Midstream Project Opportunity definition
Midstream Project Opportunity means an opportunity or project (a) that is either (i) a commercial proposal, prospect, solicitation, deal, transaction or opportunity relating to the Business, whether within or outside of the Area of Interest, or (ii) a capital enhancement or capital expansion, or series of related capital enhancements or capital expansions, of any existing assets of the Company or any of its Subsidiaries and (b) that involves aggregate anticipated expenditures which, when adjusted to account for the proportion thereof attributable to the Company (based on the Company’s direct or indirect ownership thereof), equal to $5,000,000 or more for the Company or its Subsidiaries.
Midstream Project Opportunity means an opportunity or project (a) that is either (i) a commercial proposal, prospect, solicitation, deal, transaction or opportunity relating to the Business, whether within or outside of the Area of Interest, or (ii) a capital enhancement or capital expansion, or series of related capital enhancements or capital expansions, of any existing assets of the Company or any of its Subsidiaries (including Jackalope LLC or its Subsidiaries) and (b) that involves aggregate anticipated expenditures which, when adjusted to account for the proportion thereof attributable to the Company (based on the Company’s direct or indirect ownership thereof), equal to *** or more for the Company or its Subsidiaries unless such project is to be undertaken by Jackalope LLC or its Subsidiaries prior to a Conversion, in which case it must involve aggregate anticipated expenditures which, when adjusted to account for the proportion thereof attributable to the Company (based on the Company’s direct or indirect ownership thereof), equal to *** or more. SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT OF THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN SEPARATELY SUBMITTED TO THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH THREE ASTERISKS (***). “MLP” has the meaning set forth in the definition of “Public Offering.” -13- “National Securities Exchange” means an exchange registered with the United States Securities and Exchange Commission under Section 6(a) of the Securities Exchange Act of 1934, or any successor statute. “Non-Funding Member” has the meaning set forth in Section 4.03(c)(i). “Nonparty Affiliates” has the meaning set forth in Section 6.05. “Nonrecourse Deductions” has the meaning set forth in Treasury Regulations Sections 1.704-2(b)(1) and 1.704-2(c). “Nonrecourse Liability” has the meaning set forth in Treasury Regulations Sections 1.704-2(b)(3) and 1.752-1(a)(2). “Offered Units” has the meaning set forth in Section 3.03(a). “Offering Notice” has the meaning set forth in Section 3.03(b). “Partial Redemption” means any circumstance pursuant to which the Holdings Member has exercised its right under Section 4.06(d)(ii) to cause the Crestwood Member to acquire fewer than all of the then-outstanding Series A-2 Preferred Units and Series B Preferred Units. “Parties” means, collectively, the Members and CEQP, together with the successors and assigns of such Persons. “Payment Cure...
Midstream Project Opportunity means an opportunity or project (a) that is either (i) a commercial proposal, prospect, solicitation, deal, transaction or opportunity relating to the Business, whether within or outside of the Area of Interest, or (ii) a capital enhancement or capital expansion, or series of related capital enhancements or capital expansions, of any existing assets of the Company or any of its Subsidiaries (including Jackalope LLC or its Subsidiaries) and (b) that involves aggregate anticipated expenditures which, when adjusted to account for the proportion thereof attributable to the Company (based on the Company’s direct or indirect ownership thereof), equal to *** or more for the Company or its Subsidiaries unless such project is to be undertaken by Jackalope LLC or its Subsidiaries prior to a Conversion, in which case it must involve aggregate anticipated expenditures which, when adjusted to account for the proportion thereof attributable to the Company (based on the Company’s direct or indirect ownership thereof), equal to *** or more. SPECIFIC TERMS IN THIS EXHIBIT HAVE BEEN REDACTED BECAUSE CONFIDENTIAL TREATMENT OF THOSE TERMS HAS BEEN REQUESTED. THE REDACTED MATERIAL HAS BEEN SEPARATELY SUBMITTED TO THE SECURITIES AND EXCHANGE COMMISSION, AND THE TERMS HAVE BEEN MARKED AT THE APPROPRIATE PLACE WITH THREE ASTERISKS (***).
Examples of Midstream Project Opportunity in a sentence
Notwithstanding anything herein to the contrary, the Company shall be permitted (but not required) to pursue and effect a De Minimis Midstream Project Opportunity without the consent of the Holdings Member.
In the event that, prior to a Conversion, the Crestwood Member (i) does not elect to require an Accordion Capital Contribution in respect of an Agreed Midstream Project, or (ii) causes the Company to pursue a De Minimis Midstream Project Opportunity or Crestwood Scheduled Project pursuant to Section 6.03(e) and Section 6.03(f), respectively, any Capital Contribution required in connection therewith shall be considered a Crestwood Additional Capital Contribution.