Examples of Retained Interest Holder in a sentence
Currently, the Retained Interest Holder has the right to nominate three Trustees.
Subject as set out below, the Retained Interest Holder has no voting rights under the Trust Deed, the Conditions, the Certificate Conditions or any other Transaction Document.
The net proceeds were used to reduce the retained interest held by the Retained Interest Holder following the IPO Closing.On April 15, 2019, the REIT issued 8,809,000 Units at a price of $19.60 per Unit on a bought deal basis for gross proceeds of $172.7 million, which included the exercise in full of the over-allotment option granted to the Underwriters in connection with the offering.
The Retained Interest Holder holds a Special Voting Unit of the REIT for each Class B LP Unit held by it.
Any Trustee may resign upon 30 days’ written notice to the REIT, unless such resignationwould cause the number of remaining Trustees to be less than a quorum, and may be removed by an ordinary resolution passed by a majority of the votes cast at a meeting of Unitholders.As described in the Investor Rights Agreement (under “Board Nomination Rights”), the Retained Interest Holder has the exclusive right to nominate Trustees in certain circumstances.