Common use of Organizational Contributions Clause in Contracts

Organizational Contributions. In connection with the formation of the Partnership on October 30, 2015 under the Delaware Act, the General Partner was admitted as the sole General Partner of the Partnership and the Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $1,000.00 in exchange for an initial Limited Partner Interest equal to a 100% Percentage Interest and was admitted as the Organizational Limited Partner of the Partnership. On the Closing Date, the initial Limited Partner Interest held by the Organizational Limited Partner was redeemed as provided for in the Contribution Agreement and the initial Capital Contribution of the Organizational Limited Partner was refunded, and all interest or other profit that may have resulted from the investment or other use of such initial Capital Contribution was distributed to the Organizational Limited Partner.

Appears in 6 contracts

Samples: Kimbell Royalty Partners, LP, Recapitalization Agreement (Kimbell Royalty Partners, LP), Kimbell Royalty Partners, LP

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Organizational Contributions. In connection with the formation of the Partnership on October 30, 2015 under the Delaware Act, the General Partner was made an initial Capital Contribution to the Partnership in the amount of $20.00 in exchange for a 2% General Partner Interest in the Partnership and has been admitted as the sole General Partner of the Partnership Partnership, and the Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $1,000.00 980.00 in exchange for an initial a 98% Limited Partner Interest equal to a 100% Percentage Interest in the Partnership and was has been admitted as the Organizational a Limited Partner of the Partnership. On As of the Closing Date, the initial Limited interests of the General Partner Interest held by the and Organizational Limited Partner was shall be redeemed as provided for in the Contribution Agreement and the initial Capital Contribution Contributions of the General Partner and the Organizational Limited Partner was shall be refunded, and all interest or other profit that may have resulted from the investment or other use of such initial Capital Contribution was Contributions shall be allocated and distributed to the General Partner and the Organizational Limited Partner, respectively.

Appears in 4 contracts

Samples: www.lw.com, Valero Energy Partners Lp, Delek Logistics Partners, LP

Organizational Contributions. In connection with the formation of the Partnership on October 30, 2015 under the Delaware Act, the 2001 Predecessor General Partner made an initial Capital Contribution to the Partnership in the amount of $990.00, for a certain interest in the Partnership and was admitted as the sole 2001 Predecessor General Partner and as a Limited Partner of the Partnership Partnership, and the predecessor in interest to the Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $1,000.00 in exchange 990.00 for an initial Limited Partner Interest equal to a 100% Percentage Interest interest in the Partnership and was admitted as the Organizational a Limited Partner of the Partnership. On As of the Closing Date, the initial Limited Partner Interest held by interest of the Organizational Limited Partner was redeemed as provided for in the Contribution Agreement and Conveyance Agreement; the initial Capital Contribution Contributions of each Partner were refunded; and the Organizational Limited Partner was refunded, and all interest or other profit that may have resulted from ceased to be a Limited Partner of the investment or other use of such initial Capital Contribution was distributed to the Organizational Limited PartnerPartnership.

Appears in 2 contracts

Samples: Agreement (Plains All American Pipeline Lp), Plains All American Pipeline Lp

Organizational Contributions. In connection with the formation of the Partnership on October 30, 2015 under the Delaware Act, the General Partner was admitted as the sole General Partner of the Partnership and the Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $1,000.00 in exchange for an initial Limited Partner Interest equal to a 100% Percentage Interest and was admitted as the Organizational Limited Partner of the Partnership. On As of the Closing Date, the initial Limited Partner Interest held by the Organizational Limited Partner was shall be redeemed as provided for in the Contribution Agreement and the initial Capital Contribution of the Organizational Limited Partner was shall be refunded, and all interest or other profit that may have resulted from the investment or other use of such initial Capital Contribution was shall be distributed to the Organizational Limited Partner.

Appears in 2 contracts

Samples: Kimbell Royalty Partners, LP, www.lw.com

Organizational Contributions. In connection with the formation of the Partnership on October 30, 2015 under the Delaware Act, the General Partner made an initial Capital Contribution to the Partnership in the amount of $20.00 in exchange for a 2% General Partner Interest in the Partnership and was admitted as the sole General Partner of the Partnership Partnership, and the Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $1,000.00 980.00 in exchange for an initial a 98% Limited Partner Interest equal to a 100% Percentage Interest in the Partnership and was admitted as the Organizational a Limited Partner of the Partnership. On As of the Closing Date, the initial Limited interests of the General Partner Interest held by the and Organizational Limited Partner was were redeemed as provided for in the Contribution Agreement and the initial Capital Contribution Contributions of the General Partner and the Organizational Limited Partner was were refunded, and all interest or other profit that may have resulted from the investment or other use of such initial Capital Contribution was Contributions were allocated and distributed to the General Partner and the Organizational Limited Partner, respectively.

Appears in 1 contract

Samples: EQM Midstream Partners, LP

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Organizational Contributions. In connection with the formation of the Partnership on October 30, 2015 under the Delaware Act, the General Partner was made an initial Capital Contribution to the Partnership in the amount of $10.00, for an interest in the Partnership and has been admitted as the sole General Partner of the Partnership Partnership, and the Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $1,000.00 in exchange 990.00 for an initial Limited Partner Interest equal to a 100% Percentage Interest interest in the Partnership and was admitted as the Organizational a Limited Partner of the Partnership. On As of the Closing Date, the initial Limited Partner Interest held by interest of the Organizational Limited Partner was redeemed as provided for in the Contribution Agreement and Conveyance Agreement; the initial Capital Contribution Contributions of each Partner was refunded; and the Organizational Limited Partner was refunded, and all interest or other profit that may have resulted from ceased to be a Limited Partner of the investment or other use of such initial Capital Contribution was distributed to the Organizational Limited PartnerPartnership.

Appears in 1 contract

Samples: Energy Transfer Partners, L.P.

Organizational Contributions. In connection with the formation of the Partnership on October 30, 2015 under the Delaware Act, the General Partner was 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 sole General Partner of the Partnership Partnership, 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 an initial a 98% Limited Partner Interest equal to a 100% Percentage Interest in the Partnership and was has been admitted as the Organizational a Limited Partner of the Partnership. On As of the Closing Date, the initial Limited interests of the General Partner Interest held by the and Organizational Limited Partner was shall be redeemed as provided for in the Contribution Agreement and the initial Capital Contribution Contributions of the General Partner and the Organizational Limited Partner was shall be refunded, and all interest or other profit that may have resulted from the investment or other use of such initial Capital Contribution was Contributions shall be allocated and distributed to the General Partner and the Organizational Limited Partner, respectively.

Appears in 1 contract

Samples: EQT Midstream Partners, LP

Organizational Contributions. In connection with the formation of the Partnership on October 30, 2015 under the Delaware Act, the Predecessor General Partner made an initial Capital Contribution to the Partnership in the amount of $990.00, for a certain interest in the Partnership and was admitted as the sole Predecessor General Partner and as a Limited Partner of the Partnership Partnership, and the predecessor in interest to the Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $1,000.00 in exchange 990.00 for an initial Limited Partner Interest equal to a 100% Percentage Interest interest in the Partnership and was admitted as the Organizational a Limited Partner of the Partnership. On As of the Closing Date, the initial Limited Partner Interest held by interest of the Organizational Limited Partner was redeemed as provided for in the Contribution Agreement and Conveyance Agreement; the initial Capital Contribution Contributions of each Partner were refunded; and the Organizational Limited Partner was refunded, and all interest or other profit that may have resulted from ceased to be a Limited Partner of the investment or other use of such initial Capital Contribution was distributed to the Organizational Limited PartnerPartnership.

Appears in 1 contract

Samples: Plains All American Pipeline Lp

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