Common use of Limited Partner Interest Clause in Contracts

Limited Partner Interest. The General Partner is the sole limited partner of MainLine L.P., with a 99.999% limited partner interest in MainLine L.P.; such limited partner interest is the only limited partner interest of MainLine L.P. that is issued and outstanding; and such limited partner interest has been duly authorized and validly issued pursuant to the agreement of limited partnership of MainLine L.P., as amended and restated to the date hereof, is fully paid and non-assessable (except to the extent such nonassessability may be affected by Section 17-607 of the DRULPA) and is owned by the General Partner free and clear of any Liens.

Appears in 3 contracts

Samples: Underwriting Agreement (Buckeye Partners L P), Underwriting Agreement (Buckeye Partners L P), Underwriting Agreement (Buckeye Partners L P)

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Limited Partner Interest. The General Partner is the sole limited partner of MainLine L.P., with a 99.999% limited partner interest in MainLine L.P.; such limited partner interest is the only limited partner interest of MainLine L.P. that is issued and outstanding; and such limited partner interest has been duly and validly authorized and validly issued pursuant to the agreement of such limited partnership partner interest of MainLine L.P., as amended and restated to the date hereof, is fully paid and non-assessable (except to the extent such nonassessability may be affected by Section 17-607 of the DRULPA) and L.P. is owned by the General Partner free and clear of any Liens.

Appears in 1 contract

Samples: Underwriting Agreement (Buckeye Partners L P)

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