Western Gulf definition

Western Gulf means Western Gulf Holdings, L.L.C., a Delaware limited liability company.
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Western Gulf or "the Company"), a Delaware Limited Liability Company organized December 11, 1998, was formed to own and operate High Island Offshore System, L.L.C. ("HIOS") and East Breaks Gathering Company, L.L.C. ("East Breaks"). East Breaks was also organized as a Delaware Limited Liability Company on December 11, 1998. Effective January 1, 1999, the members of the Company, each of which then held a 20% interest in the Company, contributed their capital accounts in HIOS to the Company in the amount of $14,972,141 in exchange for equivalent ownership interests in the Company. As a result, the Company now owns a 100% interest in HIOS. Effective September 30, 1999, the members of the Company contributed their capital accounts in the Company to Deepwater Holdings, L.L.C. ("Deepwater"). As a result, Deepwater owns 100% of the Company. Deepwater is equally owned by affiliates of ANR Pipeline Company ("ANR"), an indirect subsidiary of The Coastal Corporation ("Coastal") and El Paso Energy Partners Deepwater, L.L.C., an affiliate of El Paso Energy Corporation ("El Paso"). On January 18, 2000 Coastal and El Paso entered into a merger agreement under which, if the merger is completed, Coastal would be merged into El Paso. HIOS owns a 203.4 mile undersea gas transmission system in the Gulf of Mexico which provides transportation services as authorized by the Federal Energy Regulatory Commission ("FERC"). HIOS' major transportation customers include natural gas marketers and producers, and interstate natural gas pipeline companies. The Company extends credit for transportation services provided to these customers. The concentrations of customers, described above, may affect the Company's overall credit risk in that the customers may be similarly affected by changes in economic, regulatory and other factors. East Breaks is a "development stage company" which is building an 85 mile pipeline and related facilities extending from HIOS connecting the deep water Xxxxx/Xxxxxx prospects developed by Exxon Company USA ("Exxon") and BP Amoco Plc ("BP Amoco") in Alaminos Canyon Block 25 in the Gulf of Mexico. The new line is scheduled to be in service in July 2000 and is projected to cost approximately $90 million. East Breaks entered into long-term agreements with Exxon and BP Amoco involving gathering of production from the Xxxxx/Xxxxxx prospects. The Company is managed by a committee consisting of representatives from El Paso and ANR. The Company has no employees. ANR is currently the ...
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Western Gulf. Western Gulf Holdings, L.L.C., a Delaware limited liability company, which owns all of High Island Offshore System, L.L.C. and East Breaks Gathering Company, L.L.C. on the Closing Date.
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Examples of Western Gulf in a sentence

  • The Western Gulf Credit Facility has no scheduled amortization prior to its maturity in February 2004.

  • Western Gulf, which owns all of HIOS and East Breaks, entered into a revolving credit facility (the "Western Gulf Credit Facility") with a syndicate of commercial banks in February 1999 to provide up to $100 million for the construction of the East Breaks system and for other working capital needs of Western Gulf, East Breaks and HIOS.

  • Substantially all of the construction costs of the East Breaks system will be funded by the Western Gulf Credit Facility.

  • In addition, Western Gulf would be required to prepay a portion of the balance outstanding under this credit facility to the extent such financial targets are not achieved and maintained.

  • Xxxxx Title: Vice President and Trust Officer NEW GUARANTORS: EL PASO ENERGY PARTNERS DEEPWATER, L.L.C. (formerly, Western Gulf Holdings, L.L.C.) EAST BREAKS GATHERING COMPANY, L.L.C. HIGH ISLAND OFFSHORE SYSTEM, L.L.C. THE CHACO LIQUIDS PLANT TRUST (by EL PASO ENERGY PARTNERS OPERATING COMPANY, L.L.C., solely in its capacity as trustee of the Chaco Liquids Plant Trust) By: /s/ D.

  • Therefore, as an aid in mapping the New Hampshire continental shelf geology and potential marine mineral resources (sand and gravel), all available high‐resolution multibeam echosounder (MBES) bathymetry for the Western Gulf of Maine (WGOM) was synthesized and presented as a composite in a GIS environment.

  • In connection with its formation, Deepwater Holdings established a $175 million credit facility to: - retire existing debt of Stingray and Western Gulf, the parent company of East Breaks and HIOS; - fund a one-time distribution of $20 million to each of the equity partners; - provide funds for the remaining construction costs of the East Breaks system and any future system expansions; and - provide for other working capital needs of Deepwater Holdings.

  • In connection with its formation, Deepwater Holdings assumed Western Gulf Holdings' obligations under its $100 million revolving credit facility entered into in February 1999, and amended and restated that facility to, among other things, increase the commitment amount to $175 million.

  • The Western Gulf Credit Facility is collateralized by substantially all of the material contracts and agreements of East Breaks and Western Gulf, including Western Gulf's ownership in HIOS and East Breaks, and supported by a guarantee of East Breaks.

  • As of May 10, 1999 Western Gulf had $47.1 million outstanding and approximately $52.9 million of funds available under this facility.


More Definitions of Western Gulf

Western Gulf has requested that the Company waive compliance with the Section 5.10 of the Purchase Agreement.
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Western Gulf has advised the Company that Western Gulf plans to distribute and assign (the "Assignment") the Warrants represented by Warrant Certificates 1 and 1A (an aggregate of 916,667 Warrants) pursuant to, and in compliance with, Section 5.5(a)(iii) of the Purchase Agreement to the partners of Western Gulf identified on Schedule I hereto (each a "Partner" and collectively, the "Partners") on a pro rata basis. Western Gulf has requested the Company to acknowledge (i) the anticipated Assignment of Warrants by Western Gulf and (ii) that upon the Assignment of the Warrants to the partners of Western Gulf the Partners will succeed to the rights and obligations of Western Gulf under the Purchase Agreement, including, but not limited to, the rights of Investors pursuant to Section 5.12 of the Purchase Agreement. Concurrently herewith the Company and Western Gulf are entering into the Note Modification Agreement (as defined below).
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Western Gulf has the meaning given that term in the preamble.
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Western Gulf has the meaning set forth in the Recitals.
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Western Gulf means Western Gulf Holdings, L.L.C., a Delaware limited liability company. "Withdrawal Opinion of Counsel" has the meaning assigned to such term in Section 13.1(b).
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Western Gulf. Western Gulf Holdings, L.L.C., a Delaware limited liability company.
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Related to Western Gulf

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