Common use of Valid Issuance of Units Clause in Contracts

Valid Issuance of Units. As of the time of purchase or any additional time of purchase, the Firm Units and the Additional Units, if any, and the limited partner interests represented thereby, will be duly authorized in accordance with the Partnership Agreement and, when issued and delivered to the Underwriters against payment therefor in accordance with the terms hereof, will be validly issued, fully paid (to the extent required under the Partnership Agreement) and nonassessable (except as such nonassessability may be affected by (i) matters described in the Registration Statement, the Pricing Disclosure Package and the Prospectus under the captions “Risk Factors—Risks Inherent in an Investment in Us—Unitholder liability may not be limited if a court finds that unitholder action constitutes control of our business,” “Risk Factors—Risks Inherent in an Investment in Us—Unitholders may have liability to repay distributions” and “Our Partnership Agreement—Limited Liability” and (ii) Sections 17-303, 17-607 and 17-804 of the Delaware LP Act); and other than the LP Interest and the GP Interest, the Units will be the only partner interests of the Partnership issued and outstanding as of the time of purchase and any additional time of purchase, as applicable; the Units, when issued and delivered against payment therefor as provided herein, will be free of any restriction upon the voting or transfer thereof pursuant to the Partnership’s formation and governing documents or any agreement or other instrument to which the Partnership or any of the Partnership Entities or their affiliates is a party or by which any of them or any of their respective properties may be bound or affected.

Appears in 2 contracts

Samples: Underwriting Agreement (Encore Energy Partners LP), Underwriting Agreement (Encore Energy Partners LP)

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Valid Issuance of Units. As of the time of purchase or any additional time of purchase, the Firm Units and the Additional Units, if any, and the limited partner interests represented thereby, will be duly authorized in accordance with the Partnership Agreement and, when issued and delivered to the Underwriters against payment therefor in accordance with the terms hereof, will be validly issued, fully paid (to the extent required under the Partnership Agreement) and nonassessable (except as such nonassessability may be affected by (i) matters described in the Registration Statement, the Pricing Disclosure Package any Preliminary Prospectus and the Prospectus under the captions “Risk Factors—Risks Inherent in an Investment in Us—Unitholder Your liability may not be limited if a court finds that unitholder action constitutes control of our business,” “Risk Factors—Risks Inherent in an Investment in Us—Unitholders may have liability to repay distributions” and “Our The Partnership Agreement—Limited Liability” (and any similar information, if any, contained in any Permitted Free Writing Prospectus) and (ii) Sections 17-303, 303 and 17-607 and 17-804 of the Delaware LP Act); and other than the LP Interest Interest, the Encore Operating LP Interest, the MIUs and the GP Interest, the Units will be the only partner interests of the Partnership issued and outstanding as of the time of purchase and any additional time of purchase, as applicable; the Units, when issued and delivered against payment therefor as provided herein, will be free of any restriction upon the voting or transfer thereof pursuant to the Partnership’s formation and governing documents or any agreement or other instrument to which the Partnership or any of the Partnership Entities or their affiliates is a party or by which any of them or any of their respective properties may be bound or affected.

Appears in 2 contracts

Samples: Underwriting Agreement (Encore Energy Partners LP), Underwriting Agreement (Encore Energy Partners LP)

Valid Issuance of Units. As of the time of purchase or any additional time of purchase, the Firm Units and the Additional Units, if any, and the limited partner interests represented thereby, will be duly authorized in accordance with the Partnership Agreement and, when issued issued, and delivered to the Underwriters against payment therefor in accordance with the terms hereof, will be validly issued, fully paid (to the extent required under the Partnership Agreement) and nonassessable (except as such nonassessability may be affected by (i) matters described in the Registration Statement, the Pricing Disclosure Package Preliminary Prospectus and the Prospectus under the captions caption “Risk Factors—Risks Inherent in an Investment in Us—Unitholder Your liability may not be limited if a court finds that unitholder action constitutes control of our business,and Risk Factors—Risks Inherent in an Investment in Us—Unitholders may have liability to repay distributionsdistributions that were wrongfully distributed to them(and “Our Partnership Agreement—Limited Liability” any similar information, if any, contained in any Permitted Free Writing Prospectus) and (ii) Sections 17-303, 303 and 17-607 and 17-804 of the Delaware LP Act); and other than the LP Interest and the GP InterestSponsor Units, the Units will be the only limited partner interests of the Partnership issued and outstanding as of the time of purchase and any additional time of purchase, as applicable; the Units, when issued and delivered against payment therefor as provided herein, will be free of any restriction upon the voting or transfer thereof pursuant to the Partnership’s formation and governing documents or any agreement or other instrument to which the Partnership or any of the Partnership Entities or their affiliates is a party or by which any of them or any of their respective properties may be bound or affected.

Appears in 2 contracts

Samples: Underwriting Agreement (Quicksilver Gas Services LP), Underwriting Agreement (Quicksilver Gas Services LP)

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Valid Issuance of Units. As of the time of purchase or any additional time of purchase, the Firm Units and the Additional Units, if anyas the case may be, and the limited partner interests represented thereby, will be duly authorized in accordance with the Partnership Agreement and, when issued issued, and delivered to the Underwriters against payment therefor in accordance with the terms hereof, will be validly issued, fully paid (to the extent required under the Partnership Agreement) and nonassessable (except as such nonassessability may be affected by (i) matters described in the Registration Statement, the Pricing Disclosure Package most recent Preliminary Prospectus and the Prospectus under the captions “caption "Risk Factors—Risks Inherent in an Investment in Us—Unitholder Your liability may not be limited if a court finds that unitholder action constitutes control of our business,” “Risk Factors" and "—Risks Inherent in an Investment in Us—Unitholders may have liability to repay distributions” distributions that were wrongfully distributed to them" (and “Our Partnership Agreement—Limited Liability” any similar information, if any, contained in any Permitted Free Writing Prospectus) and (ii) Sections 17-303, 303 and 17-607 and 17-804 of the Delaware LP Act); and other than the LP Interest Sponsor Units and the GP InterestIncentive Distribution Rights, the Units will be the only limited partner interests of the Partnership issued and outstanding as of the time of purchase and any additional time of purchase, as applicable; except as described in the Disclosure Package, the Units, when issued and delivered against payment therefor as provided herein, will be free of any restriction upon the voting or transfer thereof pursuant to the Partnership’s formation and governing documents or any agreement or other instrument to which the Partnership or any of the Partnership Entities or their affiliates is a party or by which any of them or any of their respective properties may be bound or affectedthereof.

Appears in 1 contract

Samples: Underwriting Agreement (OGE Enogex Partners L.P.)

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