Common use of Ownership of the General Partner Clause in Contracts

Ownership of the General Partner. The Partnership 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 limited liability company agreement of the General Partner, and the Partnership owns such membership interests free and clear of all Liens, except for any Liens described in the Time of Sale Prospectus and the Prospectus.

Appears in 11 contracts

Samples: Underwriting Agreement (Magellan Midstream Partners, L.P.), Underwriting Agreement (Magellan Midstream Partners, L.P.), Underwriting Agreement (Magellan Midstream Partners, L.P.)

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Ownership of the General Partner. The Partnership 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 limited liability company agreement of the General PartnerPartner (the “GP LLC Agreement”), and the Partnership owns such membership interests free and clear of all liens, encumbrances, security interests, equities, charges or claims (collectively, “Liens, except for any Liens described in the Time of Sale Prospectus and the Prospectus”).

Appears in 3 contracts

Samples: Underwriting Agreement (Magellan Midstream Partners Lp), Underwriting Agreement (Magellan Midstream Partners Lp), Underwriting Agreement (Magellan Midstream Partners Lp)

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Ownership of the General Partner. The Partnership owns 100% of the issued and outstanding membership interests in the General Partner; such . Such membership interests have been duly authorized and validly issued in accordance with the limited liability company agreement of the General Partner, are fully paid (to the extent required by the limited liability company agreement of the General Partner) and nonassessable (except as such nonassessability may be affected by Sections 18-607 and 18-804 of the DLLCA), and the Partnership owns such membership interests free and clear of all Liens, except for any Liens described in the Time of Sale Prospectus and the Prospectus.

Appears in 1 contract

Samples: Equity Distribution Agreement (Magellan Midstream Partners Lp)

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