Common use of Contributions by the General Partner and its Affiliates Clause in Contracts

Contributions by the General Partner and its Affiliates. (a) On the Closing Date and pursuant to the Closing Contribution Agreement, (i) the General Partner’s initial general partner interest and its limited partner interest was converted into (A) the General Partner Interest, subject to all of the rights, privileges and duties of the General Partner under this Agreement, and (B) the Incentive Distribution Rights, and (ii) Crosstex Energy, Inc.’s limited partner interest was converted (taking into account the effect of the Unit Split) into (A) 666,000 Common Units, (B) 9,334,000 Subordinated Units and (C) the right to receive $2.5 million from the Partnership on the Closing Date.

Appears in 4 contracts

Samples: Unit Purchase Agreement (Crosstex Energy Inc), Crosstex Energy Lp, Crosstex Energy Lp

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Contributions by the General Partner and its Affiliates. (a) On the Closing Date and pursuant to the Closing Contribution Agreement, (i) the General Partner’s 's initial general partner interest and its limited partner interest was shall be converted into (A) the General Partner Interest, subject to all of the rights, privileges and duties of the General Partner under this Agreement, and (B) the Incentive Distribution Rights, and (ii) Crosstex Energy, Inc.’s 's limited partner interest was converted (taking into account the effect of the Unit Split) into (A) 666,000 Common Units, (B) 9,334,000 Subordinated Units and (C) the right to receive $2.5 million from the Partnership on the Closing Date.

Appears in 1 contract

Samples: Crosstex Energy Lp

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