Examples of PAGP Entities in a sentence
If GP LLC assumes the defense of any claim(s) pursuant to this Section 4.1, GP LLC shall allocate the cost of such defense between the PAGP Entities and the GP LLC Group on a fair and reasonable basis.
PAGP agrees, and agrees to cause the other PAGP Entities, to use the Names and the Marks in accordance with such quality standards established by PAA and communicated to PAGP from time to time, it being understood that the products and services offered by the PAGP Entities immediately before the date of this Agreement are of a quality that is acceptable to PAA and justify the License.
If any of the PAGP Entities or any member of the GP LLC Group is offered a business opportunity by a third party, or discovers a business opportunity, the PAGP Entity or member of the GP LLC Group that is offered or discovers such business opportunity shall promptly advise GP LLC and present such business opportunity to PAA.
The PAGP Entities represent and agree that they will use the GP LLC Services only in accordance with all applicable federal, state and local laws and regulations, and in accordance with the reasonable conditions, rules, regulations, and specifications that may be set forth in any manuals, materials, documents, or instructions furnished from time to time by GP LLC to such PAGP Entities.
References to our “general partner,” as the context requires, include any or all of the PAGP Entities.
References to the “Plains Entities” include us, our subsidiaries and the PAGP Entities.
As compensation for the provision by GP LLC of the GP LLC Services to the PAGP Entities, GP LLC shall be entitled to receive, and AAP agrees to pay to GP LLC, without duplication, $1.5 million annually (the “Administrative Services Fee”).
The Parties hereto desire, by their execution of this Agreement, to evidence the terms and conditions pursuant to which (i) GP LLC will provide certain services to the PAGP Entities and (ii) certain business opportunities will be allocated among the Parties.
It is contemplated that direct expenses for the PAGP Entities, other than income taxes payable by PAGP, will be paid by AAP.
In that regard, it is the intention of the Parties that the Administrative Services Fee, the Expense Reimbursement Fee and any other costs allocated to the PAGP Entities and paid by AAP hereunder represent fair and reasonable compensation to GP LLC for the PAGP Entities’ allocable share of all general and administrative expenses and other costs for services borne or performed by GP LLC for the benefit of any PAGP Entity.