Partners GP Units definition

Partners GP Units means the general partner units representing a general partner interest in Partners having the rights and obligations specified with respect to GP Units in the Partners Partnership Agreement.
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Partners GP Units means the Partners GP Series A Units and Partners GP Series B Units having the rights and obligations specified with respect to Partners GP Series A Units and Partners GP Series B Units, respectively, in the Partners GP LLC Agreement.
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Examples of Partners GP Units in a sentence

  • Until the required documentation has been delivered as contemplated by this Section 3.3, each Partners GP Unit shall be deemed at any time after the Effective Time to represent only the right to receive upon such surrender the Merger Consideration payable in respect of the Partners GP Units (including any cash in lieu of fractional units pursuant to Section 3.3(d)) and any distributions to which such holder is entitled pursuant to Section 3.2.

  • Each of the Limited Partners hereby specifically consents to Georgia Metronet, Inc., becoming the Managing General Partner of the Partnership upon its purchase of more than 50% of the Initial General Partner's GP Units pursuant to the terms of the Option Agreement.

  • To the extent that amounts are so deducted and withheld by Partners or the Surviving Entity, such amounts shall be treated for all purposes of this Agreement as having been paid to the holder of Partners GP Units in respect of whom such deduction and withholding was made by Partners or the Surviving Entity, as the case may be.

  • Upon the issuance of New Partners Units to the holders of Partners GP Units in accordance with this Section 3.3 and the compliance by such holders with the requirements of Section 10.3 of the Partners Amended and Restated Partnership Agreement, Partners GP shall consent to the admission of such holders as limited partners of Partners and reflect such admission on the books and records of Partners.

  • As of the date hereof, Partners GP owns 243,914 Partners GP Units and the general partner interests evidenced by the Incentive Compensation Agreement, and such GP Units and general partner interests evidenced by the Incentive Compensation Agreement were duly authorized and validly issued in accordance with the Partners Partnership Agreement.

  • No certificates or scrip of the New Partners Units representing fractional New Partners Units or book entry credit of the same shall be issued upon the exchange of Partners GP Units in accordance with Section 3.3(a), and such fractional interests will not entitle the owner thereof to vote or to have any rights as a holder of any New Partners Units.