DPTSM definition
Examples of DPTSM in a sentence
Subject to section 6(b), the existing contractual indemnification obligations owed by DPTS, DPTSM, and Dakota Plains Marketing to their members and other Affiliates are not released by this Agreement with respect to and to the extent of any recovery from any insurer or third party as a result of a Derailment Claim, but are released in all other respects.
The Parties acknowledge that in PTS’s capacity as trading member of DPTSM, PTS and its Affiliates accrued certain accounts receivable in respect of which DPTSM accrued corresponding receivables from PTS or such Affiliate, which were subsequently funded by PTS or such Affiliate.
For the avoidance of doubt, DPTS, DPTSM or Dakota Plains Marketing are not released or discharged by this section 6(b) to the extent of any recovery referenced in the preceding sentence, but are released and discharged in every other respect.
At the Closing, the Parties shall allocate the Closing Cash Consideration first among DPTS, DPTS Sand and DPTSM, respectively, as entities as set forth on Schedule 2.2(e), and then among 50% of the specific assets and liabilities of each of DPTS, DPTS Sand and DPTSM, respectively, under Section 1060 of the Code and the Treasury Regulations issued thereunder, as also set forth in Schedule 2.2(e).
Furthermore, the rights held by DPTS, DPTSM, and Dakota Plains Marketing under policies of insurance in which they are identified as an insured or otherwise entitled to coverage shall survive this Agreement.
Dakota Plains Marketing desires to acquire all of the membership interests in DPTSM held by PTS, resulting in Dakota Plains Marketing owning 100% of the membership interests in DPTSM.