LP Units definition
Examples of LP Units in a sentence
Westport Inc shall pay all Transfer Taxes arising or paid as a result of or by reference to the sale, delivery or transfer by Westport Inc to Volvo Sweden and Volvo Canada of the Purchased LP Units, Purchased GP Shares and Purchased JVCo Shares.
Concurrently with the issuance or transfer of such LP Units to any interested stakeholder the Parties acknowledge and agree that this Agreement, the GP USA and the JVCo SHA will require re-negotiation and that they shall give reasonable consideration to the changes to this Agreement, the GP USA and the JVCo SHA as they or such stakeholder may reasonably request or require in connection with the admission of new limited partners to the Partnership and new shareholders to the General Partner and JVCo.
As at the Investment Closing Date, the Issued LP Units will have been validly issued and Westport Canada will be the sole legal and beneficial owners of the Issued LP Units.
The buyer will pay for the LP Units, GP Shares, and LP Loans (or, as applicable, shares in Volvo Canada) being purchased pursuant to this Agreement by wire transfer in cleared funds for same day value initiated by a Canadian or US chartered bank (or European equivalent) or trust company.
Volvo Canada acknowledges that such considerations may include the Transfer of LP Units by Volvo Canada (or Transfer by Volvo Sweden of shares in Volvo Canada) to such new stakeholder in a manner that leaves Westport Canada as a Limited Partner holding greater than 50% of the LP Units.