Other Redemption. If Occidental LP1 breaches any of its obligations ---------------- under Section 14.1, (a) Occidental LP1's 6,623 Units shall be redeemed and canceled and of no further force and effect and (b) an amount equal to the balance in Occidental LP1's Capital Account shall be distributed by the Partnership to Occidental LP1, or if there is a deficit in Occidental LP1's Capital Account, Occidental LP1 shall contribute to the Partnership an amount of cash necessary to eliminate such deficit. Upon completion of the steps in clauses (a) and (b), Occidental LP1's entire interest in the Partnership shall terminate.
Appears in 3 contracts
Samples: Lease Agreement (Lyondell Chemical Co), Lease Agreement (Equistar Funding Corp), Lease Agreement (Equistar Chemicals Lp)
Other Redemption. If Occidental LP1 breaches any of its obligations ---------------- under Section 14.1, (a) Occidental LP1's 6,623 Units shall be redeemed and canceled and of no further force and effect and (b) an amount equal to the balance in Occidental LP1's Capital Account shall be distributed by the Partnership to Occidental LP1, or if there is a deficit in Occidental LP1's Capital Account, Occidental LP1 shall contribute to the Partnership an amount of cash necessary to eliminate such deficit. Upon completion of the steps in clauses (a) and (b), Occidental LP1's entire interest in the Partnership shall terminate.
Appears in 2 contracts
Samples: Occidental Petroleum Corp /De/, Lyondell Petrochemical Co
