Common use of Liquidation of Investor Partnership Units Clause in Contracts

Liquidation of Investor Partnership Units. On the Effective Date, the Partnership shall liquidate all of the units of interest in the Partnership (each a “Unit” and collectively the “Units”) held by the Investors as of the Effective Date and each Unit held by an Investor shall automatically be converted into the right to receive $7,864 per Unit, plus the sum of amounts withheld from per Unit cash distributions by the Partnership from October 1, 2010 through August 31, 2011 for the Partnership’s well refracturing plan in the Codell formation, less the sum of the per Unit cash distributions made after August 31, 2011 and before the Closing Date, and subject to any adjustments made pursuant to Section 2.3 herein (the “Per Unit Price,” which shall be proportionally adjusted for partial Units). PDC shall deliver to each Investor the cash payment for such Investor’s liquidated Units within 30 days after completion of the Merger.

Liquidation of Investor Partnership Units. On the Effective Date, the Partnership shall liquidate all of the units of interest in the Partnership (each a “Unit” and collectively the “Units”) held by the Investors as of the Effective Date and each Unit held by an Investor shall automatically be converted into the right to receive $7,864 5,506 per Unit, plus the sum of amounts withheld from per Unit cash distributions by the Partnership from October 1, 2010 through August 31February 28, 2011 for the Partnership’s well refracturing plan in the Codell formation, less the sum of the per Unit cash distributions made after August 31February 28, 2011 and before the Closing Date, and subject to any adjustments made pursuant to Section 2.3 herein Date (the “Per Unit Price,” which shall be proportionally adjusted for partial Units). PDC shall deliver to each Investor the cash payment for such Investor’s liquidated Units within 30 days after completion of the Merger.

Liquidation of Investor Partnership Units. On the Effective Date, the Partnership shall liquidate all of the units of interest in the Partnership (each a “Unit” and collectively the “Units”) held by the Investors as of the Effective Date and each Unit held by an Investor shall automatically be converted into the right to receive $7,864 7,000 per Unit, plus the sum of amounts withheld from per Unit cash distributions by the Partnership from October 1, 2010 through August 31February 28, 2011 for the Partnership’s well refracturing plan in the Codell formation, less the sum of the per Unit cash distributions made after August 31February 28, 2011 and before the Closing Date, and subject to any adjustments made pursuant to Section 2.3 herein Date (the “Per Unit Price,” which shall be proportionally adjusted for partial Units). PDC shall deliver to each Investor the cash payment for such Investor’s liquidated Units within 30 days after completion of the Merger.

Liquidation of Investor Partnership Units. On the Effective Date, the Partnership shall liquidate all of the units of interest in the Partnership (each a “Unit” and collectively the “Units”) held by the Investors as of the Effective Date and each Unit held by an Investor shall automatically be converted into the right to receive $7,864 8,125 per Unit, plus the sum of amounts withheld from per Unit cash distributions by the Partnership from October 1, 2010 through August 31, 2011 for the Partnership’s well refracturing plan in the Codell formation, less the sum of the per Unit cash distributions made after August 31, 2011 and before the Closing Date, and subject to any adjustments made pursuant to Section 2.3 herein (the “Per Unit Price,” which shall be proportionally adjusted for partial Units). PDC shall deliver to each Investor the cash payment for such Investor’s liquidated Units within 30 days after completion of the Merger.

Liquidation of Investor Partnership Units. On the Effective Date, the Partnership shall liquidate all of the units of interest in the Partnership (each a “Unit” and collectively the “Units”) held by the Investors as of the Effective Date and each Unit held by an Investor shall automatically be converted into the right to receive $7,864 5,795 per Unit, plus the sum of amounts withheld from per Unit cash distributions by the Partnership from October 1, 2010 through August 31, 2011 for the Partnership’s well refracturing additional development plan in the Codell formation, less the sum of the per Unit cash distributions made after August 31, 2011 and before the Closing Date, and subject to any adjustments made pursuant to Section 2.3 herein (the “Per Unit Price,” which shall be proportionally adjusted for partial Units). PDC shall deliver to each Investor the cash payment for such Investor’s liquidated Units within 30 days after completion of the Merger.

Liquidation of Investor Partnership Units. On the Effective Date, the Partnership shall liquidate all of the units of interest in the Partnership (each a “Unit” and collectively the “Units”) held by the Investors as of the Effective Date and each Unit held by an Investor shall automatically be converted into the right to receive $7,864 4,024 per Unit, plus the sum of amounts withheld from per Unit cash distributions by the Partnership from October 1, 2010 through August 31, 2011 for the Partnership’s well refracturing additional development plan in the Codell formation, less the sum of the per Unit cash distributions made after August 31, 2011 and before the Closing Date, and subject to any adjustments made pursuant to Section 2.3 herein (the “Per Unit Price,” which shall be proportionally adjusted for partial Units). PDC shall deliver to each Investor the cash payment for such Investor’s liquidated Units within 30 days after completion of the Merger.

Liquidation of Investor Partnership Units. On the Effective Date, the Partnership shall liquidate all of the units of interest in the Partnership (each a “Unit” and collectively the “Units”) held by the Investors as of the Effective Date and each Unit held by an Investor shall automatically be converted into the right to receive $7,864 6,603 per Unit, plus the sum of amounts withheld from per Unit cash distributions by the Partnership from October 1, 2010 through August 31February 28, 2011 for the Partnership’s well refracturing plan in the Codell formation, less the sum of the per Unit cash distributions made after August 31February 28, 2011 and before the Closing Date, and subject to any adjustments made pursuant to Section 2.3 herein Date (the “Per Unit Price,” which shall be proportionally adjusted for partial Units). PDC shall deliver to each Investor the cash payment for such Investor’s liquidated Units within 30 days after completion of the Merger.

Liquidation of Investor Partnership Units. On the Effective Date, the Partnership shall liquidate all of the units of interest in the Partnership (each a “Unit” and collectively the “Units”) held by the Investors as of the Effective Date and each Unit held by an Investor shall automatically be converted into the right to receive $7,864 5,603 per Unit, plus the sum of amounts withheld from per Unit cash distributions by the Partnership from October 1, 2010 through August 31, 2011 for the Partnership’s well refracturing additional development plan in the Codell formation, less the sum of the per Unit cash distributions made after August 31, 2011 and before the Closing Date, and subject to any adjustments made pursuant to Section 2.3 herein (the “Per Unit Price,” which shall be proportionally adjusted for partial Units). PDC shall deliver to each Investor the cash payment for such Investor’s liquidated Units within 30 days after completion of the Merger.