Issuance of Units to BBP. If, and to the extent that, BBP raises funds by way of the issuance of equity or debt securities, or otherwise, and is required under the BBP Partnership Agreement to use the proceeds of such issuance of securities to subscribe for Managing General Partner Units, BBP shall, unless otherwise agreed by BBP and the Partnership, invest an amount equal to the gross proceeds of such issuance (the “Gross Proceeds”) for a number of Managing General Partner Units (the “Subscription Number”) equal to (i) the quotient of the amount of the Gross Proceeds divided by the issue price of one BBP Unit (in the case of an issuance of BBP Units) or the Market Value of one BBP Unit (in the case of an issuance of another security), multiplied by (ii) the inverse of the Exchange Ratio.
Appears in 4 contracts
Samples: Limited Partnership Agreement (Brookfield Business Partners L.P.), Limited Partnership Agreement, Agreement (Brookfield Business Partners L.P.)
