Class 3 LP Units definition

Class 3 LP Units means the Class 3 limited partnership units of BP Canada LP.
Sample 1

Examples of Class 3 LP Units in a sentence

  • The Class 3 Distribution is paid to Holdings LP and BPI pro rata based on the number of Class 3 LP Units held by Holdings LP and the Class 3 Distribution Limit at the time (or 100% to BPI if no Class 3 LP Units have been issued).

  • 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.

  • 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 the Class 1 Distribution and Class 2 Distribution for such month.

Related to Class 3 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.

  • Common Units is defined in the Partnership Agreement.

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

  • 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.

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

  • 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.

  • 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.

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

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

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

  • 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 Interests As set forth in the Trust Agreement.

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

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

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

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

  • 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).

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

  • Class B Shares means the Class B ordinary Shares in the capital of the Company of $0.0001 nominal or par value designated as Class B Shares, and having the rights provided for in these Articles.