Compensation and Reimbursement of the General Partner. (a) Except as provided in this Section 7.4 or elsewhere in this Agreement, the Incentive Compensation Agreement or any other agreement contemplated or permitted hereby or thereby, the General Partner shall not be compensated for its services as General Partner to the Partnership. (b) The General Partner shall be promptly reimbursed for all Designated Expenses, in addition to any reimbursement as a result of indemnification in accordance with Section 7.11. The General Partner shall determine such Designated Expenses in any reasonable manner determined by it. (c) The General Partner may propose and adopt without the approval of the Limited Partners fringe benefit plans, including, without limitation, plans comparable to those that covered employees employed by the predecessors to the Operating Partnerships and plans involving the issuance of Units, for the benefit of employees of the General Partner, Partnership, any of the Operating Partnerships, the Manager or any of their respective Affiliates in respect of services performed, or obligated to be performed, directly or indirectly, for the benefit of the Partnership or any of the Operating Partnerships.
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Samples: Limited Partnership Agreement (Buckeye Partners L P), Limited Partnership Agreement (Buckeye Partners L P), Limited Partnership Agreement (Buckeye Partners L P)
Compensation and Reimbursement of the General Partner. (a) Except as provided in this Section 7.4 or elsewhere in this Agreement, the Incentive Compensation Agreement or any other agreement contemplated or permitted hereby or thereby, the General Partner shall not be compensated for its services as General Partner to the Partnership.
(b) The General Partner shall be promptly reimbursed for all Designated Expenses, in addition to any reimbursement as a result of indemnification in accordance with Section 7.117.12. The General Partner shall determine such Designated Expenses in any reasonable manner determined by it.
(c) The General Partner may propose and adopt adopt, without the approval of the Limited Partners Partners, fringe benefit plans, including, without limitation, plans comparable to those that covered employees employed by the predecessors to the Operating Partnerships and plans involving the issuance of Units, for the benefit of employees of the General Partner, Partnership, any of the Operating Partnerships, the Manager or any of their respective Affiliates Partnership Group and Services Company in respect of services performed, or obligated to be performed, directly or indirectly, for the benefit of the Partnership or any of the Operating PartnershipsGroup.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Buckeye Partners, L.P.), Merger Agreement (Buckeye GP Holdings L.P.), Limited Partnership Agreement
Compensation and Reimbursement of the General Partner. (a) Except as provided in this Section 7.4 or elsewhere in this Agreement, the Management Agreements, the Incentive Compensation Agreement or any other agreement contemplated or permitted hereby or thereby, the General Partner shall not be compensated for its services as General Partner to the Partnership.
(b) The General Partner shall be promptly reimbursed for all Designated Expenses, in addition to any reimbursement as a result of indemnification in accordance with Section 7.117.12. The General Partner shall determine such Designated Expenses in any reasonable manner determined by it.
(c) The General Partner may propose and adopt without the approval of the Limited Partners fringe benefit plans, including, without limitation, plans comparable to those that covered employees employed by the predecessors to the Operating Partnerships and plans involving the issuance of Units, for the benefit of employees of the General Partner, Partnership, any of the Operating Partnerships, the Manager Partnerships or any of their respective Affiliates in respect of services performed, or obligated to be performed, directly or indirectly, for the benefit of the Partnership or any of the Operating Partnerships.
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Compensation and Reimbursement of the General Partner. (a) Except as provided in this Section 7.4 or elsewhere in this Agreement, the Incentive Compensation Management Agreement or any other agreement contemplated or permitted hereby or therebyhereby, the General Partner shall not be compensated for its services as General Partner to the Partnership.
(b) The General Partner shall be promptly reimbursed for all Designated Expenses, in addition to any reimbursement as a result of indemnification in accordance with Section 7.117.10 hereof or Section 3.02 of the Management Agreement. The General Partner shall determine such Designated Expenses in any reasonable manner determined by it.
(c) The General Partner may propose and adopt without the approval of the Limited Partners fringe benefit plans, including, without limitation, plans comparable to those that covered employees employed by the predecessors predecessor to the Operating Partnerships Partnership and plans involving the issuance of Unitsdirect or indirect equity interests in the Partnership, for the benefit of employees of the General Partner, Partnership, any of the Operating PartnershipsPartners, the Manager Partnership or any of their respective Affiliates Affiliates, in respect of services performed, or obligated to be performed, directly or indirectly, for the benefit of the Partnership or any of the Operating PartnershipsPartnership.
Appears in 1 contract
Samples: Limited Partnership Agreement (Buckeye Partners L P)
Compensation and Reimbursement of the General Partner. (a) Except as provided in this Section 7.4 or elsewhere in this Agreement, Agreement the Incentive Compensation Agreement or any other agreement contemplated or permitted hereby or thereby, the General Partner shall not be compensated for its services as General Partner to the Partnership.
(b) The General Partner shall be promptly reimbursed for all Designated Expenses, in addition to any reimbursement as a result of indemnification in accordance with Section 7.117.12. The General Partner shall determine such Designated Expenses in any reasonable manner determined by it.
(c) The General Partner may propose and adopt without the approval of the Limited Partners fringe benefit plans, including, without limitation, plans comparable to those that covered employees employed by the predecessors to the Operating Partnerships and plans involving the issuance of Units, for the benefit of employees of the General Partner, Partnership, any of the Operating Partnerships, the Manager Partnerships or any of their respective Affiliates in respect of services performed, or obligated to be performed, directly or indirectly, for the benefit of the Partnership or any of the Operating Partnerships.
Appears in 1 contract
Samples: Limited Partnership Agreement (Buckeye Partners L P)
Compensation and Reimbursement of the General Partner. (a) Except as provided in this Section 7.4 or elsewhere in this Agreement, the Management Agreements, the Incentive Compensation Agreement or any other agreement contemplated or permitted hereby or thereby, the General Partner shall not be compensated for its services as General Partner to the Partnership.
(b) The General Partner shall be promptly reimbursed for all Designated Expenses, in addition to any reimbursement as a result of indemnification in accordance with Section 7.11. The General Partner shall determine such Designated Expenses in any reasonable manner determined by it.
(c) The General Partner may propose and adopt without the approval of the Limited Partners fringe benefit plans, including, without limitation, plans comparable to those that covered employees employed by the predecessors to the Operating Partnerships and plans involving the issuance of Units, for the benefit of employees of the General Partner, Partnership, any of the Operating Partnerships, the Manager Partnerships or any of their respective Affiliates in respect of services performed, or obligated to be performed, directly or indirectly, for the benefit of the Partnership or any of the Operating Partnerships.
Appears in 1 contract
Samples: Limited Partnership Agreement (Buckeye Partners L P)