Examples of El Paso Entity in a sentence
Therefore, from and after the date of execution and delivery of this Agreement, Seller shall take all reasonable steps, including all steps that the Program Agent, any Managing Agent or any Investor may from time to time reasonably request, to maintain Seller’s identity as a separate legal entity and to make it manifest to third parties that Seller is an entity with assets and liabilities distinct from those of any El Paso Entity thereof and not just a division of a El Paso Entity.
Therefore, from and after the date of execution and delivery of this Agreement, Finance LLC shall take all reasonable steps, including all steps that Buyer (or its assigns) may from time to time reasonably request, to maintain Finance LLC’s identity as a separate legal entity and to make it manifest to third parties that Finance LLC is an entity with assets and liabilities distinct from those of any El Paso Entity thereof and not just a division of a El Paso Entity.
For the avoidance of doubt, the provisions of this Agreement shall not give rise to any right of recourse against any officer or director of any El Paso Entity or any Partnership Entity.
Effective as of the Effective Time, EP Energy hereby assumes El Paso’s rights and obligations arising under any retention agreements entered into by an El Paso Entity with an EP Energy Group Employee or any Former EP Energy Group Employee and agrees to honor the terms and conditions of those agreements as a successor under the terms of such agreements.
El Paso (or an El Paso Entity designated by El Paso) shall assume and satisfy all requirements under COBRA with respect to all El Paso Group Employees and Former Employees (and their respective qualified beneficiaries) who experience a “qualifying event” within the meaning of Section 4980B(f)(3) of the Code at any time.
None of the Sponsor, the Company nor any El Paso Entity is a "holding company" or a "subsidiary company" of a "holding company" or an "affiliate" of a "holding company" or of a "subsidiary company" of a "holding company" or a "public utility" within the meaning of the Public Utility Holding Company Act of 1935, as amended.
Except as otherwise set forth in this Agreement, effective not later than immediately following the Effective Time, the employment of each individual whose employment duties are to be primarily related to the business activities of the El Paso Group immediately after the Distribution (collectively, the “El Paso Group Employees”) shall be continued by an El Paso Entity or shall be assigned and transferred to an El Paso Entity (in each case as determined by El Paso).
A “Former El Paso Group Employee” shall mean any former Employee of any El Paso Entity or their predecessors, other than a Former EP Energy Group Employee.
El Paso shall also be permitted to retain copies of all restrictive covenant agreements with any EP Energy Group Employee in which any El Paso Entity has a valid business interest.
EP Energy shall have sole responsibility for the administration of the EP Energy Non-Employee Director Compensation Plan and the payment of benefits thereunder to or on behalf of EP Energy Directors and El Paso — EP Energy Directors, and no El Paso Entity shall have any liability or responsibility therefor.