Common use of Limited Partner Interests Clause in Contracts

Limited Partner Interests. The limited partners of the Partnership hold Units in the Partnership aggregating an approximate 99% limited partner interest in the Partnership, represented as of October 12, 2004 and excluding the Offered Units, by (i) 26,302,860 publicly-traded Units (representing an approximate 92.5% limited partner interest), (ii) 2,395,886 Units (representing an approximate 6.6% limited partner interest) owned by Services Company (the "Service Company LP Units") and (iii) 80,000 Units (representing an approximate 0.22% limited partner interest) owned by Glenmoor (the "Glenmoor LP Units"); such Units are the only limited partner interests of the Partnership that are issued and outstanding; all of such limited partner interests of the Partnership have been duly authorized and validly issued pursuant to the agreement of limited partnership of the Partnership, as amended and restated to the date hereof (the "Partnership Agreement") and are fully paid and nonassessable (except to the extent such nonassessability may be affected by Section 17-607 of the DRULPA); and the Services Company LP Units are owned free and clear of any Liens, except for the pledge of such Units in connection with the ESOP Notes and the Glenmoor LP Units are owned free and clear of any Liens, except for the pledge of such Units in connection with the BPLA Loan.

Appears in 1 contract

Samples: Underwriting Agreement (Buckeye Partners L P)

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Limited Partner Interests. The limited partners of the Partnership hold Units in the Partnership aggregating an approximate 99% limited partner interest in the Partnership, represented as of October 12February 1, 2004 2005 and excluding the Offered Units, by (i) 26,302,860 31,809,597 publicly-traded Units (representing an approximate 92.592.8% limited partner interest), (ii) 2,395,886 2,394,949 Units (representing an approximate 6.67.0% limited partner interest) owned by Services Company (the "Service Company LP Units") and (iii) 80,000 Units (representing an approximate 0.220.23% limited partner interest) owned by Glenmoor MainLine Sub (the "Glenmoor MainLine Sub LP Units"); such Units are the only limited partner interests of the Partnership that are issued and outstanding; all of such limited partner interests of the Partnership have been duly authorized and validly issued pursuant to the agreement of limited partnership of the Partnership, as amended and restated to the date hereof (the "Partnership Agreement") and are fully paid and nonassessable (except to the extent such nonassessability may be affected by Section 17-607 of the DRULPA); and the Services Company LP Units are owned free and clear of any Liens, except for the pledge of such Units in connection with the ESOP Notes and the Glenmoor MainLine Sub LP Units are owned free and clear of any Liens, except for the pledge of such Units in connection with the BPLA Loan.

Appears in 1 contract

Samples: Underwriting Agreement (Buckeye Partners L P)

Limited Partner Interests. The limited partners of the Partnership hold Units in the Partnership aggregating an approximate 99% limited partner interest in the Partnership, represented as of October 12February 28, 2004 2006 and excluding the Offered Units, by (i) 26,302,860 35,487,348 publicly-traded Units (representing an approximate 92.593.0% limited partner interest), (ii) 2,395,886 2,359,098 Units (representing an approximate 6.66.2% limited partner interest) owned by Services Company (the "Service Company LP Units") and (iii) 80,000 Units (representing an approximate 0.220.2% limited partner interest) owned by Glenmoor MainLine Sub (the "Glenmoor “MainLine Sub LP Units"); such Units are the only limited partner interests of the Partnership that are issued and outstanding; all of such limited partner interests of the Partnership have been duly authorized and validly issued pursuant to the agreement of limited partnership of the Partnership, as amended and restated to the date hereof (the "Partnership Agreement") and are fully paid and nonassessable (except to the extent such nonassessability may be affected by Section 17-607 of the DRULPA); and the Services Company LP Units are owned free and clear of any Liens, except for the pledge of such Units in connection with the ESOP Notes and the Glenmoor MainLine Sub LP Units are owned free and clear of any Liens, except for the pledge of such Units in connection with the BPLA Loan.

Appears in 1 contract

Samples: Underwriting Agreement (Buckeye Partners L P)

Limited Partner Interests. The limited partners of the Partnership hold LP Units in the Partnership aggregating an approximate 99% limited partner interest in the Partnership, represented by (as of October 12August 2, 2004 2007 and excluding the Offered Units, by ) (i) 26,302,860 38,915,745 publicly-traded LP Units (representing an approximate 92.593.9% limited partner interest), (ii) 2,395,886 2,213,001 LP Units (representing an approximate 6.65.3% limited partner interest) owned by Services Company (the "Service Company LP Units") ”), and (iii) 80,000 LP Units (representing an approximate 0.22% limited partner interest) owned by Glenmoor BGH (the "Glenmoor “BGH LP Units"); such LP Units are the only limited partner interests of the Partnership that are issued and outstanding; all of such limited partner interests of the Partnership have been duly authorized and validly issued pursuant to the agreement of limited partnership of the Partnership, as amended and restated to the date hereof (the "Partnership Agreement") and are fully paid and nonassessable (except to the extent such nonassessability may be affected by Section 17-607 of the DRULPA); and the Services Company LP Units are owned free and clear of any Liens, except for the pledge of such LP Units in connection with the ESOP Notes and the Glenmoor LP Units are owned free and clear of any Liens, except for the pledge of such Units in connection with the BPLA LoanNotes.

Appears in 1 contract

Samples: Underwriting Agreement (Buckeye Partners L P)

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Limited Partner Interests. The limited partners of the Partnership hold Units in the Partnership aggregating an approximate 99% limited partner interest in the Partnership, represented as of October 12May 10, 2004 2005 and excluding the Offered Units, by (i) 26,302,860 32,953,426 publicly-traded Units (representing an approximate 92.592.4% limited partner interest), (ii) 2,395,886 2,377,720 Units (representing an approximate 6.66.7% limited partner interest) owned by Services Company (the "Service Company LP Units") and (iii) 80,000 Units (representing an approximate 0.22% limited partner interest) owned by Glenmoor MainLine Sub (the "Glenmoor “MainLine Sub LP Units"); such Units are the only limited partner interests of the Partnership that are issued and outstanding; all of such limited partner interests of the Partnership have been duly authorized and validly issued pursuant to the agreement of limited partnership of the Partnership, as amended and restated to the date hereof (the "Partnership Agreement") and are fully paid and nonassessable (except to the extent such nonassessability may be affected by Section 17-607 of the DRULPA); and the Services Company LP Units are owned free and clear of any Liens, except for the pledge of such Units in connection with the ESOP Notes and the Glenmoor MainLine Sub LP Units are owned free and clear of any Liens, except for the pledge of such Units in connection with the BPLA Loan.

Appears in 1 contract

Samples: Underwriting Agreement (Buckeye Partners L P)

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