Conversion of Subordinated Units. (a) All of the Subordinated Units shall convert into Common Units on a one-for-one basis on the first Business Day following the distribution of Available Cash to Partners pursuant to Section 6.3(a) in respect of the final Quarter of the Subordination Period. (b) Notwithstanding any other provision of this Agreement, all the then Outstanding Subordinated Units may convert into Common Units on a one-for-one basis as set forth in, and pursuant to the terms of, Section 11.4. (c) A Subordinated Unit that has converted into a Common Unit shall be subject to the provisions of Section 6.7.
Appears in 15 contracts
Samples: Limited Partnership Agreement (Rhino Resource Partners LP), Agreement of Limited Partnership (Royal Energy Resources, Inc.), Agreement of Limited Partnership (Rhino Resource Partners LP)
Conversion of Subordinated Units. (a) All of the The Subordinated Units shall convert into Common Units on a one-for-one basis on the first second Business Day following the distribution of Available Cash cash and cash equivalents to Partners pursuant to Section 6.3(a) in respect of the final Quarter of the Subordination Period.
(b) Notwithstanding any other provision of this Agreement, all the then Outstanding Subordinated Units may also convert into Common Units on a one-for-one basis as set forth in, and pursuant to the terms of, Section 11.4.
(c) A Subordinated Unit that has converted into a Common Unit shall be subject to the provisions of Section 6.74.10.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Sprague Resources LP), Limited Partnership Agreement (Sprague Resources LP), Limited Partnership Agreement (Sprague Resources LP)
Conversion of Subordinated Units. (a) All of the Subordinated Units shall convert into Common Units on a one-for-one basis on the first second Business Day following the distribution of Available Cash to Partners pursuant to Section 6.3(a) in respect of the final Quarter of the Subordination Period.
(b) Notwithstanding any other provision of this Agreement, all the then Outstanding Subordinated Units may will automatically convert into Common Units on a one-for-one basis as set forth in, and pursuant to the terms of, Section 11.4.
(c) A Subordinated Unit that has converted into a Common Unit shall be subject to the provisions of Section 6.76.7(b).
Appears in 2 contracts
Samples: Limited Partnership Agreement (Calumet Specialty Products Partners, L.P.), Agreement of Limited Partnership (Holly Energy Partners Lp)
Conversion of Subordinated Units. (a) All of the The Subordinated Units shall convert into Common Units on a one-for-one basis on the first second Business Day following the distribution of Available Cash to Partners pursuant to Section 6.3(a) in respect of the final Quarter of the Subordination Period.
(b) Notwithstanding any other provision of this Agreement, all the then Outstanding Subordinated Units may will automatically convert into Common Units on a one-for-one basis as set forth in, and pursuant to the terms of, Section 11.4.
(c) A Subordinated Unit that has converted into a Common Unit shall be subject to the provisions of Section 6.76.7(b).
Appears in 1 contract
Samples: Agreement of Limited Partnership (Global Partners Lp)
Conversion of Subordinated Units. (a) All of the Subordinated Units shall convert into Common Units on a one-for-one basis on the first Business Day following the distribution of Available Cash to Partners pursuant to Section 6.3(a) in respect of the final Quarter of the Subordination Period.. WESTERN REFINING LOGISTICS, LP SECOND AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP
(b) Notwithstanding any other provision of this Agreement, all of the then Outstanding Subordinated Units may convert into Common Units on a one-for-one basis as set forth in, and pursuant to the terms of, Section 11.4.
(c) A Subordinated Unit that has converted into a Common Unit shall be subject to the provisions of Section 6.7.
Appears in 1 contract
Samples: Limited Partnership Agreement (Western Refining Logistics, LP)
Conversion of Subordinated Units. (a) All of the Subordinated Units shall automatically convert into Common Units on a one-for-one basis on the first Business Day following the distribution of Available Cash to Partners pursuant to Section 6.3(a) in respect of the final Quarter of the Subordination Period.
(b) Notwithstanding any other provision of this Agreement, all the then Outstanding Subordinated Units may convert into Common Units on a one-for-one basis as set forth in, and pursuant to the terms of, Section 11.4.
(c) A Subordinated Common Unit that has converted into been issued upon conversion of a Common Subordinated Unit shall be subject to the provisions of Section 6.7.
Appears in 1 contract
Samples: Limited Partnership Agreement (USA Compression Partners, LP)
