Common use of Ownership of General Partner Clause in Contracts

Ownership of General Partner. ETP, as the sole member of the General Partner, directly owns 100% of the issued and outstanding membership interests in the General Partner; such membership interests have been duly authorized and validly issued in accordance with the Amended and Restated Limited Liability Agreement of the General Partner (the “GP LLC Agreement”) and are fully paid (to the extent required by the GP LLC Agreement) and non-assessable (except as such non-assessability may be limited by Sections 18-607 and 18-804 of the Delaware Limited Liability Company Act (the “Delaware LLC Act”)); and ETP owns such membership interests free and clear of all liens, encumbrances, security interests, charges or claims (collectively, “Liens”).

Appears in 3 contracts

Samples: Purchase Agreement, Purchase Agreement (Sunoco LP), Purchase Agreement (Sunoco LP)

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Ownership of General Partner. ETP, as the sole member of the General Partner, directly owns 100% of the issued and outstanding membership interests in the General Partner; such membership interests have been duly authorized and validly issued in accordance with the Amended and Restated Limited Liability Agreement of the General Partner (the “GP LLC Agreement”) and are fully paid (to the extent required by the GP LLC Agreement) and non-assessable (except as such non-assessability may be limited by Sections 18-607 and 18-804 of the Delaware Limited Liability Company Act (the “Delaware LLC Act”)); and ETP owns such membership interests free and clear of all liens, encumbrances, security interests, charges or claims (collectively, “Liens”).

Appears in 1 contract

Samples: Underwriting Agreement (Susser Petroleum Partners LP)

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Ownership of General Partner. ETP, as the sole member of the General Partner, directly EPO owns 100% of the issued and outstanding membership interests in the General Partner; such membership interests have been duly authorized and validly issued in accordance with the Second Amended and Restated Limited Liability Company Agreement of the General Partner Partner, (the “GP LLC Agreement”) and are fully paid (to the extent required by under the GP LLC Agreement) and non-assessable (except as such non-assessability nonassessability may be limited affected by Sections 18-607 and 18-804 of the Delaware Limited Liability Company Act (the “Delaware LLC Act”)); and ETP EPO owns such membership interests free and clear of all liens, encumbrances, security interests, charges or claims (collectively, “Liens”).

Appears in 1 contract

Samples: Underwriting Agreement (Duncan Energy Partners L.P.)

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