El Paso Entity definition
Examples of El Paso Entity in a sentence
Therefore, from and after the date of execution and delivery of this Agreement, Seller shall take all reasonable steps, including all steps that the Program Agent, any Managing Agent or any Investor may from time to time reasonably request, to maintain Seller’s identity as a separate legal entity and to make it manifest to third parties that Seller is an entity with assets and liabilities distinct from those of any El Paso Entity thereof and not just a division of a El Paso Entity.
Therefore, from and after the date of execution and delivery of this Agreement, Finance LLC shall take all reasonable steps, including all steps that Buyer (or its assigns) may from time to time reasonably request, to maintain Finance LLC’s identity as a separate legal entity and to make it manifest to third parties that Finance LLC is an entity with assets and liabilities distinct from those of any El Paso Entity thereof and not just a division of a El Paso Entity.
For the avoidance of doubt, the provisions of this Agreement shall not give rise to any right of recourse against any officer or director of any El Paso Entity or any Partnership Entity.
Neither the Borrower, any El Paso Entity nor, to the Borrower's knowledge, any other Transaction Party is in default under any executed Transaction Document.
Each El Paso Entity is an entity duly organized, validly existing and in good standing under the laws of the State of Delaware and has all requisite entity power and authority to consummate the transactions and perform each of its obligations contemplated hereby, as applicable.
All records and data in any form relating to EP Energy Group Employees shall be the property of the EP Energy Group, except that records and data pertaining to such an Employee and relating to any period that such Employee was (i) employed by any El Paso Entity or (ii) covered under any Benefit Plan sponsored by any El Paso Entity (to the extent that such records or data relate to such coverage) shall be jointly owned by the EP Energy Group and those El Paso Group Entities.
EP Energy will transfer and assign (or cause another EP Energy Entity to transfer and assign) to an El Paso Entity all rights to seek contribution or damages from any applicable third party (such as a third party who aggravates an injury to a worker who makes a workers’ compensation claim) with respect to any workers’ compensation claim for which El Paso is responsible for pursuant to this Article VIII.
Except as otherwise set forth in this Agreement, effective not later than immediately following the Effective Time, the employment of each individual whose employment duties are to be primarily related to the business activities of the El Paso Group immediately after the Distribution (collectively, the “El Paso Group Employees”) shall be continued by an El Paso Entity or shall be assigned and transferred to an El Paso Entity (in each case as determined by El Paso).
Each of El Paso and EP Energy shall cause to be performed, and hereby guarantees the performance of, all actions, agreements and obligations set forth herein to be performed by any El Paso Entity and any EP Energy Entity, respectively.
Except as expressly provided otherwise in this Agreement or in any Transaction Document, the rights of each El Paso Entity and each EP Energy Entity to amend, waive, or terminate any plan, arrangement, agreement, program, or policy referred to herein shall not be limited in any way by this Agreement.