Common use of Issuance of Units in Connection with Reset of the Minimum Quarterly Distribution and Target Distributions Clause in Contracts

Issuance of Units in Connection with Reset of the Minimum Quarterly Distribution and Target Distributions. (a) Subject to the provisions of this Section 5.11, at any time when the Partnership (i) has made a distribution pursuant to Section 6.4(a)(iv) for four consecutive Quarters with respect to the Units for each such Quarter and (ii) the amount of all distributions during each Quarter within such period did not exceed the Adjusted Operating Surplus for such Quarter, the General Partner shall have the right to make an election (the “IDR Reset Election”) to cause the Minimum Quarterly Distribution and the Target Distributions to be reset in accordance with the provisions of Section 5.11(e) and, in connection therewith, each IDR Holder will be entitled to receive, subject to Section 5.6(d), a number of Units (the “IDR Reset Units”) derived by dividing (x) the average of the aggregate amount of cash distributions made by the Partnership for each of the two full Quarters immediately preceding the delivery by the General Partner of the Reset Notice (as defined in Section 5.11(b)) in respect of the Incentive Distribution Units held by such IDR Holder by (y) the average cash distribution per Unit made by the Partnership for each of the two full Quarters immediately preceding the giving of the Reset Notice (the total number of such Units determined by aggregating each such quotient of each such holder is referred to herein as the “Aggregate Quantity of IDR Reset Units”). The making of the IDR Reset Election in the manner specified in Section 5.11(b) shall cause the Minimum Quarterly Distribution and the Target Distributions to be reset in accordance with the provisions of Section 5.11(e) and, in connection therewith, each IDR Holder will be entitled to receive IDR Reset Units, without any further approval required by the General Partner or the Unitholders, at the time specified in Section 5.11(c) unless the IDR Reset Election is rescinded pursuant to Section 5.11(d). No fractional Units will be issued upon the conversion of Incentive Distribution Units. Instead, the Partnership shall pay the cash value of such fractional Units based on the Current Market Price (the date of determination of which shall be as of the date that is three Trading Days prior to the date IDR Reset Units are issued to such IDR Holder).

Issuance of Units in Connection with Reset of the Minimum Quarterly Distribution and Target Distributions. (a) Subject to the provisions of this Section 5.11, at any time when the Partnership (i) has made a distribution pursuant to Section 6.4(a)(iv) for four consecutive Quarters with respect to the Units for each such Quarter and (ii) the amount of all distributions during each Quarter within such period did not exceed the Adjusted Operating Surplus for such Quarter, the General Partner shall have the right to make an election (the “IDR Reset Election”) to cause the Minimum Quarterly Distribution and the Target Distributions to be reset in accordance with the provisions of Section 5.11(e) and, in connection therewith, each IDR Holder will be entitled to receive, subject to Section 5.6(d), a number of Units (the “IDR Reset Units”) derived by dividing (x) the average of the aggregate amount of cash distributions made by the Partnership for each of the two full Quarters immediately preceding the delivery by the General Partner of the Reset Notice (as defined in Section 5.11(b)) in respect of the Incentive Distribution Units held by such IDR Holder by (y) the average cash distribution per Unit made by the Partnership for each of the two full Quarters immediately preceding the giving of the Reset Notice (the total number of such Units determined by aggregating each such quotient of each such holder is referred to herein as the “Aggregate Quantity of IDR Reset Units”). The making of the IDR Reset Election in the manner specified in Section 5.11(b) shall cause the Minimum Quarterly Distribution and the Target Distributions to be reset in accordance with the provisions of Section 5.11(e) and, in connection therewith, each IDR Holder will be entitled to receive IDR Reset Units, without any further approval required by the General Partner or the Unitholders, at the time specified in Section 5.11(c) unless the IDR Reset Election is rescinded pursuant to Section 5.11(d). No fractional Units will be issued upon the conversion of Incentive Distribution Units. Instead, the Partnership shall pay the cash value of such fractional Units based on the Current Market Price (the date of determination of which shall be as of the date that is three Trading Days prior to the date IDR Reset Units are issued to such IDR Holder).in