Incentive Distribution Unit definition

Incentive Distribution Unit means a Unit representing a fractional part of the Partnership Interests of all Limited Partners and Assignees and having the rights and obligations specified with respect to an “Incentive Distribution Unit” in this Agreement (and no other rights otherwise available to or other obligations of a holder of a Partnership Interest or a Partner in the Partnership whether under this Agreement, under the Delaware Act or at law or in equity).
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Incentive Distribution Unit means a Limited Partner Interest which will confer upon the holder thereof only the rights and obligations specifically provided in this Agreement with respect to Incentive Distribution Units (and no other rights otherwise available to or other obligations of a holder of a Partnership Interest). Subject to Section 6.7(h) and Section 13.3(c), the holder of an Incentive Distribution Unit shall not be entitled to vote with respect to such Incentive Distribution Unit on any Partnership matter except as may otherwise be required by law.
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Incentive Distribution Unit has the meaning set forth in the Partnership Agreement.
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Examples of Incentive Distribution Unit in a sentence

  • The initial Capital Account balance in respect of each Incentive Distribution Unit shall be an amount equal to the current Capital Account balance of the General Partner (as reduced by any reallocation of the Capital Account of the General Partner to Class D Units) less an amount equal to 2% of the total positive Capital Account balances of all Partners (excluding Capital Account balances of Partners in respect of Series I Preferred Units).

  • If any former Incentive Distribution Unit holder has a remaining Capital Account but holds no Units, Incentive Distribution Units or other Partnership Securities, Section 6.1(c)(x)(C) shall apply to such holder.

  • The initial Capital Account balance in respect of each Incentive Distribution Unit shall be an amount equal to the current Capital Account balance of the General Partner (as reduced by any reallocation of the Capital Account of the General Partner to Class D Units) less an amount equal to 2% of the total positive Capital Account balances of all Partners.

  • As of the Effective Date, the Capital Account attributable to each Incentive Distribution Unit held by Azure Midstream Energy shall equal $700,000.00.


More Definitions of Incentive Distribution Unit

Incentive Distribution Unit as defined in the Second A&R Marlin LP Agreement. “IDRH” has the meaning set forth in the introductory paragraph.
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Incentive Distribution Unit means a Unit representing a fractional part of the Partnership Interests of all Limited Partners and Assignees and having the rights and obligations specified with respect to an “Incentive Distribution Unit” in this Agreement (and no other rights otherwise available to or other obligations of a holder of a Partnership Interest or a Partner in the Partnership whether under this Agreement, under the Delaware Act or at law or in equity). 1 2 Pursuant to the Incentive Distribution Waiver, with respect to the calendar quarter ending on June 30, 2014 and each calendar quarter thereafter, the General Partner has irrevocably waived its right to receive Incentive Distributions in consideration of the issuance by the Partnership to the General Partner of 66,100,000 Class D Units and 1,000 Incentive Distribution Units.
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Incentive Distribution Unit as defined in the Second A&R Marlin LP Agreement.
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Related to Incentive Distribution Unit

  • Incentive Distribution Right means a non-voting Limited Partner Interest issued to the General Partner, which Partnership Interest will confer upon the holder thereof only the rights and obligations specifically provided in this Agreement with respect to Incentive Distribution Rights (and no other rights otherwise available to or other obligations of a holder of a Partnership Interest). Notwithstanding anything in this Agreement to the contrary, the holder of an Incentive Distribution Right shall not be entitled to vote such Incentive Distribution Right on any Partnership matter except as may otherwise be required by law.

  • Incentive Distributions means any amount of cash distributed to the holders of the Incentive Distribution Rights pursuant to Section 6.4.

  • Incentive Distribution Rights has the meaning assigned to such term in the Partnership Agreement.

  • Income Distribution shall be calculated as set forth in subparagraph (A), below, unless the Prospectus provides for the averaging of income distributions, in which case, "Income Distribution" shall be shall be calculated as set forth in subparagraph (B), below. Accordingly, the Unitholder's "Income Distribution" shall be equal to:

  • Share Distribution means a dividend payable in shares of any class or series of capital stock, Convertible Securities or other equity securities of the Corporation or any other Person.