Back to top

ASSUMPTION AGREEMENT

Assumption Agreement

ASSUMPTION AGREEMENT | Document Parties: EL PASO PIPELINE PARTNERS, L.P. | Colorado Interstate Gas Company | El Paso CNG Company, LLC | El Paso Corporation | EL PASO NORIC INVESTMENTS III, LLC | EL PASO PIPELINE GP COMPANY, LLC | El Paso Pipeline Partners Operating Company, LLC | EL PASO PIPELINE PARTNERS, LP | El Paso SNG Holding Company, LLC | EPPP CIG GP Holdings, LLC | EPPP SNG GP Holdings, LLC | Southern Natural Gas Company You are currently viewing:
This Assumption Agreement involves

EL PASO PIPELINE PARTNERS, L.P. | Colorado Interstate Gas Company | El Paso CNG Company, LLC | El Paso Corporation | EL PASO NORIC INVESTMENTS III, LLC | EL PASO PIPELINE GP COMPANY, LLC | El Paso Pipeline Partners Operating Company, LLC | EL PASO PIPELINE PARTNERS, LP | El Paso SNG Holding Company, LLC | EPPP CIG GP Holdings, LLC | EPPP SNG GP Holdings, LLC | Southern Natural Gas Company

. RealDealDocs™ contains millions of easily searchable legal documents and clauses from top law firms. Search for free - click here.
Title: ASSUMPTION AGREEMENT
Governing Law: Texas     Date: 7/6/2011
Industry: Natural Gas Utilities     Sector: Utilities

50 of the Top 250 law firms use our Products every day

 


EXHIBIT 10.2 

 

 

 

 

CONTRIBUTION, CONVEYANCE

 

AND ASSUMPTION AGREEMENT

 

BY AND AMONG

 

 

EL PASO PIPELINE PARTNERS, L.P.

 

EL PASO PIPELINE PARTNERS OPERATING COMPANY, L.L.C.

 

EL PASO SNG HOLDING COMPANY, L.L.C.

 

EPPP SNG GP HOLDINGS, L.L.C.

 

SOUTHERN NATURAL GAS COMPANY

 

EL PASO NORIC INVESTMENTS III, L.L.C.

 

COLORADO INTERSTATE GAS COMPANY

 

EPPP CIG GP HOLDINGS, L.L.C.

 

EL PASO CNG COMPANY, L.L.C.

 

AND

 

EL PASO CORPORATION

 

 

 

June 29, 2011

 

 

 

 


 

 

 

 

TABLE OF CONTENTS

 

  RECITALS

 

 

 

 

 

 

 

 

ARTICLE 2

TRANSFER, CONTRIBUTIONS AND ACKNOWLEDGMENTS

 

 

 

 

Section

 2.1

Transfer by EP SNG of the SNG Subject Interest to El Paso

3

Section 

 2.2

Transfer by EP Noric of the CIG Subject Interest to EP CNG

4

Section  

 2.3

Transfer by EP CNG of the CIG Subject Interest to El Paso

 4

Section

 2.4

 

 

Section

 2.5

Contribution by the Operating Company of the Subject Interest to EPPP CIG

4

Section

 2.6

Payment of the Consideration

4

 

 

 

 

ARTICLE 3

FURTHER ASSURANCES

 

 

 

 

Section 

 3.1

Further Assurances 

4

Section 

 3.2

Other Assurances  

4

 

 

 

 

ARTICLE 4

CLOSING TIME

 

 

 

 

ARTICLE 5

MISCELLANEOUS

 

 

 

 

Section 

 5.1

Order of Completion of Transactions

5

Section 

 5.2

Headings; References; Interpretation

5

Section 

 5.3

Successors and Assigns

5

Section 

 5.4

No Third Party Rights

5

Section 

 5.5

Counterparts

6

Section 

 5.6

Governing Law

6

Section 

 5.7

Severability 

6

Section 

 5.8

Amendment or Modification

6

Section 

 5.9

Integration

6

Section 

 5.10

Deed; Bill of Sale; Assignment

6

 

 

 

 

 

CONTRIBUTION, CONVEYANCE

 

AND ASSUMPTION AGREEMENT

 

     This CONTRIBUTION, CONVEYANCE AND ASSUMPTION AGREEMENT (this “ Agreement ”), dated as of June 29, 2011, is entered into by and among El Paso Pipeline Partners, L.P., a Delaware limited partnership (the “ Partnership ”), El Paso Pipeline Partners Operating Company, L.L.C., a Delaware limited liability company and direct wholly-owned subsidiary of the Partnership (the “ Operating Company ”),  El Paso SNG Holding Company, L.L.C., a Delaware limited liability company and direct wholly-owned subsidiary of El Paso Corporation (“ EP SNG ”), EPPP SNG GP Holdings, L.L.C., a Delaware limited liability company and an indirect wholly-owned subsidiary of the Partnership (“ EPPP SNG ”), Southern Natural Gas Company, a Delaware general partnership (“ SNG ”), El Paso Noric Investments III, L.L.C., a Delaware limited liability company and indirect wholly-owned subsidiary of El Paso Corporation (“ EP Noric ”), Colorado Interstate Gas Company, a Delaware general partnership, (“ CIG” ), EPPP CIG GP Holdings, L.L.C., a Delaware limited liability company and an indirect wholly-owned subsidiary of the Partnership (“ EPPP CIG ”), El Paso CNG Company, L.L.C., a Delaware limited liability company and direct wholly-owned subsidiary of El Paso Corporation (“ EP CNG”) and El Paso Corporation, a Delaware corporation (“ El Paso ”).  The parties to this Agreement are collectively referred to herein as the “ Parties .”  El Paso, EP Noric, EP CNG and EP SNG are referred to herein collectively as the “ Contributing Parties .” Capitalized terms used herein shall have the meanings assigned to such terms in Section 1.1.

 

 

RECITALS

 

     WHEREAS, the Contributing Parties desire to transfer to the Partnership a 15% general partner interest in SNG (the “ SNG Subject Interest ”) and a 28% general partner interest in CIG (the “ CIG Subject Interest” and, together with the SNG Subject Interest, the “ Subject Interest ”)   pursuant to the terms of the Contribution Agreement (as defined below) and this Agreement; and

 

     WHEREAS, EP SNG owns a 15% general partner interest in SNG and EPPP SNG owns an 85% general partner interest in SNG; and

 

     WHEREAS,  EP Noric owns a 42% general partner interest in CIG and EPPP CIG owns a 58% general partner interest in CIG; and

 

     WHEREAS, after giving effect to the completion of the contribution of the Subject Interest referred to above pursuant to the terms of this Agreement and the Contribution Agreement (as defined below), EPPP SNG will own an 85% general partner interest in SNG, EP Noric will own a 14% general partner interest in CIG and EPPP CIG will own a 15% general partner interest in SNG and an 86% general partner interest in CIG; and

 

     WHEREAS, in order to accomplish the objectives and purposes in the preceding recitals, and to effect the intent of the Parties in connection with the consummation of the transactions contemplated hereby, the Partnership, the Operating Company, EP SNG, EPPP SNG, SNG, EP Noric, EPPP CIG, CIG and El Paso entered into that certain Contribution Agreement (the “ Contribution Agreement ”), dated June 29, 2011, pursuant to which the Partnership agreed to acquire the Subject Interest from the Contributing Parties for aggregate consideration of $745 million (as may be adjusted pursuant to the Contribution Agreement) (the “ Consideration ”).

 

 

 

     WHEREAS, concurrently with the consummation of the transactions contemplated hereby (the “ Closing ”), each of the following shall occur:

 

1.   EP SNG will transfer the SNG Subject Interest to El Paso.

 

2.   EP Noric will transfer the CIG Subject Interest to EP CNG.

 

3.   EP CNG will transfer the CIG Subject Interest to El Paso.

 

4.   El Paso will transfer the Subject Interest to the Operating Company.

 

5.   The Operating Company will contribute the Subject Interest to EPPP CIG.

 

6.   The general partnership agreements of CIG and SNG will be amended to the extent necessary to reflect the matters and transactions mentioned in this Agreement.

 

     NOW, THEREFORE, in consideration of their mutual undertakings and agreements hereunder, the Parties undertake and agree as follows:

 

ARTICLE 1

DEFINITIONS

 

     Section 1.1  The following capitalized terms shall have the mean i ngs given below.

 

(a)  Agreement ” has the meaning assigned to such term in the first paragraph of this Agreement.

 

(b)   “CIG” has the meaning assigned to such term in the first paragraph of this Agreement.

 

(c)  CIG Subject Interest ” has the meaning assigned to such term in the recitals.

 

(d)  Consideration ” has the meaning assigned to such term in the recitals.

 

(e)  Closing ” has the meaning assigned to such term in the recitals.

 

(f)  Closing Date ” has the meaning assigned to such term in the Contribution Agreement.

 

(g)  Closing Time ” shall mean 9:00 a.m. Houston, Texas time on the Closing Date.

 

(h)    “ Contributing Parties ” has the meaning assigned to such term in the first paragraph of this Agreement.

 

 

 

(i)  Contribution Agreement ” has the meaning assigned to such term in the recitals.

 

(j)    “ El Paso ” has the meaning assigned to such term in the first paragraph of this Agreement.

 

(k)    “ EP CNG ” has the meaning assigned to such term in the first paragraph of this Agreement.

 

(l)  EP Noric ” has the meaning assigned to such term in the first paragraph of this Agreement.

 

(m)  EP SNG ” has the meaning assigned to such term in the first paragraph of this Agreement.

 

(n)   “EPPP CIG ” has the meaning assigned to such term in the first paragraph of this Agreement.

 

(o)    “ EPPP SNG


 
SITE SEARCH

AGREEMENTS / CONTRACTS

Document Title:

Entire Document: (optional)

Governing Law:(optional)


Try our advanced search >>
 

CLAUSES

Search Contract Clauses >>

Browse Contract Clause Library>>