Series 5 Preferred Units definition

Series 5 Preferred Units has the meaning ascribed thereto in Section 11.1(g) hereof;

Series 5 Preferred Units means the Class A Preferred Units, Series 5 of BEP. “Series 7 Preferred Units” means the Class A Preferred Units, Series 7 of BEP. “Series 8 Preferred Units” means the Class A Preferred Units, Series 8 of BEP. “Series 9 Preferred Units” means the Class A Preferred Units, Series 9 of BEP. “Series 10 Preferred Units” means the Class A Preferred Units, Series 10 of BEP. “Series 11 Preferred Units” means the Class A Preferred Units, Series 11 of BEP. “Series 12 Preferred Units” means the Class A Preferred Units, Series 12 of BEP. “Series 13 Preferred Units” means the Class A Preferred Units, Series 13 of BEP. “Series 14 Preferred Units” means the Class A Preferred Units, Series 14 of BEP. “Series 15 Preferred Units” means the Class A Preferred Units, Series 15 of BEP. “Series 16 Preferred Units” means the Class A Preferred Units, Series 16 of BEP. “Series 17 Preferred Units” means the Class A Preferred Units, Series 17 of BEP. “Series 18 Preferred Units” means the Class A Preferred Units, Series 18 of BEP.

Series 5 Preferred Units means Class A Preferred Limited Partnership Units, Series 5 of the Partnership. “Series 7 Interest Adjustments” has the meaning ascribed thereto in “Earnings Coverage Ratios”.

Examples of Series 5 Preferred Units in a sentence

• A portion of the proceeds of the Alberta Finco Notes was used to redeem our Series 5 Preferred Units on September 30, 2021, and the remainder for general corporate purposes.

• Holders of the Series 5 Preferred Units will not have any voting rights, except as required by the Act.

• In total, $225 million or C$300 million of gross proceeds were raised and $5 million in issuance costs were incurred.In August 2016, Brookfield Infrastructure issued 10 million Series 5 Preferred Units at C$25 per unit with a quarterly fixed distribution at a rate of 5.35% annually for the initial period ending September 30, 2021.

• Any Series 5 Preferred Units that shall at any time have been redeemed shall after such redemption, have the status of authorized but unissued Preferred Units, without designation as to class or series until such units are once more designated as part of a particular class or series by the General Partner.

• Holders of Series 5 Preferred Units shall not be entitled to any distributions, whether payable in cash, other property or otherwise, in excess of the full cumulative distributions described herein.

• Distributions on the Series 5 Preferred Units will accrue whether or not the terms and provisions of any agreement of the Partnership, including any agreement relating to its indebtedness, at any time prohibit the current payment of distributions, whether or not the Partnership has earnings, whether or not there are funds legally available for the payment of such distributions and whether or not such distributions are authorized or declared.

• The term “equity securities” does not include debt securities, which will rank senior to the Series 5 Preferred Units.

• No sinking fund shall be established for the retirement or redemption of Series 5 Preferred Units.

• In total, $225 million or C$300 million of gross proceeds were raised and $5 million in issuance costs were incurred.In August 2016, our partnership issued 10 million Series 5 Preferred Units at C$25 per unit with a quarterly fixed distribution at a rate of 5.35% annually for the initial period ending September 30, 2021.

• Accrued but unpaid distributions on the Series 5 Preferred Units will accumulate as of the Preferred Unit Distribution Payment Date on which they first become payable.