Tuck Under Transaction definition
Tuck Under Transaction means (i) the conversion of the 0.1% General Partnership Interests in QRE MLP currently held by the General Partner into 51,036 Class B Units to be issued by QRE MLP and a non-economic General Partner Interest, (ii) the distribution of such 51,036 Class B Units together with the 6,133,558 Class B Units currently held by the General Partner to QR Holdings (QRE), LLC and QR Energy Holdings, LLC, and (ii) the cancellation of the Management Incentive Fee (as defined in the QRE Partnership Agreement) in exchange for QRE MLP’s agreement to issue future Class B Units to QR Holdings (QRE), LLC and QR Energy Holdings, LLC subject to the conditions set forth in the Tuck Under Transaction Documents.