Common use of Admission of Initial Limited Partners Clause in Contracts

Admission of Initial Limited Partners. Upon the issuance by the Partnership of Common Units and Subordinated Units to the General Partner and Petrolane as described in Section 4.2, the General Partner and Petrolane shall each be deemed to have been admitted to the Partnership as a Limited Partner in respect of the Common Units and the Subordinated Units issued to it. Upon the issuance by the Partnership of Common Units to the Underwriters as described in Section 4.2 in connection with the Initial Offering and the execution by each Underwriter of a Transfer Application, the General Partner shall admit the Underwriters to the Partnership as Initial Limited Partners in respect of the Common Units purchased by them.

Admission of Initial Limited Partners. Upon the issuance by the Partnership of Common Units, Subordinated Units and Subordinated Units Incentive Distribution Rights to the General Partner and Petrolane Partners as described in Section 4.25.2, the each General Partner and Petrolane shall each be deemed to have been admitted to the Partnership as a Limited Partner in respect of the Common Units and the Units, Subordinated Units or Incentive Distribution Rights issued to it. Upon the issuance by the Partnership of Common Units to the Underwriters as described in Section 4.2 5.3 in connection with the Initial Offering and the execution by each Underwriter of a Transfer Application, the Managing General Partner shall admit the Underwriters to the Partnership as Initial Limited Partners in respect of the Common Units purchased by them.

Admission of Initial Limited Partners. Upon the issuance by the Partnership of Common Units, Subordinated Units and Subordinated Units Incentive Distribution Rights to the General Partner and Petrolane as described in Section 4.25.2, the General Partner and Petrolane shall each be deemed to have been admitted to the Partnership as a Limited Partner in respect of the Common Units, Subordinated Units and the Subordinated Units Incentive Distribution Rights issued to it. Upon the issuance by the Partnership of Common Units to the Underwriters as described in Section 4.2 5.3 in connection with the Initial Offering and the execution by each Underwriter of a Transfer Application, the General Partner shall admit the Underwriters to the Partnership as Initial Limited Partners in respect of the Common Units purchased by them.

Admission of Initial Limited Partners. Upon the issuance by the Partnership transfer of Common Units, Subordinated Units and Subordinated Units Incentive Distribution Rights to the General Partner and Petrolane as described in Section 4.25.2, the General Partner and Petrolane shall each be deemed to have been admitted to the Partnership as a Limited Partner in respect of the Common Units, Subordinated Units and the Subordinated Units issued Incentive Distribution Rights transferred to it. Upon the issuance by the Partnership of Common Units to the Underwriters as described in Section 4.2 5.3 in connection with the Initial Offering and the execution by each Underwriter of a Transfer Application, the General Partner shall admit the Underwriters to the Partnership as Initial Limited Partners in respect of the Common Units purchased by them.