Class 2 LP Units definition

Class 2 LP Units means the Class 2 limited partnership units of BP Canada LP held by Holdings LP or a permitted transferee.
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Class 2 LP Units means the Class 2 limited partnership units of BP Canada LP.
Sample 1

Examples of Class 2 LP Units in a sentence

  • The Class 1 LP and Class 2 LP Units are held indirectly by the Fund and entitle the Fund to a cash distribution equal to 1.5% of franchise sales of Boston Pizza Restaurants in the Fund’s royalty pool (the “Royalty Pool”), less the pro rata portion payable to BPI in respect of its retained interest in the Fund.

  • The Class 1 LP and Class 2 LP Units are held indirectly by the Fund and entitle the Fund to a cash distribution equal to 1.5% of franchise sales of Boston Pizza restaurants in the Royalty Pool, less the pro rata portion payable to BPI in respect of its retained interest in the Fund.

  • 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 Distribution is paid to Holdings LP and BPI pro rata based on the number of Class 2 LP Units held by Holdings LP and the Class 2 Distribution Limit at the time.

  • 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.

  • 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.

  • Consequently, BPI estimates the fair value of the Class 2 LP Units liability by multiplying the number of Class 2 LP Units indirectly held by the Fund at the end of the period by the closing price of a Fund Unit at the end of that period.

Related to Class 2 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.

  • Common Units is defined in the Partnership Agreement.

  • Class B Interests As set forth in the Trust Agreement.

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

  • 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.

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

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

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

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

  • 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 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.

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

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

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

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

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

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

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

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

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