Common use of Redemption or Call of Series A Preferred Units, Series C Preferred Units or Series E Preferred Units Clause in Contracts

Redemption or Call of Series A Preferred Units, Series C Preferred Units or Series E Preferred Units. Notwithstanding any other provision of this Section 6.1 (other than the Regulatory Allocations), with respect to any taxable period during which Series A Preferred Units are redeemed or called pursuant to the terms of Section 5.12(b)(viii)(F) or Section 5.12(c), Series C Preferred Units are redeemed or called pursuant to the terms of Section 5.14(b)(viii)(G) or Section 5.14(c), Series D Preferred Units are called pursuant to the terms of Section 5.15(c) or Series E Preferred Units are redeemed or called pursuant to the terms of Section 5.16(b)(viii)(F) or Section 5.16(c), each Partner holding redeemed or called Series A Preferred Units, Series C Preferred Units or Series E Preferred Units shall, to the extent necessary after the allocation of Unrealized Gain and Unrealized Loss pursuant to Section 5.5(d)(ii), be allocated items of income, gain, loss and deduction in a manner that results in the Capital Account balance of each such Partner attributable to its redeemed or called Series A Preferred Units, Series C Preferred Units or Series E Preferred Units, as appropriate, immediately prior to such redemption (and after taking into account any applicable Regulatory Allocations) to equal (i) the amount of cash paid to such Partner in redemption of such Series A Preferred Units, Series C Preferred Units or Series E Preferred Units, as appropriate, and (ii) the product of the number of Common Units received in the redemption and the Per Unit Capital Amount for a then Outstanding Common Unit.

Appears in 3 contracts

Samples: Contribution Agreement (Southcross Energy Partners, L.P.), Contribution Agreement (American Midstream Partners, LP), Contribution Agreement (American Midstream Partners, LP)

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Redemption or Call of Series A Preferred Units, Series C Preferred Units or Series E Preferred Units. Notwithstanding any other provision of this Section 6.1 (other than the Regulatory Allocations), with respect to any taxable period during which Series A Preferred Units are redeemed or called pursuant to the terms of Section 5.12(b)(viii)(F5.11(b)(viii)(F) or Section 5.12(c5.11(c), Series C Preferred Units are redeemed or called pursuant to the terms of Section 5.14(b)(viii)(G5.12(b)(viii)(G) or Section 5.14(c), Series D Preferred Units are called pursuant to the terms of Section 5.15(c5.12(c) or Series E Preferred Units are redeemed or called pursuant to the terms of Section 5.16(b)(viii)(F5.13(b)(viii)(F) or Section 5.16(c5.13(c), each Partner holding redeemed or called Series A Preferred Units, Series C Preferred Units or Series E Preferred Units shall, to the extent necessary after the allocation of Unrealized Gain and Unrealized Loss pursuant to Section 5.5(d)(ii), be allocated items of income, gain, loss and deduction in a manner that results in the Capital Account balance of each such Partner attributable to its redeemed or called Series A Preferred Units, Series C Preferred Units or Series E Preferred Units, as appropriate, immediately prior to such redemption (and after taking into account any applicable Regulatory Allocations) to equal (i) the amount of cash paid to such Partner in redemption of such Series A Preferred Units, Series C Preferred Units or Series E Preferred Units, as appropriate, and (ii) the product of the number of Common Units received in the redemption and the Per Unit Capital Amount for a then Outstanding Common Unit.

Appears in 1 contract

Samples: American Midstream Partners, LP

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