Common use of Payment of Transaction Expenses and Contribution of Proceeds by the Partnership Clause in Contracts

Payment of Transaction Expenses and Contribution of Proceeds by the Partnership. The Parties acknowledge (a) the payment by the Partnership, in connection with the Closing, of transaction expenses in the amount of approximately $4.9 million, excluding underwriting discounts of $22,836,000.00 in the aggregate but including a structuring fee of 0.375% of the gross proceeds of the Offering payable to certain of the Underwriters (the “Structuring Fee”), (b) the distribution and payment of $149,144,119.22 to MPLX Logistics Holdings LLC as a reimbursement of qualified capital expenditures, and (c) the contribution by the Partnership of $201,600,000.00 to the Operating Company, of which $10,000,000.00 is to be used by the Operating Company for working capital purposes.

Appears in 3 contracts

Samples: Contribution, Conveyance and Assumption Agreement, Contribution, Conveyance and Assumption Agreement (Marathon Petroleum Corp), Contribution, Conveyance and Assumption Agreement (MPLX Lp)

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Payment of Transaction Expenses and Contribution of Proceeds by the Partnership. The Parties acknowledge (a) the payment by the Partnership, in connection with the Closing, of transaction expenses in the amount of approximately $4.9 [•] million, excluding underwriting discounts of $22,836,000.00 [•] in the aggregate but including a structuring fee of 0.375% [•]% of the gross proceeds of the Offering payable to certain of the Underwriters (the “Structuring Fee”), (b) the distribution and payment of approximately $149,144,119.22 [•] million to MPLX Logistics Holdings LLC LLC, in part as a reimbursement of qualified capital expenditures, and (c) the contribution by the Partnership of approximately $201,600,000.00 201.6 million to the Operating Company, of which $10,000,000.00 10.0 million is to be used by the Operating Company for working capital purposes.

Appears in 2 contracts

Samples: Contribution, Conveyance and Assumption Agreement, Contribution, Conveyance and Assumption Agreement (MPLX Lp)

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Payment of Transaction Expenses and Contribution of Proceeds by the Partnership. The Parties acknowledge (a) the payment by the Partnership, in connection with the Closing, of transaction expenses in the amount of approximately $4.9 2,800,000 million, excluding underwriting discounts of $22,836,000.00 19,700,000 in the aggregate but including a structuring fee of 0.3750.50% of the gross proceeds of the Offering payable to certain two of the Underwriters (the “Structuring Fee”), (b) the distribution of approximately $110,850,000 to WRSW and payment of $149,144,119.22 134,550,000 to MPLX Logistics Holdings LLC as a WRCLP, potentially in whole or in part for reimbursement of qualified pre-formation capital expenditures, and (c) the contribution by retention of the Partnership of approximately $201,600,000.00 to 75 million in net proceeds from the Operating Company, of which $10,000,000.00 is Offering to be used by the Operating Company for working capital general partnership purposes.

Appears in 2 contracts

Samples: Contribution, Conveyance and Assumption Agreement, Contribution, Conveyance and Assumption Agreement (Western Refining Logistics, LP)

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