THE PARTNERSHIP THAT REGISTRATION IS NOT REQUIRED FOR SUCH TRANSFER
OR THE SUBMISSION TO THE GENERAL PARTNER OF THE PARTNERSHIP OF SUCH OTHER
EVIDENCE AS MAY BE SATISFACTORY TO THE GENERAL PARTNER TO THE EFFECT THAT ANY
SUCH TRANSFER OR SALE WILL NOT BE IN VIOLATION OF THE SECURITIES ACT OF 1933, AS
AMENDED, OR APPLICABLE STATE SECURITIES LAWS OR ANY RULE OR REGULATION
PROMULGATED THEREUNDER.
TABLE OF CONTENTS
ARTICLE I DEFINITIONS
1.1
"ACT"
1.2
"ADDITIONAL CONTRIBUTED EQUITY"
1.3
"ADJUSTED CAPITAL ACCOUNT BALANCE"
1.4
"ADVISORY COMMITTEE"
1.5
"AFFILIATE"
1.6
"AFFILIATE PAYMENT"
1.7
"AFFILIATE TRANSACTION"
1.8
"AGREEMENT"
1.9
"ASSET VALUE"
1.10
"BALANCE SHEET" HAS THE MEANING SET FORTH IN SECTION 6.3(B).
1.11
"BANKRUPTCY"
1.12
"BANKRUPTCY ACTION"
1.13
"BANKRUPTCY LAW"
1.14
"BASIS"
1.15
"BUDGET"
1.16
"BUSINESS"
1.17
"CAPACITY RESERVATION"
1.18
"CAPITAL ACCOUNT"
1.19
"CERTIFICATE OF LIMITED PARTNERSHIP"
1.20
"CHENIERE CLOSING DATE CONTRIBUTION"
1.21
"CHENIERE CLOSING DATE DISTRIBUTION"
1.22
"CHENIERE INITIAL EQUITY AMOUNT"
1.23
"CLOSING DATE"
1.24
"CONSTRUCTION
FINANCING"
1.25
"CONTRIBUTED EQUITY"
1.26
"CONTRIBUTING PARTNER"
1.27
"CONTRIBUTION AGREEMENT"
1.28
"CONTRIBUTION DATE"
1.29
"DELINQUENT CONTRIBUTION"
1.30
"DELINQUENT PARTNER"
1.31
"DEPRECIATION"
1.32
"EARLY CONTRIBUTION DATE"
1.33
"ENTITY"
1.34
"ENVIRONMENTAL LAWS"
1.35
"EXPENSES"
1.36
"FERC"
1.37
"FINANCIAL STATEMENTS" HAS THE MEANING SET FORTH IN SECTION 14.2.
1.39
"FISCAL YEAR"
1.40
"FREEPORT LNG FACILITY"
1.41
"FREEPORT GP INITIAL EQUITY AMOUNT"
1.42
"GAAP"
1.43
"GENERAL PARTNER"
1.44
"GOVERNMENTAL ENTITY"
1.45
"GOVERNMENTAL PERMITS"
1.46
"GRYPHON STOCK"
1.47
"INDEMNITEE"
1.48
"INITIAL EQUITY AMOUNTS"
1.49
"INTEREST"
1.50
"I.R.C."
1.51
"LEASE AGREEMENT"
1.52
"LIMITED PARTNERS"
1.53
"LIQUIDATOR"
1.54
"LNG INVESTMENTS CLOSING DATE CONTRIBUTION"
1.55
"LNG INVESTMENTS EXPENSES"
1.56
"LNG INVESTMENTS INITIAL EQUITY AMOUNT"
1.57
"MAJOR DECISION"
1.58
"MAJORITY"
1.59
"MAJORITY IN INTEREST"
1.60
"MATERIAL ADVERSE EFFECT"
1.61
"MINIMUM GAIN"
1.62
"MS ENTITIES"
1.63
"NET CASH FLOW"
1.64
"NONRECOURSE DEDUCTIONS"
1.65
"OTHER PARTNERS"
1.66
"PARTNER"
1.67
"PARTNER NONRECOURSE DEBT"
1.68
"PARTNER NONRECOURSE DEBT MINIMUM GAIN"
1.69
"PARTNER NONRECOURSE DEDUCTIONS"
1.70
"PARTNERSHIP"
1.71
"PARTNERSHIP ACCOUNTANT"
1.72
"PARTNERSHIP ASSETS"
1.73
"PARTNERSHIP MINIMUM GAIN"
1.74
"PERCENTAGE INTEREST"
1.75
"PERSON"
1.76
"PRE-CLOSING PROJECT EXPENSES"
1.77
"PROFIT" AND "LOSS"
1.78
"PROFIT" OR "LOSS"
1.79
"PROJECT"
1.80
"PROJECT APPROVAL"
1.81
"REIMBURSEMENT AMOUNT"
1.82
"REGULATIONS"
1.83
"REMOVAL EVENT"
1.84
"REMOVAL NOTICE"
1.85
"REQUIREMENTS OF LAW"
1.86
"RETURNED AMOUNT"
1.87
"REVENUES"
1.88
"RULES"
1.89
"WITHDRAWAL PAYMENT"
ARTICLE II FORMATION OF THE PARTNERSHIP
2.1
FORMATION OF LIMITED PARTNERSHIP.
2.2
NAME.
2.3
CHARACTER OF BUSINESS.
2.4
REGISTERED OFFICE AND AGENT.
2.5
OTHER FILING.
2.6
TERM AND FISCAL YEAR.
ARTICLE III CAPITAL/PERCENTAGE INTERESTS/FUTURE FINANCING
3.1
CAPITAL CONTRIBUTIONS; USE OF FUNDS.
3.2
PERCENTAGE INTERESTS.
3.3
FUTURE FINANCING.
3.4
ADDITIONAL CONTRIBUTED EQUITY.
3.5
DELINQUENT CONTRIBUTIONS.
3.6
POST-PROJECT APPROVAL EQUITY.
3.7
NO FURTHER CONTRIBUTED EQUITY.
3.8
RETURN OF CAPITAL.
3.9
BENEFIT OF OBLIGATIONS.
ARTICLE IV CAPITAL ACCOUNTS, ALLOCATIONS, AND TAX MATTERS
4.1
CAPITAL ACCOUNTS.
4.2
ALLOCATION OF PROFIT AND LOSS.
4.3
SPECIAL ALLOCATIONS.
4.4
I.R.C. SECTION 704(C) TAX ALLOCATION.
4.5
SPECIAL ALLOCATIONS REGARDING PAYMENTS TO AFFILIATES.
4.6
ALLOCATION OF GAINS AND LOSSES UPON LIQUIDATION.
4.7
DEEMED SALE.
4.8
ALLOCATION FOR GAAP AND FINANCIAL REPORTING.
ARTICLE V DISTRIBUTIONS
5.1
SPECIAL DISTRIBUTIONS OF CAPACITY RESERVATION FUNDS.