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"definition": {"title": "GP Interest", "snippet": "means: (i) with respect to any limited partnership, a unit of general partnership interest in such partnership; and (ii) with respect to a McNeil Partnership, the units of general partnership interest held by the general partner of such McNeil Partnership and all of the rights in respect thereof, including not only the general partner's proportionate interest of the profits and losses of that McNeil Partnership based on the general partner's capital contribution but also the rights and other assets (if any) corresponding to such McNeil Partnership which are being contributed to the applicable New GP LLC at the direction of the Company in accordance with Article II hereof.", "size": 195, "id": "gp-interest", "examples": ["The Servicer shall prepare and file, on behalf of the holder of the <strong>GP Interest</strong>, all tax returns, tax elections, financial statements and such annual or other reports of the Issuer as are necessary for preparation of tax reports as provided in Article V of the Trust Agreement, including without limitation forms 1099 and 1066.", "As of the date hereof, other than the Existing Units, the WMLP Incentive Distribution Rights, the WMLP <strong>GP Interest</strong> and the TexNew Mex Units, neither Unitholder is a Record Holder nor owns beneficially any (i) units or voting securities of WMLP, (ii) securities of WMLP convertible into or exchangeable for units or voting securities of WMLP or (iii) options or other rights to acquire from WMLP any units, voting securities or securities convertible into or exchangeable for units or voting securities of WMLP.", "Parent GP is the sole record and beneficial owner of the Parent <strong>GP Interest</strong>, and such Parent <strong>GP Interest</strong> has been duly authorized and validly issued in accordance with applicable laws and the Parent Partnership Agreement.", "Other than its ownership of the <strong>GP Interest</strong> and the IDRs, the General Partner will not, at the Closing Time and each Date of Delivery, own, directly or indirectly, any equity or long-term debt securities of any corporation, partnership, limited liability company, joint venture, association or other entity.", "The holder of the <strong>GP Interest</strong> is authorized to modify the allocations in this paragraph if necessary or appropriate, in its sole discretion, for the allocations to fairly reflect the economic income, gain or loss to the holder of the <strong>GP Interest</strong>, the Certificateholders, or as otherwise required by the Code.", "Subject to Section 13.2, neither the Partnership nor any of its Affiliates shall transfer any or all of the limited liability company interests of the General Partner and the General Partner shall not transfer the <strong>GP Interest</strong> to any Person whatsoever.", "In addition, any third party creditors of the Trust (other than in connection with the obligations described in the preceding sentence for which the Holder of the <strong>GP Interest</strong> shall not be liable) shall be deemed third party beneficiaries of this paragraph.", "ETE, ETE Holdings and ETP are entering into this Agreement to, among other things, set forth certain governance and other rights of the ETE Parties with respect to Sunoco GP and SXL, including the SXL IDRs and the SXL <strong>GP Interest</strong> owned by Sunoco GP.", "Such <strong>GP Interest</strong> has been duly authorized and validly issued in accordance with the Partnership Agreement, and the General Partner owns such <strong>GP Interest</strong> free and clear of all Liens (except restrictions on transferability as described in the SEC Documents), other than those created by or arising under the Delaware LP Act.", "The Partnership hereby accepts the Initial <strong>GP Interest</strong>, as a recapitalization of the General Partner\u2019s interest in the Partnership."], "related": [["class-p-interest", "Class P Interest", "Class P 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