Examples of BP Canada LP in a sentence
Nevertheless, BP Canada LP periodically conducts audits of the Franchise Sales reported to it by its franchisees, and the Franchise Sales reported herein include results from sales audits of earlier periods.
Limited partnership unitsThe investment in BP Canada LP is comprised of Class 1 limited partnership units (“Class 1 LP Units”) and Class 2 limited partnership units (“Class 2 LP Units”).
BPI is prohibited, without the consent of Holdings LP, from dissolving BP Canada LP or selling, exchanging or otherwise disposing of all or substantially all of the assets of BP Canada LP.
The amount of income allocated to a partner may exceed or be less than the amount of cash distributed by BP Canada LP to that partner.
No Compensation of General Partner BPI is not entitled to any fee for the performance of its duties as general partner of BP Canada LP, and will only receive funds from BP Canada LP as distributions on its BP Canada GP Units or as reimbursement for out-of-pocket costs incurred in the performance of its duties as general partner of BP Canada LP.
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.
Voting Except as expressly provided for in the BP Canada Limited Partnership Agreement, units in BP Canada LP do not carry any entitlement to vote.
The “Class 2 Relative Percentage Interest”, “Class 3 Relative Percentage Interest”, “Class 4 Relative Percentage Interest” or “Class 5 Relative Percentage Interest”, at any time, is the percentage of the Class 2 Distribution, Class 3 Distribution, Class 4 Distribution and Class 5 Distribution, as the case may be, payable by BP Canada LP to BPI on the Class 2 GP Units, Class 3 GP Units, Class 4 GP Units and Class 5 GP Units, as the case may be, held by BPI at such time.
BP Canada LP will also continue to infill an already well developed market in Western Canada.
Following liquidation, all of BP Canada LP’s cash assets will be distributed to the partners of BP Canada LP in the following order: 1.