BPY Units definition

BPY Units means the limited partnership units (other than the general partner units and the preferred partnership units) in the capital of BPY, including the Restricted BPY Units;
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BPY Units means the non-voting limited partnership units of Brookfield Property Partners;
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BPY Units means limited partnership units of BPY.
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Examples of BPY Units in a sentence

  • The Rights Agent shall not take any action under this Section 4(a)(ii) or otherwise upon receipt of an Exchanging Class A Shareholder Notice unless BAM has instructed the Rights Agent to exchange any Subject Class A Share for a number of BPY Units or the Cash Amount, as applicable, as set forth in this Section 4(a)(ii).

  • Prior to any transfer contemplated by this Agreement, BAM shall instruct the transfer agents for any BPY Unit certificates and Class A Shares to follow the instructions of the Rights Agent in connection with any exchange of Class A Shares for BPY Units as set forth herein.

  • Upon satisfaction of the condition in the immediately preceding sentence, BAM shall instruct the Rights Agent in writing to deliver such BPY Units Amount or Cash Amount to such other Person.

  • The BPY Units Amounts delivered to any Exchanging Class A Shareholder pursuant to Section 4(a) shall only be comprised of Registered BPY Units transferred under an effective resale shelf registration statement, and no Exchanging Class A Shareholder shall receive any BPY Unit that is not a Registered BPY Unit freely transferable under the U.S. federal securities laws.

  • The Rights Agent shall requisition the BPY Units Amount or the Cash Amount, as applicable, without any further action or approval from BAM, for payment to any Class A Shareholder in accordance with Section 4(a) or Section 4(b) in accordance with the terms and conditions set forth in this Agreement.

  • Neither BAM nor the Rights Agent will pay any interest on the proceeds from the sale of fractional BPY Units.

  • BAM and the Rights Agent desire to set forth their rights and obligations with respect to the Secondary Exchange Rights and the delivery of the BPY Units Amount or, at BAM’s sole election, the Cash Amount in satisfaction of the Secondary Exchange Rights.

  • Neither BAM nor the Rights Agent will guarantee any minimum sale price for the fractional BPY Units.

  • For the avoidance of doubt, any Class A Shareholder who receives the Cash Amount in satisfaction of the Secondary Exchange Right with respect to any Class A Share pursuant to this Agreement shall not be entitled to any rights of a holder of BPY Units at any time with respect to the BPY Units for which the Secondary Exchange Right with respect to such Subject Class A Share was exercisable prior to the receipt of such Cash Amount.

  • The Rights Agent or any successor Rights Agent may resign and be discharged from its duties under this Agreement upon 30 days’ notice in writing mailed to BAM and the Company and to each transfer agent of the Class A Shares and the BPY Units by registered or certified mail.


More Definitions of BPY Units

BPY Units has the meaning given to such term in the recitals to this Agreement.
Sample 1
BPY Units means non-voting limited partnership units of Brookfield Property Partners L.P.
Sample 1
BPY Units means the non-voting limited partnership units of BPY, and any other securities into which such units may be changed or for which such units may be exchanged (whether or not BPY will be the issuer of such securities) or any other consideration which may be received by the holders of such units pursuant to a recapitalization, reconstruction, reorganization or reclassification of, or merger, liquidation or similar transaction affecting, such units.
Sample 1

Related to BPY Units

  • Company Units has the meaning set forth in the Recitals.

  • Common Units is defined in the Partnership Agreement.

  • LLC Units has the meaning set forth in the LLC Agreement.

  • Units means the units of the Company, each comprised of one share of Common Stock and one-half of one Warrant.

  • LP Units means the non-voting limited partnership units in the capital of BEP, other than the Preferred Units, including any LP Units issued pursuant to the Redemption-Exchange Mechanism.

  • Class B Common Units has the meaning set forth in Section 1(a) hereof.

  • Class A Common Units means a Common Unit which is designated as a “Class A Common Unit” and which has the rights, preferences and other privileges designated in Annex A hereto and elsewhere in this Agreement in respect of holders of Common Units.

  • Class B Units means the Class B Units of the Company.

  • Initial Common Units means the Common Units sold in the Initial Offering.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • OP Units means units of limited partnership interest in the Operating Partnership.

  • Preferred Units means a Partnership Interest, including the Series A Preferred Units, designated as a “Preferred Unit,” which entitles the holder thereof to a preference with respect to distributions, or as to the distribution of assets upon any Liquidation Event, over Common Units.

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.

  • Trust Units means units of the Trust;

  • Tendered Units shall have the meaning set forth in Section 8.6.A.

  • Membership Units means the limited liability company interests in the Company held by the Members, expressed as a number of units held by each Member and set forth opposite such Member's name on Schedule I attached hereto, as amended, modified or supplemented from time to time.

  • public units means the state or a political subdivision or instrumentality of the state including a county, school corporation, special district, drainage district, unincorporated town or township, municipality, or municipal corporation or any agency, board, or commission of the state or a political subdivision; any court or public body; an electric power agency; federal and state grant moneys of a quasi-public state entity under Iowa Code section 12C.1, subsection (2e), and this chapter. Public units additionally include, but are not limited to:

  • Redeemed Units has the meaning set forth in Section 11.01(a).

  • Series B Preferred Units shall have the meaning provided in Section 1.

  • Initial Units means, with respect to any Initial Limited Partner, the aggregate number of Class A Units owned by such Initial Limited Partner as of the date of this Agreement.

  • Series A Preferred Units has the meaning assigned to such term in Section 5.11(a).

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

  • Class D Units has the meaning ascribed to such term in the LLC Agreement.

  • General Partner Units has the meaning assigned to such term in the Partnership Agreement.

  • Unvested Units means those Units listed as unvested Units in the books and records of the Partnership, as the same may be amended from time to time in accordance with this Agreement.

  • Series C Preferred Units shall have the meaning provided in Section 1.