Page 7 - Adjusted Property
SPECTRA ENERGY PARTNERS, LP filed this Form 8-K on 1/22/2018
Property” means any property the Carrying Value of which has been adjusted pursuant to Section 5.3(d)(i) or Section 5.3(d)(ii).
means, with respect to any Person, any other Person that directly or indirectly through one or more intermediaries controls, is
controlled by or is under common control with, the Person in question. As used herein, the term “control” means the
possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether
through ownership of voting securities, by contract or otherwise.
means any allocation, other than a Required Allocation, of an item of income, gain, loss or deduction pursuant to the provisions
of Section 6.1, including a Curative Allocation (if appropriate to the context in which the term “Agreed Allocation”
of any Contributed Property means the fair market value of such property or other consideration at the time of contribution as
determined by the General Partner. The General Partner shall use such method as it determines to be appropriate to allocate the
aggregate Agreed Value of Contributed Properties contributed to the Partnership in a single or integrated transaction among each
separate property on a basis proportional to the fair market value of each Contributed Property.
means this Third Amended and Restated Agreement of Limited Partnership of Spectra Energy Partners, LP, as it may be amended, supplemented
or restated from time to time.
means a Person to whom one or more Limited Partner Interests have been transferred in a manner permitted under this Agreement and
who has executed and delivered a Transfer Application, including a Taxation Certification, as required by this Agreement, but who
has not been admitted as a Substituted Limited Partner.
means, when used to indicate a relationship with any Person, (a) any corporation or organization of which such Person is a director,
officer or partner or is, directly or indirectly, the owner of 20% or more of any class of voting stock or other voting interest;
(b) any trust or other estate in which such Person has at least a 20% beneficial interest or as to which such Person serves as
trustee or in a similar fiduciary capacity; and (c) any relative or spouse of such Person, or any relative of such spouse, who
has the same principal residence as such Person.
Cash” means, with respect to any Quarter ending prior to the Liquidation Date:
sum of (i) all cash and cash equivalents of the Partnership Group (or the Partnership’s proportionate share of cash and cash
equivalents in the case of Subsidiaries that are not wholly owned) on hand at the end of such Quarter, and (ii) if the General
Partner so determines, all or any portion of additional cash and cash equivalents of the Partnership Group (or the Partnership’s
proportionate share of cash and cash equivalents in the case of Subsidiaries that are not wholly owned) on hand on the date of
determination of Available Cash with respect to such Quarter, less