It is expected that the Partnership will make quarterly distributions of available free cash flow after capital expenditures and debt service. Distributable cash, after 30-50% dedication to debt service, will be distributed 2% to the general partner and 98% to the limited partners until a certain threshold is met, at which time the distributions above the threshold will be 25% to the general partner and 75% to the limited partners.The Unit Purchase and Contribution Agreement signed today is subject to customary pre and post-closing adjustments, including the expiration or early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, customary title and environmental reviews, closing conditions and regulatory approvals, and is expected to close in early 2013.
EXCO Resources, Inc. Announces A Partnership With Harbinger Group Inc. Related To Conventional Oil And Gas Properties In Texas And Louisiana
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