New GP Units definition

New GP Units means a number of General Partner Units having an aggregate value equal to the amount required to maintain the General Partner’s 2% interest in the Partnership as of the Closing.
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New GP Units has the meaning set forth in Section 2.2.
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Examples of New GP Units in a sentence

  • The New Common Units and the New GP Units being issued at Closing will be, when issued in consideration for the contribution by the P66 Parties of the Contributed Interests, duly authorized, validly issued, fully paid and nonassessable (except as such nonassessability may be affected by the Delaware Revised Uniform Limited Partnership Act) and free of any preemptive or similar rights (other than those set forth in the Partnership’s limited partnership agreement).

  • The New Common Units and the New GP Units being issued at Closing will be, when issued in consideration for the contribution by PDI of the Contributed Interests, duly authorized, validly issued, fully paid and nonassessable (except as such nonassessability may be affected by the Delaware Revised Uniform Limited Partnership Act) and free of any preemptive or similar rights (other than those set forth in the Partnership’s limited partnership agreement).

  • The New Common Units and the New GP Units being issued at Closing will be, when issued in consideration for the contribution by Contributing Parties of the Contributed Interests, duly authorized, validly issued, fully paid and nonassessable (except as such nonassessability may be affected by the Delaware Revised Uniform Limited Partnership Act) and free of any preemptive or similar rights (other than those set forth in the Partnership’s limited partnership agreement).

  • The New Common Units and the New GP Units being issued at Closing will be, when issued in consideration for the contribution by P66 Company of the Contributed Assets, duly authorized, validly issued, fully paid and nonassessable (except as such nonassessability may be affected by the Delaware Revised Uniform Limited Partnership Act) and free of any preemptive or similar rights (other than those set forth in the Partnership’s limited partnership agreement).

  • The New Common Units and the New GP Units being issued at Closing will be, when issued in consideration for the contribution by the P66 Parties of the Contributed Interests, duly authorized, validly issued, fully paid and non-assessable (except as such non-assessability may be affected by the Delaware Revised Uniform Limited Partnership Act) and free of any preemptive or similar rights (other than those set forth in the Partnership Agreement).

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  • At the Closing, in consideration for the contribution of the Contributed Interests hereunder, the Partnership shall: (a) issue to P66 Company a number of Common Units equal to 1,726,914 less the number of New GP Units (the “New Common Units”); (b) issue the New GP Units to the General Partner; and (c) pay to P66 Company an amount of cash equal to $880,000,000 (the “Cash Consideration”).

  • The New Common Units and the New GP Units being issued at Closing will be, when issued in consideration for the contribution by P66 Company of the Contributed Interests, duly authorized, validly issued, fully paid and nonassessable (except as such nonassessability may be affected by the Delaware Revised Uniform Limited Partnership Act) and free of any preemptive or similar rights (other than those set forth in the Partnership’s limited partnership agreement).

  • Additionally, in the event of sale of any Equivalent Public Units and in lieu of the steps in Section 1.1(e) relating to the issuance of the New Common Units, EESLP will sell directly to MLP the Assets (less the portion of the Assets transferred relating to the issuance of the New GP Units) in exchange for the assumption of the Assumed Debt and the Offering Proceeds in accordance with the EESLP Xxxx of Sale.

Related to New GP Units

  • LP Units means the non-voting limited partnership units in the capital of BEP, other than the Preferred Units, including any LP Units issued pursuant to the Redemption-Exchange Mechanism.

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • General Partner Units has the meaning assigned to such term in the Partnership Agreement.

  • OP Units means units of limited partnership interest in the Operating Partnership.

  • Class B Units means the Class B Units of the Company.

  • Common Units is defined in the Partnership Agreement.

  • Partnership Units or “Units” has the meaning provided in the Partnership Agreement.

  • LLC Units has the meaning set forth in the LLC Agreement.

  • Class A Units means the Units of partnership interest in the Partnership designated as the “Class A Units” herein and having the rights pertaining thereto as are set forth in this Agreement.

  • Class A LP Units means the Class A limited partnership units of the Partnership.

  • Company Units has the meaning set forth in the Recitals.

  • Membership Units means the limited liability company interests in the Company held by the Members, expressed as a number of units held by each Member and set forth opposite such Member's name on Schedule I attached hereto, as amended, modified or supplemented from time to time.

  • Class C Units The term "Class C Units" shall have the meaning set forth in the preface.

  • Initial Common Units means the Common Units sold in the Initial Offering.

  • Class B Common Units has the meaning set forth in Section 1(a) hereof.

  • Class A Common Units means a Common Unit which is designated as a “Class A Common Unit” and which has the rights, preferences and other privileges designated in Annex A hereto and elsewhere in this Agreement in respect of holders of Common Units.

  • Common Unitholder means a Member who is the registered holder of Common Units.

  • LTIP Units means LTIP Units, as such term is defined in the Partnership Agreement.

  • Partnership Interests shall have the meaning specified in Section 6.3 [Subsidiaries].

  • General Partnership Interest means a Partnership Interest held by the General Partner that is a general partnership interest.

  • Preferred Units means a Partnership Interest, including the Series A Preferred Units, designated as a “Preferred Unit,” which entitles the holder thereof to a preference with respect to distributions, or as to the distribution of assets upon any Liquidation Event, over Common Units.

  • General Partner Interest means a Partnership Interest held by the General Partner, in its capacity as general partner. A General Partner Interest may be expressed as a number of Partnership Units.

  • Class B Membership Interest means a Class B Membership Interest in Holdings.

  • General Partner Unit means a fractional part of the General Partner Interest having the rights and obligations specified with respect to the General Partner Interest. A General Partner Unit is not a Unit.

  • Subordinated Units has the meaning assigned to such term in the Partnership Agreement.

  • Series B Preferred Units shall have the meaning provided in Section 1.