Page 10 - Closing Price
SPECTRA ENERGY PARTNERS, LP filed this Form 8-K on 1/22/2018
means, in respect of any class of Limited Partner Interests, as of the date of determination, the last sale price on such day,
regular way, or in case no such sale takes place on such day, the average of the closing bid and asked prices on such day, regular
way, as reported in the principal consolidated transaction reporting system with respect to securities listed on the principal
National Securities Exchange (other than the Nasdaq National Market) on which the respective Limited Partner Interests are listed
or admitted to trading or, if such Limited Partner Interests are not listed or admitted to trading on any National Securities Exchange
(other than the Nasdaq National Market), the last quoted price on such day or, if not so quoted, the average of the high bid and
low asked prices on such day in the over-the-counter market, as reported by the Nasdaq National Market or such other system then
in use, or, if on any such day such Limited Partner Interests of such class are not quoted by any such organization, the average
of the closing bid and asked prices on such day as furnished by a professional market maker making a market in such Limited Partner
Interests of such class selected by the General Partner, or if on any such day no market maker is making a market in such Limited
Partner Interests of such class, the fair value of such Limited Partner Interests on such day as determined by the General Partner.
means the Internal Revenue Code of 1986, as amended and in effect from time to time. Any reference herein to a specific section
or sections of the Code shall be deemed to include a reference to any corresponding provision of any successor law.
Interest” has the meaning assigned to such term in Section 11.3(a).
means the United States Securities and Exchange Commission.
means a Partnership Security representing a fractional part of the Partnership Interests of all Limited Partners and Assignees,
and having the rights and obligations specified with respect to Common Units in this Agreement.
Committee” means a committee of the Board of Directors of the General Partner composed entirely of two or more directors,
each of whom (a) is not a security holder, officer or employee of the General Partner, (b) is not an officer, director or employee
of any Affiliate of the General Partner, (c) is not a holder of any ownership interest in the Partnership Group other than Common
Units and (d) meets the independence standards required of directors who serve on an audit committee of a board of directors established
by the Securities Exchange Act and the rules and regulations of the Commission thereunder and by the National Securities Exchange
on which the Common Units are listed or admitted to trading.
Property” means each property or other asset, in such form as may be permitted by the Delaware Act, but excluding cash,
contributed to the Partnership. Once the Carrying Value of a Contributed Property is adjusted pursuant to Section 5.3(d),
such property shall no longer constitute a Contributed Property, but shall be deemed an Adjusted Property.
Agreement” means that certain Contribution and Conveyance Agreement, dated as of the Closing Date, among the General
Partner, the Partnership, the Operating Partnership and certain other parties, together with the additional conveyance documents
and instruments contemplated or referenced thereunder, as such may be amended, supplemented or restated from time to time.