Subordinated GP Units definition

Subordinated GP Units means the Subordinated GP Units representing a General Partner Interest held by the General Partner and Genesis MLP immediately prior to the closing of the Restructuring.
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Subordinated GP Units means units ▇▇▇▇▇senting subordinated general partner interests in Genesis OLP. "Subordinated LP Units" means units representing subordinated limited partner interests in Genesis OLP.
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Examples of Subordinated GP Units in a sentence

  • All of the Common GP Units and Subordinated GP Units shall convert into Common LP Units and Subordinated LP Units, respectively, on a one-for-one basis if the Special General Partner ceases to own at least 15% of all Outstanding Units.

  • If the Special General Partner desires to transfer Special GP Units, Common GP Units or Subordinated GP Units to Persons who are not Affiliates of the Special General Partner, the Special General Partner shall give notice to the Managing General Partner prior to effecting any such transfer.

  • The transfer of such converted Special GP Units, Common GP Units and Subordinated GP Units shall be governed by the provisions of this Agreement relating to transfer of Limited Partner Interests as if such Special GP Units, Common GP Units and Subordinated GP Units were Special LP Units, Common LP Units or Subordinated LP Units, respectively.

  • At the closing of the Restructuring, Genesis MLP's Subordinated GP Units will be converted into a 99.99% Limited Partner Interest and the General Partner's Subordinated GP Units will be converted into a .01% General Partner Interest.

  • Partners holding Certificates evidencing Subordinated GP Units may exchange such Certificates for Certificates evidencing Common GP Units and Partners holding Certificates evidencing Subordinated LP Units may exchange such Certificates for Certificates evidencing Common LP Units, in each case on or after the date on which such Subordinated Units are converted into Common Units pursuant to Section 5.8.

  • At the closing of the Restructuring, Genesis MLP's Subordinated GP Units were converted into a 99.99% Limited Partner Interest and the General Partner's Subordinated GP Units were converted into a .01% General Partner Interest.