MLP Common Units definition

MLP Common Units means the Common Units (as defined in the MLP Partnership Agreement) of the MLP to be issued pursuant to the MLP Partnership Agreement.

MLP Common Units means the common units representing limited partner interests in the MLP, having the rights and obligations specified in the MLP Partnership Agreement.

MLP Common Units means the common units representing limited partner interests of MLP having the rights and obligations specified with respect to “Common Units” as set forth in the MLP Partnership Agreement.

Examples of MLP Common Units in a sentence

• Except as described in the MLP Partnership Agreement, there are no preemptive or other rights to subscribe for or to purchase, nor any restriction upon the voting or transfer of any interest in the MLP (provided that the foregoing shall not apply to any such rights to purchase or restriction on voting or transfer that any holder of MLP Common Units may have imposed upon such common units).

• The voting and other limitations described in the definition of “Outstanding” in the MLP Partnership Agreement shall not apply to ETE and its Affiliates as a result of the MLP Common Units acquired by ETP and its Affiliates pursuant to this Agreement, the Contribution Agreement and the Restructuring Agreement.

• All of the issued and outstanding MLP Common Units, including the Subject Common Units, are listed on the NYSE.

• The MLP has no partnership or other equity interests outstanding as of the date of this Agreement other than (i) 62,194,405 MLP Common Units, (ii) the GP Interests, (iii) the IDRs and (iv) 1,090,931 Phantom Units.

• Notwithstanding anything to the contrary in this Agreement, at the Effective Time, all MLP Common Units owned by MLP or its Subsidiaries or by PNR or its Subsidiaries other than PNR USA shall automatically be cancelled and no consideration received therefor.

More Definitions of MLP Common Units

MLP Common Units shall have the meaning specified in the recitals.

MLP Common Units has the meaning assigned to the term “Common Unit” in the MLP Agreement.

MLP Common Units has the meaning given to “Common Units” in the MLP Partnership Agreement. “MLP Partnership Agreement” means the Seventh Amended and Restated Agreement of Limited Partnership of Plains All American Pipeline, L.P., dated as of October 10, 2017, as such may be further amended, modified, supplemented or restated from time to time in accordance with the terms thereof. “MLP Redemption Units” means MLP Common Units received by a Member upon an AAP Redemption. “National Securities Exchange” means an exchange registered with the Commission under Section 6(a) of the Securities Exchange Act or any successor to such statute. “Non-Management Directors” means the Independent Directors and any Director who is not currently serving as an Officer of the Company or of Plains All American GP LLC. “Notice” means a writing, containing the information required by this Agreement to be communicated to a party, and shall be deemed to have been received (a) when personally delivered or sent by facsimile, (b) one day following delivery by overnight delivery courier, with all delivery charges pre-paid, or (c) on the third Business Day following the date on which it was sent by United States mail, postage prepaid, to such party at the address or fax number, as the case may be, of such party as shown on the records of the Company. “Officers” has the meaning set forth in Section 6.9. “Original Agreement” means the Amended and Restated Limited Liability Company Agreement of the Company, dated as of October 21, 2013. “Original Members” means each of the owners of limited liability company interests in the Company as of the date of the Original Agreement as set forth in Schedule 1 attached hereto.

MLP Common Units means, as of any date of determination, all of the Common Units (as defined in the MLP Partnership Agreement) of the MLP.

MLP Common Units. “common units” of SRLP, as defined in the SRLP Partnership Agreement.

MLP Common Units shall have the meaning set forth in the Merger Agreement.

MLP Common Units has the meaning given to it in Section 2.02.