Audit and Conflicts Committee definition

Audit and Conflicts Committee means a committee of the Board of Directors of the General Partner composed entirely of three or more directors who meet the independence, qualification and experience requirements of the New York Stock Exchange and Section 10A(m)(3) of the Securities Exchange Act of 1934 and the rules and regulations thereunder, and at least two of whom also meet the S&P Criteria.

Audit and Conflicts Committee means a committee of the board of directors of the MLP General Partner composed entirely of two or more directors who are neither security holders, officers nor employees of the MLP General Partner nor officers, directors or employees of any Affiliate of such entity.

Audit and Conflicts Committee means a committee of the Board of Directors of EPE GP, EPD GP. DEP Holdings or TPP GP, as applicable, composed entirely of three or more directors who meet the independence, qualification and experience requirements established by the Securities Exchange Act and the rules and regulations of the Commission thereunder and by The New York Stock Exchange, and with respect to EPD GP and TPP GP, at least two of whom also meet the S&P Criteria.

Examples of Audit and Conflicts Committee in a sentence

• The Board shall have an Audit and Conflicts Committee (“ACC”), a Governance Committee, and such other committees as the Board may determine from time to time.

• At every meeting of any such committee, the presence of a majority of all the members thereof shall constitute a quorum and the affirmative vote of a majority of the members present shall be necessary for the adoption by it of any resolution (except for obtaining Special Approval at meetings of the Audit and Conflicts Committee, which requires the affirmative vote of a majority of the members of such committee).

• In the absence or disqualification of a member of a committee, the member or members present at any meeting and not disqualified from voting, whether or not constituting a quorum, may unanimously appoint another member of the Board of Directors to act at the meeting in the place of the absent or disqualified member; provided, however, that any such replacement member of the Audit and Conflicts Committee must meet the standards for an Independent Director.

• The Board of Directors may designate one or more Directors as alternate members of any committee who may replace any absent or disqualified member at any meeting of such committee; provided, however, that any such designated alternate of the Audit and Conflicts Committee must meet the standards for an Independent Director.

• In acting or otherwise voting on the matters referred to in this Section 6.02(e)(ii), to the fullest extent permitted by law, including Section 18-1101(c) of the Act and Section 17-1101(c) of the Delaware Revised Uniform Limited Partnership Act, as amended from time to time, the Directors constituting the Audit and Conflicts Committee shall consider only the interest of the Company or the MLP, as applicable, including its respective creditors.

More Definitions of Audit and Conflicts Committee

Audit and Conflicts Committee means a committee of the Board of Directors of the General Partner composed entirely of two or more directors who are neither members, officers nor employees of the General Partner nor members, officers, directors or employees of any Affiliate of the General Partner.

Audit and Conflicts Committee has the meaning given such term in the Partnership Agreement.

Audit and Conflicts Committee has the meaning assigned to such term in Section 6.2(e)(ii).

Audit and Conflicts Committee means a committee of the Board of Directors of the General Partner composed entirely of three or more directors who meet the independence, qualification and experience requirements of the New York Stock Exchange, and at least two of whom also meet the S&P Criteria.

Audit and Conflicts Committee means the Audit and Conflicts Committee or other governing body of Enterprise Partners. “Best Efforts” as used herein means reasonable best efforts in accordance with reasonable commercial practice.

Audit and Conflicts Committee means, with respect to each General Partner, a committee of the Board of such General Partner, composed entirely of three or more directors who meet the independence, qualification and experience requirementsestablished by the Securities Exchange Act and the rules and regulations of the Commission thereunder and by The New York Stock Exchange, and, to the extent required under the Partnership Agreement of the applicable Partnership, at least two of whom also meet the S&P Criteria.

Audit and Conflicts Committee means the Audit and Conflicts Committee or other governing body of Enterprise Partners.