Unanimous Vote of Directors. The following actions by the Company, or by the Company in its capacity as general partner of the Partnership, shall require approval by a Unanimous Vote, except as otherwise provided in this Agreement: 1. Any action or election that would cause the Company to be taxable as a corporation for federal tax purposes; and 2. Any transfer of all or part of the Company’s general partner interest in the Partnership.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Energy Transfer Equity, L.P.), Limited Liability Company Agreement (Energy Transfer Partners, L.P.)
Unanimous Vote of Directors. The following actions Any action by the Company, or by the Company in its capacity as general partner of the PartnershipMLP, that would cause the Company to be taxable as a corporation for federal tax purposes, shall require approval by a Unanimous Vote, except as otherwise provided in this Agreement:
1. Any action or election that would cause the Company to be taxable as a corporation for federal tax purposes; and
2. Any transfer of all or part of the Company’s general partner interest in the Partnership.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Encore Energy Partners LP)
Unanimous Vote of Directors. The following actions action by the Company, or by the Company in its capacity as general partner of the Partnership, shall require approval by a Unanimous Vote, except as otherwise provided in this Agreement:
1. Any action or election that would cause the Company to be taxable as a corporation for federal tax purposes; and
2. Any transfer of all or part of the Company’s general partner interest in the Partnership.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Energy Transfer Partners, L.P.)
