QELP » Topics » "Operating Expenditures"

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)

 

15

 


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.

Wikinvest © 2006, 2007, 2008, 2009, 2010, 2011, 2012. Use of this site is subject to express Terms of Service, Privacy Policy, and Disclaimer. By continuing past this page, you agree to abide by these terms. Any information provided by Wikinvest, including but not limited to company data, competitors, business analysis, market share, sales revenues and other operating metrics, earnings call analysis, conference call transcripts, industry information, or price targets should not be construed as research, trading tips or recommendations, or investment advice and is provided with no warrants as to its accuracy. Stock market data, including US and International equity symbols, stock quotes, share prices, earnings ratios, and other fundamental data is provided by data partners. Stock market quotes delayed at least 15 minutes for NASDAQ, 20 mins for NYSE and AMEX. Market data by Xignite. See data providers for more details. Company names, products, services and branding cited herein may be trademarks or registered trademarks of their respective owners. The use of trademarks or service marks of another is not a representation that the other is affiliated with, sponsors, is sponsored by, endorses, or is endorsed by Wikinvest.
Powered by MediaWiki