El Paso Corporation definition
Examples of El Paso Corporation in a sentence
El Paso Corporation has caused this note to be executed effective as of August 16, 2004.
On the Effective Date and not more than three months after each Measurement Date thereafter, El Paso Corporation shall deliver or cause to be delivered to the Designated Representative a report of one or more Independent Consultants addressed to the Designated Representative confirming the Reported Value of the Oil & Gas Collateral.
El Paso Corporation shall use its reasonable best efforts to cause the above-referenced amendment or new shelf registration statement to become effective as soon as possible after the date hereof and remain effective until the Effective Date.
The gross proceeds from such sale shall be deposited immediately by El Paso Corporation in the Escrow Account, where they shall be held in escrow pending the Effective Date.
The amount of a prepayment in full on or before the Effective Date shall be the Non-Investment Grade Discounted Amount if El Paso Corporation is not Investment Grade at the time of prepayment, and the Investment Grade Discounted Amount if El Paso Corporation is Investment Grade at the time of prepayment.
Each of the El Paso Settling Parties covenants and agrees that the Settlement Fund shall have the right, upon ninety (90) days prior written notice to, but without the consent of, El Paso Corporation, any other El Paso Settling Party, or any El Paso Pledgor, to sell, pledge or otherwise assign or convey in a Monetization or otherwise any or all of its interest in the Deferred Payments, together with its rights in the related Collateral, to one or more third parties.
The El Paso Settling Parties may, if El Paso Corporation is not then Investment Grade, prepay the Deferred Payments at any time after the Effective Date, but before the second anniversary of the Effective Date, by prepaying the full Discounted Amount then due, or any lesser desired amount.
Funds of the Partnership shall be deposited in such banks or other depositories as shall be designated from time to time by the Management Committee, which may include the El Paso Corporation cash management program.
Notwithstanding the foregoing, should the Designated Representative elect to sell the Stock through more than three (3) block trades, then El Paso Corporation may deduct the actual cost of commissions paid in effecting the fourth and subsequent trades from the proceeds of such block trades.
If this Agreement is terminated pursuant to Paragraph 10.1 or any other provision of this Agreement, then all amounts in the Escrow Account, including accrued interest, shall be returned to El Paso by the Escrow Agent within ten (10) Business Days after such termination, less an amount mutually determined by the Designated Representative and El Paso Corporation to be sufficient to cover any then outstanding settlement expenses El Paso is obligated to pay under Paragraph 4.1(i) of this Agreement.