Incentive Distribution Rights. 2. Section 1.1 of the Partnership Agreement is hereby further amended to amend and restate the final sentence to the definition of “Common Unit” as follows:
Incentive Distribution Rights. (b) Section 1.1 of the Partnership Agreement is hereby further amended to delete the final sentence of the definition of “Common Unit” and replace it with the following: The term “Common Unit” does not refer to a Class C Common Unit, a Class D Common Unit or a Class E Common Unit prior to its conversion into a Common Unit pursuant to the terms hereof.
Incentive Distribution Rights the right to receive Incentive Distributions (as defined in the MLP Agreement). Indemnitee – Section 6.06(a).
Incentive Distribution Rights. On the Initial Closing Date, for services rendered or to be rendered to or for the benefit of the Partnership, the General Partner and Holdings will each be issued 50% of the Incentive Distribution Rights. The termination of the Management Agreement shall not forfeit, cancel or otherwise affect the Incentive Distribution Rights issued to either Holdings or the General Partner, except that in the event the Management Agreement is terminated by AECP Operating Company, LLC, a wholly-owned subsidiary of the Partnership, by its delivery of a termination notice to the Manager within 15 business days following (A) the determination by a court that the Manager has defrauded the Partnership or AECP Operating Company, LLC or stolen or misappropriated any of the assets or funds of AECP Operating Company, LLC and (B) such circumstances have not been cured or remedied (which may include a cash payment) by the Manager within 30 days following such judicial determination (pursuant to Section 10.2(b)(iv) of the Management Agreement), Holdings shall forfeit all Limited Partner Interests, Incentive Distribution Rights and Incentive Performance Distributions it holds as of the date of such termination of the Management Agreement. At all times, including at the time the Incentive Distribution Payment is paid to the General Partner or the Common Units are listed on a national securities exchange, the General Partner shall be charged with its percentage of the Partnership’s Direct Costs and Administrative Costs in proportion to its share of revenues.
Incentive Distribution Rights. GP owns all of the Incentive Distribution Rights. GP owns such Incentive Distribution Rights free and clear of all liens, encumbrances, security interests, equities, charges and other claims (except for the requirements of applicable securities laws on transferability and for the restrictions and requirements of the Transaction Documents).
Incentive Distribution Rights. As of the date hereof, pursuant to the Contribution and Simplification Agreement, the Incentive Distribution Rights held by the General Partner will be converted into Common Units. From the date hereof, effective immediately following the aforementioned transactions, the Incentive Distribution Rights shall no longer exist.
Incentive Distribution Rights. As of the date hereof, the General Partner owns, and will own at any Settlement Date, all of the Incentive Distribution Rights (as defined in the A&R Partnership Agreement (as defined herein)); the Incentive Distribution Rights and the limited partner interests represented thereby have been duly authorized and validly issued in accordance with the A&R Partnership Agreement and will be fully paid (to the extent required under the A&R Partnership Agreement) and nonassessable (except as such nonassessability may be affected by Sections 17-303, 17-607 and 17-804 of the Delaware Revised Uniform Limited Partnership Act (the “Delaware LP Act”)); and the General Partner will own such Incentive Distribution Rights free and clear of all liens except for liens described in the Registration Statement and the Prospectus.
Incentive Distribution Rights. 9 3.9. Class A Subordinated Units and Class B Subordinated Units..9 3.10.
Incentive Distribution Rights. The Partnership Agreement shall provide that for each quarter for which LRR Energy (i) has paid or is paying distributions of available cash from operating surplus that equal or exceed the Minimum Quarterly Distribution, and (ii) has paid or is paying distributions in an amount necessary to eliminate any cumulative arrearages in payment of the Minimum Quarterly Distribution to the holders of Common Units, LRR Energy will distribute any additional available cash from operating surplus for that quarter in the following manner:
Incentive Distribution Rights. (b) Section 1.1 of the Partnership Agreement is hereby further amended to delete the final sentence of the definition of “Common Unit” and replace it with the following: