Common use of Partnership Authority Clause in Contracts

Partnership Authority. The Partnership shall ensure prior to instructing any Manager to sell Units that (i) the Partnership shall have obtained all necessary partnership authority for the offer and sale of such Units, (ii) there are at all times sufficient Common Units to provide for the issuance, free of any preemptive rights, of the maximum aggregate number of Units authorized for issuance pursuant to the terms of this Agreement.

Appears in 5 contracts

Samples: Terms Agreement (Plains All American Pipeline Lp), Equity Distribution Agreement (Plains All American Pipeline Lp), Terms Agreement (Natural Resource Partners Lp)

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Partnership Authority. The Partnership shall ensure prior to instructing any the Manager to sell Units that (i) the Partnership shall have obtained all necessary partnership authority for the offer and sale of such Units, (ii) there are at all times sufficient Common Units to provide for the issuance, free of any preemptive rights, of the maximum aggregate number of Units authorized for issuance pursuant to the terms of this Agreement.

Appears in 2 contracts

Samples: Equity Distribution Agreement (Paa Natural Gas Storage Lp), Terms Agreement (Plains All American Pipeline Lp)

Partnership Authority. The Partnership shall ensure that prior to instructing any Manager to sell Units that (i) the Partnership shall have obtained all necessary partnership authority approvals for the offer and sale of such Units, Units and (ii) there are at all times sufficient Common Units to provide for the issuance, free of any preemptive rights, of the maximum aggregate number of Common Units authorized for issuance by the Board pursuant to the terms of this Agreement.

Appears in 1 contract

Samples: Equity Distribution Agreement (Atlas Pipeline Partners Lp)

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Partnership Authority. The Partnership shall ensure that prior to instructing any the Manager to sell Units that (i) the Partnership shall have obtained all necessary partnership authority approvals for the offer and sale of such Units, Units and (ii) there are at all times sufficient Common Units to provide for the issuance, free of any preemptive rights, of the maximum aggregate number of Common Units authorized for issuance by the Board pursuant to the terms of this Agreement.

Appears in 1 contract

Samples: Atlas Pipeline Partners Lp

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