This excerpt taken from the QELP 8-K filed Dec 7, 2007.
"Operating Expenditures" means all Partnership Group cash expenditures, including, but not limited to, lease operating expenditures, taxes, reimbursements of the General Partner, in accordance with this Agreement, interest payments, repayment of Working Capital Borrowings, and non-Pro Rata repurchases of Units (other than those made with the proceeds of an Interim Capital Transaction), subject to the following:
(a) repayment of Working Capital Borrowings deducted from Operating Surplus pursuant to clause (b)(iii) of the definition of Operating Surplus shall not constitute Operating Expenditures when actually repaid;
(b) payments (including prepayments and prepayment penalties) of principal of and premium on indebtedness other than Working Capital Borrowings shall not constitute Operating Expenditures; and
(c) Operating Expenditures shall not include (i) payment of transaction expenses (including taxes) relating to Interim Capital Transactions, (ii) distributions to Partners, (iii)
Expansion Capital Expenditures or (iv) actual Maintenance Capital Expenditures, but shall include Estimated Average Maintenance Capital Expenditures. Where capital expenditures consist of both Maintenance Capital Expenditures and Expansion Capital Expenditures, the General Partner, with the concurrence of the Conflicts Committee, will determine the allocation between the portion consisting of Maintenance Capital Expenditures and the portion consisting of Expansion Capital Expenditures.
(d) Operating Expenditures in any Quarter shall include all Hedge Payments made by a member of the Partnership Group during such Quarter, provided, however, that the General Partner may treat all or any portion of any Hedge Payment as a Maintenance Capital Expenditure or Expansion Capital Expenditure, or may allocate a Hedge Payment among one or more Quarters, in either case with the approval of the Conflicts Committee.