CONTRIBUTION, CONVEYANCE AND ASSUMPTION AGREEMENT BY AND AMONG EL PASO PIPELINE PARTNERS, L.P. EL PASO NORIC INVESTMENTS III, L.L.C. EPPP CIG GP HOLDINGS, L.L.C. EL PASO PIPELINE PARTNERS OPERATING COMPANY, L.L.C. COLORADO INTERSTATE GAS COMPANY AND...
Exhibit 10.1
CONTRIBUTION, CONVEYANCE
AND ASSUMPTION AGREEMENT
BY AND AMONG
EL PASO NORIC INVESTMENTS III, L.L.C.
EPPP CIG GP HOLDINGS, L.L.C.
EL PASO PIPELINE PARTNERS OPERATING COMPANY, L.L.C.
COLORADO INTERSTATE GAS COMPANY
AND
EL PASO CORPORATION
July 24, 2009
DEFINITIONS
CONTRIBUTIONS, ACKNOWLEDGMENTS AND DISTRIBUTIONS
| Section | 2.1 |
Contribution by EP Noric of Subject Interest to the Partnership |
3 |
| Section | 2.2 |
Payment of the Consideration |
3 |
| Section | 2.3 |
Contribution by the Partnership of the Subject Interest to the Operating Company |
3 |
| Section | 2.4 |
Contribution by the Operating Company of the Subject Interest to EPPP CIG |
3 |
FURTHER ASSURANCES
| Section | 3.1 |
Further Assurances |
3 |
| Section | 3.2 | Other Assurances | 4 |
CLOSING TIME
MISCELLANEOUS
| Section | 5.1 |
Order of Completion of Transactions |
4 |
| Section | 5.2 |
Headings; References; Interpretation |
4 |
| Section | 5.3 |
Successors and Assigns |
5 |
| Section | 5.4 | No Third Party Rights | 5 |
| Section | 5.5 |
Counterparts |
5 |
| Section | 5.6 |
Governing Law |
5 |
| Section | 5.7 | Severability |
5 |
| Section | 5.8 |
Amendment or Modification |
5 |
| Section | 5.9 |
Integration |
5 |
| Section | 5.10 | Deed; ▇▇▇▇ of Sale; Assignment | 5 |
CONTRIBUTION, CONVEYANCE
AND ASSUMPTION AGREEMENT
This CONTRIBUTION, CONVEYANCE AND ASSUMPTION AGREEMENT (this “Agreement”), dated as of July 24, 2009, is entered into by and among El Paso Pipeline Partners, L.P., a Delaware limited partnership (the “Partnership”),
El Paso Noric Investments III, L.L.C., a Delaware limited liability company (“EP Noric”), EPPP CIG GP Holdings, L.L.C., a Delaware limited liability company (“EPPP CIG”), El Paso Pipeline Partners Operating Company, L.L.C., a Delaware limited liability
company (the “Operating Company”), Colorado Interstate Gas Company, a Delaware general partnership (“CIG”) and El Paso Corporation, a Delaware corporation (“El
Paso”). The parties to this Agreement are collectively referred to herein as the “Parties.” El Paso and EP Noric, 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 an 18% general partner interest in CIG (the “Subject Interest”) pursuant to the terms of the Contribution Agreement (as defined below) and this
Agreement; and
WHEREAS, EP Noric owns a 60% general partner interest in CIG and EPPP CIG owns a 40% 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), EP Noric and EPPP CIG will own a 42% and 58% general partner interest in CIG, respectively; 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 following actions have been taken prior to the date hereof:
1. The Partnership, EP Noric, EPPP CIG, the Operating Company, CIG and El Paso entered into that certain Contribution Agreement (the “Contribution Agreement”),
dated July 24, 2009 pursuant to which the Partnership agreed to acquire the Subject Interest from the Contributing Parties for aggregate consideration of $214.5 million (as may be adjusted pursuant to the Contribution Agreement), which consideration will be paid in the form specified in the Contribution Agreement.
WHEREAS, concurrently with the consummation of the transactions contemplated hereby (the “Closing”), each of the following shall occur:
1. EP Noric will contribute the Subject Interest to the Partnership in exchange for cash from the Partnership in the amount of $214.5 million (the “Consideration”).
2. The Partnership will contribute the Subject Interest to the Operating Company.
3. The Operating Company will contribute the Subject Interest to EPPP CIG.
4. The partnership agreements, limited partnership agreements and limited liability company agreements of the aforementioned entities 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:
DEFINITIONS
Section 1.1 The following capitalized terms shall have the meanings given below.
(a) “Agreement” has the meaning assigned to such term in the first paragraph of this Agreement.
(b) “Consideration” has the meaning assigned to such term in the recitals.
(c) “CIG” has the meaning assigned to such term in the first paragraph of this Agreement.
(d) “Closing” has the meaning assigned to such term in the recitals.
(e) “Closing Date” has the meaning assigned to such term in the Contribution Agreement.
(f) “Closing Time” shall mean 9:00 a.m. Houston, Texas time on the Closing Date.
(g) “Contributing Parties” has the meaning assigned to such term in the first paragraph of this Agreement.
(h) “Contribution Agreement” has the meaning assigned to such term in the recitals.
(i) “El Paso” has the meaning assigned to such term in the first paragraph of this Agreement.
(j) “EP Noric” has the meaning assigned to such term in the first paragraph of this Agreement.
(k) “EPPP CIG” has the meaning assigned to such term in the first paragraph of this Agreement.
(l) “Operating Company” has the meaning assigned to such term in the first paragraph of this Agreement.
(m) “Parties” has the meaning assigned to such term in the first paragraph of this Agreement.
(n) “Partnership” has the meaning assigned to such term in the first paragraph of this Agreement.
(o) “Partnership Agreement” means the First Amended and Restated Agreement of Limited Partnership of El Paso Pipeline Partners, L.P., dated as of November 21, 2007,
as amended by Amendment No. 1 thereto, dated as of July 28, 2008.
(p) “Subject Interest”
has the meaning assigned to such term in the recitals.
CONTRIBUTIONS, ACKNOWLEDGMENTS AND DISTRIBUTIONS
Section 2.1 Contribution by EP Noric of Subject Interest to the Partnership. EP
Noric hereby grants, contributes, bargains, conveys, assigns, transfers, sets over and delivers to the Partnership, its successors and assigns, for its and their own use forever, all right, title and interest in and to the Subject Interest, and the Partnership hereby accepts the Subject Interest from EP Noric.
Section 2.2 Payment of the Consideration. The
Parties acknowledge that the Partnership has paid the Consideration to EP Noric. EP Noric hereby acknowledges receipt of the Consideration.
Section 2.3 Contribution by the Partnership of the Subject Interest to the Operating Company.
The Partnership hereby grants, contributes, bargains, conveys, assigns, transfers, sets over and delivers to the Operating Company, its successors and assigns, for its and their own use forever, all right, title and interest in and to the Subject Interest, and the Operating Company hereby accepts such contribution from the Partnership.
Section 2.4 Contribution by the Operating Company of the Subject Interest to EPPP CIG. The
Operating Company hereby grants, contributes, bargains, conveys, assigns, transfers, sets over and delivers to EPPP CIG, its successors and assigns, for its and their own use forever, all right, title and interest in and to the Subject Interest, and EPPP CIG hereby accepts such contribution from the Operating Company.
FURTHER ASSURANCES
Section 3.1 Further Assurances. From time to
time after the Closing Time, and without any further consideration, the Parties agree to execute, acknowledge and deliver all such additional deeds, assignments, bills of sale, conveyances, instruments, notices, releases, acquittances and other documents, and will do all such other acts and things, all in accordance with applicable law, as may be necessary or appropriate (a) more fully to assure that the applicable Parties own all of the properties, rights, titles, interests, estates, remedies, powers and
privileges granted by this Agreement, or which are intended to be so granted, or (b) more fully and effectively to vest in the applicable Parties and their respective successors and assigns beneficial and record title to the interests contributed and assigned by this Agreement or intended so to be and to more fully and effectively carry out the purposes and intent of this Agreement.
Section 3.2 Other Assurances. From time to time
after the Closing Time, and without any further consideration, each of the Parties shall execute, acknowledge and deliver all such additional instruments, notices and other documents, and will do all such other acts and things, all in accordance with applicable law, as may be necessary or appropriate to more fully and effectively carry out the purposes and intent of this Agreement. It is the express intent of the Parties that the Partnership or its subsidiaries own the Subject Interests that are identified
in this Agreement and in the Registration Statement.
CLOSING TIME
Notwithstanding anything contained in this Agreement to the contrary, none of the provisions of Article 2 or Article 3 of this Agreement shall be operative or have any effect until the Closing Time, at which time all the provisions of Article 2 and Article 3 of this Agreement shall be effective and operative in accordance with Article 5, without
further action by any Party hereto.
MISCELLANEOUS
Section 5.1 Order of Completion of Transactions. The
transactions provided for in Article 2 and Article 3 of this Agreement shall be completed immediately following the Closing Time in the following order: first, the transactions provided for in Article 2 shall be completed in the order set forth therein; and second, following the completion of the transactions as provided in Article 2, the transactions, if they occur, provided for in Article 3 shall be completed.
Section 5.2 Headings; References; Interpretation. All
Article and Section headings in this Agreement are for convenience only and shall not be deemed to control or affect the meaning or construction of any of the provisions hereof. The words “hereof,” “herein” and “hereunder” and words of similar import, when used in this Agreement, shall refer to this Agreement as a whole and not to any particular provision of this Agreement. All references herein to Articles and Sections shall, unless the context requires
a different construction, be deemed to be references to the Articles and Sections of this Agreement. All personal pronouns used in this Agreement, whether used in the masculine, feminine or neuter gender, shall include all other genders, and the singular shall include the plural and vice versa. The use herein of the word “including” following any general statement, term or matter shall not be construed to limit such statement, term or matter to the specific items or matters set
forth immediately following such word or to similar items or matters, whether or not non-limiting language (such as “without limitation”, “but not limited to”, or words of similar import) is used with reference thereto, but rather shall be deemed to refer to all other items or matters that could reasonably fall within the broadest possible scope of such general statement, term or matter.
Section 5.3 Successors and Assigns. This Agreement
shall be binding upon and inure to the benefit of the Parties and their respective successors and assigns.
Section 5.4 No Third Party Rights. The provisions
of this Agreement are intended to bind the Parties as to each other and are not intended to and do not create rights in any other person or confer upon any other person any benefits, rights or remedies and no person is or is intended to be a third party beneficiary of any of the provisions of this Agreement.
Section 5.5 Counterparts. This Agreement may
be executed in any number of counterparts, all of which together shall constitute one agreement binding on the Parties hereto.
Section 5.6 Governing Law. This Agreement shall
be governed by, and construed in accordance with, the laws of the State of Texas.
Section 5.7 Severability. If any of the provisions
of this Agreement are held by any court of competent jurisdiction to contravene, or to be invalid under, the laws of any political body having jurisdiction over the subject matter hereof, such contravention or invalidity shall not invalidate the entire Agreement. Instead, this Agreement shall be construed as if it did not contain the particular provision or provisions held to be invalid and an equitable adjustment shall be made and necessary provision added so as to give effect to the intention of the Parties
as expressed in this Agreement at the time of execution of this Agreement.
Section 5.8 Amendment or Modification. This Agreement
may be amended or modified from time to time only by the written agreement of all the Parties. Each such instrument shall be reduced to writing and shall be designated on its face as an Amendment to this Agreement.
Section 5.9 Integration. This Agreement and the
instruments referenced herein supersede all previous understandings or agreements among the Parties, whether oral or written, with respect to their subject matter. This document and such instruments contain the entire understanding of the Parties with respect to the subject matter hereof and thereof. No understanding, representation, promise or agreement, whether oral or written, is intended to be or shall be included in or form part of this Agreement unless it is contained in a written amendment hereto executed
by the Parties hereto after the date of this Agreement.
Section 5.10 Deed; ▇▇▇▇ of Sale; Assignment. To the
extent required and permitted by applicable law, this Agreement shall also constitute a “deed,” “▇▇▇▇ of sale” or “assignment” of the assets and interests referenced herein.
[Signature page follows]
IN WITNESS WHEREOF, this Agreement has been duly executed by the Parties hereto as of the date first above written.
| EL PASO PIPELINE PARTNERS, L.P. | ||||
| By: |
EL PASO PIPELINE GP COMPANY, L.L.C.,
its general partner |
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By: |
/s/ ▇▇▇▇ ▇. ▇▇▇▇ | ||
| Name: | ▇▇▇▇ ▇. ▇▇▇▇ | |||
| Title: | Senior Vice President | |||
| EL PASO NORIC INVESTMENTS III, L.L.C. | ||||
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By: |
/s/ ▇▇▇▇ ▇. ▇▇▇▇ | ||
| Name: | ▇▇▇▇ ▇. ▇▇▇▇ | |||
| Title: | Senior Vice President | |||
| EPPP CIG GP HOLDINGS, L.L.C. | ||||
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By: |
/s/ ▇▇▇▇ ▇. ▇▇▇▇ | ||
| Name: | ▇▇▇▇ ▇. ▇▇▇▇ | |||
| Title: | Senior Vice President | |||
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EL PASO PIPELINE PARTNERS OPERATING COMPANY, L.L.C. |
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By: |
/s/ ▇▇▇▇ ▇. ▇▇▇▇ | ||
| Name: | ▇▇▇▇ ▇. ▇▇▇▇ | |||
| Title: | Senior Vice President | |||
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COLORADO INTERSTATE GAS COMPANY |
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By: |
/s/ ▇▇▇▇ ▇. ▇▇▇▇ | ||
| Name: | ▇▇▇▇ ▇. ▇▇▇▇ | |||
| Title: | Senior Vice President | |||
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EL PASO CORPORATION |
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By: |
/s/ D. ▇▇▇▇ ▇▇▇▇▇▇ | ||
| Name: | D. ▇▇▇▇ ▇▇▇▇▇▇ | |||
| Title: | Executive Vice President | |||