Sale of Former General Partner's Interest. If a successor General Partner is approved pursuant to Section 13.1 or 14.2 or the proviso to Section 14.1, such successor shall purchase the GP Units of the former General Partner for an amount in cash equal to the fair market value thereof, determined as of the date the successor General Partner is admitted pursuant to Section 12.
Appears in 5 contracts
Samples: Limited Partnership Agreement (Buckeye Partners L P), Limited Partnership Agreement (Buckeye Partners L P), Limited Partnership Agreement (Buckeye Partners L P)
Sale of Former General Partner's Interest. If a successor General Partner is approved pursuant to Section Sections 13.1 or 14.2 or the proviso to Section 14.1, such successor shall purchase the GP Units Interest of the former General Partner for an amount in cash equal to the fair market value thereof, determined as of the date the successor General Partner is admitted pursuant to Section 12.
Appears in 2 contracts
Samples: Merger Agreement (Buckeye GP Holdings L.P.), Limited Partnership Agreement
Sale of Former General Partner's Interest. If a successor General Partner is approved pursuant to Section Sections 13.1 or 14.2 or the proviso to Section 14.1, such successor shall purchase the GP Units of the former General Partner and the Partnership Interests evidenced by the Incentive Compensation Agreement (whether such Partnership Interests are held by the General Partner or an Affiliate of the General Partner) for an amount in cash equal to the fair market value thereof, determined as of the date the successor General Partner is admitted pursuant to Section 12.
Appears in 2 contracts
Samples: Credit Agreement (Buckeye Partners L P), Limited Partnership Agreement (Buckeye Partners L P)
