Common use of Tax Estimates Clause in Contracts

Tax Estimates. On or before March 15 of each year, the Partnership shall provide each Purchaser that continues to own Purchased Units a good faith estimate (and reasonable supporting calculations) of whether there was sufficient Unrealized Gain attributable to the Partnership property as of December 31 of the previous year such that, if any of such Purchaser’s Series A Preferred Units were converted to Common Units and such Unrealized Gain was allocated to such Purchaser pursuant to Section 5.5(d)(iii) of the Partnership Agreement (taking proper account of allocations of higher priority), such Purchaser’s Capital Account in respect of its Common Units would be equal to the Per Unit Capital Amount for an Initial Common Unit without any need for corrective allocations under Section 6.2(i) of the Partnership Agreement. In addition, following receipt of a written request from a Purchaser that continues to own Purchased Units, the Partnership shall provide such Purchaser with a good faith estimate (and reasonable supporting calculations) of whether there is sufficient Unrealized Gain attributable to the Partnership property on the date of such request such that, if any of such Purchaser’s Series A Preferred Units were converted to Common Units and such Unrealized Gain was allocated to such Purchaser pursuant to Section 5.5(d)(iii) of the Partnership Agreement (taking proper account of allocations of higher priority), Purchaser’s Capital Account in respect of its Common Units would be equal to the Per Unit Capital Amount for an Initial Common Unit without any need for corrective allocations under Section 6.2(i) of the Partnership Agreement. Each Purchaser shall be entitled to make such a request not more than once per calendar year. For purposes of this Section 5.13, all capitalized terms used but not defined herein shall have the meanings assigned to them in the Partnership Agreement.

Appears in 3 contracts

Samples: Preferred Unit Purchase Agreement, Purchase Agreement (CSI Compressco LP), Preferred Unit Purchase Agreement

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Tax Estimates. On or before March 15 April 1 of each yearyear beginning in 2019, the Partnership shall provide each Purchaser that continues to own Purchased Units a good faith estimate (and reasonable supporting calculations) of whether there was sufficient Unrealized Gain attributable to the Partnership property as of December 31 of the previous year such that, if any of such Purchaser’s Series A Preferred Units were converted to Common Units and such Unrealized Gain was allocated to such Purchaser pursuant to Section 5.5(d)(iii6.1(d)(xiii) of the Partnership Agreement Second A&R LPA (taking proper account of allocations of higher priority), such Purchaser’s Capital Account in respect of its Common Units would be equal to the Per Unit Capital Amount for an Initial Common Unit without any need for corrective allocations under Section 6.2(i6.2(h) of the Partnership AgreementSecond A&R LPA. In addition, on and after the first date on which the Series A Preferred Units are convertible pursuant to Section 5.11(b)(vi)(A) of the Second A&R LPA, following receipt of a written request from a any Purchaser that that, together with its Affiliates, acquired $100 million or more Purchased Preferred Units on the Closing Date, so long as such Purchaser or any of its respective Affiliates continues to own Purchased Preferred Units, the Partnership shall provide such Purchaser with a good faith estimate (and reasonable supporting calculations) of whether there is sufficient Unrealized Gain attributable to the Partnership property on the date of such request such that, if any of such the Purchaser’s Series A Preferred Units were converted to Common Units and such Unrealized Gain was allocated to such Purchaser pursuant to Section 5.5(d)(iii6.1(d)(xiii) of the Partnership Agreement Second A&R LPA (taking proper account of allocations of higher priority), such Purchaser’s Capital Account in respect of its Common Units would be equal to the Per Unit Capital Amount for an Initial Common Unit without any need for corrective allocations under Section 6.2(i6.2(h) of the Partnership AgreementSecond A&R LPA. Each Purchaser such Purchaser, together with its Affiliates, shall be entitled to make such a request not more than once per calendar year. For purposes of this Section 5.135.05, all capitalized terms used but not defined herein shall have the meanings assigned to them in the Partnership AgreementSecond A&R LPA.

Appears in 2 contracts

Samples: Registration Rights Agreement (Dominion Midstream Partners, LP), Series a Preferred Unit and Common Unit Purchase Agreement

Tax Estimates. On or before March 15 April 1 of each yearyear beginning in 2021, the Partnership shall provide each Purchaser that continues to own Purchased Units a good faith estimate (and reasonable supporting calculations) of whether there was sufficient Unrealized Gain attributable to the Partnership property as of December 31 of the previous year such that, if any of such Purchaser’s Series A Preferred Units were converted to to, or redeemed for, Common Units and such Unrealized Gain was allocated to such Purchaser pursuant to Section 5.5(d)(iii6.1(d)(xiii) of the Partnership Agreement Second A&R LPA (taking proper account of allocations of higher priority), such Purchaser’s Capital Account in respect of its Common Units would be equal to the Per Unit Capital Amount for an Initial Common Unit without any need for corrective allocations under Section 6.2(i6.2(h) of the Partnership AgreementSecond A&R LPA. In addition, on and after the first date on which the Series A Preferred Units are convertible pursuant to Section 5.12(b)(vi)(A) of the Second A&R LPA, following receipt of a written request from a any Purchaser that that, together with its Affiliates, acquired $100 million or more Purchased Units on the Closing Date, so long as such Purchaser or any of its respective Affiliates continues to own Purchased Units, the Partnership shall provide such Purchaser with a good faith estimate (and reasonable supporting calculations) of whether there is sufficient Unrealized Gain attributable to the Partnership property on the date of such request such that, if any of such the Purchaser’s Series A Preferred Units were converted to Common Units and such Unrealized Gain was allocated to such Purchaser pursuant to Section 5.5(d)(iii6.1(d)(xiii) of the Partnership Agreement Second A&R LPA (taking proper account of allocations of higher priority), such Purchaser’s Capital Account in respect of its Common Units would be equal to the Per Unit Capital Amount for an Initial Common Unit without any need for corrective allocations under Section 6.2(i6.2(h) of the Partnership AgreementSecond A&R LPA. Each Purchaser such Purchaser, together with its Affiliates, shall be entitled to make such a request not more than once per calendar year. For purposes of this Section 5.135.05, all capitalized terms used but not defined herein shall have the meanings assigned to them in the Partnership AgreementSecond A&R LPA.

Appears in 1 contract

Samples: Registration Rights Agreement (USA Compression Partners, LP)

Tax Estimates. On or before March 15 of each year, the Partnership shall provide each Purchaser that continues to own Purchased Units a good faith estimate (and reasonable supporting calculations) of whether there was sufficient Unrealized Gain attributable to the Partnership property as of December 31 of the previous year such that, if any of such Purchaser’s Series A Preferred Units were converted to Common Units and such Unrealized Gain was allocated to such Purchaser pursuant to Section 5.5(d)(iii) of the Partnership Agreement Second A&R LPA (taking proper account of allocations of higher priority), such Purchaser’s Capital Account in respect of its Common Units would be equal to the Per Unit Capital Amount for an Initial Common Unit without any need for corrective allocations under Section 6.2(i) of the Partnership AgreementSecond A&R LPA. In addition, following receipt of a written request from a Purchaser that continues to own Purchased Units, the Partnership shall provide such Purchaser with a good faith estimate (and reasonable supporting calculations) of whether there is sufficient Unrealized Gain attributable to the Partnership property on the date of such request such that, if any of such Purchaser’s Series A Preferred Units were converted to Common Units and such Unrealized Gain was allocated to such Purchaser pursuant to Section 5.5(d)(iii) of the Partnership Agreement Second A&R LPA (taking proper account of allocations of higher priority), Purchaser’s Capital Account in respect of its Common Units would be equal to the Per Unit Capital Amount for an Initial Common Unit without any need for corrective allocations under Section 6.2(i) of the Partnership AgreementSecond A&R LPA. Each Purchaser shall be entitled to make such a request not more than once per calendar year. For purposes of this Section 5.135.15, all capitalized terms used but not defined herein shall have the meanings assigned to them in the Partnership AgreementSecond A&R LPA.

Appears in 1 contract

Samples: Purchase Agreement (Tetra Technologies Inc)

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Tax Estimates. On or before March 15 1 of each year, the Partnership shall provide each Purchaser that continues to own Purchased Units a good faith estimate (and reasonable supporting calculations) of whether there was sufficient Unrealized Gain attributable to the Partnership property as of December 31 of the previous year such that, if any of such Purchaser’s Series A Preferred Units were converted to Common Units and such Unrealized Gain was allocated to such Purchaser pursuant to Section 5.5(d)(iii) of the Partnership Agreement Fifth A&R LPA (taking proper account of allocations of higher priority), such Purchaser’s Capital Account in respect of its Common Units would be equal to the Per Unit Capital Amount for an Initial Common Unit without any need for corrective allocations under Section 6.2(i) of the Partnership AgreementFifth A&R LPA. In addition, following receipt of a written request from a Purchaser that continues to own Purchased Units, the Partnership shall provide such Purchaser with a good faith estimate (and reasonable supporting calculations) of whether there is sufficient Unrealized Gain attributable to the Partnership property on the date of such request such that, if any of such Purchaser’s Series A Preferred Units were converted to Common Units and such Unrealized Gain was allocated to such Purchaser pursuant to Section 5.5(d)(iii) of the Partnership Agreement Fifth A&R LPA (taking proper account of allocations of higher priority), Purchaser’s Capital Account in respect of its Common Units would be equal to the Per Unit Capital Amount for an Initial Common Unit without any need for corrective allocations under Section 6.2(i) of the Partnership AgreementFifth A&R LPA. Each Purchaser shall be entitled to make such a request not more than once per calendar year. For purposes of this Section 5.135.05, all capitalized terms used but not defined herein shall have the meanings assigned to them in the Partnership AgreementFifth A&R LPA.

Appears in 1 contract

Samples: Series a Preferred Unit (Plains All American Pipeline Lp)

Tax Estimates. On or before March 15 April 1 of each yearyear beginning in 2019, the Partnership shall provide each Purchaser that continues to own Purchased Units a good faith estimate (and reasonable supporting calculations) of whether there was sufficient Unrealized Gain attributable to the Partnership property as of December 31 of the previous year such that, if any of such Purchaser’s Series A Preferred Units were converted to Common Units and such Unrealized Gain was allocated to such Purchaser pursuant to Section 5.5(d)(iii) of the Partnership Agreement Second A&R LPA (taking proper account of allocations of higher priority), such Purchaser’s Capital Account in respect of its Common Units would be equal to the Per Unit Capital Amount for an Initial Common Unit without any need for corrective allocations under Section 6.2(i6.2(h) of the Partnership AgreementSecond A&R LPA. In addition, following receipt of a written request from a any Purchaser that that, together with its Affiliates, acquired $100 million or more Purchased Units on the Closing Date, so long as such Purchaser or any of its respective Affiliates continues to own Purchased Units, the Partnership shall provide such Purchaser with a good faith estimate (and reasonable supporting calculations) of whether there is sufficient Unrealized Gain attributable to the Partnership property on the date of such request such that, if any of such Purchaser’s Series A Preferred Units were converted to Common Units and such Unrealized Gain was allocated to such Purchaser pursuant to Section 5.5(d)(iii) of the Partnership Agreement Second A&R LPA (taking proper account of allocations of higher priority), such Purchaser’s Capital Account in respect of its Common Units would be equal to the Per Unit Capital Amount for an Initial Common Unit without any need for corrective allocations under Section 6.2(i6.2(h) of the Partnership AgreementSecond A&R LPA. Each Purchaser such Purchaser, together with its Affiliates, shall be entitled to make such a request not more than once per calendar year. For purposes of this Section 5.135.05, all capitalized terms used but not defined herein shall have the meanings assigned to them in the Partnership AgreementSecond A&R LPA.

Appears in 1 contract

Samples: Registration Rights Agreement (MPLX Lp)

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