Common use of Capitalization and Valid Issuance of Purchased Units Clause in Contracts

Capitalization and Valid Issuance of Purchased Units. (a) As of the date of this Agreement, the issued and outstanding limited partner interests of Inergy consist of 17,626,506 Common Units, 5,478,568 Senior Subordinated Units and 1,145,084 Junior Subordinated Units and the Incentive Distribution Rights, as defined in the Partnership Agreement. The only issued and outstanding general partner interests of Inergy are the interests of the General Partners described in the Partnership Agreement. All outstanding Common Units, Senior Subordinated Units, Junior Subordinated Units and Incentive Distribution Rights and the limited partner interests represented thereby have been duly authorized and validly issued in accordance with the Partnership Agreement and are fully paid (to the extent required under the Partnership Agreement) and nonassessable (except as such nonassessability may be affected by matters described in Section 17-607 of the Delaware Revised Uniform Limited Partnership Act (the “Delaware LP Act”).

Capitalization and Valid Issuance of Purchased Units. (a) As of the date of this Agreement, the issued and outstanding limited partner interests of Inergy consist of 17,626,506 26,254,645 Common Units, 5,478,568 Senior Subordinated Units and 1,145,084 Junior Subordinated Units and the Incentive Distribution Rights, as defined in the Partnership Agreement. The only issued and outstanding general partner interests of Inergy are the interests of the General Partners described in the Partnership Agreement. All outstanding Common Units, Senior Subordinated Units, Junior Subordinated Units and Incentive Distribution Rights and the limited partner interests represented thereby have been duly authorized and validly issued in accordance with the Partnership Agreement and are fully paid (to the extent required under the Partnership Agreement) and nonassessable (except as such nonassessability may be affected by matters described in Section 17-607 of the Delaware Revised Uniform Limited Partnership Act (the “Delaware LP Act”).

Capitalization and Valid Issuance of Purchased Units. (a) As of the date of this Agreement, the issued and outstanding limited partner interests of Inergy Crosstex consist of 17,626,506 8,834,312 Common Units, 5,478,568 9,334,000 Subordinated Units, 1,495,410 Senior Subordinated Units and 1,145,084 Junior Subordinated Units and the Incentive Distribution Rights, as defined in the Partnership Agreement. The only issued and outstanding general partner interests of Inergy Crosstex are the interests of the General Partners Partner described in the Partnership Agreement. All outstanding Common Units, Senior Subordinated Units, Junior Senior Subordinated Units and Incentive Distribution Rights and the limited partner interests represented thereby have been duly authorized and validly issued in accordance with the Partnership Agreement and are fully paid (to the extent required under the Partnership Agreement) and nonassessable (except as such nonassessability may be affected by matters described in Section 17-607 of the Delaware Revised Uniform Limited Partnership Act (the “"Delaware LP Act”")).

Capitalization and Valid Issuance of Purchased Units. (a) As of the date of this Agreement, prior to the issuance and sale of the Purchased Units, as contemplated hereby, the issued and outstanding limited partner interests of Inergy Crosstex consist of 17,626,506 41,472,820 Common Units, 5,478,568 3,875,340 Senior Subordinated Units and 1,145,084 Junior Subordinated Series D Units and the Incentive Distribution Rights, Rights (as defined in the Partnership Agreement). The only issued and outstanding general partner interests of Inergy Crosstex are the interests of the General Partners Partner described in the Partnership Agreement. All outstanding Common Units, Senior Subordinated Units, Junior Subordinated Series D Units and Incentive Distribution Rights and the limited partner interests represented thereby have been duly authorized and validly issued in accordance with the Partnership Agreement and are fully paid (to the extent required under the Partnership Agreement) and nonassessable (except as such nonassessability may be affected by matters described in Section 17-607 of the Delaware Revised Uniform Limited Partnership Act (the “Delaware LP Act”)).