Common use of Use of the IPO Proceeds Clause in Contracts

Use of the IPO Proceeds. (a) The Partnership will use a portion of the IPO Proceeds to pay (i) underwriting discounts and commissions and structuring fees of $10,560,375 and (ii) other transaction expenses incurred in connection with the Offering of approximately $7,500,000; (b) The Partnership will loan $39,400,000 of the IPO Proceeds to KNOT 17 in exchange for an intercompany payment obligation; (c) The Partnership will loan $13,400,000 of the IPO Proceeds to KNOT 18 in exchange for an intercompany payment obligation; (d) The Partnership will loan $14,700,000 of the IPO Proceeds to Xxxxxxx XII LP in exchange for an intercompany payment obligation; (e) The Partnership will contribute $14,700,0000 of the IPO Proceeds to KNOT UK, to be further contributed to KNOT Shuttle Tankers and KNOT 17, to repay a portion of its debt obligations related to the M/T Xxxxx Xxxxxxx; (f) The Partnership will contribute $11,000,000 of the IPO Proceeds to KNOT UK, to be further contributed to KNOT Shuttle Tankers and KNOT 18, to repay a portion of its debt obligations related to the M/T Windsor Xxxxxxx; and (g) The Partnership will contribute $33,700,000 of the IPO Proceeds to KNOT UK, to be further contributed to KNOT Shuttle Tankers and KNOT 12 and Xxxxxxx XII, pro rata, to be further contributed to Xxxxxxx XII LP, to repay a portion of the debt obligations related to the M/T Fortaleza Xxxxxxx and M/T Recife Xxxxxxx.

Use of the IPO Proceeds. (a) The Partnership will use a portion of the IPO Proceeds to pay (i) underwriting discounts and commissions and structuring fees of $10,560,375 [•] and (ii) other transaction expenses incurred in connection with the Offering of approximately $7,500,000[•]; (b) The Partnership will loan $39,400,000 [•] of the IPO Proceeds to KNOT 17 in exchange for an intercompany payment obligation; (c) The Partnership will loan $13,400,000 [•] of the IPO Proceeds to KNOT 18 in exchange for an intercompany payment obligation; (d) The Partnership will loan $14,700,000 [•] of the IPO Proceeds to Xxxxxxx XII LP in exchange for an intercompany payment obligation; (e) The Partnership will contribute $14,700,0000 [•] of the IPO Proceeds to KNOT UK, to be further contributed to KNOT Shuttle Tankers and KNOT 17, to repay a portion of its debt obligations related to the M/T Xxxxx Xxxxxxx; (f) The Partnership will contribute $11,000,000 [•] of the IPO Proceeds to KNOT UK, to be further contributed to KNOT Shuttle Tankers and KNOT 18, to repay a portion of its debt obligations related to the M/T Windsor Xxxxxxx; and (g) The Partnership will contribute $33,700,000 [•] of the IPO Proceeds to KNOT UK, to be further contributed to KNOT Shuttle Tankers and KNOT 12 and Xxxxxxx XII, pro rata, to be further contributed to Xxxxxxx XII LP, to repay a portion of the debt obligations related to the M/T Fortaleza Xxxxxxx and M/T Recife Xxxxxxx.

Use of the IPO Proceeds. (a) The Partnership will use a portion of the IPO Proceeds to pay (i) underwriting discounts and commissions and structuring fees of $10,560,375 [•] and (ii) other transaction expenses incurred in connection with the Offering of approximately $7,500,000[•]; (b) The Partnership will loan $39,400,000 [• ] of the IPO Proceeds to KNOT 17 in exchange for an intercompany payment obligation; (c) The Partnership will loan $13,400,000 [• ] of the IPO Proceeds to KNOT 18 in exchange for an intercompany payment obligation; (d) The Partnership will loan $14,700,000 [• ] of the IPO Proceeds to Xxxxxxx tx Xxxxxen XII LP in exchange for an intercompany payment obligation; (e) The Partnership will contribute $14,700,0000 [•] of the IPO Proceeds to KNOT UK, to be further contributed to KNOT Shuttle Tankers and KNOT 17, to repay a portion of its debt obligations related to the M/T X Xxxxx XxxxxxxXxxxxen; (f) The Partnership will contribute $11,000,000 [•] of the IPO Proceeds to KNOT UK, to be further contributed to KNOT Shuttle Tankers and KNOT 18, to repay a portion of its debt obligations related to the M/T Windsor XxxxxxxWindsox Xxxxxen; and (g) The Partnership will contribute $33,700,000 [•] of the IPO Proceeds to KNOT UK, to be further contributed to KNOT Shuttle Tankers and KNOT 12 and Xxxxxxx anx Xxxxxen XII, pro rata, to be further contributed to Xxxxxxx tx Xxxxxen XII LP, to repay a portion of the debt obligations related to the M/T Fortaleza Xxxxxxx Fortalezx Xxxxxen and M/T Recife XxxxxxxRecifx Xxxxxen.