Destin Pipeline Company, L.L.C.

Original Volume No. 1

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Effective Date: 04/06/2008, Docket: RP08-265-000, Status: Effective

Second Revised Sheet No. 244 Second Revised Sheet No. 244 : Pending

Superseding: First Revised Sheet No. 244

 

 

FORM OF RESERVE COMMITMENT AGREEMENT

 

THIS RESERVE COMMITMENT AGREEMENT (Agreement) is made and entered into

as of the ________ day of _____________________, 200___, by and between

DESTIN PIPELINE COMPANY, L.L.C., a Delaware limited liability company,

hereinafter referred to as Company and ____________ _____________, a

_______________________ corporation, hereinafter referred to as Shipper.

Company and Shipper shall collectively be referred to herein as the Parties.

 

ARTICLE I

DEFINITIONS

 

1.1 COMMITTED LEASE(S) - shall mean those OCS or State Waters leases set

forth on Exhibit "A" hereto.

 

1.2 AFFILIATE - For purposes of this Agreement, "affiliate" shall mean,

with respect to any relevant entity, any other entity that directly or

indirectly controls, is controlled by, or is under common control with,

such relevant entity in question. As used herein, the term "control"

(including its derivatives and similar terms) means owning or holding,

directly or indirectly, the power (i) to vote 10% or more of the Voting

Stock of any such relevant entity, or (ii) to direct or cause the

direction of the management and policies of any such relevant entity.

"Voting Stock" means capital stock issued by a corporation, or

equivalent interests in any other entity, the holders of which are

ordinarily, in the absence of contingencies, entitled to vote for the

election of directors (or entity with management authority performing

similar functions) of such entity.