SEVENTH AMENDED AND RESTATED LIMITED PARTNERSHIP AGREEMENT OF GRAHAM PACKAGING HOLDINGS COMPANY
EXHIBIT 3.239
SEVENTH AMENDED AND RESTATED LIMITED PARTNERSHIP AGREEMENT
OF
XXXXXX PACKAGING HOLDINGS COMPANY
This Limited Partnership Agreement of Xxxxxx Packaging Holdings Company, is entered into
by and between BCP/Xxxxxx Holdings L.L.C.., as general partner (the “General Partner”), and
Xxxxxx Packaging Company Inc. (“GPCI”) and GPC Holdings LLC (“Newco Holdings”) as
limited partners (each, a “Limited Partner” and together with the General Partner, the
“Partners”).
The General Partner and the Limited Partners hereby agree that the Sixth Amended and Restated
Agreement of Limited Partnership of Xxxxxx Packaging Holdings Company dated as of February 4, 2010
is hereby amended and restated in its entirety by the Seventh Amended and Restated Partnership
Agreement and, as so amended, and restated hereby, shall read in its entirety as follows:
1. Name. The name of the limited partnership shall be Xxxxxx Packaging Holdings
Company (the “Partnership”).
2. Character of Business. The Partnership was formed for the object and purpose of,
and the nature of the business to be conducted by the Partnership is, engaging in any lawful act or
activity for which limited partnerships may be formed under the Pennsylvania Revised Uniform
Limited Partnership Act (15 Pa. Cons. Stat. ch. 85) (the “Act”), as amended from time to
time and any successor to such Act. The business of the Partnership shall be conducted in
accordance with, and any action required or permitted to be taken by the General Partner or a
Limited Partner shall be taken in compliance with, all applicable laws, rules and regulations.
Such business may be conducted directly by the Partnership or through such subsidiary corporations,
partnerships or other entities as the General Partner deems advisable.
3. Principal Offices. The location of the principal offices of the Partnership shall
be at 0000 Xxxxxxxx Xxxxxx Xxxx, Xxxx, Xxxxxxxxxxxx, 00000, or at such other location as may be
selected from time to time by the General Partner. The Partnership may maintain such other offices
at such other places as the General Partner deems advisable.
4. Fiscal Year. The fiscal year of the Partnership shall be the calendar year.
5. Partners. The names and the business, residence or mailing addresses of the
General Partner and the Limited Partners are as follows:
General Partner
BCP/ Xxxxxx Holdings, L.L.C.
0000 Xxxxxxxx Xxxxxx Xxxx
Xxxx, Xxxxxxxxxxxx 00000
0000 Xxxxxxxx Xxxxxx Xxxx
Xxxx, Xxxxxxxxxxxx 00000
Limited Partners
Xxxxxx Packaging Company Inc.
0000 Xxxxxxxx Xxxxxx Xxxx
Xxxx, Xxxxxxxxxxxx 00000
0000 Xxxxxxxx Xxxxxx Xxxx
Xxxx, Xxxxxxxxxxxx 00000
GPC Holdings LLC
0000 Xxxxxxxx Xxxxxx Xxxx
Xxxx, Xxxxxxxxxxxx 00000
0000 Xxxxxxxx Xxxxxx Xxxx
Xxxx, Xxxxxxxxxxxx 00000
6. Powers. The powers of the General Partner include all powers, statutory and
otherwise, possessed by general partners under the laws of the State of Pennsylvania. The General
Partner, acting on behalf of the Partnership, shall be empowered to do or cause to be done any and
all acts deemed by the General Partner, in its sole judgment, to be necessary or advisable in
furtherance of the purposes of the Partnership. Notwithstanding any other provisions of this
Agreement, the General Partner is authorized to execute and deliver any document on behalf of the
Partnership without any vote or consent of any other partner.
7. Dissolution. The Partnership shall dissolve, and its affairs shall be wound up
upon the first to occur of the following: (a) the sale or other disposition of all or
substantially all of the Partnership’s assets (b) the withdrawal, resignation, filing of a
certificate of dissolution or revocation of the charter or bankruptcy of a General Partner or the
occurrence of any other event which causes the General Partner to cease to be a general partner of
the Partnership under the Act, unless the Limited Partners elect to continue the Partnership
business and select a successor general partner in accordance with the provisions of the Act (c)
such date as the Partners shall unanimously elect or (e) at any time there are no limited partners
of the Partnership, unless the business of the Partnership is continued in accordance with the Act.
8. Units. Historically for convenience purposes the Partnership has tracked the
percentage interest ownership of each of the Partners herein through calculating the number of
nominal units in the Partnership held by each Partner (“Units”). Immediately after the
Merger of GPC Merger LLC with and into the Partnership on the date hereof (the “Merger”),
the General Partner shall own the same number of Units that it owned immediately prior to the Merger,
GPCI shall own the same number of Units that it owned immediately prior to the Merger, and Newco
Holdings shall own a number of Units equal
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to the aggregate number of Units owned by all partners (other than GPCI and the General Partner)
immediately prior to the Merger.
9. Additional Contributions. No Partner is required to make any additional capital
contribution to the Partnership.
10. Allocations of Profit and Losses. The Partnership’s profits and losses shall be
allocated in proportion to the percentage interest (obtained by dividing the number of Units then
owned by a partner by the number of Units then owned by all Partners) (“Percentage
Interest”).
11. Distributions. At the time or times determined by the General Partner, the
General Partner shall cause the Partnership to distribute any cash held by it which is not
reasonably necessary for the operation of the Partnership. Cash available for distribution shall
be distributed to the partners of the Partnership in the same proportion as its Percentage
Interest. Notwithstanding any provision to the contrary contained in this Agreement, the
Partnership shall not make a distribution to a partner of the Partnership on account of such
partner’s interest in the Partnership if such distribution would violate the Act or other
applicable law.
12. Transfer of Interests. Any Partner may transfer all or any part of his, her or
its interest in the Partnership only with the consent of the General Partner.
13. Withdrawal. No partner may withdraw from the Partnership except pursuant to an
amendment to this Agreement.
14. Amendments; Additional Partners.
(a) Without the approval of the Limited Partners or any other partner, the General Partner may
amend, and may amend and restate, this Agreement.
(b) Without the approval of the Limited Partners, the General Partner may admit additional
limited partners to the Partnership. After the admission of any additional limited partners
pursuant to this Section 13, the business of the Partnership shall continue as a limited
partnership under the Act. The admission of additional limited partners to the Partnership
pursuant to this Section 13 may be accomplished by the amendment, or the amendment and restatement,
of this Agreement, without the consent of the Limited Partners being required.
15. Governing Law. THIS AGREEMENT SHALL BE INTERPRETED AND ENFORCED IN ACCORDANCE
WITH AND GOVERNED BY THE LAWS OF THE COMMONWEALTH OF PENNSYLVANIA APPLICABLE TO AGREEMENTS MADE AND TO BE PERFORMED WHOLLY
WITHIN THAT JURISDICTION.
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16. Waiver of Partition. Each of the Partners hereby irrevocably waives any and all
rights that it may have to maintain any action for partition of any of the Partnership’s property.
17. Liability of the Limited Partners. The Limited Partners shall not have any
liability for the obligations or liabilities of the Partnership except to the extent required by
the Act.
18. Counterparts. This Agreement may be executed in counterparts, each of which shall
be deemed an original, but all of which shall constitute one and the same instrument.
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IN WITNESS WHEREOF, the undersigned, intending to be bound hereby, have duly executed this
Limited Partnership Agreement as of the 8th day of September, 2011.
GENERAL PARTNER: BCP/XXXXXX HOLDINGS L.L.C. |
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By: | /s/ Xxxxx X. Xxxxxxx | |||
Name: | Xxxxx X. Xxxxxxx | |||
Title: | Assistant Treasurer | |||
LIMITED PARTNERS: XXXXXX PACKAGING COMPANY INC. |
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By: | /s/ Xxxxx X. Xxxxxxx | |||
Name: | Xxxxx X. Xxxxxxx | |||
Title: | Chief Financial Officer | |||
GPC HOLDINGS LLC |
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By: | /s/ Xxxxx X. Xxxxxxx | |||
Name: | Xxxxx X. Xxxxxxx | |||
Title: | Chief Financial Officer | |||
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