Common use of Forbearance of Quarterly Distributions Clause in Contracts

Forbearance of Quarterly Distributions. (a) Seller acknowledges and agrees that holders of Consideration Units shall not be entitled to and hereby waives any right to and shall forbear from taking any Quarterly Distributions declared or made with respect to the Buyer’s fiscal quarter ending December 31, 2011 and paid in February 2012 and any other Buyer Fiscal Quarter ending prior to the Closing Date. (b) The General Partner, in its sole discretion, may amend the Buyer Partnership Agreement at any time to give effect to this Section 5.17.

Appears in 7 contracts

Samples: Contribution and Sale Agreement (NGL Energy Partners LP), Contribution and Sale Agreement (NGL Energy Partners LP), Contribution and Sale Agreement (NGL Energy Partners LP)

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Forbearance of Quarterly Distributions. (a) Each Seller acknowledges and agrees that holders of Consideration Units shall not be entitled to and hereby waives waive any right to and shall forbear from taking any Quarterly Distributions declared or made with respect to the Buyer’s fiscal quarter ending December 31, 2011 and paid in February 2012 and any other a Buyer Fiscal Quarter ending prior to the Closing Date. (b) The General Partner, in its sole discretion, may amend the Buyer Partnership Agreement at any time to give effect to this Section 5.175.20.

Appears in 1 contract

Samples: Contribution and Sale Agreement (NGL Energy Partners LP)

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