|
|
|
|
Document Preview Collateral Agency Agreement |
||||
|
|
||||
|
Click "Add to Cart" button to purchase document. |
||||
|
|
||||
|
Title: |
Collateral Agency Agreement |
|||
|
Entities: |
||||
|
Date: |
2002 |
|||
|
Size: |
Preview shows 10KB of 56KB total |
|||
|
Price: |
$46 |
|||
|
ID: |
#581267 |
|||
|
|
||||
|
||||
|
|
||||
|
Start of Preview |
||||
COLLATERAL AGENCY AGREEMENT
Among
WILLIAMS ENERGY PARTNERS L.P.,
WILLIAMS PIPE LINE COMPANY, LLC,
The Several Purchasers Parties Hereto
and
STATE STREET BANK AND TRUST COMPANY,
as Collateral Agent and Cash Escrow Agent
Dated as of October 1, 2002
================================================================================
{PAGE}
TABLE OF CONTENTS
{TABLE}
{CAPTION}
Page
----
{S} {C}
SECTION 1 DEFINITIONS........................................................ 1
1.1. Defined Terms.................................................. 1
1.2. Other Definitional Provisions.................................. 3
SECTION 2 APPOINTMENT OF COLLATERAL AGENT.................................... 3
2.1. Appointment of Collateral Agent by the Secured Parties......... 3
2.2. Exercise of Powers; Instructions of Required Holders, etc...... 4
SECTION 3 COLLATERAL ACCOUNTS; DISTRIBUTIONS................................. 4
3.1. The Collateral Account......................................... 4
3.2. Control of the Collateral Account.............................. 4
3.3. Investment of Funds Deposited in the Collateral Account........ 4
3.4. Application of Moneys.......................................... 5
3.5. Collateral Agent's Calculations................................ 5
3.6. Pro Rata Sharing............................................... 6
SECTION 4 THE CASH ESCROW ACCOUNT............................................ 6
4.1. Cash Escrow Account............................................ 6
4.2. Deposit of Cash Escrow Amounts................................. 6
4.3. Status of Cash Escrow Account Monies........................... 6
4.4. Disbursement of Cash Escrow Amounts............................ 7
4.5. Failure to Deposit Cash Escrow Amounts......................... 7
4.6. Cash Escrow Agent.............................................. 7
SECTION 5 THE COLLATERAL AGENT............................................... 7
{/TABLE}
{PAGE}
{TABLE}
{S} {C}
5.1. Compensation and Indemnification............................... 7
5.2. Rights of the Collateral Agent; Exculpatory Provisions......... 8
5.3. Delegation of Duties........................................... 9
5.4. Reliance by Collateral Agent................................... 9
5.5. Limitations on Duties of the Collateral Agent.................. 11
5.6. Resignation and Removal of the Collateral Agent................ 11
5.7. Status of Successor Collateral Agent........................... 12
5.8. Merger of the Collateral Agent................................. 12
SECTION 6 MISCELLANEOUS...................................................... 13
6.1. Notices........................................................ 13
6.2. No Waivers..................................................... 13
6.3. Amendments, Supplements and Waivers............................ 13
6.4. Headings....................................................... 13
6.5. Severability................................................... 13
6.6. Successors and Assigns......................................... 14
6.7. Governing Law.................................................. 14
6.8. Counterparts................................................... 14
6.9. Termination.................................................... 14
6.10. Inspection by Regulatory Agencies.............................. 14
6.11. Submission to Jurisdiction; Waivers............................ 14
6.12. Waivers of Jury Trial.......................................... 15
{/TABLE}
{PAGE}
COLLATERAL AGENCY AGREEMENT (this "Agreement"), dated as of October
1, 2002, among WILLIAMS ENERGY PARTNERS L.P., a Delaware limited partnership
(the "Guarantor"), WILLIAMS PIPE LINE COMPANY, LLC, a Delaware limited liability
company (the "Company"; together with the Company, the "Grantors"), the several
Purchasers (as defined in accordance with Section 1.1) party hereto and STATE
STREET BANK AND TRUST COMPANY, as collateral agent (the "Collateral Agent") and
cash escrow agent (the "Cash Escrow Agent").
W I T N E S S E T H:
- - - - - - - - - -
WHEREAS, to induce the Purchasers to purchase the Notes to be issued
by the Company upon the terms and subject to the conditions set forth in the
Note Purchase Agreement (as defined below) the Company has executed the Security
Agreement, dated as of the date hereof (the "Security Agreement"), by and among
the Grantors and the Collateral Agent;
WHEREAS, pursuant to the Security Agreement the Company has granted
certain Liens on its assets, and the Guarantor has pledged its membership
interests in the Company, to the Collateral Agent for the benefit of the holders
of Notes to secure the Obligations (as defined below);
WHEREAS, pursuant to the Note Purchase Agreement, the Purchasers
have severally agreed to purchase Notes issued by the Company upon the terms and
subject to the conditions set forth therein;
WHEREAS, the Company has agreed to deposit amounts equivalent to the
interest due on the Notes in an escrow account; and
WHEREAS, it is a condition precedent to the effectiveness of the
Note Purchase Agreement that the Grantors, the Collateral Agent and the Cash
Escrow Agent shall have executed and delivered this Agreement to the Purchasers;
NOW, THEREFORE, in consideration of the premises and for other good
and valuable consideration receipt of which is hereby acknowledged, the
Grantors, the Purchasers, the Collateral Agent and the Cash Escrow Agent hereby
agree as follows:
SECTION 1
DEFINITIONS
1.1. Defined Terms. As used in this Agreement, terms defined in the
Note Purchase Agreement and used herein shall (unless otherwise defined herein)
have the meanings assigned to such terms in the Note Purchase Agreement, and the
following terms have the following meanings (such meanings to be equally
applicable to both the singular and plural forms of the terms defined):
"Agreement" shall mean this Collateral Agency Agreement, as the same
may be amended, supplemented or otherwise modified from time to time.
{PAGE}
2
"Cash Escrow Account" shall have the meaning assigned to such term
in Section 4.1.
"Cash Escrow Amount" shall have the meaning assigned to such term in
Section 4.2.
"Cash Proceeds" shall mean all Proceeds of Collateral consisting of
cash, checks, credit card proceeds, money orders or commercial paper of
any kind whatsoever.
"Code" shall mean the Uniform Commercial Code as in effect in the
State of New York from time to time.
"Collateral" shall mean all assets, property and interests, now
owned or hereafter acquired, upon which a Lien is purported to be created
by any Security Document.
"Collateral Account" shall have the meaning assigned to such term in
Section 3.3 hereof.
"Company" shall have the meaning assigned to such term in the
preamble to this Agreement.
"Distribution Date" shall mean each date fixed by the Collateral
Agent (at the instruction of the Required Holders) for a distribution to
the Secured Parties of funds held in the Collateral Account.
"Note Purchase Agreement" means the Note Purchase Agreement, dated
as of October 1, 2002, among Williams GP LLC, the Grantors and each of the
|
End of Preview |
Home Intelligence Services Subscriptions News About Us