Distributions by the Partnership at the Closing. The Partnership shall distribute to HIP LP an amount in cash equal to (a) the IPO Proceeds less (a) the sum of the Transaction Expenses and the Retained Proceeds. Such distribution shall, in whole or in part, be treated by HIP LP as reimbursement of certain preformation capital expenditures, within the meaning of Treasury Regulations Section 1.707-4(d). HIP LP shall, in turn, distribute 50% of such amount to HINDL and 50% of such amount to GIP.
Appears in 2 contracts
Samples: Contribution, Conveyance and Assumption Agreement (Hess Midstream Partners LP), Contribution, Conveyance and Assumption Agreement
Distributions by the Partnership at the Closing. The Partnership shall distribute to HIP LP an amount in cash equal to (a) the IPO Proceeds less (a) the sum of the Transaction Expenses and the Retained Proceeds. Such distribution shall, in whole or in part, be treated by HIP LP as reimbursement of certain preformation capital expenditures, within the meaning of Treasury Regulations Section 1.707-4(d). HIP LP shall, in turn, distribute 50% of such amount to HINDL and 50% of such amount to GIP.
Appears in 2 contracts
Samples: Contribution, Conveyance and Assumption Agreement (Hess Midstream Partners LP), Contribution, Conveyance and Assumption Agreement (Hess Midstream Partners LP)
Distributions by the Partnership at the Closing. The Partnership shall distribute to HIP LP an amount in cash equal to (a) the IPO Proceeds less (a) the sum of the Transaction Expenses and the Retained Proceeds. Such distribution shall, in whole or in part, be treated by HIP LP as reimbursement of certain preformation capital expenditures, within the meaning of Treasury Regulations Section 1.707-4(d). [HIP LP shall, in turn, distribute 50% of such amount to HINDL and 50% of such amount to GIP.]
Appears in 1 contract
Samples: Contribution, Conveyance and Assumption Agreement (Hess Midstream Partners LP)
