BP Canada Exchange Agreement definition

BP Canada Exchange Agreement means, at any time on or after September 27, 2017, the amended and restated exchange agreement dated September 27, 2017 among the Fund, BPI, the Trust, Holdings LP, BP Canada LP and BPCHP providing for, among other things, the Exchange Rights in respect of the Class 2 GP Units, Class 3 GP Units, Class 4 GP Units and Class 5 GP Units, and at any time prior to September 27, 2017, the prior version of that agreement in effect. See “The Exchange Rights”.

BP Canada Exchange Agreement means the exchange agreement dated May 6, 2015 among the Fund, BPI, the Trust, Holdings LP and BP Canada LP providing for, among other things, the Exchange Rights in respect of the Class 2 GP Units, Class 3 GP Units, Class 4 GP Units and Class 5 GP Units. See “The Exchange Rights”.

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 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.