Citrus Merger means the merger of Citrus ETP Acquisition, L.L.C. with and into Cross Country Energy, LLC ("CCE") with CCE surviving as a subsidiary of ETP in accordance with the terms of that certain Amended and Restated Agreement and Plan of Merger, dated as of July 19, 2011, by and between ETE and ETP, as amended by Amendment No. 1 thereto, dated as of September 14, 2011 and by Amendment No. 2 thereto, dated as of March 23, 2012.
The Company made certain customary representations, warranties, covenants and indemnities in the Citrus Merger Agreement.
Citrus Merger Agreement means the Amended and Restated Agreement and Plan of Merger, dated July 19, 2011, by and among the Partnership, Citrus ETP Acquisition, L.L.C., and Energy Transfer Equity, L.P., Southern Union Company and CrossCountry Energy, L.L.C., as it may be further amended.
As consideration for the Citrus Merger, Southern Union received from ETP $2.0 billion, consisting of $1.895 billion in cash and $105 million of common units representing limited partner interests in ETP.Immediately prior to the Effective Time, $1.45 billion of the total cash consideration received in respect of the Citrus Merger was contributed to Merger Sub in exchange for an equity interest in Merger Sub.
Immediately prior to the effective time of ETE's merger with Southern Union, ETE will assign and Southern Union will assume the benefits and obligations of ETE under the Citrus Merger Agreement (as described below).
Pursuant to the Citrus Merger Agreement, ETP Merger Sub was merged with and into CrossCountry Energy (the Citrus Merger), with CrossCountry Energy continuing as the surviving entity in the Citrus Merger as a wholly-owned subsidiary of ETP and, as a result thereof, ETP, through its subsidiaries, indirectly owns 50 percent of the outstanding capital stock of Citrus Corp.