Examples of Operating Partnership Agreements in a sentence
The Person so approved (or its designated Affiliates) shall become the successor general partner or partners of the Operating Partnerships, as provided in the Operating Partnership Agreements.
Any such withdrawal shall also constitute the withdrawal of the OLP GP from the Operating Partnerships, as provided in the Operating Partnership Agreements.
Neither any Group Member, any Limited Partner nor any other Person shall have any rights by virtue of this Agreement, the Operating Partnership Agreements or the partnership relationship established hereby or thereby in any business ventures of any Indemnitee.
Pursuant to Section 6.14 of the Master Partnership Agreement and Section 6.12 of each of the Operating Partnership Agreements, in each case as amended, third parties dealing with the Partnerships shall be entitled to assume that Management has the full power and authority of the General Partner in acting for the Partnerships.
Since each of Management and certain other parties specified in the Partnership Agreements who are associated with Management are Indemnitees, the provisions of Section 6.8 in the Master Partnership Agreement and Section 6.4(b) of each of the Operating Partnership Agreements, in each case as amended, regarding the limitation on an Indemnitee's liability for monetary damages shall be applicable to all such Indemnitees.
These limited partner interests have been duly authorized by the respective agreements of limited partnership of the Operating Partnerships (the "Operating Partnership Agreements"), have been validly issued in accordance with the respective Operating Partnership Agreements, are fully paid and non-assessable, except to the extent such non-assessability may be affected by Section 17-607 of the Delaware Act, and are the only outstanding limited partner interests of all of the Operating Partnerships.
The Management Subsidiary owns of record and beneficially a 1% general partnership interest in each of the Operating Partnerships in accordance with the Operating Partnership Agreements related thereto and a .99% limited partnership interest in Buckeye Pipe Line Company of Michigan, L.P. pursuant to its Operating Partnership Agreement.
Any such withdrawal shall also constitute the withdrawal of the Manager from the Operating Partnerships, as provided in the Operating Partnership Agreements.
If the General Partner is removed by the Limited Partners under circumstances where Causes exists or if the General Partner withdraws under circumstances where such 57 withdrawal violates this Agreement or the Operating Partnership Agreements, its successor shall have the option described in the immediately preceding sentence, and the Departing Partner shall not have such option.
Complete and correct copies of (i) the certificate of limited partnership, and all amendments thereto, for each of the Partnership and the Operating Partnerships and (ii) the Partnership Agreement and Operating Partnership Agreements, and all amendments thereto, have been delivered to the Underwriters, and no changes therein will be made subsequent to the date hereof and prior to the time of purchase or the additional time of purchase, as the case may be.