Extendicare Holding Partnership definition
Examples of Extendicare Holding Partnership in a sentence
REIT Units, Exchangeable LP Units and Ancillary Rights issued or made pursuant to the Arrangement shall be deemed to be surrendered to the REIT (in the case of the REIT Units contemplated by Section 3.1(h)) and to Extendicare Holding Partnership and the REIT (in the case of the Exchangeable LP Units and Special Voting Units contemplated by Section 3.1(f)), together with all distributions thereon held for such holder.
The undersigned further acknowledges that none of the Corporation, the REIT, Extendicare Holding Partnership or any of their respective affiliates, trustees, directors, officers, employees, agents or representatives has any responsibility or liability for the completeness, accuracy or filing of any tax election form or information.
Furthermore, the undersigned covenants, agrees and undertakes not to transfer any Exchangeable LP Units received by it to an Excluded Person (and hereby acknowledges that the Exchangeable LP Units will not be transferable except in connection with an exchange for REIT Units or in the circumstances described in the Circular under “Description of Extendicare Holding Partnership – Transfer of LP Units”).
Holding GP, on behalf of Extendicare Holding Partnership, will not execute any tax election form that is received by it more than 60 days after the Effective Date, or that is incomplete or contains inaccurate information.
With the exception of the execution by Holding GP, on behalf of Extendicare Holding Partnership, of any properly completed tax election form that is received by Extendicare Holding Partnership within 60 days of the Effective Date, compliance with the requirements for valid tax elections will be the sole responsibility of the Shareholder making the elections.
The description of the rights available to Extendicare Holding Partnership and Holding GP upon a contravention of the foregoing restrictions is not complete and reference should be made to the complete text of the Limited Partnership Agreement.
The undersigned acknowledges that it is the intention of Extendicare Holding Partnership, in creating the Exchangeable LP Units, to have the economic attributes associated with the Exchangeable LP Units be, as nearly as practicable, equivalent to those of REIT Units.
Holding GP, on behalf of Extendicare Holding Partnership, will only execute a tax election form submitted by an Electing Shareholder if the election form is properly completed and received by Holding GP within 60 days of the Effective Date of the Arrangement.
It will be the sole responsibility of each Shareholder who wishes to make such an election to obtain the necessary provincial or territorial election forms and to submit such forms for execution to Extendicare Holding Partnership in the same manner and within the same time as the federal tax election form enclosed in the tax election package.
In general terms, the Limited Partnership Agreement provides that a holder of the Exchangeable LP Units that contravenes the foregoing restrictions shall be deemed to have ceased to be a limited partner of Extendicare Holding Partnership with effect immediately before the date of contravention and to have exchanged such holder’s Exchangeable LP Units into the applicable number of REIT Units at that time.