Examples of GP Units in a sentence

Additional Class B GP Units may be converted into Class A GP Units in respect of these new SIR Restaurants if actual revenues of the new SIR Restaurants exceeded 80% of the initial estimated revenues and the formula defined in the Partnership Agreement.
SIR has the right to require the Fund to, indirectly, purchase the Class C GP Units and assume a portion of the SIR Loan as consideration for the acquisition of the Class C GP Units.
Conversely, converted Class A GP Units will be returned by SIR if the actual revenues of the new SIR Restaurants are less than 80% of the initial estimated revenues.
On January 1 of each year, Class B GP Units are converted into Class A GP Units for new SIR Restaurants added to the Royalty Pooled Restaurants based on 80% of the initial estimated revenues and the formula defined in the Partnership Agreement.
Class B GP Units are convertible into Class A GP Units based on a conversion formula defined in the Partnership Agreement for each new restaurant opened in the previous fiscal year.

More Definitions of GP Units

GP Units means general partnership units in the capital of the Partnership "GWh" means gigawatt hour(s)

GP Units means the units of “General Partner Interest” (as defined in the Partnership Agreement) of the Partnership.

GP Units has the meaning set forth in the recitals.

GP Units has the meaning given to that term in Section 3.2.

GP Units means units of the Partnership representing the interests of a general partner.