Midcoast Operating definition

Midcoast Operating means Midcoast Operating, L.P., a Texas limited partnership whose sole general partner is, as of the closing date of the MEP IPO Transaction, a Wholly-Owned Subsidiary of MEP and of which the Borrower owns, as of the closing date of the MEP IPO Transactions, approximately 61% of the limited partner interests.

Examples of Midcoast Operating in a sentence

  • During any quarter until the quarter ending December 31, 2017, if MEP’s quarterly declared distribution exceeds its distributable cash, as that term is defined in Midcoast Operating’s limited partnership agreement, we receive a decreased quarterly distribution from Midcoast Operating, and MEP receives a corresponding increase to its quarterly distribution in the amount that MEP’s declared distribution exceeds its distributable cash.

  • There is no requirement for MEP to compensate us for these adjusted distributions, except for settling our capital accounts with Midcoast Operating in a liquidation scenario.

  • Midcoast Operating’s adjustment of our distribution will be limited by our pro rata share of the Midcoast Operating quarterly cash distribution and a maximum of $0.005 per unit quarterly distribution increase by MEP.

  • This sale included our 48.4% limited partnership interest in Midcoast Operating, L.P., our 51.9% limited partnership interest in MEP, and our 100% interest in Midcoast Holdings, L.L.C., MEP’s general partner.

  • Midcoast Operating, L.P. Midcoast Operating is a Texas limited partnership.

  • In addition, MEP is the entity within the related party group that is most closely associated with Midcoast Operating.

  • As discussed above, we consolidate MEP, and by extension also consolidate Midcoast Operating.

  • For the three and nine months ended September 30, 2016, our quarterly distribution from Midcoast Operating was reduced by $5.1 million and $8.2 million, respectively.

  • Midcoast Operating will pay $14.4 million to us and $26.0 million to MEP.

  • Midcoast Operating Distribution On October 27, 2016, the general partner of Midcoast Operating declared a cash distribution by Midcoast Operating payable on November 14, 2016 to its partners of record as of November 7, 2016.

Related to Midcoast Operating

  • market operator means a person or persons who manages and/or operates the business of a regulated market. The market operator may be the regulated market itself;

  • food business operator means the natural or legal persons responsible for ensuring that the requirements of food law are met within the food business under their control;

  • Operating Company means an “operating company” within the meaning of 29 C.F.R. §2510.3-101(c) of the Plan Asset Regulations.

  • co-operative means a co-operative registered in terms of section 7 of Cooperatives Act, 2005 (Act No. 14 of 2005)

  • Farm operation means any activity conducted solely or primarily for the production of one or more agricultural products or commodities, including timber, for sale or home use, and customarily producing such products or commodities in sufficient quantity to be capable of contributing materially to the operator's support.

  • Joint Operating Agreement (JOA) means the operating and participating agreement between the Parties constituting the Contractor that governs their operational activities, obligations and responsibilities under this Contract,

  • Network Operating Agreement means an executed agreement that contains the terms and conditions under which the Network Customer shall operate its facilities and the technical and operational matters associated with the implementation of Network Integration Transmission Service under Tariff, Part III.

  • Market Operations Center means the equipment, facilities and personnel used by or on behalf of a Market Participant to communicate and coordinate with the Office of the Interconnection in connection with transactions in the PJM Interchange Energy Market or the operation of the PJM Region.

  • independent operator means undertakings other than authorised dealers and repairers which are directly or indirectly involved in the repair and maintenance of vehicles, in particular repairers, manufacturers or distributors of repair equipment, tools or spare parts, publishers of technical information, automobile clubs, roadside assistance operators, operators offering inspection and testing services, operators offering training for installers, manufacturers and repairers of equipment for alternative fuel vehicles;

  • airport operator A natural or legal person authorized to manage or operate an airport. “Airport Tax” It is the amount charged to a Passenger for the use of the airport facilities that can be collected by THE CARRIER with prior authorization, either on the ticket or at each airport, and must be paid by the Passenger. “Airway Ticket or Ticket” (GENERAL DEFINITION). It is the document issued by THE CARRIER or its Authorized Agent as written proof of the transportation agreement. The term that will be used in this Agreement is ticket.

  • joint operation means 2 or more joint holders must authorise any withdrawal, payment or transfer from the account (including a direct debit)

  • Operating or "Operation" means to provide (or the provision of) all the operation, engineering, purchasing, repair, supervision, training, inspection, testing, protection, use, management, improvement, replacement, refurbishment, retirement, and maintenance activities associated with operating the Generating Facility in accordance with Prudent Electrical Practices.

  • Production company means a person or entity engaged in the business of making motion picture, television, or radio images for theatrical, commercial, advertising, or education purposes; Reserved

  • aircraft operator means a person that operated at least 729 commercial air transport flights departing from Union airports in the reporting period or, where that person may not be identified, the owner of the aircraft;

  • Business operations means engaging in commerce in any form, including by acquiring, developing, maintaining, owning, selling, possessing, leasing, or operating equipment, facilities, personnel, products, services, personal property, real property, or any other apparatus of business or commerce.

  • Project Company means Company incorporated by the bidder as per Indian Laws in accordance with Clause no 3.5.

  • Project Operational Manual means the Project Operational Manual, to be adopted in accordance with Section 6.01 (a) of this Agreement, giving details of guidelines and procedures agreed with the Association for the implementation, supervision, and monitoring and evaluation, of the Project, and the procurement procedures and guidelines for Sub-Projects, as same may be amended from time to time in agreement with the Association, and such term includes any schedules to the Project Operational Manual;

  • PJM Operating Agreement means the Amended and Restated Operating Agreement of PJM on file with the Commission.

  • Unit operating hour or "hour of unit operation" means an hour in which a unit combusts any fuel.

  • Operating Subsidiaries means, collectively, the Corporation and HST, each a wholly-owned subsidiary of the Trust, and "Operating Subsidiary" means either of the Corporation or HST, as applicable.

  • Pipeline means any pipe, pipes, or pipelines used for the intrastate transportation or transmission of any solid, liquid, or gaseous substance, except water.

  • Farming operation means raising, cultivating, propagating, fattening, grazing, or any other farming, livestock, or aquacultural operation.

  • economic operators means the manufacturer, the authorised representative, the importer and the distributor;

  • Station means an area served by one valve or by a set of valves that operate simultaneously.

  • train operator means any person who is authorised to act as the operator of a train by a licence under section 8 of the Railways Act 1993.

  • Restricted business operations means business operations in Sudan that include power production activities, mineral extraction activities, oil-related activities, or the production of military equipment, as those terms are defined in the Sudan Accountability and Divestment Act of 2007 (Pub. L. 110-174). Restricted business operations do not include business operations that the person (as that term is defined in Section 2 of the Sudan Accountability and Divestment Act of 2007) conducting the business can demonstrate—