Common use of EA Call Option Clause in Contracts

EA Call Option. (a) From time to time prior to the twelve-month anniversary of the Eastern Access Final In-Service Date (the “EA Call Option Deadline”), Enbridge Partners shall have the right to purchase, and EECI shall have the obligation to sell (the “EA Call Option”), a portion of the Series EA Limited Partner Interests held by EECI that represents, in the aggregate, up to fifteen percent (15%) of the total outstanding Series EA Partnership Interests in accordance with this Section 4.9. In considering whether to exercise the EA Call Option, the Board of Directors of Enbridge Energy Management, L.L.C. (the “EEM Board”) shall establish a committee of independent directors (an “Option Committee”) to make a recommendation to the EEM Board, on behalf of Enbridge Partners, whether to exercise the EA Call Option and the portion of Series EA Limited Partner Interests held by EECI that Enbridge Partners will purchase if the EA Call Option is exercised (not to exceed, in the aggregate, fifteen (15%) of the total outstanding Series EA Partnership Interests). The general partner of Enbridge Partners and the Managing General Partner of the Partnership and of each Series shall provide the Option Committee with all of the information that the Option Committee may reasonably request that is relevant to its determination.

EA Call Option. (a) From time to time prior to the twelve-month anniversary of the Eastern Access Final In-Service Date (the “EA Call Option Deadline”), Enbridge Partners shall have the right to purchase, and EECI shall have the obligation to sell (the “EA Call Option”), a portion of the Series EA Limited Partner Interests held by EECI that represents, in the aggregate, up to fifteen percent (15%) of the total outstanding Series EA Partnership Interests in accordance with this Section 4.94.10. In considering whether to exercise the EA Call Option, the Board of Directors of Enbridge Energy Management, L.L.C. (the “EEM Board”) shall establish a committee of independent directors (an “Option Committee”) to make a recommendation to the EEM Board, on behalf of Enbridge Partners, whether to exercise the EA Call Option and the portion of Series EA Limited Partner Interests held by EECI that Enbridge Partners will purchase if the EA Call Option is exercised (not to exceed, in the aggregate, fifteen (15%) of the total outstanding Series EA Partnership Interests). The general partner of Enbridge Partners and the Managing General Partner of the Partnership and of each Series shall provide the Option Committee with all of the information that the Option Committee may reasonably request that is relevant to its determination.