SEC Contract Filing

Filing Date: 2019-01-02

Document Content:
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<TYPE>EX-10.1
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<FILENAME>contributionagreement.htm
<DESCRIPTION>EXHIBIT 10.1 - TC PIPELINES, LP
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<div style="TEXT-ALIGN: right">Exhibit 10.1</div>

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<div style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center">CONTRIBUTION AGREEMENT</div>

<div style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">THIS CONTRIBUTION AGREEMENT (this "<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Agreement</u></font>"), dated as of December 31, 2018, is entered into by and among TC PipeLines GP, Inc., a Delaware corporation ("<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>TC PipeLines GP")</u></font>, TC PipeLines, LP, a Delaware limited partnership ("<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>TC PipeLines</u></font>") and TC PipeLines Intermediate GP, LLC, a Delaware limited liability company ("<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>TCP Intermediate GP</u></font>").</div>

<div style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">WHEREAS, prior to the transactions contemplated by this Agreement, TC PipeLines GP, Inc. owns a 1.0101% general partner interest, and TC PipeLines owns a 98.9899% limited partner interest, in each of TC GL Intermediate Limited Partnership, a Delaware limited partnership ("<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>GL Intermediate</u></font>"), TC PipeLines Intermediate Limited Partnership, a Delaware limited partnership ("<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>PipeLines Intermediate</u></font>") and TC Tuscarora Intermediate Limited Partnership, a Delaware limited partnership ("<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Tuscarora Intermediate</u></font>", and together with GL Intermediate and PipeLines Intermediate, the "<font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><u>Intermediate Partnerships</u></font>");</div>

<div style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">WHEREAS, in connection with the transactions contemplated by this Agreement, TC PipeLines GP has formed TCP Intermediate GP;</div>

<div style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">WHEREAS, TC PipeLines GP desires to contribute and assign its 1.0101% general partner interest in each of the Intermediate Partnerships to TCP Intermediate GP, and TCP Intermediate GP desires to effect such contribution and assignment; and</div>

<div style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">WHEREAS, TC PipeLines GP further desires to contribute and assign its 100% membership interest in TCP Intermediate GP to TC PipeLines in exchange for the issuance of a 1.00% general partner interest in TC PipeLines, and TCP PipeLines desires to effect such contribution and assignment and issuance.</div>

<div style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; TEXT-ALIGN: justify; TEXT-INDENT: 36pt">NOW, THEREFORE, in consideration of their mutual undertakings and agreements hereunder, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties to this Agreement undertake and agree as follows:</div>

<div style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; TEXT-INDENT: 36pt">ARTICLE I</div>

<div style="FONT-SIZE: 10pt; MARGIN-BOTTOM: 12pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold; TEXT-ALIGN: center; TEXT-INDENT: 36pt">REORGANIZATION</div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: normal">Section 1.</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 72pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold"><u>Contribution by TC PipeLines GP of General Partner Interests in Intermediate Partnerships</u></font>.&#160; TC PipeLines GP hereby irrevocably contributes, assigns, conveys and transfers the 1.0101% general partner interest in each of the Intermediate Partnerships, as a capital contribution, to TCP Intermediate GP, and TCP Intermediate GP hereby acquires and accepts such general partner interests.</font></div>

<div style="MARGIN-BOTTOM: 12pt; TEXT-INDENT: 36pt"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif">Section 2.</font><font id="TRGRRTFtoHTMLTab" style="FONT-SIZE: 1px; WIDTH: 72pt; DISPLAY: inline-block">&#160;</font><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif"><font style="FONT-SIZE: 10pt; FONT-FAMILY: 'Times New Roman', Times, serif; FONT-WEIGHT: bold"><u>Contribution by TC PipeLines GP of Membership Interest in TCP Intermediate GP</u></font>.&#160; TC PipeLines GP hereby irrevocably contributes, assigns, conveys and transfers a 100% membership interest in TCP