Conveyance by the Selling Unitholder of the Partnership Contribution Interest to the Partnership. The Selling Unitholder hereby grants, contributes and bargains, and shall, by means of the execution of a Deed of Transfer, convey, assign, transfer, set over and deliver to the Partnership, all right, title and interest in and to the Partnership Contribution Interest, as a capital contribution, in exchange for (i) 20,125,000 Common Units, representing a 49.0% limited partner interest in the Partnership and (ii) 20,125,000 Subordinated Units representing a 49.0% limited partner interest in the Partnership. The Partnership hereby accepts such Partnership Contribution Interest as a contribution to the capital of the Partnership (the “First Partnership Contribution”). As per the execution of the Deed of Transfer whereby the First Partnership Contribution is effectuated, the Partnership is admitted to VTTI Operating as a shareholder of VTTI Operating and agrees that it is bound by the VTTI Operating Charter as a shareholder of VTTI Operating, and VTTI Operating continues without dissolution with the Partnership as a shareholder.
Appears in 2 contracts
Samples: Contribution, Conveyance and Assumption Agreement, Contribution, Conveyance and Assumption Agreement (VTTI Energy Partners LP)
Conveyance by the Selling Unitholder of the Partnership Contribution Interest to the Partnership. The Selling Unitholder hereby grants, contributes and bargains, and shall, by means of the execution of a Deed of Transfer, convey, assign, transfer, set over and deliver to the Partnership, all right, title and interest in and to the Partnership Contribution Interest, as a capital contribution, in exchange for (i) 20,125,000 Common Units, representing a 49.0% limited partner interest in the Partnership and (ii) 20,125,000 Subordinated Units representing a 49.0% limited partner interest in the Partnership. The Partnership hereby accepts such Partnership Contribution Interest as a contribution to the capital of the Partnership (the “First Partnership Contribution”). As per the execution of the Deed of Transfer whereby the First Partnership Contribution is effectuated, the Partnership is admitted to VTTI Operating as a shareholder of VTTI Operating and agrees that it is bound by the VTTI Operating Charter as a shareholder of VTTI Operating, and VTTI Operating continues without dissolution with the Partnership as a shareholder.
Appears in 2 contracts
Samples: Contribution, Conveyance and Assumption Agreement (VTTI Energy Partners LP), Contribution, Conveyance and Assumption Agreement (VTTI Energy Partners LP)