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(a) shall be distributed, unless the provisions of Section 6.3 require otherwise: (a) First, 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 has been reduced to zero pursuant to the second sentence of a Section 6.6(a); (b) Second, 100% to all Unitholders holding Common Units, Pro Rata, until there has been distributed in respect of each 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 then Outstanding an aggregate amount equal to the Initial Cumulative Common Unit Price. 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. 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, (a) 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 has been reduced to zero pursuant to the second sentence of a Section 6.6(a); and (b) then to all Unitholders holding Common Units, Pro Rata, until there has been distributed in respect of each 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 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 6.4.

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: (a) First, 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 has been reduced to zero pursuant to the second sentence of a Section 6.6(a); (b) Second, (x) to the Unitholders holding Common Units, Pro Rata, until there has been distributed in respect of each 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 then Outstanding an aggregate amount equal to the Initial Cumulative Common Unit Price. 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 shall, subject to Section 16.3 in respect of Series A Preferred Units, 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. 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 Cumulative 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

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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 Mxxxxxxx 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 100% to the 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 1 contract

Samples: Limited Partnership Agreement (Hoegh 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: (a) First, 100% to all the Unitholders, Pro Rata, until the Minimum Quarterly Distribution has been reduced to zero pursuant to the General Partner and the holders second sentence of Section 6.6(a); (b) Second, 100% to all Unitholders holding Common Units and Class A Units Units, 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 there has been distributed in respect of a each 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 then Outstanding an aggregate amount equal to the Initial Cumulative Common Unit Price. 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)

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