Termination Upon Removal of General Partner. The agreement contained in this Article II shall terminate if the General Partner is removed as general partner of the Partnership pursuant to the Partnership Agreement, effective upon the date of such removal. However, the value of the right to receive incentive compensation as provided in this Article II shall be included in determining the fair market value of the GP Units pursuant to Section 13.2 of the Partnership Agreement.
Appears in 4 contracts
Samples: Incentive Compensation Agreement (Buckeye Partners L P), Incentive Compensation Agreement (Buckeye Partners L P), Incentive Compensation Agreement (Buckeye Partners L P)
Termination Upon Removal of General Partner. The agreement contained in this Article II shall terminate if the General Partner is removed as general partner of the Partnership pursuant to the Partnership Agreement, effective upon the date of such removal. However, the value of the right to receive incentive compensation distributions as provided in this Article II shall be included in determining the fair market value of the GP Units and other Partnership Interests pursuant to Section 13.2 of the Partnership Agreement.
Appears in 4 contracts
Samples: Incentive Compensation Agreement (Buckeye Partners L P), Incentive Compensation Agreement (Buckeye GP Holdings L.P.), Credit Agreement (Buckeye Partners L P)
