Examples of Québec Class Units in a sentence
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The calculations in the second tables (in each of Tables 5-6 above) assume that 50% of the Available Funds under the Québec Class Units are eligible for both the additional 10% deduction in respect of certain CEE and the additional 10% deduction in respect of certain surface mining exploration expenses.
The calculations assume that only Class A Units are issued, and that a minimum Offering consists of either all National Class Units, all British Columbia Class Units or all Québec Class Units.
There will be no closing of the National Class Units unless a minimum of 100,000 National Class Units are sold, provided that this minimum will be increased to 200,000 National Class Units in the event that the minimum offering for the Québec Class Units is not achieved.
An amount equal to 2.25% of the Gross Proceeds will, in the case of the National Portfolio, be borrowed under the National Portfolio Loan Facility and, in the case of the Québec Portfolio, be set aside from the proceeds from the sale of Québec Class Units, as an Operating Reserve to fund the ongoing estimated general administrative and operating expenses of the Partnership (including the National Portfolio’s share of the General Partner’s Fee).
The National Portfolio’s share of the Agents’ fees and other Offering expenses will be paid by the Partnership from the proceeds of the National Portfolio Loan Facility, and the Québec Portfolio’s share of these fees and expenses will be paid from the proceeds from the sale of Québec Class Units.
The calculations in the first tables (in each of tables 5-6 above) assume that all of the Available Funds under the Québec Class Units are eligible for both the additional 10% deduction in respect of certain CEE and the additional 10% deduction in respect of certain surface mining exploration expenses.
Québec Portfolio The Québec Portfolio’s investment objective is to provide Québec Class Limited Partners with a tax-assisted investment in a diversified portfolio of Flow-Through Shares of Resource Companies primarily engaged in the mining and energy sectors incurring Eligible Expenditures principally in the Province of Québec, with a view to maximizing the tax benefits of investing in Québec Class Units and achieving capital appreciation and/or income for Québec Class Limited Partners.
In this case, the gross proceeds of the Québec Class Units will be $5,000,000, the Agent’s fees will be $287,500, the Offering expenses will be $100,000, the net proceeds to the Partnership will be $4,612,500, the Operating Reserve will be $112,500 and the Available Funds will be $4,500,000.
In the event that the minimum Offering for the National Class Units is not achieved, the minimum will be increased to 200,000 Québec Class Units.