Splitter Assets Clause Samples

Splitter Assets. The "Splitter Assets" are described below in subsections (a) through (o) and are collectively, in whole or in part, hereinafter referred to as the "Splitter Assets" or individually as a "Splitter Asset." (a) The "P/P Splitter Facility," which is the propane/propylene fractionation facilities, as constructed, altered, or enlarged by its owners or their predecessors in title, and located on the Ground Lease. The P/P Splitter Facility includes the dehydrators and all tanks, machinery, equipment, fixtures, appliances, pipes and valves, fittings, materials, supplies, parts, buildings, and other rights, titles, benefits, interests, and privileges (including, without limitation, air emission credits) located on the Ground Lease and used in connection with the ownership or operation of the P/P Splitter Facility except as set forth on Schedule 2.02(a)-I hereto. The P/P Splitter Facility is described in more detail on Schedule 2.02(a)-II hereto. D-K I owns an undivided sixty-six and sixty-six one-hundredths percent (66.66%) interest in the P/P Splitter Facility. Such undivided 66.66% interest in the P/P Splitter Facility constitutes the "Splitter Assets" under this Section 2.02(a). (b) D-K LLC's undivided fifty percent (50%) membership interest in La Porte GP and D-K III's undivided forty-nine point five percent (49.5%) limited partnership interest in La Porte LP. La Porte LP is the sole owner of the "La Porte Pipeline" which is a private carrier pipeline with a 12.75-inch outside diameter with a design capacity of eight to nine billion (8,000,000,000 to 9,000,000,000) pounds of PGP per year and extending approximately seventeen (17) miles from a point near the P/P Splitter Facility to the MCO Station, and an 8.625-inch outside diameter lateral approximately one-fourth (1/4) mile in length to ATOFINA Petrochemicals, Inc.'s complex near La Porte, Texas, and includes a meter station owned by La Porte LP at the ATOFINA complex. The membership and limited partnership interests in La Porte GP and La Porte LP constitute the "Splitter Assets" under this Section 2.02(b). The La Porte Pipeline includes all easements, rights-of-way, servitudes, permits, and/or licenses pertaining thereto and all tanks, machinery, equipment, fixtures, appliances, pipes and valves, fittings, materials, supplies, parts, and other rights, titles, benefits, interests and privileges (including, without limitation, air emission credits) located on the La Porte Pipeline property and used or required ...