Enterprise Texas definition
Examples of Enterprise Texas in a sentence
Enterprise Gas Processing, LLC Delaware 100.00 % Enterprise GTM Holdings L.P. Delaware 100.00 % Enterprise Hydrocarbons L.P. Delaware 100.00 % Enterprise Field Services, L.L.C. Delaware 100.00 % Enterprise Products Texas Operating L.P. Delaware 100.00 % Enterprise Texas Pipeline L.P. Delaware 100.00 % Mapletree, LLC Delaware 100.00 % Mid-America Pipeline Company, LLC Delaware 100.00 % None.
Each of Enterprise Holding III and Enterprise GTM as members and partners hereby acknowledge, approve and consent to the foregoing assignments and to the conversion of the existing membership interests of Enterprise Texas and general and limited partner interests in Enterprise GC and Enterprise Intrastate, effective at the Closing, into the Subject Interests and other equity interests, in each case as set forth in the Amended and Restated Agreements.
With respect to such interest and rights in Mont Belvieu retained by EPCO, EPCO agrees that until such time as EPCO's rights as a "partner" in Mont Belvieu are transferred to Enterprise Texas and Enterprise Texas is admitted to Mont Belvieu as a partner, EPCO agrees to refrain from exercising or waiving any of its rights as a "partner" in Mont Belvieu without the prior approval of Enterprise Texas, and will exercise or waive its rights, and vote its partnership interest, as directed by Enterprise Texas.
Enterprise GTM, OLP and Enterprise Holding III shall enter into an Amended and Restated Limited Liability Company Agreement of Enterprise Texas in the form set forth as Exhibit A hereto to (i) admit OLP as a member of Enterprise Texas and (ii) reflect the assignment by Enterprise GTM of the Class A membership interests.
As of the date of this Agreement, Enterprise GTM directly owns a 99.0% limited partner interest in Enterprise GC and Enterprise Intrastate and 99.0% of the membership interests of Enterprise Texas.
With respect to such interest and rights in Mont Belvieu retained by EPCO, EPCO agrees that until such time as EPCO's rights as a "partner" in Mont Belvieu are transferred to Enterprise Texas and Enterprise Texas is admitted to Mont Belvieu as a partner, EPCO agrees to refrain from exercising or waiving any of its rights as a "partner"" in Mont Belvieu without the prior approval of Enterprise Texas, and will exercise or waive its rights, and vote its partnership interest, as directed by Enterprise Texas.
Enterprise Holding III owns a 1.0% member interest in Enterprise Texas, a 1.0% general partner interest in Enterprise Intrastate and a 1.0% general partner interest in Enterprise GC.
Enterprise GTM owns a 99.0% member interest in Enterprise Texas Pipeline, LLC (“Enterprise Texas”), a 99.0% limited partner interest in Enterprise Intrastate, LP (“Enterprise Intrastate”) and a 99.0% limited partner interest in Enterprise GC, LP (“Enterprise GC”).
Enterprise Holding III directly owns a 1.0% general partner interest in Enterprise GC and Enterprise Intrastate and 1.0% of the membership interests of Enterprise Texas (the “Outstanding Interests”), all of which outstanding interests are duly and validly issued, fully paid and nonassessable and free of any preemptive rights except as set forth in the Charter Documents of each Subject Entity.
EPO, OLP and each of Enterprise Texas, Enterprise Intrastate and Enterprise GC shall enter into an Amended and Restated Omnibus Agreement, to add provisions regarding (i) guarantees by EPO of the obligations of Enterprise Holding III with respect to mandatory capital contributions to Enterprise Texas, and (ii) additional indemnity obligations of EPO to DEP.