Common use of Splits and Combinations Clause in Contracts

Splits and Combinations. (a) Subject to Section 5.6(d), the Partnership may make a Pro Rata distribution of Partnership Interests to all Record Holders or may effect a subdivision or combination of Partnership Interests so long as, after any such event, each Partner shall have the same Percentage Interest in the Partnership as before such event (subject to the effect of Section 5.8(b)(vi)(E)), and any amounts calculated on a per Unit basis or stated as a number of Units are proportionately adjusted; provided, however, that the Partnership may not effect a subdivision or combination of Partnership Interests described in this Section 5.6(a) unless the Operating Partnership also effects an equivalent subdivision or combination.

Appears in 10 contracts

Samples: Management Services Agreement, Management Services Agreement, Management Services Agreement (NextEra Energy Partners, LP)

AutoNDA by SimpleDocs

Splits and Combinations. (a) Subject to Section 5.6(d5.8(d) and Section 6.6 (dealing with adjustments of the Minimum Quarterly Distribution), the Partnership may make a Pro Rata distribution of Partnership Interests to all Record Holders or may effect a subdivision or combination of Partnership Interests so long as, after any such event, each Partner shall have the same Percentage Interest in the Partnership as before such event (subject to the effect of Section 5.8(b)(vi)(E))event, and any amounts calculated on a per Unit basis or stated as a number of Units are proportionately adjusted; , provided, however, that the Partnership may not effect a subdivision or combination of Partnership Interests described in this Section 5.6(a5.8(a) unless the Operating Partnership NEE Partners also effects an equivalent subdivision or combination, as determined by the General Partner.

Appears in 6 contracts

Samples: Management Services Agreement (Nextera Energy Partners, Lp), NextEra Energy Partners, LP, NextEra Energy Partners, LP

Splits and Combinations. (a) Subject to Section 5.6(d), the Partnership may make a Pro Rata distribution of Partnership Interests to all Record Holders or may effect a subdivision or combination of Partnership Interests so long as, after any such event, each Partner shall have the same Percentage Interest in the Partnership as before such event (subject to the effect of Section 5.8(b)(vi)(E))event, and any amounts calculated on a per Unit basis or stated as a number of Units are proportionately adjusted; , provided, however, that the Partnership may not effect a subdivision or combination of Partnership Interests described in this Section 5.6(a) unless the Operating Partnership also effects an equivalent subdivision or combination.

Appears in 3 contracts

Samples: www.lw.com, NextEra Energy Partners, LP, NextEra Energy Partners, LP

Splits and Combinations. (a) Subject to Section 5.6(d5.10(e) and Section 6.5 (dealing with adjustments of distribution levels), the Partnership may make a Pro Rata distribution of Partnership Interests to all Record Holders or may effect a subdivision or combination of Partnership Interests so long as, after any such event, each Partner shall have the same Percentage Interest in the Partnership as before such event (subject to the effect of Section 5.8(b)(vi)(E))event, and any amounts calculated on a per Unit basis or stated as a number of Units are proportionately adjusted; provided, however, that the Partnership may not effect a subdivision or combination of Partnership Interests described in this Section 5.6(a5.10(a) unless the Operating Partnership Public Company also effects an equivalent subdivision or combination.

Appears in 2 contracts

Samples: Transaction Agreement (Hess Midstream Partners LP), Hess Midstream Partners LP

AutoNDA by SimpleDocs

Splits and Combinations. (a) Subject to Section 5.6(d), the Partnership may make a Pro Rata distribution of Partnership Interests to all Record Holders or may effect a subdivision or combination of Partnership Interests so long as, after any such event, each Partner shall have the same Percentage Interest in the Partnership as before such event (subject to the effect of Section 5.8(b)(vi)(E)), and any amounts calculated on a per Unit basis or stated as a number of Units are proportionately adjusted; , provided, however, that the Partnership may not effect a subdivision or combination of Partnership Interests described in this Section 5.6(a) unless the Operating Partnership also effects an equivalent subdivision or combination.

Appears in 1 contract

Samples: Series a Preferred Unit Purchase Agreement (NextEra Energy Partners, LP)

Time is Money Join Law Insider Premium to draft better contracts faster.