Protected holder means the holder of an instrument which was complete when he took it or which was incomplete within the meaning of paragraph`1 of article`12 and was completed in accordance with authority given, provided that when he became a holder:
Protected holder means a holder of Series B Units (or of Common Units received upon conversion of Series B Units pursuant to Section 5.9(b)(vii), but not including any holder of MLP Common Units received upon a conversion of Series B Units) (a) who received Series B Units pursuant to the terms of the Sigma Merger Agreement or (b) whose tax basis in such holder’s Series B Units or Common Units is determined in whole or in part by reference to the tax basis of a Protected Holder described in clause (a) herein. Notwithstanding the foregoing, a Protected Holder shall not include a holder of Series B Units (or of Common Units) if such holder retains, either directly, pursuant to clause (a) herein, or indirectly, pursuant to clause (b) herein, less than 40% of the excess of the Series B Units received by such holder pursuant to the terms of the Sigma Merger Agreement over any of such holder’s Series B Units redeemed pursuant to Section 5.9(b)(viii) (treating as Series B Units, for this purpose, Series B Units for which Common Units were received upon conversion of such Series B Units pursuant to Section 5.9(b)(vii)).
More Definitions of Protected holder
Protected holder means a holder who meets the requirements of article`29; 44
Protected holder means a holder who meets the requirements of article29
Protected holder means a person that satisfies the requirements of Article 16(1).