Common use of Approval Required for Certain Action Clause in Contracts

Approval Required for Certain Action. The General Partner shall not cause the Partnership to, and the Partnership shall not, take any of the following actions without the approval or consent of all Limited Partners (which consent may be made categorically or by policy): (a) effecting any merger or consolidation involving the Partnership; (b) effecting any sale or exchange of all or substantially all of Partnership’s assets; (c) dissolving or liquidating the Partnership; (d) creating or causing to exist any consensual restriction on the ability of the Partnership or its subsidiaries to make distributions, pay any indebtedness, make loans or advances or transfer assets to its Limited Partners or their subsidiaries; (e) settling or compromising any claim, dispute or litigation directly against, or otherwise relating to indemnification by the Partnership of, any of the directors or officers of the General Partner; or (f) issuing additional Interests.

Appears in 6 contracts

Samples: Contribution Agreement, Agreement of Limited Partnership (Dominion Midstream Partners, LP), Agreement of Limited Partnership (Dominion Midstream Partners, LP)

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Approval Required for Certain Action. The In addition to matters set forth in Section 6.1, the General Partner shall not cause the Partnership to, and the Partnership shall not, take any of the following actions without the approval or consent of all the Limited Partners (which consent may be made categorically or by policy): (a) effecting any merger or consolidation involving the Partnership; (b) effecting any sale or exchange of all or substantially all of Partnership’s assets; (c) dissolving or liquidating the Partnership; (d) creating or causing to exist any consensual restriction on the ability of the Partnership or its subsidiaries to make distributions, pay any indebtedness, make loans or advances or transfer assets to its Limited Partners or their subsidiaries; (e) settling or compromising any claim, dispute or litigation directly against, or otherwise relating to indemnification by the Partnership of, any of the directors or officers of the General Partner; or (f) issuing additional Interestsinterests in the Partnership.

Appears in 5 contracts

Samples: Agreement of Limited Partnership (Columbia Pipeline Partners LP), Agreement of Limited Partnership (Columbia Pipeline Partners LP), Agreement of Limited Partnership (Columbia Pipeline Partners LP)

Approval Required for Certain Action. The In addition to matters set forth in Section 5.2, the General Partner shall not cause the Partnership to, and the Partnership shall not, take any of the following actions without the approval or consent of all Limited Partners the sole member of the General Partner (which consent may be made categorically or by policy): (a) effecting any merger or consolidation involving the Partnership; (b) effecting any sale or exchange of all or substantially all of Partnership’s assets; (c) dissolving or liquidating the Partnership; (d) creating or causing to exist any consensual restriction on the ability of the Partnership or its subsidiaries to make distributions, pay any indebtedness, make loans or advances or transfer assets to its Limited Partners or their subsidiaries; (e) settling or compromising any claim, dispute or litigation directly against, or otherwise relating to indemnification by the Partnership of, any of the directors or officers of the General Partner; or (f) issuing additional Interestsinterests in the Partnership.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Seadrill Partners LLC), Limited Partnership Agreement (Seadrill Partners LLC)

Approval Required for Certain Action. The In addition to matters set forth in Section 5.3, the General Partner shall not cause the Partnership to, and the Partnership shall not, take any of the following actions without the approval or consent of all Limited Partners the sole member of the General Partner (which consent may be made categorically or by policy): (a) effecting any merger or consolidation involving the Partnership; (b) effecting any sale or exchange of all or substantially all of Partnership’s assets; (c) dissolving or liquidating the Partnership; (d) creating or causing to exist any consensual restriction on the ability of the Partnership or its subsidiaries to make distributions, pay any indebtedness, make loans or advances or transfer assets to its Limited Partners or their subsidiaries; (e) settling or compromising any claim, dispute or litigation directly against, or otherwise relating to indemnification by the Partnership of, any of the directors or officers of the General Partner; or (f) issuing additional Interestsinterests in the Partnership.

Appears in 1 contract

Samples: Limited Partnership Agreement (Seadrill Partners LLC)

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Approval Required for Certain Action. The In addition to matters set forth in Section 5.2, the General Partner shall not cause the Partnership to, and the Partnership shall not, take any of the following actions without the approval or consent of all the Limited Partners (which consent may be made categorically or by policy): (a) effecting any merger or consolidation involving the Partnership; (b) effecting any sale or exchange of all or substantially all of Partnership’s assets; (c) dissolving or liquidating the Partnership; (d) creating or causing to exist any consensual restriction on the ability of the Partnership or its subsidiaries to make distributions, pay any indebtedness, make loans or advances or transfer assets to its Limited Partners or their subsidiaries; (e) settling or compromising any claim, dispute or litigation directly against, or otherwise relating to indemnification by the Partnership of, any of the directors or officers of the General Partner; or (f) issuing additional Interestsinterests in the Partnership.

Appears in 1 contract

Samples: Limited Partnership Agreement (Westlake Chemical Partners LP)

Approval Required for Certain Action. The In addition to matters set forth in Section 6.1, the General Partner shall not cause the Partnership to, and the Partnership shall not, take any of the following actions without the approval or consent of all the Limited Partners (which consent may be made categorically or by policy): (a) effecting any merger or consolidation involving the Partnership; (b) effecting any sale or exchange of all or substantially all of Partnership’s 's assets; (c) dissolving or liquidating the Partnership; (d) creating or causing to exist any consensual restriction on the ability of the Partnership or its subsidiaries subsidiaries (e) to make distributions, pay any indebtedness, make loans or advances or transfer assets to its Limited Partners or their subsidiaries; (ef) settling or compromising any claim, dispute or litigation directly against, or otherwise relating to indemnification by the Partnership of, any of the directors or officers of the General Partner; or (fg) issuing additional Interestsinterests in the Partnership.

Appears in 1 contract

Samples: Limited Partnership Agreement (CPG OpCo LP)

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