GP LLC definition
Examples of GP LLC in a sentence
Both PAGP and GP LLC have elected to be treated as corporations for United States federal income tax purposes.
Plains GP Holdings, L.P. (“PAGP”), a Delaware limited partnership that completed its initial public offering in October 2013, is the sole and managing member of GP LLC, and, at December 31, 2017, owned, directly and indirectly, an approximate 55% limited partner interest in AAP.
Plains All American GP LLC (“GP LLC”), a Delaware limited liability company, is AAP’s general partner.
As the sole member of GP LLC, PAGP has responsibility for conducting our business and managing our operations; however, the board of directors of PAGP GP (the “PAGP GP Board”) has ultimate responsibility for managing the business and affairs of PAGP, AAP and us.
Our non-economic general partner interest is held by PAA GP LLC (“PAA GP”), a Delaware limited liability company, whose sole member is Plains AAP, L.P. (“AAP”), a Delaware limited partnership.