AMENDMENT TO MANAGEMENT SERVICES AGREEMENT
EXHIBIT 10.8
AMENDMENT TO MANAGEMENT SERVICES AGREEMENT
THIS AMENDMENT TO MANAGEMENT SERVICES AGREEMENT (“Amendment”) is made and entered into as of September 28, 2015 by and between Cheniere LNG Terminals, LLC, a Delaware limited liability company (the “Manager”), and Sabine Pass Liquefaction, LLC, a Delaware limited liability company (the “Project Company”). The Manager and Project Company are sometimes individually referred to as a “Party” and, collectively, referred to as the “Parties.”
Recitals
A. | Manager and Project Company are parties to the Management Services Agreement dated as of May 14, 2012 (“Agreement”); and |
B. | Manager and Project Company desire to amend the Agreement to among other things clarify the rights and obligations of the Parties under the Agreement regarding certain defined terms all as set forth herein. |
It is agreed:
1. Definitions
Capitalized terms used in or incorporated into this Amendment and not otherwise defined herein have the meanings given to them in the Agreement.
2. Amendments
2.1 Section 1.1 of the Agreement is amended by adding to said Section 1.1 the following defined terms:
“Centrica SPA” means the LNG Sale and Purchase Agreement (FOB) dated March 22, 2013 between the Project Company and Centrica plc.
“Investment Grade” means two long-term unsecured credit ratings that are equal to or better than (a) Baa3 by Xxxxx’x Investors Service, Inc., (b) BBB- by Standard & Poor’s Ratings Group, a division of XxXxxx-Xxxx, Inc., (c) BBB- by Fitch Ratings, Ltd., or (d) any comparable credit ratings by any other nationally recognized statistical rating organizations.
“Total SPA” means the LNG Sale and Purchase Agreement (FOB) dated December 14, 2012 between the Project Company and Total Gas & Power North America, Inc.
“Train 6” means the sixth liquefaction Train of the Facility.
“Train 6 SPA” means any LNG sale and purchase agreement executed by the Project Company with an Investment Grade buyer for delivery of LNG on an FOB basis from and after the date of first commercial delivery with respect to Train 6, which shall have terms and conditions (taken as a whole) substantially similar to the LNG SPAs.
2.2 Section 1.1 of the Agreement is further amended by amending the following defined terms to read as follows:
“Capacity Charge” means (a) with respect to the BG SPA and the GN SPA, the Monthly Sales Charge, as defined thereunder, and (b) with respect to the Kogas SPA, the GAIL SPA, the Total SPA, the Centrica SPA and any Train 6 SPA, the constant component “Xy” of the contract sales price thereunder.
“LNG SPA” means each of the following LNG sale and purchase agreements entered into by Project Company as seller of LNG: (a) the BG SPA, (b) the GN SPA, (c) the Kogas SPA, (d) the GAIL SPA, (e) the Total SPA, (f) the Centrica SPA and (g) any Train 6 SPA.
2.3 Article 1 of the Agreement is further amended by adding a new section 1.2 thereto reading as follows:
1.2 References to any agreement or instrument mean such agreement or instrument as it may be amended and restated or otherwise modified.
2.4 All provisions of the Agreement not specifically amended hereby shall remain in full force and effect.
3. Miscellaneous
3.1 Dispute Resolution. The provisions of Article 8 (Remedies and Dispute Resolution) of the Agreement shall apply to this Amendment as if incorporated herein mutatis mutandis on the basis that references therein to the Agreement are to this Amendment.
3.2 Governing Law. This Amendment shall be governed, construed and enforced in accordance with the laws of the State of Texas.
3.3 Entire Agreement. The Agreement, as amended by this Amendment, constitutes the entire agreement between the Parties and includes all promises and representations, express or implied, and supersedes all other prior agreements and representations, written or oral, between the Parties relating to the subject matter thereof.
3.4 Amendments and Waiver. This Amendment may not be supplemented, amended, modified or changed except by an instrument in writing signed by both Parties and the Executive Committee of Cheniere Energy Partners GP, LLC (the “Executive Committee”) and expressed to be a supplement, amendment, modification or change to the Agreement. A Party shall not be deemed to have waived any right or remedy under this Amendment by reason of such Party's failure to enforce such right or remedy.
3.5 Counterparts. This Amendment may be executed in counterparts and each such counterpart shall be deemed an original Amendment for all purposes, provided that neither Party shall be bound to this Amendment unless and until both Parties and the Executive Committee have executed a counterpart.
IN WITNESS WHEREOF, the Parties and the Executive Committee have executed this Amendment as of the date first above written.
Manager:
Cheniere LNG Terminals, LLC | ||
By: | /s/ Xxxx X. Xxxxx | |
Name: | Xxxx X. Xxxxx | |
Title: | Treasurer | |
Project Company:
By: | /s/ Xxxx X. Xxxxx | |
Name: | Xxxx X. Xxxxx | |
Title: | Treasurer | |
Executed by the following members of the Executive Committee solely in their capacities as members of the Executive Committee as required by Section 13.1 of the Agreement.
/s/ Xxxxx Xxxx | |
Xxxxx Xxxx | Sep 28, 2015 |
/s/ Xxxx Xxxxxxxx | |
Xxxx Xxxxxxxx | Sep 28, 2015 |
/s/ Xxxx Xxxxx | |
Xxxx Xxxxx | Sep 25, 2015 |
/s/ Xxxx-Xxxx X. Xxxxx | |
Xxxx-Xxxx X. Xxxxx | Sep 28, 2015 |
/s/ Xxxxxxx X. Xxxxxxx | |
Xxxxxxx X. Xxxxxxx | Sep 25, 2015 |
