Common use of No Proxies for or Encumbrances on Management Limited Partner Units Clause in Contracts

No Proxies for or Encumbrances on Management Limited Partner Units. Except pursuant to the terms of this Agreement, during the Term and prior to an Initial Public Offering, no Management Limited Partner shall, without the prior written consent of Apollo Management VI, L.P., directly or indirectly, (i) grant any proxies (other than pursuant to Section 12.3.1 above) or enter into any voting trust or other agreement or arrangement with respect to the voting of any Units held by such Management Limited Partner or (ii) except as otherwise permitted hereby, Transfer any such Management Limited Partner’s Units.

Appears in 3 contracts

Sources: Limited Partnership Agreement (Verso Paper Corp.), Limited Partnership Agreement (Verso Sartell LLC), Limited Partnership Agreement (Verso Paper Holdings LLC)