Vulcan Energy Corporation Sample Clauses

Vulcan Energy Corporation. As of December 31, 2005, Vulcan Energy Corporation (“Vulcan Energy”) and its affiliates owned approximately 54% of our general partner interest, as well as approximately 16.8% of our outstanding limited partner units. In August 2005, one of the owners of our general partner notified the remaining owners of its intent to sell its 19% interest in the general partner. The remaining owners elected to exercise their right of first refusal, such that the 19% interest was purchased pro rata by all remaining owners. As a result of the transaction, the interest of Vulcan Energy increased from 44% to approximately 54%. At the closing of the transaction, Vulcan Energy entered into a voting agreement that restricts its ability to unilaterally elect or remove our independent directors, and separately, our CEO and COO agreed, subject to certain ongoing conditions, to waive certain change-of- control payment rights that would otherwise have been triggered by the increase in Vulcan Energy’s ownership interest. These ownership changes to our general partner had no impact on us. On October 14, 2005, Plains All American GP LLC (“GP LLC”) and Vulcan Energy entered into an Administrative Services Agreement, effective as of September 1, 2005 (the “Services Agreement”). Pursuant to the Services Agreement, GP LLC will provide administrative services to Vulcan Energy for consideration of approximately $650,000 per year, plus certain expenses. The Services Agreement will be effective for a period of three years, at which time it will automatically renew for successive one-year periods unless either party provides written notice of its intention to terminate the Services Agreement. Pursuant to the agreement, Vulcan Energy has appointed certain employees of GP LLC as officers of Vulcan Energy for administrative efficiency. Under the Services Agreement, Vulcan Energy acknowledges that conflicts may arise between itself and GP LLC. If GP LLC believes that a specific service is in conflict with the best interest of GP LLC or its affiliates then GP LLC is entitled to suspend the provision of that service and such a suspension will not constitute a breach of the Services Agreement. Vulcan Gas Storage LLC (discussed below) operates separately from Vulcan Energy, and we do not provide any services to Vulcan Gas Storage LLC under the Services Agreement. Until August 12, 2005, Vulcan Energy owned 100% of Calumet Florida L.L.C. (“Calumet”). Calumet is now owned by Vulcan Resources Florida, Inc...
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Vulcan Energy Corporation. As of December 31, 2009, Vulcan Energy Corporation (“Vulcan Energy”) and its affiliates owned approximately 50% of our general partner interest, as well as approximately 9% of our outstanding limited partner units.
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Vulcan Energy Corporation. As of December 31, 2008, Vulcan Energy Corporation (‘‘Vulcan Energy’’) and its affiliates owned approximately 50% of our general partner interest, as well as approximately 10% of our outstanding limited partner units. remaining owners. As a result of the transaction, Vulcan Energy’s ownership interest increased from 44% to over 50%. At the closing of the transaction, Vulcan Energy entered into a voting agreement that restricts its ability to unilaterally elect or remove our independent directors, and separately, our CEO and COO agreed, subject to certain ongoing conditions, to waive certain change-of-control payment rights that would otherwise have been triggered by the increase in Vulcan Energy’s ownership interest. These ownership changes to our general partner had no material impact on us. Another owner of Plains All American GP LLC, Lynx Holdings I, LLC, agreed to restrict certain of its voting rights with respect to its approximate 1.2% membership interest in Plains All American GP LLC.
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Vulcan Energy Corporation. By: -------------------------------------- Name: Title:
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Vulcan Energy Corporation. In December 2010, Vulcan Energy Corporation (“Vulcan Energy”) sold its 50.1% ownership interest in our general partner. Substantially all of the interest sold was acquired by existing owners of our general partner or their affiliates. Vulcan Energy retained its limited partner interest in us. As of December 31, 2010, Vulcan Energy owned approximately 9% of our outstanding limited partner units.
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Related to Vulcan Energy Corporation

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  • S Corporation The Company has not made an election to be taxed as an "S" corporation under Section 1362(a) of the Code.

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  • Investment Company; Public Utility Holding Company Neither the Company nor any Subsidiary is an "investment company" or a company "controlled" by an "investment company" within the meaning of the Investment Company Act of 1940, as amended, or a "public utility holding company" within the meaning of the Public Utility Holding Company Act of 1935, as amended.

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