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Common use of Series ME Clause in Contracts

Series ME. (a) The following shall constitute the Series ME Assets: (i) the Exclusive Series ME Assets; (ii) all rights and interests of the Series ME set forth in Exhibit E with respect to the Shared Assets; and (iii) all other assets identified as Series ME Assets on the Series ME Records. (b) The following shall constitute the Series ME Liabilities (without duplication): (i) all Liabilities associated with or arising from the ownership or operation of the Exclusive Series ME Assets; (ii) the Series ME’s Proportionate Share of Shared Liabilities; (iii) the Intercompany Obligations; (iv) the Intercompany Preliminary ME Construction Cost Payable; (v) the Springing Guarantees; and (vi) all other Liabilities identified as Series ME Liabilities on the Series ME Records. (c) The Partners hereby acknowledge and agree that all Series ME Assets are available to satisfy the claims of all creditors in respect of any Series ME Liability, in each case, without priority of claims among such creditors, except as may be expressly set forth in the documents evidencing the obligations owed to any such creditor.

Appears in 4 contracts

Samples: Limited Partnership Agreement (Enbridge Energy Partners Lp), Limited Partnership Agreement (Enbridge Energy Partners Lp), Contribution Agreement (Enbridge Energy Partners Lp)

Series ME. (a) The following shall constitute the Series ME Assets: (i) the Exclusive Series ME Assets; (ii) all rights and interests of the Series ME set forth in Exhibit E F with respect to the Shared Assets; and (iii) all other assets identified as Series ME Assets on the Series ME Records. (b) The following shall constitute the Series ME Liabilities (without duplication): (i) all Liabilities associated with or arising from the ownership or operation of the Exclusive Series ME Assets; (ii) the Series ME’s Proportionate Share of Shared Liabilities; (iii) the Intercompany Obligations; (iv) the Intercompany Preliminary ME Construction Cost Payable; (v) the Springing Guarantees; and (vi) all other Liabilities identified as Series ME Liabilities on the Series ME Records. (c) The Partners hereby acknowledge and agree that all Series ME Assets are available to satisfy the claims of all creditors in respect of any Series ME Liability, in each case, without priority of claims among such creditors, except as may be expressly set forth in the documents evidencing the obligations owed to any such creditor.

Appears in 1 contract

Samples: Agreement of Limited Partnership (Enbridge Energy Partners Lp)