Treatment of Partnership Owned Units and Parent Owned Partnership Interests. Any Units that are owned immediately prior to the Effective Time by the Partnership shall be automatically canceled and shall cease to exist and no consideration shall be delivered in exchange for such canceled Units. All Partnership Interests, including the Partnership GP Interest, that are owned immediately prior to the Effective Time by the Partnership GP, Parent or any of its Subsidiaries shall remain outstanding as Partnership Interests in the Surviving Entity, unaffected by the Merger.
Appears in 3 contracts
Samples: Merger Agreement (Kinder Morgan, Inc.), Merger Agreement (El Paso Pipeline Partners, L.P.), Merger Agreement (Kinder Morgan, Inc.)
Treatment of Partnership Owned Units and Parent Owned Partnership Interests. Any Units that are owned immediately prior to the Effective Time by the Partnership shall be automatically canceled and shall cease to exist and no consideration shall be delivered in exchange for such canceled Units. All Partnership Interests, including the Partnership GP Interest, that are owned immediately prior to the Effective Time by the Partnership GP, the Partnership GP Delegate, Parent or any of its Subsidiaries shall remain outstanding as Partnership Interests in the Surviving Entity, unaffected by the Merger.
Appears in 2 contracts
Samples: Merger Agreement (Kinder Morgan, Inc.), Merger Agreement (Kinder Morgan, Inc.)
