Common use of Economic Uniformity; Changes in Law Clause in Contracts

Economic Uniformity; Changes in Law. (A) With respect to an event triggering an adjustment to the Carrying Value of Partnership property pursuant to Section 5.5(d) during any taxable period of the Partnership ending upon, or after, the issuance of IDR Reset Common Units pursuant to Section 5.10, any Unrealized Gains and Unrealized Losses shall be allocated among the Partners in a manner that to the nearest extent possible results in the Capital Accounts maintained with respect to such IDR Reset Common Units issued pursuant to Section 5.10 equaling the product of (1) the Aggregate Quantity of IDR Reset Common Units and (2) the Per Unit Capital Amount for an Initial Common Unit.

Appears in 7 contracts

Samples: Partnership Agreement (NGL Energy Partners LP), Purchase Agreement (NGL Energy Partners LP), Purchase Agreement (NGL Energy Partners LP)

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Economic Uniformity; Changes in Law. (A) With respect to an event triggering an adjustment to the Carrying Value of Partnership property pursuant to Section 5.5(d5.3(d) during any taxable period of the Partnership ending upon, or after, the issuance of IDR Reset Common Units pursuant to Section 5.105.8, any Unrealized Gains and Unrealized Losses shall be allocated among the Partners in a manner that to the nearest extent possible results in the Capital Accounts maintained with respect to such IDR Reset Common Units issued pursuant to Section 5.10 5.8 equaling the product of (1) the Aggregate Quantity of IDR Reset Common Units and (2) the Per Unit Capital Amount for an Initial Common Unit.

Appears in 6 contracts

Samples: Purchase Agreement (Sanchez Production Partners LP), Sanchez Midstream Partners LP, Sanchez Production Partners LP

Economic Uniformity; Changes in Law. (A) With respect to an event triggering an adjustment to the Carrying Value of Partnership property pursuant to Section 5.5(d5.4(d) during any taxable period of the Partnership ending upon, or after, the issuance of IDR Reset Common Units pursuant to Section 5.105.9, any Unrealized Gains and Unrealized Losses shall be allocated among the Partners in a manner that to the nearest extent possible results in the Capital Accounts maintained with respect to such IDR Reset Common Units issued pursuant to Section 5.10 5.9 equaling the product of (1A) the Aggregate Quantity of IDR Reset Common Units and (2B) the Per Unit Capital Amount for an Initial Common Unit.

Appears in 2 contracts

Samples: Central Energy Partners Lp, Central Energy Partners Lp

Economic Uniformity; Changes in Law. (A) With respect to an event triggering an adjustment to the Carrying Value of Partnership property pursuant to Section 5.5(d) during any taxable period of the Partnership ending upon, or after, the issuance of IDR Reset Common Units pursuant to Section 5.105.11, any Unrealized Gains and Unrealized Losses shall be allocated among the Partners in a manner that to the nearest extent possible results in the Capital Accounts maintained with respect to such IDR Reset Common Units issued pursuant to Section 5.10 5.11 equaling the product of (1x) the Aggregate Quantity of IDR Reset Common Units and (2y) the Per Unit Capital Amount for an Initial Common Unit.

Appears in 2 contracts

Samples: Agreement (Inergy Midstream, L.P.), Inergy Midstream, L.P.

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Economic Uniformity; Changes in Law. (A) With respect to an event triggering an adjustment to the Carrying Value of Partnership property pursuant to Section 5.5(d) during any taxable period of the Partnership ending upon, or after, the issuance of IDR Reset Common Units pursuant to Section 5.105.12, any Unrealized Gains and Unrealized Losses shall be allocated among the Partners in a manner that to the nearest extent possible results in the Capital Accounts maintained with respect to such IDR Reset Common Units issued pursuant to Section 5.10 5.12 equaling the product of (1) the Aggregate Quantity of IDR Reset Common Units and (2) the Per Unit Capital Amount for an Initial Class A Common Unit.

Appears in 1 contract

Samples: Midcoast Energy Partners, L.P.

Economic Uniformity; Changes in Law. (Aa) With respect to an event triggering an adjustment to the Carrying Value of Partnership property pursuant to Section 5.5(d) during any taxable period of the Partnership ending upon, or after, the issuance of IDR Reset Common Units pursuant to Section 5.10, any Unrealized Gains and Unrealized Losses shall be allocated among the Partners in a manner that to the nearest extent possible results in the Capital Accounts maintained with respect to such IDR Reset Common Units issued pursuant to Section 5.10 equaling the product of (1) the Aggregate Quantity of IDR Reset Common Units and (2) the Per Unit Capital Amount for an Initial Common Unit.

Appears in 1 contract

Samples: Registration Rights Agreement (Phillips 66 Partners Lp)

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