Common use of Payment of Transaction Expenses by the Partnership and Retention of Proceeds by the Partnership Clause in Contracts

Payment of Transaction Expenses by the Partnership and Retention of Proceeds by the Partnership. The Parties acknowledge (a) the payment by the Partnership, in connection with the closing of the Offering, of transaction expenses of approximately $[ ] million (the “Transaction Expenses”), excluding underwriting discounts of $[ ] in the aggregate but including a structuring fee of [ ]% of the gross proceeds of the Offering payable to certain of the Underwriters (the “Structuring Fee”), and (b) the retention by the Partnership of $[ ] million for general partnership purposes (the “Retained Proceeds”).

Appears in 3 contracts

Samples: Contribution, Conveyance and Assumption Agreement (Hess Midstream Partners LP), Contribution, Conveyance and Assumption Agreement (Hess Midstream Partners LP), Contribution, Conveyance and Assumption Agreement (Hess Midstream Partners LP)

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Payment of Transaction Expenses by the Partnership and Retention of Proceeds by the Partnership. The Parties acknowledge (a) the payment by the Partnership, in connection with the closing of the Offering, of transaction expenses of approximately $[ ] 7.3 million (the “Transaction Expenses”), excluding underwriting discounts of approximately $[ ] 20.4 million in the aggregate but including a structuring fee of [ ]0.50% of the gross proceeds of the Offering payable to certain of the Underwriters (the “Structuring Fee”), and (b) the retention by the Partnership of $[ ] 10.0 million for general partnership purposes (the “Retained Proceeds”).

Appears in 1 contract

Samples: Contribution, Conveyance and Assumption Agreement (Hess Midstream Partners LP)

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