Ownership of Operating LPs Sample Clauses

Ownership of Operating LPs. At each Time of Delivery, after giving effect to the Transactions: (i) Pipeline LP. Pipeline GP LLC will be the sole general partner of Pipeline LP with a .001% general partner interest in Pipeline LP, such general partner interest will be duly authorized and validly issued in accordance with the partnership agreement of Pipeline LP; and Pipeline GP LLC will own such general partner interest free and clear of all liens, encumbrances (except restrictions on transferability as described in the Prospectus), security interests, equities, charges or claims; the Operating Partnership will be the sole limited partner of Pipeline LP with a 99.999% limited partner interest in Pipeline LP; such limited partner interest will have been duly authorized and validly issued in accordance with the partnership agreement of Pipeline LP, and will be fully paid (to the extent required under such partnership agreement) and nonassessable (except as such nonassessability may be affected by Section 17-607 of the Delaware LP Act); and the Operating Partnership will own such limited partner interest free and clear of all liens, encumbrances, security interests, equities, charges or claims. (ii) Navajo Southern LP. Pipeline GP LLC will be the sole general partner of Navajo Southern LP with a .001% general partner interest in Navajo Southern LP, such general partner interest will be duly authorized and validly issued in accordance with the partnership agreement of Navajo Southern LP; and Pipeline GP LLC will own such general partner interest free and clear of all liens, encumbrances (except restrictions on transferability as described in the Prospectus), security interests, equities, charges or claims; the Operating Partnership will be the sole limited partner of Navajo Southern LP with a 99.999% limited partner interest in Navajo Southern LP; such limited partner interest will have been duly authorized and validly issued in accordance with the partnership agreement of Navajo Southern LP, and will be fully paid (to the extent required under such partnership agreement) and nonassessable (except as such nonassessability may be affected by Section 17-607 of the Delaware LP Act); and the Operating Partnership will own such limited partner interest free and clear of all liens, encumbrances, security interests, equities, charges or claims. (iii) Refining LP. Refining GP will be the sole general partner of Refining LP with a .001% general partner interest in Refining LP, such general partner...
Sample 1
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Related to Ownership of Operating LPs

  • Conduct of Operations The Board of Directors and the General Partner shall use commercially reasonable efforts to conduct the business of the Partnership and its Affiliates in a manner that does not require a holder of Common Units to file a tax return in any jurisdiction with which the holder has no contact other than through ownership of Common Units.

  • Ownership of Other Entities Other than the subsidiaries of the Company listed in Exhibit 21 to the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2018, the Company, directly or indirectly, owns no capital stock or other equity or ownership or proprietary interest in any corporation, partnership, association, trust or other entity.

  • Company Ownership of Other Entities The Company does not own an interest in any corporation, partnership, limited liability company, joint venture, trust or other entity.

  • Date of Operation 3.1 This Agreement remains in force until 2/7/2027. The agreement will continue to apply beyond its expiration date until it is replaced in accordance with the FW Act.

  • Statement of Operations Statement of Changes in Net Assets.

  • TRANSFER OF OPERATIONS Purchaser shall be entitled to immediate possession of, and to exercise all rights arising under, the Assets from and after the time that the Restaurants open for business on the Closing Date, and operation of the Restaurants shall transfer at such time (the "Effective Time"). Except as expressly provided in this Agreement, all profits, losses, liabilities, claims, or injuries arising before the Effective Time shall be solely to the benefit or the risk of Seller. All such occurrences after the Effective Time shall be solely to the benefit or the risk of Purchaser. The risk of loss or damage by fire, storm, flood, theft, or other casualty or cause shall be in all respects upon Seller prior to the Effective Time and upon the Purchaser thereafter.

  • Ownership of the Company At all times while this Parent Guarantee Agreement is in effect and while any of the obligations of the Parent Guarantor hereunder remain outstanding, one hundred percent (100%) of the outstanding capital stock of the Company shall be owned by the Parent Guarantor.

  • Ownership of Subsidiaries The Borrower will, and will cause each of its Subsidiaries to, take such action from time to time as shall be necessary to ensure that each of its Subsidiaries is a wholly owned Subsidiary.

  • CONTINUITY OF OPERATION Section 1: No Strikes, Work Stoppages or Lockouts

  • Commencement of Operations The Partnership shall not begin operations on its Leases unless the Managing General Partner is satisfied that necessary title requirements have been satisfied.

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