other securities laws. In addition, certain provisions of Rule 144 under the Securities Act, which permit the resale, subject to various terms and conditions, of restricted securities affer they have been held for one year, do not apply to the Units because the Company is not required to file and does not file, current reports under the Exchange Act and does not, and does noi intend to, make comparable information publicly available. 6.4.6 Purchasers of the Units are subject to Dilution Although we have not prepared a consolidated balance sheet for KUE, prior to this offering and the conversion of $180 million of KUE’s preferred limited partner units currently held by the Principals and their affiliates into Common LP Units at the per Common LP Unit issuance price, we expect that KUE would have negative or nominally positive common equity book value due to its historical capital structure, including its level of indebtedness. As a result, the book value per Unit acquired in this offering will be substantially less after this offering than the purchase price paid by the Investors. The Investors’ interests are also subject to future dilution if and to the extent the Company grants options, profits interest units or similar rights to officers, directors or employees of the Company, and will also be affected by any awards by the Company under the Long Term Incentive Plan and the Steck Appreciation Rights Plan described under "Management Incentive Plans and Employment Agreemenis.” Investors will have a Co-invest Right to purchase a pro-rata portion of certain issuances of Units by the Company for cash; however, such right is subject to customary exceptions. See “The Structure of KUE and the General Partner.” 6.4.7 KUE and the General Partner are not U.S. entities; disputes must be resolved by binding arbitration in the United Kingdom KUE will be a Cayman Islands exempted limited partnership. The General Partner is a Cayman Islands exempted company. The internal governanc