Common use of Organizational Contributions Clause in Contracts

Organizational Contributions. In connection with the formation of the Partnership under the Delaware Act, the General Partner has been admitted as the General Partner of the Partnership. The Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $1,000.00 in exchange for a Limited Partner Interest equal to a 100% Percentage Interest and has been admitted as a Limited Partner of the Partnership. As of the Closing Date, and effective with the admission of another Limited Partner to the Partnership, the interests of the Organizational Limited Partner will be redeemed as provided in the Contribution Agreement and the initial Capital Contribution of the Organizational Limited Partner will be refunded. One-hundred percent of any interest or other profit that may have resulted from the investment or other use of such initial Capital Contribution will be allocated and distributed to the Organizational Limited Partner.

Appears in 4 contracts

Samples: New Source Energy Partners L.P., www.lw.com, New Source Energy Partners L.P.

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Organizational Contributions. In connection with the formation of the Partnership under the Delaware Act, the General Partner has been admitted as the sole General Partner of the Partnership. The Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $1,000.00 in exchange for a Limited Partner Interest equal to a 100% Percentage Interest and has been admitted as a Limited Partner of the Partnership. As of the Closing Date, and effective with the admission of another Limited Partner to the Partnership, the interests of the Organizational Limited Partner will be redeemed as provided in the Contribution Agreement and the initial cash Capital Contribution Contributions of the Organizational Limited Partner will be refunded. One-hundred percent of any interest or other profit that may have resulted from the investment or other use of such initial cash Capital Contribution Contributions will be allocated and distributed to the Organizational Limited Partner.

Appears in 3 contracts

Samples: Agreement (Western Refining Logistics, LP), Western Refining Logistics, LP, Western Refining Logistics, LP

Organizational Contributions. In connection with the formation of the Partnership under the Delaware Act, the General Partner made an initial Capital Contribution to the Partnership in the amount of $50.00 in exchange for a 2% General Partner Interest in the Partnership and has been admitted as the General Partner of the Partnership. The , and the Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $1,000.00 50.00 in exchange for a 98% Limited Partner Interest equal to a 100% Percentage Interest in the Partnership and has been admitted as a Limited Partner of the Partnership. As of the Closing Date, and effective with the admission of another Limited Partner to the Partnership, the interests of the General Partner and Organizational Limited Partner will shall be redeemed as provided in the Contribution Agreement and the initial Capital Contribution Contributions of the General Partner and the Organizational Limited Partner will shall be refunded. One-hundred percent of any , and all interest or other profit that may have resulted from the investment or other use of such initial Capital Contribution will Contributions shall be allocated and distributed to the General Partner and the Organizational Limited Partner, respectively.

Appears in 3 contracts

Samples: www.lw.com, Shell Midstream Partners, L.P., Shell Midstream Partners, L.P.

Organizational Contributions. In connection with the formation of the Partnership under the Delaware Act, the General Partner has been admitted as the General Partner of the Partnership. The Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $1,000.00 in exchange for a Limited Partner Interest equal to a 100% Percentage Interest and has been admitted as a Limited Partner of the Partnership. As of the Closing Date, and effective with the admission of another Limited Partner to the Partnership, the interests of the Organizational Limited Partner will be redeemed as provided in the Contribution Agreement and the initial Capital Contribution Contributions of the Organizational Limited Partner will be refunded. One-hundred percent of any interest or other profit that may have resulted from the investment or other use of such initial Capital Contribution will be allocated and distributed to the Organizational Limited Partner.

Appears in 2 contracts

Samples: Columbia Pipeline Partners LP, Columbia Pipeline Partners LP

Organizational Contributions. In connection with the formation of the Partnership under the Delaware Act, the Partnership issued to the General Partner has been a 2% General Partner Interest in the Partnership and the General Partner was admitted as the General Partner of the Partnership. The , and the Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $1,000.00 in exchange for a Limited Partner Interest equal to a 100% Percentage Interest in the Partnership and has been was admitted as a Limited Partner of the Partnership. As of the Closing Date, and effective with the admission of another Limited Partner to the Partnership, the interests of the General Partner and Organizational Limited Partner will shall be redeemed as provided in the Contribution Agreement and the initial Capital Contribution of the Organizational Limited Partner will shall be refunded. One-hundred percent of any , and all interest or other profit that may have resulted from the investment or other use of such initial Capital Contribution will shall be allocated and distributed to the Organizational Limited Partner.

Appears in 2 contracts

Samples: www.lw.com, OCI Resources LP

Organizational Contributions. In connection with the formation of the Partnership under the Delaware Act, the General Partner has been admitted as the General Partner of the Partnership. The Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $1,000.00 in exchange for a 100% Limited Partner Interest equal to a 100% Percentage Interest in the Partnership and has been admitted as a Limited Partner of the Partnership. As of the Closing Date, and effective with the admission of another Limited Partner to the Partnership, the interests of the Organizational Limited Partner will be redeemed as provided in the Contribution Agreement and the initial Capital Contribution of the Organizational Limited Partner will be refunded. One-hundred percent of any interest or other profit that may have resulted from the investment or other use of such initial Capital Contribution will be allocated and distributed to the Organizational Limited Partner.

Appears in 1 contract

Samples: World Point Terminals, LP

Organizational Contributions. In connection with the formation of the Partnership under the Delaware Act, the General Partner has been admitted as the General Partner of the Partnership. The Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $1,000.00 in exchange for a 100% Limited Partner Interest equal to a 100% Percentage Interest in the Partnership and has been admitted as a Limited Partner of the Partnership. As of the Closing Date, and effective with the admission of another Limited Partner to the Partnership, the interests of the Organizational Limited Partner will be redeemed as provided in the Contribution Agreement and the initial Capital Contribution of the Organizational Limited Partner will be refunded. One-hundred percent of any interest or other profit that may have resulted from the investment or other use of such initial Capital Contribution will be allocated and distributed to the Organizational Limited Partner. The Organizational Limited Partner hereby continues as a limited partner of the Partnership with respect to interests issued to it pursuant to Section 5.2(a).

Appears in 1 contract

Samples: World Point Terminals, LP

Organizational Contributions. In connection with the formation of the Partnership under the Delaware Act, the General Partner has been admitted as the General Partner of the Partnership. The Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $1,000.00 in exchange for a Limited Partner Interest equal to a 100% Percentage Interest and has been admitted as a Limited Partner of the Partnership. As of the Closing Date, and effective with the admission of another other Limited Partner Partners to the Partnership, the interests of the Organizational Limited Partner will be redeemed as provided in the Contribution Agreement and the $1,000 initial Capital Contribution of the Organizational Limited Partner will be refunded. One-hundred percent of any interest or other profit that may have resulted from the investment or other use of such initial Capital Contribution will be allocated and distributed to the Organizational Limited Partner.

Appears in 1 contract

Samples: Agreement (New Source Energy Partners L.P.)

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Organizational Contributions. In connection with the formation of the Partnership under the Delaware Act, the General Partner has been admitted as the General Partner of the Partnership. The Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $1,000.00 in exchange for a Limited Partner Interest equal to a 100% Percentage Interest and has been admitted as a Limited Partner of the Partnership. As of the Closing Date, and effective with the admission of another Limited Partner to the Partnership, the interests of the Organizational Limited Partner will be redeemed as provided in the Contribution Agreement and the initial Capital Contribution Contributions of the Organizational Limited Partner will be refunded. One-hundred percent of any interest or other profit that may have resulted from the investment or other use of such initial Capital Contribution Contributions will be allocated and distributed to the Organizational Limited Partner.

Appears in 1 contract

Samples: Agreement (Westlake Chemical Partners LP)

Organizational Contributions. In connection with the formation of the Partnership under the Delaware Act, the General Partner has been admitted as the General Partner of the Partnership. The Partnership and the Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $1,000.00 1,000 in exchange for a Limited Partner Interest equal to a 100% Percentage Interest and has been admitted as a Limited Partner of the Partnership. As of the Closing Date, and effective with the admission of another Limited Partner to the Partnership, the interests of the Organizational Limited Partner will be redeemed as provided in the Contribution Agreement and the initial Capital Contribution Contributions of the Organizational Limited Partner will be refunded. One-hundred percent of any interest or other profit that may have resulted from the investment or other use of such initial Capital Contribution Contributions will be allocated and distributed to the Organizational Limited Partner.

Appears in 1 contract

Samples: Lehigh Gas Partners LP

Organizational Contributions. In connection with the formation of the Partnership under the Delaware Act, the General Partner has been admitted as the General Partner of the Partnership. The Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $1,000.00 in exchange for a Limited Partner Interest equal to a 100% Percentage Interest and has been admitted as a Limited Partner of the Partnership. As of the Closing Date, and effective with the admission of another Limited Partner to the Partnership, the interests of the Organizational Limited Partner will be was redeemed as provided in the Contribution Agreement and the initial Capital Contribution Contributions of the Organizational Limited Partner will be refunded. One-hundred percent of any interest or other profit that may have resulted from the investment or other use of such initial Capital Contribution will be Contributions was allocated and distributed to the Organizational Limited Partner.

Appears in 1 contract

Samples: Agreement (Hi-Crush Partners LP)

Organizational Contributions. In connection with the formation of the Partnership under the Delaware Act, the General Partner made an initial Capital Contribution to the Partnership in the amount of $20.00, for a 2% General Partner Interest in the Partnership and has been admitted as the General Partner of the Partnership. The , and the Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $1,000.00 in exchange 980.00 for a 98% Limited Partner Interest equal to a 100% Percentage Interest in the Partnership and has been was admitted as a Limited Partner of the Partnership. As of the Initial Closing Date, and effective with the admission of another Limited Partner to the Partnership, the interests interest of the Organizational Limited Partner will be was redeemed as provided in the Contribution Agreement and the initial Capital Contribution of the Organizational Limited Partner will be was refunded. OneNinety-hundred nine percent of any interest or other profit that may have resulted from the investment or other use of such initial Capital Contribution will be Contributions was allocated and distributed to the Organizational Limited Partner, and the balance thereof was allocated and distributed to the General Partner.

Appears in 1 contract

Samples: American Energy Capital Partners - Energy Recovery Program, Lp

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