Document:

Striker Energy Corp.: Exhibit 10.7 - Filed by newsfilecorp.com

June 11, 2010

CONFIDENTIAL: Letter Of Intent 

Max Draughn
Chief Executive Officer 
Cypress
Pharmaceutical Inc. 
135 Industrial Boulevard 
Madison 
Mississippi
39110

Dear Mr. Draughn:

     Striker (“THE
COMPANY”) is pleased to submit the following non-binding letter of
intent to Cypress Pharmaceutical, Inc. (“Cypress”). THE COMPANY
will endeavor to sign final agreements within thirty (30) days following the
closing of definitive due diligence (the “Closing Date”). A
separate addendum listing initial due diligence items, Appendix 1, has been sent
concurrently and separately to this letter of intent. This is not an exhaustive
list of due diligence and further items may be considered and added at the sole
discretion of THE COMPANY. This Letter Of Intent will be superceded by the terms
and conditions contained in the Definitive Agreement or Asset Purchase
Agreement. Striker proposes to acquire GRANISOL Oral Solution
(“GRANISOL”) in accordance with the following terms and provisions:

1. Assets. In a transaction hereinafter defined as the
“Proposed Transaction”, THE COMPANY anticipates acquiring from
CYPRESS and its affiliates the assets related to GRANISOL, including all right,
title and interest held by CYPRESS and its affiliates in each of the following
assets related to GRANISOL: (a) all registered and unregistered U.S. trademarks
and service marks (including any applications thereof), trade names, domain
names and designs; (b) ANDA formulas, processes and methods related to the
manufacturing process, including related trade secrets; (c) stability and
clinical trials data, regulatory filings and correspondence and any other
records; (d) packaging materials; (e) sales and marketing materials; (f) the
finished product inventory with no less than eighteen (18) months dating,
including only those lots where no shipments have yet occurred to any customers
(the “Inventory”); (g) all supplier, distributor and wholesaler
agreements (the “Contracts”); and (h) any other assets used in
connection with the manufacture, production, packaging, distribution (excluding
physical plant and equipment used in the manufacture and distribution of the
product), marketing or sale of GRANISOL (collectively, the
“Assets”). 

1

     2. Liabilities. THE
COMPANY anticipates assuming CYPRESS’s obligations to perform under the
Contracts (the “Assumed Liabilities”). THE COMPANY and CYPRESS
would agree that THE COMPANY would not assume any of CYPRESS’s other
liabilities, including but not limited to, any liabilities for returns,
chargebacks, or other discounts of any nature related to invoices containing
lots shipped prior to the Closing Date and any adverse events, product reporting
or other product related liabilities for such product shipped prior to the
Closing Date.

     3. Purchase Price. At the
closing, THE COMPANY expects to pay to CYPRESS an amount of $1,000,000 (one
million US dollars). This will be determined utilizing further data which has
been requested from CYPRESS as well as actual demand for GRANISOL, channel
inventory, shelf life, product potential (including potential pricing,
contracting and competitive dynamics) and efforts made by CYPRESS to secure
their ANDA for GRANISOL, as well as complete and final diligence. The PURCHASE
PRICE is expressly for the Assets (including any saleable Inventory) and for the
Assumed Liabilities at the Closing Date. . This purchase price is also based
solely on information provided in the CIM and would be subject to cancellation
upon further due diligence performed by THE COMPANY at its sole
discretion. 
        The purchase
will be contingent upon THE COMPANY being able to secure appropriate financing
to both acquire GRANISOL and to market it. THE COMPANY has regularly and
diligently informed JKF Advisors, both directly and through the COMPANY’s
bankers, of its’ financing strategy.

     4. Manufacturing and Supply
Agreement. THE COMPANY and CYPRESS will cooperate with each other in good
faith in the negotiation and preparation of a manufacturing and supply agreement
for the active pharmaceutical ingredient (the “API”) with Hubei Haosun
Pharmaceutical Co. Ltd. and for the finished product manufacturing with
Therapex®, a division of Bracco S.p.A. (“Bracco”), (collectively, the
“Manufacturers”). Such manufacturing and supply agreements to be completed in
conjunction with the Closing. Pursuant to this manufacturing and supply
agreement, the Manufacturers would agree to manufacture GRANISOL for THE COMPANY
for an initial term of five years (the “Initial Term”) and to work with THE
COMPANY to make sample product available in a presentation to be determined,
including the performance of stability studies, if required. THE COMPANY would
agree to purchase at least minimum quantities to be determined by THE COMPANY
and the Manufacturers. The Manufacturers would agree to provide the output from
their manufacturing facilities related to GRANISOL exclusively to THE COMPANY.
THE COMPANY and the Manufacturers will attempt to negotiate provisions regarding
the Manufacturers manufacture and production of product line extensions for THE
COMPANY and an extension of the term of this manufacturing and supply agreement
for an additional five years. In the event THE COMPANY and the Manufacturers are
unable to reach agreement on such agreement extension beyond the initial five
year period, the Manufacturers will so inform THE COMPANY within twelve (12)
months prior to the expiration of the Initial Term and will agree to make the
required technological transfers to THE COMPANY to enable THE COMPANY or its
agent to manufacture, produce and package GRANISOL, such transfer to be complete
no less than ninety (90) days in advance of the termination of this
manufacturing and supply agreement.

2

Additionally, THE COMPANY would be free to approach other
manufacturers of the active pharmaceutical ingredient for GRANISOL (“API”) with
the intent of obtaining an exclusive manufacturing relationship with such other
manufacturers to run concurrent with the exclusive relationship with Hubei
Haosun. To the extent THE COMPANY is successful in reaching agreement with
another API manufacturer, its requirements from Hubei Haosun may be reduced. THE
COMPANY would be free to approach other manufacturers of the finished product
for Granisol with the intent of obtaining an exclusive manufacturing
relationship with such other manufacturers to run concurrent with the exclusive
relationship with Therapex, a Division of Bracco S.p.A. To the extent THE
COMPANY is successful in reaching agreement with another finished product
manufacturer, its requirements from Therapex may be reduced. 

     5. Contingencies. The
Proposed Transaction is contingent upon, among other things, (a) THE COMPANY’s
satisfaction with its due diligence examination of the Assets, (b) the approval
of the THE COMPANY’s board of directors, (c) the negotiation and execution of a
mutually acceptable definitive purchase agreement and a mutually acceptable
definitive supply agreement and other related documents and (d) the completion
of an appropriate financing to both acquire GRANISOL and to market it. 

     6. Access. To facilitate
THE COMPANY’s due diligence, CYPRESS shall provide THE COMPANY and its
representatives, access to all of CYPRESS’s facilities and documents related to
the Assets and to all of its key management and other personnel involved in the
business related to the Assets. This will include full access to the
Manufacturers production facility and full disclosure of the production process,
product costing currently in effect and any other information relevant to the
manufacturing of the product.

     7. Maintenance of Assets.
Pending execution of the definitive purchase agreement and until closing,
CYPRESS shall (a) continue to operate its business related to the Assets in the
ordinary course and consistent with past practice, and (b) take such steps as
are necessary and appropriate to preserve the Assets and the business related to
the Assets, including, without limitation, retaining relationships with
suppliers, distributors, wholesalers and customers. CYPRESS shall ensure that
shipments into the distribution channels are made so as to maintain normal
inventory levels not to exceed one month’s demand to minimize any adverse effect
on future sales of GRANISOL subsequent to the Closing Date.

     8. Purchase Agreement. THE
COMPANY and CYPRESS will cooperate with each other in good faith in the
negotiation and preparation of the definitive purchase agreement, the definitive
supply agreement and related documents, the making of any required governmental
filings and obtaining all necessary approvals and consents from third parties.
The definitive purchase agreement will contain customary representations and
warranties, covenants and indemnities. CYPRESS and the Manufacturers would also
agree to train a designated number of THE COMPANY personnel on the manufacture,
production and packaging of GRANISOL. 

3

     9. Exclusivity. Commencing
on the date hereof and continuing through 90 days after the execution and
delivery of this letter of intent, CYPRESS and its affiliates, representatives
and advisors shall immediately discontinue and shall not institute, pursue or
enter into any discussions, negotiations or agreements (whether preliminary or
definitive) with any person or entity concerning any licensing, acquisition,
purchase, sale or disposition of any of the Assets. CYPRESS acknowledges and
agrees that THE COMPANY is relying on CYPRESS’s covenants in this paragraph and,
as a result of such reliance, will be incurring considerable expense (including
devoting significant management time and, as a result thereof, foregoing other
opportunities) in connection with completion of THE COMPANY’s due diligence
review of the Assets which may extend beyond a ‘physical’ due diligence at the
CYPRESS facility. Accordingly, CYPRESS agrees that in the event of any breach of
this paragraph, THE COMPANY shall be entitled to equitable relief, including an
injunction and specific performance, together with reimbursement by CYPRESS to
THE COMPANY of all of THE COMPANY’s expenses (including legal fees) incurred in
connection with or related to the Proposed Transaction, if the Proposed
Transaction is not consummated as a result of such breach. 

     10. Confidentiality. This
letter of intent and the Proposed Transaction shall remain confidential between
the parties. No public announcement shall be made by any of the parties or their
respective affiliates, representatives or advisors with respect to this letter
of intent or the Proposed Transaction without the approval of the other party,
unless otherwise required by law. The parties shall continue to abide by the
provisions of the Confidentiality Agreement dated as of May 28, 2010, by and
between THE COMPANY and CYPRESS. Such confidentiality would include, but would
not be limited to, the prohibition of disclosures to any customers of CYPRESS
that might purchase excess inventories prior to the transaction date, thereby
overloading the distribution channels.

     11. Non-Competition.
CYPRESS will agree for a period of ten (10) years to not compete with GRANISOL
in the relevant therapeutic or prophylaxis markets (the “Markets”) through
development, partnership, licensing, acquisition or in any other way make
available, distribute, market or sell a 5HT3 mechanism of action anti-emetic in
any formulation or dosing or any other anti-emetic working through a different
or complementary mechanism of action.

     12. Governing Law; Venue.
This letter of intent shall be, and the definitive purchase agreement will be,
governed by and construed in accordance with the laws of the State of New
Jersey, without regard to conflict of laws and principles thereof. THE COMPANY
and CYPRESS agree to submit to the exclusive jurisdiction of the courts of the
State of New Jersey and of the United States located in the State of New Jersey
and agree to waive, to the fullest extent permissible by law, any objection to
the laying of venue of any suit, action or proceeding arising out of this letter
of intent, or any definitive purchase agreement, in any such court.

     13. Expenses. Except as
set forth in paragraph 10, each party shall be responsible for the fees, costs
and expenses incurred by it in connection with the Proposed Transaction whether
or not the Proposed Transaction is consummated.

4

     14. Non-binding. This
letter of intent is not intended to bind THE COMPANY nor CYPRESS in any way, but
is written solely as an expression of the terms upon which THE COMPANY and
CYPRESS would consider the Proposed Transaction. Notwithstanding the foregoing
provision, THE COMPANY and CYPRESS intend paragraphs 10, 11, 12 and 13 and this
paragraph to be binding (the “Binding Paragraphs”). THE COMPANY
and CYPRESS intend that, other than the Binding Paragraphs, any legal rights and
obligations between THE COMPANY and CYPRESS will come into existence only upon
the parties’ execution and delivery of a written definitive purchase
agreement.

     If these basic terms and
conditions of the Proposed Transaction are acceptable to you, please indicate so
by executing this letter of intent below and returning it to the undersigned by
5:00 p.m., Eastern Daylight Time, on June 18, 2010, after which time the terms
of this letter of intent shall expire.

	 	Regards, 
	 	  	  
	 	Joe Carusone, Striker 
	 	  	  
	 	By: 	/s/ Joe Carusone 
	 	  	Name: Joe Carusone 
	 	  	Title: President 

Agreed and accepted as of ___, 2010.

	 	CYPRESS PHARMACEUTICAL, INC. 
	 	  	  
	 	By: 	/s/ Max Draughn 
	 	  	Name: Max Draughn 
	 	  	Title: CEO 

Witnessed.

	 	By: 	/s/ Cameron Durrant 
	 	  	Name: Cameron Durrant 
	 	  	Title: Consultant to Striker

 5exhibit10_1.htm

Exhibit 10.1

 

 

 

 

CONTRIBUTION, CONVEYANCE

 

 

 

AND ASSUMPTION AGREEMENT

 

 

BY AND AMONG

 

 

EL PASO PIPELINE PARTNERS, L.P.

 

 

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

 

 

EPPP SNG GP HOLDINGS, L.L.C.

 

 

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

 

 

SOUTHERN NATURAL GAS COMPANY

 

EL PASO PIPELINE GP COMPANY, L.L.C

 

AND

 

 

EL PASO CORPORATION

 

 

 

 

 

 

 

 

June 23, 2010

 

 

 

  

  

  

TABLE OF CONTENTS

 

 

ARTICLE 1

DEFINITIONS

 

 

ARTICLE 2

CONTRIBUTIONS, ACKNOWLEDGMENTS AND DISTRIBUTIONS

 

 

	
Section 2.1

	
Contribution by EP SNG of Subject Interest to the Partnership

	
3

 

	
Section 2.2

	
Payment of the Consideration for the Subject Interest Percentage

	
3

 

	
Section 2.3

	
Contribution by the Partnership of the Subject Interest Percentage to the Operating Company

	
3

 

	
Section 2.4

	
Capital Contribution of EPP GP to the Partnership.

	
4

 

	
Section 2.5

	
Issuance of General Partner Units.

	
4

 

	
Section 2.6

	
Contribution by the Operating Company of the Subject Interest Percentage to EPPP SNG

	
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

	
5

 

	
Section 5.6

	
Governing Law

	
5

 

	
Section 5.7

	
Severability

	
5

 

	
Section 5.8

	
Amendment or Modification

	
6

 

	
Section 5.9

	
Integration

	
6

 

	
Section 5.10

	
Deed; Bill of Sale; Assignment

	
6

 

  

-i-

  

 

 

 

CONTRIBUTION, CONVEYANCE

AND ASSUMPTION AGREEMENT

 

 

This CONTRIBUTION, CONVEYANCE AND ASSUMPTION AGREEMENT (this “Agreement”), dated as of June 23, 2010, is entered into by and among El Paso Pipeline Partners, L.P., a Delaware limited partnership (the “Partnership”), El Paso SNG Holding Company, L.L.C., a Delaware limited liability company and direct wholly-owned subsidiary of El Paso Corporation (“EP SNG”), El Paso Pipeline GP Company, L.L.C., a Delaware limited liability company and an indirect wholly-owned subsidiary of El Paso (“EPP GP”), EPPP SNG GP Holdings, L.L.C., a Delaware limited liability company and an indirect wholly-owned subsidiary of the Partnership (“EPPP SNG”), 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”), Southern Natural Gas Company, a Delaware general partnership (“SNG”), 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 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 general partner interest in SNG (the “Subject Interest”) pursuant to the terms of the Contribution Agreement (as defined below) and this Agreement; and

 

WHEREAS, EP SNG owns a 75% general partner interest in SNG and EPPP SNG owns a 25% general partner interest in SNG; 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 SNG will own between 55% and 59% of the general partner interest in SNG and EPPP SNG will own between 41% and 45% of the general partner interest in SNG; 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 SNG, EPPP SNG, the Operating Company, SNG and El Paso entered into that certain Contribution Agreement (the “Contribution Agreement”), dated June 17, 2010 pursuant to which the Partnership agreed to acquire the Subject Interest from the Contributing Parties for aggregate consideration of $394 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 SNG will contribute the Subject Interest to the Partnership in exchange for cash from the Partnership in the amount of $394 million, as may be adjusted pursuant to the Contribution Agreement (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 SNG.

 

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:

 

 

ARTICLE 1

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 Contribution Agreement.
	 	 	 
	 	(c)	“Closing” has the meaning assigned to such term in the recitals. 
	 	 	 
	 	(d)	“Closing Date” has the meaning assigned to such term in the Contribution Agreement. 
	 	 	 
	 	(e)	“Closing Time” shall mean 9:00 a.m. Houston, Texas time on the Closing Date. 
	 	 	 
	 	(f)	“Contributing Parties” has the meaning assigned to such term in the first paragraph of this Agreement. 
	 	 	 
	 	(g)	“Contribution Agreement” has the meaning assigned to such term in the recitals. 
	 	 	 
	 	(h)	“El Paso” has the meaning assigned to such term in the first paragraph of this Agreement.
	 	 	 
	 	(i)	“EP SNG” has the meaning assigned to such term in the first paragraph of this Agreement. 
	 	 	 
	 	(j)	“EPP GP” has the meaning assigned to such term in the first paragraph of this Agreement. 
	 	 	 
	 	(k) 	“EPPP SNG” has the meaning assigned to such term in the first paragraph of this Agreement.
	 	 	 

 

 

 

 

 

 

 

  

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	 	(l)	“Equity Financing Transaction” the meaning assigned to such term in the first paragraph of this Agreement.
	 	 	 
	 	(m) 	“General Partner Units” has the meaning assigned to such term in the Partnership Agreement.
	 	 	 
	 	(n)	“Operating Company” has the meaning assigned to such term in the first paragraph of this Agreement.
	 	 	 
	 	(o)	“Parties” has the meaning assigned to such term in the first paragraph of this Agreement.
	 	 	 
	 	(p)	“Partnership” has the meaning assigned to such term in the first paragraph of this Agreement.
	 	 	 
	 	(q)	“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.
	 	 	 
	 	(r)	“SNG” has the meaning assigned to such term in the first paragraph of this Agreement.
	 	 	 
	 	(s)	“Subject Interest” has the meaning assigned to such term in the recitals.
	 	 	 
	 	(t)	"Subject Interest Percentage" means at least 16% of the general partner interest in SNG.
	 	 	 

 

 

ARTICLE 2

CONTRIBUTIONS, ACKNOWLEDGMENTS AND DISTRIBUTIONS

 

 

 

Section 2.1   Contribution by EP SNG of the Subject Interest Percentage to the Partnership

 

EP SNG 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 Percentage, and the Partnership hereby accepts the Subject Interest Percentage from EP SNG.

 

Section 2.2   Payment of the Consideration for the Subject Interest Percentage.

 

The Parties acknowledge that the Partnership has paid the Consideration to EP SNG for the Subject Interest Percentage.  EP SNG hereby acknowledges receipt of the Consideration for the Subject Interest Percentage.

 

Section 2.3   Contribution by the Partnership of the Subject Interest Percentage 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 Percentage, and the Operating Company hereby accepts such contribution from the Partnership.

 

 

 

 

 

 

 

 

  

-3-

  

 

 

 

 

 

Section 2.4   Capital Contribution of EPP GP to the Partnership. The Parties acknowledge that EPP GP has contributed approximately $5,877,562 million in cash to the Partnership (representing an amount equal to 2/98ths of the aggregate capital contribution to the Partnership attributable to the Equity Financing Transaction) in exchange for a proportionate number of General Partner Units in the Partnership and an increase in the capital account of EPP GP by the amount of such cash contribution

 

Section 2.5   Issuance of General Partner Units. The Parties acknowledge that the Partnership has issued 204,082 General Partner Units (which number of units is equal to 2/98ths of the aggregate number of Common Units issued in the Equity Financing Transaction) to EPP GP.  EPP GP acknowledges receipt of such General Partner Units.

 

Section 2.6   Contribution by the Operating Company of the Subject Interest Percentage to EPPP SNG. The Operating Company hereby grants, contributes, bargains, conveys, assigns, transfers, sets over and delivers to EPPP SNG, its successors and assigns, for its and their own use forever, all right, title and interest in and to the Subject Interest Percentage, and EPPP SNG hereby accepts such contribution from the Operating Company.

 

 

 

ARTICLE 3

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) to 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) to more fully and effectively 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.

 

 

 

ARTICLE 4

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.

 

 

 

 

 

 

 

 

  

-4-

  

 

 

 

 

 

ARTICLE 5

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.

 

 

 

 

 

 

 

 

  

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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; Bill of Sale; Assignment.  To the extent required and permitted by applicable law, this Agreement shall also constitute a “deed,” “bill of sale” or “assignment” of the assets and interests referenced herein.

 

[Signature page follows]

 

 

 

 

 

 

 

 

  

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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

 	 
	 	 	 	 
	 	By: 	  /s/ John R. Sult 	 
	 	Name:	  John R. Sult 	 
	 	Title:  	  Senior Vice President and Chief Financial Officer	 
	 	 	 	 

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

	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	By: 	  /s/ John R. Sult 	 
	 	Name:	  John R. Sult  	 
	 	Title:	  Executive Vice President and Chief Financial Officer	 
	 	 	 	 

 

	 	 	 	 
	 	

EPPP SNG GP HOLDINGS, L.L.C.

	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	By: 	  /s/ John R. Sult 	 
	 	Name:	  John R. Sult  	 
	 	Title:  	  Executive Vice President and Chief Financial Officer	 
	 	 	 	 

 

	 	 	 	 
	 	

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

	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	By: 	  /s/ John R. Sult 	 
	 	Name:	  John R. Sult  	 
	 	Title:  	  Senior Vice President and Chief Financial Officer	 
	 	 	 	 

	 	 	 	 
	 	
SOUTHERN NATURAL GAS COMPANY

	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	By: 	  /s/ John R. Sult 	 
	 	Name:	  John R. Sult  	 
	 	Title: 	  Executive Vice President and Chief Financial Officer	 
	 	 	 	 

 

 

  

  

  

 

 

 

 

 

	 	 	 	 
	 	
EL PASO PIPELINE GP COMPANY, L.L.C.

	 
	 	 	 	 
	 	 	 	 
	 	 	 	 
	 	By: 	  /s/ John R. Sult 	 
	 	Name:	  John R. Sult  	 
	 	Title:	  Senior Vice President and Chief Financial Officer	 
	 	 	 	 

	 	 	 
	 	 	 
	 	

EL PASO CORPORATION

	 
	 	 	 
	 	 	 
	 	 	 	 
	
 

	
By: 

	  /s/ D. Mark Leland 	 
	 	Name: 	  D. Mark Leland 	 
	 	Title:  	  Executive Vice President

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00175-of-00352.parquet"}]]