General Partner Interests. I. Direct investments in oil, gas, or other mineral exploration or development programs.
General Partner Interests. The General Partner is the sole general partner of the Partnership, with a noneconomic general partner interest in the Partnership; such general partner interest is the only general partner interest of the Partnership that is issued and outstanding; and such general partner interest has been duly authorized and validly issued and is owned by the General Partner free and clear of any Liens.
General Partner Interests. MainLine L.P. is the sole general partner of each of the Operating Partnerships, with a general partner interest in each of the Operating Partnerships of 1% (other than BPH, in which MainLine L.P. holds a general partner interest of approximately 0.5%); such general partner interests are the only general partner interests of the Operating Partnerships that are issued and outstanding; and such general partner interests have been duly authorized and validly issued and are owned by MainLine L.P. free and clear of any Liens.
General Partner Interests. (i) In gen- eral. Except as provided in paragraph (c)(4)(ii)(B)(4)(ii) of this section, if an S corporation disposes of a general part- ner interest, the gain on the disposi- tion is treated as gain from the sale of stock or securities to the extent of the amount the S corporation would have received as a distributive share of gain from the sale of stock or securities held by the partnership if all of the stock and securities held by the part- nership had been sold by the partner- ship at fair market value at the time the S corporation disposes of the gen- eral partner interest. In applying this rule, the S corporation’s distributive share of gain from the sale of stock or securities held by the partnership is not reduced to reflect any loss that would be recognized from the sale of stock or securities held by the partner- ship. In the case of tiered partnerships, the rules of this section apply by look- ing through each tier.
General Partner Interests. Buckeye Gulf Coast Holdings I, LLC, a Delaware limited liability company (“BGC I”), is the sole general partner of BGC, with a general partner interest in BGC of 1%; Gulf Coast/Products GP Holding LLC, a Delaware limited liability company (“Gulf Coast GP LLC”), is the sole general partner of each of Gulf Coast LP and GCP, with a general partner interest in each of Gulf Coast LP and GCP of 1%; all of the outstanding general partner interests of each of BGC, Gulf Coast LP and GCP have been duly authorized and validly issued and such general partner interests of each of BGC, Gulf Coast LP and GCP are owned free and clear of any Liens.
General Partner Interests. At or about the Effective Time, the General Partner shall make a Capital Contribution to the Partnership in exchange for Partnership Units as contemplated by the Master Agreement.
General Partner Interests. BGC I is the sole general partner of BGC, with a general partner interest in BGC of 1%; Gulf Coast GP LLC is the sole general partner of each of Gulf Coast LP, GCP and BPP, with a general partner interest in each of Gulf Coast LP, GCP and BPP of 1%; all of the outstanding general partner interests of each of BGC, Gulf Coast LP, GCP and BPP have been duly authorized and validly issued and such general partner interests of each of BGC, Gulf Coast LP, GCP and BPP are owned free and clear of any Liens.
General Partner Interests. The General Partner is the sole general partner of each of the Operating Partnerships, with a general partner interest in each of the Operating Partnerships of 1% (other than BPH, which is slightly less than 1%); such general partner interests are the only general partner interests issued and outstanding; such general partner interests of each of the Operating Partnerships have been duly authorized and validly issued, and such general partner interests of the Operating Partnerships are owned by the General Partner free and clear of any Liens, except for the pledge of such general partner interests in connection with the BPLA Loan.
General Partner Interests. Schedule 4.22 of Seller’s Disclosure Schedules (the “General Partner Interests Schedule”) sets forth a true and complete list of all limited partnerships and limited liability companies that are private equity funds or other private equity investment vehicles in which any Company or Transferred Subsidiary is acting as a general partner, managing member or in a similar capacity (collectively, the “General Partner Interests”). Each Company and Transferred Subsidiary has, in all material respects, properly administered and satisfied all of its obligations as general partner with respect to all General Partner Interests in accordance with the terms of their limited partnership agreements, limited liability company agreements and other governing Contracts and applicable Law. No Company or Transferred Subsidiary is, and to the Knowledge of Seller, no other Person is, in material breach or material default in the performance, observance or fulfillment of any obligation, covenant, condition or other term under any limited partnership agreement or other governing Contract relating to a General Partner Interest. No Company or Transferred Subsidiary has given or received written notice to or from any Person relating to any such alleged or potential material default in a General Partner Interest that has not been cured.
General Partner Interests. The General Partner is the sole general partner of the Partnership, with an approximate 1% general partner interest in the Partnership, which is represented by 243,914 units; such general partner interest of the Partnership is the only general partner interest that is issued and outstanding; such general partner interest has been duly and validly authorized and such general partner interest of the Partnership is owned by the General Partner free and clear of any Liens except for the pledge of such general partner interest in connection with the Credit and Guaranty Agreement dated as of May 4, 2004, by and among BPL Acquisition L.P., a Delaware limited partnership and indirect owner of the General Partner ("BPLA"), Glenmoor LLC, a Delaware limited liability company ("Glenmoor"), BMC, the General Partner and Goldman Sachs Credit Partners L.P. and the lenders thereunder, as amenxxx xxxtxxx xo the date hereof (the "BPLA Loan").
