Contributions on the Closing Date. On the Closing Date, the General Partner contributed to the Partnership, as provided in the Contribution Agreement, all of its interest as limited partner in the Operating Partnership and received in exchange therefor (i) 4,649,954 Senior Preference Units, 6,000,000 Preference Units and 3,160,000 Common Units representing (together with the 46 Senior Preference Units previously issued to Kaneb) in the aggregate a 98/99th Partnership Interest as Limited Partner in the Partnership and (ii) a Partnership Interest and a credit to its capital account as General Partner in the amount required to increase such capital account to an amount equal to 1/99th of the aggregate capital accounts of all the Partners after giving effect to the issuance of LP Units contemplated by clause (i) of this Section 4.2. The Agreed Value of the General Partner's interest as limited partner in the Operating Partnership on the Closing Date was $306,920,196.
Contributions on the Closing Date. The Depositor hereby agrees to transfer the Contributed Assets, pursuant to the terms of the Deposit Agreement, on the Closing Date, as a capital contribution to the Issuer.
Contributions on the Closing Date. Each of Marlxx xxx Enron hereby agrees to make, on the Closing Date, the following payments and capital contributions:
Contributions on the Closing Date. 4.2.1. On the Closing Date, KPL shall contribute to the Partnership, as provided in the Contribution Agreement, the property and other considerations described in the Contribution Agreement as being so contributed and shall receive an exchange therefor (i) a Partnership Interest as a Limited Partner equal to the percentage obtained by multiplying .99 by the quotient of (A) the Net Agreed Value of KPL's Capital Contribution as a Limited Partner (as provided below) divided by (B) such amount plus $990, and (ii) a Partnership interest and a credit to its capital account as General Partner in the amount required to increase such capital account to an amount equal to 1% of the aggregate capital accounts of all the Partners after giving effect to the issuance of Partnership Interests contemplated by clause (i) of this Section 4.2.1.
