Redemption of the Redeemed Units. Upon the terms and subject to the satisfaction or due waiver of the conditions contained in this Agreement, at the Closing ETE shall surrender to ETP for redemption, and ETP shall accept for redemption from ETE, 12,273,830 ETP Common Units. The ETP Common Units to be surrendered by ETE to ETP for redemption as contemplated herein are referred to in this Agreement as the “Redeemed Units.”
Appears in 2 contracts
Sources: Redemption and Exchange Agreement (Energy Transfer Partners, L.P.), Redemption and Exchange Agreement (Energy Transfer Equity, L.P.)