Directed Units. It is understood that approximately [1,312,500] Common Units (the “Directed Units”) will initially be reserved by the several Underwriters for offer and sale upon the terms and conditions to be set forth in the most recent Preliminary Prospectus and in accordance with the rules and regulations of FINRA to the directors, director nominee and executive officers of the General Partner, directors of the Sponsors and certain other individuals as selected by the Sponsors who have heretofore delivered to the Representatives offers or indications of interest to purchase Common Units in form satisfactory to the Representatives (such program, the “Directed Unit Program”) and that any allocation of such Common Units among such persons will be made in accordance with timely directions received by the Representatives from the Partnership; provided that under no circumstances will the Representatives or any Underwriter be liable to the Partnership or to any such person for any action taken or omitted in good faith in connection with such Directed Unit Program. It is further understood that any Directed Units not affirmatively reconfirmed for purchase by any participant in the Directed Unit Program by [9:00] a.m., New York City time, on the first business day following the date hereof or otherwise are not purchased by such persons will be offered by the Underwriters to the public upon the terms and conditions set forth in the Prospectus. The Partnership agrees to pay all fees and disbursements incurred by the Underwriters in connection with the Directed Unit Program and any stamp duties or other taxes incurred by the Underwriters in connection with the Directed Unit Program.
Appears in 1 contract
Sources: Underwriting Agreement (CONE Midstream Partners LP)
Directed Units. It is understood that approximately [1,312,500] 1,312,500 Common Units (the “Directed Units”) will initially be reserved by the several Underwriters for offer and sale upon the terms and conditions to be set forth in the most recent Preliminary Prospectus and in accordance with the rules and regulations of FINRA to the directors, director nominee and executive officers of the General Partner, directors of the Sponsors and certain other individuals as selected by the Sponsors who have heretofore delivered to the Representatives offers or indications of interest to purchase Common Units in form satisfactory to the Representatives (such program, the “Directed Unit Program”) and that any allocation of such Common Units among such persons will be made in accordance with timely directions received by the Representatives from the Partnership; provided that under no circumstances will the Representatives or any Underwriter be liable to the Partnership or to any such person for any action taken or omitted in good faith in connection with such Directed Unit Program. It is further understood that any Directed Units not affirmatively reconfirmed for purchase by any participant in the Directed Unit Program by [9:00] 9:00 a.m., New York City time, on the first business day following the date hereof or otherwise are not purchased by such persons will be offered by the Underwriters to the public upon the terms and conditions set forth in the Prospectus. The Partnership agrees to pay all fees and disbursements incurred by the Underwriters in connection with the Directed Unit Program and any stamp duties or other taxes incurred by the Underwriters in connection with the Directed Unit Program.
Appears in 1 contract
Sources: Underwriting Agreement (CONE Midstream Partners LP)