Examples of Property GP LP in a sentence
Pursuant to the Voting Agreement, Brookfield has agreed that certain voting rights with respect to the Property General Partner, Property GP LP and the Property Partnership will be voted in accordance with the direction of our company.
Brookfield agrees that it will not (and it will cause any other entity that it Controls not to) exercise its right under the limited partnership agreement for the Property GP LP to remove the Property General Partner as general partner of the Property GP LP except with the prior written consent of BPY.
However, the Property GP LP, in its sole discretion, may mortgage, pledge, hypothecate or grant a security interest in all or substantially all of the Property Partnership’s assets (including for the benefit of persons who are not the Property Partnership or the Property Partnership’s subsidiaries) without that approval.
The base management fee for the period of April 15, 2013 through June 30, 2013 was $10.5 million.Additionally, the partnership pays a quarterly equity enhancement distribution to the Property GP LP of 0.3125% of the amount by which the property partnership’s total capitalization value at the end of each quarter exceeds its total capitalization value immediately following the Spin-off, subject to certain adjustments.
Opinion of Counsel and Limited Partner Approval The Property GP LP will not be required to obtain an opinion of counsel that an amendment will not result in a loss of limited liability to the limited partners if one of the amendments described above under “– No Limited Partner Approval” should occur.
Property GP LP will be entitled to receive equity enhancement distributions an incentive distributions from the property partnership as a result of its ownership of the general partnership interests of the property partnership.
Intercompany transactions have been eliminated.As part of the Spin-off, the partnership entered into a voting agreement with Brookfield under which the partnership was indirectly assigned Brookfield’s voting rights in Property GP LP.
Rejecting the western model of development, he asserted that it is not necessary that development would occur in all societies if they adopt the economic policies and parliamentary democracy on the pattern of west.The modernisation theories could not come true, as experience showed that all developing societies have not followed the path of development of the already developed countries.
The general partner of Property GP LP is Brookfield Property General Partner Limited (“Property General Partner”), a corporation owned indirectly by Brookfield Asset Management Inc.
Each holder of the shares received one partnership unit for approximately every 17.42 shares, representing 44.7% of the limited partnership interest in our partnership, with Brookfield Asset Management retaining units of our partnership, Redemption-Exchange Units, and a 1% general partner interest in the Property Partnership through Property Special LP, which was then known as Brookfield Property GP L.P. Our general partner is an indirect wholly-owned subsidiary of Brookfield Asset Management.