Drop Down Disposition definition

Drop Down Disposition means any disposition by (a) OMS of any Equity Interests in any DevCo owned by the OMS to OMP or its subsidiaries or (b) the Credit Parties of any Midstream Properties to OMP and its subsidiaries or to any DevCo.
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Drop Down Disposition means any disposition by the Company or any of its Subsidiaries (other than the MLP or its Subsidiaries) of any Equity Interests in any Subsidiary of the Company or all or any portion of the assets of the Company or any of its Subsidiaries (other than the MLP or its Subsidiaries), in each case to the MLP or any of its Subsidiaries.
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Drop Down Disposition means any disposition by (a) the Borrower of any Equity Interests in any Drop Down OpCo owned by the Borrower or (b) any Drop Down OpCo of all or substantially all of its Property, in each case to Midstream MLP or any direct or indirect subsidiary thereof.
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Examples of Drop Down Disposition in a sentence

  • Notwithstanding the foregoing, the Managers’ shall have a duty to act in good faith in determining (x) whether a Replacement Credit Facility is on market terms in accordance with the definition of “Replacement Credit Facility,” (y) whether the price paid in connection with a Drop Down Disposition is fair under Section 6.11(j), and (z) the projected IRR applicable to a proposed project under Section 6.11(r).

  • Promptly after the occurrence of any Insurance and Condemnation Event, Asset Disposition or Drop Down Disposition, in either case involving Net Proceeds in an aggregate amount in excess of $3,000,000, notice of such Insurance and Condemnation Event, Asset Disposition or Drop Down Disposition that reasonably describes such Insurance and Condemnation Event, Asset Disposition or Drop Down Disposition, as applicable.

  • The Second Amendment DevCo Contribution constitutes a Drop Down Disposition.


More Definitions of Drop Down Disposition

Drop Down Disposition means any disposition by (a) the DevCo Parent of any Equity Interests in any DevCo to Midstream MLP or its subsidiaries or (b) the Credit Parties of any Midstream Properties to Midstream MLP or its subsidiaries or to any DevCo.
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Drop Down Disposition means any disposition of any asset of the Borrower or any of its Restricted Subsidiaries to any Person; provided, that, in the case of a Drop Down Disposition in which the assets are being disposed of from a Restricted Subsidiary of the Borrower, at the time such disposition occurs, no contractual, legal or statutory limitations exist which would limit the ability of the Subsidiaries of the Borrower to dividend or otherwise distribute the net cash proceeds of the consideration received in connection with such disposition to the Borrower.
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