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 made an initial contribution to the Partnership in the amount of $20.00 in exchange for a General Partner Interest equal to a 2% Percentage Interest and was admitted as the General Partner of the Partnership. The Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $980.00 in exchange for a Limited Partner Interest equal to a 98% 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: Amended and Restated Agreement (Harbinger Group Inc.), Agreement (Exco Resources Inc), Agreement (Harbinger Group Inc.)

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Organizational Contributions. In connection with the formation of the Partnership under the Delaware Act, the General Partner made an initial contribution to the Partnership Capital Contribution in the amount of $20.00 in exchange for a General Partner Interest equal to a 22.0% Percentage Interest and was admitted as the General Partner of the Partnership. The Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $980.00 in exchange for a Limited Partner Interest equal to a 9898.0% Percentage Interest 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 Organizational Limited Partner will shall be redeemed as provided in the Contribution Agreement and the initial Capital Contribution Contributions of (i) the Organizational Limited Partner and (ii) the General Partner will be refunded. OneNinety-hundred eight 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, and the balance thereof will be allocated and distributed to the General Partner.

Appears in 3 contracts

Samples: Agreement, Agreement, Agreement (SunCoke Energy Partners, L.P.)

Organizational Contributions. In connection with the formation of the Partnership under the Delaware Act, the General Partner made an initial contribution Capital Contribution to the Partnership in the amount of $20.00 in exchange 20.00, for a General Partner Interest equal to a 2% Percentage Interest and was 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 $980.00 in exchange for a Limited Partner Interest equal to a 98% Percentage Interest and has been admitted as a Limited Partner of the Partnership. As of the Closing Date, Date and effective with the admission of another Limited Partner to the Partnership, the interests interest of the Organizational Limited Partner will shall be redeemed as provided in the Contribution Agreement Agreement; and the initial Capital Contribution of the Organizational Limited Partner will shall thereupon be refunded. OneNinety-hundred eight percent of any 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 Organizational Limited Partner, and the balance thereof shall be allocated and distributed to the General Partner.

Appears in 2 contracts

Samples: Agreement (Quicksilver Gas Services LP), Quicksilver Gas Services LP

Organizational Contributions. In connection with the formation of the Partnership under the Delaware Act, the General Partner made an initial contribution to the Partnership in the amount of $20.00 in exchange for a General Partner Interest equal to a 2% Percentage Interest and was 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 $980.00 1,000.00 in exchange for a Limited Partner Interest equal to a 98100% Percentage Interest and has HI-CRUSH PARTNERS LP FIRST AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP 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 (Hi-Crush Partners LP)

Organizational Contributions. In connection with the formation of the Partnership under the Delaware Act, the General Partner made an initial contribution Capital Contribution to the Partnership in the amount of $20.00 in exchange for a General Partner Interest equal to a 2% Percentage Interest and was 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 $980.00 in exchange for a Limited Partner Interest equal to a 98% 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 shall be redeemed as provided in the Contribution Agreement and the initial Capital Contribution Contributions of (i) the Organizational Limited Partner will and (ii) the General Partner shall thereupon be refunded. OneNinety-hundred eight percent of any 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 Organizational Limited Partner, and the balance thereof shall be allocated and distributed to the General Partner.

Appears in 1 contract

Samples: Agreement (Rhino Resource Partners LP)

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Organizational Contributions. In connection with the formation of the Partnership under the Delaware Act, the General Partner made an initial contribution Capital Contribution to the Partnership in the amount of $20.00 in exchange for a General Partner Interest equal to a 2% Percentage Interest and was admitted as the General Partner of the Partnership. The Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $980.00 in exchange for a Limited Partner Interest equal to a 98% Percentage Interest 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 Organizational Limited Partner will shall be redeemed as provided in the Contribution Agreement and the initial Capital Contribution Contributions of (i) the Organizational Limited Partner and (ii) the General Partner will be refunded. OneNinety-hundred eight 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, and the balance thereof will be allocated and distributed to the General Partner.

Appears in 1 contract

Samples: Oiltanking Partners, L.P.

Organizational Contributions. In connection with the formation of the Partnership under the Delaware Act, the General Partner made an initial contribution to the Partnership in the amount of $20.00 in exchange for a General Partner Interest equal to a 2% Percentage Interest and was has been admitted as the General FORESIGHT ENERGY LP FIRST AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP Partner of the Partnership. The Organizational Limited Partner made an initial Capital Contribution to the Partnership in the amount of $980.00 1,000.00 in exchange for a Limited Partner Interest equal to a 98100% 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 (Foresight Energy LP)

Organizational Contributions. In connection with the formation of the Partnership under the Delaware Act, the General Partner made an initial contribution to the Partnership in the amount of $20.00 in exchange for a General Partner Interest equal to a 2% Percentage Interest and was 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 NORTHERN TIER ENERGY LP FIRST AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP amount of $980.00 1.00 in exchange for a Limited Partner Interest equal to a 98100% 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 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 will be allocated and distributed to the Organizational Limited Partner.

Appears in 1 contract

Samples: Agreement (Northern Tier Energy LP)

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