Examples of Fording LP in a sentence
The Trust directly and indirectly owns all of the interests of Fording LP, which holds a 60% interest in Elk Valley Coal.
Elk Valley Coal is a general partnership between Fording LP and affiliates of Teck Cominco Limited (Teck Cominco).
The foreign exchange hedging activities of the Trust take into account the existing foreign exchange forward contracts of Fording LP and Elk Valley Coal.
The Royalty Agreement is a legal, valid and binding obligation of each of Fording and Fording LP enforceable against each party by the other in accordance with its terms, subject to bankruptcy, insolvency, reorganization (under debtor or creditor Laws), fraudulent transfer, moratorium and other applicable Laws relating to or affecting creditors’ rights generally, and to general principles of equity.
In the event that the Trustees of the Trust determine that the Trust does not have sufficient cash available to make the full amount of any distribution, the payment of such distribution may be made in Units.Fording LPThe Board of Directors of Fording ULC, as general partner of the Fording LP, determines the distribution policy of Fording LP.
Available cash generated by Fording LP and paid to the Trust is the principal source of distributable cash paid to unitholders.
The Chairman and Chief Executive Officer of the Trust will be selected by the Trustees from the Independent Trustees, provided however that for the purposes of this provision only, a Person shall not be considered ineligible to be appointed as Chairman and Chief Executive Officer by virtue of being an officer of the Trust, Fording LLC, Fording ULC or Fording LP.
The current distribution policy of Fording LP is to distribute its Available Cash to its partners, in proportion to their respective partnership interests (which is the Trust, as to 99.99% and Fording ULC as to 0.01%), subject to compliance with legal and contractual obligations.
Fording LP directly, and Fording indirectly, holds a 60% general partnership interest in the Partnership free and clear of all liens, mortgages, charges, pledges, security interests, encumbrances, claims or demands, other than Permitted Encumbrances and rights under the EVCP Partnership Agreement and the Teck Agreement.
The Trust uses the cash it receives from its investments to make quarterly distributions to its unitholders.Elk Valley Coal is a general partnership between Fording LP and Teck Cominco.