Common use of Adjustment of Minimum Quarterly Distribution Clause in Contracts

Adjustment of Minimum Quarterly Distribution. The Minimum Quarterly Distribution shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Interests in accordance with Section 5.8. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution by a fraction of which the numerator is the Unrecovered Initial Unit Price of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Initial Unit Price of the Common Units immediately prior to giving effect to such distribution.

Appears in 5 contracts

Samples: Limited Partnership Agreement (NextEra Energy Partners, LP), Limited Partnership Agreement (NextEra Energy Partners, LP), Limited Partnership Agreement (NextEra Energy Partners, LP)

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Adjustment of Minimum Quarterly Distribution. The Minimum Quarterly Distribution shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Interests in accordance with Section 5.8. In the event of a distribution 927933.17-WILSR01A - MSW of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution by a fraction of which the numerator is the Unrecovered Initial Unit Price of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Initial Unit Price of the Common Units immediately prior to giving effect to such distribution.

Appears in 1 contract

Samples: Limited Partnership Agreement (Nextera Energy Partners, Lp)

Adjustment of Minimum Quarterly Distribution. (a) The Minimum Quarterly Distribution shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Interests Securities in accordance with Section 5.85.9. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution by a fraction of which the numerator is the Unrecovered Initial Unit Price Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Initial Unit Price Capital of the Common Units immediately prior to giving effect to such distribution. (b) The Minimum Quarterly Distribution shall also be subject to adjustment pursuant to Section 6.7.

Appears in 1 contract

Samples: Agreement of Limited Partnership (NuStar Energy L.P.)

Adjustment of Minimum Quarterly Distribution. (a) The Minimum Quarterly Distribution shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Interests Securities in accordance with Section 5.85.9. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution by a fraction of which the numerator is the Unrecovered Initial Unit Price Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Initial Unit Price Capital of the Common Units immediately prior to giving effect to such distribution. (b) The Minimum Quarterly Distribution shall also be subject to adjustment pursuant to Section 6.6.

Appears in 1 contract

Samples: Merger Agreement (NuStar Energy L.P.)

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Adjustment of Minimum Quarterly Distribution. The Minimum Quarterly Distribution shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Interests Company Securities in accordance with Section 5.85.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution by a fraction of which the numerator is the Unrecovered Initial Unit Price Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Initial Unit Price Capital of the Common Units immediately prior to giving effect to such distribution. 19. Article VI of the Limited Liability Company Agreement is hereby amended to add a new Section 6.9 as follows:

Appears in 1 contract

Samples: Limited Liability Company Agreement (Copano Energy, L.L.C.)

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