Granite GP Common Shares definition

Granite GP Common Shares means the common shares in the capital of Granite GP;

Examples of Granite GP Common Shares in a sentence

• Subject to applicable regulatory approval, the issued and outstanding Units may be subdivided or consolidated from time to time by the Trustees without Unitholder approval, provided that if an Event of Uncoupling has not occurred, the Units shall not be subdivided or consolidated unless immediately following such subdivision or consolidation there will be issued and outstanding an equal number of Units and Granite GP Common Shares.

• If an Event of Uncoupling has occurred, all references to “Stapled Units” in this Section 5.28 and the defined terms used in this Section 5.28 shall be read as references to “Units” and the references in this Section 5.28 to Granite GP and to Granite GP Common Shares shall be disregarded.

• The Trustees shall have power at any time to call special meetings of the Unitholders at such time and place as the Trustees may determine and any such special meeting of Unitholders may be held at the same time and place as a special meeting of holders of Granite GP Common Shares.

• Distributions under Section 9.01(a) shall be paid in cash or in Units (in the absolute discretion of the Trustees) as provided in Section 9.01(a), and may be reinvested in or paid in Units or Granite GP Common Shares pursuant to any distribution reinvestment plan or distribution reinvestment and Unit or Stapled Unit purchase plan adopted by the Trustees pursuant to Section 9.07.

• The annual meeting of Unitholders may be held at the same time and place as the annual meeting of holders of Granite GP Common Shares.

• The Trustees may in their sole discretion establish a distribution reinvestment plan or a distribution reinvestment and Unit or Stapled Unit purchase plan at any time (which for greater certainty, may also be or accompany a dividend reinvestment or dividend reinvestment and purchase plan of Granite GP, or contemplate the issue of Granite GP Common Shares).

• Unless required by law, the parties agree to propose for appointment by holders of Granite GP Common Shares and Granite REIT Unitholders, as applicable, the same accounting firm to serve as their respective independent auditors.

• The Company anticipates that the Granite REIT Units and Granite GP Common Shares forming the Stapled Units will be separately listed, but not separately posted for trading, on the TSX, as is the case with other stapled unit structures.

• Granite GP Common Shares so repurchased shall be cancelled immediately.

• Granite REIT Units will be stapled to Granite GP Common Shares in accordance with their terms to form Stapled Units and Granite REIT and Granite GP will enter into a Stapled Unit support agreement in connection therewith to facilitate the Stapled Unit structure, including in relation to redemption of Granite GP Common Shares and Granite REIT Units, declaration of distributions and dividends and holding of meetings of holders of Stapled Units.