Initial LP Interest definition

Initial LP Interest has the meaning set forth in the Recitals of this Agreement.

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Initial LP Interest has the meaning assigned to such term in the recitals.

Initial LP Interest is defined in the Recitals.

Examples of Initial LP Interest in a sentence

• The Initial LP Interest held by Diamondback shall be redeemed for $100.00.

• The Partnership hereby accepts the Initial LP Interest, as a recapitalization of NRGY’s interest in the Partnership.

• The Partnership hereby redeems (i) the Initial LP Interest in the Partnership held by NRGY and (ii) the Initial GP Interest in the Partnership held by the General Partner.

• The Partnership shall at the Effective Time transfer by wire to the account of MLP Holdco an amount of cash equal to the Distribution Amount and thereby redeem the Initial LP Interest.

• The Partnership hereby redeems the Initial LP Interest held by Landmark and hereby refunds and distributes to Landmark the initial contribution, in the amount of $1,000, made by Landmark in connection with the formation of the Partnership, along with any interest or other profit that resulted from the investment or other use of such initial contribution.

• The Partnership hereby redeems the Initial LP Interest held by WRSW and hereby refunds and distributes to WRSW the initial contribution, in the amount of $1,000, made by WRSW in connection with the formation of the Partnership, along with any interest or other profit that resulted from the investment or other use of such initial contribution.

• The Partnership hereby redeems the Initial LP Interest held by MPLX Logistics Holdings LLC and hereby refunds and distributes to MPLX Logistics Holdings LLC the initial contribution, in the amount of $980.00, made by MPLX Logistics Holdings LLC in connection with the formation of the Partnership, along with any interest or other profit that resulted from the investment or other use of such initial contribution.

• The Partnership hereby redeems the Initial LP Interest held by CONE Gathering and hereby refunds and distributes to CONE Gathering the initial contribution, in the amount of $6,860, made by CONE Gathering in connection with the formation of the Partnership, along with any interest or other profit that resulted from the investment or other use of such initial contribution.

• The Partnership hereby redeems the Initial LP Interest held by Tesoro and hereby refunds and distributes to Tesoro the initial contribution, in the amount of $980, made by Tesoro in connection with the formation of the Partnership, along with any interest or other profit that resulted from the investment or other use of such initial contribution.

• The Partnership hereby redeems the Initial LP Interest held by CONSOL and hereby refunds and distributes to CONSOL the initial contribution, in the amount of $980, made by CONSOL in connection with the formation of the Partnership, and 98% of any interest or other profit that may have resulted from the investment or other use of such initial contribution shall be allocated and distributed to CONSOL, and the balance thereof shall be allocated and distributed to the General Partner.

More Definitions of Initial LP Interest

Initial LP Interest is defined in Schedule D.

Initial LP Interest means the 100% limited partner interest in the Partnership owned by GPM pursuant to the Original Agreement.

Initial LP Interest has the meaning set forth in the Recitals of this Agreement. “MLP” has the meaning set forth in the introductory paragraph of this Agreement. “MLP GP” has the meaning set forth in the introductory paragraph of this Agreement. “Offering” has the meaning set forth in the Recitals of this Agreement.