a full Distribution Period, with respect to any Series 7 1 Preferred Limited Partnership Unit (i) that is issued issued, redeemed, reclassified or redeemed purchased during such Distribution Period or (ii) in respect of which assets of the Partnership are distributed to the Holders thereof pursuant to Section 3, the Holders shall be entitled to receive, and the Partnership shall pay thereon, if, as and when declared by the General Partner, out of moneys of the Partnership legally available for properly applicable to the payment of distributions under Bermuda law and without regard to the income of the Partnership, Series 7 1 Distributions as follows: (a) in respect of the period beginning on and including the date of initial issue of the Series 7 1 Preferred Limited Partnership Units up to and including January 31June 30, 2016 2015 (the “Initial Distribution Period”), a distribution in an amount per Series 7 1 Preferred Limited Partnership Unit Units equal to the amount obtained (rounded to four decimal places) where C$1.375 1.125 is multiplied by a fraction, the numerator of which is the number of calendar days from but excluding the date of issue of the Series 7 1 Preferred Limited Partnership Units up to and including January 31June 30, 2016 2015 and the denominator of which is 365, less any tax required to be deducted and withheld. The Series 7 1 Distribution payable for the Initial Distribution Period, payable as of January 31June 30, 20162015, as calculated by this method shall be C$0.2524 0.3390 per Series 7 1 Preferred Limited Partnership Unit; andUnits; (b) in respect of any period other than the Initial Distribution Period that is less than a full Distribution Period, a distribution in an amount per Series 7 1 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) when the product of the Annual Fixed Distribution Rate and C$25.00 is multiplied by a fraction, the numerator of which is the number of calendar days elapsed in the relevant period and the denominator of which is 365, less any tax required to be deducted and withheld.

Distribution for Other than a Full Distribution Period. Subject to the Section 2.1, for any period that is less than a full Distribution Period, with respect to any Series 7 9 Preferred Limited Partnership Unit (i) that is issued or redeemed during such Distribution Period or (ii) in respect of which assets of the Partnership are distributed to the Holders thereof pursuant to Section 3, the Holders shall be entitled to receive, and the Partnership shall pay thereon, if, as and when declared by the General Partner, out of moneys of the Partnership legally available for distributions under Bermuda law and without regard to the income of the Partnership, Series 7 9 Distributions as follows: (a) in respect of the period beginning on and including the date of initial issue of the Series 7 9 Preferred Limited Partnership Units up to and including January March 31, 2016 2018 (the “Initial Distribution Period”), a distribution in an amount per Series 7 9 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) where C$1.375 1.25 is multiplied by a fraction, the numerator of which is the number of calendar days from but excluding the date of issue of the Series 7 9 Preferred Limited Partnership Units up to and including January March 31, 2016 2018 and the denominator of which is 365, less any tax required to be deducted and withheld. The Series 7 9 Distribution payable for the Initial Distribution Period, payable as of January March 31, 20162018, as calculated by this method shall be C$0.2524 0.2295 per Series 7 9 Preferred Limited Partnership Unit; and (b) in respect of any period other than the Initial Distribution Period that is less than a full Distribution Period (other than the Initial Distribution Period), a distribution in an amount per Series 7 9 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) when the product of the Annual Fixed Distribution Rate and C$25.00 is multiplied by a fraction, the numerator of which is the number of calendar days elapsed in the relevant period and the denominator of which is 365, less any tax required to be deducted and withheld.

Distribution for Other than a Full Distribution Period. Subject to the Section 2.1, for any period that is less than a full Distribution Period, with respect to any Series 7 3 Preferred Limited Partnership Unit (i) that is issued or redeemed during such Distribution Period or (ii) in respect of which assets of the Partnership are distributed to the Holders thereof pursuant to Section 3, the Holders shall be entitled to receive, and the Partnership shall pay thereon, if, as and when declared by the Managing General Partner, out of moneys of the Partnership legally available for distributions under Bermuda law and without regard to the income of the Partnership, Series 7 3 Distributions as follows: (a) in respect of the period beginning on and including the date of initial issue of the Series 7 3 Preferred Limited Partnership Units up to and including January March 31, 2016 (the “Initial Distribution Period”), a distribution in an amount per Series 7 3 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) where C$1.375 is multiplied by a fraction, the numerator of which is the number of calendar days from but excluding the date of issue of the Series 7 3 Preferred Limited Partnership Units up to and including January March 31, 2016 and the denominator of which is 365, less any tax required to be deducted and withheld. The Series 7 3 Distribution payable for the Initial Distribution Period, payable as of January March 31, 2016, as calculated by this method shall be C$0.2524 0.4295 per Series 7 3 Preferred Limited Partnership Unit; and (b) in respect of any period other than the Initial Distribution Period that is less than a full Distribution Period, a distribution in an amount per Series 7 3 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) when the product of the Annual Fixed Distribution Rate and C$25.00 is multiplied by a fraction, the numerator of which is the number of calendar days elapsed in the relevant period and the denominator of which is 365, less any tax required to be deducted and withheld.

Distribution for Other than a Full Distribution Period. Subject to the Section 2.1, for any period that is less than a full Distribution Period, with respect to any Series 7 Preferred Limited Partnership Unit (i) that is issued or redeemed during such Distribution Period or (ii) in respect of which assets of the Partnership are distributed to the Holders thereof pursuant to Section 3, the Holders shall be entitled to receive, and the Partnership shall pay thereon, if, as and when declared by the Managing General Partner, out of moneys of the Partnership legally available for distributions under Bermuda law and without regard to the income of the Partnership, Series 7 Distributions as follows: (a) in respect of the period beginning on and including the date of initial issue of the Series 7 Preferred Limited Partnership Units up to and including January March 31, 2016 2017 (the “Initial Distribution Period”), a distribution in an amount per Series 7 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) where C$1.375 1.25 is multiplied by a fraction, the numerator of which is the number of calendar days from but excluding the date of issue of the Series 7 Preferred Limited Partnership Units up to and including January March 31, 2016 2017 and the denominator of which is 365, less any tax required to be deducted and withheld. The Series 7 Distribution payable for the Initial Distribution Period, payable as of January March 31, 20162017, as calculated by this method shall be C$0.2524 0.2192 per Series 7 Preferred Limited Partnership Unit; and (b) in respect of any period other than the Initial Distribution Period that is less than a full Distribution Period (other than the Initial Distribution Period), a distribution in an amount per Series 7 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) when the product of the Annual Fixed Distribution Rate and C$25.00 is multiplied by a fraction, the numerator of which is the number of calendar days elapsed in the relevant period and the denominator of which is 365, less any tax required to be deducted and withheld.

Distribution for Other than a Full Distribution Period. Subject to the Section 2.1, for any period that is less than a full Distribution Period, with respect to any Series 7 5 Preferred Limited Partnership Unit (i) that is issued or redeemed during such Distribution Period or (ii) in respect of which assets of the Partnership are distributed to the Holders thereof pursuant to Section 3, the Holders shall be entitled to receive, and the Partnership shall pay thereon, if, as and when declared by the General Partner, out of moneys of the Partnership legally available for distributions under Bermuda law and without regard to the income of the Partnership, Series 7 5 Distributions as follows: (a) in respect of the period beginning on and including the date of initial issue of the Series 7 5 Preferred Limited Partnership Units up to and including January 31September 30, 2016 (the “Initial Distribution Period”), a distribution in an amount per Series 7 5 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) where C$1.375 1.3375 is multiplied by a fraction, the numerator of which is the number of calendar days from but excluding the date of issue of the Series 7 5 Preferred Limited Partnership Units up to and including January 31September 30, 2016 and the denominator of which is 365, less any tax required to be deducted and withheld. The Series 7 5 Distribution payable for the Initial Distribution Period, payable as of January 31September 30, 2016, as calculated by this method shall be C$0.2524 0.2162 per Series 7 5 Preferred Limited Partnership Unit; and (b) in respect of any period other than the Initial Distribution Period that is less than a full Distribution Period (other than the Initial Distribution Period), a distribution in an amount per Series 7 5 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) when the product of the Annual Fixed Distribution Rate and C$25.00 is multiplied by a fraction, the numerator of which is the number of calendar days elapsed in the relevant period and the denominator of which is 365, less any tax required to be deducted and withheld.

Distribution for Other than a Full Distribution Period. Subject to the Section 2.1, for any period that is less than a full Distribution Period, with respect to any Series 7 11 Preferred Limited Partnership Unit (i) that is issued or redeemed during such Distribution Period or (ii) in respect of which assets of the Partnership are distributed to the Holders thereof pursuant to Section 3, the Holders shall be entitled to receive, and the Partnership shall pay thereon, if, as and when declared by the General Partner, out of moneys of the Partnership legally available for distributions under Bermuda law and without regard to the income of the Partnership, Series 7 11 Distributions as follows: (a) in respect of the period beginning on and including the date of initial issue of the Series 7 11 Preferred Limited Partnership Units up to and including January December 31, 2016 2018 (the “Initial Distribution Period”), a distribution in an amount per Series 7 11 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) where C$1.375 1.275 is multiplied by a fraction, the numerator of which is the number of calendar days from but excluding the date of issue of the Series 7 11 Preferred Limited Partnership Units up to and including January December 31, 2016 2018 and the denominator of which is 365, less any tax required to be deducted and withheld. The Series 7 11 Distribution payable for the Initial Distribution Period, payable as of January December 31, 20162018, as calculated by this method shall be C$0.2524 0.3842 per Series 7 11 Preferred Limited Partnership Unit; and (b) in respect of any period other than the Initial Distribution Period that is less than a full Distribution Period (other than the Initial Distribution Period), a distribution in an amount per Series 7 11 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) when the product of the Annual Fixed Distribution Rate and C$25.00 is multiplied by a fraction, the numerator of which is the number of calendar days elapsed in the relevant period and the denominator of which is 365, less any tax required to be deducted and withheld.

Distribution for Other than a Full Distribution Period. Subject to the Section 2.1, for any period that is less than a full Distribution Period, with respect to any Series 7 11 Preferred Limited Partnership Unit (i) that is issued or redeemed during such Distribution Period or (ii) in respect of which assets of the Partnership are distributed to the Holders thereof pursuant to Section 3, the Holders shall be entitled to receive, and the Partnership shall pay thereon, if, as and when declared by the Managing General Partner, out of moneys of the Partnership legally available for distributions under Bermuda law and without regard to the income of the Partnership, Series 7 11 Distributions as follows: (a) in respect of the period beginning on and including the date of initial issue of the Series 7 11 Preferred Limited Partnership Units up to and including January December 31, 2016 2018 (the “Initial Distribution Period”), a distribution in an amount per Series 7 11 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) where C$1.375 1.275 is multiplied by a fraction, the numerator of which is the number of calendar days from but excluding the date of issue of the Series 7 11 Preferred Limited Partnership Units up to and including January December 31, 2016 2018 and the denominator of which is 365, less any tax required to be deducted and withheld. The Series 7 11 Distribution payable for the Initial Distribution Period, payable as of January December 31, 20162018, as calculated by this method shall be C$0.2524 0.3842 per Series 7 11 Preferred Limited Partnership Unit; and (b) in respect of any period other than the Initial Distribution Period that is less than a full Distribution Period (other than the Initial Distribution Period), a distribution in an amount per Series 7 11 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) when the product of the Annual Fixed Distribution Rate and C$25.00 is multiplied by a fraction, the numerator of which is the number of calendar days elapsed in the relevant period and the denominator of which is 365, less any tax required to be deducted and withheld.

Distribution for Other than a Full Distribution Period. Subject to the Section 2.1, for any period that is less than a full Distribution Period, with respect to any Series 7 Preferred Limited Partnership Unit (i) that is issued or redeemed during such Distribution Period or (ii) in respect of which assets of the Partnership are distributed to the Holders thereof pursuant to Section 3, the Holders shall be entitled to receive, and the Partnership shall pay thereon, if, as and when declared by the General Partner, out of moneys of the Partnership legally available for distributions under Bermuda law and without regard to the income of the Partnership, Series 7 Distributions as follows: (a) in respect of the period beginning on and including the date of initial issue of the Series 7 Preferred Limited Partnership Units up to and including January 31, 2016 (the “"Initial Distribution Period”"), a distribution in an amount per Series 7 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) where C$1.375 is multiplied by a fraction, the numerator of which is the number of calendar days from but excluding the date of issue of the Series 7 Preferred Limited Partnership Units up to and including January 31, 2016 and the denominator of which is 365, less any tax required to be deducted and withheld. The Series 7 Distribution payable for the Initial Distribution Period, payable as of January 31, 2016, as calculated by this method shall be C$0.2524 per Series 7 Preferred Limited Partnership Unit; and (b) in respect of any period other than the Initial Distribution Period that is less than a full Distribution Period, a distribution in an amount per Series 7 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) when the product of the Annual Fixed Distribution Rate and C$25.00 is multiplied by a fraction, the numerator of which is the number of calendar days elapsed in the relevant period and the denominator of which is 365, less any tax required to be deducted and withheld.

Distribution for Other than a Full Distribution Period. Subject to the Section 2.1, for any period that is less than a full Distribution Period, with respect to any Series 7 1 Preferred Limited Partnership Unit (i) that is issued issued, redeemed, reclassified or redeemed purchased during such Distribution Period or (ii) in respect of which assets of the Partnership are distributed to the Holders thereof pursuant to Section 3, the Holders shall be entitled to receive, and the Partnership shall pay thereon, if, as and when declared by the Managing General Partner, out of moneys of the Partnership legally available for properly applicable to the payment of distributions under Bermuda law and without regard to the income of the Partnership, Series 7 1 Distributions as follows: (a) in respect of the period beginning on and including the date of initial issue of the Series 7 1 Preferred Limited Partnership Units up to and including January 31June 30, 2016 2015 (the “Initial Distribution Period”), a distribution in an amount per Series 7 1 Preferred Limited Partnership Unit Units equal to the amount obtained (rounded to four decimal places) where C$1.375 1.125 is multiplied by a fraction, the numerator of which is the number of calendar days from but excluding the date of issue of the Series 7 1 Preferred Limited Partnership Units up to and including January 31June 30, 2016 2015 and the denominator of which is 365, less any tax required to be deducted and withheld. The Series 7 1 Distribution payable for the Initial Distribution Period, payable as of January 31June 30, 20162015, as calculated by this method shall be C$0.2524 0.3390 per Series 7 1 Preferred Limited Partnership Unit; andUnits; (b) in respect of any period other than the Initial Distribution Period that is less than a full Distribution Period, a distribution in an amount per Series 7 1 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) when the product of the Annual Fixed Distribution Rate and C$25.00 is multiplied by a fraction, the numerator of which is the number of calendar days elapsed in the relevant period and the denominator of which is 365, less any tax required to be deducted and withheld.

Distribution for Other than a Full Distribution Period. Subject to the Section 2.1, for any period that is less than a full Distribution Period, with respect to any Series 7 9 Preferred Limited Partnership Unit (i) that is issued or redeemed during such Distribution Period or (ii) in respect of which assets of the Partnership are distributed to the Holders thereof pursuant to Section 3, the Holders shall be entitled to receive, and the Partnership shall pay thereon, if, as and when declared by the Managing General Partner, out of moneys of the Partnership legally available for distributions under Bermuda law and without regard to the income of the Partnership, Series 7 9 Distributions as follows: (a) in respect of the period beginning on and including the date of initial issue of the Series 7 9 Preferred Limited Partnership Units up to and including January March 31, 2016 2018 (the “Initial Distribution Period”), a distribution in an amount per Series 7 9 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) where C$1.375 1.25 is multiplied by a fraction, the numerator of which is the number of calendar days from but excluding the date of issue of the Series 7 9 Preferred Limited Partnership Units up to and including January March 31, 2016 2018 and the denominator of which is 365, less any tax required to be deducted and withheld. The Series 7 9 Distribution payable for the Initial Distribution Period, payable as of January March 31, 20162018, as calculated by this method shall be C$0.2524 0.2295 per Series 7 9 Preferred Limited Partnership Unit; and (b) in respect of any period other than the Initial Distribution Period that is less than a full Distribution Period (other than the Initial Distribution Period), a distribution in an amount per Series 7 9 Preferred Limited Partnership Unit equal to the amount obtained (rounded to four decimal places) when the product of the Annual Fixed Distribution Rate and C$25.00 is multiplied by a fraction, the numerator of which is the number of calendar days elapsed in the relevant period and the denominator of which is 365, less any tax required to be deducted and withheld.