|
|
|
|
|
|
|
|
Delaware
|
001-16417
|
74-2956831
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(State or other jurisdiction of incorporation)
|
(Commission File Number)
|
(I.R.S. Employer Identification No.)
|
|
|
|
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19003 IH-10 West
San Antonio, Texas 78257
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|
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(Address of principal executive offices)
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(210) 918-2000
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(Registrant’s telephone number, including area code)
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Not applicable
|
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(Former name or former address, if changed since last report.)
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•
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Sixth Amendment to Letter of Credit Agreement dated as of November 3, 2014 among NuStar Logistics, L.P., NuStar Energy L.P., the Lenders party thereto and Mizuho Bank, Ltd., as Issuing Bank and Administrative Agent;
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•
|
Amendment No. 1 to Letter of Credit Agreement and Subsidiary Guaranty Agreement dated as of November 3, 2014 among NuStar Logistics, L.P., NuStar Energy L.P., the Lenders party thereto and The Bank of Nova Scotia, as Issuing Bank and Administrative Agent; and
|
•
|
Amendment No. 1 to Letter of Credit Agreement and Subsidiary Guaranty Agreement dated as of November 3, 2014 among NuStar Logistics, L.P., NuStar Energy L.P., the Lenders party thereto and The Bank of Tokyo-Mitsubishi UFJ, Ltd., as Issuing Bank and Administrative Agent.
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Exhibit Number
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Exhibit
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Exhibit 10.1
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Sixth Amendment to Letter of Credit Agreement dated as of November 3, 2014 among NuStar Logistics, L.P., NuStar Energy L.P., the Lenders party thereto and Mizuho Bank, Ltd., as Issuing Bank and Administrative Agent
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Exhibit 10.2
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Amendment No. 1 to Letter of Credit Agreement and Subsidiary Guaranty Agreement dated as of November 3, 2014 among NuStar Logistics, L.P., NuStar Energy L.P., the Lenders party thereto and The Bank of Nova Scotia, as Issuing Bank and Administrative Agent
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Exhibit 10.3
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Amendment No. 1 to Letter of Credit Agreement and Subsidiary Guaranty Agreement dated as of November 3, 2014 among NuStar Logistics, L.P., NuStar Energy L.P., the Lenders party thereto and The Bank of Tokyo-Mitsubishi UFJ, Ltd., as Issuing Bank and Administrative Agent
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NUSTAR ENERGY L.P.
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|||
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By:
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Riverwalk Logistics, L.P.
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||
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its general partner
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By:
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NuStar GP, LLC
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its general partner
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Date: November 6, 2014
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By:
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/s/ Amy L. Perry
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Name:
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Amy L. Perry
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Title:
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Senior Vice President, General Counsel - Corporate & Commercial Law and Corporate Secretary
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Exhibit Number
|
|
Exhibit
|
|
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Exhibit 10.1
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Sixth Amendment to Letter of Credit Agreement dated as of November 3, 2014 among NuStar Logistics, L.P., NuStar Energy L.P., the Lenders party thereto and Mizuho Bank, Ltd., as Issuing Bank and Administrative Agent
|
|
|
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Exhibit 10.2
|
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Amendment No. 1 to Letter of Credit Agreement and Subsidiary Guaranty Agreement dated as of November 3, 2014 among NuStar Logistics, L.P., NuStar Energy L.P., the Lenders party thereto and The Bank of Nova Scotia, as Issuing Bank and Administrative Agent
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|
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Exhibit 10.3
|
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Amendment No. 1 to Letter of Credit Agreement and Subsidiary Guaranty Agreement dated as of November 3, 2014 among NuStar Logistics, L.P., NuStar Energy L.P., the Lenders party thereto and The Bank of Tokyo-Mitsubishi UFJ, Ltd., as Issuing Bank and Administrative Agent
|
By:
|
Riverwalk Logistics, L.P., its General Partner
|
By:
|
NuStar Pipeline Company, LLC, its General Partner
|
Subsidiary
|
Jurisdiction of
Formation |
Restricted/
Unrestricted/Material
|
Ownership
Percentage |
Bicen Development Corporation N.V.
|
Sint Eustatius
|
Restricted
|
100%
|
Cooperatie NuStar Holdings U.A.
|
Netherlands
|
Restricted
|
100%
|
Diamond K Limited
|
Bermuda
|
Restricted
|
100%
|
LegacyStar, Inc.
|
Delaware
|
Restricted
|
100%
|
LegacyStarInvestment, LLC
|
Delaware
|
Restricted
|
100%
|
LegacyStar, LLC
|
Delaware
|
Restricted
|
100%
|
Kaneb Management, LLC
|
Delaware
|
Restricted
|
100%
|
Kaneb Management Company LLC
|
Delaware
|
Restricted
|
100%
|
NuStar Pipeline Company, LLC
|
Delaware
|
Restricted
|
100%
|
NuStar Pipeline Holding Company, LLC
|
Delaware
|
Restricted
|
100%
|
NuStar Pipeline Operating Partnership L.P.
|
Delaware
|
Restricted - Material
|
100%
|
NuStar Pipeline Partners L.P.
|
Delaware
|
Restricted
|
100%
|
LegacyStarServices, LLC
|
Delaware
|
Restricted
|
100%
|
NS Security Services, LLC
|
Delaware
|
Restricted
|
100%
|
NuStar Asphalt Chickasaw, LLC
|
Texas
|
Restricted
|
100%
|
NuStar Asphalt Holdings, Inc.
|
Delaware
|
Restricted
|
100%
|
NuStar Asphalt Holdings, LLC
|
Delaware
|
Restricted
|
100%
|
NuStar Refining, LLC
|
Delaware
|
Restricted
|
100%
|
NuStar Supply & Trading LLC
|
Delaware
|
Restricted
|
100%
|
NuStar Terminals B.V.
|
Netherlands
|
Restricted
|
100%
|
NuStar Eastham Limited
|
England
|
Restricted
|
100%
|
NuStar Terminals Limited
|
England
|
Restricted
|
100%
|
NuStar Energy Services, Inc.
|
Delaware
|
Restricted
|
100%
|
NuStar Burgos, LLC
|
Delaware
|
Restricted
|
100%
|
NuStar GP, Inc.
|
Delaware
|
Restricted
|
100%
|
NuStar Holdings B.V.
|
Netherlands
|
Restricted
|
100%
|
NuStar Internacioncal, S. deR.L. de C.V.
|
Mexico
|
Restricted
|
100%
|
NuStar Logistics, L.P.
|
Delaware
|
Restricted - Material
|
100%
|
Petroburgos, S. de R.L. de C.V.
|
Mexico
|
Restricted
|
100%
|
Point Tupper Marine Services Co.
|
Nova Scotia
|
Restricted
|
100%
|
NuStar Grangemouth Limited
|
England
|
Restricted
|
100%
|
Saba Company N.V.
|
Sint Eustatius
|
Restricted
|
100%
|
Seven Seas Steamship Company (Sint Eustatius) N.V.
|
Sint Eustatius
|
Restricted
|
100%
|
Shore Terminals LLC
|
Delaware
|
Restricted
|
100%
|
NuStar Texas Holding, Inc.
|
Delaware
|
Restricted
|
100%
|
NuStar Terminals Texas, Inc.
|
Delaware
|
Restricted
|
100%
|
Subsidiary
|
Jurisdiction of
Formation |
Restricted/
Unrestricted/Material
|
Ownership
Percentage |
NuStar Terminals Partners TX L.P.
|
Delaware
|
Restricted
|
100%
|
NuStar Technology, Inc.
|
Delaware
|
Restricted
|
100%
|
NuStar Terminals Antilles N.V.
|
Curacao
|
Restricted
|
100%
|
NuStar Terminals Canada Co.
|
Nova Scotia
|
Restricted
|
100%
|
NuStar Terminals Canada Holdings Co
|
Nova Scotia
|
Restricted
|
100%
|
NuStar Terminals Canada Partnership
|
Nova Scotia
|
Restricted
|
100%
|
NuStar Terminals Corporation N.V.
|
Curacao/Netherlands
|
Restricted
|
100%
|
NuStar Terminals Delaware, Inc.
|
Delaware
|
Restricted
|
100%
|
NuStar Caribe Terminals, Inc.
|
Delaware
|
Restricted
|
100%
|
NuStar Terminals International N.V.
|
Curacao
|
Restricted
|
100%
|
NuStar Terminals Marine Services N.V.
|
Sint Eustatius
|
Restricted
|
100%
|
NuStar Terminals New Jersey, Inc.
|
Delaware
|
Restricted
|
100%
|
NuStar Terminals N.V.
|
Sint Eustatius
|
Restricted - Material
|
100%
|
NuStar Terminals Operations Partnership L.P.
|
Delaware
|
Restricted
|
100%
|
NuStar Terminals Services, Inc.
|
Delaware
|
Restricted
|
100%
|
Texas Energy Services LLC
|
Delaware
|
Restricted
|
100%
|
•
|
the Indenture;
|
•
|
this Agreement;
|
•
|
Letter of Credit Agreement dated as of June 5, 2013 among NuStar Logistics, L.P., NuStar Energy L.P., the Lenders party thereto and The Bank of Nova Scotia, as Issuing Bank and Administrative Agent, as amended; and
|
•
|
Letter of Credit Agreement dated as of September 3, 2014 among NuStar Logistics, L.P., NuStar Energy L.P., the Lenders party thereto and The Bank of Tokyo-Mitsubishi UFJ, Ltd., as Issuing Bank and Administrative Agent.
|
1.
|
Amendments to Credit Agreement
. Subject to the terms and conditions set forth herein, the Credit Agreement is hereby amended as follows:
|
(a)
|
Section 1.01 of the Credit Agreement is amended by adding the following definitions in their proper alphabetical order:
|
(i)
|
“
Anti-Corruption Laws
means all laws, rules, and regulations of any jurisdiction applicable to the MLP, the Borrower or any of their respective Subsidiaries from time to time concerning or relating to bribery, money laundering or corruption.”
|
(ii)
|
“
Covered Material Indebtedness
means Indebtedness of the MLP or any Subsidiary of the MLP in an aggregate principal amount exceeding $200,000,000.”
|
(iii)
|
“
LIBO Rate
means the applicable LIBO Screen Rate; provided that if any LIBO Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.”
|
(iv)
|
“
LIBO Screen Rate
means the London interbank offered rate as administered by ICE Benchmark Administration (or any other Person that takes over the administration of such rate) for Dollars for a period equal in length to the relevant calculation period as displayed on pages LIBOR01 or LIBOR02 of the Reuters screen or, in the event such rate does not appear on either of such Reuters pages, on any successor or substitute page on such screen that displays such rate, or on the appropriate page of such other information service that publishes such rate as shall be selected by the Administrative Agent from time to time in its reasonable discretion as of the time of such calculation.”
|
(v)
|
“
Sanctioned Country
means, at any time, a country or territory which is itself, or whose government is, the subject or target of any Sanctions broadly restricting or prohibiting dealing with such country, territory or government (at the time of this Agreement, Cuba, Iran, North Korea, Sudan and Syria).”
|
(vi)
|
“
Sanctioned Person
means, at any time, any Person with whom dealings are restricted or prohibited under Sanctions, including (a) any Person listed in any Sanctions-related list of designated Persons maintained by the United States (including by the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State, or the U.S. Department of Commerce), or by the United Nations Security Council, the European Union or any EU member state, or Her Majesty’s Treasury, (b) any Person located, operating, organized or resident in a Sanctioned Country or (c) any Person directly or indirectly owned or controlled by any such Person or Persons.”
|
(vii)
|
“
Sanctions
means economic or financial sanctions or trade embargoes or restricted measures imposed, administered or enforced from time to time by (a) the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, or (b) the United Nations Security Council, the European Union or Her Majesty’s Treasury of the United Kingdom.”
|
(viii)
|
“
Securitization Entity
means any Person engaged solely in the business of effecting
Securitization Transactions and related activities.”
|
(ix)
|
“
Securitization Obligations
has the meaning given such term in the definition of Securitization
Transaction.”
|
(x)
|
“
Securitization Transaction
means any transaction in which the Borrower or a Restricted Subsidiary sells or otherwise transfers accounts receivable or other rights to payment (whether existing or arising in the future) and assets related thereto (a) to one or more purchasers or (b) to a special purpose entity that (i) borrows under a loan secured by or issues securities payable from such accounts receivable or other rights to payment (or undivided interests therein) and related assets or (ii) sells or otherwise transfers such accounts receivable or other rights to payment (or undivided interests therein) and related assets to one or more purchasers, whether or not amounts received in connection with the sale or other transfer of such accounts receivable or other rights to payment and related assets to an entity referred to in clause (a) or (b) above would under GAAP be accounted for as liabilities on a consolidated balance sheet of the Borrower. The amount of any Securitization Transaction (“
Securitization Obligations
”) shall be deemed at any time to be (1) the aggregate outstanding principal or stated amount of the borrowings or securities in connection with the transactions referred to in clause (b)(i) of the preceding sentence; (2) the outstanding amount of capital invested in or unrecovered outstanding purchase price paid in connection with a transaction referred to in clause (b)(ii) of the preceding sentence; or (3) if there shall be no such principal or stated amount or outstanding capital invested or unrecovered purchase price, the uncollected amount of the accounts receivable transferred to such purchaser(s) pursuant to such Securitization Transaction net of any such accounts receivable that have been written off as uncollectible and any discount in the purchase price thereof.”
|
(b)
|
Section 1.01 of the Credit Agreement is amended by deleting the definitions “Asphalt Business Disposition”, “NPOP Indenture”, “NPOP Notes” and “UK Credit Agreement” in their entirety and all references thereto in the Credit Agreement.
|
(c)
|
Section 1.01 of the Credit Agreement is amended by deleting the definitions for “Business Day”, “Consolidated Debt”, “Federal Funds Effective Rate”, “Indebtedness”, “Note Indentures”, “NuStar Logistics Indenture”, and “Revolving Credit Agreement” in their entirety and substituting in lieu thereof the following:
|
(i)
|
“
Business Day
means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are authorized or required by law to remain closed; provided that (a) when used in connection with any amount bearing interest at the Alternate Base Rate at a time when such rate is calculated by reference to the Adjusted LIBO Rate, the term “Business Day” shall also exclude any day on which banks are not open for general business in London.”
|
(ii)
|
“
Consolidated Debt
means, for any day, all Indebtedness of the MLP and its Restricted Subsidiaries (excluding (a) the principal amount of Hybrid Equity Securities in an aggregate amount not to exceed 15% of Total Capitalization and (b) the Excluded Go-Zone Bond Proceeds in an aggregate amount not to exceed $350,000,000), on a consolidated basis, as of such day.”
|
(iii)
|
“
Federal Funds Effective Rate
means, for any day, the weighted average (rounded upwards, if necessary, to the next 1/100 of 1%) of the rates on overnight Federal funds transactions with members of the Federal Reserve System arranged by Federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average (rounded upwards, if necessary, to the next 1/100 of 1%) of the quotations for such day for such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected by it; provided, that, if the Federal Funds Effective Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement.”
|
(iv)
|
“
Indebtedness
of any Person means, without duplication, (a) all obligations of such Person for borrowed money or with respect to deposits or advances of any kind, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments or by any other securities providing for the mandatory payment of money (including, without limitation, preferred stock subject to mandatory redemption or sinking fund provisions), (c) all obligations of such Person upon which interest charges are customarily paid, (d) all obligations of such Person under conditional sale or other title retention agreements relating to property acquired by such Person, (e) all obligations of such Person in respect of the deferred purchase price of property or services (excluding current accounts payable incurred in the ordinary course of business), (f) all Indebtedness of others secured by (or for which the holder of such
Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed, (g) all Guarantees by such Person of Indebtedness of others, (h) all Capital Lease Obligations of such Person, (i) all non-contingent obligations of such Person as an account party in respect of letters of credit and letters of guaranty, (j) all obligations, contingent or otherwise, of such Person in respect of bankers’ acceptances, (k) all obligations of such Person with respect to any
arrangement, directly or indirectly, whereby such Person or its Subsidiaries shall sell or transfer any material asset, and whereby such Person or any of its Subsidiaries shall then or immediately thereafter rent or lease as lessee such asset or any part thereof, and (l) all Securitization Obligations. The Indebtedness of any Person shall include the Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such Person’s ownership
|
(v)
|
“
Note Indenture
means the NuStar Logistics Indenture.”
|
(vi)
|
“
NuStar Logistics Indenture
means that certain Indenture dated as of July 15, 2002 among the MLP, the Borrower and Wells Fargo Bank, National Association (the “NuStar Logistics Trustee”), as amended and supplemented by a First Supplemental Indenture thereto dated as of July 15, 2002, a Second Supplemental Indenture thereto dated as of March 18, 2003, a Third Supplemental Indenture dated as of July 1, 2005, a Fourth Supplemental Indenture thereto dated as of April 4, 2008, a Fifth Supplemental Indenture thereto dated as of August 12, 2010, a Sixth Supplemental Indenture thereto dated as of February 2, 2012, and a Seventh Supplemental Indenture thereto dated as of August 19, 2013, by and among the Borrower, the MLP as guarantor, NPOP, as affiliate guarantor and the NuStar Logistics Trustee.”
|
(vii)
|
“
Revolving Credit Agreement
means that certain Amended and Restated 5-Year Revolving Credit Agreement dated as of October 29, 2014 among the Borrower, the MLP, the lenders party thereto, and JPMorgan Chase Bank, N.A., as administrative agent, as amended, modified, supplemented or restated.”
|
(d)
|
Section 2.01(a)(i) of the Credit Agreement is hereby amended by adding the following to the end thereof:
|
(e)
|
The Credit Agreement is hereby amended by adding the following new Section 3.13 at the end of Section 3.12:
|
(f)
|
Section 5.07 of the Credit Agreement is amended by adding the following sentence at the end of such Section:
|
(g)
|
Section 5.08 of the Credit Agreement is amended by adding the following sentence at the end of such Section:
|
(h)
|
Section 5.11 of the Credit Agreement is amended by deleting such Section in its entirety and substituting in lieu thereof the following:
|
(i)
|
Section 6.01 of the Credit Agreement is amended by:
|
(i)
|
deleting in its entirety clause (c) thereof and substituting in lieu thereof the following:
|
(ii)
|
deleting in its entirety clause (f) thereof and substituting in lieu thereof the phrase “[Reserved]”.
|
(iii)
|
deleting in its entirety the last paragraph thereof in its entirety and replacing it with the following:
|
(j)
|
Section 6.02 of the Credit Agreement is amended by deleting the phrase “clause (f) of Section 6.01,” and substituting in lieu thereof the following:
|
(k)
|
Section 6.02 of the Credit Agreement is amended by deleting clause (e) thereof and substituting in lieu thereof the following:
|
(l)
|
Section 6.04 of the Credit Agreement is amended by deleting clause (e) thereof and substituting in lieu thereof the following:
|
(m)
|
Section 6.08 of the Credit Agreement is amended by deleting such Section in its entirety and substituting in lieu thereof the following:
|
(n)
|
Section 6.11 of the Credit Agreement
is amended by deleting such Section in its entirety and substituting in lieu thereof the following:
|
(o)
|
Section 10.01 of the Credit Agreement is amended by deleting the phrase “Executive Vice President, Chief Financial Officer and Treasurer (Telecopy No. (210) 918-5055)” in clause (a)(i) and substituting in lieu thereof the following:
|
(p)
|
Section 10.02 of the Credit Agreement is amended by deleting the penultimate sentence of Section 10.02(b) and substituting in lieu thereof the following:
|
(q)
|
Section 10.09(b) of the Credit Agreement is hereby deleted in its entirety and replaced with the following:
|
(r)
|
Clauses (a) and (b) of Section 10.12 of the Credit Agreement are hereby deleted in its entirety and replaced with the following:
|
(s)
|
Schedules 3.12, 6.01 and 6.08 of the Credit Agreement are deleted in their entirety and the Schedules set forth in
Exhibit A
to this Agreement are substituted in lieu thereof.
|
2.
|
Amendment to the Subsidiary Guaranty
. Subject to the terms and conditions set forth herein, the Subsidiary Guaranty is hereby amended by deleting Section 6.15 thereof in its entirety and substituting in lieu thereof the following:
|
3.
|
Effectiveness; Conditions Precedent
. The effectiveness of this Agreement and the amendments to the Credit Agreement herein provided are subject to the satisfaction of the following conditions precedent:
|
(a)
|
the Administrative Agent shall have received each of the following documents or instruments in form and substance reasonably acceptable to the Administrative Agent:
|
(viii)
|
counterparts of this Agreement, duly executed by the Borrower, the MLP, each Guarantor, the Issuing Bank, the Administrative Agent and all the Lenders;
|
(ix)
|
such other documents, instruments, certifications, undertakings, further assurances and other matters as the Administrative Agent shall reasonably request; and
|
(b)
|
all fees and expenses payable to the Administrative Agent and the Lenders (including the fees and expenses of counsel to the Administrative Agent) estimated to date shall have been paid in full (without prejudice to final settling of accounts for such fees and expenses).
|
4.
|
Consent of the Guarantors
. Each Guarantor hereby consents, acknowledges and agrees to the amendments set forth herein, including without limitation the amendment to the Subsidiary Guaranty, and hereby confirms and ratifies in all respects the Subsidiary Guaranty to which such Guarantor is a party (including without limitation the continuation of such Guarantor’s payment and performance obligations thereunder upon and after the effectiveness of this Agreement and the amendments contemplated hereby) and the enforceability of such Subsidiary Guaranty against such Guarantor in accordance with its terms.
|
5.
|
Representations and Warranties
. In order to induce the Issuing Bank, the Administrative Agent and the Lenders to enter into this Agreement, the Loan Parties represent and warrant to the Issuing Bank, the Administrative Agent and the Lenders as follows:
|
(a)
|
The representations and warranties made by each Loan Party in Article III of the Credit Agreement and in each of the other Loan Documents to which such Loan Party is a party are true and correct on and as of the date hereof, except to the extent that such representations and warranties expressly relate to an earlier date;
|
(b)
|
Since the date of the most recent financial reports of the Borrower and the MLP delivered pursuant to Section 5.01 of the Credit Agreement, no act, event, condition or circumstance has occurred or arisen which, singly or in the aggregate with one or more other acts, events, occurrences or conditions (whenever occurring or arising), has had or could reasonably be expected to have a Material Adverse Effect;
|
(c)
|
The Persons appearing as Guarantors on the signature pages to this Agreement constitute all Persons who are required to be Guarantors pursuant to the terms of the Credit Agreement and the other Loan Documents, including without limitation all Persons who became Subsidiaries or were otherwise required to become Guarantors after the Effective Date, and each of such Persons has become and remains a party to a Subsidiary Guaranty as a Guarantor;
|
(d)
|
This Agreement has been duly authorized, executed and delivered by the Loan Parties and constitute a legal, valid and binding obligation of such parties, except as may be limited by general principles of equity or by the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or similar law affecting creditors’ rights generally; and
|
(e)
|
No Default or Event of Default has occurred and is continuing.
|
6.
|
Entire Agreement
. This Agreement, together with all the Loan Documents (collectively, the “
Relevant Documents
”), sets forth the entire understanding and agreement of the parties hereto in relation to the subject matter hereof and supersedes any prior negotiations and agreements among the parties relating to such subject matter. No promise, condition, representation or warranty, express or implied, not set forth in the Relevant Documents shall bind any party hereto, and no such party has relied on any such promise, condition, representation or warranty. Each of the parties hereto acknowledges that, except as otherwise expressly stated in the Relevant Documents, no representations, warranties or commitments, express or implied, have been made by any party to the other in relation to the subject matter hereof or thereof. None of the terms or conditions of this Agreement may be changed, modified, waived or canceled orally or otherwise, except in writing and in accordance with Section 10.02 of the Credit Agreement.
|
7.
|
Full Force and Effect of Agreement
. Except as hereby specifically amended, modified or supplemented, the Credit Agreement and all other Loan Documents are hereby confirmed and ratified in all respects and shall be and remain in full force and effect according to their respective terms.
|
8.
|
Counterparts
. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against any party whose signature appears thereon, and all of which shall together constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Agreement by telecopy or e-mail transmission shall be effective as delivery of a manually executed counterpart of this Agreement.
|
9.
|
Governing Law
. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York and shall be further subject to the provisions of Section 10.09 of the Credit Agreement.
|
10.
|
Enforceability
. Should any one or more of the provisions of this Agreement be determined to be illegal or unenforceable as to one or more of the parties hereto, all other provisions nevertheless shall remain effective and binding on the parties hereto.
|
11.
|
References
. All references in any of the Loan Documents to the “Credit Agreement” shall mean the Credit Agreement, as amended hereby.
|
12.
|
Successors and Assigns
. This Agreement shall be binding upon and inure to the benefit of the Borrower, the MLP, each Guarantor, the Issuing Bank, the Administrative Agent and Lenders, and their respective successors, legal representatives, and assignees to the extent such assignees are permitted assignees as provided in Section 10.04 of the Credit Agreement.
|
Subsidiary
|
Jurisdiction of
Formation |
Restricted/Unrestricted/Material
|
Ownership
Percentage |
Bicen Development Corporation N.V.
|
Sint Eustatius
|
Restricted
|
100%
|
Cooperatie NuStar Holdings U.A.
|
Netherlands
|
Restricted
|
100%
|
Diamond K Limited
|
Bermuda
|
Restricted
|
100%
|
LegacyStar, Inc.
|
Delaware
|
Restricted
|
100%
|
LegacyStarInvestment, LLC
|
Delaware
|
Restricted
|
100%
|
LegacyStar, LLC
|
Delaware
|
Restricted
|
100%
|
Kaneb Management, LLC
|
Delaware
|
Restricted
|
100%
|
Kaneb Management Company LLC
|
Delaware
|
Restricted
|
100%
|
NuStar Pipeline Company, LLC
|
Delaware
|
Restricted
|
100%
|
NuStar Pipeline Holding Company, LLC
|
Delaware
|
Restricted
|
100%
|
NuStar Pipeline Operating Partnership L.P.
|
Delaware
|
Restricted - Material
|
100%
|
NuStar Pipeline Partners L.P.
|
Delaware
|
Restricted
|
100%
|
LegacyStarServices, LLC
|
Delaware
|
Restricted
|
100%
|
NS Security Services, LLC
|
Delaware
|
Restricted
|
100%
|
NuStar Asphalt Chickasaw, LLC
|
Texas
|
Restricted
|
100%
|
NuStar Asphalt Holdings, Inc.
|
Delaware
|
Restricted
|
100%
|
NuStar Asphalt Holdings, LLC
|
Delaware
|
Restricted
|
100%
|
NuStar Refining, LLC
|
Delaware
|
Restricted
|
100%
|
NuStar Terminals B.V.
|
Netherlands
|
Restricted
|
100%
|
NuStar Eastham Limited
|
England
|
Restricted
|
100%
|
Subsidiary
|
Jurisdiction of
Formation |
Restricted/Unrestricted/Material
|
Ownership
Percentage |
NuStar Terminals Limited
|
England
|
Restricted
|
100%
|
NuStar Energy Services, Inc.
|
Delaware
|
Restricted
|
100%
|
NuStar Burgos, LLC
|
Delaware
|
Restricted
|
100%
|
NuStar GP, Inc.
|
Delaware
|
Restricted
|
100%
|
NuStar Holdings B.V.
|
Netherlands
|
Restricted
|
100%
|
NuStar Internacioncal, S. deR.L. de C.V.
|
Mexico
|
Restricted
|
100%
|
NuStar Logistics, L.P.
|
Delaware
|
Restricted - Material
|
100%
|
NuStar Supply & Trading LLC
|
Delaware
|
Restricted
|
100%
|
Petroburgos, S. de R.L. de C.V.
|
Mexico
|
Restricted
|
100%
|
Point Tupper Marine Services Co.
|
Nova Scotia
|
Restricted
|
100%
|
NuStar Grangemouth Limited
|
England
|
Restricted
|
100%
|
Saba Company N.V.
|
Sint Eustatius
|
Restricted
|
100%
|
Seven Seas Steamship Company (Sint Eustatius) N.V.
|
Sint Eustatius
|
Restricted
|
100%
|
Shore Terminals LLC
|
Delaware
|
Restricted
|
100%
|
NuStar Texas Holding, Inc.
|
Delaware
|
Restricted
|
100%
|
NuStar Terminals Texas, Inc.
|
Delaware
|
Restricted
|
100%
|
NuStar Terminals Partners TX L.P.
|
Delaware
|
Restricted
|
100%
|
NuStar Technology, Inc.
|
Delaware
|
Restricted
|
100%
|
NuStar Terminals Antilles N.V.
|
Curacao
|
Restricted
|
100%
|
NuStar Terminals Canada Co.
|
Nova Scotia
|
Restricted
|
100%
|
NuStar Terminals Canada Holdings Co
|
Nova Scotia
|
Restricted
|
100%
|
NuStar Terminals Canada Partnership
|
Nova Scotia
|
Restricted
|
100%
|
Subsidiary
|
Jurisdiction of
Formation |
Restricted/Unrestricted/Material
|
Ownership
Percentage |
NuStar Terminals Corporation N.V.
|
Curacao / Netherlands
|
Restricted
|
100%
|
NuStar Terminals Delaware, Inc.
|
Delaware
|
Restricted
|
100%
|
NuStar Caribe Terminals, Inc.
|
Delaware
|
Restricted
|
100%
|
NuStar Terminals International N.V.
|
Curacao
|
Restricted
|
100%
|
NuStar Terminals Marine Services N.V.
|
Sint Eustatius
|
Restricted
|
100%
|
NuStar Terminals New Jersey, Inc.
|
Delaware
|
Restricted
|
100%
|
NuStar Terminals N.V.
|
Sint Eustatius
|
Restricted - Material
|
100%
|
NuStar Terminals Operations Partnership L.P.
|
Delaware
|
Restricted
|
100%
|
NuStar Terminals Services, Inc.
|
Delaware
|
Restricted
|
100%
|
Texas Energy Services LLC
|
Delaware
|
Restricted
|
100%
|
1.
|
Amendments to Credit Agreement
. Subject to the terms and conditions set forth herein, the Credit Agreement is hereby amended as follows:
|
(a)
|
Section 1.01 of the Credit Agreement is amended by adding the following definitions in their proper alphabetical order:
|
(i)
|
“
Anti-Corruption Laws
” means all laws, rules, and regulations of any jurisdiction applicable to the MLP, the Borrower or any of their respective Subsidiaries from time to time concerning or relating to bribery, money laundering or corruption.”
|
(i)
|
“
Covered Material Indebtedness
” means Indebtedness of the MLP or any Subsidiary of the MLP in an aggregate principal amount exceeding $200,000,000.”
|
(ii)
|
“
Sanctioned Country
” means, at any time, a country or territory which is itself, or whose government is, the subject or target of any Sanctions broadly restricting or prohibiting dealing with such country, territory or government (at the time of this Agreement, Cuba, Iran, North Korea, Sudan and Syria).
|
(iii)
|
“
Sanctioned Person
” means, at any time, any Person with whom dealings are restricted or prohibited under Sanctions, including (a) any Person listed in any Sanctions-related list of designated Persons maintained by the United States (including by the Office of Foreign Assets Control of the U.S. Department of the Treasury, the U.S. Department of State, or the U.S. Department of Commerce), or by the United Nations Security Council, the European Union or any EU member state, or Her Majesty’s Treasury, (b) any Person located, operating, organized or resident in a Sanctioned Country or (c) any Person directly or indirectly owned or controlled by any such Person or Persons.”
|
(iv)
|
“
Securitization Entity
” means any Person engaged solely in the business of effecting
Securitization Transactions and related activities.
|
(v)
|
“
Securitization Obligations
” has the meaning given such term in the definition of Securitization
Transaction.
|
(vi)
|
“
Securitization Transaction
” means any transaction in which the Borrower or a Restricted Subsidiary sells or otherwise transfers accounts receivable or other rights to payment (whether existing or arising in the future) and assets related thereto (a) to one or more purchasers or (b) to a special purpose entity that (i) borrows under a loan secured by or issues securities payable from such accounts receivable or other rights to payment (or undivided interests therein) and related assets or (ii) sells or otherwise transfers such accounts receivable or other rights to payment (or undivided interests therein) and related assets to one or more purchasers, whether or not amounts received in connection with the sale or other transfer of such accounts receivable or other rights to payment and related assets to an entity referred to in clause (a) or (b) above would under GAAP be accounted for as liabilities on a consolidated balance sheet of the Borrower. The amount of any Securitization Transaction (“
Securitization Obligations
”) shall be deemed at any time to be (1) the aggregate outstanding principal or stated amount of the borrowings or securities in connection with the transactions referred to in clause (b)(i) of the preceding sentence; (2) the outstanding amount of capital invested in or unrecovered outstanding purchase price paid in connection with a transaction referred to in clause (b)(ii) of the preceding sentence; or (3) if there shall be no such principal or stated amount or outstanding capital invested or unrecovered purchase price, the uncollected amount of the accounts receivable transferred to such purchaser(s) pursuant to such Securitization Transaction net of any such accounts receivable that have been written off as uncollectible and any discount in the purchase price thereof.”
|
(b)
|
Section 1.01 of the Credit Agreement is amended by deleting the definitions “NPOP Indenture” and “UK Credit Agreement” in their entirety and all references thereto in the Credit Agreement.
|
(c)
|
Section 1.01 of the Credit Agreement is amended by deleting the definitions “Consolidated Debt”, “Indebtedness”, “NuStar Logistics Indenture”, “Revolving Credit Agreement”, and “Sanctions” in their entirety and substituting in lieu thereof the following:
|
(i)
|
“
Consolidated Debt
” means, for any day, all Indebtedness of the MLP and its Restricted Subsidiaries (excluding (a) the principal amount of Hybrid Equity Securities in an aggregate amount not to exceed 15% of Total Capitalization and (b) the Excluded Go-Zone Bond Proceeds in an aggregate amount not to exceed $350,000,000), on a consolidated basis, as of such day.”
|
(ii)
|
“
Indebtedness
” of any Person means, without duplication, (a) all obligations of such Person for borrowed money or with respect to deposits or advances of any kind, (b) all obligations of such Person evidenced by bonds, debentures, notes or similar instruments or by any other securities providing for the mandatory payment of money (including, without limitation, preferred stock subject to mandatory redemption or sinking fund provisions), (c) all obligations of such Person upon which interest charges are customarily paid, (d) all obligations of such Person under conditional sale or other title retention agreements relating to property acquired by such Person, (e) all obligations of such Person in respect of the deferred purchase price of property or services (excluding current accounts payable incurred in the ordinary course of business), (f) all Indebtedness of others secured by (or for which the holder of such Indebtedness has an existing right, contingent or otherwise, to be secured by) any Lien on property owned or acquired by such Person, whether or not the Indebtedness secured thereby has been assumed, (g) all Guarantees by such Person of Indebtedness of others, (h) all Capital Lease Obligations of such Person, (i) all non-contingent obligations of such Person as an account party in respect of letters of credit and letters of guaranty, (j) all obligations, contingent or otherwise, of such Person in respect of bankers’ acceptances, (k) all obligations of such Person with respect to any arrangement, directly or indirectly, whereby such Person or its Subsidiaries shall sell or transfer any material asset, and whereby such Person or any of its Subsidiaries shall then or immediately thereafter rent or lease as lessee such asset or any part thereof, and (l) all Securitization Obligations. The Indebtedness of any Person shall include the Indebtedness of any other entity (including any partnership in which such Person is a general partner) to the extent such Person is liable therefor as a result of such Person’s ownership interest in or other relationship with such entity, except to the extent the terms of such Indebtedness provide that such Person is not liable therefor.”
|
(iii)
|
“
NuStar Logistics Indenture
” means that certain Indenture dated as of July 15, 2002 among the MLP, the Borrower and Wells Fargo Bank, National Association (the “NuStar Logistics Trustee”), as amended and supplemented
|
(iv)
|
“
Revolving Credit Agreement
” means that certain Amended and Restated Credit Agreement dated as of October 29, 2014 among the Borrower, the MLP, the lenders party thereto, and JPMorgan Chase Bank, N.A., as administrative agent, as amended, modified, supplemented or restated.”
|
(v)
|
“
Sanctions
” means economic or financial sanctions or trade embargoes or restricted measures imposed, administered or enforced from time to time by (a) the U.S. government, including those administered by the Office of Foreign Assets Control of the U.S. Department of the Treasury or the U.S. Department of State, or (b) the United Nations Security Council, the European Union or Her Majesty’s Treasury of the United Kingdom.”
|
(d)
|
Section 5.07 of the Credit Agreement is amended by adding the following sentence at the end of such Section:
|
(e)
|
Section 5.08 of the Credit Agreement is amended by adding the following sentence at the end of such Section:
|
(f)
|
Section 5.11 of the Credit Agreement is amended by deleting such Section in its entirety and substituting in lieu thereof the following:
|
(g)
|
Section 6.01 of the Credit Agreement is amended by deleting in its entirety clause (c) thereof and substituting in lieu thereof the following:
|
(h)
|
Section 6.02 of the Credit Agreement is amended by deleting the phrase “clause (f) of Section 6.01,” and substituting in lieu thereof the following:
|
(i)
|
Section 6.02 of the Credit Agreement is amended by deleting clause (e) thereof and substituting in lieu thereof the following:
|
(j)
|
Section 6.04 of the Credit Agreement is amended by deleting clause (e) thereof and substituting in lieu thereof the following:
|
(k)
|
Section 6.08 of the Credit Agreement is amended by deleting such Section in its entirety and substituting in lieu thereof the following:
|
(l)
|
Section 6.11 of the Credit Agreement
is amended by deleting such Section in its entirety and substituting in lieu thereof the following:
|
(m)
|
Section 10.01 of the Credit Agreement is amended by deleting the phrase “Executive Vice President, Chief Financial Officer and Treasurer (Telecopy No. (210) 918-5055)” in clause (a)(i) and substituting in lieu thereof the following:
|
(n)
|
Section 10.01 of the Credit Agreement is amended by deleting the phrase “(Fax No. 212-__________;” in clause (a)(ii) and substituting in lieu thereof the following:
|
(o)
|
Section 10.02 of the Credit Agreement is amended by deleting the penultimate sentence Section 10.02(b) and substituting in lieu thereof the following:
|
(p)
|
Schedules 3.12, 6.01 and 6.08 of the Credit Agreement are deleted in their entirety and the Schedules set forth in Exhibit A to this Agreement are substituted in lieu thereof.
|
2.
|
Amendment to the Subsidiary Guaranty
. Subject to the terms and conditions set forth herein, the Subsidiary Guaranty is hereby amended by deleting Section 6.15 in its entirety and substituting in lieu thereof the following:
|
3.
|
Effectiveness; Conditions Precedent
. The effectiveness of this Agreement and the amendments to the Credit Agreement herein provided are subject to the satisfaction of the following conditions precedent:
|
(a)
|
the Administrative Agent shall have received each of the following documents or instruments in form and substance reasonably acceptable to the Administrative Agent:
|
(i)
|
counterparts of this Agreement, duly executed by the Borrower, the MLP, each Guarantor, the Issuing Bank, the Administrative Agent and all the Lenders;
|
(ii)
|
such other documents, instruments, certifications, undertakings, further assurances and other matters as the Administrative Agent shall reasonably request; and
|
(b)
|
all fees and expenses payable to the Administrative Agent and the Lenders (including the fees and expenses of counsel to the Administrative Agent) estimated to date shall have been paid in full (without prejudice to final settling of accounts for such fees and expenses).
|
4.
|
Consent of the Guarantors
. Each Guarantor hereby consents, acknowledges and agrees to the amendments set forth herein, including without limitation the amendment to the Subsidiary Guaranty, and hereby confirms and ratifies in all respects the Subsidiary Guaranty to which such Guarantor is a party (including without limitation the continuation of such Guarantor’s payment and performance obligations thereunder upon and after the effectiveness of this Agreement and the amendments contemplated hereby) and the enforceability of such Subsidiary Guaranty against such Guarantor in accordance with its terms.
|
5.
|
Representations and Warranties
. In order to induce the Issuing Bank, the Administrative Agent and the Lenders to enter into this Agreement, the Loan Parties represent and warrant to the Issuing Bank, the Administrative Agent and the Lenders as follows:
|
(a)
|
The representations and warranties made by each Loan Party in Article III of the Credit Agreement and in each of the other Loan Documents to which such Loan Party is a party are true and correct on and as of the date hereof, except to the extent that such representations and warranties expressly relate to an earlier date;
|
(b)
|
Since the date of the most recent financial reports of the Borrower and the MLP delivered pursuant to Section 5.01 of the Credit Agreement, no act, event, condition or circumstance has occurred or arisen which, singly or in the aggregate with one or more other acts, events, occurrences or conditions (whenever occurring or arising), has had or could reasonably be expected to have a Material Adverse Effect;
|
(c)
|
The Persons appearing as Guarantors on the signature pages to this Agreement constitute all Persons who are required to be Guarantors pursuant to the terms of the Credit Agreement and the other Loan Documents, including without limitation all Persons who became Subsidiaries or were otherwise required to become Guarantors after the Closing Date, and each of such Persons has become and remains a party to a Subsidiary Guaranty as a Guarantor;
|
(d)
|
This Agreement has been duly authorized, executed and delivered by the Loan Parties and constitute a legal, valid and binding obligation of such parties, except as may be limited by general principles of equity or by the effect of any applicable bankruptcy, insolvency, reorganization, moratorium or similar law affecting creditors’ rights generally; and
|
(e)
|
No Default or Event of Default has occurred and is continuing.
|
6.
|
Entire Agreement
. This Agreement, together with all the Loan Documents (collectively, the “
Relevant Documents
”), sets forth the entire understanding and agreement of the parties hereto in relation to the subject matter hereof and supersedes any prior negotiations and agreements among the parties relating to such subject matter. No promise, condition, representation or warranty, express or implied, not set forth in the Relevant Documents shall bind any party hereto, and no such party has relied on any such promise, condition, representation or warranty. Each of the parties hereto acknowledges that, except as otherwise expressly stated in the Relevant Documents, no representations, warranties or commitments, express or implied, have been made by any party to the other in relation to the subject matter hereof or thereof. None of the terms or conditions of this Agreement may be changed, modified, waived or canceled orally or otherwise, except in writing and in accordance with Section 10.02 of the Credit Agreement.
|
7.
|
Full Force and Effect of Agreement
. Except as hereby specifically amended, modified or supplemented, the Credit Agreement and all other Loan Documents are hereby confirmed and ratified in all respects and shall be and remain in full force and effect according to their respective terms.
|
8.
|
Counterparts
. This Agreement may be executed in any number of counterparts, each of which shall be deemed an original as against any party whose signature appears thereon, and all of which shall together constitute one and the same instrument. Delivery of an executed counterpart of a signature page of this Agreement by telecopy or e-mail transmission shall be effective as delivery of a manually executed counterpart of this Agreement.
|
9.
|
Governing Law
. This Agreement shall be governed by, and construed in accordance with, the laws of the State of New York and shall be further subject to the provisions of Section 10.09 of the Credit Agreement.
|
10.
|
Enforceability
. Should any one or more of the provisions of this Agreement be determined to be illegal or unenforceable as to one or more of the parties hereto, all other provisions nevertheless shall remain effective and binding on the parties hereto.
|
11.
|
References
. All references in any of the Loan Documents to the “Credit Agreement” shall mean the Credit Agreement, as amended hereby.
|
12.
|
Successors and Assigns
. This Agreement shall be binding upon and inure to the benefit of the Borrower, the MLP, each Guarantor, the Issuing Bank, the Administrative Agent and Lenders, and their respective successors, legal representatives, and assignees to the extent such assignees are permitted assignees as provided in Section 10.04 of the Credit Agreement.
|
Subsidiary
|
Jurisdiction of
Formation |
Restricted/Unrestricted/Material
|
Ownership
Percentage |
Bicen Development Corporation N.V.
|
Sint Eustatius
|
Restricted
|
100%
|
Cooperatie NuStar Holdings U.A.
|
Netherlands
|
Restricted
|
100%
|
Diamond K Limited
|
Bermuda
|
Restricted
|
100%
|
LegacyStar, Inc.
|
Delaware
|
Restricted
|
100%
|
LegacyStarInvestment, LLC
|
Delaware
|
Restricted
|
100%
|
LegacyStar, LLC
|
Delaware
|
Restricted
|
100%
|
Kaneb Management, LLC
|
Delaware
|
Restricted
|
100%
|
Kaneb Management Company LLC
|
Delaware
|
Restricted
|
100%
|
NuStar Pipeline Company, LLC
|
Delaware
|
Restricted
|
100%
|
NuStar Pipeline Holding Company, LLC
|
Delaware
|
Restricted
|
100%
|
NuStar Pipeline Operating Partnership L.P.
|
Delaware
|
Restricted - Material
|
100%
|
NuStar Pipeline Partners L.P.
|
Delaware
|
Restricted
|
100%
|
LegacyStarServices, LLC
|
Delaware
|
Restricted
|
100%
|
NS Security Services, LLC
|
Delaware
|
Restricted
|
100%
|
NuStar Asphalt Chickasaw, LLC
|
Texas
|
Restricted
|
100%
|
NuStar Asphalt Holdings, Inc.
|
Delaware
|
Restricted
|
100%
|
NuStar Asphalt Holdings, LLC
|
Delaware
|
Restricted
|
100%
|
NuStar Refining, LLC
|
Delaware
|
Restricted
|
100%
|
Subsidiary
|
Jurisdiction of
Formation |
Restricted/Unrestricted/Material
|
Ownership
Percentage |
NuStar Terminals B.V.
|
Netherlands
|
Restricted
|
100%
|
NuStar Eastham Limited
|
England
|
Restricted
|
100%
|
NuStar Terminals Limited
|
England
|
Restricted
|
100%
|
NuStar Energy Services, Inc.
|
Delaware
|
Restricted
|
100%
|
NuStar Burgos, LLC
|
Delaware
|
Restricted
|
100%
|
NuStar GP, Inc.
|
Delaware
|
Restricted
|
100%
|
NuStar Holdings B.V.
|
Netherlands
|
Restricted
|
100%
|
NuStar Internacioncal, S. deR.L. de C.V.
|
Mexico
|
Restricted
|
100%
|
NuStar Logistics, L.P.
|
Delaware
|
Restricted - Material
|
100%
|
NuStar Supply & Trading LLC
|
Delaware
|
Restricted
|
100%
|
Petroburgos, S. de R.L. de C.V.
|
Mexico
|
Restricted
|
100%
|
Point Tupper Marine Services Co.
|
Nova Scotia
|
Restricted
|
100%
|
NuStar Grangemouth Limited
|
England
|
Restricted
|
100%
|
Saba Company N.V.
|
Sint Eustatius
|
Restricted
|
100%
|
Seven Seas Steamship Company (Sint Eustatius) N.V.
|
Sint Eustatius
|
Restricted
|
100%
|
Shore Terminals LLC
|
Delaware
|
Restricted
|
100%
|
NuStar Texas Holding, Inc.
|
Delaware
|
Restricted
|
100%
|
NuStar Terminals Texas, Inc.
|
Delaware
|
Restricted
|
100%
|
NuStar Terminals Partners TX L.P.
|
Delaware
|
Restricted
|
100%
|
NuStar Technology, Inc.
|
Delaware
|
Restricted
|
100%
|
NuStar Terminals Antilles N.V.
|
Curacao
|
Restricted
|
100%
|
NuStar Terminals Canada Co.
|
Nova Scotia
|
Restricted
|
100%
|
NuStar Terminals Canada Holdings Co
|
Nova Scotia
|
Restricted
|
100%
|
Subsidiary
|
Jurisdiction of
Formation |
Restricted/Unrestricted/Material
|
Ownership
Percentage |
NuStar Terminals Canada Partnership
|
Nova Scotia
|
Restricted
|
100%
|
NuStar Terminals Corporation N.V.
|
Curacao / Netherlands
|
Restricted
|
100%
|
NuStar Terminals Delaware, Inc.
|
Delaware
|
Restricted
|
100%
|
NuStar Caribe Terminals, Inc.
|
Delaware
|
Restricted
|
100%
|
NuStar Terminals International N.V.
|
Curacao
|
Restricted
|
100%
|
NuStar Terminals Marine Services N.V.
|
Sint Eustatius
|
Restricted
|
100%
|
NuStar Terminals New Jersey, Inc.
|
Delaware
|
Restricted
|
100%
|
NuStar Terminals N.V.
|
Sint Eustatius
|
Restricted - Material
|
100%
|
NuStar Terminals Operations Partnership L.P.
|
Delaware
|
Restricted
|
100%
|
NuStar Terminals Services, Inc.
|
Delaware
|
Restricted
|
100%
|
Texas Energy Services LLC
|
Delaware
|
Restricted
|
100%
|