Subordinated Class B Units definition

Subordinated Class B Units means the Class B Subordinated limited partnership units of the Partnership; "Tax Act" means the Income Tax Act (Canada), as amended, including the regulations promulgated thereunder;
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Subordinated Class B Units means the Class B Subordinated limited partnership units of the Partnership; “Tax Act” means the Income Tax Act (Canada), as amended, including the regulations promulgated thereunder; “Tervita” means Tervita Corporation, a private corporation incorporated under the ABCA ;
Sample 1

Examples of Subordinated Class B Units in a sentence

  • Following this, distributions to Subordinated Class B Units were made on a monthly basis.

  • Effective April 11, 2009, all outstanding Subordinated Class B Units had been converted to Class A Units.

  • The Partnership is authorized to issue an unlimited number of Class A Units and Subordinated Class B Units.

  • The General Partner will be allocated 0.01% of the taxable income of the Partnership for each fiscal year and 99.9% of the taxable income of the Partnership will be allocated to the holders of Class A Units and Subordinated Class B Units.

  • The Liquidator (if other than the General Partner) shall be entitled to receive such compensation for its services as may be approved by holders of at least a majority of the Outstanding Common Units, Subordinated Units and Subordinated Class B Units voting as a single class.

  • Subject to the requirements of Section 6.7(b) and 6.8(b), the Partners holding Certificates evidencing Subordinated Units or Subordinated Class B Units may exchange such Certificates for Certificates evidencing Common Units on or after the date on which such Subordinated Units or Subordinated Class B Units are converted into Common Units pursuant to the terms of Section 5.8 and 5.9. Notwithstanding the above provisions, Common Units may be uncertificated.

  • The Liquidator (if other than the General Partner) shall agree not to resign at any time without 15 days’ prior notice and may be removed at any time, with or without cause, by notice of removal approved by holders of at least a majority of the Outstanding Common Units, Subordinated Units and Subordinated Class B Units voting as a single class.

  • The Partnership shall not issue fractional Common Units to any Unitholder holding Subordinated Class B Units.

  • Upon dissolution, removal or resignation of the Liquidator, a successor and substitute Liquidator (who shall have and succeed to all rights, powers and duties of the original Liquidator) shall within 30 days thereafter be approved by holders of at least a majority of the Outstanding Common Units, Subordinated Units and Subordinated Class B Units voting as a single class.

  • Any such action by such holders for removal of the General Partner must also provide for the election of a successor General 81 Partner by the Unitholders holding a majority of the outstanding Common Units voting as a class and a majority of the outstanding Subordinated Units and Subordinated Class B Units voting as a single class (including Units held by the General Partner and its Affiliates).

Related to Subordinated Class B Units

  • Class B Units has the meaning set forth in Section 3.04(a)(ii).

  • Subordinated Units has the meaning assigned to such term in the Partnership Agreement.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • Class A LP Units means the Class A limited partnership units of the Partnership.

  • Final Subordinated Units has the meaning assigned to such term in Section 6.1(d)(x).

  • Preferred Units means all Partnership Interests designated as preferred units by the General Partner from time to time in accordance with Section 4.02 of the Partnership Agreement.

  • Class B Interests As set forth in the Trust Agreement.

  • Subordinated Unit means a Limited Partner Interest having the rights and obligations specified with respect to Subordinated Units in this Agreement. The term “Subordinated Unit” does not include a Common Unit. A Subordinated Unit that is convertible into a Common Unit shall not constitute a Common Unit until such conversion occurs.

  • Initial Subordinate Class Percentage As defined in the Series Supplement.

  • Class C Percentage Interest As of any date of determination, with respect to the Class C Certificates, a percentage interest equal to a fraction, the numerator of which is the Class Principal Balance of the Class C Certificates on such date, and the denominator of which is the Class Principal Balance of the Class C Regular Interest on such date.

  • Class C Member means a Member holding the Class C Ordinary Share.

  • Class B Interest Each of the Class B-1 and Class B-2 Interests.

  • Class B Common Units has the meaning set forth in Section 1(a) hereof.

  • Class B Percentage Interest As of any date of determination, with respect to the Class B Certificates, a percentage interest equal to a fraction, the numerator of which is the Class Principal Balance of the Class B Certificates on such date, and the denominator of which is the Class Principal Balance of the Class B Regular Interest on such date.

  • Class C Shares means the shares of Class C common stock of the Company.

  • Class B Preferred Stock means the Class B Cumulative Convertible Preferred Stock, par value $0.01 per share, of the Previous General Partner.

  • Current Class B Interest Distribution Amount As to any Distribution Date, the amount distributed in respect of the Classes of Class B Certificates pursuant to Paragraphs fifth, eighth, eleventh, fourteenth, seventeenth and twentieth of Section 4.01(a) on such Distribution Date.

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.

  • Class B Investor Interest means, on any date of determination, an amount equal to (a) the Class B Initial Investor Interest, minus (b) the aggregate amount of principal payments made to Class B Certificateholders prior to such date, minus (c) the aggregate amount of Class B Investor Charge-Offs for all prior Transfer Dates pursuant to subsection 4.10(b), minus (d) the amount of the Reallocated Class B Principal Collections allocated pursuant to subsection 4.12(a) on all prior Transfer Dates for which the Collateral Interest Amount has not been reduced, minus (e) an amount equal to the amount by which the Class B Investor Interest has been reduced on all prior Transfer Dates pursuant to subsection 4.10(a) and plus (f) the aggregate amount of Excess Spread allocated and available on all prior Transfer Dates pursuant to subsection 4.11(d) for the purpose of reimbursing amounts deducted pursuant to the foregoing clauses (c), (d) and (e); provided, however, that the Class B Investor Interest may not be reduced below zero.

  • Class A Common Units means the Company's Class A Common Units.

  • Class E Notes has the meaning assigned to such term in the Indenture.

  • Class B Unit means a Partnership Unit which is designated as a Class B Unit of the Partnership.

  • Class B Invested Amount means, on any date of determination, an amount equal to (a) the Class B Initial Invested Amount, minus (b) the aggregate amount of principal payments made to the Class B Certificateholders prior to such date, minus (c) the aggregate amount of Class B Investor Charge-Offs for all prior Distribution Dates, minus (d) the amount of Reallocated Principal Collections allocated on all prior Distribution Dates pursuant to subsection 4.08(a) (excluding any Reallocated Principal Collections that have resulted in a reduction in the Collateral Invested Amount pursuant to Section 4.08), minus (e) an amount equal to the amount by which the Class B Invested Amount has been reduced on all prior Distribution Dates pursuant to subsection 4.06(a) and plus (f) the amount of Excess Spread and Excess Finance Charge Collections allocated and available on all prior Distribution Dates pursuant to subsection 4.07(e) for the purpose of reimbursing amounts deducted pursuant to the foregoing clauses (c), (d) and (e); provided, however, that the Class B Invested Amount may not be reduced below zero.

  • Class E Note Balance means, at any time, the Initial Class E Note Balance reduced by all payments of principal made prior to such time on the Class E Notes.

  • Preferred Interests means, with respect to any Person, Equity Interests issued by such Person that are entitled to a preference or priority over any other Equity Interests issued by such Person upon any distribution of such Person’s property and assets, whether by dividend or upon liquidation.

  • Class H designation on the face thereof, substantially in the form of Exhibit A-4 attached hereto, and evidencing a portion of a class of "regular interests" in REMIC III for purposes of the REMIC Provisions.