Common use of Splits and Combinations Clause in Contracts

Splits and Combinations. (a) Subject to Section 5.9(e) and Section 5.14(b)(vi)(E), 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, and any amounts calculated on a per Limited Partner Unit basis or stated as a number of Limited Partner Units (including the number of Common Units into which Series A Preferred Units may convert) are proportionately adjusted.

Appears in 7 contracts

Samples: Agreement (MPLX Lp), Andx Merger Agreement (MPLX Lp), Partnership Interests Restructuring Agreement (MPLX Lp)

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Splits and Combinations. (a) Subject to Section 5.9(eSections 5.8(d) and Section 5.14(b)(vi)(E6.4 (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, and any amounts calculated on a per Limited Partner Unit basis (including any Common Unit Arrearage or Cumulative Common Unit Arrearage) or stated as a number of Limited Partner Units (including the number of Common Units into which Series A Preferred Units may convert) are proportionately adjusted.

Appears in 4 contracts

Samples: FAREASTERN SHIPPING LTD, Dynagas LNG Partners LP, Dynagas LNG Partners LP

Splits and Combinations. (a) Subject to Section 5.9(e5.8(d) and Section 5.14(b)(vi)(E6.5 (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, and any amounts calculated on a per Limited Partner Unit basis (including any Common Unit Arrearage or Cumulative Common Unit Arrearage) or stated as a number of Limited Partner Units (including the number of Common Units into which Series A Preferred Units may convert) are proportionately adjusted.

Appears in 3 contracts

Samples: Agreement (GasLog Partners LP), KNOT Offshore Partners LP, www.lw.com

Splits and Combinations. (a) Subject to Section 5.9(e5.7(d) and Section 5.14(b)(vi)(E6.4 (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, and any amounts calculated on a per Limited Partner Unit basis (including any Common Unit Arrearage or Cumulative Common Unit Arrearage) or stated as a number of Limited Partner Units (including the number of Common Units into which Series A Preferred Units may convert) are proportionately adjusted.

Appears in 2 contracts

Samples: Agreement, VTTI Energy Partners LP

Splits and Combinations. (a) Subject to Section 5.9(e) 5.8(e), Section 5.11(b)(v)(E), Section 6.6 and Section 5.14(b)(vi)(E6.9 (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, and any amounts calculated on a per Limited Partner Unit basis or stated as a number of Limited Partner Units (including the number of Common Units into which Series A Preferred Units may convert) are proportionately adjusted.

Appears in 2 contracts

Samples: Sharing Agreement (Phillips 66 Partners Lp), Registration Rights Agreement (Phillips 66 Partners Lp)

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Splits and Combinations. (a) Subject to Section 5.9(e) ), Section 6.6 and Section 5.14(b)(vi)(E6.9 (dealing with adjustments of distribution levels), the Partnership may make a Pro Rata distribution of Partnership Interests (other than distributions on Series A Preferred Units) 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, and any amounts calculated on a per Limited Partner Unit basis or stated as a number of Limited Partner Units (including the number of Common Units into which Series A Preferred Units may convert) are proportionately adjusted.

Appears in 1 contract

Samples: Summit Midstream Partners, LP

Splits and Combinations. (a) Subject to Section 5.9(e) 6.6 and Section 5.14(b)(vi)(E6.9 (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, and any amounts calculated on a per Limited Partner Unit basis (including any Common Unit Arrearage or Cumulative Common Unit Arrearage) or stated as a number of Limited Partner Units (including the number of Common Units into which Series A Preferred Units may convert) are proportionately adjusted.

Appears in 1 contract

Samples: EQM Midstream Partners, LP

Splits and Combinations. (a) Subject to Section 5.9(e5.8(d) and Section 5.14(b)(vi)(E6.4 (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, and any amounts calculated on a per Limited Partner Unit basis (including any Common Unit Arrearage or Cumulative Common Unit Arrearage) or stated as a number of Limited Partner Units (including the number of Common Units into which Series A Preferred Units may convert) are proportionately adjusted.

Appears in 1 contract

Samples: Hoegh LNG Partners LP

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