Managing General Partner Units definition
Examples of Managing General Partner Units in a sentence
As of November 28, 2014, there are 432,649,105 Redemption-Exchange Units, 245,340,942 Managing General Partner Units and 4,759,997 Special Limited Partner Units issued and outstanding.
Immediately following BPY’s purchase of Series 4 Units, BPY shall exchange such Series 4 Units for (i) that number of Managing General Partner Units equal to the number of BPY Units included in the Redemption Consideration or the Exchange Consideration, as applicable, and (ii) if applicable, a cheque in the amount of all accrued (whether or not declared) and unpaid cash distributions on such Series 4 Units, less any tax required to be deducted and withheld.
Immediately following BPY’s purchase of Series 2 Units, BPY shall exchange such Series 2 Units for (i) that number of Managing General Partner Units equal to the number of BPY Units included in the Redemption Consideration or the Exchange Consideration, as applicable, and (ii) if applicable, a cheque in the amount of all accrued (whether or not declared) and unpaid cash distributions on such Series 2 Units, less any tax required to be deducted and withheld.
Immediately following BPY’s purchase of Series 3 Units, BPY shall exchange such Series 3 Units for (i) that number of Managing General Partner Units equal to the number of BPY Units included in the Redemption Consideration or the Exchange Consideration, as applicable, and (ii) if applicable, a cheque in the amount of all accrued (whether or not declared) and unpaid cash distributions on such Series 3 Units, less any tax required to be deducted and withheld.
There are no securities convertible into, or exchangeable or exercisable for Redemption-Exchange Units, Managing General Partner Units or Special Limited Partner Units, or other rights to acquire Redemption-Exchange Units, Managing General Partner Units or Special Limited Partner Units.
In addition to any other Units previously held by BPY, BPY will be considered and deemed for all purposes to be the holder of the number of Managing General Partner Units equal to the number of Series 2 Units exchanged pursuant to the Preferred Call Right.
In addition to any other Units previously held by BPY, BPY will be considered and deemed for all purposes to be the holder of the number of Managing General Partner Units equal to the number of Series 1 Units exchanged pursuant to the Preferred Call Right.
Immediately following BPY’s purchase of Series 1 Units, BPY shall exchange such Series 1 Units for (i) that number of Managing General Partner Units equal to the number of BPY Units included in the Redemption Consideration or the Exchange Consideration, as applicable, and (ii) if applicable, a cheque in the amount of all accrued (whether or not declared) and unpaid cash distributions on such Series 1 Units, less any tax required to be deducted and withheld.
In addition to any other Units previously held by BPY, BPY will be considered and deemed for all purposes to be the holder of the number of Managing General Partner Units equal to the number of Series 3 Units exchanged pursuant to the Preferred Call Right.
In addition to any other Units previously held by BPY, BPY will be considered and deemed for all purposes to be the holder of the number of Managing General Partner Units equal to the number of Series 4 Units exchanged pursuant to the Preferred Call Right.