Definition of TCEP Equity


TCEP Equity means (i) the Class A Preferred Units and Common Units initially issued to TCEP or its Affiliates pursuant to the Purchase Agreement, and (ii) any securities issued directly or indirectly with respect to the foregoing securities by way of Unit split, Unit dividend, or other division of securities, or in connection with a combination of securities, recapitalization, merger, consolidation, or other reorganization. As to any particular securities constituting TCEP Equity, such securities shall cease to be TCEP Equity when they have been (a) disposed of in a Public Offering, (b) disposed of in a Public Sale, or (c) repurchased or redeemed by the LLC or any Subsidiary thereof in accordance with this Agreement.