Admission as Member. The Assignor and the General Partner hereby consent to the admission of the Assignee as a member of the Assigned Entity. Immediately following the admission of Assignee as a member of the Assigned Entity, the Assignor and the General Partner shall and do hereby withdraw from the Assigned Entity as a member of the Assigned Entity, and shall thereupon cease to be a member of the Assigned Entity, and shall thereupon cease to have or exercise any right or power as a member of the Assigned Entity.
Appears in 3 contracts
Samples: Contribution Agreement (Valero Energy Partners Lp), Transaction Agreement (Valero Energy Partners Lp), Contribution Agreement
Admission as Member. The Assignor and the General Partner hereby consent to the admission of the Assignee as a member of each of the Assigned EntityEntities. Immediately following the admission of Assignee as a member of each of the Assigned EntityEntities, the Assignor and the General Partner shall and do hereby withdraw from each of the Assigned Entity Entities as a member of each of the Assigned EntityEntities, and shall thereupon cease to be a member of each of the Assigned EntityEntities, and shall thereupon cease to have or exercise any right or power as a member of each of the Assigned EntityEntities.
Appears in 2 contracts
Samples: Contribution Agreement (Valero Energy Partners Lp), Contribution Agreement
Admission as Member. The Assignor Assignors and the General Partner hereby consent to the admission of the Assignee as a member of each of the Assigned EntityEntities. Immediately following the admission of Assignee as a member of the each Assigned Entity, each of the Assignor Assignors and the General Partner Partner, as applicable, shall and do does hereby withdraw from the such Assigned Entity as a member of the such Assigned Entity, and shall thereupon cease to be a member of the such Assigned Entity, and shall thereupon cease to have or exercise any right or power as a member of the such Assigned Entity.
Appears in 1 contract
Samples: Contribution Agreement
Admission as Member. The Assignor Assignors and the General Partner hereby consent to the admission of the Assignee as a member of each of the Assigned EntityEntities. Immediately following the admission of Assignee as a member of the each Assigned Entity, each of the Assignor Assignors and the General Partner Partner, as applicable, shall and do does hereby withdraw from the such Assigned Entity as a member of the such Assigned Entity, and shall thereupon cease to be a member of the such Assigned Entity, and shall thereupon cease to have or exercise any right or power as a member of the such Assigned Entity.. Exhibit E-1
Appears in 1 contract
