Class 1 LP Units definition

Class 1 LP Units means the Class 1 limited partnership units of BP Canada LP held by Holdings LP or a permitted transferee.
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Class 1 LP Units means the Class 1 limited partnership units of BP Canada LP.
Sample 1

Examples of Class 1 LP Units in a sentence

  • The Class 2 LP Units entitle the Fund to a cash distribution equal to 1.5% of Franchise Sales less the Class 1 LP Units distribution amount, less BPI’s proportionate share.

  • Following payment of the Class 4 Distribution, the Class 5 LP Units (if any) and Class 5 GP Units are entitled to receive a distribution of available cash (the “Class 5 Distribution”) equal to the greater of nil and 3.0% of Franchise Sales for such month less the less the sum of distributions paid on the Class 1 LP Units, the Class 2 LP Units, the Class 3 LP Units and the Class 4 LP Units for such month.

  • Following payment of the Class 2 Distribution, the Class 3 LP Units (if any) and Class 3 GP Units are entitled to receive a distribution of available cash (the “Class 3 Distribution”) equal to the greater of nil and 2.0% of Franchise Sales for such month less the sum of distributions paid on the Class 1 LP Units and the Class 2 LP Units for such month.

  • Following payment of the Class 3 Distribution, the Class 4 LP Units (if any) and Class 4 GP Units are entitled to receive a distribution of available cash (the “Class 4 Distribution”) equal to the greater of nil and 2.5% of Franchise Sales for such month less the less the sum of distributions paid on the Class 1 LP Units, the Class 2 LP Units and the Class 3 LP Units for such month.

  • The Class 1 LP Units liability and Class 2 LP Units liability are classified as financial liabilities measured at fair value through profit or loss because the entitlements to distributions are considered embedded derivatives to the limited partnership units.

  • BPI measures the Class 1 LP Units liability and Class 2 LP Units liability at fair value using Level 2 inputs, which may result in a fair value adjustment on the BP Canada LP units liability line on the statements of financial position, and the fair value loss (gain) line on the statements of comprehensive income (loss), and a corresponding non-cash adjustment line on the statements of cash flows.

  • The carrying value of the Class 1 LP Units liability approximates the fair value as the Fund’s interest cost is reflective of available market interest rates.

  • These valuation techniques may not represent the actual value of the Class 1 LP Units liability and Class 2 LP Units liability should such liabilities be extinguished.

  • Changes in the distribution rates on the Class 1 LP Units and Class 2 LP Units and the yield of Fund Units could materially impact BPI’s financial position and net income.

  • The Class 1 LP Units are entitled to distributions with respect to the interest payable by the Fund on the credit facility of the Fund drawn on at the time of the 2015 Transaction to pay for the Fund’s indirect investment in Class 1 LP Units of BP Canada LP.

Related to Class 1 LP Units

  • 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.

  • Class A LP Units means the Class A limited partnership units of the Partnership.

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

  • 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.

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

  • Class C Shares means shares of the Class C Common Stock.

  • Common Units is defined in the Partnership Agreement.

  • 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.

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

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

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

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

  • Class I Shares means Class I Shares in the Company as set forth in the relevant

  • 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 Interests As set forth in the Trust Agreement.

  • Class A Common Unit means a Common Unit having the rights and obligations specified with respect to Class A Common Units in this Agreement.

  • Class B Common Unit means one of that certain class of Common Units with those special rights and obligations specified in this Agreement as being appurtenant to a “Class B Common Unit”.

  • Class A Shares means Class A ordinary shares, par value US$0.0001 per share, in the share capital of the Company.

  • Class A Preferred Shares shall have the meaning ascribed to it in Section 2.4(a).

  • Class B Stock means Class B Stock, par value $1.00 per share, of the Company.

  • Class B Preferred Stock means the Class B preferred stock, nominal value $1,000, of the Company.

  • Class B Warrants means, collectively, the Common Stock purchase warrants in the form of Exhibit C attached hereto delivered to the Purchasers at the Closing in accordance with Section 2.2(a) hereof, which warrants shall be exercisable immediately and have a term of exercise equal to one year.

  • LTIP Units means LTIP Units, as such term is defined in the Partnership Agreement.

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

  • Class B Preferred Shares means class B preferred shares of Pembina;