Double E Joint Venture definition

Double E Joint Venture means Double E Pipeline, LLC, a Delaware limited liability company.

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Double E Joint Venture means, collectively, Double E, Summit Permian Transmission, Permian Holdco and their successors.

Double E Joint Venture means Double E Pipeline, LLC, a Delaware limited liability company. “Drawstop Equity Contributions” means any equity capital contributions made by any Sponsor during any Drawstop Period. “Drawstop Period” means any period in which the conditions precedent to the making of any Term Loan cannot be satisfied. “DSR Letter of Credit” means any irrevocable standby letter of credit, substantially in the form of Exhibit N-2 or such other form reasonably acceptable to the applicable L/C Issuer, the Borrower and the beneficiary thereof issued pursuant to Section 2.03(a)(ii)(B) by an L/C Issuer listed on Schedule 1.01A or an Acceptable L/C Issuer. “DSR Requirement” means as of any date of determination, the next six (6) months of principal and interest scheduled to be payable hereunder after such date of determination in respect of the Initial Term Loans and the Term Conversion Date Term Loans pursuant to Section 2.06(a)(i) and Section 2.07(a) (calculated by the Borrower using an assumed Eurocurrency Rate for the Interest Period in effect as of such date of determination) (as adjusted for settlement amounts under the Interest Rate Hedge Agreements). “DSRA Deficiency Event” occurs when, as of the last day of any fiscal quarter, the Funded DSR is less than the DSR Requirement. “DSRA Overfunding Event” occurs when the Funded DSR exceeds the DSR Requirement. “Early Opt-in Election” means, if the then-current Benchmark is the Eurocurrency Rate, the occurrence of: (a) a notification by the Administrative Agent to (or the request by the Borrower to the Administrative Agent to notify) each of the other parties hereto that at least ten (10) currently outstanding U.S. dollar-denominated syndicated credit facilities at such time contain (as a result of amendment or as originally executed) a SOFR-based rate (including SOFR, a term SOFR or any other rate based upon SOFR) as a 164 KE 73718588.20 US-DOCS\142539518.

Examples of Double E Joint Venture in a sentence

• Each of the Borrower and the Double E Joint Venture shall not take any action that is reasonably likely to result in its separate existence being ignored or in its assets and liabilities being substantively consolidated with any other Person in a bankruptcy, reorganization, or other insolvency proceeding.

• Representations and warranties of the Borrower and the Double E Joint Venture with respect to environmental matters are limited to those in this Section 5.08 unless expressly stated.

• The Borrower and the Double E Joint Venture have instituted and maintain or are subject to policies and procedures designed to promote and achieve continued compliance with applicable laws, including the FCPA, bearing in mind the nature and scope of their existing business activities.

• The Borrower shall not make any change in accounting treatment and reporting practices or tax reporting treatment except as (a) required by GAAP, consistently applied, or required by Law and, to the extent material, disclosed to the Administrative Agent and (b) agreed to by its independent public accountants (provided that, the Borrower or the Double E Joint Venture may change its fiscal year in accordance with Section 6.16).

• Neither the Borrower nor the Double E Joint Venture has taken any action that is reasonably likely to result in its separate existence being ignored or in its assets and liabilities being substantively consolidated with any other Person in a bankruptcy, reorganization, or other insolvency proceeding.

• Promptly, and in any case no later than ten (10) Business Days after any change in their respective fiscal years, the Borrower or the Double E Joint Venture, as applicable, shall provide written notice to the Administrative Agent or any such change in its fiscal year, in which case, the Borrower and the Administrative Agent will, and are hereby authorized by the Lenders to, make any adjustments to this Agreement that are necessary to reflect such change in fiscal year.

• Neither the Borrower nor the Double E Joint Venture has conducted any business other than the development, construction, ownership, financing, operation and maintenance of the Project and, in each case, activities related and incidental thereto.

• As of the date of each Credit Extension after the Closing Date, the Borrower does not own any Real Property other than Real Property expected to be contributed to the Double E Joint Venture within one hundred and twenty (120) days after the acquisition thereof.

• Maintain proper books of record and account, in which entries are full, true and correct in all material respects and are in conformity with GAAP consistently applied and which reflect all material financial transactions and matters involving the material assets and business of the Borrower and the Double E Joint Venture, as the case may be.

• The Borrower shall not incur any Liens on Equity Interests of the Double E Joint Venture other than those for the benefit of any Secured Parties, the representatives to the First Lien Intercreditor Agreement and the creditors represented by such representatives and as permitted by the penultimate paragraph of Section 7.01.

More Definitions of Double E Joint Venture

Double E Joint Venture. Double E Pipeline, LLC, a Delaware limited liability company. Double E Joint Venture Distribution Amount: for any period, the aggregate amount of dividends or distributions actually received in cash by Borrower or a Restricted Subsidiary from the Double E Joint Venture in respect of such period whether such amount was actually received during such period or thereafter, but only to the extent received prior to the date of calculation in the ordinary course consistent with past practice; provided, that to the extent any such dividends or distributions are included in respect of an applicable period but were received after such period and prior to the date of calculation, such amounts shall be deemed to be in respect of such period for all purposes of this Agreement and not for any other period. Double E LLC Agreement: that certain Amended and Restated Limited Liability Company Agreement of the Double E Joint Venture, dated as of June 26, 2019, as amended, restated, supplemented or otherwise modified, in each case, to the extent not adverse to Agent or the Lenders. Double E Operations and Maintenance Agreement: that certain Operations and Maintenance Agreement, by and between Summit Midstream Permian II, LLC, a Delaware limited liability company, and the Double E Joint Venture, dated as of June 26, 2019, as amended, restated, supplemented or otherwise modified, in each case, to the extent not adverse to Agent or the Lenders.