Common use of Purchase or Sale of Partnership Securities Clause in Contracts

Purchase or Sale of Partnership Securities. The General Partner may cause the Partnership to purchase or otherwise acquire Partnership Securities, such Partnership Securities shall be held by the Partnership as treasury securities unless they are expressly cancelled by action of an appropriate officer of the General Partner. As long as Partnership Securities are held by any Group Member, such Partnership Securities shall not be considered Outstanding for any purpose, except as otherwise provided herein. For the avoidance of doubt and notwithstanding anything to the contrary in this Agreement, Incentive Distribution Units that are held by the Partnership in treasury (i) shall not be allocated any items of income, gain, loss or deduction pursuant to Article VI and (ii) shall neither be entitled to vote nor be counted for quorum purposes. The General Partner or any Affiliate of the General Partner may also purchase or otherwise acquire and sell or otherwise dispose of Partnership Securities for its own account, subject to the provisions of Article IV and Article X.