Distribution Rights definition
Examples of Distribution Rights in a sentence
All such Common Units, Series B Preferred Units and Incentive Distribution Rights and the limited partner interests represented thereby have been duly authorized and validly issued in accordance with the Partnership Agreement and are fully paid (to the extent required under the Partnership Agreement) and nonassessable (except as such nonassessability may be affected by Sections 17-303, 17-607 and 17-804 of the Delaware LP Act).
As of the date hereof, the issued and outstanding limited partner interests of the Partnership consist of 33,995,563 common units representing limited partner interests (“Common Units”), 3,000,000 9.50% Series B Fixed Rate Cumulative Redeemable Perpetual Preferred Units representing limited partner interests (“Series B Preferred Units”) and the Incentive Distribution Rights (as such term is defined in the Partnership Agreement).
The Distribution Rights are limited to, and may be exercised by Distributor and/or its permitted Subdistributor, solely for the purpose of promoting, marketing, importing, offering for sale, selling and/or distributing the Products for the Permitted Use, through the Channels, in the Field, in the Territory.