Examples of IDR Units in a sentence
Subject to the other terms and conditions of this Agreement, the purchase price for the Subject Interests shall be Three Hundred Fifty-Five Million Dollars ($355,000,000.00) (the “Purchase Price”) plus 300,000 IDR Units issued to Seller (the “Seller Units”, and together with the Purchase Price, the “Total Consideration”).
On the Closing Date, the IDR Units will have those rights, preferences, privileges and restrictions governing IDR Units, as set forth in the Amended and Restated Partnership Agreement and the IDR Holders Agreement.
Xxxxxx shall be required to pay any distributions on the IDR Units (including the Contribution Interests) to the record holder thereof on the record date for such distribution and should not be obligated to allocate any such distributions between Azure and IDRH, which obligation shall be solely between Azure and IDRH.
At the Closing, in consideration for the contribution of the Contributed Assets, Xxxxxx shall (a) issue to Azure 90 IDR Units (the “Contribution Interests”); and (b) pay to Azure $99,500,000.00 in cash (the “Contribution Cash Consideration”), payable by wire transfer of immediately available funds to an account designated by Azure.
The IDR Units entitle the holder to receive an increasing percentage (13%, 23% and 48%) of quarterly distributions of available cash from operating surplus after the minimum quarterly distribution and certain target distribution levels have been achieved.
Total expenditure in 2021 was €22.7 billion, an increase of approximately €1.7 billion or 8% when compared with 2020 and an increase of almost 27% when compared with 2019.
To effectuate the Transaction Agreement, the Partnership and Azure executed the following steps: •The Partnership (i) amended and restated its partnership agreement to reflect the unitization of all of the Partnership’s incentive distribution rights (as unitized, the “IDR Units”) and (ii) recapitalize the IDRs owned by IDRH into 100 IDR Units.
Azure owned 100% of the interest in our general partner, representing an approximate 1.97% general partner interest in us, and 90% of our IDR Units.
The assumed purchase price and fair value of the Partnership has been determined by using a combination of an income, market and cost valuation methodology and considered the evaluation of comparable company transactions, the Partnership's discounted future cash flows, the fair value of the Partnership's common units as of the Transactions Date and the consideration paid by Azure for the general partner interest and IDR Units.
The preliminary assumed purchase price and fair value of Marlin Midstream Partners, LP has been determined by using a combination of an income, market and cost valuation methodology, and considered the evaluation of comparable company transactions, the Partnership's discounted future cash flows, the fair value of the Partnership's common units as of the closing of the Transactions and the consideration paid by Azure for the general partner interests and IDR Units.