Transfer of General Partner’s Partnership Interest. If a General Partner transfers its interest as a general partner of the MLP to any Person in accordance with the provisions of the MLP Agreement, such General Partner shall contemporaneously therewith transfer all, but not less than all, of its General Partner Interest herein to such Person, and the Limited Partners and Assignees, if any, hereby expressly consent to such transfer. Except as set forth in the immediately preceding sentence and in Section 5.2, a General Partner may not transfer all or any part of its Partnership Interest as a General Partner.
Appears in 5 contracts
Samples: Limited Partnership Agreement (Alliance Resource Partners Lp), Limited Partnership Agreement (Shamrock Logistics Lp), Limited Partnership Agreement (Valero L P)
Transfer of General Partner’s Partnership Interest. If a the General Partner transfers its interest as a the general partner of the MLP to any Person in accordance with the provisions of the MLP Agreement, such the General Partner shall contemporaneously therewith transfer all, but not less than all, of its General Partner Interest herein to such Person, and the Limited Partners and Assignees, if any, hereby expressly consent to such transfer. Except as set forth in the immediately preceding sentence and in Section 5.2, a General Partner may not transfer all or any part of its Partnership Interest as a the General Partner.
Appears in 4 contracts
Samples: Limited Partnership Agreement (Tc Pipelines Lp), Agreement of Limited Partnership (Plains All American Pipeline Lp), Agreement of Limited Partnership (Plains All American Pipeline Lp)
Transfer of General Partner’s Partnership Interest. If a the General Partner transfers its interest as a the general partner of the MLP to any Person in accordance with the provisions of the MLP Agreement, such the General Partner shall contemporaneously therewith transfer all, but not less than all, of its General Partner Interest herein to such Person, and the Limited Partners and Assignees, if any, hereby expressly consent to such transfer. Except as set forth in the immediately preceding sentence and in Section 5.25.1, a General Partner may not transfer all or any part of its Partnership Interest as a the General Partner.
Appears in 1 contract
Samples: Limited Partnership Agreement (Plains All American Pipeline Lp)
Transfer of General Partner’s Partnership Interest. If a the General Partner transfers its interest as a the general partner of the MLP to any Person in accordance with the provisions of the MLP Agreement, such the General Partner shall contemporaneously therewith transfer all, but not less than all, of its General Partner Interest herein to such Person, and the Limited Partners and Assignees, if any, hereby expressly consent to such transfer. Except as set forth in the immediately preceding sentence and in Section 5.2sentence, a General Partner may not transfer all or any part of its Partnership Interest as a the General Partner.
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