Common LP Unit definition

Common LP Unit means a Unit representing, when outstanding, a fractional part of the Partnership Interests of all Limited Partners, and having the rights and obligations specified with respect to Common LP Units in this Agreement. The term “Common LP Unit” does not refer to, or include, any Subordinated LP Unit prior to its conversion into a Common LP Unit pursuant to the terms hereof.
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Examples of Common LP Unit in a sentence

  • Each Special GP Unit, Common GP Unit and Subordinated GP Unit will automatically convert into a Special LP Unit, Common LP Unit or Subordinated LP Unit, respectively, on a one-for-one basis immediately prior to the transfer of such Unit to any Person who is not an Affiliate of the Special General Partner.

  • The authorized capital of LP consists of an unlimited number of LP Units, of which, as at the date hereof 4,750,000 Common LP Units are issued and outstanding and owned by CDPQ, 14,250,000 Common LP Units are issued and outstanding and owned by ACCC, and one Common LP Unit is issued and outstanding and owned by GP.

  • The holders of the Common LP Units shall have the right to one vote for each Common LP Unit held in respect of all matters to be decided by the Limited Partners.

  • As provided in Subsection 3.1(b) above, such Class B LP Unit shall be renamed as and from the date hereof as a “Common LP Unit” such that the General Partner’s contribution to the Partnership is now equal to one Common LP Unit.

  • The authorized capital of LP consists of an unlimited number of LP Units, of which, as at the date hereof 4,750,000 Common LP Units are issued and outstanding and owned by CDP Investissements Inc., a wholly-owned subsidiary of CDPQ, 14,250,000 Common LP Units are issued and outstanding and owned by ACCC, and one Common LP Unit is issued and outstanding and owned by GP.

  • CDPQ shall be entitled, by notice in writing to ACCC within forty-five (45) days from the date of receipt of a copy of the offer, to elect, as a condition precedent to any sale of the Purchased Units by ACCC to the third party (the “Acquiror”), to require the Acquiror to purchase all of CDPQ’s Common LP Units for a price per Common LP Unit which is the same as that which is stipulated in the offer, and otherwise upon the same terms and conditions as contained in the offer.

  • ACCC shall be entitled, by notice in writing to CDPQ within forty-five (45) days from the date of receipt of a copy of the offer, to acquire a number of Common LP Units from CDPQ for a price per Common LP Unit which is the same as that which is to be received by CDPQ, and otherwise in accordance with the terms and conditions of the offer.

  • The General Partner shall cancel the certificate representing the said Class B LP Unit issued to it prior to the date hereof and replace it with a certificate representing the Common LP Unit held by the General Partner.