Under the Partnership Agreement, our General Partner’s interest in net income from the Partnership consists of the incentive distribution rights (“IDRs”), which are increasing percentages as noted below:
|
Total Quarterly Distribution Per Common and Subordinated Unit |
Marginal Percentage Interest in Distribution |
|||||||
|
Target Amount |
Unitholders | Holders of IDRs | ||||||
|
above $0.5031 up to $0.5469 |
85 | % | 15 | % | ||||
|
above $0.5469 up to $0.6563 |
75 | % | 25 | % | ||||
|
above $0.6563 |
50 | % | 50 | % | ||||