IDR definition
Examples of IDR in a sentence
Any IDR Fee earned pursuant to Section 7.4 in respect of any Quarter outside of the IDR \\4125-0300-3734 v5 Fee Suspension Period will be paid quarterly concurrently with the payment of distributions by XPLR Operating LP to holders of its Common Units in accordance with the Partnership Agreement or promptly thereafter.
XPLR Operating LP, on behalf of the Service Recipients, hereby agrees to pay to the Manager or its permitted transferees, until the dissolution of XPLR Operating LP in accordance with the Partnership Agreement, the IDR Fee as computed under Section 7.4; provided however, that no IDR Fee shall be earned or paid in respect of any Quarter within the IDR Fee Suspension Period.
In connection with the condition imposed by this Section 6.8(b), the General Partner may apply Sections 5.5(c)(iii), 6.1(d)(x) and 6.8(a) or, to the extent not resulting in a material adverse effect on the Unitholders holding Common Units, take whatever steps are required to provide economic uniformity to such Common Units in preparation for a transfer of such IDR Reset Common Units.
Following any such allocation, the transferor’s Capital Account, if any, maintained with respect to the retained IDR Reset Common Units, if any, will have a balance equal to the amount allocated under clause (B) hereinabove, and the transferee’s Capital Account established with respect to the transferred IDR Reset Common Units will have a balance equal to the amount allocated under clause (A) above.
For the purposes of any IDR Fee payable pursuant to this Section 7.4.5 and in accordance with Section 7.4.3.3 as described in the immediately \\4125-0300-3734 v5 preceding sentence, the final two provisos of Section 7.4.3 shall not apply to the calculation of such IDR Fee.