Common use of Facility Payment Clause in Contracts

Facility Payment. Any amounts payable hereunder to any person under legal disability or who, in the judgment of the Committee, is unable to properly manage his financial affairs, may be paid to the legal representative of such person, or may be applied for the benefit of such person in any manner which the Committee may select, and CEP and its Affiliates shall be relieved of any further liability for payment of such amounts.

Appears in 13 contracts

Sources: Inducement Award Agreement, Inducement Award Agreement (Constellation Energy Partners LLC), Inducement Award Agreement (Constellation Energy Partners LLC)

Facility Payment. Any amounts payable hereunder to any person Person under legal disability or who, in the judgment of the Committee, is unable to manage properly manage his or her financial affairs, may be paid to the legal representative of such personPerson, or may be applied for the benefit of such person Person in any manner which that the Committee may select, and CEP the Partnership, the Company and its all of their Affiliates shall be relieved of any further liability for payment of such amounts.

Appears in 5 contracts

Sources: Retention Agreement (MPLX Lp), Retention Agreement (Marathon Petroleum Corp), Retention Agreement (MPLX Lp)

Facility Payment. Any amounts payable hereunder to any person under legal disability or who, in the judgment of the Committee, is unable to properly manage his financial affairs, may be paid to the legal representative of such person, or may be applied for the benefit of such person in any manner which the Committee may select, and CEP and its Affiliates the Company shall be relieved of any further liability for payment of such amounts.

Appears in 2 contracts

Sources: Option Agreement (Linn Energy, LLC), Option Agreement (Linn Energy, LLC)

Facility Payment. Any amounts payable hereunder to any person under legal disability or who, in the judgment of the Committee, is unable to manage properly manage his financial affairs, may be paid to the legal representative of such person, or may be applied for the benefit of such person in any manner which that the Committee may select, and CEP and its Affiliates the Partnership shall be relieved of any further liability for payment of such amounts.

Appears in 2 contracts

Sources: Long Term Incentive Plan (Energy Transfer LP), Long Term Incentive Plan (Energy Transfer Partners, L.P.)