Common use of Capitalization of the Partnership Clause in Contracts

Capitalization of the Partnership. As of the date hereof, the Partnership had outstanding an aggregate of 17,026,321 Common Units, 7,525,000 Subordinated Units, the GP Interest and the Incentive Distribution Rights. Such Common Units and Subordinated Units 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 the matters described in Sections 17-303, 17-607 and 17-804 of the Delaware LP Act).

Appears in 1 contract

Samples: Underwriting Agreement (CrossAmerica Partners LP)

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Capitalization of the Partnership. As of the date hereof, the Partnership had outstanding an aggregate of 17,026,321 11,194,203 Common Units, 7,525,000 Subordinated Units, the GP Interest and the Incentive Distribution Rights. Such Common Units and Subordinated Units 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 the matters described in Sections 17-303, 17-607 and 17-804 of the Delaware LP Act).

Appears in 1 contract

Samples: Underwriting Agreement (Lehigh Gas Partners LP)

Capitalization of the Partnership. As At the Execution Time, the issued and outstanding partnership interests of the date hereof, the Partnership had outstanding an aggregate will consist of 17,026,321 41,972,093 Common Units, 7,525,000 24,409,850 Subordinated Units, the GP Interest and the Incentive Distribution Rights. Such All outstanding Common Units and Subordinated Units and the limited partner interests represented thereby have been duly authorized and validly issued in accordance with the Partnership Agreement Agreement, and are fully paid (to the extent required under the Partnership Agreement) and nonassessable (except as such nonassessability may be affected by the matters described in Sections 17-303, 17-607 and 17-804 of the Delaware LP Act).

Appears in 1 contract

Samples: Equity Distribution Agreement (Summit Midstream Partners, LP)

Capitalization of the Partnership. As At the Applicable Time, the issued and outstanding partnership interests of the date hereof, the Partnership had outstanding an aggregate will consist of 17,026,321 29,079,866 Common Units, 7,525,000 24,409,850 Subordinated Units, the GP Interest and the Incentive Distribution Rights. Such All outstanding Common Units and Subordinated Units and the limited partner interests represented thereby have been duly authorized and validly issued in accordance with the Partnership Agreement Agreement, and are fully paid (to the extent required under the Partnership Agreement) and nonassessable (except as such nonassessability non-assessability may be affected by the matters described in Sections 17-303, 17-607 and 17-804 of the Delaware LP Act).

Appears in 1 contract

Samples: Underwriting Agreement (Summit Midstream Partners, LP)

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Capitalization of the Partnership. As of the date hereof, the issued and outstanding partnership interests of the Partnership had outstanding an aggregate consisted of 17,026,321 4,429,915 Common Units, 7,525,000 Subordinated Units, the GP Interest 19,444,445 Class B Preferred Units and the Incentive Distribution Rights. Such All outstanding Common Units and Subordinated Class B Preferred Units and the limited partner interests represented thereby have been duly authorized and validly issued in accordance with the Partnership Agreement Agreement, and are fully paid (to the extent required under the Partnership Agreement) and nonassessable (except as such nonassessability non-assessability may be affected by the matters described in Sections 17-303, 17-607 and 17-804 of the Delaware LP Act).

Appears in 1 contract

Samples: Common Unit Purchase Agreement (Sanchez Production Partners LP)

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