Common use of Ownership of the OLP GP Clause in Contracts

Ownership of the OLP GP. The Partnership is the sole member of the OLP GP with a 100% membership interest in the OLP GP; such membership interest has been duly authorized and validly issued in accordance with the limited liability company agreement of the OLP GP (as amended, the “OLP GP Limited Liability Company Agreement”) and is fully paid (to the extent required by the OLP GP Limited Liability Company Agreement) and nonassessable (except as such nonassessability may be affected by Sections 18-607 and 18-804 of the Delaware LLC Act); and the Partnership owns such membership interest free and clear of all Liens (except for restrictions on transferability contained in the OLP GP Limited Liability Company Agreement).

Appears in 6 contracts

Samples: Underwriting Agreement (DCP Midstream Partners, LP), Underwriting Agreement (DCP Midstream Partners, LP), Underwriting Agreement (DCP Midstream Partners, LP)

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Ownership of the OLP GP. The Partnership is the sole member of the OLP GP with a 100% membership interest in the OLP GP; such membership interest has been duly authorized and validly issued in accordance with the limited liability company agreement of the OLP GP (as amended, the “OLP GP Limited Liability Company Agreement”) and is fully paid (to the extent required by the OLP GP Limited Liability Company Agreement) and nonassessable (except as such nonassessability may be affected by Sections 18-607 and 18-804 of the Delaware LLC Act); and the Partnership owns such membership interest free and clear of all Liens (except for restrictions on transferability contained in the OLP GP Limited Liability Company AgreementAgreement or described in the Disclosure Package and the Final Prospectus).

Appears in 4 contracts

Samples: Underwriting Agreement (DCP Midstream, LP), Underwriting Agreement (DCP Midstream, LP), Underwriting Agreement (DCP Midstream, LP)

Ownership of the OLP GP. The Partnership is the sole member of the OLP GP with a 100% membership member interest in the OLP GP; such membership member interest has been duly authorized and validly issued in accordance with the limited liability company agreement of the OLP GP (as amendedthe same may be amended or restated on or prior to the Delivery Date, the “OLP GP Limited Liability Company LLC Agreement”) ), and is fully paid (to the extent required by under the OLP GP Limited Liability Company LLC Agreement) and nonassessable (except as such nonassessability may be affected by Sections 18-607 and 18-804 of the Delaware LLC Act); and the Partnership owns such membership member interest free and clear of all Liens (Liens, except for restrictions on transferability contained set forth in the OLP GP Limited Liability Company LLC Agreement).

Appears in 3 contracts

Samples: Underwriting Agreement (Energy Transfer Operating, L.P.), Underwriting Agreement (Energy Transfer Partners, L.P.), Underwriting Agreement (Sunoco Logistics Partners L.P.)

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Ownership of the OLP GP. The Partnership is the sole member of the OLP GP with a 100% membership interest in the OLP GP; such membership interest has been duly authorized and validly issued in accordance with the limited liability company agreement of the OLP GP (as amended, the “OLP GP Limited Liability Company Agreement”) and is fully paid (to the extent required by the OLP GP Limited Liability Company Agreement) and nonassessable (except as such nonassessability may be affected by Sections 18-607 and 18-804 of the Delaware LLC Act); and the Partnership owns such membership interest free and clear of all Liens (except for restrictions on transferability contained in the OLP GP Limited Liability Company AgreementAgreement or described in the Prospectus).

Appears in 1 contract

Samples: Terms Agreement (DCP Midstream, LP)

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