Common use of Optionholders Clause in Contracts

Optionholders. Except as set forth in this Agreement, a Person that holds derivative rights (including options, warrants and similar rights) that are exercisable, exchangeable or convertible into Equity Securities has no rights in respect of such Units until such Person is actually issued such Units upon exercise, exchange or conversion of the underlying right and, if such Person is not already a Unitholder, is admitted as a Unitholder pursuant to Section 11.2.