Definition of Post-Closing Settlement Obligation

  1. Post-Closing Settlement Obligation means an amount equal to the (a) aggregate revenues (including revenues generated from third parties) less (b) general and administrative expenses, operating and maintenance expense, taxes and interest (but excluding any Construction Costs), in each case, of the P66 Parties or their Subsidiaries attributable solely to the Contributed Assets with respect to the period beginning on October 1, 2016 and ending at the Effective Time with all of such revenues and expenses being determined in a manner consistent with the Financial and Operational Information. For purposes of this definition, all revenues attributable to volumes tendered by any P66 Party or any of its Affiliates for transportation on or terminaling at the Contributed Assets during such period shall be calculated based on the applicable tariff or fee included or referenced (as the case may be) in the applicable Commercial Agreement for such Contributed Asset.

Definition of Post-Closing Settlement Obligation in Contribution Conveyance and Assumption Agreement

Post-Closing Settlement Obligation means an amount equal to the (a) aggregate revenues (including revenues generated from third parties) less (b) general and administrative expenses, operating and maintenance expense, taxes and interest (but excluding any Construction Costs), in each case, of the P66 Parties or their Subsidiaries attributable solely to the Contributed Assets with respect to the period beginning on October 1, 2016 and ending at the Effective Time with all of such revenues and expenses being determined in a manner consistent with the Financial and Operational Information. For purposes of this definition, all revenues attributable to volumes tendered by any P66 Party or any of its Affiliates for transportation on or terminaling at the Contributed Assets during such period shall be calculated based on the applicable tariff or fee included or referenced (as the case may be) in the applicable Commercial Agreement for such Contributed Asset.