Class 4 LP Units definition

Class 4 LP Units means the Class 4 limited partnership units of BP Canada LP.
Sample 1

Examples of Class 4 LP Units in a sentence

  • 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 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 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 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 sum of the Class 1 Distribution, Class 2 Distribution and Class 3 Distribution for such month.

  • The Class 4 Distribution is paid to Holdings LP and BPI pro rata based on thenumber 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).

  • If this Consulting Agreement is acceptable to you, please sign below and return the fully signed original to me.

  • 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 sumof the Class 1 Distribution, Class 2 Distribution and Class 3 Distribution for such month.

  • 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 thatthe 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.

Related to Class 4 LP Units

  • 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.

  • Preferred Units means the Series A Preferred Units and the Series B Preferred Units.

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

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