Initial Quarterly Distribution definition

Initial Quarterly Distribution means $0.425 per Unit per Quarter (or with respect to the period commencing on the Closing Date and ending on the last day of the Quarter in which the Closing Date occurred, it means the product of $0.425 multiplied by a fraction of which the numerator is the number of days in such period and of which the denominator is the number of days in such Quarter), subject to adjustment in accordance with Section 6.6 and Section 6.10.
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Initial Quarterly Distribution has the meaning assigned to such term in the Partnership Agreement.
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Initial Quarterly Distribution has the meaning set forth in the Limited Partnership Agreement.
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Examples of Initial Quarterly Distribution in a sentence

  • The MLP shall use the Net Funding Amount to purchase the Treasury Securities on the Closing Date maturing as to principal and interest at such times and in such amounts as MLP GP determines will be sufficient to pay the Initial Quarterly Distribution on the Initial Common Units and General Partner Units.

  • In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Initial Quarterly Distribution shall be reduced in the same proportion that the distribution had to the fair market value of the Common Units immediately prior to the announcement of the distribution.

  • For each such Quarter, the Initial Quarterly Distribution shall be the product obtained by multiplying (a) the amounts therefor that are set out herein prior to the application of this Section 6.8 times (b) the quotient obtained by dividing (i) Available Cash with respect to such Quarter by (ii) the sum of Available Cash with respect to such Quarter and the Estimated Incremental Quarterly Tax Amount for such Quarter, as determined by the Board of Directors.

  • For each such Quarter, the Initial Quarterly Distribution shall be the product obtained by multiplying (a) the amounts therefor that are set out herein prior to the application of this Section 6.8 times (b) the quotient obtained by dividing (i) Available Cash with respect to such Quarter by (ii) the sum of Available Cash with respect to such Quarter and the Estimated Incremental Quarterly Tax Amount for such Quarter, as determined by the Board of Managers.

  • Available Cash that is deemed to be Capital Surplus pursuant to the provisions of Section 6.3(a) shall be distributed, unless the provisions of Section 6.3 require otherwise, 100% to the Unitholders, Pro Rata, until the Initial Quarterly Distribution has been reduced to zero pursuant to the second sentence of Section 6.6(a).

  • For each such Quarter, the Initial Quarterly Distribution shall be the product obtained by multiplying (a) the then applicable Initial Quarterly Distribution times (b) the quotient obtained by dividing (i) Available Cash with respect to such Quarter by (ii) the sum of Available Cash with respect to such Quarter and the Estimated Incremental Quarterly Tax Amount for such Quarter, as determined by the General Partner.

  • The Initial Quarterly Distribution shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Interests.

  • The MLP shall use the Net Funding Amount to purchase the Treasury Securities on the Closing Date maturing as to principal and interest at such times and in such amounts as MLP GP determines will be sufficient to pay the Initial Quarterly Distribution on the Initial Common Units and General Partner Units for the period from the Closing Date through the Quarter ending on June 30, 2009.