Restructuring Common Units Sample Clauses
The 'Restructuring Common Units' clause defines the process and conditions under which common units in a company or partnership may be reorganized, consolidated, or otherwise altered. This clause typically outlines the procedures for converting, splitting, or merging units, and may specify the approval requirements or notice periods involved. Its core practical function is to provide a clear framework for modifying the structure of ownership interests, ensuring that all parties understand how changes to common units can be implemented and reducing the risk of disputes during restructuring events.
Restructuring Common Units. The Restructuring Common Units, when issued and delivered to the General Partner in accordance with the terms hereof, will be duly authorized, validly issued, fully paid (to the extent required by the Fourth Amended and Restated Partnership Agreement) and non-assessable (except as such non-assessability may be affected by Sections 17-303, 17-607 or 17-804 of the Delaware Act).
Restructuring Common Units. The Restructuring Common Units will be duly authorized and, when issued and delivered to AMLP GP in accordance with the terms hereof, will be validly issued, fully paid (to the extent required by the Original LP Agreement and the Revised LP Agreement), and non-assessable.
Restructuring Common Units. The Restructuring Common Units will be duly authorized and, when issued and delivered to the General Partner in accordance with the terms hereof, will be validly issued, fully paid (to the extent required by the Revised LP Agreement), and non-assessable (subject to Sections 17-303, 17-607 and 17-804 of the Delaware Revised Uniform Limited Partnership Act), and free and clear of all Encumbrances, except for (i) restrictions on transfer arising under applicable securities Laws and (ii) the applicable terms and conditions of the Organizational Documents of the Partnership. The Restructuring Common Units have been approved for listing on The New York Stock Exchange upon official notice of issuance.
Restructuring Common Units. The Restructuring Common Units will be duly authorized and, when issued and delivered to SEP GP in accordance with the terms hereof, will be validly issued, fully paid (to the extent required by the SEP Partnership Agreement and Amended Partnership Agreement) and non-assessable (subject to Sections 17-303, 17-607 and 17-804 of the Delaware Revised Uniform Limited Partnership Act and to the extent required by the SEP Partnership Agreement and Amended Partnership Agreement).