Exempt Securities. The sale and issuance of the Subordinated Units to P66 Company, and the General Partner Units and the IDRs to the General Partner are exempt from the registration requirements of the Securities Act and the rules and regulations and the securities laws of any state having jurisdiction with respect thereto, and none of the ▇▇▇▇▇▇▇▇ Entities has taken or will take any action that would cause the loss of such exemption.
Appears in 2 contracts
Sources: Underwriting Agreement (Phillips 66 Partners Lp), Underwriting Agreement (Phillips 66 Partners Lp)