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picture1_Agreement Sample 203020 | Nep Partnership Agreement


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File: Agreement Sample 203020 | Nep Partnership Agreement
second amended and restated agreement of limited partnership of nextera energy partners lp a delaware limited partnership dated as of august 4 2017 810649 05 wilsr01a msw table of contents ...

icon picture PDF Filetype PDF | Posted on 10 Feb 2023 | 2 years ago
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                             SECOND AMENDED AND RESTATED  
                          AGREEMENT OF LIMITED PARTNERSHIP  
                                          OF  
                             NEXTERA ENERGY PARTNERS, LP  
                                 A Delaware Limited Partnership  
                                        Dated as of  
                                       August 4, 2017
           810649.05-WILSR01A - MSW 
                 
                                                    TABLE OF CONTENTS  
                                                                                                              Page 
                                                           ARTICLE I 
                                                                   
                                                          DEFINITIONS 
                Section 1.1    Definitions................................................................................................................1 
                Section 1.2    Construction ...........................................................................................................18 
                                                           ARTICLE II 
                                                                   
                                                        ORGANIZATION 
                Section 2.1    Formation ...............................................................................................................18 
                Section 2.2    Name ......................................................................................................................19 
                Section 2.3    Registered Office; Registered Agent; Principal Office; Other Offices .................19 
                Section 2.4    Purpose and Business .............................................................................................19 
                Section 2.5    Powers ....................................................................................................................20 
                Section 2.6    Term .......................................................................................................................20 
                Section 2.7    Title to Partnership Assets .....................................................................................20 
                                                           ARTICLE III 
                                                                   
                                               RIGHTS OF LIMITED PARTNERS 
                Section 3.1    Limitation of Liability............................................................................................21 
                Section 3.2    Management of Business .......................................................................................21 
                Section 3.3    Rights of Limited Partners .....................................................................................21 
                                                          ARTICLE IV 
                                                                   
                           CERTIFICATES; RECORD HOLDERS; TRANSFER OF PARTNERSHIP 
                                INTERESTS; REDEMPTION OF PARTNERSHIP INTERESTS 
                Section 4.1    Certificates .............................................................................................................22 
                Section 4.2    Mutilated, Destroyed, Lost or Stolen Certificates .................................................23 
                Section 4.3    Record Holders ......................................................................................................23 
                Section 4.4    Transfer Generally .................................................................................................24 
                Section 4.5    Registration and Transfer of Limited Partner Interests..........................................24 
                Section 4.6    Transfer of the General Partner’s General Partner Interest ...................................26 
                Section 4.7    Restrictions on Transfers .......................................................................................26 
                                                                A-i 
                810649.05-WILSR01A - MSW 
                 
                                                           ARTICLE V 
                                                                   
                      CAPITAL CONTRIBUTIONS AND ISSUANCE OF PARTNERSHIP INTERESTS 
                Section 5.1    Capital Contributions .............................................................................................27 
                Section 5.2    Interest and Withdrawal .........................................................................................27 
                Section 5.3    Units .......................................................................................................................27 
                Section 5.4    Issuances of Additional Partnership Interests ........................................................28 
                Section 5.5    Limited Preemptive Right ......................................................................................29 
                Section 5.6    Splits and Combinations ........................................................................................31 
                Section 5.7    Fully Paid and Non-Assessable Nature of Limited Partner Interests ....................31 
                Section 5.8    Series A Preferred Units ........................................................................................32 
                                                          ARTICLE VI 
                                                                   
                                                        DISTRIBUTIONS 
                Section 6.1    Distributions to Record Holders ............................................................................48 
                                                          ARTICLE VII 
                                                                   
                                     MANAGEMENT AND OPERATION OF BUSINESS 
                Section 7.1    Management by Board of Directors .......................................................................48 
                Section 7.2    Certificate of Limited Partnership .........................................................................55 
                Section 7.3    Restrictions on the Partnership’s Authority to Sell Assets of the 
                               Partnership Group ..................................................................................................56 
                Section 7.4    Reimbursement of the General Partner ..................................................................56 
                Section 7.5    Outside Activities...................................................................................................57 
                Section 7.6    Loans from the General Partner; Loans or Contributions from the 
                               Partnership or Group Members ..............................................................................58 
                Section 7.7    Indemnification ......................................................................................................59 
                Section 7.8    Liability of Indemnitees .........................................................................................61 
                Section 7.9    Resolution of Conflicts of Interest; Standards of Conduct and 
                               Modification of Duties ...........................................................................................61 
                Section 7.10  Certain Additional Matters Requiring Consent of the General Partner .................64 
                Section 7.11  Purchase or Sale of Partnership Interests ...............................................................64 
                Section 7.12  Reliance..................................................................................................................65 
                                                          ARTICLE VIII 
                                                                   
                                     BOOKS, RECORDS, ACCOUNTING AND REPORTS 
                Section 8.1    Records and Accounting ........................................................................................66 
                Section 8.2    Fiscal Year .............................................................................................................66 
                Section 8.3    Reports ...................................................................................................................66 
                                                               A-ii 
                810649.05-WILSR01A - MSW 
                 
                                                          ARTICLE IX 
                                                                   
                                                         TAX MATTERS 
                Section 9.1    Tax Characterizations, Elections and Information .................................................67 
                Section 9.2    Withholding ...........................................................................................................67 
                                                           ARTICLE X 
                                                                   
                                                                   
                                                  ADMISSION OF PARTNERS 
                Section 10.1  Admission of Limited Partners ..............................................................................67 
                Section 10.2  Admission of Successor General Partner ...............................................................68 
                Section 10.3  Amendment of Agreement and Certificate of Limited Partnership .......................68 
                                                          ARTICLE XI 
                                                                   
                                       WITHDRAWAL OR REMOVAL OF PARTNERS 
                Section 11.1  Withdrawal of the General Partner ........................................................................69 
                Section 11.2  Removal of the General Partner .............................................................................70 
                Section 11.3  Interest of Departing General Partner and Successor General Partner ..................70 
                Section 11.4  Withdrawal of Limited Partners.............................................................................72 
                                                          ARTICLE XII 
                                                                   
                                             DISSOLUTION AND LIQUIDATION 
                Section 12.1  Dissolution .............................................................................................................72 
                Section 12.2  Continuation of the Business of the Partnership After Dissolution .......................73 
                Section 12.3  Liquidator ...............................................................................................................73 
                Section 12.4  Liquidation .............................................................................................................74 
                Section 12.5  Cancellation of Certificate of Limited Partnership ................................................75 
                Section 12.6  Return of Contributions .........................................................................................75 
                Section 12.7  Waiver of Partition .................................................................................................75 
                                                          ARTICLE XIII 
                                                                   
                AMENDMENT OF PARTNERSHIP AGREEMENT; MEETINGS; RECORD DATE; VOTING 
                Section 13.1  Amendments to the Partnership Agreement ..........................................................75 
                Section 13.2  Amendment Procedures .........................................................................................77 
                Section 13.3  Amendment Requirements.....................................................................................78 
                Section 13.4  Annual and Special Meetings ................................................................................80 
                Section 13.5  Notice of a Meeting ...............................................................................................83 
                Section 13.6  Record Date ...........................................................................................................84 
                Section 13.7  Postponement and Adjournment ............................................................................84 
                                                               A-iii 
                810649.05-WILSR01A - MSW 
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...Second amended and restated agreement of limited partnership nextera energy partners lp a delaware dated as august wilsra msw table contents page article i definitions section construction ii organization formation name registered office agent principal other offices purpose business powers term title to assets iii rights limitation liability management iv certificates record holders transfer interests redemption mutilated destroyed lost or stolen generally registration partner the general s interest restrictions on transfers v capital contributions issuance withdrawal units issuances additional preemptive right splits combinations fully paid non assessable nature series preferred vi distributions vii operation by board directors certificate authority sell group reimbursement outside activities loans from members indemnification indemnitees resolution conflicts standards conduct modification duties certain matters requiring consent purchase sale reliance viii books records accounting r...

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