Common use of Restricted Businesses Clause in Contracts

Restricted Businesses. For so long as a Sponsor participates in the control of the General Partner, and except as permitted by Section 2.2, each Sponsor shall be prohibited from, directly or indirectly, owning, operating or investing in any business having assets engaged in the following activities (each, a “Restricted Business”): (i) owning or entering into leases with a party other than an Affiliate of a Sponsor of any fee coal reserves within the United States owned by a Sponsor; or (ii) owning or entering into subleases with a party other than an Affiliate of a Sponsor of any coal reserves within the United States controlled by a paid-up lease owned by a Sponsor.

Appears in 2 contracts

Samples: Omnibus Agreement (Natural Resource Partners Lp), Omnibus Agreement

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Restricted Businesses. For so long as a Sponsor participates in the control of the General Partner, and except as permitted by Section 2.2, each Sponsor and its Affiliates shall be prohibited from, directly or indirectly, owning, operating or investing in any business having assets engaged in the following activities (each, a "Restricted Business"): (i) owning or entering into leases with a party other than an Affiliate of a Sponsor of any fee coal reserves within the United States owned by a SponsorSponsor or its Affiliate; or (ii) owning or entering into subleases with a party other than an Affiliate of a Sponsor of any coal reserves within the United States controlled by a paid-up lease owned by a SponsorSponsor or its Affiliate.

Appears in 1 contract

Samples: Omnibus Agreement (Natural Resource Partners Lp)

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Restricted Businesses. For so long as a Sponsor participates in the control of the General Partner, and except as permitted by Section 2.2, each Sponsor the Sponsors and their Affiliates shall be prohibited from, directly or indirectly, from owning, operating or investing in any business having assets engaged in the following activities (each, a "Restricted Business"): (i) owning or entering into leases with a party other than an Affiliate of a Sponsor of any fee coal reserves within the United States owned by a SponsorSponsor or its Affiliate; or (ii) owning or entering into subleases with a party other than an Affiliate of a Sponsor of any coal reserves within the United States controlled by a paid-up lease owned by a SponsorSponsor or its Affiliate.

Appears in 1 contract

Samples: Omnibus Agreement (Natural Resource Partners Lp)

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