Common use of Restructuring Common Units Clause in Contracts

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 UnitsUnits have been duly authorized and, 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 Original LP Agreement and Restated Partnership the Revised LP Agreement) ), and non-assessable (assessable, except as such non-assessability may be affected by Sections 17-303, Section 17-607 or 17-804 of the Delaware Revised Uniform Limited Partnership Act).

Restructuring Common Units. The Restructuring Common Units, when issued and delivered to the General Partner or its Affiliate(s) in accordance with the terms hereof, will be duly authorized, validly issued, fully paid (to the extent required by the Fourth Third 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)) Common Units of PSXP.

Restructuring Common Units. The Restructuring Common Units, when issued and delivered to the General Partner or its Affiliate(s) in accordance with the terms hereof, will be duly authorized, validly issued, fully paid (to the extent required by the Fourth Second 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).