MLP Subordinated Units definition

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

MLP Subordinated Units means units of a limited partnership or a limited liability company that has elected to be a partnership that are expressly subordinated by the terms of the limited partnership agreement pursuant to which such units were issued.

MLP Subordinated Units means the MLP Series A Subordinated Units and the MLP Series B Subordinated Units, collectively.

Examples of MLP Subordinated Units in a sentence

• Each of the items described in Section 5.4 to be submitted to the holders of MLP Common Units and MLP Subordinated Units at the MLP Unitholders’ Meeting shall have been approved by the affirmative vote or consent of the holders of at least a Unit Majority (as such term is defined in the MLP Partnership Agreement) (the “MLP Unitholder Approval”).

• Seller owns beneficially and of record 2,616,250 MLP Common Units and 7,848,750 MLP Subordinated Units.

• At the close of business on March 15, 2016, (A) 53,834,784 MLP Common Units were issued and outstanding, (B) 46,811,398 MLP Subordinated Units were issued and outstanding and (C) 8,682 MLP (non-employee director) phantom units under the MLP Long-Term Incentive Plan were issued and outstanding.

• Every guardian, within three months after his appointment, shall exhibit to the clerk an account, upon oath, of the estate of his ward; but the clerk may extend such time not exceeding six months, for good cause shown.

• The MLP Board at a meeting duly called and held, has by unanimous vote of those directors present, (i) determined that this Agreement and the transactions contemplated hereby are advisable, fair to and in the best interests of MLP and the holders of MLP Common Units and MLP Subordinated Units, (ii) approved this Agreement and (iii) recommended that the Merger and this Agreement be approved and adopted by the holders of MLP Common Units and MLP Subordinated Units.

• Subject to Section 5.6, the MLP Parties shall, in accordance with applicable Law and the MLP Partnership Agreement, cause a meeting of the holders of MLP Common Units and MLP Subordinated Units (the “MLP Unitholders’ Meeting”) to be duly called and held as soon as practicable after the Registration Statement is declared effective under the Securities Act to consider and vote upon the adoption and approval of this Agreement and the Merger.

• This Agreement and the Merger Transactions shall have been approved by the affirmative vote of holders, as of the record date for the MLP Meeting, of a majority of the outstanding MLP Common Units, voting as a class, and of a majority of the outstanding MLP Subordinated Units, voting as a class (collectively, the “MLP Unitholder Approval”).

• At the close of business on March 15, 2016, the Company or a Subsidiary of the Company owns zero MLP Common Units, one hundred percent (100%) of the MLP Subordinated Units and one hundred percent (100%) of the MLP Incentive Distribution Rights and general partnership interest of CPPL.

More Definitions of MLP Subordinated Units

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

MLP Subordinated Units means a limited partner interest in UST MLP ---------------------- represented by a Subordinated Unit as defined in the UST MLP Partnership Agreement.

MLP Subordinated Units means the MLP Series A Subordinated Units and the MLP Series B Subordinated Units, collectively. “MLP Unaffiliated Unitholders” shall mean the MLP Unitholders excluding the Buyer Parties and their Affiliates.