Model 424B5 Targa Pipeline Mid-Conti Presented by: Grand Prix Pipeline LLC

Model 424B5 Targa Pipeline Mid-Conti Presented by: Grand Prix Pipeline LLC

(15) Any lien on any property or assets thereon at the time it is acquired by us or any of our affiliates and any lien on any property or assets of a person thereon at the time such person becomes an affiliate of us through an acquisition, merger or Other; provided that, in each case, such lien shall encumber only property or assets acquired or owned by such person at the time such person becomes an affiliate;

(16) liens imposed by law or regulation as a result of any proceeding before any court or regulatory body that are appealed in good faith, and liens that secure a judgment, judgment or other court-ordered settlement in respect of which we or the applicable entity has not exhausted its rights of appeal;

(17) any extension, renewal, refinancing, redemption or replacement (or extensions, renewals, refinancing, redemption or replacement) of the Privileges, in whole or in part, referred to in clauses (1) through (16) above; provided, however, that any extension, renewal, refinancing, refund or replacement of the lien shall be limited to the property or assets covered by the extended, renewed, refinanced, refund or replacement lien, and that the Obligations shall be secured by any such extension, renewal or replacement. The refinancing, refund or replacement of the franchise must be in an amount not to exceed the amount of the obligations secured by the extended, renewed, refinanced, refunded or exchanged franchise and any expenses of us or our affiliates (including any premium) incurred in connection with such extension or Renew, refinance, refund or exchange;

(18) any lien on the property or assets, or undertakings of Capital Stock, of (a) any joint venture owned by us or any of our affiliates or (b) any No asylum Subsidiary, in each case only to the extent of insurance No asylum The indebtedness of this joint venture or
No asylum Company; And

(19) Any lien resulting from the deposit of funds or evidence of indebtedness in the trust for the purpose of paying an indebtedness to us or any of our subsidiaries.

person“means any individual, corporation, partnership, limited liability company, joint venture, incorporated or unincorporated association, joint stock company, credit union, unincorporated organization, government or other agency, instrumentality or department Its political subsidiary or other entity of any kind.

Main property“means, whether owned or leased on the date of the initial issuance of the debt securities or acquired thereafter:

(1) Any pipeline assets of us or any of our affiliates, including any related facilities used to gather, transport, distribute, store or market natural gas, refined petroleum products, natural gas liquids and petrochemicals located in the United States. US states; And

(2) any processing, compression, processing, blending, or manufacturing plant or station owned or leased by us or any of our affiliates that is located in the United States except in the case of either the foregoing clause (i) or this clause (ii):

(a) any such assets consisting of inventory, furniture, fixtures, office equipment (including data processing equipment), vehicles and equipment used in or useful with the vehicles; And

(b) any such assets that, in our good faith opinion, are not material to the activities of our Company and our subsidiaries as a whole.

Restricted subsidiary“Subsidiary means any Subsidiary that owns or leases, directly or indirectly through ownership in another Subsidiary, any Principal Property.

“Company“means, in relation to any person, any company, association or business entity having more than 50% of the total voting power of the equity which is entitled (regardless of the occurrence of any contingency) to vote in the election of directors, managers or trustees of any partnership in which more than 50% of the equity of the partners (taking into account the equity of all the partners as a single class), in each case, is then owned or controlled, directly or indirectly, by such person or by one or more of the partners; Subsidiaries of that person or a group thereof.


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