Common use of Distributions of Available Cash from Capital Surplus Clause in Contracts

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, to the General Partner and the holders of Common Units and Class A Units Pro Rata (except that the holders of Class A Units will not be entitled to receive any Hydrocarbon Available Cash), until a hypothetical holder of a Common Unit acquired on the Closing Date has received with respect to such Common Unit distributions of Available Cash that are deemed to be Capital Surplus in an aggregate amount equal to the Initial 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 3 contracts

Samples: Limited Partnership Agreement (MPLX Lp), Purchase Agreement (MPLX Lp), Limited Partnership Agreement

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Distributions of Available Cash from Capital Surplus. Available Cash that is deemed to be Capital Surplus pursuant to the provisions of Section 6.3(a6.1(a) shall shall, subject to Section 51 of the Xxxxxxxx Islands Act, be distributed, unless the provisions of Section 6.3 6.1 require otherwise, 100% to the General Partner and the all holders of Common Units and Class A Units Pro Rata (except that the holders of Class A Units will not be entitled to receive any Hydrocarbon Available Cash)in accordance with their respective Percentage Interests, until a hypothetical holder of a Common Unit acquired on the Closing Date has received with respect to such Common Unit Unit, during the period since the Closing Date through such date, distributions of Available Cash that are deemed to be Capital Surplus in an aggregate amount equal to the Initial Unit Price. Thereafter, all Available Cash shall be distributed as if it were Operating Surplus and shall be distributed in accordance with Section 6.46.2.

Appears in 3 contracts

Samples: Limited Partnership Agreement (Navios Maritime Partners L.P.), Limited Partnership Agreement, Limited Partnership Agreement (Navios Maritime 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(a6.1(a) shall shall, subject to Section 40 of the Xxxxxxxx Islands Act, be distributed, unless the provisions of Section 6.3 6.1 require otherwise, 100% to the General Partner and the holders of Common Units and Class A Units Unitholders, Pro Rata (except that the holders of Class A Units will not be entitled to receive any Hydrocarbon Available Cash)Rata, until a hypothetical holder the Minimum Quarterly Distribution is reduced to zero pursuant to the second sentence of a Common Unit acquired on the Closing Date has received with respect to such Common Unit distributions of Section 6.4. Available Cash that are 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 aggregate amount equal to the Initial Cumulative Common Unit PriceArrearage. Thereafter, all Available Cash shall be distributed as if it were Operating Surplus and shall be distributed in accordance with Section 6.46.2.

Appears in 2 contracts

Samples: Operating Agreement (Seadrill Partners LLC), Operating 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(a6.1(a) shall shall, subject to Section 51 of the Xxxxxxxx Islands Act, be distributed, unless the provisions of Section 6.3 6.1 require otherwise, 100% to the General Partner and the holders of Common Units and Class A Units Pro Rata (except that the holders of Class A Units will not be entitled to receive any Hydrocarbon Available Cash)Unitholders in accordance with their respective Percentage Interests, until a hypothetical holder of a Common Unit acquired on the Closing Date has received with respect to such Common Unit Unit, during the period since the Closing Date through such date, distributions of Available Cash that are deemed to be Capital Surplus in an aggregate amount equal to the Initial Unit Price. Thereafter, all Available Cash shall be distributed as if it were Operating Surplus and shall be distributed in accordance with Section 6.46.2.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Navios Maritime Midstream Partners LP), Limited Partnership Agreement (Navios Maritime Midstream Partners LP)

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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 51 of the Xxxxxxxx Islands Act and Section 16.3 in respect of Series A Preferred Units, be distributed, unless the provisions of Section 6.3 require otherwise, 98% to all Unitholders holding Common Units, Pro Rata, and 2% to the General Partner and the holders of Common Units and Class A Units Pro Rata (except that the holders of Class A Units will not be entitled to receive any Hydrocarbon Available Cash)Partner, until a hypothetical holder of a Common Unit acquired on the Closing Date has received with respect to such Common Unit Unit, during the period since the Closing Date through such date, distributions of Available Cash that are deemed to be Capital Surplus in an aggregate amount equal to the Initial 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 2 contracts

Samples: Limited Partnership Agreement, Limited Partnership Agreement (Teekay LNG 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 51 of the Xxxxxxxx Islands Act and Section 16.3 in respect of any series of Preferred Units described therein, be distributed, unless the provisions of Section 6.3 require otherwise, 98% to all Unitholders holding Common Units, Pro Rata, and 2% to the General Partner and the holders of Common Units and Class A Units Pro Rata (except that the holders of Class A Units will not be entitled to receive any Hydrocarbon Available Cash)Partner, until a hypothetical holder of a Common Unit acquired on the Closing Date has received with respect to such Common Unit Unit, during the period since the Closing Date through such date, distributions of Available Cash that are deemed to be Capital Surplus in an aggregate amount equal to the Initial 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 2 contracts

Samples: Agreement of Limited Partnership (Teekay LNG Partners L.P.), Limited Partnership Agreement (Teekay LNG Partners L.P.)

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