Common use of Initial and Additional Capital Contributions Clause in Contracts

Initial and Additional Capital Contributions. In connection with the formation of the Partnership, the General Partner contributed $1,000 to the Partnership on the Closing Date and the Class A Limited Partner has agreed to contribute to the Partnership 123,185 of TPP Units (with a value of approximately $3,121,500, based on the closing price of the TPP Units on the New York Stock Exchange on the day prior to the Closing Date) (the “Initial Contribution”). The Class B Limited Partner is not obligated to make a contribution to the Partnership. Subject to the provisions of applicable law or except as otherwise provided for herein, no Partner shall be liable for or obligated to make an additional Capital Contribution to the Partnership, whether for the purpose of enabling the Partnership to meet its obligations under Section 6.03 or for any other purpose. The Class A Limited Partner, in its sole discretion and without the consent of the Class B Limited Partner or the General Partner, may make additional Capital Contributions in excess of the Initial Contribution, provided that any such voluntary additional Capital Contributions will not have the effect of changing the Sharing Points of the Class B Limited Partner. The initial Capital Account of the General Partner is $1,000, the initial Capital Account of the Class A Limited Partner as of the Closing Date is the fair market value of the Initial Contribution, based upon the closing price of the TPP Units on the New York Stock Exchange on the Closing Date, and the initial Capital Account of the Class B Limited Partner is zero.

Initial and Additional Capital Contributions. In connection with the formation of the Partnership, the General Partner contributed $1,000 to the Partnership on the Closing Date and the Class A Limited Partner has agreed to contribute to the Partnership 123,185 of TPP 779,102 EPD Units (with a value of approximately $3,121,50017,000,000, based on the closing price of the TPP EPD Units on the New York Stock Exchange on the day prior to the Closing Date) (the “Initial Contribution”). The No Class B Limited Partner is not obligated to make a contribution to the Partnership. Subject to the provisions of applicable law or except as otherwise provided for herein, no Partner shall be liable for or obligated to make an additional Capital Contribution to the Partnership, whether for the purpose of enabling the Partnership to meet its obligations under Section 6.03 or for any other purpose. The Class A Limited Partner, in its sole discretion and without the consent of any of the Class B Limited Partner Partners or the General Partner, may make additional Capital Contributions in excess of the Initial Contribution, provided that any such voluntary additional Capital Contributions will not have the effect of changing the Sharing Points of the any Class B Limited Partner. The initial Capital Account of the General Partner is $1,000, the initial Capital Account of the Class A Limited Partner as of the Closing Date is the fair market value of the Initial Contribution, based upon the closing price of the TPP EPD Units on the New York Stock Exchange on the Closing Date, and the initial Capital Account of the each Class B Limited Partner is zero.