Purchase of Defaulting Partners' Units. (a) Upon any election pursuant to Section 11.2(a), the purchase price that the Non-Defaulting Partners shall pay, in the aggregate, to the Defaulting Partners for their Units shall be an amount equal to (i) the amount that the Defaulting Partners would receive in a liquidation (assuming that any sale under Section 12.2 were for an amount equal to the Fair Market Value, without giving effect to any Damages) reduced by (ii) the unrecovered Damages attributable to the Default by the Defaulting Partners.
Appears in 9 contracts
Samples: Agreement (Equistar Chemicals Lp), Agreement (Millennium Chemicals Inc), Lease Agreement (Millennium Chemicals Inc)
Purchase of Defaulting Partners' Units. (a) Upon any election pursuant to Section 11.2(a), the purchase price --------------- that the such Non-Defaulting Partners shall pay, in the aggregate, to the Defaulting Partners for their Units shall be an amount equal to (i) the amount that the Defaulting Partners would receive in a liquidation (assuming that any sale under Section 12.2 were for an amount equal to the Fair Market Value, without giving ------------ effect to any Damages) reduced by (ii) the unrecovered Damages attributable to the Default by the Defaulting Partners.
Appears in 3 contracts
Samples: Lease Agreement (Lyondell Chemical Co), Lease Agreement (Equistar Funding Corp), Lease Agreement (Equistar Chemicals Lp)
Purchase of Defaulting Partners' Units. (a) Upon any election pursuant to Section 11.2(a), the purchase price that the such Non-Defaulting Partners shall pay, in the aggregate, to the Defaulting Partners for their Units shall be an amount equal to (i) the amount that the Defaulting Partners would receive in a liquidation (assuming that any sale under Section 12.2 were for an amount equal to the Fair Market Value, without giving effect to any Damages) reduced by (ii) the unrecovered Damages attributable to the Default by the Defaulting Partners.
Appears in 2 contracts
Samples: Occidental Petroleum Corp /De/, Lyondell Petrochemical Co
Purchase of Defaulting Partners' Units. (a) Upon any election pursuant to Section 11.2(a), the purchase price that the Non-Defaulting Partners shall pay, in the aggregate, pay to the Defaulting Partners for their Units shall be an amount equal to (i) the amount that the Defaulting Partners would receive in a liquidation (assuming that any sale under Section 12.2 were for an amount equal to the Fair Market Value, without giving effect to any Damages) reduced by (ii) the unrecovered Damages attributable to the Default by the Defaulting Partners.
Appears in 1 contract
Samples: Lyondell Petrochemical Co
