FORM 20-F/A Brookfield Property Partners L.P. - Brookfield Asset ...

1.1.48 “Subsidiary” means, with respect to any Person, (i) any other Person that is directly or indirectly Controlled by suchPerson, (ii) any trust in which such Person holds all of the beneficial interests, or (iii) any partnership, limited liability companyor similar entity in which such Person holds all of the interests other than the interests of any general partner, managing memberor similar Person;1.1.49 “Third Party Claim” has the meaning assigned thereto in Section 10.1.2;1.1.50 “Trading Price” means, in any Quarter, with respect to any Unit that is listed on a stock exchange or public quotationsystem, the volume-weighted average trading price of such Unit on the Principal Exchange for the five trading days ending onthe last trading day of such Quarter; provided that where the Trading Price of such Unit is calculated in any currency other thanU.S. dollars, such amount will be converted to U.S. dollars for purposes of this Agreement in accordance with the applicableexchange rate, as determined by the Managers acting reasonably; and1.1.51 “Units” means the limited partnership units of BPY.1.2 Headings and Table of ContentsThe inclusion of headings and a table of contents in this Agreement are for convenience of reference only and will notaffect the construction or interpretation hereof.1.3 InterpretationIn this Agreement, unless the context otherwise requires:1.3.1 words importing the singular will include the plural and vice versa, words importing gender will include all genders or theneuter, and words importing the neuter will include all genders;1.3.2 the words “include”, “includes”, “including”, or any variations thereof, when following any general term or statement, arenot to be construed as limiting the general term or statement to the specific items or matters set forth or to similar items ormatters, but rather as referring to all other items or matters that could reasonably fall within the broadest possible scope of thegeneral term or statement;1.3.3 references to any Person include such Person’s successors and permitted assigns;1.3.4 except as otherwise provided in this Agreement, any reference in this Agreement to a statute, regulation, policy, rule orinstrument will include, and will be deemed to be a reference also to, all rules and regulations made under such statute, in thecase of a statute, to all amendments made to such statute, regulation, policy, rule or instrument, and to any statute, regulation,policy, rule or instrument that may be passed which has the effect of supplementing or superseding the statute, regulation,policy, rule or instrument so referred to;-6 -