TGPL definition
Examples of TGPL in a sentence
When NWP or TGPL ceases to be a Borrower, the Borrower Sublimit applicable to such Borrower shall be terminated, such Borrower shall repay all obligations under the Loan Documents owing by it and all Letters of Credit issued at the request of such Borrower shall be terminated or such Borrower shall provide cash collateral to the Agent in an amount equal to the undrawn face amount of such Letters of Credit.
Each Borrower hereby acknowledges that the issuance of Letters of Credit for the account of its Subsidiaries (other than, in the case of WPZ, the issuance of Letters of Credit at the request of NWP or TGPL for the account of NWP, TGPL or any Subsidiary of NWP or TGPL) inures to the benefit of such Borrower, and that such Borrower’s business derives substantial benefits from the businesses of its Subsidiaries.
At the time that each ABR Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less than $5,000,000; provided that an ABR Borrowing may be in an aggregate amount that is equal to the entire unused balance of the Aggregate Commitments or, in the case of NWP or TGPL, the entire unused balance of the Borrower Sublimit applicable to it, or that is required to finance the reimbursement of an LC Disbursement as contemplated by Section 2.06(e).
At all times, WPZ will (a) Control NWP and TGPL and (b) maintain NWP and TGPL as Subsidiaries of WPZ, except that WPZ may cease to have Control over, and/or cease to maintain NWP and TGPL as its Subsidiaries, if after giving effect to either NWP or TGPL not being Subsidiaries of WPZ or WPZ ceasing to have Control over either NWP or TGPL, as applicable, the senior unsecured debt securities of WPZ shall have an Investment Grade Rating from each of ▇▇▇▇▇’▇ and S&P.
A Letter of Credit will be deemed to be issued at the request of (i) NWP, if NWP gives the Notice of Letter of Credit in respect of such Letter of Credit; (ii) TGPL, if TGPL gives the Notice of Letter of Credit in respect of such Letter of Credit, (iii) MLP, if MLP gives the Notice of Letter of Credit in respect of such Letter of Credit and (iv) TWC, if neither NWP nor TGPL nor MLP gives the Notice of Letter of Credit in respect of such Letter of Credit.