Common use of Requirement and Characterization of Distributions; Distributions to Record Holders Clause in Contracts

Requirement and Characterization of Distributions; Distributions to Record Holders. (a) Within 45 days following the end of each Quarter, an amount equal to 100% of Available Cash with respect to such Quarter shall, subject to Section 51 of the Xxxxxxxx Islands Act, be distributed in accordance with this Article VI by the Partnership to the Partners as of the Record Date selected by the Board of Directors, except the holders of Class B Units shall not be entitled to distributions of Available Cash with respect to such Class B Units prior to the conversion of such Class B Units into Common Units pursuant Section 5.9(c). Notwithstanding any provision to the contrary contained in this Agreement, the Partnership shall not make a distribution to any Partner on account of its interest in the Partnership if such distribution would violate the Xxxxxxxx Islands Act or any other applicable law. This Section 6.2(a) shall not apply to Preference Units. (b) Notwithstanding the first sentence of Section 6.2(a), in the event of the dissolution and liquidation of the Partnership, all receipts received during or after the Quarter in which the Liquidation Date occurs, other than from borrowings described in (a)(ii) of the definition of Available Cash, shall be applied and distributed solely in accordance with, and subject to the terms and conditions of, Section 12.4. (c) Each distribution in respect of a Partnership Interest shall be paid by the Partnership, directly or through the Transfer Agent or through any other Person or agent, only to the Record Holder of such Partnership Interest as of the Record Date set for such distribution. Such payment shall constitute full payment and satisfaction of the Partnership’s liability in respect of such payment, regardless of any claim of any Person who may have an interest in such payment by reason of an assignment or otherwise.

Requirement and Characterization of Distributions; Distributions to Record Holders. (a) Within 45 days following the end of each Quarter, an amount equal to 100% of Available Cash with respect to such Quarter shall, subject to Section 51 of the Xxxxxxxx Islands Act, be distributed in accordance with this Article VI by the Partnership to the Partners as of the Record Date selected by the Board of Directors, except the holders of Class B Units shall not be entitled to distributions . All amounts of Available Cash with respect distributed by the Partnership on any date following the Closing Date from any source shall be deemed to such Class B Units prior be Operating Surplus until the sum of all amounts of Available Cash theretofore distributed by the Partnership to the conversion Partners following the Closing Date pursuant to Section 6.2 equals the Operating Surplus from the Closing Date through the close of the immediately preceding Quarter. Any remaining amounts of Available Cash distributed by the Partnership on such Class B Units into Common Units pursuant date shall, except as otherwise provided in Section 5.9(c). 6.3, be deemed to be “Capital Surplus.” Notwithstanding any provision to the contrary contained in this Agreement, the Partnership shall not make a distribution to any Partner on account of its interest in the Partnership if such distribution would violate the Xxxxxxxx Islands Act or any other applicable law. This Section 6.2(a) shall not apply to Preference Units. (b) Notwithstanding the first sentence three sentences of Section 6.2(a6.1(a), in the event of the dissolution and liquidation of the Partnership, all receipts received during or after the Quarter in which the Liquidation Date occurs, other than from borrowings described in (a)(ii) of the definition of Available Cash, shall be applied and distributed solely in accordance with, and subject to the terms and conditions of, Section 12.4. (c) Each distribution in respect of a Partnership Interest shall be paid by the Partnership, directly or through the Transfer Agent or through any other Person or agent, only to the Record Holder of such Partnership Interest as of the Record Date set for such distribution. Such payment shall constitute full payment and satisfaction of the Partnership’s liability in respect of such payment, regardless of any claim of any Person who may have an interest in such payment by reason of an assignment or otherwise.

Requirement and Characterization of Distributions; Distributions to Record Holders. (a) Within 45 Subject to Section 5.14(b)(i), within 60 days following the end of each Quarter, an amount equal to 100% of Available Cash with respect to such Quarter shall, subject to Section 51 of the Xxxxxxxx Islands Act, shall be distributed in accordance with this Article VI VI, by the Partnership Pro Rata to the Limited Partners as of the Record Date selected by the Board of Directors, except the holders of Class B Units shall not be entitled to distributions of Available Cash with respect to such Class B Units prior to the conversion of such Class B Units into Common Units pursuant Section 5.9(c)General Partner. Notwithstanding any provision to the contrary contained in this Agreement, the Partnership shall not make a distribution to any Partner on account of its interest in the Partnership if such distribution would violate the Xxxxxxxx Islands Delaware Act or any other applicable law. This Section 6.2(a) All distributions required to be made under this Agreement shall be made subject to Sections 17-607 and 17-804 of the Delaware Act and other applicable law, notwithstanding any other provision of this Agreement. For the avoidance of doubt, the Series A Preferred Units and the General Partner Interest shall not apply be entitled to Preference Unitsdistributions made pursuant to this Section 6.3(a). (b) Notwithstanding Section 6.3(a) (but subject to the first last sentence of Section 6.2(a6.3(a)), in the event of the dissolution and liquidation of the Partnership, all receipts cash received during or after the Quarter in which the Liquidation Date occurs, other than from borrowings described in (a)(ii) of the definition of Available Cash, occurs shall be applied and distributed solely in accordance with, and subject to the terms and conditions of, Section 12.4. (c) Each distribution in respect of a Partnership Interest shall be paid by the Partnership, directly or through the Transfer Agent or through any other Person or agent, only to the Record Holder of such Partnership Interest as of the Record Date set for such distribution. Such payment shall constitute full payment and satisfaction of the Partnership’s liability in respect of such payment, regardless of any claim of any Person who may have an interest in such payment by reason of an assignment or otherwise.

Requirement and Characterization of Distributions; Distributions to Record Holders. (a) Within 45 Subject, in all instances, to the operation of Section 5.10(b), within 60 days following the end of each QuarterQuarter commencing with the Quarter ending on December 31, 2002, an amount equal to 100% of Available Cash with respect to such Quarter shall, subject to Section 51 17-607 of the Xxxxxxxx Islands Delaware Act, be distributed in accordance with this Article VI by the Partnership to the Partners Partners, Pro Rata, as of the Record Date selected by the Board General Partner in its reasonable discretion. All distributions required to be made under this Agreement shall be made subject to Section 17-607 of Directors, except the holders of Class B Units shall not be entitled to distributions of Available Cash with respect to such Class B Units prior to the conversion of such Class B Units into Common Units pursuant Section 5.9(c). Notwithstanding any provision to the contrary contained in this Agreement, the Partnership shall not make a distribution to any Partner on account of its interest in the Partnership if such distribution would violate the Xxxxxxxx Islands Act or any other applicable law. This Section 6.2(a) shall not apply to Preference UnitsDelaware Act. (b) Notwithstanding the first sentence of Section 6.2(a6.3(a), in the event of the dissolution and liquidation of the Partnership, all receipts received during or after the Quarter in which the Liquidation Date occurs, other than from borrowings described in (a)(ii) of the definition of Available Cash, shall be applied and distributed solely in accordance with, and subject to the terms and conditions of, Section 12.4. (c) In the event of the dissolution and liquidation of the Partnership, all receipts received during or after the Quarter in which the Liquidation Date occurs shall be applied and distributed solely in accordance with, and subject to the terms and conditions of, Section 12.4. (d) The General Partner shall have the discretion to treat taxes paid by the Partnership on behalf of, or amounts withheld with respect to, all or less than all of the Partners, as a distribution of Available Cash to such Partners. (e) Each distribution in respect of a Partnership Interest shall be paid by the Partnership, directly or through the Transfer Agent or through any other Person or agent, only to the Record Holder of such Partnership Interest as of the Record Date set for such distribution. Such payment shall constitute full payment and satisfaction of the Partnership’s liability in respect of such payment, regardless of any claim of any Person who may have an interest in such payment by reason of an assignment or otherwise.

Requirement and Characterization of Distributions; Distributions to Record Holders. (a) Within 45 days following the end of each QuarterQuarter commencing with the Quarter ending on September 30, 1998, an amount equal to 100% of Available Cash (whether from Operating Surplus or Capital Surplus) with respect to such Quarter shall, subject to Section 51 17-607 of the Xxxxxxxx Islands ActDelaware Act and any terms applicable to a Partner under the Distribution Waiver Agreement, be distributed in accordance with this Article VI by the Partnership to the Partners in accordance with their Percentage Interest as of the Record Date selected by the Board General Partner in its reasonable discretion. All distributions required to be made under this Agreement shall be made subject to Section 17-607 of Directors, except the holders of Class B Units shall not be entitled to distributions of Available Cash with respect to such Class B Units prior to the conversion of such Class B Units into Common Units pursuant Section 5.9(c). Notwithstanding any provision to the contrary contained in this Agreement, the Partnership shall not make a distribution to any Partner on account of its interest in the Partnership if such distribution would violate the Xxxxxxxx Islands Act or any other applicable law. This Section 6.2(a) shall not apply to Preference UnitsDelaware Act. (b) Notwithstanding the first sentence of Section 6.2(a6.3(a), in the event of the dissolution and liquidation of the Partnership, all receipts received during or after the Quarter in which the Liquidation Date occurs, other than from borrowings described in (a)(iia)(ii)(A) of the definition of Available Cash, shall be applied and distributed solely in accordance with, and subject to the terms and conditions of, Section 12.4. (c) The General Partner shall have the discretion to treat taxes paid by the Partnership on behalf of, or amounts withheld with respect to, all or less than all of the Partners, as a distribution of Available Cash to such Partners. (d) Each distribution in respect of a Partnership Interest shall be paid by the Partnership, directly or through the Transfer Agent or through any other Person or agent, only to the Record Holder of such Partnership Interest as of the Record Date set for such distribution. Such payment shall constitute full payment and satisfaction of the Partnership’s liability in respect of such payment, regardless of any claim of any Person who may have an interest in such payment by reason of an assignment or otherwise.

Requirement and Characterization of Distributions; Distributions to Record Holders. ‌ (a) Within 45 days following the end of each QuarterQuarter commencing with the Quarter ending on September 30, 1998, an amount equal to 100% of Available Cash (whether from Operating Surplus or Capital Surplus) with respect to such Quarter shall, subject to Section 51 17-607 of the Xxxxxxxx Islands ActDelaware Act and any terms in this Agreement in respect of Series A Preferred Units, be distributed in accordance with this Article ARTICLE VI by the Partnership to the Partners in accordance with their Percentage Interest as of the Record Date selected by the Board General Partner in its reasonable discretion. All distributions required to be made under this Agreement shall be made subject to Section 17-607 of Directors, except the holders of Class B Units shall not be entitled to distributions of Available Cash with respect to such Class B Units prior to the conversion of such Class B Units into Common Units pursuant Section 5.9(c). Notwithstanding any provision to the contrary contained in this Agreement, the Partnership shall not make a distribution to any Partner on account of its interest in the Partnership if such distribution would violate the Xxxxxxxx Islands Act or any other applicable lawDelaware Act. This Section 6.2(a6.3(a) (except for the second to the last sentence of this Section 6.3(a)) shall not apply to Preference Units.distributions paid with respect to the Series A Preferred Units.‌ (b) Notwithstanding the first sentence of Section 6.2(a6.3(a), in the event of the dissolution and liquidation of the Partnership, all receipts received during or after the Quarter in which the Liquidation Date occurs, other than from borrowings described in (a)(iia)(ii)(A) of the definition of Available Cash, shall be applied and distributed solely in accordance with, and subject to the terms and conditions of, Section 12.4. (c) The General Partner shall have the discretion to treat taxes paid by the Partnership on behalf of, or amounts withheld with respect to, all or less than all of the Partners, as a distribution of Available Cash to such Partners. (d) Each distribution in respect of a Partnership Interest shall be paid by the Partnership, directly or through the Transfer Agent or through any other Person or agent, only to the Record Holder of such Partnership Interest as of the Record Date set for such distribution. Such payment shall constitute full payment and satisfaction of the Partnership’s liability in respect of such payment, regardless of any claim of any Person who may have an interest in such payment by reason of an assignment or otherwise. (e) All OTA Available Cash shall be distributed by the Partnership to the Partners (other than OTA) in accordance with their Percentage Interests.

Requirement and Characterization of Distributions; Distributions to Record Holders. (a) Within Except as otherwise required by Section 5.12(c)(i), within 45 days following the end of each Quarter, an amount equal to 100% of Available Cash with respect to such Quarter shall, subject to Section 51 of the Xxxxxxxx Islands Act, shall be distributed in accordance with this Article VI by the Partnership to the Partners as of the Record Date selected by the Board General Partner. All amounts of DirectorsAvailable Cash distributed by the Partnership on any date from any source shall be deemed to be Operating Surplus until the sum of all amounts of Available Cash theretofore distributed by the Partnership to the Partners pursuant to Section 6.4 equals the Operating Surplus from the Closing Date through the close of the immediately preceding Quarter. Any remaining amounts of Available Cash distributed by the Partnership on such date shall, except as otherwise provided in Section 6.5, be deemed to be “Capital Surplus.” All distributions required to be made under this Agreement shall be made subject to Sections 17-607 and 17-804 of the holders Delaware Act and other applicable law, notwithstanding any other provision of Class B this Agreement. For the avoidance of doubt, the Series A Preferred Units shall not be entitled to distributions of Available Cash with respect made pursuant to such Class B Units prior to the conversion of such Class B Units into Common Units pursuant this Section 5.9(c6.3(a). Notwithstanding any provision to the contrary contained in this Agreement, the Partnership shall not make a distribution to any Partner on account of its interest in the Partnership if such distribution would violate the Xxxxxxxx Islands Act or any other applicable law. This Section 6.2(a) shall not apply to Preference Units. (b) Notwithstanding Section 6.3(a) (but subject to the first last sentence of Section 6.2(a6.3(a)), in the event of the dissolution and liquidation of the Partnership, all receipts cash received during or after the Quarter in which the Liquidation Date occurs, other than from borrowings described in (a)(ii) of the definition of Available Cash, occurs shall be applied and distributed solely in accordance with, and subject to the terms and conditions of, Section 12.4. (c) The General Partner may treat taxes paid by the Partnership on behalf of, or amounts withheld with respect to, all or less than all of the Partners, as a distribution of Available Cash to such Partners, as determined appropriate under the circumstances by the General Partner. (d) Each distribution in respect of a Partnership Interest shall be paid by the Partnership, directly or through the Transfer Agent or through any other Person or agent, only to the Record Holder of such Partnership Interest as of the Record Date set for such distribution. Such payment shall constitute full payment and satisfaction of the Partnership’s liability in respect of such payment, regardless of any claim of any Person who may have an interest in such payment by reason of an assignment or otherwise.

Requirement and Characterization of Distributions; Distributions to Record Holders. (a) Within 45 days following the end of each Quarter, an amount equal to 100% of Available Cash with respect to such Quarter shall, subject to Section 51 of the Xxxxxxxx Islands Act, shall be distributed in accordance with Section 5.12 and this Article VI by the Partnership to the Partners Partners, Pro Rata, as of the Record Date selected by the Board of Directors, except the holders of Class B Units shall not be entitled to distributions of Available Cash with respect to such Class B Units prior to the conversion of such Class B Units into Common Units pursuant Section 5.9(c)General Partner. Notwithstanding any provision to the contrary contained in this Agreement, the Partnership shall not make a distribution to any Partner on account of its interest in the Partnership if such distribution would violate the Xxxxxxxx Islands Delaware Act or any other applicable law. This Section 6.2(a) Notwithstanding any other provision of this Agreement, all distributions required to be made under this Agreement shall be made subject to Sections 17-607 and 17-804 of the Delaware Act. For the avoidance of doubt, the General Partner Units shall not apply be entitled to Preference Unitsdistributions made pursuant to this Section 6.3(a). (b) Notwithstanding the first sentence of Section 6.2(a6.3(a), in the event of the dissolution and liquidation of the Partnership, all receipts cash received during or after the Quarter in which the Liquidation Date occurs, other than from borrowings described in (a)(ii) of the definition of Available Cash, occurs shall be applied and distributed solely in accordance with, and subject to the terms and conditions of, Section 12.4. (c) The General Partner may treat taxes paid by the Partnership on behalf of, or amounts withheld with respect to, all or less than all of the Partners, as a distribution of Available Cash to such Partners, as determined appropriate under the circumstances by the General Partner. (d) Each distribution in respect of a Partnership Interest shall be paid by the Partnership, directly or through the Transfer Agent or through any other Person or agent, only to the Record Holder of such Partnership Interest as of the Record Date set for such distribution. Such payment shall constitute full payment and satisfaction of the Partnership’s liability in respect of such payment, regardless of any claim of any Person who may have an interest in such payment by reason of an assignment or otherwise.

Requirement and Characterization of Distributions; Distributions to Record Holders. (a) Within 45 days following the end of each QuarterQuarter commencing with the Quarter ending on March 31, 2013, an amount equal to 100% of Available Cash with respect to such Quarter shall, subject to Section 51 of the Xxxxxxxx Islands Act, shall be distributed in accordance with this Article VI by the Partnership to the Partners as of the Record Date selected by the Board General Partner. The Record Date for the first distribution of Directors, except the holders of Class B Units Available Cash shall not be entitled prior to distributions the final closing of the Over-Allotment Option. All amounts of Available Cash with respect distributed by the Partnership on any date from any source shall be deemed to such Class B Units prior be Operating Surplus until the sum of all amounts of Available Cash theretofore distributed by the Partnership to the conversion Partners pursuant to Section 6.4 equals the Operating Surplus from the Closing Date through the close of the immediately preceding Quarter. Any remaining amounts of Available Cash distributed by the Partnership on such Class B Units into Common Units pursuant date shall, except as otherwise provided in Section 5.9(c). 6.5, be deemed to be “Capital Surplus.” Notwithstanding any provision to the contrary contained in this Agreement, all distributions required to be made under this Agreement shall be made subject to Sections 17-607 and 17-804 of the Partnership shall not make a distribution to any Partner on account of its interest in the Partnership if such distribution would violate the Xxxxxxxx Islands Delaware Act or and any other applicable law. This Section 6.2(a) shall not apply to Preference Units. (b) Notwithstanding the first sentence of Section 6.2(a6.3(a), in the event of the dissolution and liquidation of the Partnership, all receipts cash received during or after the Quarter in which the Liquidation Date occurs, other than from borrowings described in (a)(ii) of the definition of Available CashWorking Capital Borrowings, shall be applied and distributed solely in accordance with, and subject to the terms and conditions of, Section 12.4. (c) Each distribution in respect of a Partnership Interest shall be paid by the Partnership, directly or through the any Transfer Agent or through any other Person or agent, only to the Record Holder of such Partnership Interest as of the Record Date set for such distribution. Such payment shall constitute full payment and satisfaction of the Partnership’s liability in respect of such payment, regardless of any claim of any Person who may have an interest in such payment by reason of an assignment or otherwise.

Requirement and Characterization of Distributions; Distributions to Record Holders. (a) Within 45 days following the end of each QuarterQuarter commencing with the Quarter ending on September 30, 1998, an amount equal to 100% of Available Cash (whether from Operating Surplus or Capital Surplus) with respect to such Quarter shall, subject to Section 51 17-607 of the Xxxxxxxx Islands ActDelaware Act and any terms in this Agreement in respect of Series A Preferred Units, be distributed in accordance with this Article ARTICLE VI by the Partnership to the Partners in accordance with their Percentage Interest as of the Record Date selected by the Board General Partner in its reasonable discretion. All distributions required to be made under this Agreement shall be made subject to Section 17-607 of Directors, except the holders of Class B Units shall not be entitled to distributions of Available Cash with respect to such Class B Units prior to the conversion of such Class B Units into Common Units pursuant Section 5.9(c). Notwithstanding any provision to the contrary contained in this Agreement, the Partnership shall not make a distribution to any Partner on account of its interest in the Partnership if such distribution would violate the Xxxxxxxx Islands Act or any other applicable lawDelaware Act. This Section 6.2(a6.3(a) (except for the second to the last sentence of this Section 6.3(a)) shall not apply to Preference distributions paid with respect to the Series A Preferred Units. (b) Notwithstanding the first sentence of Section 6.2(a6.3(a), in the event of the dissolution and liquidation of the Partnership, all receipts received during or after the Quarter in which the Liquidation Date occurs, other than from borrowings described in (a)(iia)(ii)(A) of the definition of Available Cash, shall be applied and distributed solely in accordance with, and subject to the terms and conditions of, Section 12.4. (c) The General Partner shall have the discretion to treat taxes paid by the Partnership on behalf of, or amounts withheld with respect to, all or less than all of the Partners, as a distribution of Available Cash to such Partners. (d) Each distribution in respect of a Partnership Interest shall be paid by the Partnership, directly or through the Transfer Agent or through any other Person or agent, only to the Record Holder of such Partnership Interest as of the Record Date set for such distribution. Such payment shall constitute full payment and satisfaction of the Partnership’s liability in respect of such payment, regardless of any claim of any Person who may have an interest in such payment by reason of an assignment or otherwise. (e) All OTA Available Cash shall be distributed by the Partnership to the Partners (other than OTA) in accordance with their Percentage Interests.

Requirement and Characterization of Distributions; Distributions to Record Holders. (a) Within 45 days following the end of each Quarter, an amount equal to 100% of Available Cash with respect to such Quarter shall, subject to Section 51 17-607 of the Xxxxxxxx Islands Delaware Act, be distributed in accordance with this Article VI by the Partnership to the Partners as of the Record Date selected by the Board of DirectorsGeneral Partner. All Available Cash shall be distributed to all Unitholders, Pro Rata, except as otherwise required by Section 5.10(b)(iii), Section 5.11(b)(ii), Section 5.12(b)(ii), Section 5.13(b)(ii), Section 5.14(b)(ii) or Section 5.5(b) in respect of additional Partnership Securities issued pursuant thereto. For the holders avoidance of Class B Units shall doubt, the General Partner Interest will not be entitled to any distributions made pursuant to this Article VI. All distributions required to be made under this Agreement shall be made subject to Section 17-607 of Available Cash with respect to such Class B Units prior to the conversion of such Class B Units into Common Units pursuant Section 5.9(c). Notwithstanding any provision to the contrary contained in this Agreement, the Partnership shall not make a distribution to any Partner on account of its interest in the Partnership if such distribution would violate the Xxxxxxxx Islands Act or any other applicable law. This Section 6.2(a) shall not apply to Preference UnitsDelaware Act. (b) Notwithstanding the first sentence of Section 6.2(a), in In the event of the dissolution and liquidation of the Partnership, all receipts received during or after the Quarter in which the Liquidation Date occurs, other than from borrowings described in (a)(ii) of the definition of Available Cash, shall be applied and distributed solely in accordance with, and subject to the terms and conditions of, Section 12.4. (c) The General Partner may treat taxes paid by the Partnership on behalf of, or amounts withheld with respect to, all or less than all of the Partners, as a distribution of Available Cash to such Partners. (d) Each distribution in respect of a Partnership Interest shall be paid by the Partnership, directly or through the Transfer Agent or through any other Person or agent, only to the Record Holder of such Partnership Interest as of the Record Date set for such distribution. Such payment shall constitute full payment and satisfaction of the Partnership’s liability in respect of such payment, regardless of any claim of any Person who may have an interest in such payment by reason of an assignment or otherwise (e) Distributions to Class E Unitholders shall be made as follows: (i) For each taxable year, no portion of any Partnership cash distributions that are ETP Holdco Distributions shall be distributed to the Class E Units. (ii) The Class E Units shall be entitled to receive the Class E Percentage of the portion of any Partnership distributions (other than ETP Holdco Distributions) to be made to the Unitholders pursuant to this Article VI and the remaining portion of the Available Cash to be distributed shall be made to the Unitholders (other than the holders of Class E or Class G Units) in proportion to their relative Percentage Interests; provided, that the aggregate Partnership distributions made pursuant to this Article VI to each Class E Unit in respect of each fiscal year shall not exceed $1.41 (which may, at the General Partner’s discretion, be split equally among the four Quarters of each fiscal year).

Requirement and Characterization of Distributions; Distributions to Record Holders. (a) Within 45 days following the end of each Quarter, an amount equal to 100% of Available Cash with respect to such Quarter shall, subject to Section 51 17-607 of the Xxxxxxxx Islands Delaware Act, be distributed in accordance with this Article VI by the Partnership to the Partners as of the Record Date selected by the Board of Directors, except the holders of Class B Units shall not be entitled to distributions General Partner. All amounts of Available Cash with respect distributed by the Partnership on any date from any source shall be deemed to such Class B Units prior be Operating Surplus until the sum of all amounts of Available Cash theretofore distributed by the Partnership to the conversion Partners pursuant to Section 6.4 equals the Operating Surplus from the Closing Date through the close of such Class B Units into Common Units pursuant Section 5.9(c)the immediately preceding Quarter. Notwithstanding any provision to the contrary contained in this Agreement, Any remaining amounts of Available Cash distributed by the Partnership on such date shall, except as otherwise provided in Section 6.5, be deemed to be "Capital Surplus." All distributions required to be made under this Agreement shall not make a distribution be made subject to any Partner on account Section 17-607 of its interest in the Partnership if such distribution would violate the Xxxxxxxx Islands Act or any other applicable law. This Section 6.2(a) shall not apply to Preference UnitsDelaware Act. (b) Notwithstanding the first sentence of Section 6.2(a6.3(a), in the event of the dissolution and liquidation of the Partnership, all receipts received during or after the Quarter in which the Liquidation Date occurs, other than from borrowings described in (a)(ii) of the definition of Available Cash, shall be applied and distributed solely in accordance with, and subject to the terms and conditions of, Section 12.4. (c) The General Partner shall have the discretion to treat taxes paid by the Partnership on behalf of, or amounts withheld with respect to, all or less than all of the Partners, as a distribution of Available Cash to such Partners. (d) Each distribution in respect of a Partnership Interest shall be paid by the Partnership, directly or through the Transfer Agent or through any other Person or agent, only to the Record Holder of such Partnership Interest as of the Record Date set for such distribution. Such payment shall constitute full payment and satisfaction of the Partnership’s 's liability in respect of such payment, regardless of any claim of any Person who may have an interest in such payment by reason of an assignment or otherwise.

Requirement and Characterization of Distributions; Distributions to Record Holders. (a) Within Except as otherwise required by Section 5.14(b)(ii) or Section 5.15(b)(ii), within 45 days following the end of each QuarterQuarter commencing with the Quarter ending on December 31, 2005, an amount equal to 100% of Available Cash with respect to such Quarter shall, subject to Section 51 17-607 of the Xxxxxxxx Islands Delaware Act, be distributed in accordance with this Article VI by the Partnership to the Partners as of the Record Date selected by the Board General Partner. All amounts of DirectorsAvailable Cash distributed by the Partnership on any date from any source shall be deemed to be Operating Surplus until the sum of all amounts of Available Cash theretofore distributed by the Partnership to the Partners pursuant to Section 6.4 equals the Operating Surplus from the Closing Date through the close of the immediately preceding Quarter. Any remaining amounts of Available Cash distributed by the Partnership on such date shall, except as otherwise provided in Section 6.5, be deemed to be “Capital Surplus.” All distributions required to be made under this Agreement shall be made subject to Section 17-607 of the holders Delaware Act. For the avoidance of Class doubt, neither the Series A Preferred Units nor the Series B Preferred Units shall not be entitled to distributions of Available Cash with respect made pursuant to such Class B Units prior to the conversion of such Class B Units into Common Units pursuant this Section 5.9(c6.3(a). Notwithstanding any provision to the contrary contained in this Agreement, the Partnership shall not make a distribution to any Partner on account of its interest in the Partnership if such distribution would violate the Xxxxxxxx Islands Act or any other applicable law. This Section 6.2(a) shall not apply to Preference Units. (b) Notwithstanding the first sentence of Section 6.2(a6.3(a), in the event of the dissolution and liquidation of the Partnership, all receipts received during or after the Quarter in which the Liquidation Date occurs, other than from borrowings described in (a)(ii) of the definition of Available Cash, occurs shall be applied and distributed solely in accordance with, and subject to the terms and conditions of, Section 12.4. (c) The General Partner may treat taxes paid by the Partnership on behalf of, or amounts withheld with respect to, all or less than all of the Partners, as a distribution of Available Cash to such Partners. (d) Each distribution in respect of a Partnership Interest shall be paid by the Partnership, directly or through the Transfer Agent or through any other Person or agent, only to the Record Holder of such Partnership Interest as of the Record Date set for such distribution. Such payment shall constitute full payment and satisfaction of the Partnership’s liability in respect of such payment, regardless of any claim of any Person who may have an interest in such payment by reason of an assignment or otherwise.

Requirement and Characterization of Distributions; Distributions to Record Holders. ‌ (a) Within Except as otherwise required by Section 5.14(b)(ii) or Section 5.15(b)(ii), within 45 days following the end of each QuarterQuarter commencing with the Quarter ending on December 31, 2005, an amount equal to 100% of Available Cash with respect to such Quarter shall, subject to Section 51 17-607 of the Xxxxxxxx Islands Delaware Act, be distributed in accordance with this Article VI by the Partnership to the Partners as of the Record Date selected by the Board General Partner. All amounts of DirectorsAvailable Cash distributed by the Partnership on any date from any source shall be deemed to be Operating Surplus until the sum of all amounts of Available Cash theretofore distributed by the Partnership to the Partners pursuant to Section 6.4 equals the Operating Surplus from the Closing Date through the close of the immediately preceding Quarter. Any remaining amounts of Available Cash distributed by the Partnership on such date shall, except as otherwise provided in Section 6.5, be deemed to be “Capital Surplus.” All distributions required to be made under this Agreement shall be made subject to Section 17-607 of the holders Delaware Act. For the avoidance of Class doubt, neither the Series A Preferred Units nor the Series B Preferred Units shall not be entitled to distributions of Available Cash with respect made pursuant to such Class B Units prior to the conversion of such Class B Units into Common Units pursuant this Section 5.9(c6.3(a). Notwithstanding any provision to the contrary contained in this Agreement, the Partnership shall not make a distribution to any Partner on account of its interest in the Partnership if such distribution would violate the Xxxxxxxx Islands Act or any other applicable law. This Section 6.2(a) shall not apply to Preference Units. (b) Notwithstanding the first sentence of Section 6.2(a6.3(a), in the event of the dissolution and liquidation of the Partnership, all receipts received during or after the Quarter in which the Liquidation Date occurs, other than from borrowings described in (a)(ii) of the definition of Available Cash, occurs shall be applied and distributed solely in accordance with, and subject to the terms and conditions of, Section 12.4. (c) The General Partner may treat taxes paid by the Partnership on behalf of, or amounts withheld with respect to, all or less than all of the Partners, as a distribution of Available Cash to such Partners. (d) Each distribution in respect of a Partnership Interest shall be paid by the Partnership, directly or through the Transfer Agent or through any other Person or agent, only to the Record Holder of such Partnership Interest as of the Record Date set for such distribution. Such payment shall constitute full payment and satisfaction of the Partnership’s liability in respect of such payment, regardless of any claim of any Person who may have an interest in such payment by reason of an assignment or otherwise.

Requirement and Characterization of Distributions; Distributions to Record Holders. ‌ (a) Within 45 days following the end of each Quarter, an amount equal to 100% of Available Cash with respect to such Quarter shall, subject to Section 51 17-607 of the Xxxxxxxx Islands Delaware Act, be distributed in accordance with this Article VI by the Partnership to the Partners as of the Record Date selected by the Board of DirectorsGeneral Partner. All Available Cash shall be distributed to all Unitholders, Pro Rata, except as otherwise required by Section 5.10(b)(iii), Section 5.11(b)(ii), Section 5.12(b)(ii), Section 5.13(b)(ii), Section 5.14(b)(ii) or Section 5.5(b) in respect of additional Partnership Securities issued pursuant thereto. For the holders avoidance of Class B Units shall doubt, the General Partner Interest will not be entitled to any distributions made pursuant to this Article VI. All distributions required to be made under this Agreement shall be made subject to Section 17-607 of Available Cash with respect to such Class B Units prior to the conversion of such Class B Units into Common Units pursuant Section 5.9(c). Notwithstanding any provision to the contrary contained in this Agreement, the Partnership shall not make a distribution to any Partner on account of its interest in the Partnership if such distribution would violate the Xxxxxxxx Islands Act or any other applicable law. This Section 6.2(a) shall not apply to Preference UnitsDelaware Act. (b) Notwithstanding the first sentence of Section 6.2(a), in In the event of the dissolution and liquidation of the Partnership, all receipts received during or after the Quarter in which the Liquidation Date occurs, other than from borrowings described in (a)(ii) of the definition of Available Cash, shall be applied and distributed solely in accordance with, and subject to the terms and conditions of, Section 12.4. (c) The General Partner may treat taxes paid by the Partnership on behalf of, or amounts withheld with respect to, all or less than all of the Partners, as a distribution of Available Cash to such Partners. (d) Each distribution in respect of a Partnership Interest shall be paid by the Partnership, directly or through the Transfer Agent or through any other Person or agent, only to the Record Holder of such Partnership Interest as of the Record Date set for such distribution. Such payment shall constitute full payment and satisfaction of the Partnership’s liability in respect of such payment, regardless of any claim of any Person who may have an interest in such payment by reason of an assignment or otherwise (e) Distributions to Class E Unitholders shall be made as follows:‌ (i) For each taxable year, no portion of any Partnership cash distributions that are ETP Holdco Distributions shall be distributed to the Class E Units. (ii) The Class E Units shall be entitled to receive the Class E Percentage of the portion of any Partnership distributions (other than ETP Holdco Distributions) to be made to the Unitholders pursuant to this Article VI and the remaining portion of the Available Cash to be distributed shall be made to the Unitholders (other than the holders of Class E or Class G Units) in proportion to their relative Percentage Interests; provided, that the aggregate Partnership distributions made pursuant to this Article VI to each Class E Unit in respect of each fiscal year shall not exceed $1.41 (which may, at the General Partner’s discretion, be split equally among the four Quarters of each fiscal year).‌