MLP Transaction definition

MLP Transaction means, collectively, (a) the contribution, sale or other disposition by the Borrower or one or more of its Subsidiaries of (i) certain Oil and Gas Interests generally consisting of (x) working interests in onshore natural gas and oil exploration and production operations in the Permian Basin from the surface to and including the Canyon Sand formation and in the East Texas/North Louisiana area from the surface to and including the Cotton Valley formation and (y) owned midstream assets and other assets related to such properties to MLP JV LLC and (ii) all of the Equity Interests of MLP JV LLC to EXCO/HGI MLP, in exchange for (1) common units of EXCO/HGI MLP representing 25.5% of the outstanding limited partnership interests of EXCO/HGI MLP, (2) general partner units of MLP General Partner representing 50% of the outstanding general partner interests of MLP General Partner and (3) a cash distribution of not less than $500,000,000 and (b) the contribution by MLP Partner of not less than $305,000,000 in cash to EXCO/HGI MLP in exchange for (i) common units of EXCO/HGI MLP representing 74.5% of the outstanding limited partnership interests of EXCO/HGI MLP and (ii) general partner units of MLP General Partner representing 50% of the outstanding general partner interests of MLP General Partner.

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MLP Transaction has the meaning set forth in Section 6.6.

MLP Transaction means the closing of a distribution and sale to the public, in an underwritten public offering registered for such purpose under the Securities Act of 1933, as amended, of limited partnership interests in a master limited partnership involving the LP gas distribution business of SYN and either or both of the LP gas distribution businesses of Energy and CGI.

Examples of MLP Transaction in a sentence

• Immediately after the consummation of the MLP Transaction, the Consolidated Group shall meet the requirements with respect to Fixed Charge Coverage Ratio, Net Worth and Long Term Debt as set forth in Section 8(b)(i), (ii) and (iii) above.

• If, despite such efforts, no MLP Transaction has occurred on or prior to June 30, 1997, and EGC elects to defer the Closing of the Transactions pursuant to Section 3(b)(ii) above, NGC will continue to use commercially reasonable efforts to close an MLP Transaction on or prior to December 31, 1997.

• BG JV Documents, ▇▇▇▇▇▇▇▇▇ ▇▇ Documents and MLP Transaction Documents 105 Section 8.01.

• Upon the consummation of the MLP Transaction in accordance with the terms of this Agreement, the Borrowing Base then in effect shall be reduced by $400,000,000 and shall remain at such amount until the earlier of (i) the next Redetermination of the Borrowing Base and (ii) the date such Borrowing Base is otherwise reduced pursuant to the terms of this Agreement.

• The Administrative Agent and each Lender (or at least the required percentage thereof) hereby consent to the consummation of the MLP Transaction; provided that at the time of or immediately prior to the consummation of the MLP Transaction, each of the MLP Transaction Conditions shall have been satisfied.

• Immediately after the consummation of the MLP Transaction, the Consolidated Group shall meet the requirements with respect to Fixed Charge Coverage Ratio , Net Worth and Long Term Debt as set forth in Section 8(b)(i), (ii) and (iii) above.

• BG JV Documents, ▇▇▇▇▇▇▇▇▇ ▇▇ Documents and MLP Transaction Documents 107 Section 8.01.

• The Borrower has informed the Administrative Agent and the Lenders that the Step 3 Transactions, Step 4 Transactions, Step 5 Transactions, Step 7 Transactions and Step 8 Transactions, (collectively, the “MLP Transactions”) constitute, in the case of the Step 3 Transactions, or may be deemed to constitute, in the case of each other MLP Transaction, an Event of Default pursuant to clause (m) of Article VII.

• The MLP Transaction will be effectuated through pre-packaged chapter 11 cases filed by both (i) MLP and (ii) FPFC.

More Definitions of MLP Transaction

MLP Transaction means, collectively, (a) the contribution, sale or other disposition by the Borrower or one or more of its Subsidiaries of (i) certain Oil and Gas Interests generally consisting of (x) working interests in onshore natural gas and oil exploration and production operations in the Permian Basin from the surface to and including the Canyon Sand formation and in the East Texas/North Louisiana area from the surface to and including the Cotton Valley formation and (y) owned midstream assets and other assets related to such properties to MLP JV LLC and (ii) all of the Equity Interests of MLP JV LLC to MLP Limited Partnership, in exchange for (1) common units of MLP Limited Partnership representing 25.5% of the outstanding limited partnership interests of MLP Limited Partnership, (2) general partner units of MLP General Partner representing 50% of the outstanding general partner interests of MLP General Partner and (3) a cash distribution of not less than $500,000,000 and (b) the contribution by MLP Partner of not less than $305,000,000 in cash to MLP Limited Partnership in exchange for (i) common units of MLP Limited Partnership representing 74.5% of the outstanding limited partnership interests of MLP Limited Partnership and (ii) general partner units of MLP General Partner representing 50% of the outstanding general partner interests of MLP General Partner; provided that such transactions are consummated pursuant to and in accordance with the terms of the MLP Principal Documents.

MLP Transaction means a contribution by the Company or any of its Subsidiaries of all or substantially all of its assets, or a contribution by the Members of all or substantially all of the Interests, to a limited partnership in a master limited partnership structure (“MLP”), or the restructuring of the Company as an MLP, in connection with an underwritten public offering of securities of such MLP, provided that the Members, directly or indirectly, retain ownership of at least 50% of the equity interest and voting securities of the general partner of the MLP immediately following the offering.

MLP Transaction means the sale by the members of the Arch Coal Group of those properties identified on Schedule 1.1(M) in an arms-length, sale transaction on reasonable and customary terms, which transaction forms a master limited partnership or similar entity for the purpose of acquiring such properties and potentially other coal mining properties from members of the Arch Coal Group and potentially other Persons not related to the Arch Coal Group and provides partnership interests in such partnership to the Arch Coal Group. Month, with respect to an Interest Period under the Euro-Rate Option, shall mean the interval between the days in consecutive calendar months numerically corresponding to the first day of such Interest Period. If any Interest Period for any Loan subject to a Euro-Rate Option begins on a day of a calendar month for which there is no numerically corresponding day in the month in which such Interest Period is to end, the final month of such Interest Period shall be deemed to end on the last Business Day of such final month.

MLP Transaction has the meaning set forth in the Transaction Term Sheet.