Class 2 GP Units definition

Class 2 GP Units means the Class 2 general partnership units of BP Canada LP held by BPI or any Related Party.
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Class 2 GP Units means the Class 2 general partnership units of BP Canada LP.
Sample 1

Examples of Class 2 GP Units 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.

  • Following payment of the Class 1 Distribution, the Class 2 LP Units and Class 2 GP Units are entitled to receive a distribution of available cash (the “Class 2 Distribution”) equal to the greater of nil and 1.5% of Franchise Sales for such month less the Class 1 Distribution for such month.

  • 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.

  • BPI has the right to receive Fund units when it exercises its rights to exchange its Class 2 GP Units into Fund units.

  • BPI has the right to receive Fund Units when it exercises its rights to exchange its Class 2 GP Units into Fund Units.

  • The Class 2 LP Units have similar cash distribution entitlements to the Class 2 GP Units, which are exchangeable into Fund Units.

  • 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.

  • Governance Agreement The Governance Agreement will be amended and restated to provide that the Class 2 GP Units, Class 3 GP Units, Class 4 GP Units and Class 5 GP Units be subject to the same provisions as the Class B Units in the Governance Agreement.

  • Either Contracting Party shall, within the framework of its laws and regulations, promote economic cooperation through the protection in its territory of investments of investors of the other Contracting Party.

  • On September 26, 2017 BPI exchanged 40,815,839 Class 2 GP Units of BP Canada LP for 408,149 Fund units at a price of approximately $21.41 per Fund unit.

Related to Class 2 GP 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 B Interests As set forth in the Trust Agreement.

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

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

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

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

  • Class C Member means a Member holding the Class C Ordinary Share.

  • 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.

  • Common Units is defined in the Partnership Agreement.

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

  • Class H designation on the face thereof, substantially in the form of Exhibit A-4 attached hereto, and evidencing a portion of a class of "regular interests" in REMIC III for purposes of the REMIC Provisions.

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

  • Class B Percentage Interest As of any date of determination, with respect to the Class B Certificates, a percentage interest equal to a fraction, the numerator of which is the Class Principal Balance of the Class B Certificates on such date, and the denominator of which is the Class Principal Balance of the Class B Regular Interest on such date.

  • Class C Percentage Interest As of any date of determination, with respect to the Class C Certificates, a percentage interest equal to a fraction, the numerator of which is the Class Principal Balance of the Class C Certificates on such date, and the denominator of which is the Class Principal Balance of the Class C Regular Interest on such date.

  • Class B Interest Each of the Class B-1 and Class B-2 Interests.

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

  • Class A Interests means the Units purchased by the Class A Members. The Class A Interests shall comprise sixty-five percent (65%) of the total Interests sold. Class A Percentage Interest shall be determined by calculating the ratio between each Class A Member’s Capital Account in relation to the total capitalization of the Company provided by the Class A Members.

  • Class P designation on the face thereof, substantially in the form of Exhibit A-5 attached hereto, and evidencing a portion of a class of "regular interests" in REMIC III for purposes of the REMIC Provisions.

  • Class HI M-1 Formula Interest Distribution Amount" means, as to any Payment Date, the sum of (a) the amount specified in clause (a) of the definition of the term "Class HI: M-1 Formula Distribution Amount" and (b) the Unpaid Class HI: M-1 Interest Shortfall, if any.

  • Class C Units The term "Class C Units" shall have the meaning set forth in the preface.

  • Class LT-R Interest The residual interest in the Lower-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Class B Limited Partner means any Person executing (by power of attorney or otherwise) this Agreement as of the date hereof as a Class B Limited Partner or hereafter admitted to the Partnership as a Class B Limited Partner as herein provided, but shall not include any Person who has ceased to be a Class B Limited Partner in the Partnership.