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Title: |
Administrative Services Agreement |
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Entities: |
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Date: |
2003 |
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Size: |
Preview shows 6KB of 30KB total |
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Price: |
$46 |
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ID: |
#643613 |
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ADMINISTRATIVE SERVICES AGREEMENT
THIS ADMINISTRATIVE SERVICES AGREEMENT (this "Agreement") is entered
into effective as of January 1, 2003 and is by and between EOTT ENERGY LLC, a
Delaware limited liability company (the "Administrator") and EOTT ENERGY GENERAL
PARTNER, L.L.C., a Delaware limited liability company (the "Partnership General
Partner") and the general partner of EOTT Energy Liquids, L.P., EOTT Energy
Operating Limited Partnership, EOTT Energy Pipeline Limited Partnership and EOTT
Energy Canada Limited Partnership (collectively, the "Partnerships").
RECITALS:
The Partnership General Partner has been vested with all management
powers over the business and affairs of the Partnerships.
The Partnership General Partner proposes to contract with the
Administrator for the provision of services in connection with the day-to-day
business and affairs of the Partnerships and any other Person (as defined below)
that may become a Partnership (as defined below) in the future.
The Administrator and the Partnership General Partner desire by their
execution of this Agreement to evidence their understanding with respect to the
terms and conditions upon which the Administrator and its Affiliates (as defined
below) will provide services on behalf of the Partnership General Partner to any
Partnership in connection with the day-to-day business and affairs of such
Partnership.
NOW, THEREFORE, in consideration of the premises and the covenants,
conditions, and agreements contained herein, and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the
parties hereto hereby agree as follows:
ARTICLE I
DEFINITIONS
1.1 DEFINITIONS. Capitalized terms used herein but not defined
elsewhere shall have the following meanings.
"Affiliate" means, with respect to any Person, any other Person that
directly or indirectly controls, is controlled by or is under common control
with, the Person in question; provided however, that for the purposes of this
Agreement, the Partnership General Partner and any Person controlled by the
Partnership General Partner or any Partnership shall be deemed not to be
Affiliates of the Administrator.
"Partnership" shall mean the Partnerships and any other partnership or
other entity of which the Partnership General Partner becomes the general
partner, managing general partner or manager or for which it becomes responsible
for performing similar management functions.
"Person" means an individual or a corporation, partnership, trust,
unincorporated organization, association or other entity.
ARTICLE II
SERVICES
2.1 TERM; SERVICES. In exchange for the reimbursement described in
Section 3.1, the Administrator agrees to provide the Partnership General Partner
with the administrative services listed below and such additional services as
the Partnership General Partner may establish and authorize the
{PAGE}
Administrator to provide from time to time (the services to be provided by the
Administrator being herein referred to as the "Services"):
(i) The day-to-day supervision, administrative liaison and related
services, including, without limitation legal, accounting,
planning support, budgeting support, technical, insurance
administration, treasury services, tax and external audit
services required in connection with the business and affairs
of the Partnership General Partner and the Partnerships.
(ii) The commercial, marketing and operations support required to
conduct the commercial activities and operations of the
Partnerships.
(iii) The preparation for signature by an authorized officer of all
documents and instruments required to be signed by or
otherwise appropriate for signature by the Partnership General
Partner.
(iv) The maintenance of capital accounts for each owner of any
Partnership that is required to maintain capital accounts.
(v) The calculation of available cash of any Partnership that is
required to do so and the making of all distributions of cash
authorized by the Partnership General Partner or otherwise
required to be made.
(vi) The taking or provision of custody of funds, notes, drafts,
acceptances, commercial paper and other securities belonging
to any Partnership; maintain bank accounts in one or more
banking institutions; deposit funds of the Partnership General
Partner or any Partnership in its respective accounts and
disburse funds therefrom, in each case as necessary to satisfy
the obligations of each of them in connection with the conduct
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