Removal of the General Partner. The General Partner may be removed only if such removal is approved by the Unitholders holding at least 66 2/3% of the Outstanding Units (excluding for this purpose any Units held by the General Partner and its Affiliates). Any such action by such holders for removal of the General Partner must also provide for the election of a successor General Partner by the Unitholders holding a majority of the Outstanding Units (excluding for this purpose any Units held by the General Partner and its Affiliates). Such removal shall be effective immediately following the admission of a successor General Partner.
Appears in 24 contracts
Samples: Limited Partnership Agreement (United States Diesel-Heating Oil Fund, LP), Limited Partnership Agreement (United States Short Oil Fund, LP), Limited Partnership Agreement (United States 12 Month Oil Fund, LP)
Removal of the General Partner. The General Partner may be removed only if such removal is approved by the Unitholders holding at least 66 2/3% of the Outstanding Units (excluding for this purpose any including Units held by the General Partner and its Affiliates)) voting as a single class. Any such action by such holders for removal of the General Partner must also provide for the election of a successor General Partner by the Unitholders holding a majority of the Outstanding outstanding Common Units voting as a class and Unitholders holding a majority of the outstanding Subordinated Units (excluding for this purpose if any Subordinated Units held by the General Partner and its Affiliates). Such removal shall be effective immediately following the admission of are then Outstanding) voting as a successor General Partner.class (including, in each case, Units
Appears in 1 contract
Samples: Limited Partnership Agreement
Removal of the General Partner. The General Partner may be removed only if such removal is approved by the Unitholders holding at least 66 2/385% of the Outstanding Units (excluding for this purpose any including Units held by the General Partner and its Affiliates)) voting as a single class. Any such action by such holders for removal of the General Partner must also provide for the election of a successor General Partner by the Unitholders holding a majority of the Outstanding Units Common Units, voting as a class (excluding for this purpose any including Common Units held by the General Partner and its Affiliates). Such removal shall be effective immediately following the admission of a successor General Partner.its
Appears in 1 contract
Samples: Agreement of Limited Partnership (Harbinger Group Inc.)
