Amendment Procedures. Except as provided in Sections 13.1 and 13.3, all amendments to this Agreement shall be made in accordance with the following requirements. Amendments to this Agreement may be proposed only by, or with the written consent of, the Board of Directors; provided, however, that the Board of Directors shall have no duty or obligation to propose any amendment to this Agreement and may decline to do so free of any fiduciary duty or obligation whatsoever to the Partnership or any Limited Partner and, in declining to propose an amendment, to the fullest extent permitted by applicable law shall not be required to act in good faith or pursuant to any other standard imposed by this Agreement, any Group Member Agreement, any other agreement contemplated hereby or under the ▇▇▇▇▇▇▇▇ Islands Act or any other law, rule or regulation. A proposed amendment shall be effective upon its approval by the Board of Directors and the holders of a Unit Majority, unless a greater or different percentage is required under this Agreement or by the ▇▇▇▇▇▇▇▇ Islands Act. Each proposed amendment that requires the approval of the holders of a specified percentage of Outstanding Units shall be set forth in a writing that contains the text of the proposed amendment. If such an amendment is proposed, the Board of Directors shall seek the written approval of the requisite percentage of Outstanding Units or call a meeting of the Unitholders to consider and vote on such proposed amendment. The Board of Directors shall notify all Record Holders upon final adoption of any such proposed amendments.
Appears in 12 contracts
Sources: Limited Partnership Agreement (Navios Maritime Midstream Partners LP), Limited Partnership Agreement (Navios Maritime Containers Inc.), Limited Partnership Agreement (Navios Maritime Partners L.P.)
Amendment Procedures. Except as provided in Sections Section 13.1 and Section 13.3, all amendments to this Agreement shall be made in accordance with the following requirementsrequirements contained in this Section 13.2. Amendments to this Agreement may be proposed only by, or with by the written consent of, the Board of DirectorsGeneral Partner; provided, however, to the full extent permitted by law, that the Board of Directors General Partner shall have no duty or obligation to propose any amendment to this Agreement and may decline to do so free of any fiduciary duty or obligation whatsoever to the Partnership or Partnership, any Limited Partner or Assignee and, in declining to propose an amendment, to the fullest extent permitted by applicable law shall not be required to act in good faith or pursuant to any other standard imposed by this Agreement, any Group Member Agreement, any other agreement contemplated hereby or under the ▇▇▇▇▇▇▇▇ Islands Delaware Act or any other law, rule or regulationregulation or at equity. A proposed amendment shall be effective upon its approval by the Board of Directors General Partner and the holders of a Unit Majority, unless a greater or different percentage is required under this Agreement or by the ▇▇▇▇▇▇▇▇ Islands ActDelaware law. Each proposed amendment that requires the approval of the holders of a specified percentage of Outstanding Units shall be set forth in a writing that contains the text of the proposed amendment. If such an amendment is proposed, the Board of Directors General Partner shall seek the written approval of the requisite percentage of Outstanding Units or call a meeting of the Unitholders to consider and vote on such proposed amendment. The Board of Directors General Partner shall notify all Record Holders upon final adoption of any such proposed amendments.
Appears in 8 contracts
Sources: Limited Partnership Agreement (Spectra Energy Partners, LP), Equity Restructuring Agreement (Spectra Energy Partners, LP), Limited Partnership Agreement (Spectra Energy Partners, LP)
Amendment Procedures. Except as provided in Sections Section 13.1 and Section 13.3, all amendments to this Agreement shall be made in accordance with the following requirementsrequirements contained in this Section 13.2. Amendments to this Agreement may be proposed only by, or with by the written consent of, the Board of DirectorsGeneral Partner; provided, however, that to the Board of Directors fullest extent permitted by law, the General Partner shall have no duty or obligation to propose any amendment to this Agreement and may decline to do so free of any fiduciary duty or obligation whatsoever to the Partnership or any Limited Partner and, in declining to propose an amendment, to the fullest extent permitted by applicable law shall not be required to act in good faith or pursuant to any other standard imposed by this Agreement, any Group Member Agreement, any other agreement contemplated hereby or under the ▇▇▇▇▇▇▇▇ Islands Delaware Act or any other law, rule or regulationregulation or at equity. A proposed amendment shall be effective upon its approval by the Board of Directors General Partner and the holders of a Unit Majority, unless a greater or different percentage is required under this Agreement or by the ▇▇▇▇▇▇▇▇ Islands ActDelaware law. Each proposed amendment that requires the approval of the holders of a specified percentage of Outstanding Units shall be set forth in a writing that contains the text of the proposed amendment. If such an amendment is proposed, the Board of Directors General Partner shall seek the written approval of the requisite percentage of Outstanding Units or call a meeting of the Unitholders to consider and vote on such proposed amendment. The Board of Directors General Partner shall notify all Record Holders upon final adoption of any such proposed amendments.
Appears in 7 contracts
Sources: Agreement of Limited Partnership (Blueknight Energy Partners, L.P.), Global Transaction Agreement (Blueknight Energy Partners, L.P.), Agreement of Limited Partnership (Blueknight Energy Partners, L.P.)
Amendment Procedures. Except as provided in Sections Section 13.1 and Section 13.3, all amendments to this Agreement shall be made in accordance with the following requirements. Amendments to this Agreement may be proposed only by, or with the written consent of, the Board of Directors; provided, however, that the Board of Directors shall have no duty or obligation to propose any amendment to this Agreement and may decline to do so free of any fiduciary duty or obligation whatsoever to the Partnership or any Limited Partner Partner, any Record Holder or any other Person and, in declining to propose an amendment, to the fullest extent permitted by applicable law shall not be required to act in good faith or pursuant to any other standard imposed by this Agreement, any Group Member Agreement, any other agreement contemplated hereby or under the ▇▇▇▇▇▇▇▇ Islands Act or any other law, rule or regulation. A Subject to Section 16.5, Section 17.5 and Section 18.5, to the extent applicable, a proposed amendment shall be effective upon its approval by the Board of Directors and and, if applicable, the holders of a Unit Majority, unless a greater or different percentage is required under this Agreement or by the ▇▇▇▇▇▇▇▇ Islands Act. Each proposed amendment that requires the approval of the holders of a specified percentage of Outstanding Units shall be set forth in a writing that contains the text of the proposed amendment. If such an amendment is proposed, the Board of Directors shall seek the written approval of the requisite percentage of Outstanding Units or call a meeting of the Unitholders to consider and vote on such proposed amendment. The Board of Directors shall notify all Record Holders upon final adoption of any such proposed amendments.
Appears in 7 contracts
Sources: Agreement of Limited Partnership (GasLog Partners LP), Limited Partnership Agreement (GasLog Partners LP), Limited Partnership Agreement (GasLog Partners LP)
Amendment Procedures. Except as provided in Sections 13.1 and 13.3, all amendments to this Agreement shall be made in accordance with the following requirements. Amendments to this Agreement may be proposed only by, or with the written consent of, of a majority of the Board of Directors; provided, however, that the Board of Directors shall have no duty or obligation to propose any amendment to this Agreement and may decline to do so free of any fiduciary duty or obligation whatsoever to the Partnership or any Limited Partner and, in declining to propose an amendment, to the fullest extent permitted by applicable law shall not be required to act in good faith or pursuant to any other standard imposed by this Agreement, any Group Member Agreement, any other agreement contemplated hereby or under the ▇▇▇▇▇▇▇▇ Islands Act or any other law, rule or regulation. A proposed amendment shall be effective upon its approval by the Board of Directors and the holders of a Unit Majority, unless a greater or different percentage is required under this Agreement or by the ▇▇▇▇▇▇▇▇ Islands Act. Each proposed amendment that requires the approval of the holders of a specified percentage of Outstanding Units shall be set forth in a writing that contains the text of the proposed amendment. If such an amendment is proposed, the Board of Directors shall seek the written approval of the requisite percentage of Outstanding Units or call a meeting of the Unitholders to consider and vote on such proposed amendment. The Board of Directors shall notify all Record Holders upon final adoption of any such proposed amendments.
Appears in 3 contracts
Sources: Limited Partnership Agreement (FAREASTERN SHIPPING LTD), Limited Partnership Agreement (Dynagas LNG Partners LP), Limited Partnership Agreement (Dynagas LNG Partners LP)
Amendment Procedures. Except as provided in Sections Section 13.1 and Section 13.3, all amendments to this Agreement shall be made in accordance with the following requirementsrequirements contained in this Section 13.2. Amendments to this Agreement may be proposed only by, or with by the written consent of, the Board of DirectorsGeneral Partner; provided, however, that to the Board of Directors full extent permitted by law, the General Partner shall have no duty or obligation to propose any amendment to this Agreement and may decline to do so free of any fiduciary duty or obligation whatsoever to the Partnership or Partnership, any Limited Partner and, in declining to propose an amendment, to the fullest extent permitted by applicable law shall not be required to act in good faith or pursuant to any other standard imposed by this Agreement, any Group Member Agreement, any other agreement contemplated hereby or under the ▇▇▇▇▇▇▇▇ Islands Delaware Act or any other law, rule or regulationregulation or at equity. A proposed amendment shall be effective upon its approval by the Board of Directors General Partner and the holders of a Unit Majority, unless a greater or different percentage is required under this Agreement or by the ▇▇▇▇▇▇▇▇ Islands ActDelaware law. Each proposed amendment that requires the approval of the holders of a specified percentage of Outstanding Units shall be set forth in a writing that contains the text of the proposed amendment. If such an amendment is proposed, the Board of Directors General Partner shall seek the written approval of the requisite percentage of Outstanding Units or call a meeting of the Unitholders to consider and vote on such proposed amendment, in each case in accordance with the other provisions of this Article XIII. The Board of Directors General Partner shall notify all Record Holders upon final adoption of any such proposed amendments.
Appears in 3 contracts
Sources: Limited Partnership Agreement (Westmoreland Resource Partners, LP), Contribution Agreement (WESTMORELAND COAL Co), Limited Partnership Agreement
Amendment Procedures. Except as provided in Sections 13.1 14.1 and 13.314.3, all amendments to this Agreement shall be made in accordance with the following requirementsprocedures:
14.2.1. Amendments amendments to this Agreement may only be proposed only by, by or with the written consent ofof the General Partner, the Board of Directors; provided, however, provided that the Board of Directors General Partner shall have no duty or obligation to propose any amendment to this Agreement and may decline to do so free of any fiduciary duty or obligation whatsoever to the Partnership or any Limited Partner and, in declining to propose or consent to an amendment, amendment to the fullest extent permitted by applicable law Law, shall not be required to act in good faith or pursuant to any other standard imposed by this Agreement, any Group Member Agreement, any other agreement contemplated hereby or under the ▇▇▇▇▇▇▇▇ Islands Limited Partnership Act or the Exempted Partnerships Act or any other law, rule Law or regulationat equity;
14.2.2. A a proposed amendment shall be effective upon its approval by the Board of Directors and the holders of a Unit MajorityGeneral Partner and, unless a greater or different percentage is where required under this Agreement or by the ▇▇▇▇▇▇▇▇ Islands Limited Partnership Act, on the consent, vote or approval of the amendment by the holders of at least 66 2/3% of the voting power of the Outstanding Units; and
14.2.3. Each each proposed amendment that requires the approval of the holders of a specified percentage of Outstanding Units shall be set forth in a writing that contains the text of the proposed amendment. If such an amendment is proposed, the Board of Directors General Partner shall seek the written approval of the requisite percentage of Outstanding Units or call a meeting of the Unitholders to consider and vote on such proposed amendment. The Board of Directors shall notify all Record Holders upon final adoption of any such proposed amendments.
Appears in 2 contracts
Sources: Limited Partnership Agreement, Limited Partnership Agreement (Brookfield Renewable Energy Partners L.P.)
Amendment Procedures. Except as provided in Sections 13.1 and 13.3, all amendments to this Agreement shall be made in accordance with the following requirementsrequirements of this Section 13.2. Amendments to this Agreement may be proposed only by, or with by the written consent of, the Board of DirectorsGeneral Partner; provided, however, that the Board of Directors General Partner shall have no duty or obligation to propose any amendment to this Agreement and may decline to do so free of any duty (including any fiduciary duty duty) or obligation whatsoever to the Partnership or Partnership, any Limited Partner or any other Person bound by this Agreement and, in declining to propose an amendment, amendment to the fullest extent permitted by applicable law law, shall not be required to act in good faith or pursuant to any other standard imposed by this Agreement, any Group Member Agreement, any other agreement contemplated hereby or under the ▇▇▇▇▇▇▇▇ Islands Delaware Act or any other law, rule or regulationregulation or at equity. A proposed amendment shall be effective upon its approval by the Board of Directors General Partner and the holders of a Unit Share Majority, unless a greater or different percentage is required under this Agreement or by the ▇▇▇▇▇▇▇▇ Islands ActDelaware law. Each proposed amendment that requires the approval of the holders of a specified percentage of Outstanding Units Shares shall be set forth in a writing that contains the text of the proposed amendment. If such an amendment is proposed, the Board of Directors General Partner shall seek the written approval of the requisite percentage of Outstanding Units Shares or call a meeting of the Unitholders Shareholders to consider and vote on such proposed amendment, in each case in accordance with the other provisions of this Article XIII. The Board of Directors General Partner shall notify all Record Holders upon final adoption of any such proposed amendments.
Appears in 2 contracts
Sources: Limited Partnership Agreement, Agreement of Limited Partnership (Plains Gp Holdings Lp)
Amendment Procedures. Except as provided in Sections 13.1 and 13.3, all amendments to this Agreement shall be made in accordance with the following requirements. Amendments to this Agreement may be proposed only by, or with by the written consent ofGeneral Partner. To the fullest extent permitted by law, the Board of Directors; provided, however, that the Board of Directors General Partner shall have no duty or obligation to propose or approve any amendment to this Agreement and may decline to do so in its sole discretion free of any fiduciary duty or obligation whatsoever to the Partnership or Partnership, any Limited Partner or any other Person with an interest in a Partnership Interest or otherwise bound by this Agreement, and, in declining to propose or approve an amendment, to the fullest extent permitted by applicable law shall not be required to act in good faith or pursuant to any other standard imposed by this Agreement, any Group Member Agreement, any other agreement contemplated hereby or under the ▇▇▇▇▇▇▇▇ Islands Delaware Act or any other law, rule or regulationregulation or at equity. A proposed An amendment shall be effective upon its approval by the Board of Directors and the holders of General Partner and, except as otherwise provided by Section 13.1 or Section 13.3, a Unit Majority, unless a greater or different percentage is required under this Agreement or by the ▇▇▇▇▇▇▇▇ Islands ActDelaware law. Each proposed amendment that requires the approval of the holders of a specified percentage of Outstanding Units shall be set forth in a writing that contains the text of the proposed amendment. If such an amendment is proposed, the Board of Directors General Partner shall seek the written approval of the requisite percentage of Outstanding Units or call a meeting of the Unitholders to consider and vote on such proposed amendment. The Board of Directors shall notify all Record Holders upon final adoption of any such proposed amendments.proposed
Appears in 1 contract
Amendment Procedures. Except as provided in Sections 13.1 and 13.3, all amendments to this Agreement shall be made in accordance with the following requirements. Amendments to this Agreement may be proposed only by, or with by the written consent of, the Board of DirectorsGeneral Partner; provided, however, that the Board of Directors General Partner shall have no duty or obligation to propose any amendment to this Agreement and may decline to do so free of any fiduciary duty or other obligation whatsoever to the Partnership or Partnership, any Limited Partner or Assignee and, in declining to propose an amendment, to the fullest extent permitted by applicable law shall not be required to act in good faith or pursuant to any other standard imposed by this Agreement, any Group Member Agreement, any other agreement contemplated hereby or under the ▇▇▇▇▇▇▇▇ Islands Delaware Act or any other law, rule or regulationregulation or at equity. A proposed amendment shall be effective upon its approval by the Board of Directors General Partner and the holders of a Unit Majority, unless a greater or different percentage is required under this Agreement or by the ▇▇▇▇▇▇▇▇ Islands ActDelaware law. Each proposed amendment that requires the approval of the holders of a specified percentage of Outstanding Units shall be set forth in a writing that contains the text of the proposed amendment. If such an amendment is proposed, the Board of Directors General Partner shall seek the written approval of the requisite percentage of Outstanding Units or call a meeting of the Unitholders to consider and vote on such proposed amendment. The Board of Directors General Partner shall notify all Record Holders upon final adoption of any such proposed amendments.
Appears in 1 contract
Sources: Limited Partnership Agreement (Abraxas Petroleum Corp)
Amendment Procedures. Except as provided in Sections Section 13.1 and Section 13.3, all amendments to this Agreement shall be made in accordance with the following requirements. Amendments to this Agreement may be proposed only by, or with the written consent of, the Board of Directors; provided, however, that the Board of Directors shall have no duty or obligation to propose any amendment to this Agreement and may decline to do so free of any fiduciary duty or obligation whatsoever to the Partnership or any Limited Partner and, in declining to propose an amendment, to the fullest extent permitted by applicable law shall not be required to act in good faith or pursuant to any other standard imposed by this Agreement, any Group Member Agreement, any other agreement contemplated hereby or under the ▇▇▇▇▇▇▇▇ Islands Act or any other law, rule or regulation. A proposed amendment shall be effective upon its approval by the Board of Directors and the holders of a Unit Majority, unless a greater or different percentage is required under this Agreement or by the ▇▇▇▇▇▇▇▇ Islands Act. Each proposed amendment that requires the approval of the holders of a specified percentage of Outstanding Units shall be set forth in a writing that contains the text of the proposed amendment. If such an amendment is proposed, the Board of Directors shall seek the written approval of the requisite percentage of Outstanding Units or call a meeting of the Unitholders to consider and vote on such proposed amendment. The Board of Directors shall notify all Record Holders upon final adoption of any such proposed amendments.
Appears in 1 contract
Sources: Limited Partnership Agreement (Navios Maritime Containers L.P.)
Amendment Procedures. Except as provided in Sections 13.1 and 13.3, all amendments to this Agreement shall be made in accordance with the following requirements. Amendments to this Agreement may be proposed only by, or with by the written consent of, the Board of DirectorsGeneral Partner; provided, however, that the Board of Directors General Partner shall have no duty or obligation to propose any amendment to this Agreement and may decline to do so free of any fiduciary duty or obligation whatsoever to the Partnership or any Limited Partner and, in declining to propose an amendment, to the fullest extent permitted by applicable law shall not be required to act in good faith or pursuant to any other standard imposed by this Agreement, any Group Member Agreement, any other agreement contemplated hereby or under the ▇M▇▇▇▇▇▇▇ Islands Act or any other law, rule or regulation. A Subject to Section 16.5, to the extent applicable, a proposed amendment shall be effective upon its approval by the Board of Directors General Partner and the holders of a Unit Majority, unless a greater or different percentage is required under this Agreement or by the ▇M▇▇▇▇▇▇▇ Islands Act. Each proposed amendment that requires the approval of the holders of a specified percentage of Outstanding Units shall be set forth in a writing that contains the text of the proposed amendment. If such an amendment is proposed, the Board of Directors General Partner shall seek the written approval of the requisite percentage of Outstanding Units or call a meeting of the Unitholders to consider and vote on such proposed amendment. The Board of Directors General Partner shall notify all Record Holders upon final adoption of any such proposed amendments.
Appears in 1 contract
Sources: Limited Partnership Agreement (Altera Infrastructure L.P.)
Amendment Procedures. Except as provided in Sections Section 13.1 and Section 13.3, all amendments to this Agreement shall be made in accordance with the following requirementsrequirements contained in this Section 13.2. Amendments to this Agreement may be proposed only by, or with by the written consent of, the Board of DirectorsGeneral Partner; provided, however, that the Board of Directors General Partner shall have no duty or obligation to propose any amendment to this Agreement and may decline to do so free of any fiduciary duty or obligation whatsoever to the Partnership or any Limited Partner and, in declining to propose an 65 amendment, to the fullest extent permitted by applicable law shall not be required to act in good faith or pursuant to any other standard imposed by this Agreement, any Group Member Agreement, any other agreement contemplated hereby or under the ▇▇▇▇▇▇▇▇ Islands Delaware Act or any other law, rule or regulationregulation or at equity. A proposed amendment shall be effective upon its approval by the Board of Directors General Partner and the holders of a Unit Majority, unless a greater or different percentage is required under this Agreement or by the ▇▇▇▇▇▇▇▇ Islands ActDelaware law. Each proposed amendment that requires the approval of the holders of a specified percentage of Outstanding Units shall be set forth in a writing that contains the text of the proposed amendment. If such an amendment is proposed, the Board of Directors General Partner shall seek the written approval of the requisite percentage of Outstanding Units or call a meeting of the Unitholders to consider and vote on such proposed amendment. The Board of Directors General Partner shall notify all Record Holders upon final adoption of any such proposed amendments.
Appears in 1 contract
Sources: Limited Partnership Agreement (Targa Resources Partners LP)
Amendment Procedures. Except as provided in Sections 13.1 and 13.3, all amendments to this Agreement shall be made in accordance with the following requirements. Amendments to this Agreement may be proposed only by, by the General Partner or with the written consent of, the Board of Directors; provided, however, that neither the General Partner nor the Board of Directors shall have no a duty or obligation to propose any amendment to this Agreement and may decline to do so free of any fiduciary duty or obligation whatsoever to the Partnership or any Limited Partner and, in declining to propose an amendment, to the fullest extent permitted by applicable law shall not be required to act in good faith or pursuant to any other standard imposed by this Agreement, any Group Member Agreement, any other agreement contemplated hereby or under the ▇▇▇▇▇▇▇▇ Islands Act or any other law, rule or regulation. A proposed amendment shall be effective upon its approval by the General Partner, the Board of Directors and the holders of a Unit Majority, unless a greater or different percentage is required under this Agreement or by the ▇▇▇▇▇▇▇▇ Islands Act. Each proposed amendment that requires the approval of the holders of a specified percentage of Outstanding Units shall be set forth in a writing that contains the text of the proposed amendment. If such an amendment is proposed, the Board of Directors shall seek the written approval of the requisite percentage of Outstanding Units or call a meeting of the Unitholders to consider and vote on such proposed amendment. The Board of Directors shall notify all Record Holders upon final adoption of any such proposed amendments.
Appears in 1 contract
Sources: Limited Partnership Agreement (Capital Product Partners L.P.)
Amendment Procedures. Except as provided in Sections Section 13.1 and Section 13.3, all amendments to this Agreement shall be made in accordance with the following requirementsrequirements contained in this Section 13.2. Amendments to this Agreement may be proposed only by, or with by the written consent of, the Board of DirectorsGeneral Partner; provided, however, to the full extent permitted by law, that the Board of Directors General Partner shall have no duty or obligation to propose any amendment to this Agreement and may decline to do so free of any fiduciary duty or obligation whatsoever to the Partnership or Partnership, any Limited Partner and, in declining to propose an amendment, to the fullest extent permitted by applicable law shall not be required to act in good faith or pursuant to any other standard imposed by this Agreement, any Group Member Agreement, any other agreement contemplated hereby or under the ▇▇▇▇▇▇▇▇ Islands Delaware Act or any other law, rule or regulationregulation or at equity. A proposed amendment shall be effective upon its approval by the Board of Directors General Partner and the holders of a Unit Majority, unless a greater or different percentage is required under this Agreement or by the ▇▇▇▇▇▇▇▇ Islands ActDelaware law. Each proposed amendment that requires the approval of the holders of a specified percentage of Outstanding Units shall be set forth in a writing that contains the text of the proposed amendment. If such an amendment is proposed, the Board of Directors General Partner shall seek the written approval of the requisite percentage of Outstanding Units or call a meeting of the Unitholders to consider and vote on such proposed amendment, in each case in accordance with the other provisions of this Article XIII. The Board of Directors General Partner shall notify all Record Holders upon final adoption of any such proposed amendments.
Appears in 1 contract
Sources: Limited Partnership Agreement (Oxford Resource Partners LP)
Amendment Procedures. Except as provided in Sections Section 5.14(b)(iii), Section 5.15(b)(iii), Section 13.1 and Section 13.3, all amendments to this Agreement shall be made in accordance with the following requirements. Amendments to this Agreement may be proposed only by, or with by the written consent of, the Board of DirectorsGeneral Partner; provided, however, that the Board of Directors General Partner shall have no duty or obligation to propose any amendment to this Agreement and may decline to do so free of any fiduciary duty or obligation whatsoever to the Partnership or any Limited Partner and, in declining to propose an amendment, to the fullest extent permitted by applicable law shall not be required to act in good faith or pursuant to any other standard imposed by this Agreement, any Group Member Agreement, any other agreement contemplated hereby or under the ▇▇▇▇▇▇▇▇ Islands Delaware Act or any other law, rule or regulationregulation or at equity. A proposed amendment shall be effective upon its approval by the Board of Directors General Partner and the holders of a Unit Majority, unless a greater or different percentage is required under this Agreement or by the ▇▇▇▇▇▇▇▇ Islands ActDelaware law. Each proposed amendment that requires the Table of Contents approval of the holders of a specified percentage of Outstanding Units shall be set forth in a writing that contains the text of the proposed amendment. If such an amendment is proposed, the Board of Directors General Partner shall seek the written approval of the requisite percentage of Outstanding Units or call a meeting of the Unitholders to consider and vote on such proposed amendment. The Board of Directors General Partner shall notify all Record Holders upon final adoption of any such proposed amendments.
Appears in 1 contract
Amendment Procedures. Except as provided in Sections 13.1 and 13.3, all amendments to this Agreement shall be made in accordance with the following requirements. Amendments to this Agreement may be proposed only by, or with the written consent of, of a majority of the Board of Directors; provided, however, that the Board of Directors shall have no duty or obligation to propose any amendment to this Agreement and may decline to do so free of any fiduciary duty or obligation whatsoever to the Partnership or any Limited Partner and, in declining to propose an amendment, to the fullest extent permitted by applicable law shall not be required to act in good faith or pursuant to any other standard imposed by this Agreement, any Group Member Agreement, any other agreement contemplated hereby or under the ▇▇▇▇▇▇▇▇ Islands Act or any other law, rule or regulation. A Subject to Section 16.5 and Section 17.5, to the extent applicable, a proposed amendment shall be effective upon its approval by the Board of Directors and the holders of a Unit Majority, unless a greater or different percentage is required under this Agreement or by the ▇▇▇▇▇▇▇▇ Islands Act. Each proposed amendment that requires the approval of the holders of a specified percentage of Outstanding Units shall be set forth in a writing that contains the text of the proposed amendment. If such an amendment is proposed, the Board of Directors shall seek the written approval of the requisite percentage of Outstanding Units or call a meeting of the Unitholders to consider and vote on such proposed amendment. The Board of Directors shall notify all Record Holders upon final adoption of any such proposed amendments.
Appears in 1 contract
Sources: Limited Partnership Agreement (Dynagas LNG Partners LP)
Amendment Procedures. Except as provided in Sections 13.1 and 13.3, all All amendments to this Agreement shall be made in accordance with the following requirements. Amendments to this Agreement may be proposed only by, or with by the written consent ofGeneral Partner. To the fullest extent permitted by law, the Board of Directors; provided, however, that the Board of Directors General Partner shall have no duty or obligation to propose any amendment to this Agreement and may decline to do so free of any fiduciary duty or obligation whatsoever to the Partnership or Partnership, any Limited Partner or any other Person bound by this Agreement, and, in declining to propose an amendment, to the fullest extent permitted by applicable law shall not be required to act in good faith or pursuant to any other standard imposed by this Agreement, any Group Member Agreement, or any other agreement contemplated hereby or under the ▇▇▇▇▇▇▇▇ Islands Delaware Act or any other law, rule rule, or regulationregulation or at equity. A proposed amendment shall be effective upon its approval by the Board of Directors and General Partner and, except as otherwise provided by Section 13.1 or Section 13.3, the holders of a Unit MajorityMajority Interest, unless a greater or different percentage is required under this Agreement or by the ▇▇▇▇▇▇▇▇ Islands ActAgreement. Each proposed amendment that requires the approval of the holders of a specified percentage of Outstanding Units Limited Partner Interests shall be set forth in a writing that contains the text of the proposed amendment. If such an amendment is proposed, the Board of Directors General Partner shall seek the written approval of the requisite percentage of Outstanding Units Limited Partner Interests or call a meeting of the Unitholders Limited Partners to consider and vote on such proposed amendment. The Board of Directors General Partner shall notify all Record Holders Limited Partners upon final adoption of any such proposed amendments.
Appears in 1 contract