Distributions of Available Cash from Capital Surplus. Available Cash that is deemed to be Capital Surplus pursuant to the provisions of Section 6.3(a) shall be distributed, unless the provisions of Section 6.3 require otherwise and subject to Article V with respect to the Preferred Units, 100% to the General Partner and the Unitholders, Pro Rata, until the Minimum Quarterly Distribution has been reduced to zero pursuant to the second sentence of Section 6.6(a). Available Cash that is deemed to be Capital Surplus shall then be distributed to the General Partner in accordance with its Percentage Interest. Thereafter, all Available Cash shall be distributed as if it were Operating Surplus and shall be distributed in accordance with Section 6.4.
Appears in 5 contracts
Samples: Class D Preferred Unit and Warrant Purchase Agreement (NGL Energy Partners LP), Limited Partnership Agreement (NGL Energy Partners LP), Class D Preferred Unit and Warrant Purchase Agreement (NGL Energy Partners LP)
Distributions of Available Cash from Capital Surplus. Available Cash that is deemed to be Capital Surplus pursuant to the provisions of Section 6.3(a6.2(a) shall shall, subject to Section 51 of the Xxxxxxxx Islands Act and subject to the provisions in respect of Series A Preferred Units, be distributed, unless the provisions of Section 6.3 6.2 require otherwise and subject to Article V with respect to the Preferred Unitsotherwise, 100% to the General Partner and the Unitholders (other than Series A Preferred Unitholders, ) Pro Rata, until the Minimum Quarterly Distribution has been is reduced to zero pursuant to the second sentence of Section 6.6(a). Available Cash that is deemed to be Capital Surplus shall then be distributed to the General Partner in accordance with its Percentage Interest6.5. Thereafter, and subject to Section 5.11(c)(i), all Available Cash shall be distributed as if it were Operating Surplus and shall be distributed in accordance with Section 6.46.3.
Appears in 5 contracts
Samples: Limited Partnership Agreement (KNOT Offshore Partners LP), Series a Preferred Unit Purchase Agreement (KNOT Offshore Partners LP), Limited Partnership Agreement (KNOT Offshore Partners LP)
Distributions of Available Cash from Capital Surplus. Available Cash that is deemed to be Capital Surplus pursuant to the provisions of Section 6.3(a) shall be distributed, unless the provisions of Section 6.3 require otherwise and subject to Article V with respect to the Preferred Unitsotherwise:
(a) First, 100% to the General Partner and the Unitholders, Pro Rata, until the Minimum Quarterly Distribution has been reduced to zero pursuant to the second sentence of Section 6.6(a). Available Cash that is deemed ;
(b) Second, 100% to be Capital Surplus shall all Unitholders holding Common Units, Pro Rata, until there has been distributed in respect of each Common Unit then be distributed Outstanding an amount equal to the General Partner in accordance with its Percentage Interest. Cumulative Common Unit Arrearage; and
(c) Thereafter, all Available Cash shall be distributed as if it were Operating Surplus and shall be distributed in accordance with Section 6.4.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (First Solar, Inc.), Limited Liability Company Agreement (8point3 Energy Partners LP), Master Formation Agreement (Sunpower Corp)
Distributions of Available Cash from Capital Surplus. (a) Subject to Section 16.3 and Section 17.3, Available Cash that is deemed to be Capital Surplus pursuant to the provisions of Section 6.3(a) shall be distributeddistributed as required by Section 16.3 and Section 17.3 and then as follows, unless the provisions of Section 6.3 require otherwise and subject to Article V with respect to the Preferred Unitsotherwise:
(i) First, 100% to the General Partner and the Unitholders, Pro Rata, until the Minimum Quarterly Distribution has been reduced to zero pursuant to the second sentence of Section 6.6(a). Available Cash that is deemed to be Capital Surplus shall then be distributed to the General Partner in accordance with its Percentage Interest. ; and
(ii) Thereafter, all Available Cash shall be distributed as if it were Operating Surplus and 100% shall be distributed in accordance with Section 6.46.4 as if it were Operating Surplus.
Appears in 3 contracts
Samples: Limited Partnership Agreement (Legacy Reserves Lp), Limited Partnership Agreement (Legacy Reserves Lp), Limited Partnership Agreement (Legacy Reserves Lp)
Distributions of Available Cash from Capital Surplus. Available Cash that is deemed to be Capital Surplus pursuant to the provisions of Section 6.3(a) shall be distributed, unless the provisions of Section 6.3 require otherwise and subject otherwise, (a) to Article V with respect to the Preferred Units, 100% to the General Partner and the Unitholders, Pro Rata, until the Minimum Quarterly Distribution has been reduced to zero pursuant to the second sentence of Section 6.6(a). Available Cash that is deemed ; and (b) then to be Capital Surplus shall all Unitholders holding Common Units, Pro Rata, until there has been distributed in respect of each Common Unit then be distributed Outstanding an amount equal to the General Partner in accordance with its Percentage InterestCumulative Common Unit Arrearage. Thereafter, all Available Cash shall be distributed as if it were Operating Surplus and shall be distributed in accordance with Section 6.4.
Appears in 2 contracts
Samples: Limited Partnership Agreement, Limited Partnership Agreement (PennTex Midstream Partners, LP)
Distributions of Available Cash from Capital Surplus. Available Cash that is deemed to be Capital Surplus pursuant to the provisions of Section 6.3(a) shall be distributed, unless the provisions of Section 6.3 require otherwise and subject to Article V with respect to the Preferred Unitsotherwise:
(a) First, 100% to the General Partner and the Unitholders, Pro Rata, until the Minimum Quarterly Distribution has been reduced to zero pursuant to the second sentence of Section 6.6(a). Available Cash that is deemed to be Capital Surplus shall then be distributed ;
(b) Second, (x) to the General Partner Unitholders holding Common Units, Pro Rata, until there has been distributed in accordance with its Percentage Interest. respect of each Common Unit then Outstanding an amount equal to the Cumulative Common Unit Arrearage; and
(c) Thereafter, all Available Cash shall be distributed as if it were Operating Surplus and shall be distributed in accordance with Section 6.4.
Appears in 2 contracts
Samples: Limited Partnership Agreement (New Source Energy Partners L.P.), Limited Partnership Agreement
Distributions of Available Cash from Capital Surplus. Available Cash that is deemed to be Capital Surplus pursuant to the provisions of Section 6.3(a) shall be distributed, unless the provisions of Section 6.3 require otherwise and subject to Article V with respect to the Preferred Unitsotherwise, 100% to the General Partner and the Unitholders, Pro Rata, until the Minimum Quarterly Distribution has been reduced to zero pursuant to the second sentence of Section 6.6(a). Available Cash that is deemed to be Capital Surplus shall then be distributed to the General Partner in accordance with its Percentage Interest. Thereafter, all Available Cash shall be distributed as if it were Operating Surplus and shall be distributed in accordance with Section 6.4.
Appears in 1 contract
Samples: Agreement of Limited Partnership (NGL Energy Partners LP)
Distributions of Available Cash from Capital Surplus. Available Cash that is deemed to be Capital Surplus pursuant to the provisions of Section 6.3(a) shall be distributed, unless the provisions of Section 6.3 require otherwise and subject to Article V with respect to the Preferred Unitsotherwise:
(a) First, 100% to the General Partner and all the Unitholders, Pro Rata, until the Minimum Quarterly Distribution has been reduced to zero pursuant to the second sentence of Section 6.6(a). Available Cash that is deemed ;
(b) Second, 100% to be Capital Surplus shall all Unitholders holding Common Units, Pro Rata, until there has been distributed in respect of each Common Unit then be distributed Outstanding an amount equal to the General Partner in accordance with its Percentage Interest. Cumulative Common Unit Arrearage; and
(c) Thereafter, all Available Cash shall be distributed as if it were Operating Surplus and shall be distributed in accordance with Section 6.4.
Appears in 1 contract
Samples: Limited Partnership Agreement (Susser Petroleum Partners LP)
Distributions of Available Cash from Capital Surplus. Available Cash that is deemed to be Capital Surplus pursuant to the provisions of Section 6.3(a6.2(a) shall shall, subject to Section 51 of the Xxxxxxxx Islands Act, Section 16.3 in respect of Series A Preference Units and Section 17.3 in respect of Series B Preference Units, be distributed, unless the provisions of Section 6.3 6.2 require otherwise and subject to Article V with respect to the Preferred Unitsotherwise, 100% to the General Partner and the Unitholders (other than the Preference Unitholders, ) Pro Rata, until the Minimum Quarterly Distribution has been is reduced to zero pursuant to the second sentence of Section 6.6(a). Available Cash that is deemed to be Capital Surplus shall then be distributed to the General Partner in accordance with its Percentage Interest6.5. Thereafter, all Available Cash shall be distributed as if it were Operating Surplus and shall be distributed in accordance with Section 6.46.3.
Appears in 1 contract
Distributions of Available Cash from Capital Surplus. Available Cash that is deemed to be Capital Surplus pursuant to the provisions of Section 6.3(a6.2(a) shall shall, subject to Section 51 of the Xxxxxxxx Islands Act, Section 16.3 in respect of Series A Preferred Units and Section 17.3 in respect of Series B Preferred Units, be distributed, unless the provisions of Section 6.3 Sections 6.1 and 6.2 require otherwise and subject to Article V with respect to the Preferred Unitsotherwise, 100% to the General Partner and the Unitholders (other than the Preferred Unitholders, ) Pro Rata, until the Minimum Quarterly Distribution has been is reduced to zero pursuant to the second sentence of Section 6.6(a). Available Cash that is deemed to be Capital Surplus shall then be distributed to the General Partner in accordance with its Percentage Interest6.5. Thereafter, all Available Cash shall be distributed as if it were Operating Surplus and shall be distributed in accordance with Section 6.46.3.
Appears in 1 contract
Samples: Limited Partnership Agreement (Dynagas LNG Partners LP)
Distributions of Available Cash from Capital Surplus. Available Cash that is deemed to be Capital Surplus pursuant to the provisions of Section 6.3(a) shall be distributed, unless the provisions of Section 6.3 require otherwise and subject to Article V with respect to the Preferred Unitsotherwise:
(a) First, 100% to the General Partner and all the Unitholders, Pro Rata, until the Minimum Quarterly Distribution has been reduced to zero pursuant to the second sentence of Section 6.6(a). Available Cash that is deemed to be Capital Surplus shall then be distributed to the General Partner in accordance with its Percentage Interest. ;
(b) Thereafter, all Available Cash shall be distributed as if it were Operating Surplus and shall be distributed in accordance with Section 6.4.
Appears in 1 contract
Samples: Limited Partnership Agreement (New Source Energy Partners L.P.)
Distributions of Available Cash from Capital Surplus. Available Cash that is deemed to be Capital Surplus pursuant to the provisions of Section 6.3(a) shall shall, subject to Section 16.3 in respect of Series A Preferred Units, be distributed, unless the provisions of Section 6.3 require otherwise and subject to Article V with respect Capital Surplus in an aggregate amount equal to the Preferred Units, 100% to the General Partner and the Unitholders, Pro Rata, until the Minimum Quarterly Distribution has been reduced to zero pursuant to the second sentence of Section 6.6(a)Initial Unit Price. Available Cash that is deemed to be Capital Surplus shall then be distributed to all Unitholders holding Common Units, Pro Rata, until there has been distributed in respect of each Common Unit then Outstanding an amount equal to the General Partner in accordance with its Percentage InterestCumulative Common Unit Arrearage. Thereafter, all Available Cash shall be distributed as if it were Operating Surplus and shall be distributed in accordance with Section 6.4.
Appears in 1 contract
Samples: Limited Partnership Agreement
Distributions of Available Cash from Capital Surplus. Available Cash that is deemed to be Capital Surplus pursuant to the provisions of Section 6.3(a) shall be distributed, unless the provisions of Section 6.3 require otherwise and subject to Article V with respect to the Preferred Unitsotherwise, 100% to the General Partner and the Unitholders, Pro RataUnitholders in accordance with their respective Percentage Interests, until a hypothetical holder of a Common Unit acquired on the Minimum Quarterly Distribution Closing Date has been reduced received with respect to zero pursuant to such Common Unit, during the second sentence period since the Closing Date through such date, distributions of Section 6.6(a). Available Cash that is are deemed to be Capital Surplus shall then be distributed in an aggregate amount equal to the General Partner in accordance with its Percentage InterestInitial Unit Price. Thereafter, all Available Cash shall be distributed as if it were Operating Surplus and shall be distributed in accordance with Section 6.4.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Copano Energy, L.L.C.)