Establishment of Class B Units. (a) The General Partner hereby designates and creates a series of Limited Partner Units to be designated as “Class B Units” and consisting, as of the date hereof, of a total of 5,697,759 Class B Units, having the terms and conditions set forth herein. (b) The holders of the Class B Units shall have rights upon dissolution and liquidation of the Partnership, including the right to share in any liquidating distributions pursuant to Section 14.3, in accordance with Article XIV of the Partnership Agreement.
Appears in 3 contracts
Sources: Amended and Restated Agreement of Limited Partnership, Amendment No. 1 to Amended and Restated Agreement of Limited Partnership (Buckeye Partners, L.P.), Amended and Restated Agreement of Limited Partnership
Establishment of Class B Units. (a) The General Partner hereby designates and creates a series of Limited Partner Units to be designated as “Class B Units” and consisting, as of the date hereof, consisting of a total of 5,697,759 [__________] Class B Units, having the terms and conditions set forth herein.
(b) The holders of the Class B Units shall have rights upon dissolution and liquidation of the Partnership, including the right to share in any liquidating distributions pursuant to Section 14.3, in accordance with Article XIV of the Partnership Agreement.
Appears in 3 contracts
Sources: Class B Unit Purchase Agreement (Buckeye Partners, L.P.), Lp Unit Purchase Agreement (Buckeye Partners, L.P.), Unit Purchase Agreement (Buckeye Partners, L.P.)
Establishment of Class B Units. (a) The General Partner hereby designates and creates a series of Limited Partner Units to be designated as “Class B Units,” and consisting, as of the date hereof, of a total of 5,697,759 Class B Units, having the terms and conditions set forth herein.
(b) The holders of the Class B Units shall have rights upon dissolution and liquidation of the Partnership, including the right to share in any liquidating distributions pursuant to Section 14.312.4, in accordance with Article XIV of the Partnership AgreementXII.
Appears in 2 contracts
Sources: Limited Partnership Agreement (Penn Virginia Resource Partners L P), Class B Unit Purchase Agreement (Penn Virginia Resource Partners L P)