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

Appears in 1 contract

Samples: Limited Partnership Agreement

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Special Provisions Relating to the Holders of Incentive Distribution Rights. Notwithstanding anything to the contrary set forth in this Agreement, the holders of the Incentive Distribution Rights (a) shall (i) possess the rights and obligations provided in this Agreement with respect to a Limited Partner pursuant to Article III and Article VII and (ii) have a Capital Account as a Partner pursuant to Section 5.5 and all other provisions related thereto and (b) shall not (i) be entitled to vote on any matters requiring the approval or vote of the holders of Outstanding Units, except as provided by law, (ii) be entitled to any distributions other than as provided in Sections 6.4(a)(v6.4(b)(v), (vi) and (vii), Section 6.4(b)(iii), (iv) and (v), Section 6.4(c) and Section 12.4 or (iii) be allocated items of income, gain, loss or deduction other than as specified in this Article VI.

Appears in 1 contract

Samples: Agreement of Limited Partnership (Blueknight Energy Partners, L.P.)

Special Provisions Relating to the Holders of Incentive Distribution Rights. Notwithstanding anything to the contrary set forth in this Agreement, the holders of the Incentive Distribution Rights (a) shall (i) possess the rights and obligations provided in this Agreement with respect to a Limited Partner pursuant to Article III and Article VII and (ii) have a Capital Account as a Partner pursuant to Section 5.5 and all other provisions related thereto and (b) shall not (i) be entitled to vote on any matters requiring the approval or vote of the holders of Outstanding Units, except as provided by law, (ii) be entitled to any distributions other than as provided in Sections 6.4(a)(v), (vi) and (vii), Section 6.4(b)(iii6.4(a)(iii), (iv) and (v), Section 6.4(c) and Section 12.4 or (iii) be allocated items of income, gain, loss or deduction other than as specified in this Article VI.

Appears in 1 contract

Samples: Limited Partnership Agreement (Targa Resources Partners LP)

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

Appears in 1 contract

Samples: Limited Partnership Agreement (DCP Midstream, LP)

Special Provisions Relating to the Holders of Incentive Distribution Rights. Notwithstanding anything to the contrary set forth in this Agreement, the holders of the Incentive Distribution Rights (a) shall (i) possess the rights and obligations provided in this Agreement with respect to a Limited Partner pursuant to Article III and Article VII and (ii) have a Capital Account as a Partner pursuant to Section 5.5 5.05 and all other provisions related thereto and (b) shall not (i) be entitled to vote on or approve any matters requiring the vote or approval or vote of a percentage of the holders of Outstanding Common Units, except as provided by law, (ii) be entitled to any distributions other than as provided in Sections 6.4(a)(v6.04(a)(v), (vi) and (vii), Section 6.4(b)(iiiSections 6.04(b)(iii), (iv) and (v), Section 6.4(c) and Section 12.4 12.04 or (iii) be allocated items of income, gain, loss or deduction other than as specified in this Article VI.

Appears in 1 contract

Samples: Agreement of Limited Partnership (OSG America L.P.)

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

Appears in 1 contract

Samples: Limited Partnership Agreement (Western Gas Partners LP)

Special Provisions Relating to the Holders of Incentive Distribution Rights. Notwithstanding anything to the contrary set forth in this Agreement, the holders of the Incentive Distribution Rights (a) shall (i) possess the rights and obligations provided in this Agreement with respect to a Limited Partner pursuant to Article III and Article VII and (ii) have a Capital Account as a Partner pursuant to Section 5.5 and all other provisions related thereto and (b) shall not (i) be entitled to vote on any matters requiring the approval or vote of the holders of Outstanding Units, except as provided by law, (ii) be entitled to any distributions other than as provided in Sections 6.4(a)(v6.4(b)(i)(E), (viF) and (viiG), Section 6.4(b)(iii6.4(b)(ii)(C), (ivD) and (v), Section 6.4(cE) and Section 12.4 or (iii) be allocated items of income, gain, loss or deduction other than as specified in this Article VI.

Appears in 1 contract

Samples: Limited Partnership Agreement (Oxford Resource Partners LP)

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