Common use of Contributions by the Contributing Parties on the Closing Date and Pursuant to the Contribution Agreement Clause in Contracts

Contributions by the Contributing Parties on the Closing Date and Pursuant to the Contribution Agreement. (a) On the Closing Date and pursuant to the Contribution Agreement, each Person set forth on Exhibit C of the Contribution Agreement (each, an “Asset Contributor”) contributed to the Partnership, as a Capital Contribution, an overriding royalty, royalty or other mineral interest in the assets set forth opposite such Asset Contributor’s name on Exhibit C of the Contribution Agreement in exchange for (i) an amount of cash equal to the product of such Asset Contributor’s Interest Percentage and $83,700,000, (ii) the issuance by the Partnership of a number of Common Units equal to the product of such Asset Contributor’s Interest Percentage and 10,582,708 Common Units and (iii) the right to receive such Asset Contributor’s pro rata portion of the Deferred Issuance and Distribution, as further described in Section 5.4.

Appears in 5 contracts

Samples: Kimbell Royalty Partners, LP, Kimbell Royalty Partners, LP, Kimbell Royalty Partners, LP

AutoNDA by SimpleDocs

Contributions by the Contributing Parties on the Closing Date and Pursuant to the Contribution Agreement. (a) On the Closing Date and pursuant to the Contribution Agreement, each Person set forth on Exhibit C of the Contribution Agreement (each, an “Asset Contributor”) contributed to the Partnership, as a Capital Contribution, an overriding royalty, royalty or other mineral interest in the assets set forth opposite such Asset Contributor’s name on Exhibit C of the Contribution Agreement in exchange for (i) an amount of cash equal to the product of such Asset Contributor’s Interest Percentage and $83,700,000, (ii) the issuance by the Partnership of a number of Common Units equal to the product of such Asset Contributor’s Interest Percentage and 10,582,708 Common Units and (iii) the right to receive such Asset Contributor’s pro rata portion of the Deferred Issuance and Distribution, as further described in Section ‎Section 5.4.

Appears in 1 contract

Samples: Kimbell Royalty Partners, LP

AutoNDA by SimpleDocs
Time is Money Join Law Insider Premium to draft better contracts faster.