Admission of Substituted Limited Partners. A transferee of LP Units shall automatically be admitted to the Partnership as a Limited Partner (and the transferor of such LP Units shall, if such transferor is assigning all of such transferor’s LP Units, automatically cease to be a Limited Partner) at and as of the time the transfer is registered on the Units Register pursuant to Section 10.2.
Appears in 8 contracts
Samples: Limited Partnership Agreement (Buckeye Partners, L.P.), Merger Agreement (Buckeye GP Holdings L.P.), Limited Partnership Agreement
Admission of Substituted Limited Partners. A transferee of LP Units shall automatically be admitted to the Partnership as a Limited Partner (and the transferor of such LP Units shall, if such transferor is assigning all of such transferor’s 's LP Units, automatically cease to be a Limited Partner) at and as of the time the transfer is registered on the Units Register pursuant to Section 10.2.
Appears in 5 contracts
Samples: Limited Partnership Agreement (Buckeye Partners L P), Limited Partnership Agreement (New England Investment Companies L P), Limited Partnership Agreement (Buckeye Partners L P)
Admission of Substituted Limited Partners. A transferee of LP Units shall automatically be admitted to the Partnership as a Limited Partner (and the transferor of such LP Units shall, if such transferor is assigning all of such transferor’s 's LP Units, automatically cease to be a Limited Partner) at and as of the time the transfer is registered on the Units Register pursuant to Section 10.2.. 12.3
Appears in 1 contract
Samples: Limited Partnership Agreement (Buckeye Partners L P)
