Examples of Class A Preferred Partnership Units in a sentence
Under the U.S. bank regulatory framework, both CIBC and CIBC Bancorp are expected to provide a source of strength to the subsidiary bank and may be required to commit additional capital and other resources to CIBC Bank USA in the event that its financial condition were to deteriorate, whether due to overall challenging economic conditions in the U.S., or because of business-specific issues.
The maximum aggregate amount of all Losses for which the MC Partnership Parties may be liable pursuant to Section 7.03, except with respect to breaches of Fundamental Representations, shall not exceed $100,000,000 (which amount shall be increased by the dollar amount of any additional Class A Preferred Partnership Units purchased pursuant to the RP Subscription Right).
In addition, immediately prior to the Closing, the Partnership has issued 346,116 Preferred Units of which (i) 46,116 Class A Preferred Partnership Units have been issued to the General Partner, (ii) 297,000 Class A Preferred Partnership Units have been issued to Rockpoint Class A Preferred Holder, and (iii) 3,000 Class B Preferred Partnership Units have been issued to Rockpoint Class B Preferred Holder.
Notwithstanding anything to the contrary in this Section 5(b)(ii), if the Rockpoint Class A Preferred Holder elects to purchase any Class A Preferred Partnership Units offered in a RP Subscription Right Notice, the remaining amount of the RP Subscription Right shall not be decreased on account of such elected Class A Preferred Partnership Units unless and until the purchase and issuance thereof shall have been consummated.
For the avoidance of doubt, each Partner hereby acknowledges and consents to the Transfer by the Initial Rockpoint Class A Preferred Holder of all of its Class A Preferred Partnership Units to the Rockpoint Class A Preferred Holder and the admission of the Rockpoint Class A Preferred Holder as a Partner.