MLP Common Units definition

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.

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 shall have the meaning specified in the recitals.

Examples of MLP Common Units in a sentence

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

• For the avoidance of doubt, if Seller elects to participate in the MLP DRIP (or similar plan), then Seller shall not be entitled to receive the gross amount of cash distributions paid or payable with respect to the Seller MLP Interests and shall instead be entitled to receive any MLP Common Units issued in connection with the distribution reinvestment.

• To the extent that amounts are so deducted and withheld by the Exchange Agent, such amounts shall be treated for all purposes of this Agreement as having been paid to the holder of MLP Common Units in respect of whom such deduction and withholding was made by the Exchange Agent.

• 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.

• The fair value of any property contributed to the Partnership in respect of the issuance of any Class A Units shall be as determined by the Board in good faith; provided, however, that in the event that the Partnership shall issue any additional Class A Units in respect of the contribution to the Partnership of any MLP Common Units, the value of such MLP Common Units shall be deemed to equal the closing price of such MLP Common Units on the date of such contribution.

• The Crosstex MLP Common Units issuable upon the conversion of the Crosstex MLP Class B Units comprising the Equity Consideration shall have been approved for listing on the Agreed Securities Exchange, subject to official notice of issuance.

• For the avoidance of doubt, no Redeeming Partner shall be entitled to receive, with respect to the same fiscal quarter, distributions or dividends both on Class A Units redeemed by such Redeeming Partner and on MLP Common Units received by such Redeeming Partner in such Redemption.

• The Company shall take any other reasonable action (other than qualifying to do business in any jurisdiction in which it is not now so qualified) required to be taken under the Securities Act, the Exchange Act, any applicable state securities or “blue sky” laws and the rules and regulations thereunder in connection with the issuance of the MLP Common Units.

• The Company will not be required to deliver any fractional MLP Common Units pursuant to this Plan.

• The Company shall advise each of the Members, promptly after receipt of notice thereof, of the time of effectiveness of the IPO Registration Statement, the issuance of any stop order relating thereto or the suspension of the qualification of MLP Common Units for offering or sale in any jurisdiction, and the Company shall use all reasonable efforts to have any such stop order or suspension lifted, reversed or otherwise terminated.

More Definitions of MLP Common Units

MLP Common Units means the “Common Units” as defined in the MLP Partnership Agreement. “MLP General Partner” means EnLink Midstream GP, LLC, a Delaware limited liability company.

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 has the meaning given to it in Section 2.02.

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

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