if payment means starting in Jan means one extra month in 2013, if means declaring in Jan then on same current 12 in a year schedule. how do others read it"
"..On October 30, 2013, BreitBurn GP, LLC, the general partner (the "General Partner") of BreitBurn Energy Partners L.P. (the "Partnership"), entered into Amendment No. 5 to the First Amended and Restated Agreement of Limited Partnership of the Partnership (as amended, the "Partnership Agreement"). Prior to entering into Amendment No. 5, the Partnership Agreement provided that quarterly distributions had to be made within 45 days following the end of each quarter. Amendment No. 5 amends and restates Section 6.3(a) of the Partnership Agreement to provide that, at the discretion of the General Partner, the Partnership may pay quarterly distributions within 45 days following the end of each quarter or in three installments within 17, 45 and 75 days following the end of each quarter. The Partnership intends to change its distribution payment policy from a quarterly payment schedule to a monthly payment schedule beginning with the distributions relating to the fourth quarter of 2013. The payment of monthly distributions is expected to commence in January 2014. ..."
I believe it will be like LINE.
Many remember my argument on that board that, unlike VNR, LINE holders essentially lost a distribution in the transition. To be more precise the whole sequence of distributions got shifted back one month, so if you do eventually sell you likely miss one month of distribution over your holding period (depending precisely on when you time your sell).
VNR looked out for unitholders and made sure that no distribution was missed in the transition.