Common use of Limited Partner Interests Clause in Contracts

Limited Partner Interests. The limited partners of the Partnership hold Units in the Partnership aggregating an approximate 99% limited partner interest in the Partnership, represented as of February 28, 2006 and excluding the Offered Units, by (i) 35,487,348 publicly-traded Units (representing an approximate 93.0% limited partner interest), (ii) 2,359,098 Units (representing an approximate 6.2% limited partner interest) owned by Services Company (the “Service Company LP Units”) and (iii) 80,000 Units (representing an approximate 0.2% limited partner interest) owned by MainLine Sub (the “MainLine Sub LP Units”); such Units are the only limited partner interests of the Partnership that are issued and outstanding; all of such limited partner interests of the Partnership have been duly authorized and validly issued pursuant to the agreement of limited partnership of the Partnership, as amended and restated to the date hereof (the “Partnership Agreement”) and are fully paid and nonassessable (except to the extent such nonassessability may be affected by Section 17-607 of the DRULPA); and the Services Company LP Units are owned free and clear of any Liens, except for the pledge of such Units in connection with the ESOP Notes and the MainLine Sub LP Units are owned free and clear of any Liens.

Appears in 1 contract

Samples: Underwriting Agreement (Buckeye Partners L P)

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Limited Partner Interests. The limited partners of the Partnership hold Units in the Partnership aggregating an approximate 99% limited partner interest in the Partnership, represented as of February 281, 2006 2005 and excluding the Offered Units, by (i) 35,487,348 31,809,597 publicly-traded Units (representing an approximate 93.092.8% limited partner interest), (ii) 2,359,098 2,394,949 Units (representing an approximate 6.27.0% limited partner interest) owned by Services Company (the "Service Company LP Units") and (iii) 80,000 Units (representing an approximate 0.20.23% limited partner interest) owned by MainLine Sub (the "MainLine Sub LP Units"); such Units are the only limited partner interests of the Partnership that are issued and outstanding; all of such limited partner interests of the Partnership have been duly authorized and validly issued pursuant to the agreement of limited partnership of the Partnership, as amended and restated to the date hereof (the "Partnership Agreement") and are fully paid and nonassessable (except to the extent such nonassessability may be affected by Section 17-607 of the DRULPA); and the Services Company LP Units are owned free and clear of any Liens, except for the pledge of such Units in connection with the ESOP Notes and the MainLine Sub LP Units are owned free and clear of any Liens.

Appears in 1 contract

Samples: Guaranty Agreement (Buckeye Partners L P)

Limited Partner Interests. The limited partners of the Partnership hold Units in the Partnership aggregating an approximate 99% limited partner interest in the Partnership, represented as of February 28October 12, 2006 2004 and excluding the Offered Units, by (i) 35,487,348 26,302,860 publicly-traded Units (representing an approximate 93.092.5% limited partner interest), (ii) 2,359,098 2,395,886 Units (representing an approximate 6.26.6% limited partner interest) owned by Services Company (the "Service Company LP Units") and (iii) 80,000 Units (representing an approximate 0.20.22% limited partner interest) owned by MainLine Sub Glenmoor (the “MainLine Sub "Glenmoor LP Units"); such Units are the only limited partner interests of the Partnership that are issued and outstanding; all of such limited partner interests of the Partnership have been duly authorized and validly issued pursuant to the agreement of limited partnership of the Partnership, as amended and restated to the date hereof (the "Partnership Agreement") and are fully paid and nonassessable (except to the extent such nonassessability may be affected by Section 17-607 of the DRULPA); and the Services Company LP Units are owned free and clear of any Liens, except for the pledge of such Units in connection with the ESOP Notes and the MainLine Sub Glenmoor LP Units are owned free and clear of any Liens, except for the pledge of such Units in connection with the BPLA Loan.

Appears in 1 contract

Samples: Buckeye Partners L P

Limited Partner Interests. The limited partners of the Partnership hold Units units in the Partnership aggregating an approximate 99% limited partner interest in the Partnership, represented as of February 28October 1, 2006 and excluding the Offered Units2004, by (i) 35,487,348 26,302,860 publicly-traded Units units (representing an approximate 93.092.5% limited partner interest), (ii) 2,359,098 Units and 2,395,886 units (representing an approximate 6.26.6% limited partner interest) owned by Services Company (the “Service Company LP Units”) and (iii) 80,000 Units units (representing an approximate 0.20.22% limited partner interest) owned by MainLine Sub Glenmoor (the “MainLine Sub Glenmoor LP Units”); such Units units are the only limited partner interests of the Partnership that are issued and outstanding; all of such limited partner interests of the Partnership have been duly authorized and validly issued pursuant to the agreement of limited partnership of the Partnership, as amended and restated to the date hereof (the “Partnership Agreement”) and are fully paid and nonassessable (except to the extent such nonassessability may be affected by Section 17-607 of the DRULPA); and the Services Company LP Units are owned free and clear of any Liens, except for the pledge of such Units units in connection with the ESOP Notes and the MainLine Sub Glenmoor LP Units are owned free and clear of any Liens, except for the pledge of such units in connection with the BPLA Loan.

Appears in 1 contract

Samples: Underwriting Agreement (Buckeye Partners L P)

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Limited Partner Interests. The limited partners of the Partnership hold Units in the Partnership aggregating an approximate 99% limited partner interest in the Partnership, represented as of February 28May 10, 2006 2005 and excluding the Offered Units, by (i) 35,487,348 32,953,426 publicly-traded Units (representing an approximate 93.092.4% limited partner interest), (ii) 2,359,098 2,377,720 Units (representing an approximate 6.26.7% limited partner interest) owned by Services Company (the “Service Company LP Units”) and (iii) 80,000 Units (representing an approximate 0.20.22% limited partner interest) owned by MainLine Sub (the “MainLine Sub LP Units”); such Units are the only limited partner interests of the Partnership that are issued and outstanding; all of such limited partner interests of the Partnership have been duly authorized and validly issued pursuant to the agreement of limited partnership of the Partnership, as amended and restated to the date hereof (the “Partnership Agreement”) and are fully paid and nonassessable (except to the extent such nonassessability may be affected by Section 17-607 of the DRULPA); and the Services Company LP Units are owned free and clear of any Liens, except for the pledge of such Units in connection with the ESOP Notes and the MainLine Sub LP Units are owned free and clear of any Liens.

Appears in 1 contract

Samples: Underwriting Agreement (Buckeye Partners L P)

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