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.
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.