Receipt of Fee Title. Notwithstanding the provisions of Section 14, if at any time the Partnership receives fee title to the Lake Xxxxxxx Facility, then (i) Section 14 shall be of no further force or effect, (ii) Lyondell (Pelican) LP1's Capital Account shall be the same per Unit as the Capital Accounts of the other Partners (determined without regard to the special allocations in Sections 4.1(a), 4.1(b) and 4.1(c)) and (iii) Sections 4.1(e) and 4.1(f) shall terminate.
Appears in 3 contracts
Samples: Millennium Chemicals Inc, Lyondell Chemical Co, Equistar Chemicals Lp
Receipt of Fee Title. Notwithstanding the provisions of Section 14, if at any time the Partnership receives fee title to the Lake Xxxxxxx Facility, then (i) Section 14 shall be of no further force or effect, (ii) Lyondell (Pelican) LP1's ’s Capital Account shall be the same per Unit as the Capital Accounts of the other Partners (determined without regard to the special allocations in Sections 4.1(a), 4.1(b) and 4.1(c)) and (iii) Sections 4.1(e) and 4.1(f) shall terminate.
Appears in 3 contracts
Samples: Lease Agreement (Equistar Chemicals Lp), Lease Agreement (Millennium Chemicals Inc), LyondellBasell F&F Holdco, LLC
Receipt of Fee Title. Notwithstanding the provisions of Section 14, if at any time the Partnership receives fee title to the Lake Xxxxxxx Cxxxxxx Facility, then (i) Section 14 shall be of no further force or effect, (ii) Lyondell (Pelican) LP1's ’s Capital Account shall be the same per Unit as the Capital Accounts of the other Partners (determined without regard to the special allocations in Sections 4.1(a), 4.1(b) and 4.1(c)) and (iii) Sections 4.1(e) and 4.1(f) shall terminate.
Appears in 2 contracts
Samples: Agreement (Equistar Chemicals Lp), Agreement (Millennium Chemicals Inc)
