Definition of GP Change of Control


GP Change of Control means any of the following events: (i) Ergon and Affiliates cease to be the direct or indirect beneficial owner of 50% or more of the combined voting power of the equity interests in the general partner of the Partnership; or (ii) the sale or other disposition by the General Partner of all or substantially all of the assets of the General Partner in one or more transactions to any person other than Ergon and its Affiliates.
Sample 1

Examples of GP Change of Control in a sentence

Notwithstanding any other provision of this Agreement, if a GP Change of Control occurs and there has been no Oasis Change of Control or agreement or understanding to enter into an Oasis Change of Control, or the General Partner is removed as the general partner of the Partnership, then this Agreement, other than the provisions set forth in Section 3.3, Article II and this Article V, may at any time thereafter be terminated by Oasis or the Partnership by written notice to the other Parties.
This Agreement, other than the provisions set forth in Article 3 hereof, may be terminated (a) by the written agreement of all of the Parties or (b) by Ergon or the Partnership immediately upon a GP Change of Control by written notice given to the other Parties to this Agreement.