Pipeline Lease definition
Examples of Pipeline Lease in a sentence
The purchaser under the MGP Equity Sale, in its capacity as lessee and operator of the MGP Pipeline pursuant to the MGP Pipeline Lease.
All other terms used, but not otherwise defined in this Amendment, shall have the meanings ascribed to such terms in the Pipeline Lease Agreement.
Except as provided herein, all of the provisions of the Pipeline Lease Agreement shall be and remain in full force and effect.
For the sake of clarity, the Expansion Lease provided for in this Section 4 of the Amendment would be in addition to the Initial Lease (as amended in this Amendment), the Second Lease, and the Option Lease provided for in the Pipeline Lease Agreement.
The Rent Amount for the Initial Lease, the Second Lease, the Option Lease, and any Expansion Lease shall be adjusted on each anniversary of the Execution Month as provided in Section 5.B of the Pipeline Lease Agreement (which is entitled “Base Rent Adjuster”).
Pursuant to Section 4(B)(2) of the Pipeline Lease Agreement (which is entitled “Option to Renew”), Alon hereby exercises the Second Lease Renewal Option, and the Second Lease Renewal Term shall expire on July 31, 2020.
Section 24 of the Pipeline Lease Agreement (which is entitled “EARLIER TERMINATION”) is hereby deleted in its entirety from the Pipeline Lease Agreement.
As used in this Amendment, the term the “pipeline” shall have the meaning ascribed to such term in Recital Paragraph A of the Pipeline Lease Agreement.
The Buyer's Pipeline Lease Guaranty shall be substantially in the form of the Pipeline Lease Guaranty, with the Buyer as guarantor; provided, however that Section 11 thereof shall be of no force or effect as long as the Pipeline Lease Guaranty is in full force and effect.
Following the distribution of the MGP Pipeline to CMGI, and subject to FERC approval, the proposed sale by CMGI to the MGP Pipeline Lessee/Operator of all of the Equity Interests in MGP and the contemporaneous execution of the MGP Pipeline Lease.