Common use of Special Provisions Relating to the Holders of Incentive Distribution Rights Clause in Contracts

Special Provisions Relating to the Holders of Incentive Distribution Rights. (a) Notwithstanding anything to the contrary set forth in this Agreement, the holders of the Incentive Distribution Rights (i) shall (A) possess the rights and obligations provided in this Agreement with respect to a Limited Partner pursuant to Article III and Article VII and (B) have a Capital Account as a Partner pursuant to Section 5.5 and all other provisions related thereto and (ii) shall not (A) be entitled to vote on any matters requiring the approval or vote of the holders of Outstanding Units, except as provided by law or contemplated by Section 11.2, (B) be entitled to any distributions other than as provided in Section 6.4(b)(ii) and Section 12.4 or (C) be allocated items of income, gain, loss or deduction other than as specified in this Article VI.

Appears in 6 contracts

Samples: Contribution Agreement (Southcross Energy Partners, L.P.), Contribution Agreement (American Midstream Partners, LP), Contribution Agreement (Southcross Energy Partners, L.P.)

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Special Provisions Relating to the Holders of Incentive Distribution Rights. (a) Notwithstanding anything to the contrary set forth in this Agreement, the holders of the Incentive Distribution Rights (ia) shall (Ai) possess the rights and obligations provided in this Agreement with respect to a Limited Partner pursuant to Article III and Article VII and (Bii) have a Capital Account as a Partner pursuant to Section 5.5 and all other provisions related thereto and (iib) shall not (Ai) be entitled to vote on any matters requiring the approval or vote of the holders of Outstanding Units, except as provided by law or contemplated by Section 11.2law, (Bii) be entitled to any distributions other than as provided in Section 6.4(b)(iiSections 6.4(a)(iii), (iv) and (v), and Section 12.4 or (Ciii) be allocated items of income, gain, loss or deduction other than as specified in this Article VI.

Appears in 1 contract

Samples: Targa Resources Partners LP

Special Provisions Relating to the Holders of Incentive Distribution Rights. (a) Notwithstanding anything to the contrary set forth in this Agreement, the holders of the Incentive Distribution Rights (i) shall (A) possess the rights and obligations provided in this Agreement with respect to a Limited Partner pursuant to Article III and Article VII and (B) have a Capital Account as a Partner pursuant to Section 5.5 and all other provisions related thereto and (ii) shall not (A) be entitled to vote on any matters requiring the approval or vote of the holders of Outstanding Units, except as provided by law or contemplated by Section 11.2, (B) be entitled to any distributions other than as provided in Section 6.4(b)(ii6.4(b) and Section 12.4 or (C) be allocated items of income, gain, loss or deduction other than as specified in this Article VI.

Appears in 1 contract

Samples: American Midstream Partners, LP

Special Provisions Relating to the Holders of Incentive Distribution Rights. (a) Notwithstanding anything to the contrary set forth in this Agreement, the holders of the Incentive Distribution Rights (ia) shall (A) possess the rights and obligations provided in this Agreement with respect to a Limited Partner pursuant to Article Articles III and Article VII and (B) have a Capital Account as a Partner pursuant to Section 5.5 and all other provisions related thereto and (iib) shall not (Ai) be entitled to vote on any matters requiring the approval or vote of the holders of Outstanding Units, except as provided by law law, or contemplated by Section 11.2, (Bii) be entitled to any distributions other than as provided in Section 6.4(b)(iiSections 6.3(a)(v), (vi) and Section 12.4 or (Cvii), 6.3(b)(iii), (iv) be allocated items of incomeand (v), gain, loss or deduction other than as specified in this Article VIand 12.4.

Appears in 1 contract

Samples: Teekay Offshore Partners L.P.

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Special Provisions Relating to the Holders of Incentive Distribution Rights. (a) Notwithstanding anything to the contrary set forth in this Agreement, the holders of the Incentive Distribution Rights (ia) shall (Ai) possess the rights and obligations provided in this Agreement with respect to a Limited Partner pursuant to Article III and Article VII and (Bii) have a Capital Account as a Partner pursuant to Section 5.5 and all other provisions related thereto and (iib) shall not (Ai) be entitled to vote on any matters requiring the approval or vote of the holders of Outstanding Units, except as provided by law or contemplated by Section 11.2law, (Bii) be entitled to any distributions other than as provided in Sections Section 6.4(b)(ii6.4(c), (d) and (e) and Section 12.4 or (Ciii) be allocated items of income, gain, loss or deduction other than as specified in this Article VI.

Appears in 1 contract

Samples: Agreement (Western Gas Partners LP)

Special Provisions Relating to the Holders of Incentive Distribution Rights. (ai) Notwithstanding anything to the contrary set forth in this Agreement, the holders of the Incentive Distribution Rights (i) shall (A) possess the rights and obligations provided in this Agreement with respect to a Limited Partner pursuant to Article III and Article VII and (B) have a Capital Account as a Partner pursuant to Section 5.5 and all other provisions related thereto and (ii) shall not (A) be entitled to vote on any matters requiring the approval or vote of the holders of Outstanding Units, except as provided by law or contemplated by Section 11.2, (B) be entitled to any distributions other than as provided in Section 6.4(b)(ii6.4(b)(iii) and Section 12.4 or (C) be allocated items of income, gain, loss or deduction other than as specified in this Article VI.

Appears in 1 contract

Samples: Agreement (American Midstream Partners, LP)

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