Examples of Class 4 Distribution in a sentence
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.
The Class 4 Distribution is paid to Holdings LP and BPI pro rata based on the number of Class 4 LP Units held by Holdings LP and the Class 4 Distribution Limit at the time (or 100% to BPI if no Class 4 LP Units have been issued).
Upon any exchange of Class 2 GP Units, Class 3 GP Units, Class 4 GP Units or Class 5 GP Units, BP Canada LP will issue a number of Class 2 LP Units, Class 3 LP Units, Class 4 LP Units or Class 5 LP Units, respectively, equal to the number of Units issued to BPI upon such exchange in order to ensure that the portion of the Class 2 Distribution, Class 3 Distribution, Class 4 Distribution and Class 5 Distribution, respectively, payable to BPI is effectively equal to BPI’s retained interest in the Fund.
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 sum of the Class 1 Distribution, Class 2 Distribution, Class 3 Distribution and Class 4 Distribution for such month.
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.
Except to the extent that a holder of an Allowed Oil General Unsecured Claim agrees to a different treatment of such Claim, each holder of an Allowed Oil General Unsecured Claim against the Debtor shall receive Cash a pro rata share of Class 4 Distribution paid on the later of October 1, 2021 or as soon as practicable after the date such Claim becomes an Allowed Claim.
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 theClass 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.
If the Convenience Class Election is made, then such Holder shall receive, in lieu of the Distribution provided to Holders of Claims in Class 4, Distribution as if the Allowed Claim is a Class 5 Convenience Class Claim.
Except to the extent that a holder of an Allowed Oil General Unsecured Claim agrees to a different treatment of such Claim, each holder of an Allowed Oil General Unsecured Claim against the Debtor shall receive Cash a pro rata share of Class 4 Distribution paid on or before the later of October 1, 2021 or as soon as practicable after the date such Claim becomes an Allowed Claim.
Except as ordered by prior order of the Court or in a specific provision of the Plan, all Cure Payments shall be made (a) by the Reorganized Debtors in twelve (12) equal monthly installments beginning on the Class 4 Distribution Date, or (b) at the Debtors’ option, in full on the Class 4 Distribution Date.