Common use of Ownership of Services Company Clause in Contracts

Ownership of Services Company. All the outstanding shares of capital stock of Services Company are owned by Buckeye Pipe Line Services Company Employee Stock Ownership Plan Trust (“ESOP Trust”) free and clear of any Liens; and such shares of capital stock have been duly authorized and validly issued and are fully paid and nonassessable.

Ownership of Services Company. All the outstanding shares of capital stock of Services Company are owned by Buckeye Pipe Line Employee Stock Ownership Plan Trust free and clear of any Liens, except for the pledge of such shares in connection with the Buckeye Pipe Line Services Company Employee Stock Ownership Plan Trust Trust’s (“ESOP Trust”) free and clear of any Liens3.60% Senior Secured Notes due 2011 (the “ESOP Notes”); and such shares of capital stock have been duly authorized and validly issued and are fully paid and nonassessable.

Ownership of Services Company. All the outstanding shares of capital stock of Services Company are owned by Buckeye Pipe Line Employee Stock Ownership Plan Trust free and clear of any perfected security interest or any other security interest, claim, lien or encumbrance (collectively, “Liens”), except for the pledge of such shares in connection with the Buckeye Pipe Line Services Company Employee Stock Ownership Plan Trust Trust’s (“ESOP Trust”) free and clear of any Liens; and such shares of capital stock have been duly authorized and validly issued and are fully paid and nonassessable3.60% Senior Secured Notes due 2011 (the “ESOP Notes”).

Ownership of Services Company. All the outstanding shares of capital stock of Services Company are owned by Buckeye Pipe Line Employee Stock Ownership Plan Trust free and clear of any perfected security interest or any other security interest, claim, lien or encumbrance (collectively, "Liens"), except for the pledge of such shares in connection with the Buckeye Pipe Line Services Company Employee Stock Ownership Plan Trust Trust's (“"ESOP Trust”") free and clear of any Liens; and such shares of capital stock have been duly authorized and validly issued and are fully paid and nonassessable3.60% Senior Secured Notes due 2011 (the "ESOP Notes").

Ownership of Services Company. All the outstanding shares of capital stock of Services Company are owned by Buckeye Pipe Line Services Company Employee Stock Ownership Plan Trust (“ESOP Trust”) free and clear of any Liens, except for the pledge of such shares in connection with the ESOP Trust’s 3.60% Senior Secured Notes due 2011 (the “ESOP Notes”); and such shares of capital stock have been duly authorized and validly issued and are fully paid and nonassessable.