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Section 4.19 Real Property
Section 4.20 No FERC Proceedings; Compliance With Pipeline Safety Act
Section 4.21 Regulatory Matters
Section 4.22 Transportation and Storage Contracts
Section 4.23 Effective and Pending Tariffs and Other Filings
Section 4.24 Personnel
Section 4.25 Books and Records
Section 4.26 Financial Derivatives/Hedging Agreements
Section 4.27 Bluewater PSA
Section 4.28 No Other Representations or Warranties
Section 4.29 No Undisclosed Liabilities
Section 4.30 Base Gas
Section 4.31 Bluewater Oil Reserves

ARTICLE V REPRESENTATIONS AND WARRANTIES RELATING TO BUYER

Section 5.1 Organization of Buyer; Authority
Section 5.2 Authorization; Enforceability
Section 5.3 No Conflict
Section 5.4 Litigation
Section 5.5 Brokers Fees
Section 5.6 Financial Ability
Section 5.7 Investment Representation
Section 5.8 Accredited Investor
Section 5.9 Independent Investigation

ARTICLE VI COVENANTS

Section 6.1 Conduct of Business
Section 6.2 Access
Section 6.3 Third-Party Approvals
Section 6.4 Regulatory Filings
Section 6.5 Employee and Benefit Matters
Section 6.6 Company Guarantees
Section 6.7 Intercompany Accounts
Section 6.8 Notice of Failure of Closing Conditions
Section 6.9 Seller Marks
Section 6.10 Books and Records
Section 6.11 Transitional Support
Section 6.12 Confidentiality
Section 6.13 Further Assurances; Duty to Cooperate
Section 6.14 Non-Solicitation of Employees
Section 6.15 Acquisition Agreements; Consent Order
Section 6.16 Certain Restrictions
Section 6.17 Title Commitments
Section 6.18 Conversion Transactions
Section 6.19 Tax Filings

ARTICLE I DEFINITIONS AND RULES OF CONSTRUCTION

Section 1.1 Definitions
Section 1.2 Rules of Construction

ARTICLE II PURCHASE AND SALE; CLOSING

Section 2.1 Purchase and Sale of Membership Interests
Section 2.2 Purchase Price
Section 2.3 The Closing
Section 2.4 Net Working Capital Reconciliation
Section 2.5 PPEC and BGS Expenditure Adjustments
Section 2.6 Bluewater Reserves

ARTICLE III REPRESENTATIONS AND WARRANTIES REGARDING SELLER

Section 3.1 Organization of Seller; Authority
Section 3.2 Authorization; Enforceability
Section 3.3 No Conflict
Section 3.4 Consents and Approvals
Section 3.5 Litigation
Section 3.6 Brokers Fees

ARTICLE IV REPRESENTATIONS AND WARRANTIES REGARDING THE COMPANY AND THE SUBSIDIARIES

Section 4.1 Organization of the Company and the Subsidiaries; Authority
Section 4.2 No Violation
Section 4.3 Capitalization of the Company
Section 4.4 Capitalization of the Subsidiaries
Section 4.5 Financial Statements
Section 4.6 Absence of Certain Changes
Section 4.7 Contracts
Section 4.8 Intellectual Property
Section 4.9 Litigation
Section 4.10 Employee Benefit Plans
Section 4.11 Taxes
Section 4.12 Environmental Matters
Section 4.13 Legal Compliance
Section 4.14 Permits
Section 4.15 Insurance
Section 4.16 Labor Relations and Employment Matters
Section 4.17 Assets
Section 4.18 Bank Accounts

Section 6.20 BGS LLC Contribution

ARTICLE VII TAX MATTERS

Section 7.1 Purchase Price Allocation
Section 7.2 Transfer Taxes
Section 7.3 Preparation and Filing of Tax Returns and Payment of Taxes