Examples of BP Canada Exchange Agreement in a sentence
The BP Canada Exchange Agreement contemplates that, upon any exchange of Class 2 GP Units, Class 3 GP Units, Class 4 GP Units, Class 5 GP Units or Class B Units, BPI will cause its Class B Relative Percentage Interest, Class 2 Relative Percentage Interest, Class 3 Relative Percentage Interest, Class 4 Relative Percentage Interest and Class 5 Relative Percentage Interest (to the extent the applicable BP Canada GP Units have previously been exchanged), respectively, to remain within 0.1% of each other.
Transfer of BP Canada LP Securities Except as expressly permitted or required under the Governance Agreement or the BP Canada Exchange Agreement, no securities of BP Canada LP will be permitted to be transferred or assigned except with the written consent of each partner.
The Fund, BP Canada LP and BPI will enter into the BP Canada Exchange Agreement, pursuant to which the Fund will agree to issue Units or pay a combination of cash and Units to BPI in exchange for the cancellation of BP Canada GP Units held by BPI subject to and in accordance with the terms thereof and the terms of the BP Canada LP Agreement, with the Class 2 GP Units initially exchangeable for 752,387 Units (enabling BPI to maintain its 13.0% retained interest in the Fund).
The BP Canada Exchange Agreement will contemplate that, upon any exchange of Class 2 GP Units, Class 3 GP Units, Class 4 GP Units, Class 5 GP Units or Class B Units, BPI will cause its Class B Relative Percentage Interest, Class 2 Relative Percentage Interest, Class 3 Relative Percentage Interest, Class 4 Relative Percentage Interest and Class 5 Relative Percentage Interest (to the extent the applicable BP Canada GP Units have previously been exchanged), respectively, to remain within 0.1% of each other.
THE EXCHANGE RIGHTS Pursuant to the Royalties Limited Partnership Agreement, Royalties Exchange Agreement, BP Canada Limited Partnership Agreement and the BP Canada Exchange Agreement, BPI (or a Related Party to whom the applicable units have been transferred) has the right to exchange Class B Units, Class 2 GP Units, Class 3 GP Units, Class 4 GP Units and Class 5 GP Units, for Units, and Class C Units (for indebtedness under the BP Loan).
Under the BP Canada Exchange Agreement, BPI may only increase the Fund’s Franchise Revenue Participation if the Business is generating sufficient EBITDA for BPI and BP Canada LP to distribute the Fund’s Franchise Revenue Participation on a going-forward basis.
Under the BP Canada Exchange Agreement, BPI may only increase the Fund’s Franchise Sales Participation if BPI’s business is generating sufficient EBITDA for BPI and BP Canada LP to distribute the Fund’s Franchise Sales Participation on a going-forward basis.
Cassell and Symon (1995) suggest that triangulating data by using several data collection approaches is particularly important when undertaking organisational research.
Class 2 GP Units, Class 3 GP Units, Class 4 GP Units and Class 5 GP Units Pursuant to the BP Canada Limited Partnership Agreement and BP Canada Exchange Agreement, the Class 2 GP Units, Class 3 GP Units, Class 4 GP Units and Class 5 GP Units each have the right to be exchanged by the holder for either Units or a combination of cash and Units.
On May 6, 2015, the Fund, certain of its subsidiaries, BPI and BP Canada LP entered into the BP Canada Exchange Agreement pursuant to which the Fund agreed to issue Units or pay a combination of cash and Units to BPI in exchange for Class 2 GP Units, Class 3 GP Units, Class 4 GP Units, and Class 5 GP Units held by BPI.