TLP Management Services definition
Examples of TLP Management Services in a sentence
TLP Management Services may increase the Insurance Reimbursement at any time in accordance with increases in the premiums or fees payable under the applicable insurance policies.
Payments in cash or in the Common Units may be made to TLP Management Services LLC, as the Plan administrator, for the benefit of the plan participants or, alternatively, directly to the plan participants.
TLP Management Services may increase the Administrative Fee each calendar year effective commencing on January 1, 2019 by an amount up to the product of the then-current Administrative Fee multiplied by an amount equal to (x) the percentage increase, if any, from the immediately preceding year in the Consumer Price Index - All Urban Consumers, U.S. City Average, Not Seasonally Adjusted, plus (y) two (2) percent.
During the Applicable Period, the Partnership Group will satisfy all of its needs for such Services through TLP Management Services.
TLP Management Services shall determine the expenses that are allocable to the Partnership Group in any reasonable manner determined by TLP Management Services in its sole discretion.
If the General Partner, on behalf of the Partnership Group and with the concurrence of the Conflicts Committee, agrees to such revised Administrative Fee, then TLP Management Services shall provide Services for the additional assets pursuant to the terms set forth herein.
Notwithstanding the foregoing, the Services shall not include any services that are outsourced by TLP Management Services to third parties.
Pursuant thereto, TLP Management Services shall be directly reimbursed for the associated costs and expenses for the Engineering and the ESOH personnel in accordance with Section 3.1(b) hereof and the Parties hereby agree that the Administrative Fee set forth in Section 2.1(a) above reflects such designation.
Following such election, the personnel performing such Services for the Partnership Group will be deemed for all purposes hereof to be “On-Site Employees” (as defined in Section 2.1(h)(i)) for the remainder of the Applicable Period and TLP Management Services shall be directly reimbursed for the associated costs and expenses for the personnel performing such Services in accordance with Section 3.1(b) hereof and the Administrative Fee will be reduced by an equal amount.
For the avoidance of doubt, during the Applicable Period in which employees of the TLP Management Services are performing Services to or for the benefit of the Partnership Group, the Partnership Group shall be ultimately and fully responsible for the daily work assignments of such employees, including supervision of their day-to-day work activities, training schedules and performance consistent with the purposes stated in Section 2.1(a).