Special Provisions Relating to the Holders of Class A Units. A Unitholder holding a Common Unit issued upon conversion of a Class A Unit pursuant to Section 5.12 shall not be issued a Common Unit Certificate pursuant to Section 4.1, and shall not be permitted to transfer such Common Units until such time as the General Partner determines, based on advice of counsel, that the Common Unit issued upon conversion of such Class A Unit should have, as a substantive matter, like intrinsic economic and federal income tax characteristics of an Initial Common Unit. In connection with the condition imposed by this Section 6.10, the General Partner shall take whatever steps are required to provide economic uniformity to the Common Units issued upon conversion of Class A Units in preparation for a transfer of such Common Units, including the application of Sections 5.5(c)(iv) and 6.1(d)(xiv); provided, however, that no such steps may be taken that would have a material adverse effect on the Unitholders holding Common Units represented by Common Unit Certificates.”
Appears in 2 contracts
Sources: Second Amended and Restated Agreement of Limited Partnership (Rose Rock Midstream, L.P.), Contribution Agreement (Rose Rock Midstream, L.P.)