CXY definition
Examples of CXY in a sentence
To avoid a potential dispute with Crest, Cheniere proposes to proceed now to cause its affiliates, joint ventures and subsidiaries that are involved in the LNG business, including Sabine and its partners, to assume and adopt the obligations of Cheniere and CXY under the Crest Settlement Agreement as contemplated under Section 1.07 of the Crest Settlement Agreement.
The Royalty obligations of CXY and Freeport shall be subordinated to, but only to, third party senior project financing of CXY on the terms set forth on Exhibit D hereto.
CXY is a corporation duly organized, validly existing and in good standing under the laws of the State of Delaware and has all requisite power and authority to own, lease and operate its assets and to carry on its business as it is now being conducted.
In the event that the actual Royalty paid during the First Production Year or any subsequent Production Year is found to be less than Two Million Dollars ($2,000,000), Cheniere and CXY shall jointly pay to Crest, on the First Adjustment Date and each subsequent Adjustment Date, as applicable, in immediately available funds, an amount equal to Two Million Dollars ($2,000,000) less the actual Royalty paid for such First Production Year or subsequent Production Year, as applicable.
CXY is duly qualified to do business in each jurisdiction in which such qualification is required, except where its failure to be qualified would not have a material adverse effect on its operations or financial condition.
OCC is the legal and beneficial owner of a 15% general partnership interest in CXY Chemicals U.S.A., and OxyChem (Canada) is the legal and beneficial owner of a 15% limited partnership interest in CXY Chemicals Canada Limited Partnership, in each case, free and clear of any liens, charges, encumbrances or rights of others (other than the rights of CanOxy under this agreement).
Upon the delivery to CXY of an assignment of the Interests as contemplated by this Agreement, and without the consent or approval of any other party, good and valid title to such Interests will be vested in CXY free and clear of all liens, options, charges, equities, encumbrances and claims of any kind.
There is no contract, option or other right of another Person binding upon or which at any time in the future may become binding upon Occidental or OCC in relation to the interest in CXY Chemicals U.S.A., or Occidental or OxyChem (Canada) in relation to the interest in CXY Chemicals Canada Limited Partnership (other than the interest of CanOxy under this agreement).
The Settlement and Purchase Agreement, dated as of June 14, 2001, by and among Cheniere, CXY Corporation, Crest Energy, L.L.C., Crest Investment Company and Freeport LNG Terminal, LLC.
Each such advisory member shall serve in an advisory role only and owe no fiduciary duty to Cheniere, CXY, their stakeholders, creditors, other stockholders or any of their affiliates.