Common use of Completion Funding Obligation Clause in Contracts

Completion Funding Obligation. Upon request by the General Partner, HIP will pay to the Partnership, or any other Person as directed by the General Partner, any amounts necessary to satisfy its Completion Funding Obligation. Amounts expended by HIP in satisfaction of its Completion Funding Obligation shall not be treated as additional Capital Contributions by HIP, its Capital Account shall not be increased by the amount so expended, and its Percentage Equity Interest and its Percentage Voting Interest shall not be adjusted. Such amounts expended shall be included in (x) HIP’s adjusted tax basis in its Limited Partner Interest and (y) the Partnership’s adjusted tax basis in the Tioga Gas Plant. The General Partner may not request additional Capital Contributions from the Partners for amounts that HIP is obligated to expend in satisfaction of its Completion Funding Obligation.

Completion Funding Obligation. Upon request by the General Partner, HIP will pay to the Partnership, or any other Person as directed by the General Partner, any amounts necessary to satisfy its Completion Funding Obligation. Amounts expended by HIP in satisfaction of its Completion Funding Obligation shall not be treated as additional Capital Contributions by HIP, its Capital Account shall not be increased by the amount so expended, and its Percentage Equity Interest and its Percentage Voting Interest shall not be adjusted. Such amounts expended shall be included in (x) HIP’s adjusted tax basis in its Limited Partner Interest and (y) the Partnership’s adjusted tax basis in the Tioga Gas PlantLogistics Assets. The General Partner may not request additional Capital Contributions from the Partners for amounts that HIP is obligated to expend in satisfaction of its Completion Funding Obligation.

Completion Funding Obligation. Upon request by the General Partner, HIP will pay to the Partnership, or any other Person as directed by the General Partner, any amounts necessary to satisfy its Completion Funding Obligation. Amounts expended by HIP in satisfaction of its Completion Funding Obligation shall not be treated as additional Capital Contributions by HIP, its Capital Account shall not be increased by the amount so expended, and its Percentage Equity Interest and its Percentage Voting Interest shall not be adjusted. Such amounts expended shall be included in (x) HIP’s adjusted tax basis in its Limited Partner Interest and (y) the Partnership’s adjusted tax basis in the Tioga Gas PlantGathering Assets. The General Partner may not request additional Capital Contributions from the Partners for amounts that HIP is obligated to expend in satisfaction of its Completion Funding Obligation.