Common use of Certain Returns of Capital Clause in Contracts

Certain Returns of Capital. Any portion of the Capital Contribution of the Limited Partnership (except for necessary operating capital) that has not been expended or that is not, or in the determination of the Managing Partner, will not be committed for expenditure by the second anniversary of the Activation of the NPI Partnership will promptly be refunded to the Limited Partnership as a return of part of its Capital Contribution at the earlier of such determination or the second anniversary of the Activation of the NPI Partnership. In addition, the Managing Partner shall contribute cash to the NPI Partnership (with respect to which its Capital Accounts will be credited) in an amount equal to the amount paid to the Managing Partner in respect of the Acquisitions Fee attributable (on a proportionate basis) to the unexpended amount of Capital Contributions so refunded, which cash shall be refunded to the Limited Partnership together with the unexpended Capital Contributions so refunded. Geodyne Production shall be responsible for the obligation of the Managing Partner to contribute cash to the NPI Partnership pursuant to this Section 3.

Appears in 4 contracts

Samples: Partnership Agreement (Geodyne Institutional Pension Energy Income P-2 LTD Ptnship), Partnership Agreement (Geodyne Institutional Pension Energy Income P-2 LTD Ptnship), Partnership Agreement (Geodyne Institutional Pension Energy Income P-2 LTD Ptnship)

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Certain Returns of Capital. Any portion of the Capital Contribution of the Limited Partnership (except for necessary operating capital) that has not been expended or that is not, or in the determination of the Managing Partner, will not be committed for expenditure by the second anniversary of the Activation of the NPI Production Partnership will promptly be refunded to the Limited Partnership as a return of part of its Capital Contribution at the earlier of such determination or the second anniversary of the Activation of the NPI Production Partnership. In addition, the Managing Partner shall contribute cash to the NPI Production Partnership (with respect to which its Capital Accounts will be credited) in an amount equal to the amount paid to the Managing Partner in respect of the Acquisitions and Operations Fee attributable (on a proportionate basis) to the unexpended amount of Capital Contributions so refunded, which cash shall be refunded to the Limited Partnership together with the unexpended Capital Contributions so refunded. Geodyne Production shall be responsible for the obligation of the Managing Partner to contribute cash to the NPI Production Partnership pursuant to this Section 3.

Appears in 3 contracts

Samples: Partnership Agreement (Geodyne Energy Income LTD Partnership Ii-B), Partnership Agreement (Geodyne Energy Income LTD Partnership Ii-B), Partnership Agreement (Geodyne Energy Income LTD Partnership Ii-B)

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Certain Returns of Capital. Any portion of the Capital Contribution of the Limited Partnership (except for necessary operating capital) that has not been expended or that is not, or in the determination of the Managing Partner, will not be committed for expenditure by the second anniversary of the Activation of the NPI Partnership will promptly be refunded to the Limited Partnership as a return of part of its Capital Contribution at the earlier of such determination or the second anniversary of the Activation of the NPI Partnership. In addition, the Managing Partner shall contribute cash to the NPI Partnership (with respect to which its Capital Accounts will be credited) in an amount equal to the amount paid to the Managing Partner in respect of the Acquisitions Fee attributable (on a proportionate basis) to the unexpended amount of Capital Contributions so refunded, which cash shall be refunded to the Limited Partnership together with the unexpended Capital Contributions so refunded. Geodyne Production shall be responsible for the obligation of the Managing Partner to contribute cash to the NPI Partnership pursuant to this Section 3.contribute

Appears in 1 contract

Samples: Partnership Agreement (Geodyne Institutional Pension Energy Income P-2 LTD Ptnship)

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