Delaware
|
001-16417
|
74-2956831
|
(State or other jurisdiction of incorporation)
|
(Commission File Number)
|
(I.R.S. Employer Identification No.)
|
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on
which registered
|
||
Common units
|
NS
|
New York Stock Exchange
|
||
Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units
|
NSprA
|
New York Stock Exchange
|
||
Series B Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units
|
NSprB
|
New York Stock Exchange
|
||
Series C Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units
|
NSprC
|
New York Stock Exchange
|
Item 1.01 |
Entry Into Material Definitive Agreement.
|
|
• |
the direct or indirect lease, sale, transfer, conveyance or other disposition (other than by way of merger or consolidation), in one or a series of related transactions, of (i) all or
substantially all of the Company’s assets and the assets of its subsidiaries taken as a whole or (ii) all of the assets of NuStar Energy and its subsidiaries taken as a whole, to any “person” (as that term is used in Section 13(d)(3) of
the Securities Exchange Act of 1934 (the “Exchange Act”)), other than to one or more of NuStar GP Holdings, LLC, NuStar Energy and each person which is a direct or indirect subsidiary of NuStar GP Holdings, LLC or NuStar Energy
(collectively, the “NuStar Group”), which disposition is followed by a decrease in the rating of the Bonds by both S&P Global Ratings and Moody’s Investors Service, Inc. by one or more gradations (a “Ratings Decline”) within 60 days
thereafter;
|
|
• |
the adoption of a plan relating to the Company’s or NuStar Energy’s liquidation or dissolution, or the removal of (i) the Company’s general partner by the Company’s limited partners, (ii) the
general partner of NuStar Energy by NuStar Energy’s limited partners, or (iii) the general partner of NuStar Energy’s general partner by the limited partners of NuStar Energy’s general partner; or
|
|
• |
the consummation of any transaction (including, without limitation, any merger or consolidation) which results in any “person” (as that term is used in Section 13(d)(3) of the Exchange Act),
other than one or members of the NuStar Group, becoming the beneficial owner, directly or indirectly, of more than 50% of the voting stock of the Company, the Company’s general partner, NuStar Energy, NuStar Energy’s general partner or
the general partner of NuStar Energy’s general partner, in each case measured by voting power rather than number of shares, units or the like, which occurrence is followed by a Ratings Decline within 60 days thereafter.
|
Item 1.02 |
Termination of a Material Definitive Agreement.
|
Item 2.03 |
Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.
|
Item 9.01 |
Financial Statements and Exhibits.
|
(d) |
Exhibits
|
Exhibit Number
|
Description
|
|
Lease Agreement, dated June 1, 2008, between the Parish of St. James, State of Louisiana and NuStar Logistics, L.P.
|
||
First Supplement and Amendment to Lease Agreement (Series 2008), dated June 1, 2020, among the Parish of St. James, State of Louisiana, NuStar Logistics, L.P., NuStar Energy
L.P. and NuStar Pipeline Operating Partnership L.P.
|
||
Lease Agreement, dated July 1, 2010, between the Parish of St. James, State of Louisiana and NuStar Logistics, L.P. (Incorporated herein by reference to NuStar Energy L.P.’s
Current Report on Form 8-K filed July 21, 2010 (File No. 001-16417), Exhibit 10.01)
|
||
First Supplement and Amendment to Lease Agreement (Series 2010), dated June 1, 2020, among the Parish of St. James, State of Louisiana, NuStar Logistics, L.P., NuStar Energy
L.P. and NuStar Pipeline Operating Partnership L.P.
|
||
Lease Agreement, dated October 1, 2010, between the Parish of St. James, State of Louisiana and NuStar Logistics, L.P.
|
||
First Supplement and Amendment to Lease Agreement (Series 2010A), dated June 1, 2020, among the Parish of St. James, State of Louisiana, NuStar Logistics, L.P., NuStar Energy
L.P. and NuStar Pipeline Operating Partnership L.P.
|
||
Lease Agreement, dated December 1, 2010, between the Parish of St. James, State of Louisiana and NuStar Logistics, L.P. (Incorporated herein by reference to NuStar Energy
L.P.’s Current Report on Form 8-K filed December 30, 2010 (File No. 001-16417), Exhibit 10.01)
|
||
First Supplement and Amendment to Lease Agreement (Series 2010B), dated June 1, 2020, among the Parish of St. James, State of Louisiana, NuStar Logistics, L.P., NuStar Energy
L.P. and NuStar Pipeline Operating Partnership L.P.
|
||
Lease Agreement, dated August 1, 2011, between the Parish of St. James, State of Louisiana and NuStar Logistics, L.P. (Incorporated herein by reference to NuStar Energy
L.P.’s Current Report on Form 8-K filed August 10, 2011 (File No. 001-16417), Exhibit 10.01)
|
||
First Supplement and Amendment to Lease Agreement (Series 2011), dated June 1, 2020, among the Parish of St. James, State of Louisiana, NuStar Logistics, L.P., NuStar Energy
L.P. and NuStar Pipeline Operating Partnership L.P.
|
||
104
|
Cover Page Interactive Data File – Formatted in Inline XBRL and included as Exhibit 101
|
NUSTAR ENERGY L.P.
|
||||
By:
|
Riverwalk Logistics, L.P.
|
|||
its general partner
|
||||
By:
|
NuStar GP, LLC
|
|||
its general partner
|
||||
Date: June 4, 2020
|
By:
|
/s/ Amy L. Perry
|
||
Name:
|
Amy L. Perry
|
|||
Title:
|
Executive Vice President—Strategic Development and General Counsel
|
If to the Issuer:
|
Parish of St. James, State of Louisiana
|
P.O. Box 176
|
|
Vacherie, Louisiana 70090
|
|
Attention: Parish President
|
If to the Trustee:
|
U.S. Bank National Association
|
1349 West Peachtree, NW
|
|
Two Midtown Plaza, Suite 1050
|
|
Atlanta, Georgia 30309
|
|
Attention: Corporate Trust Department
|
|
If to the Company:
|
NuStar Logistics, L.P.
|
2330 North Loop 1604
|
|
West San Antonio, Texas 78248
|
|
Attention: Chief Financial Officer
|
|
If to the Credit Provider:
|
SunTrust Bank
|
303 Peachtree Street 10th Floor
|
|
Atlanta, Georgia 30308
|
|
Attention: David Edge
|
|
If to the Remarketing Agent:
|
SunTrust Robinson Humphrey, Inc.
|
303 Peachtree Street, 24th Floor
|
|
Atlanta, Georgia 30303
|
|
Attention: Municipal Desk
|
|
If to Fitch:
|
Fitch, Inc.
|
One State Street Plaza
|
|
New York, New York 10004
|
|
Attention: Structured Finance
|
|
If to Moody’s:
|
Moody’s Investors Service, Inc.
|
99 Church Street
|
|
New York, New York 10007
|
|
Attention: Corporate Department,
|
|
Structured Finance Group
|
|
If to S&P:
|
Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc.
|
55 Water Street
|
|
New York, New York 10041
|
|
Attention: Corporate Finance Department
|
(SEAL)
|
PARISH OF ST. JAMES, STATE OF LOUISIANA
|
|
By: |
/s/ Dale Hymel
|
|
Parish President
|
Attest:
|
||
By: |
/s/ Angela R. Rodrigue
|
|
Secretary, Parish Council
|
NUSTAR LOGISTICS, L.P.
|
||||
By: |
NUSTAR GP, INC., its general partner
|
|||
By:
|
/s/ Steven A. Blank
|
|||
Title:
|
Senior Vice President,
|
|||
Chief Financial Officer and Treasurer
|
ARTICLE I
|
||
DEFINITIONS AND RULES OF CONSTRUCTION
|
||
SECTION 1.01.
|
Definitions.
|
2
|
ARTICLE II
|
||
AMENDMENT TO ARTICLE VI OF THE ORIGINAL AGREEMENT
|
||
SECTION 2.01.
|
Amendment to Section 6.08.
|
2
|
SECTION 2.02.
|
Additional Covenants.
|
2
|
ARTICLE III
|
||
AMENDMENT TO ARTICLE IX OF THE ORIGINAL AGREEMENT
|
||
SECTION 3.01.
|
Notices.
|
2
|
ARTICLE IV
|
||
MISCELLANEOUS
|
||
SECTION 4.01.
|
Ratification and Confirmation.
|
3
|
SECTION 4.02.
|
Representations and Warranties of the Issuer.
|
3
|
SECTION 4.03.
|
Execution and Counterparts.
|
3
|
SECTION 4.04.
|
Applicable Law.
|
3
|
SECTION 4.05.
|
Interdependence with the Original Agreement.
|
3
|
SECTION 4.06.
|
Severability.
|
3
|
SECTION 4.07.
|
Dating.
|
3
|
SECTION 4.08.
|
Indenture.
|
3
|
SECTION 4.09.
|
Consent of Company.
|
3 |
If to the Company:
|
NuStar Logistics, L.P.
|
|
19003 IH-10 West
|
||
San Antonio, Texas 78257
|
||
Attention: Christopher C. Russell
|
||
Telecopier: (210) 918-5758
|
If to the Guarantors:
|
NuStar Energy L.P.
|
|
19003 IH-10 West
|
||
San Antonio, Texas 78257
|
||
Attention: Christopher C. Russell
|
||
Telecopier: (210) 918-5758
|
||
NuStar Pipeline Operating Partnership L.P.
|
||
19003 IH-10 West
|
||
San Antonio, Texas 78257
|
||
Attention: Christopher C. Russell
|
||
Telecopier: (210) 918-5758
|
PARISH OF ST. JAMES, STATE OF LOUISIANA
|
||
By:
|
/s/ Peter A. Dufresne
|
|
Parish President
|
By:
|
/s/ Linda Hubbell
|
|
Secretary, Parish Council
|
||
|
(SEAL)
|
NUSTAR LOGISTICS, L.P.
|
||
By: NuStar GP, Inc., its general partner
|
||
By:
|
/s/ Thomas R. Shoaf
|
|
Name:
|
Thomas R. Shoaf
|
|
Title:
|
Executive Vice President and Chief Financial Officer
|
By:
|
/s/ Thomas R. Shoaf
|
|
Name:
|
Thomas R. Shoaf
|
|
Title:
|
Executive Vice President and Chief Financial Officer
|
By:
|
/s/ Thomas R. Shoaf
|
|
Name:
|
Thomas R. Shoaf
|
|
Title:
|
Executive Vice President and Chief Financial Officer
|
Page
|
|||
ARTICLE I DEFINITIONS
|
4
|
||
Section 1.01.
|
Definitions
|
4
|
|
Section 1.02.
|
Uses of Phrases
|
10
|
|
ARTICLE II THE BONDS
|
11 | ||
Section 2.01.
|
Authorized Amount of Bonds
|
11
|
|
Section 2.02.
|
Issuance and Terms of Bonds
|
11 | |
Section 2.03.
|
Daily Period
|
11 | |
Section 2.04.
|
Weekly Period
|
12 | |
Section 2.05.
|
Commercial Paper Period
|
12 | |
Section 2.06.
|
Long Term Period
|
13 | |
Section 2.07.
|
Conversion Option
|
14 | |
Section 2.08.
|
Execution; Limited Obligations
|
15 | |
Section 2.09.
|
Authentication
|
15 | |
Section 2.10.
|
Form of Bonds
|
16 | |
Section 2.11.
|
Authentication and Delivery of Bonds
|
16 | |
Section 2.12.
|
Mutilated, Lost, Stolen or Destroyed Bonds
|
16 | |
Section 2.13.
|
Transfer of Bonds; Persons Treated as Owners
|
17 | |
Section 2.14.
|
Destruction of Bonds
|
17 | |
Section 2.15.
|
Temporary Bonds
|
18 | |
Section 2.16.
|
Book-Entry System
|
18 | |
ARTICLE III REDEMPTION OF BONDS BEFORE MATURITY
|
21 | ||
Section 3.01.
|
Extraordinary Redemption
|
21 | |
Section 3.02.
|
Optional Redemption by the Company
|
21 | |
Section 3.03.
|
Notice of Redemption
|
22 | |
Section 3.04.
|
Redemption Payments
|
23 | |
Section 3.05.
|
Cancellation
|
23
|
|
Section 3.06.
|
Partial Redemption of Bonds
|
23 | |
ARTICLE IV MANDATORY PURCHASE DATE; DEMAND PURCHASE OPTION
|
24 | ||
Section 4.01.
|
Mandatory Purchase of Bonds on Mandatory Purchase Date
|
24 | |
Section 4.02.
|
Demand Purchase Option
|
24 | |
Section 4.03.
|
Funds for Purchase of Bonds
|
25 | |
Section 4.04.
|
Delivery of Purchased Bonds
|
25 | |
Section 4.05.
|
Delivery of Proceeds of Sale of Purchased Bonds
|
26 | |
Section 4.06.
|
Duties of Trustee with Respect to Purchase of Bonds
|
26 | |
Section 4.07.
|
Remarketing of Bonds
|
27 | |
ARTICLE V GENERAL COVENANTS
|
28 | ||
Section 5.01.
|
Payment of Principal, Premium, if any, and Interest
|
28 |
Section 5.02.
|
Performance of Covenants
|
28 | |
Section 5.03.
|
Instruments of Further Assurance
|
28 | |
Section 5.04.
|
Recording and Filing
|
29 | |
Section 5.05.
|
Inspection of Books
|
29
|
|
Section 5.06.
|
List of Owners of Bonds
|
29
|
|
Section 5.07.
|
Rights Under Agreement
|
29 | |
Section 5.08.
|
[Reserved]
|
29 | |
Section 5.09.
|
Undertaking to Provide Ongoing Disclosure
|
30
|
|
Section 5.10.
|
Notice of Control
|
30
|
|
ARTICLE VI REVENUES AND FUNDS
|
31
|
||
Section 6.01.
|
Creation of the Bond Fund
|
31
|
|
Section 6.02.
|
Payments into the Bond Fund
|
31
|
|
Section 6.03.
|
Use of Moneys in the Bond Fund
|
31
|
|
Section 6.04.
|
Payment of Bonds with Proceeds of Refunding Bonds
|
32 | |
Section 6.05.
|
Project Fund
|
32 | |
Section 6.06.
|
Payments into the Project Fund; Disbursements
|
32 | |
Section 6.07.
|
Use of Money in the Project Fund Upon Default
|
32 | |
Section 6.08.
|
Completion of the Project
|
32 | |
Section 6.09.
|
Nonpresentment of Bonds
|
33 | |
Section 6.10.
|
Moneys to be Held in Trust
|
33 | |
Section 6.11.
|
Repayment to the Credit Provider and the Company from the Bond Fund or the Project Fund
|
33 | |
Section 6.12.
|
Credit Facility
|
34 | |
Section 6.13.
|
Creation of Rebate Fund; Duties of Trustee; Amounts Held in Rebate Fund
|
34 | |
ARTICLE VII INVESTMENT OF MONEYS
|
36 | ||
Section 7.01.
|
Investment of Moneys
|
36 | |
ARTICLE VIII DISCHARGE OF INDENTURE
|
39 | ||
Section 8.01.
|
Discharge of Indenture
|
39 | |
Section 8.02.
|
Defeasance of Bonds
|
39 | |
ARTICLE IX DEFAULTS AND REMEDIES
|
41
|
||
Section 9.01.
|
Defaults
|
41
|
|
Section 9.02.
|
Acceleration
|
41
|
|
Section 9.03.
|
Other Remedies; Rights of Owners of Bonds
|
42 | |
Section 9.04.
|
Right of Owners of Bonds to Direct Proceedings
|
42 | |
Section 9.05.
|
Appointment of Receivers
|
42 | |
Section 9.06.
|
Waiver
|
43 | |
Section 9.07.
|
Application of Moneys
|
43 | |
Section 9.08.
|
Remedies Vested in Trustee
|
44 | |
Section 9.09.
|
Rights and Remedies of Owners of Bonds
|
45 | |
Section 9.10.
|
Termination of Proceedings
|
45 | |
Section 9.11.
|
Waivers of Default
|
46 | |
Section 9.12.
|
Notice of Defaults under Section 9.01(e) or (f); Opportunity to Cure Such Defaults
|
46 |
Section 9.13.
|
Subrogation Rights of Credit Provider
|
46 | |
ARTICLE X TRUSTEE
|
47 | ||
Section 10.01.
|
Acceptance of Trusts
|
47 | |
Section 10.02.
|
Fees, Charges and Expenses of the Trustee
|
50
|
|
Section 10.03.
|
Notice to Owners of Bonds if Default Occurs
|
50
|
|
Section 10.04.
|
Intervention by the Trustee
|
50
|
|
Section 10.05.
|
Successor Trustee
|
51
|
|
Section 10.06.
|
Resignation by the Trustee
|
51
|
|
Section 10.07.
|
Removal of the Trustee
|
51
|
|
Section 10.08.
|
Appointment of Successor Trustee by Owners of Bonds
|
51
|
|
Section 10.09.
|
Acceptance by Successor Trustee
|
52 | |
Section 10.10.
|
Appointment of Co-Trustee
|
52 | |
Section 10.11.
|
Successor Remarketing Agent
|
53 | |
Section 10.12.
|
Notice to Rating Agencies
|
54 | |
ARTICLE XI SUPPLEMENTAL INDENTURES
|
55 | ||
Section 11.01.
|
Supplemental Indentures Not Requiring Consent of Owners of Bonds
|
55 | |
Section 11.02.
|
Supplemental Indentures Requiring Consent of Owners of Bonds
|
56 | |
Section 11.03.
|
Consent of the Company
|
57 | |
Section 11.04.
|
Execution of Amendments and Supplements by Trustee
|
57 | |
ARTICLE XII AMENDMENT OF AGREEMENT
|
58 | ||
Section 12.01.
|
Amendments to Agreement Not Requiring Consent of Owners of Bonds
|
58 | |
Section 12.02.
|
Amendments to Agreement Requiring Consent of Owners of Bonds
|
58 | |
ARTICLE XIII MISCELLANEOUS
|
59 | ||
Section 13.01.
|
Consents of Owners of Bonds
|
59 | |
Section 13.02.
|
Limitation of Rights
|
59 | |
Section 13.03.
|
Severability
|
59 | |
Section 13.04.
|
Notices
|
59 | |
Section 13.05.
|
Payments Due on Saturdays, Sundays and Holidays
|
61
|
|
Section 13.06.
|
Counterparts
|
61 | |
Section 13.07.
|
Applicable Provisions of Law
|
61 | |
Section 13.08.
|
Rules of Interpretation
|
61 | |
Section 13.09.
|
Captions
|
61 | |
Section 13.10.
|
No Personal Liability
|
61 | |
Section 13.11.
|
Certain References Ineffective Except During a Credit Facility Period
|
62
|
EXHIBIT A
|
Form of Bond
|
EXHIBIT B
|
Form of Notice from Trustee to Owner Regarding Mandatory Purchase
|
EXHIBIT C
|
Cost of Issuance
|
EXHIBIT D
|
Form of Completion Certificate
|
Redemption Dates
|
Redemption Prices
|
|
First Optional Redemption Date through (and including) the day immediately preceding the first anniversary of the First Optional Redemption Date
|
102%
|
|
First anniversary of the First Optional Redemption Date through (and including) the day immediately preceding the second anniversary of the First Optional
Redemption Date
|
101%
|
|
Second anniversary of the First Optional Redemption Date and thereafter
|
100%
|
If to the Issuer:
|
Parish of St. James, State of Louisiana
|
P.O. Box 176
|
|
Vacherie, Louisiana 70090
|
|
Attention: Parish President
|
If to the Trustee:
|
U.S. Bank National Association
|
1349 West Peachtree, NW
|
|
Two Midtown Plaza, Suite 1050
|
|
Atlanta, Georgia 30309
|
|
Attention: Corporate Trust Division
|
|
If to the Company:
|
NuStar Logistics, L.P.
|
2330 North Loop 1604 West
|
|
San Antonio, TX 78248
|
|
Attention: Chief Financial Officer
|
|
If to the Credit Provider:
|
SunTrust Bank
|
303 Peachtree Street
|
|
10th Floor
|
|
Atlanta, Georgia 30308
|
|
Attention: David Edge
|
|
If to the Remarketing Agent:
|
SunTrust Robinson Humphrey, Inc.
|
303 Peachtree Street, 24th Floor
|
|
Atlanta, Georgia 30303
|
|
Attention: Municipal Desk
|
|
If to Fitch:
|
Fitch, Inc.
|
One State Street Plaza
|
|
New York, New York 10004
|
|
Attention: Structured Finance
|
|
If to Moody’s:
|
Moody’s Investors Service, Inc.
|
99 Church Street
|
|
New York, New York 10007
|
|
Attention: Corporate Department, Structured Finance Group
|
|
If to S&P:
|
Standard & Poor’s Ratings Services, a division of The McGraw-Hill Companies, Inc.
|
55 Water Street
|
|
New York, New York 10041
|
|
Attention: Corporate Finance Department
|
PARISH OF ST. JAMES, STATE OF LOUISIANA
|
||
By:
|
||
Parish President
|
By:
|
||
Secretary, Parish Council
|
U.S. BANK NATIONAL ASSOCIATION
|
||
By:
|
||
Authorized Officer
|
No. ____
|
$________
|
Maturity Date:
|
CUSIP No. __________
|
TYPE OF
INTEREST PERIOD
|
ACCRUAL
PERIOD1
|
INTEREST
PAYMENT DATE
|
RECORD DATE
|
|||
Daily
|
Calendar Month
|
Fifth Business Day of the next month
|
Last Business Day of the Accrual Period
|
|||
Weekly
|
First Wednesday of each month through the first Tuesday of the next succeeding month
|
First Wednesday of each month
|
Last Business Day before Interest Payment Date
|
|||
Commercial Paper
|
From 1 to 270 days as determined for each Bond pursuant to the Indenture (“Calculation Period”)
|
First Day following Calculation Period
|
Last Business Day before Interest Payment Date
|
|||
Long Term
|
Six-month period or portion thereof beginning on the Conversion Date and ending on the last day of the sixth calendar month following (and including) the month
in which the Conversion Date occurs and each six-month period thereafter
|
First day of the seventh calendar month following (and including) the month in which the Conversion Date occurs and the first day of every sixth month
thereafter
|
Fifteenth of the month before the Interest Payment Date
|
Redemption Dates
|
Redemption Prices
|
|
First Optional Redemption Date through (and including) the day immediately preceding the first anniversary of the First Optional Redemption Date
|
102%
|
|
First anniversary of the First Optional Redemption Date through (and including) the day immediately preceding the second anniversary of the First Optional
Redemption Date
|
101%
|
|
Second anniversary of the First Optional Redemption Date and thereafter
|
100%
|
Parish of St. James, State of Louisiana
|
||
By:
|
||
Parish President
|
By:
|
||
Secretary, Parish Council
|
[SEAL]
|
U.S. BANK NATIONAL ASSOCIATION, as Trustee
|
||
By:
|
||
Authorized Signatory
|
Secretary, Parish Council
|
(Authorized Officer)
Signature must be guaranteed by an institution which is a participant in the Securities Transfer Agent Medallion Program (STAMP) or similar program.
|
NOTICE: The signature to this assignment must correspond with the name as it appears upon the face of the within Bond in every particular, without alteration
or enlargement or any change whatever.
|
|
Re: |
$56,200,000 Parish of St. James, State of Louisiana Revenue Bonds (NuStar Logistics, L.P. Project) Series 2008
|
U.S. Bank National Association, as Trustee
|
|
Title:
|
Louisiana State Bond Commission
Baton Rouge, Louisiana
|
$
|
59,200.00
|
||
Parish of St. James, State of Louisiana
Convent, Louisiana 70723
|
$
|
0.00
|
||
Bruce G. Mohon, Counsel to the Issuer
Gramercy, Louisiana
|
$
|
10,000.00
|
||
Adams and Reese LLP, Company Counsel
New Orleans, Louisiana
|
$
|
48,995.00
|
||
Foley & Judell, L.L.P., Bond Counsel
New Orleans, Louisiana
|
$
|
55,272.00
|
||
Hunton & Williams — Letter of Credit Bank & Underwriter’s
Counsel
McLean, Virginia
|
$
|
6,033.00
|
||
Gregory A. Pletsch & Associates, Trustee Counsel
McLean, Virginia
|
$
|
2,500.00
|
||
SunTrust Bank, Letter of Credit Bank
Atlanta, Georgia
|
$
|
0.00
|
||
U.S. Bank National Association, Trustee
|
$
|
5,000.00
|
||
SunTrust Robinson Humphrey Inc., Underwriter
Atlanta, Georgia
|
$
|
377,200.00
|
||
Moody’s Investors Service, Inc.
|
$
|
10,000.00
|
||
TOTAL
|
$
|
574,200.00
|
|
Re: |
$56,200,000 Parish of St. James, State of Louisiana Revenue Bonds (NuStar Logistics, L.P. Project) Series 2008
|
|
NUSTAR LOGISTICS, L.P.
|
|
|
|
|
|
By:
|
|
|
|
Company Representative
|
ARTICLE I
|
||
DEFINITIONS AND RULES OF CONSTRUCTION
|
||
SECTION 1.01.
|
Definitions.
|
2
|
ARTICLE II
|
||
AMENDMENT TO GRANTING CLAUSES OF TRUST ESTATE
|
||
SECTION 2.01.
|
Granting Clauses.
|
3
|
ARTICLE III
|
||
AMENDMENT TO ARTICLE II OF THE ORIGINAL INDENTURE
|
||
SECTION 3.01.
|
Issuance and Terms of Bonds.
|
4
|
ARTICLE IV
|
||
AMENDMENT TO ARTICLE III OF THE ORIGINAL INDENTURE
|
||
SECTION 4.01.
|
Extraordinary Redemption.
|
5
|
SECTION 4.02.
|
Optional Redemption by the Company.
|
5
|
SECTION 4.03.
|
Partial Redemption of Bonds.
|
5
|
SECTION 4.04.
|
Additional Section in Article III.
|
5
|
ARTICLE V
|
||
AMENDMENT TO ARTICLE IV OF THE ORIGINAL INDENTURE
|
||
SECTION 5.01.
|
Mandatory Purchase of Bonds on Mandatory Purchase Date.
|
6
|
SECTION 5.02.
|
Funds for Purchase of Bonds.
|
7
|
ARTICLE VI
|
||
AMENDMENT TO ARTICLE V OF THE ORIGINAL INDENTURE
|
||
SECTION 6.01.
|
Additional Sections in Article V.
|
7
|
ARTICLE VII
|
||
AMENDMENT TO ARTICLE VI OF THE ORIGINAL INDENTURE
|
||
SECTION 7.01.
|
Additional Section in Article VI.
|
8
|
ARTICLE VIII
|
||
AMENDMENT TO ARTICLE XIII OF THE ORIGINAL INDENTURE
|
||
SECTION 8.01.
|
Notices.
|
8
|
ARTICLE IX
|
||
AMENDMENT TO ARTICLE X OF THE ORIGINAL INDENTURE
|
||
SECTION 9.01.
|
Successor Remarketing Agent.
|
8
|
ARTICLE X
|
||
REPLACEMENT BOND
|
||
SECTION 10.01.
|
Replacement Bond.
|
9
|
ARTICLE XI
|
||
MISCELLANEOUS
|
||
SECTION 11.01.
|
Ratification and Confirmation.
|
9
|
SECTION 11.02.
|
Representations and Warranties of the Issuer.
|
9
|
SECTION 11.03.
|
Execution and Counterparts.
|
9
|
SECTION 11.04.
|
Applicable Law.
|
10
|
SECTION 11.05.
|
Interdependence with the Original Indenture.
|
10
|
SECTION 11.06.
|
Severability.
|
10
|
SECTION 11.07.
|
Dating.
|
10
|
SECTION 11.08.
|
Agreement.
|
10
|
If to the Company:
|
NuStar Logistics, L.P.
|
|
19003 IH-10 West
|
||
San Antonio, Texas 78257
|
||
Attention: Christopher C. Russell
|
||
Telecopier: (210) 918-5758
|
||
If to the Remarketing Agent:
|
Address to be furnished when appointed
|
PARISH OF ST. JAMES, STATE OF LOUISIANA
|
||
By:
|
||
Parish President
|
By:
|
||
Secretary, Parish Council
|
(SEAL)
|
U.S. BANK NATIONAL ASSOCIATION
|
||
By:
|
||
Authorized Officer
|
ARTICLE I
|
||
DEFINITIONS AND RULES OF CONSTRUCTION
|
||
SECTION 1.01.
|
Definitions.
|
2
|
ARTICLE II
|
||
AMENDMENT TO ARTICLE VI OF THE ORIGINAL AGREEMENT
|
||
SECTION 2.01.
|
Amendment to Section 6.08.
|
2
|
SECTION 2.02.
|
Additional Covenants.
|
2
|
ARTICLE III
|
||
AMENDMENT TO ARTICLE IX OF THE ORIGINAL AGREEMENT
|
||
SECTION 3.01.
|
Notices.
|
2
|
ARTICLE IV
|
||
MISCELLANEOUS
|
||
SECTION 4.01.
|
Ratification and Confirmation.
|
3
|
SECTION 4.02.
|
Representations and Warranties of the Issuer.
|
3
|
SECTION 4.03.
|
Execution and Counterparts.
|
3
|
SECTION 4.04.
|
Applicable Law.
|
3
|
SECTION 4.05.
|
Interdependence with the Original Agreement.
|
3
|
SECTION 4.06.
|
Severability.
|
3
|
SECTION 4.07.
|
Dating.
|
3
|
SECTION 4.08.
|
Indenture.
|
3
|
SECTION 4.09.
|
Consent of Company.
|
4
|
EXHIBIT A – GUARANTEES AND ADDITIONAL COVENANTS
|
EXHIBIT B – ORIGINAL INDENTURE
|
EXHIBIT C – FIRST SUPPLEMENTAL INDENTURE
|
If to the Company:
|
NuStar Logistics, L.P.
|
19003 IH-10 West
|
|
San Antonio, Texas 78257
|
|
Attention: Christopher C. Russell
|
|
Telecopier: (210) 918-5758
|
If to the Guarantors:
|
NuStar Energy L.P.
|
19003 IH-10 West
|
|
San Antonio, Texas 78257
|
|
Attention: Christopher C. Russell
|
|
Telecopier: (210) 918-5758
|
|
NuStar Pipeline Operating Partnership L.P.
|
|
19003 IH-10 West
|
|
San Antonio, Texas 78257
|
|
Attention: Christopher C. Russell
|
|
Telecopier: (210) 918-5758
|
|
PARISH OF ST. JAMES, STATE OF LOUISIANA | |
|
|
|
|
By: | /s/ Peter A. Dufresne |
|
|
Parish President |
ATTEST: | |||
|
|
|
|
By: | /s/ Linda Hubbell |
|
|
|
Secretary, Parish Council |
|
|
|
|
|
|
(SEAL)
|
|
NUSTAR LOGISTICS, L.P.
|
|
By:
|
NuStar GP, Inc., its general partner | |
|
|
|
|
By: | /s/ Thomas R. Shoaf |
|
Name:
|
Thomas R. Shoaf |
Title: |
Executive Vice President and Chief Financial Officer
|
NUSTAR ENERGY L.P. | |||
By: | Riverwalk Logistics, L.P., its general partner |
|
|
By:
|
NuStar GP, LLC, its general partner | ||
By: | /s/ Thomas R. Shoaf |
|
|
Name:
|
Thomas R. Shoaf |
|
|
Title: | Executive Vice President and Chief Financial Officer |
|
|
NUSTAR PIPELINE OPERATING PARTNERSHIP L.P. | |||
By:
|
NuStar Pipeline Company, LLC, its general partner | ||
By: | /s/ Thomas R. Shoaf | ||
Name: | Thomas R. Shoaf | ||
Title: | Executive Vice President and Chief Financial Officer |
ARTICLE I
|
||
DEFINITIONS
|
||
SECTION 1.01.
|
Definitions
|
4
|
SECTION 1.02.
|
Uses of Phrases
|
10
|
ARTICLE II
|
||
THE BONDS
|
||
SECTION 2.01.
|
Authorized Amount of Bonds
|
11
|
SECTION 2.02.
|
Issuance and Term of Bonds
|
11
|
SECTION 2.03.
|
Daily Period
|
11
|
SECTION 2.04.
|
Weekly Period
|
12
|
SECTION 2.05.
|
Commercial Paper Period
|
12
|
SECTION 2.06.
|
Long Term Period
|
13
|
SECTION 2.07.
|
Conversion Option
|
14
|
SECTION 2.08.
|
Execution; Limited Obligations
|
15
|
SECTION 2.09.
|
Authentication
|
15
|
SECTION 2.10.
|
Form of Bonds
|
16
|
SECTION 2.11.
|
Delivery of Bonds
|
16
|
SECTION 2.12.
|
Mutilated, Lost, Stolen or Destroyed Bonds
|
16
|
SECTION 2.13.
|
Transfer of Bonds; Persons Treated as Owners
|
17 |
SECTION 2.14.
|
Destruction of Bonds
|
17
|
SECTION 2.15.
|
Temporary Bonds
|
18 |
SECTION 2.16.
|
Book-Entry System
|
18
|
ARTICLE III
|
||
REDEMPTION OF BONDS BEFORE MATURITY
|
||
SECTION 3.01.
|
Extraordinary Redemption
|
21
|
SECTION 3.02.
|
Optional Redemption by the Company
|
21
|
SECTION 3.03.
|
Notice of Redemption
|
22
|
SECTION 3.04.
|
Redemption Payments
|
23
|
SECTION 3.05.
|
Cancellation
|
23
|
SECTION 3.06.
|
Partial Redemption of Bonds
|
23
|
ARTICLE IV
|
||
MANDATORY PURCHASE DATE; DEMAND PURCHASE OPTION
|
||
SECTION 4.01.
|
Mandatory Purchase of Bonds on Mandatory Purchase Date
|
24
|
SECTION 4.02.
|
Demand Purchase Option
|
24
|
SECTION 4.03.
|
Funds for Purchase of Bonds
|
25
|
SECTION 4.04.
|
Delivery of Purchased Bonds
|
25
|
SECTION 4.05.
|
Delivery of Proceeds of Sale of Purchased Bonds
|
26
|
SECTION 4.06.
|
Duties of Trustee With Respect to Purchase of Bonds
|
26
|
SECTION 4.07.
|
Remarketing of Bonds
|
27
|
ARTICLE V
|
||
GENERAL COVENANTS
|
||
SECTION 5.01.
|
Payment of Principal, Premium, if any, and Interest
|
28
|
SECTION 5.02.
|
Performance of Covenants
|
28
|
SECTION 5.03.
|
Instruments of Further Assurance
|
28
|
SECTION 5.04.
|
Recording and Filing
|
29
|
SECTION 5.05.
|
Inspection of Books
|
29
|
SECTION 5.06.
|
List of Owners of Bonds
|
29
|
SECTION 5.07.
|
Rights Under Agreement
|
29
|
SECTION 5.08.
|
[Reserved]
|
29
|
SECTION 5.09.
|
Undertaking to Provide Ongoing Disclosure
|
29
|
SECTION 5.10.
|
Notice of Control
|
30
|
ARTICLE VI
|
||
REVENUES AND FUNDS
|
||
SECTION 6.01.
|
Creation of Bond Fund
|
31
|
SECTION 6.02.
|
Payments into the Bond Fund
|
31
|
SECTION 6.03.
|
Use of Moneys in the Bond Fund
|
31
|
SECTION 6.04.
|
Payment of Bonds with Proceeds of Refunding Bonds
|
32 |
SECTION 6.05.
|
Project Fund
|
32
|
SECTION 6.06.
|
Payments into the Project Fund; Disbursements
|
32
|
SECTION 6.07.
|
Use of Moneys in the Project Fund Upon Default
|
32
|
SECTION 6.08.
|
Completion of the Project
|
32
|
SECTION 6.09.
|
Nonpresentment of Bonds
|
33 |
SECTION 6.10.
|
Moneys to be Held in Trust
|
33
|
SECTION 6.11.
|
Repayment to the Credit Provider and the Company from the Bond Fund or the Project Fund
|
33
|
SECTION 6.12.
|
Credit Facility
|
33
|
SECTION 6.13.
|
Creation of Rebate Fund; Duties of Trustee; Amounts Held in Rebate Fund
|
34
|
ARTICLE VII
|
||
INVESTMENT OF MONEYS
|
||
SECTION 7.01.
|
Investment of Moneys
|
35 |
ARTICLE VIII
|
||
DISCHARGE OF INDENTURE
|
||
SECTION 8.01.
|
Discharge of Indenture
|
38 |
SECTION 8.02.
|
Defeasance of Bonds
|
38 |
ARTICLE IX
|
||
DEFAULTS AND REMEDIES
|
||
SECTION 9.01.
|
Defaults
|
41 |
SECTION 9.02.
|
Acceleration
|
41 |
SECTION 9.03.
|
Other Remedies; Rights of Owners of Bonds
|
42 |
SECTION 9.04.
|
Right of Owners of Bonds to Direct Proceedings
|
42 |
SECTION 9.05.
|
Appointment of Receivers
|
42 |
SECTION 9.06.
|
Waiver
|
43
|
SECTION 9.07.
|
Application of Moneys
|
43 |
SECTION 9.08.
|
Remedies Vested in Trustee
|
45
|
SECTION 9.09.
|
Rights and Remedies of Owners of Bonds
|
45 |
SECTION 9.10.
|
Termination of Proceedings
|
45 |
SECTION 9.11.
|
Waivers of Default
|
46
|
SECTION 9.12.
|
Notice of Defaults under Section 9.01(e) or (f); Opportunity to Cure Such Defaults
|
46 |
SECTION 9.13.
|
Subrogation Rights of Credit Provider
|
47
|
ARTICLE X
|
||
TRUSTEE
|
||
SECTION 10.01.
|
Acceptance of Trusts
|
48 |
SECTION 10.02.
|
Fees, Charges and Expenses of the Trustee
|
51 |
SECTION 10.03.
|
Notice to Owners of Bonds if Default Occurs
|
51 |
SECTION 10.04.
|
Intervention by the Trustee
|
51 |
SECTION 10.05.
|
Successor Trustee
|
52 |
SECTION 10.06.
|
Resignation by the Trustee
|
52 |
SECTION 10.07.
|
Removal of the Trustee
|
52 |
SECTION 10.08.
|
Appointment of Successor Trustee by Owners of Bonds
|
52 |
SECTION 10.09.
|
Acceptance by Successor Trustee
|
53 |
SECTION 10.10.
|
Appointment of Co-Trustee
|
53 |
SECTION 10.11.
|
Successor Remarketing Agent
|
54 |
SECTION 10.12.
|
Notice of Rating Agencies
|
55 |
ARTICLE XI
|
||
SUPPLEMENTAL INDENTURES
|
||
SECTION 11.01.
|
Supplemental Indentures Not Requiring Consent of Owners of Bonds
|
56 |
SECTION 11.02.
|
Supplemental Indentures Requiring Consent of Owners of Bonds
|
57 |
SECTION 11.03.
|
Consent of the Company
|
58 |
SECTION 11.04.
|
Execution of Amendments and Supplements by Trustee
|
58 |
ARTICLE XII
|
||
AMENDMENT OF AGREEMENT
|
||
SECTION 12.01.
|
Amendments to Agreement Not Requiring Consent of Owners of Bonds
|
59 |
SECTION 12.02.
|
Amendments to Agreement Requiring Consent of Owners of Bonds
|
59 |
ARTICLE XIII
|
||
MISCELLANEOUS
|
||
SECTION 13.01.
|
Consents of Owners of Bonds
|
60 |
SECTION 13.02.
|
Limitation of Rights
|
60 |
SECTION 13.03.
|
Severability
|
60 |
SECTION 13.04.
|
Notices
|
60 |
SECTION 13.05.
|
Payments Due on Saturdays, Sundays and Holidays
|
62 |
SECTION 13.06.
|
Counterparts
|
62 |
SECTION 13.07.
|
Applicable Provisions of Law
|
62 |
SECTION 13.08.
|
Rules of Interpretation
|
62 |
SECTION 13.09.
|
Captions
|
62 |
SECTION 13.10.
|
No Personal Liability
|
62 |
SECTION 13.11.
|
Certain References Ineffective Except During a Credit Facility Period
|
63 |
EXHBIT A
|
Form of Bonds
|
EXHBIT B
|
Form of Notice from Trustee to Owner Regarding Mandatory Purchase Date
|
EXHBIT C
|
Costs of Issuance
|
EXHBIT D
|
Form of Completion Certificate
|
Redemption Dates
|
Redemption Prices
|
First Optional Redemption Date through (and including) the day immediately preceding the first anniversary of the First Optional Redemption Date
|
102%
|
First anniversary of the First Optional Redemption Date through (and including) the day immediately preceding the second anniversary of the First Optional Redemption Date
|
101%
|
Second anniversary of the First Optional Redemption Date and thereafter
|
100%
|
Issuer:
|
Parish of St. James, State of Louisiana
P.O. Box 176
Vacherie, Louisiana 70090
Attention: Parish President
|
Trustee:
|
U.S. Bank National Association
1349 West Peachtree, NW
Two Midtown Plaza, Suite 1050
Atlanta, Georgia 30309
Attention: Corporate Trust Division
|
Company:
|
NuStar Logistics, L.P.
2330 North Loop 1604 West
San Antonio, TX 78248
Attention: Chief Financial Officer
|
Credit Provider:
|
JPMorgan Chase Bank, N.A.
Loan and Agency Services Group
1111 Fannin, 8th Floor
Houston, TX 77002
Attention: Maria Arreola
|
JPMorgan Chase Bank, N.A.
300 South Riverside Plaza
Mail Code IL1-023
Standby Letter of Credit Unit
Chicago, IL 60606-0236
Attention: Standby Service Unit
|
|
Remarketing Agent:
|
SunTrust Robinson Humphrey, Inc.
3333 Peachtree Road, 11th Floor
Atlanta, Georgia 30326
Attention: Municipal Desk
|
Fitch:
|
Fitch, Inc.
One State Street Plaza
New York, New York 10004
Attention: Structured Finance
|
Moody’s
|
Moody’s Investors Service, Inc.
99 Church Street
New York, New York 10007
Attention: Corporate Department, Structured Finance Group
|
S&P:
|
Standard & Poor’s Ratings Services,
a Standard & Poor’s Financial Services LLC business
55 Water Street
New York, New York 10041
Attention: Corporate Finance Department
|
PARISH OF ST. JAMES, STATE OF LOUISIANA
|
||
By:
|
|
|
Parish President
|
||
ATTEST:
|
||
[SEAL]
|
By
|
||
Secretary, Parish Counsel
|
U.S. BANK NATIONAL ASSOCIATION
|
||
By:
|
||
Authorized Officer
|
Maturity Date:
|
CUSIP No.
|
Dated Date:
|
|
Registered Owner: Cede & Co. (Tax Identification #13-2555119)
|
|
Type of Interest Period:
|
|
Principal Amount:
|
TYPE OF
INTEREST PERIOD
|
ACCRUAL
PERIOD1
|
INTEREST
PAYMENT DATE
|
RECORD DATE
|
|||
Daily
|
Calendar Month
|
Fifth Business Day of the next month
|
Last Business Day the Accrual Period
|
|||
Weekly
|
First Wednesday of each month through the first Tuesday of the next succeeding month
|
First Wednesday of each month
|
Last Business Day before Interest Payment Date
|
|||
Commercial Paper
|
From 1 to 270 days as determined for each Bond pursuant to the Indenture (“Calculation Period”)
|
First day following Calculation Period
|
Last Business Day before Interest Payment Date
|
|||
Long Term
|
Six-month period or portion thereof beginning on the Conversion Date and ending on the last day of the sixth calendar month following (and including) the month in which the Conversion Date occurs and each six-month period thereafter
|
First day of the seventh calendar month following (and including) the month in which the Conversion Date occurs and the first day of every sixth month thereafter
|
Fifteenth of the month before the Interest Payment Date
|
1
|
If the Conversion Date does not coincide with the first day of the Accrual Period for the new Interest Period, then the first day of such Accrual Period shall be the Conversion Date, but all other terms and
conditions shall be as set forth in the above Table.
|
Redemption Dates
|
Redemption Prices
|
First Optional Redemption Date through (and including) the day immediately preceding the first anniversary of the First Optional Redemption Date
|
102%
|
First anniversary of the First Optional Redemption Date through (and including) the day immediately preceding the second anniversary of the First Optional Redemption Date
|
101%
|
Second anniversary of the First Optional Redemption Date and thereafter
|
100%
|
Parish of St. James, State of Louisiana
|
||
By:
|
||
Parish President
|
||
ATTEST:
|
||
[SEAL]
|
By
|
||
Secretary, Parish Counsel
|
U.S. BANK NATIONAL ASSOCIATION,
|
||
as Trustee
|
||
By:
|
||
Authorized Signatory
|
||
Date of Authentication:
|
||
________________, 2010
|
Secretary, Parish Council
|
Dated:
|
||
Signature Guarantee: | ||
(Authorized Officer)
Signature must be guaranteed
by an intuition which is a
participant in the Securities
Transfer Agent Medallion
Program (STAMP) or similar
program
|
NOTICE: The signature to this assignment must correspond with the name as it appears upon the face of the within Bond in every particular, without Bond in every particular, without alteration or enlargement or any change whatever.
|
U.S. BANK NATIONAL ASSOCIATION, as Trustee
|
||
By:
|
||
Title:
|
COSTS OF ISSUANCE
|
||||
Louisiana State Bond Commission
Baton Rouge, Louisiana
|
$
|
104,500
|
||
Parish of St. James, State of Louisiana
Vacherie, Louisiana
|
$
|
0.00
|
||
Bruce G. Mohon, Counsel to the Issuer
Gramercy, Louisiana
|
$
|
10,000
|
||
Adams and Reese LLP, Co-Company Counsel
New Orleans, Louisiana
and Andrews Kurth LLP
Houston, Texas
|
$
|
56,500
|
||
Foley & Judell, L.L.P., Bond Counsel
New Orleans, Louisiana
|
$
|
81,500
|
||
Gregory A. Pletsch & Associates, Trustee Counsel
Baton Rouge, Louisiana
|
$
|
10,000
|
||
JP Morgan Chase Bank, N.A., Letter of Credit Bank
Houston, Texas
|
$
|
500
|
||
Vinson & Elkins, L.L.P., Letter of Credit Bank Counsel
Houston, Texas
|
$
|
65,164
|
||
U.S. Bank National Association, Trustee
Atlanta, Georgia
|
$
|
5,000
|
||
SunTrust Robinson Humphrey Inc., Underwriter
Atlanta, Georgia
|
$
|
610,399
|
||
Hunton & Williams, LLP, Underwriter Counsel
McClean, VA
|
$
|
22,500
|
||
Moody’s Investors Service, Inc.
New York, New York
|
$
|
20,400
|
||
TOTAL
|
$
|
986,463
|
NUSTAR LOGISTICS, L.P.
|
||
By:
|
||
Company Representative
|
ARTICLE I
|
||
DEFINITIONS AND RULES OF CONSTRUCTION
|
||
SECTION 1.01.
|
Definitions.
|
2
|
ARTICLE II
|
||
AMENDMENT TO GRANTING CLAUSES OF TRUST ESTATE
|
||
SECTION 2.01.
|
Granting Clauses.
|
3
|
ARTICLE III
|
||
AMENDMENT TO ARTICLE II OF THE ORIGINAL INDENTURE
|
||
SECTION 3.01.
|
Issuance and Terms of Bonds.
|
4
|
ARTICLE IV
|
||
AMENDMENT TO ARTICLE III OF THE ORIGINAL INDENTURE
|
||
SECTION 4.01.
|
Extraordinary Redemption.
|
5
|
SECTION 4.02.
|
Optional Redemption by the Company.
|
5
|
SECTION 4.03.
|
Partial Redemption of Bonds.
|
5
|
SECTION 4.04.
|
Additional Section in Article III.
|
5
|
ARTICLE V
|
||
AMENDMENT TO ARTICLE IV OF THE ORIGINAL INDENTURE
|
||
SECTION 5.01.
|
Mandatory Purchase of Bonds on Mandatory Purchase Date.
|
6
|
SECTION 5.02.
|
Funds for Purchase of Bonds.
|
7
|
ARTICLE VI
|
||
AMENDMENT TO ARTICLE V OF THE ORIGINAL INDENTURE
|
||
SECTION 6.01.
|
Additional Sections in Article V.
|
7
|
ARTICLE VII
|
||
AMENDMENT TO ARTICLE VI OF THE ORIGINAL INDENTURE
|
||
SECTION 7.01.
|
Additional Section in Article VI.
|
8
|
ARTICLE VIII
|
||
AMENDMENT TO ARTICLE XIII OF THE ORIGINAL INDENTURE
|
||
SECTION 8.01.
|
Notices.
|
8
|
ARTICLE IX
|
||
AMENDMENT TO ARTICLE X OF THE ORIGINAL INDENTURE
|
||
SECTION 9.01.
|
Successor Remarketing Agent.
|
8
|
ARTICLE X
|
||
REPLACEMENT BOND
|
||
SECTION 10.01.
|
Replacement Bond.
|
9
|
ARTICLE XI
|
||
MISCELLANEOUS
|
||
SECTION 11.01.
|
Ratification and Confirmation.
|
9
|
SECTION 11.02.
|
Representations and Warranties of the Issuer.
|
9
|
SECTION 11.03.
|
Execution and Counterparts.
|
9
|
SECTION 11.04.
|
Applicable Law.
|
10
|
SECTION 11.05.
|
Interdependence with the Original Indenture.
|
10
|
SECTION 11.06.
|
Severability.
|
10
|
SECTION 11.07.
|
Dating.
|
10
|
SECTION 11.08.
|
Agreement.
|
10
|
If to the Company:
|
NuStar Logistics, L.P.
|
19003 IH-10 West
|
|
San Antonio, Texas 78257
|
|
Attention: Christopher C. Russell
|
|
Telecopier: (210) 918-5758
|
|
If to the Remarketing Agent:
|
Address to be furnished when appointed
|
PARISH OF ST. JAMES, STATE OF
LOUISIANA
|
||
By:
|
||
|
Parish President
|
ATTEST:
|
|||
|
|
|
|
By:
|
|
|
|
|
Secretary, Parish Council
|
|
|
|
|
(SEAL)
|
U.S. BANK NATIONAL ASSOCIATION
|
||
By:
|
||
Authorized Officer
|
Issuer:
|
Parish of St. James, State of Louisiana
|
|
P. O. Box 176
|
||
Vacherie, Louisiana 70090
|
||
Attention: Parish President
|
Trustee:
|
U.S. Bank National Association
|
|
1349 West Peachtree, NW
|
||
Two Midtown Plaza, Suite 1050
|
||
Atlanta, Georgia 30309
|
||
Attention: Corporate Trust Department
|
Company:
|
NuStar Logistics, L.P.
|
|
2330 North Loop 1604 West
|
||
San Antonio, Texas 78248
|
||
Attention: Chief Financial Officer
|
Credit Provider:
|
JPMorgan Chase Bank, N.A.
|
|
Loan and Agency Services Group
|
||
1111 Fannin, 8th Floor
|
||
Houston, TX 77002
|
||
Attention: Maria Arreola
|
JPMorgan Chase Bank, N.A.
|
|
300 South Riverside Plaza
|
|
Mail Code IL1-0236
|
|
Standby Letter of Credit Unit
|
|
Chicago, IL 60606-0236
|
|
Attention: Standby Service Unit
|
Remarketing Agent:
|
SunTrust Robinson Humphrey, Inc.
|
|
3333 Peachtree Road, 11th Floor
|
||
Atlanta, Georgia 30326
|
||
Attention: Municipal Desk
|
Fitch:
|
Fitch, Inc.
|
|
One State Street Plaza
|
||
New York, New York 10004
|
||
Attention: Structured Finance
|
Moody’s:
|
Moody’s Investors Service, Inc.
|
|
99 Church Street
|
||
New York, New York 10007
|
||
Attention: Corporate Department, Structured Finance Group
|
S&P:
|
Standard & Poor’s Ratings Services,
|
|
a Standard & Poor’s Financial Services LLC business
|
||
55 Water Street
|
||
New York, New York 10041
|
||
Attention: Corporate Finance Department
|
PARISH OF ST. JAMES,
|
|||
STATE OF LOUISIANA
|
|||
By:
|
/s/ Dale Hymel
|
||
Parish President
|
|||
ATTEST:
|
By:
|
Angela R. Rodrigue
|
|
Secretary, Parish Council
|
[SEAL]
|
NUSTAR LOGISTICS, L.P.
|
|||
By: NUSTAR GP, INC., its general partner
|
|||
WITNESSES: | |||
|
|||
By:
|
/s/ Steven A. Blank
|
||
Senior Vice President, Chief Financial Officer and Treasurer
|
ARTICLE I
|
||
DEFINITIONS AND RULES OF CONSTRUCTION
|
||
SECTION 1.01.
|
Definitions.
|
2
|
ARTICLE II
|
||
AMENDMENT TO ARTICLE VI OF THE ORIGINAL AGREEMENT
|
||
SECTION 2.01.
|
Amendment to Section 6.08.
|
2
|
SECTION 2.02.
|
Additional Covenants.
|
2
|
ARTICLE III
|
||
AMENDMENT TO ARTICLE IX OF THE ORIGINAL AGREEMENT
|
||
SECTION 3.01.
|
Notices.
|
2
|
ARTICLE IV
|
||
MISCELLANEOUS
|
||
SECTION 4.01.
|
Ratification and Confirmation.
|
3
|
SECTION 4.02.
|
Representations and Warranties of the Issuer.
|
3
|
SECTION 4.03.
|
Execution and Counterparts.
|
3
|
SECTION 4.04.
|
Applicable Law.
|
3
|
SECTION 4.05.
|
Interdependence with the Original Agreement.
|
3
|
SECTION 4.06.
|
Severability.
|
3
|
SECTION 4.07.
|
Dating.
|
3
|
SECTION 4.08.
|
Indenture.
|
3
|
SECTION 4.09.
|
Consent of Company.
|
4
|
If to the Company:
|
NuStar Logistics, L.P.
|
|
19003 IH-10 West
|
||
San Antonio, Texas 78257
|
||
Attention: Christopher C. Russell
|
||
Telecopier: (210) 918-5758
|
If to the Guarantors:
|
NuStar Energy L.P.
|
|
19003 IH-10 West
|
||
San Antonio, Texas 78257
|
||
Attention: Christopher C. Russell
|
||
Telecopier: (210) 918-5758
|
||
NuStar Pipeline Operating Partnership L.P.
|
||
19003 IH-10 West
|
||
San Antonio, Texas 78257
|
||
Attention: Christopher C. Russell
|
||
Telecopier: (210) 918-5758
|
PARISH OF ST. JAMES, STATE OF LOUISIANA
|
||||
By:
|
/s/ Peter A. Dufresne
|
|||
Parish President
|
||||
ATTEST:
|
||||
By:
|
/s/ Linda Hubbell
|
|||
Secretary, Parish Council
|
(SEAL)
|
||
NUSTAR LOGISTICS, L.P.
|
||
By: NuStar GP, Inc., its general partner
|
||
By:
|
/s/ Thomas R. Shoaf
|
|
Name:
|
Thomas R. Shoaf
|
|
Title:
|
Executive Vice President and Chief Financial Officer
|
NUSTAR ENERGY L.P.
|
||
By:
|
Riverwalk Logistics, L.P., its general partner
|
|
By:
|
NuStar GP, LLC, its general partner
|
|
By:
|
/s/ Thomas R. Shoaf
|
|
Name:
|
Thomas R. Shoaf
|
|
Title:
|
Executive Vice President and Chief Financial Officer
|
|
NUSTAR PIPELINE OPERATING PARTNERSHIP L.P.
|
||
By:
|
NuStar Pipeline Company, LLC, its general partner
|
|
By:
|
/s/ Thomas R. Shoaf
|
|
Name:
|
Thomas R. Shoaf
|
|
Title:
|
Executive Vice President and Chief Financial Officer
|
ARTICLE I
|
||
DEFINITIONS
|
||
SECTION 1.01.
|
Definitions
|
5 |
SECTION 1.02.
|
Uses of Phrases
|
11
|
ARTICLE II
|
||
THE BONDS
|
||
SECTION 2.01.
|
Authorized Amount of Bonds
|
12
|
SECTION 2.02.
|
Issuance and Term of Bonds
|
12
|
SECTION 2.03.
|
Daily Period
|
12
|
SECTION 2.04.
|
Weekly Period
|
13
|
SECTION 2.05.
|
Commercial Paper Period
|
13
|
SECTION 2.06.
|
Long Term Period
|
14
|
SECTION 2.07.
|
Conversion Option
|
15
|
SECTION 2.08.
|
Execution; Limited Obligations
|
16
|
SECTION 2.09.
|
Authentication
|
16
|
SECTION 2.10.
|
Form of Bonds
|
17
|
SECTION 2.11.
|
Delivery of Bonds
|
17
|
SECTION 2.12.
|
Mutilated, Lost, Stolen or Destroyed Bonds
|
17
|
SECTION 2.13.
|
Transfer of Bonds; Persons Treated as Owners
|
17
|
SECTION 2.14.
|
Destruction of Bonds
|
18
|
SECTION 2.15.
|
Temporary Bonds
|
18
|
SECTION 2.16.
|
Book-Entry System
|
19
|
ARTICLE III
|
||
REDEMPTION OF BONDS BEFORE MATURITY
|
||
SECTION 3.01.
|
Extraordinary Redemption
|
22
|
SECTION 3.02.
|
Optional Redemption by the Company
|
22
|
SECTION 3.03.
|
Notice of Redemption
|
23
|
SECTION 3.04.
|
Redemption Payments
|
24
|
SECTION 3.05.
|
Cancellation
|
24
|
SECTION 3.06.
|
Partial Redemption of Bonds
|
24
|
ARTICLE IV
|
||
MANDATORY PURCHASE DATE; DEMAND PURCHASE OPTION
|
||
SECTION 4.01.
|
Mandatory Purchase of Bonds on Mandatory Purchase Date
|
25
|
SECTION 4.02.
|
Demand Purchase Option
|
25
|
SECTION 4.03.
|
Funds for Purchase of Bonds
|
26
|
SECTION 4.04.
|
Delivery of Purchased Bonds
|
26
|
SECTION 4.05.
|
Delivery of Proceeds of Sale of Purchased Bonds
|
27
|
SECTION 4.06.
|
Duties of Trustee With Respect to Purchase of Bonds
|
27
|
SECTION 4.07.
|
Remarketing of Bonds
|
28
|
ARTICLE V
|
||
GENERAL COVENANTS
|
||
SECTION 5.01.
|
Payment of Principal, Premium, if any, and Interest
|
29
|
SECTION 5.02.
|
Performance of Covenants
|
29
|
SECTION 5.03.
|
Instruments of Further Assurance
|
29
|
SECTION 5.04.
|
Recording and Filing
|
30
|
SECTION 5.05.
|
Inspection of Books
|
30
|
SECTION 5.06.
|
List of Owners of Bonds
|
30
|
SECTION 5.07.
|
Rights Under Agreement
|
30
|
SECTION 5.08.
|
[Reserved]
|
30
|
SECTION 5.09.
|
Undertaking to Provide Ongoing Disclosure
|
30
|
SECTION 5.10.
|
Notice of Control
|
31
|
ARTICLE VI
|
||
REVENUES AND FUNDS
|
||
SECTION 6.01.
|
Creation of Bond Fund
|
32
|
SECTION 6.02.
|
Payments into the Bond Fund
|
32
|
SECTION 6.03.
|
Use of Moneys in the Bond Fund
|
32
|
SECTION 6.04.
|
Payment of Bonds with Proceeds of Refunding Bonds
|
32
|
SECTION 6.05.
|
Project Fund
|
33
|
SECTION 6.06.
|
Payments into the Project Fund; Disbursements
|
33
|
SECTION 6.07.
|
Use of Moneys in the Project Fund Upon Default
|
33
|
SECTION 6.08.
|
Completion of the Project
|
33
|
SECTION 6.09.
|
Nonpresentment of Bonds
|
33
|
SECTION 6.10.
|
Moneys to be Held in Trust
|
34
|
SECTION 6.11.
|
Repayment to the Credit Provider and the Company from the Bond Fund or the Project Fund
|
34
|
SECTION 6.12.
|
Credit Facility
|
34
|
SECTION 6.13.
|
Creation of Rebate Fund; Duties of Trustee; Amounts Held in Rebate Fund
|
35
|
ARTICLE VII
|
||
INVESTMENT OF MONEYS
|
||
SECTION 7.01.
|
Investment of Moneys
|
36
|
ARTICLE VIII
|
||
DISCHARGE OF INDENTURE
|
||
SECTION 8.01.
|
Discharge of Indenture
|
39
|
SECTION 8.02.
|
Defeasance of Bonds
|
39
|
ARTICLE IX
|
||
DEFAULTS AND REMEDIES
|
||
SECTION 9.01.
|
Defaults
|
42
|
SECTION 9.02.
|
Acceleration
|
42
|
SECTION 9.03.
|
Other Remedies; Rights of Owners of Bonds
|
43
|
SECTION 9.04.
|
Right of Owners of Bonds to Direct Proceedings
|
43
|
SECTION 9.05.
|
Appointment of Receivers
|
43
|
SECTION 9.06.
|
Waiver
|
43
|
SECTION 9.07.
|
Application of Moneys
|
44
|
SECTION 9.08.
|
Remedies Vested in Trustee
|
45
|
SECTION 9.09.
|
Rights and Remedies of Owners of Bonds
|
46
|
SECTION 9.10.
|
Termination of Proceedings
|
46
|
SECTION 9.11.
|
Waivers of Default
|
46
|
SECTION 9.12.
|
Notice of Defaults under Section 9.01(e) or (f); Opportunity to Cure Such Defaults
|
47
|
SECTION 9.13.
|
Subrogation Rights of Credit Provider
|
47
|
ARTICLE X
|
||
TRUSTEE
|
||
SECTION 10.01.
|
Acceptance of Trusts
|
48
|
SECTION 10.02.
|
Fees, Charges and Expenses of the Trustee
|
51
|
SECTION 10.03.
|
Notice to Owners of Bonds if Default Occurs
|
51
|
SECTION 10.04.
|
Intervention by the Trustee
|
51
|
SECTION 10.05.
|
Successor Trustee
|
52
|
SECTION 10.06.
|
Resignation by the Trustee
|
52
|
SECTION 10.07.
|
Removal of the Trustee
|
52
|
SECTION 10.08.
|
Appointment of Successor Trustee by Owners of Bonds
|
52
|
SECTION 10.09.
|
Acceptance by Successor Trustee
|
53
|
SECTION 10.10.
|
Appointment of Co-Trustee
|
53
|
SECTION 10.11.
|
Successor Remarketing Agent
|
54
|
SECTION 10.12.
|
Notice of Rating Agencies
|
55
|
ARTICLE XI
|
||
SUPPLEMENTAL INDENTURES
|
||
SECTION 11.01.
|
Supplemental Indentures Not Requiring Consent of Owners of Bonds
|
56
|
SECTION 11.02.
|
Supplemental Indentures Requiring Consent of Owners of Bonds
|
57
|
SECTION 11.03.
|
Consent of the Company
|
58
|
SECTION 11.04.
|
Execution of Amendments and Supplements by Trustee
|
58
|
ARTICLE XII
|
||
AMENDMENT OF AGREEMENT
|
||
SECTION 12.01.
|
Amendments to Agreement Not Requiring Consent of Owners of Bonds
|
59
|
SECTION 12.02.
|
Amendments to Agreement Requiring Consent of Owners of Bonds
|
59
|
ARTICLE XIII
|
||
MISCELLANEOUS
|
||
SECTION 13.01.
|
Consents of Owners of Bonds
|
60
|
SECTION 13.02.
|
Limitation of Rights
|
60
|
SECTION 13.03.
|
Severability
|
60
|
SECTION 13.04.
|
Notices
|
60
|
SECTION 13.05.
|
Payments Due on Saturdays, Sundays and Holidays
|
62
|
SECTION 13.06.
|
Counterparts
|
62
|
SECTION 13.07.
|
Applicable Provisions of Law
|
62
|
SECTION 13.08.
|
Rules of Interpretation
|
62
|
SECTION 13.09.
|
Captions
|
62
|
SECTION 13.10.
|
No Personal Liability
|
62
|
SECTION 13.11.
|
Certain References Ineffective Except During a Credit Facility Period
|
63
|
EXHBIT A
|
Form of Bonds
|
EXHBIT B
|
Form of Notice from Trustee to Owner Regarding Mandatory Purchase Date
|
|
EXHBIT C
|
Costs of Issuance
|
|
EXHBIT D
|
Form of Completion Certificate
|
Redemption Dates
|
Redemption Prices
|
First Optional Redemption Date through (and including) the day immediately preceding the first anniversary of the First Optional Redemption Date
|
102%
|
First anniversary of the First Optional Redemption Date through (and including) the day immediately preceding the second anniversary of the First Optional Redemption Date
|
101%
|
Second anniversary of the First Optional Redemption Date and thereafter
|
100%
|
Issuer:
|
Parish of St. James, State of Louisiana
P.O. Box 176 Vacherie, Louisiana 70090 Attention: Parish President |
Trustee:
|
U.S. Bank National Association
1349 West Peachtree, NW Two Midtown Plaza, Suite 1050 Atlanta, Georgia 30309 Attention: Corporate Trust Division |
Company:
|
NuStar Logistics, L.P.
2330 North Loop 1604 West San Antonio, TX 78248 Attention: Chief Financial Officer |
Credit Provider:
|
JPMorgan Chase Bank, N.A.
Loan and Agency Services Group 1111 Fannin, 8th Floor Houston, TX 77002 Attention: Maria Arreola |
JPMorgan Chase Bank, N.A.
300 South Riverside Plaza Mail Code IL1-023 Standby Letter of Credit Unit Chicago, IL 60606-0236 Attention: Standby Service Unit |
|
Remarketing Agent:
|
SunTrust Robinson Humphrey, Inc.
3333 Peachtree Road, 11th Floor Atlanta, Georgia 30326 Attention: Municipal Desk |
Fitch:
|
Fitch, Inc.
One State Street Plaza New York, New York 10004 Attention: Structured Finance |
Moody’s
|
Moody’s Investors Service, Inc.
99 Church Street New York, New York 10007 Attention: Corporate Department, Structured Finance Group |
S&P:
|
Standard & Poor’s Ratings Services,
a Standard & Poor’s Financial Services LLC business 55 Water Street New York, New York 10041 Attention: Corporate Finance Department |
|
PARISH OF ST. JAMES, STATE OF LOUISIANA
|
|
|
|
|
|
By: |
|
Parish President
|
ATTEST: | ||
[SEAL] | ||
By | ||
Secretary, Parish Counsel
|
U.S. BANK NATIONAL ASSOCIATION
|
||
By: | ||
Authorized Officer
|
Maturity Date:
|
CUSIP No.
|
|
Dated Date:
|
||
Registered Owner: Cede & Co. (Tax Identification #13-2555119)
|
||
Type of Interest Period:
|
||
Principal Amount:
|
TYPE OF
INTEREST PERIOD
|
ACCRUAL
PERIOD1
|
INTEREST
PAYMENT DATE
|
RECORD DATE
|
||
Daily
|
Calendar Month
|
Fifth Business Day of the next month
|
Last Business Day the Accrual Period
|
||
Weekly
|
First Wednesday of each month through the first Tuesday of the next succeeding month
|
First Wednesday of each month
|
Last Business Day before Interest Payment Date
|
||
Commercial Paper
|
From 1 to 270 days as determined for each Bond pursuant to the Indenture (“Calculation Period”)
|
First day following Calculation Period
|
Last Business Day before Interest Payment Date
|
||
Long Term
|
Six-month period or portion thereof beginning on the Conversion Date and ending on the last day of the sixth calendar month following (and including) the month in which the Conversion Date occurs and each six-month period thereafter
|
First day of the seventh calendar month following (and including) the month in which the Conversion Date occurs and the first day of every sixth month thereafter
|
Fifteenth of the month before the Interest Payment Date
|
11
|
If the Conversion Date does not coincide with the first day of the Accrual Period for the new Interest Period, then the first day of such Accrual Period shall be the
Conversion Date, but all other terms and conditions shall be as set forth in the above Table.
|
Redemption Dates
|
Redemption Prices
|
First Optional Redemption Date through
(and including) the day immediately preceding the first anniversary of the First Optional Redemption Date |
102%
|
First anniversary of the First Optional Redemption Date through (and including) the day immediately preceding the second anniversary of the First Optional Redemption Date
|
101%
|
Second anniversary of the First Optional Redemption Date and thereafter
|
100%
|
|
Parish of St. James, State of Louisiana | |
|
|
|
|
By: |
|
Parish President
|
ATTEST: | ||
[SEAL] | ||
By
|
||
Secretary, Parish Counsel
|
|
U.S. BANK NATIONAL ASSOCIATION,
|
|
|
as Trustee
|
|
|
|
|
By: | ||
Authorized Signatory |
|
|
|
|
Secretary, Parish Council
|
|
|
||
(Authorized Officer)
Signature must be guaranteed by an intuition which is a participant in the Securities Transfer Agent Medallion Program (STAMP) or similar program |
NOTICE: The signature to this assignment must correspond with the name as it appears upon the face of the within Bond in every particular, without Bond in every particular, without alteration or enlargement or any change whatever.
|
|
U.S. BANK NATIONAL ASSOCIATION, as Trustee
|
|
|
|
|
|
By: |
|
Title: |
COSTS OF ISSUANCE
|
||||
Louisiana State Bond Commission
Baton Rouge, Louisiana |
$
|
54,500.00
|
||
Parish of St. James, State of Louisiana
Vacherie, Louisiana |
$
|
0.00
|
||
Bruce G. Mohon, Counsel to the Issuer
Gramercy, Louisiana |
$
|
10,000.00
|
||
Adams and Reese LLP, Co-Company Counsel
Andrews Kurth LLP, Co-Company Counsel |
$
|
60,000.00
|
||
Foley & Judell, L.L.P., Bond Counsel
New Orleans, Louisiana |
$
|
75,890.00
|
||
Gregory A. Pletsch & Associates, Trustee Counsel
Baton Rouge, Louisiana |
$
|
5,000.00
|
||
JP Morgan Chase Bank, N.A., Letter of Credit Bank
Houston, Texas |
$
|
0.00
|
||
Vinson & Elkins, L.L.P., Letter of Credit Bank Counsel
Houston, Texas |
$
|
27,384.50
|
||
U.S. Bank National Association, Trustee
Atlanta, Georgia |
$
|
5,000.00
|
||
SunTrust Robinson Humphrey Inc., Underwriter
Atlanta, Georgia |
$
|
305,399.00
|
||
Hunton & Williams, LLP, Underwriter Counsel
McClean, VA |
$
|
17,500.00
|
||
Moody’s Investors Service, Inc.
New York, New York |
$
|
20,500.00
|
||
TOTAL
|
$
|
581,173.50
|
|
NUSTAR LOGISTICS, L.P. | |
|
|
|
|
By: |
|
Company Representative
|
ARTICLE I
|
||
DEFINITIONS AND RULES OF CONSTRUCTION
|
||
SECTION 1.01.
|
Definitions.
|
2
|
ARTICLE II
|
||
AMENDMENT TO GRANTING CLAUSES OF TRUST ESTATE
|
||
SECTION 2.01.
|
Granting Clauses.
|
3
|
ARTICLE III
|
||
AMENDMENT TO ARTICLE II OF THE ORIGINAL INDENTURE
|
||
SECTION 3.01.
|
Issuance and Terms of Bonds.
|
4
|
ARTICLE IV
|
||
AMENDMENT TO ARTICLE III OF THE ORIGINAL INDENTURE
|
||
SECTION 4.01.
|
Extraordinary Redemption.
|
5
|
SECTION 4.02.
|
Optional Redemption by the Company.
|
5
|
SECTION 4.03.
|
Partial Redemption of Bonds.
|
5
|
SECTION 4.04.
|
Additional Section in Article III.
|
5
|
ARTICLE V
|
||
AMENDMENT TO ARTICLE IV OF THE ORIGINAL INDENTURE
|
||
SECTION 5.01.
|
Mandatory Purchase of Bonds on Mandatory Purchase Date.
|
6
|
SECTION 5.02.
|
Funds for Purchase of Bonds.
|
7
|
ARTICLE VI
|
||
AMENDMENT TO ARTICLE V OF THE ORIGINAL INDENTURE
|
||
SECTION 6.01.
|
Additional Sections in Article V.
|
7
|
ARTICLE VII
|
||
AMENDMENT TO ARTICLE VI OF THE ORIGINAL INDENTURE
|
||
SECTION 7.01.
|
Additional Section in Article VI.
|
8
|
ARTICLE VIII
|
||
AMENDMENT TO ARTICLE XIII OF THE ORIGINAL INDENTURE
|
||
SECTION 8.01.
|
Notices.
|
8
|
ARTICLE IX
|
||
AMENDMENT TO ARTICLE X OF THE ORIGINAL INDENTURE
|
||
SECTION 9.01.
|
Successor Remarketing Agent.
|
8
|
ARTICLE X
|
||
REPLACEMENT BOND
|
||
SECTION 10.01.
|
Replacement Bond.
|
9
|
ARTICLE XI
|
||
MISCELLANEOUS
|
||
SECTION 11.01.
|
Ratification and Confirmation.
|
9
|
SECTION 11.02.
|
Representations and Warranties of the Issuer.
|
9
|
SECTION 11.03.
|
Execution and Counterparts.
|
9
|
SECTION 11.04.
|
Applicable Law.
|
10
|
SECTION 11.05.
|
Interdependence with the Original Indenture.
|
10
|
SECTION 11.06.
|
Severability.
|
10
|
SECTION 11.07.
|
Dating.
|
10
|
SECTION 11.08.
|
Agreement.
|
10
|
If to the Company:
|
NuStar Logistics, L.P.
|
|
19003 IH-10 West
|
||
San Antonio, Texas 78257
|
||
Attention: Christopher C. Russell
|
||
Telecopier: (210) 918-5758
|
||
If to the Remarketing Agent:
|
Address to be furnished when appointed
|
PARISH OF ST. JAMES, STATE OF LOUISIANA
|
||||
By:
|
||||
Parish President
|
||||
ATTEST:
|
||||
By:
|
||||
Secretary, Parish Council
|
||||
(SEAL)
|
||||
U.S. BANK NATIONAL ASSOCIATION
|
||||
By:
|
||||
Authorized Officer
|
ARTICLE I
|
||
DEFINITIONS AND RULES OF CONSTRUCTION
|
||
SECTION 1.01.
|
Definitions.
|
2
|
ARTICLE II
|
||
AMENDMENT TO ARTICLE VI OF THE ORIGINAL AGREEMENT
|
||
SECTION 2.01.
|
Amendment to Section 6.08.
|
2
|
SECTION 2.02.
|
Additional Covenants.
|
2
|
ARTICLE III
|
||
AMENDMENT TO ARTICLE IX OF THE ORIGINAL AGREEMENT
|
||
SECTION 3.01.
|
Notices.
|
2
|
ARTICLE IV
|
||
MISCELLANEOUS
|
||
SECTION 4.01.
|
Ratification and Confirmation.
|
3
|
SECTION 4.02.
|
Representations and Warranties of the Issuer.
|
3
|
SECTION 4.03.
|
Execution and Counterparts.
|
3
|
SECTION 4.04.
|
Applicable Law.
|
3
|
SECTION 4.05.
|
Interdependence with the Original Agreement.
|
3
|
SECTION 4.06.
|
Severability.
|
3
|
SECTION 4.07.
|
Dating.
|
3
|
SECTION 4.08.
|
Indenture.
|
4 |
SECTION 4.09.
|
Consent of Company.
|
4
|
EXHIBIT A – GUARANTEES AND ADDITIONAL COVENANTS
|
EXHIBIT B – ORIGINAL INDENTURE
|
EXHIBIT C – FIRST SUPPLEMENTAL INDENTURE
|
If to the Company:
|
NuStar Logistics, L.P.
|
19003 IH-10 West
|
|
San Antonio, Texas 78257
|
|
Attention: Christopher C. Russell
|
|
Telecopier: (210) 918-5758
|
If to the Guarantors:
|
NuStar Energy L.P.
|
19003 IH-10 West
|
|
San Antonio, Texas 78257
|
|
Attention: Christopher C. Russell
|
|
Telecopier: (210) 918-5758
|
|
NuStar Pipeline Operating Partnership L.P.
|
|
19003 IH-10 West
|
|
San Antonio, Texas 78257
|
|
Attention: Christopher C. Russell
|
|
Telecopier: (210) 918-5758
|
|
|
PARISH OF ST. JAMES, STATE OF LOUISIANA
|
||
|
|
|||
|
|
By:
|
/s/ Peter A. Dufresne
|
|
|
|
Parish President
|
||
ATTEST:
|
|
|
|
|
|
|
|
||
By:
|
/s/ Linda Hubbell
|
|
|
|
Secretary, Parish Council
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(SEAL)
|
NUSTAR LOGISTICS, L.P.
|
||
By: NuStar GP, Inc., its general partner
|
||
By:
|
/s/ Thomas R. Shoaf
|
|
Name:
|
Thomas R. Shoaf
|
|
Title:
|
Executive Vice President and Chief Financial Officer
|
NUSTAR ENERGY L.P.
|
||
By: Riverwalk Logistics, L.P., its general partner
|
||
By: NuStar GP, LLC, its general partner
|
||
By:
|
/s/ Thomas R. Shoaf
|
|
Name:
|
Thomas R. Shoaf
|
|
Title:
|
Executive Vice President and Chief Financial Officer
|
|
NUSTAR PIPELINE OPERATING PARTNERSHIP L.P.
|
||
By: NuStar Pipeline Company, LLC, its general partner
|
||
By:
|
/s/ Thomas R. Shoaf
|
|
Name:
|
Thomas R. Shoaf
|
|
Title:
|
Executive Vice President and Chief Financial Officer
|
ARTICLE I
|
||
DEFINITIONS
|
||
SECTION 1.01.
|
Definitions
|
- 4 -
|
SECTION 1.02.
|
Uses of Phrases
|
- 9 -
|
ARTICLE II
|
||
THE BONDS
|
||
SECTION 2.01.
|
Authorized Amount of Bonds
|
- 10 -
|
SECTION 2.02.
|
Issuance and Term of Bonds
|
- 10 -
|
SECTION 2.03.
|
Daily Period
|
- 10 -
|
SECTION 2.04.
|
Weekly Period
|
- 10 -
|
SECTION 2.05.
|
Commercial Paper Period
|
- 11 -
|
SECTION 2.06.
|
Long Term Period
|
- 12 -
|
SECTION 2.07.
|
Conversion Option
|
- 13 -
|
SECTION 2.08.
|
Execution; Limited Obligations
|
- 14 -
|
SECTION 2.09.
|
Authentication
|
- 14 -
|
SECTION 2.10.
|
Form of Bonds
|
- 14 -
|
SECTION 2.11.
|
Authentication and Delivery of Bonds
|
- 14 -
|
SECTION 2.12.
|
Mutilated, Lost, Stolen or Destroyed Bonds
|
- 15 -
|
SECTION 2.13.
|
Transfer of Bonds; Persons Treated as Owners
|
- 15 -
|
SECTION 2.14.
|
Destruction of Bonds
|
- 16 -
|
SECTION 2.15.
|
Temporary Bonds
|
- 16 -
|
SECTION 2.16.
|
Book-Entry System
|
- 17 -
|
ARTICLE III
|
||
REDEMPTION OF BONDS BEFORE MATURITY
|
||
SECTION 3.01.
|
Extraordinary Redemption
|
- 19 -
|
SECTION 3.02.
|
Optional Redemption by the Company
|
- 19 -
|
SECTION 3.03.
|
Notice of Redemption
|
- 19 -
|
SECTION 3.04.
|
Redemption Payments
|
- 20 -
|
SECTION 3.05.
|
Cancellation
|
- 20 -
|
SECTION 3.06.
|
Partial Redemption of Bonds
|
- 20 -
|
ARTICLE IV
|
||
MANDATORY PURCHASE DATE; DEMAND PURCHASE OPTION
|
||
SECTION 4.01.
|
Mandatory Purchase of Bonds on Mandatory Purchase Date
|
- 22 -
|
SECTION 4.02.
|
Demand Purchase Option
|
- 22 -
|
SECTION 4.03.
|
Funds for Purchase of Bonds
|
- 23 -
|
SECTION 4.04.
|
Delivery of Purchased Bonds
|
- 23 -
|
SECTION 4.05.
|
Delivery of Proceeds of Sale of Purchased Bonds
|
- 24 -
|
SECTION 4.06.
|
Duties of Trustee With Respect to Purchase of Bonds
|
- 24 -
|
SECTION 4.07.
|
Remarketing of Bonds
|
- 25 -
|
ARTICLE V
|
||
GENERAL COVENANTS
|
||
SECTION 5.01.
|
Payment of Principal, Premium, if any, and Interest
|
- 26 -
|
SECTION 5.02.
|
Performance of Covenants
|
- 26 -
|
SECTION 5.03.
|
Instruments of Further Assurance
|
- 26 -
|
SECTION 5.04.
|
Recording and Filing
|
- 27 -
|
SECTION 5.05.
|
Inspection of Books
|
- 27 -
|
SECTION 5.06.
|
List of Owners of Bonds
|
- 27 -
|
SECTION 5.07.
|
Rights Under Agreement
|
- 27 -
|
SECTION 5.08.
|
[Reserved]
|
- 27 -
|
SECTION 5.09.
|
Undertaking to Provide Ongoing Disclosure
|
- 27 -
|
SECTION 5.10.
|
Notice of Control
|
- 27 -
|
ARTICLE VI
|
||
REVENUES AND FUNDS
|
||
SECTION 6.01.
|
Creation of Bond Fund
|
- 28 -
|
SECTION 6.02.
|
Payments into the Bond Fund
|
- 28 -
|
SECTION 6.03.
|
Use of Moneys in the Bond Fund
|
- 28 -
|
SECTION 6.04.
|
Payment of Bonds with Proceeds of Refunding Bonds
|
- 28 -
|
SECTION 6.05.
|
Project Fund
|
- 29 -
|
SECTION 6.06.
|
Payments into the Project Fund; Disbursements
|
- 29 -
|
SECTION 6.07.
|
Use of Moneys in the Project Fund Upon Default
|
- 29 -
|
SECTION 6.08.
|
Completion of the Project
|
- 29 -
|
SECTION 6.09.
|
Nonpresentment of Bonds
|
- 29 -
|
SECTION 6.10.
|
Moneys to be Held in Trust
|
- 30 -
|
SECTION 6.11.
|
Repayment to the Credit Provider and the Company from the Bond Fund or the Project Fund
|
- 30 -
|
SECTION 6.12.
|
Credit Facility
|
- 30 -
|
SECTION 6.13.
|
Creation of Rebate Fund; Duties of Trustee; Amounts Held in Rebate Fund
|
- 31 -
|
ARTICLE VII
|
||
INVESTMENT OF MONEYS
|
||
SECTION 7.01.
|
Investment of Moneys
|
- 32 -
|
ARTICLE VIII
|
||
DISCHARGE OF INDENTURE
|
||
SECTION 8.01.
|
Discharge of Indenture
|
- 35 -
|
SECTION 8.02.
|
Defeasance of Bonds
|
- 35 -
|
ARTICLE IX
|
||
DEFAULTS AND REMEDIES
|
||
SECTION 9.01.
|
Defaults
|
- 37 -
|
SECTION 9.02.
|
Acceleration
|
- 37 -
|
SECTION 9.03.
|
Other Remedies; Rights of Owners of Bonds
|
- 37 -
|
SECTION 9.04.
|
Right of Owners of Bonds to Direct Proceedings
|
- 38 -
|
SECTION 9.05.
|
Appointment of Receivers
|
- 38 -
|
SECTION 9.06.
|
Waiver
|
- 38 -
|
SECTION 9.07.
|
Application of Moneys
|
- 39 -
|
SECTION 9.08.
|
Remedies Vested in Trustee
|
- 40 -
|
SECTION 9.09.
|
Rights and Remedies of Owners of Bonds
|
- 40 -
|
SECTION 9.10.
|
Termination of Proceedings
|
- 41 -
|
SECTION 9.11.
|
Waivers of Default
|
- 41 -
|
SECTION 9.12.
|
Notice of Defaults under Section 9.01(e) or (f); Opportunity to Cure Such Defaults
|
- 42 -
|
SECTION 9.13.
|
Subrogation Rights of Credit Provider
|
- 42 -
|
ARTICLE X
|
||
TRUSTEE
|
||
SECTION 10.01.
|
Acceptance of Trusts
|
- 43 -
|
SECTION 10.02.
|
Fees, Charges and Expenses of the Trustee
|
- 46 -
|
SECTION 10.03.
|
Notice to Owners of Bonds if Default Occurs
|
- 46 -
|
SECTION 10.04.
|
Intervention by the Trustee
|
- 46 -
|
SECTION 10.05.
|
Successor Trustee
|
- 46 -
|
SECTION 10.06.
|
Resignation by the Trustee
|
- 47 -
|
SECTION 10.07.
|
Removal of the Trustee
|
- 47 -
|
SECTION 10.08.
|
Appointment of Successor Trustee by Owners of Bonds
|
- 47 -
|
SECTION 10.09.
|
Acceptance by Successor Trustee
|
- 47 -
|
SECTION 10.10.
|
Appointment of Co-Trustee
|
- 48 -
|
SECTION 10.11.
|
Successor Remarketing Agent
|
- 48 -
|
SECTION 10.12.
|
Notice of Rating Agencies
|
- 49 -
|
ARTICLE XI
|
||
SUPPLEMENTAL INDENTURES
|
||
SECTION 11.01.
|
Supplemental Indentures Not Requiring Consent of Owners of Bonds
|
- 50 -
|
SECTION 11.02.
|
Supplemental Indentures Requiring Consent of Owners of Bonds
|
- 51 -
|
SECTION 11.03.
|
Consent of the Company
|
- 52 -
|
SECTION 11.04.
|
Execution of Amendments and Supplements by Trustee
|
- 52 -
|
ARTICLE XII
|
||
AMENDMENT OF AGREEMENT
|
||
SECTION 12.01.
|
Amendments to Agreement Not Requiring Consent of Owners of Bonds
|
- 53 -
|
SECTION 12.02.
|
Amendments to Agreement Requiring Consent of Owners of Bonds
|
- 53 -
|
ARTICLE XIII
|
||
MISCELLANEOUS
|
||
SECTION 13.01.
|
Consents of Owners of Bonds
|
- 54 -
|
SECTION 13.02.
|
Limitation of Rights
|
- 54 -
|
SECTION 13.03.
|
Severability
|
- 54 -
|
SECTION 13.04.
|
Notices
|
- 54 -
|
SECTION 13.05.
|
Payments Due on Saturdays, Sundays and Holidays
|
- 56 -
|
SECTION 13.06.
|
Counterparts
|
- 56 -
|
SECTION 13.07.
|
Applicable Provisions of Law
|
- 56 -
|
SECTION 13.08.
|
Rules of Interpretation
|
- 56 -
|
SECTION 13.09.
|
Captions
|
- 56 -
|
SECTION 13.10.
|
No Personal Liability
|
- 56 -
|
SECTION 13.11.
|
Certain References Ineffective Except During a Credit Facility Period
|
- 57 -
|
EXHIBIT A
|
Form of Bonds
|
EXHIBIT B
|
Form of Notice from Trustee to Owner Regarding Mandatory Purchase Date
|
EXHIBIT C
|
Costs of Issuance
|
EXHIBIT D
|
Form of Completion Certificate
|
Issuer:
|
Parish of St. James, State of Louisiana
|
|
P.O. Box 176
|
|
Vacherie, Louisiana 70090
|
|
Attention: Parish President
|
Trustee:
|
U.S. Bank National Association
|
|
1349 West Peachtree, NW
|
|
Two Midtown Plaza, Suite 1050
|
|
Atlanta, Georgia 30309
|
|
Attention: Corporate Trust Division
|
Company:
|
NuStar Logistics, L.P.
|
|
2330 North Loop 1604 West
|
|
San Antonio, TX 78248
|
|
Attention: Chief Financial Officer
|
|
|
Credit Provider:
|
JPMorgan Chase Bank, N.A.
|
|
Loan and Agency Services Group
|
|
1111 Fannin, 8th Floor
|
|
Houston, TX 77002
|
|
Attention: Maria Arreola
|
|
JPMorgan Chase Bank, N.A.
|
|
300 South Riverside Plaza
|
|
Mail Code IL1-0236
|
|
Standby Letter of Credit Unit
|
|
Chicago, IL 60606-0236
|
|
Attention: Standby Service Unit
|
|
|
Remarketing Agent:
|
SunTrust Robinson Humphrey, Inc.
|
|
3333 Peachtree Road, 11th Floor
|
|
Atlanta, Georgia 30326
|
|
Attention: Municipal Desk
|
|
Fitch:
|
|
|
Moody’s:
|
Fitch, Inc.
|
|
One State Street Plaza
|
|
New York, New York 10004
|
|
Attention: Structured Finance
|
|
|
|
Moody’s Investors Service, Inc.
|
|
99 Church Street
|
|
New York, New York 10007
|
|
Attention: Corporate Department, Structured Finance Group
|
|
|
S&P:
|
Standard & Poor’s Ratings Services,
|
|
a Standard & Poor’s Financial Services LLC business
|
|
55 Water Street
|
|
New York, New York 10041
|
|
Attention: Corporate Finance Department
|
|
PARISH OF ST. JAMES, STATE OF LOUISIANA
|
||
|
|
||
|
By:
|
|
|
|
|
Parish President
|
|
ATTEST:
|
|
|
|
By:
|
|
|
[SEAL]
|
|
Secretary, Parish Council
|
|
|
|
|
U.S. BANK NATIONAL ASSOCIATION
|
|
|
|
|
|
|
|
By:
|
|
|
|
|
Authorized Officer
|
No. _____
|
$__________
|
Maturity Date: | CUSIP No. __________ |
TYPE OF
INTEREST PERIOD
|
|
ACCRUAL
PERIOD1
|
|
INTEREST
PAYMENT DATE
|
|
RECORD
DATE
|
Daily
|
|
Calendar Month
|
|
Fifth Business Day of the next month
|
|
Last Business Day of the Accrual Period
|
Weekly
|
|
First Wednesday of each month through the first Tuesday of the next succeeding month
|
|
First Wednesday of each month
|
|
Last Business Day before Interest Payment Date
|
Commercial Paper
|
|
From 1 to 270 days as determined for each Bond pursuant to the Indenture (“Calculation Period”)
|
|
First day following Calculation Period
|
|
Last Business Day before Interest Payment Date
|
Long Term
|
|
Six-month period or portion thereof beginning on the Conversion Date and ending on the last day of the sixth calendar month following (and including) the month in which the Conversion Date occurs and each six-month period thereafter
|
|
First day of the seventh calendar month following (and including) the month in which the Conversion Date occurs and the first day of every sixth month thereafter
|
|
Fifteenth of the month before the Interest Payment Date
|
|
The Parish of St. James, State of Louisiana
|
|
|
||
|
By:
|
|
|
Parish President
|
|
ATTEST:
|
|
|
By:
|
|
|
|
Secretary, Parish Council
|
[SEAL]
|
|
U.S. BANK NATIONAL ASSOCIATION,
|
|
|
as Trustee
|
|
|
|
|
|
By:
|
|
|
|
Authorized Signatory
|
|
|
|
|
Secretary, Parish Council |
|
Dated: |
|
|
|
||
Signature Guarantee
|
|
|
|
|
(Authorized Officer)
Signature must be guaranteed
by an institution which is a
participant in the Securities
Transfer Agent Medallion
Program (STAMP) or similar
program.
|
|
NOTICE: The signature to this
assignment must correspond with
the name as it appears upon the
face of the within Bond in every
particular, without alteration or
enlargement or any change
whatever.
|
|
|
U.S. BANK NATIONAL ASSOCIATION,
|
|
|
as Trustee
|
|
|
|
|
|
By:
|
|
|
Title:
|
|
Louisiana State Bond Commission
|
$89,500
|
Baton Rouge, Louisiana
|
|
|
|
Parish of St. James, State of Louisiana
|
0
|
Vacherie, Louisiana
|
|
|
|
Bruce G. Mohon, Counsel to the Issuer
|
10,000
|
Gramercy, Louisiana
|
|
|
|
Adams and Reese LLP, Company Counsel
|
60,000
|
New Orleans, Louisiana
|
|
|
|
Foley & Judell, L.L.P., Bond Counsel
|
95,900
|
New Orleans, Louisiana
|
|
|
|
Gregory A. Pletsch & Associates, Trustee Counsel
|
5,000
|
Baton Rouge, Louisiana
|
|
|
|
JP Morgan Chase Bank, N.A., Letter of Credit Bank
|
0
|
Houston, Texas
|
|
|
|
Vinson & Elkins, L.L.P., Letter of Credit Bank Counsel
|
14,981.25
|
Houston, Texas
|
|
|
|
U.S. Bank National Association, Trustee
|
4,500
|
Atlanta, Georgia
|
|
|
|
SunTrust Robinson Humphrey Inc., Underwriter
|
518,889
|
Atlanta, Georgia
|
|
|
|
Hunton & Williams, LLP, Underwriter Counsel
|
13,500
|
McLean, Virginia
|
|
|
|
Moody’s Investors Service, Inc.
|
23,120
|
New York, New York
|
|
|
|
TOTAL
|
$835,390.25
|
|
NUSTAR LOGISTICS, L.P.
|
|
|
|
|
|
By:
|
|
|
|
Company Representative
|
ARTICLE I
|
||
DEFINITIONS AND RULES OF CONSTRUCTION
|
||
SECTION 1.01.
|
Definitions.
|
2
|
ARTICLE II
|
||
AMENDMENT TO GRANTING CLAUSES OF TRUST ESTATE
|
||
SECTION 2.01.
|
Granting Clauses.
|
3
|
ARTICLE III
|
||
AMENDMENT TO ARTICLE II OF THE ORIGINAL INDENTURE
|
||
SECTION 3.01.
|
Issuance and Terms of Bonds.
|
4
|
SECTION 3.02.
|
Conversion Option.
|
5
|
ARTICLE IV
|
||
AMENDMENT TO ARTICLE III OF THE ORIGINAL INDENTURE
|
||
SECTION 4.01.
|
Extraordinary Redemption.
|
5
|
SECTION 4.02.
|
Optional Redemption by the Company.
|
5
|
SECTION 4.03.
|
Partial Redemption of Bonds.
|
5
|
SECTION 4.04.
|
Additional Section in Article III.
|
6
|
ARTICLE V
|
||
AMENDMENT TO ARTICLE IV OF THE ORIGINAL INDENTURE
|
||
SECTION 5.01.
|
Mandatory Purchase of Bonds on Mandatory Purchase Date.
|
6
|
SECTION 5.02.
|
Funds for Purchase of Bonds.
|
7
|
ARTICLE VI
|
||
AMENDMENT TO ARTICLE V OF THE ORIGINAL INDENTURE
|
||
SECTION 6.01.
|
Additional Sections in Article V.
|
8
|
ARTICLE VII
|
||
AMENDMENT TO ARTICLE VI OF THE ORIGINAL INDENTURE
|
||
SECTION 7.01.
|
Additional Section in Article VI.
|
8
|
ARTICLE VIII
|
||
AMENDMENT TO ARTICLE XIII OF THE ORIGINAL INDENTURE
|
||
SECTION 8.01.
|
Notices.
|
8
|
ARTICLE IX
|
||
AMENDMENT TO ARTICLE X OF THE ORIGINAL INDENTURE
|
||
SECTION 9.01.
|
Successor Remarketing Agent.
|
9
|
ARTICLE X
|
||
REPLACEMENT BOND
|
||
SECTION 10.01.
|
Replacement Bond.
|
9
|
ARTICLE XI
|
||
MISCELLANEOUS
|
||
SECTION 11.01.
|
Ratification and Confirmation.
|
10
|
SECTION 11.02.
|
Representations and Warranties of the Issuer.
|
10
|
SECTION 11.03.
|
Execution and Counterparts.
|
10
|
SECTION 11.04.
|
Applicable Law.
|
10
|
SECTION 11.05.
|
Interdependence with the Original Indenture.
|
10
|
SECTION 11.06.
|
Severability.
|
10
|
SECTION 11.07.
|
Dating.
|
10
|
SECTION 11.08.
|
Agreement.
|
10
|
EXHIBIT A – FORM OF BOND
|
If to the Company:
|
NuStar Logistics, L.P.
|
19003 IH-10 West
|
|
San Antonio, Texas 78257
|
|
Attention: Christopher C. Russell
|
|
Telecopier: (210) 918-5758
|
|
If to the Remarketing Agent:
|
Address to be furnished when appointed
|
|
|
PARISH OF ST. JAMES, STATE OF
|
||
|
|
LOUISIANA
|
||
|
|
|
|
|
|
|
By:
|
|
|
|
|
|
Parish President
|
|
ATTEST:
|
|
|
|
|
|
|
|
|
|
By:
|
|
|
|
|
|
Secretary, Parish Council
|
|
|
|
|
|
|
(SEAL)
|
|
U.S. BANK NATIONAL ASSOCIATION
|
|
|
|
|
|
By:
|
|
|
|
Authorized Officer
|
ARTICLE I
|
||
DEFINITIONS AND RULES OF CONSTRUCTION
|
||
SECTION 1.01.
|
Definitions.
|
2
|
ARTICLE II
|
||
AMENDMENT TO ARTICLE VI OF THE ORIGINAL AGREEMENT
|
||
SECTION 2.01.
|
Amendment to Section 6.08.
|
2
|
SECTION 2.02.
|
Additional Covenants.
|
2
|
ARTICLE III
|
||
AMENDMENT TO ARTICLE IX OF THE ORIGINAL AGREEMENT
|
||
SECTION 3.01.
|
Notices.
|
2
|
ARTICLE IV
|
||
MISCELLANEOUS
|
||
SECTION 4.01.
|
Ratification and Confirmation.
|
3
|
SECTION 4.02.
|
Representations and Warranties of the Issuer.
|
3
|
SECTION 4.03.
|
Execution and Counterparts.
|
3
|
SECTION 4.04.
|
Applicable Law.
|
3
|
SECTION 4.05.
|
Interdependence with the Original Agreement.
|
3
|
SECTION 4.06.
|
Severability.
|
3
|
SECTION 4.07.
|
Dating.
|
3
|
SECTION 4.08.
|
Indenture.
|
3
|
SECTION 4.09.
|
Consent of Company.
|
4
|
EXHIBIT A – GUARANTEES AND ADDITIONAL COVENANTS
|
||
EXHIBIT B – ORIGINAL INDENTURE
|
||
EXHIBIT C – FIRST SUPPLEMENTAL INDENTURE
|
If to the Company:
|
NuStar Logistics, L.P.
|
19003 IH-10 West
|
|
San Antonio, Texas 78257
|
|
Attention: Christopher C. Russell
|
|
Telecopier: (210) 918-5758
|
If to the Guarantors:
|
NuStar Energy L.P.
|
19003 IH-10 West
|
|
San Antonio, Texas 78257
|
|
Attention: Christopher C. Russell
|
|
Telecopier: (210) 918-5758
|
|
NuStar Pipeline Operating Partnership L.P.
|
|
19003 IH-10 West
|
|
San Antonio, Texas 78257
|
|
Attention: Christopher C. Russell
|
|
Telecopier: (210) 918-5758
|
PARISH OF ST. JAMES, STATE OF LOUISIANA
|
||
By:
|
/s/ Peter A. Dufresne | |
Parish President
|
ATTEST:
|
|||
By:
|
/s/ Linda Hubbell | ||
Secretary, Parish Council
|
NUSTAR LOGISTICS, L.P.
|
||
By: NuStar GP, Inc., its general partner
|
||
By:
|
/s/ Thomas R. Shoaf
|
|
Name:
|
Thomas R. Shoaf
|
|
Title:
|
Executive Vice President and Chief Financial Officer
|
NUSTAR ENERGY L.P.
|
|||
By: Riverwalk Logistics, L.P., its general partner
|
|||
By: NuStar GP, LLC, its general partner
|
|||
By:
|
/s/ Thomas R. Shoaf
|
||
Name:
|
Thomas R. Shoaf
|
||
Title:
|
Executive Vice President and Chief Financial Officer
|
||
NUSTAR PIPELINE OPERATING PARTNERSHIP L.P.
|
|||
By: NuStar Pipeline Company, LLC, its general partner
|
|||
By:
|
/s/ Thomas R. Shoaf
|
||
Name:
|
Thomas R. Shoaf
|
||
Title: |
Executive Vice President and Chief Financial Officer
|
Section 1.
|
Definitions.
|
Section 2.
|
Unconditional Guarantees.
|
Section 3.
|
Covenants.
|
ARTICLE I
|
||
DEFINITIONS
|
||
SECTION 1.01.
|
Definitions
|
4
|
SECTION 1.02.
|
Uses of Phrases
|
9
|
ARTICLE II
|
||
THE BONDS
|
||
SECTION 2.01.
|
Authorized Amount of Bonds
|
10
|
SECTION 2.02.
|
Issuance and Term of Bonds
|
10
|
SECTION 2.03.
|
Daily Period
|
10
|
SECTION 2.04.
|
Weekly Period
|
11
|
SECTION 2.05.
|
Commercial Paper Period
|
11
|
SECTION 2.06.
|
Long Term Period
|
12
|
SECTION 2.07.
|
Conversion Option
|
13
|
SECTION 2.08.
|
Execution; Limited Obligations
|
14
|
SECTION 2.09.
|
Authentication
|
14
|
SECTION 2.10.
|
Form of Bonds
|
14
|
SECTION 2.11.
|
Authentication and Delivery of Bonds
|
15
|
SECTION 2.12.
|
Mutilated, Lost, Stolen or Destroyed Bonds
|
15
|
SECTION 2.13.
|
Transfer of Bonds; Persons Treated as Owners
|
15
|
SECTION 2.14.
|
Destruction of Bonds
|
16
|
SECTION 2.15.
|
Temporary Bonds
|
16
|
SECTION 2.16.
|
Book-Entry System
|
17
|
ARTICLE III
|
||
REDEMPTION OF BONDS BEFORE MATURITY
|
||
SECTION 3.01.
|
Extraordinary Redemption
|
19
|
SECTION 3.02.
|
Optional Redemption by the Company
|
19
|
SECTION 3.03.
|
Notice of Redemption
|
19
|
SECTION 3.04.
|
Redemption Payments
|
20
|
SECTION 3.05.
|
Cancellation
|
20
|
SECTION 3.06.
|
Partial Redemption of Bonds
|
21
|
ARTICLE IV
|
||
MANDATORY PURCHASE DATE; DEMAND PURCHASE OPTION
|
||
SECTION 4.01.
|
Mandatory Purchase of Bonds on Mandatory Purchase Date
|
22
|
SECTION 4.02.
|
Demand Purchase Option
|
22
|
SECTION 4.03.
|
Funds for Purchase of Bonds
|
23
|
SECTION 4.04.
|
Delivery of Purchased Bonds
|
23
|
SECTION 4.05.
|
Delivery of Proceeds of Sale of Purchased Bonds
|
24
|
SECTION 4.06.
|
Duties of Trustee With Respect to Purchase of Bonds
|
24
|
SECTION 4.07.
|
Remarketing of Bonds
|
25
|
ARTICLE V
|
||
GENERAL COVENANTS
|
||
SECTION 5.01.
|
Payment of Principal, Premium, if any, and Interest
|
26
|
SECTION 5.02.
|
Performance of Covenants
|
26
|
SECTION 5.03.
|
Instruments of Further Assurance
|
26
|
SECTION 5.04.
|
Recording and Filing
|
27
|
SECTION 5.05.
|
Inspection of Books
|
27
|
SECTION 5.06.
|
List of Owners of Bonds
|
27
|
SECTION 5.07.
|
Rights Under Agreement
|
27
|
SECTION 5.08.
|
[Reserved]
|
27
|
SECTION 5.09.
|
Undertaking to Provide Ongoing Disclosure
|
27
|
SECTION 5.10.
|
Notice of Control
|
27
|
ARTICLE VI
|
||
REVENUES AND FUNDS
|
||
SECTION 6.01.
|
Creation of Bond Fund
|
28
|
SECTION 6.02.
|
Payments into the Bond Fund
|
28
|
SECTION 6.03.
|
Use of Moneys in the Bond Fund
|
28
|
SECTION 6.04.
|
Payment of Bonds with Proceeds of Refunding Bonds
|
28
|
SECTION 6.05.
|
Project Fund
|
29
|
SECTION 6.06.
|
Payments into the Project Fund; Disbursements
|
29
|
SECTION 6.07.
|
Use of Moneys in the Project Fund Upon Default
|
29
|
SECTION 6.08.
|
Completion of the Project
|
29
|
SECTION 6.09.
|
Nonpresentment of Bonds
|
29
|
SECTION 6.10.
|
Moneys to be Held in Trust
|
30
|
SECTION 6.11.
|
Repayment to the Credit Provider and the Company from the Bond Fund or the Project Fund
|
30
|
SECTION 6.12.
|
Credit Facility
|
30
|
SECTION 6.13.
|
Creation of Rebate Fund; Duties of Trustee; Amounts Held in Rebate Fund
|
31
|
ARTICLE VII
|
||
INVESTMENT OF MONEYS
|
||
SECTION 7.01.
|
Investment of Moneys
|
32
|
ARTICLE VIII
|
||
DISCHARGE OF INDENTURE
|
||
SECTION 8.01.
|
Discharge of Indenture
|
36
|
SECTION 8.02.
|
Defeasance of Bonds
|
36
|
ARTICLE IX
|
||
DEFAULTS AND REMEDIES
|
||
SECTION 9.01.
|
Defaults
|
38 |
SECTION 9.02.
|
Acceleration
|
38
|
SECTION 9.03.
|
Other Remedies; Rights of Owners of Bonds
|
38
|
SECTION 9.04.
|
Right of Owners of Bonds to Direct Proceedings
|
39 |
SECTION 9.05.
|
Appointment of Receivers
|
39 |
SECTION 9.06.
|
Waiver
|
39 |
SECTION 9.07.
|
Application of Moneys
|
40
|
SECTION 9.08.
|
Remedies Vested in Trustee
|
41 |
SECTION 9.09.
|
Rights and Remedies of Owners of Bonds
|
42
|
SECTION 9.10.
|
Termination of Proceedings
|
42 |
SECTION 9.11.
|
Waivers of Default
|
42 |
SECTION 9.12.
|
Notice of Defaults under Section 9.01(e) or (f); Opportunity to Cure Such Defaults
|
43 |
SECTION 9.13.
|
Subrogation Rights of Credit Provider
|
43 |
ARTICLE X
|
||
TRUSTEE
|
||
SECTION 10.01.
|
Acceptance of Trusts
|
44 |
SECTION 10.02.
|
Fees, Charges and Expenses of the Trustee
|
47 |
SECTION 10.03.
|
Notice to Owners of Bonds if Default Occurs
|
47 |
SECTION 10.04.
|
Intervention by the Trustee
|
47 |
SECTION 10.05.
|
Successor Trustee
|
47 |
SECTION 10.06.
|
Resignation by the Trustee
|
48 |
SECTION 10.07.
|
Removal of the Trustee
|
48 |
SECTION 10.08.
|
Appointment of Successor Trustee by Owners of Bonds
|
48 |
SECTION 10.09.
|
Acceptance by Successor Trustee
|
48 |
SECTION 10.10.
|
Appointment of Co-Trustee
|
49 |
SECTION 10.11.
|
Successor Remarketing Agent
|
49 |
SECTION 10.12.
|
Notice of Rating Agencies
|
50 |
Issuer:
|
Parish of St. James, State of Louisiana
|
P.O. Box 176
|
|
Vacherie, Louisiana 70090
|
|
Attention: Parish President
|
|
Trustee:
|
U.S. Bank National Association
|
1349 West Peachtree, NW
|
|
Two Midtown Plaza, Suite 1050
|
|
Atlanta, Georgia 30309
|
|
Attention: Corporate Trust Division
|
Company:
|
NuStar Logistics, L.P.
|
2330 North Loop 1604 West
|
|
San Antonio, TX 78248
|
|
Attention: Chief Financial Officer
|
Credit Provider:
|
Wells Fargo Bank, National Association
|
1000 Louisiana Street, 9th Floor
|
|
Houston, TX 77022
|
|
Attention: Christina Faith
|
Remarketing Agent:
|
SunTrust Robinson Humphrey, Inc.
|
3333 Peachtree Road, 11th Floor
|
|
Atlanta, Georgia 30326
|
|
Attention: Municipal Desk
|
Fitch:
|
Fitch, Inc.
|
One State Street Plaza
|
|
New York, New York 10004
|
|
Attention: Structured Finance
|
Moody’s:
|
Moody’s Investors Service, Inc.
|
99 Church Street
|
|
New York, New York 10007
|
|
Attention: Corporate Department, Structured Finance Group
|
S&P:
|
Standard & Poor’s Ratings Services,
|
a Standard & Poor’s Financial Services LLC business
|
|
55 Water Street
|
|
New York, New York 10041
|
|
Attention: Corporate Finance Department
|
|
PARISH OF ST. JAMES, STATE OF LOUISIANA
|
|
|
|
|
|
By:
|
|
Parish President
|
ATTEST:
|
||
By:
|
[SEAL]
|
|
Secretary, Parish Council
|
|
U.S. BANK NATIONAL ASSOCIATION
|
|
|
|
|
|
By:
|
|
Authorized Officer
|
No. ____
|
$________ |
Maturity Date:
|
CUSIP No.
|
TYPE OF
INTEREST PERIOD
|
ACCRUAL
PERIOD1
|
INTEREST
PAYMENT DATE
|
RECORD DATE
|
|||
Daily
|
Calendar Month
|
Fifth Business Day of the next month
|
Last Business Day of the Accrual Period
|
|||
Weekly
|
First Wednesday of each month through the first Tuesday of the next succeeding month
|
First Wednesday of each month
|
Last Business Day before Interest Payment Date
|
|||
Commercial Paper
|
From 1 to 270 days as determined for each Bond pursuant to the Indenture (“Calculation Period”)
|
First day following Calculation Period
|
Last Business Day before Interest Payment Date
|
|||
Long Term
|
Six-month period or portion thereof beginning on the Conversion Date and ending on the last day of the sixth calendar month following (and including) the month in which the Conversion Date occurs and each six‑month period thereafter
|
First day of the seventh calendar month following (and including) the month in which the Conversion Date occurs and the first day of every sixth month thereafter
|
Fifteenth of the month before the Interest Payment Date
|
|
Parish Of St. James, State of Louisiana
|
|
|
|
|
|
By:
|
|
Parish President
|
ATTEST:
|
||
By:
|
|
|
Secretary, Parish Council
|
[SEAL]
|
|
U.S. BANK NATIONAL ASSOCIATION, as Trustee
|
|
|
|
|
|
By:
|
|
Authorized Signatory
|
|
Secretary, Parish Council
|
Dated: |
|
|
(Authorized Officer)
Signature must be guaranteed by an institution which is a participant in the Securities Transfer Agent Medallion Program (STAMP) or similar program.
|
NOTICE: The signature to this assignment must correspond with the name as it appears upon the face of the within Bond in every particular, without alteration or enlargement or any change whatever.
|
|
|
U.S. BANK NATIONAL ASSOCIATION, as Trustee
|
|
|
|
|
|
By:
|
|
|
Title:
|
|
Louisiana State Bond Commission
Baton Rouge, Louisiana
|
$
|
79,500
|
||
Parish of St. James, State of Louisiana
Vacherie, Louisiana
|
0
|
|||
Bruce G. Mohon, Counsel to the Issuer
Gramercy, Louisiana
|
10,000
|
|||
Adams and Reese LLP, Company Counsel
New Orleans, Louisiana
|
60,000
|
|||
Foley & Judell, L.L.P., Bond Counsel
New Orleans, Louisiana
|
98,000
|
|||
Gregory A. Pletsch & Associates, Trustee Counsel
Baton Rouge, Louisiana
|
5,000
|
|||
Wells Fargo Bank, National Association, Letter of Credit Bank, Houston, Texas
|
0
|
|||
Chapman & Cutler LLP, Co-Letter of Credit Bank Counsel
Chicago, Illinois
|
25,000
|
|||
Hunton & Williams, LLP, Co-Letter of Credit Bank Counsel and Underwriter Counsel
McLean, Virginia
|
17,500
|
|||
U.S. Bank National Association, Trustee
Atlanta, Georgia
|
4,500
|
|||
SunTrust Robinson Humphrey Inc., Underwriter
Atlanta, Georgia
|
457,889
|
|||
Moody’s Investors Service, Inc.
New York, New York
|
18,638
|
|||
TOTAL
|
$
|
776,027
|
|
NUSTAR LOGISTICS, L.P.
|
|
|
|
|
|
By:
|
|
|
Company Representative
|
ARTICLE I
|
||
DEFINITIONS AND RULES OF CONSTRUCTION
|
||
SECTION 1.01.
|
Definitions.
|
2
|
ARTICLE II
|
||
AMENDMENT TO GRANTING CLAUSES OF TRUST ESTATE
|
||
SECTION 2.01.
|
Granting Clauses.
|
3
|
ARTICLE III
|
||
AMENDMENT TO ARTICLE II OF THE ORIGINAL INDENTURE
|
||
SECTION 3.01.
|
Issuance and Terms of Bonds.
|
4
|
SECTION 3.02.
|
Conversion Option.
|
5
|
ARTICLE IV
|
||
AMENDMENT TO ARTICLE III OF THE ORIGINAL INDENTURE
|
||
SECTION 4.01.
|
Extraordinary Redemption.
|
5
|
SECTION 4.02.
|
Optional Redemption by the Company.
|
5
|
SECTION 4.03.
|
Partial Redemption of Bonds.
|
5
|
SECTION 4.04.
|
Additional Section in Article III.
|
5 |
ARTICLE V
|
||
AMENDMENT TO ARTICLE IV OF THE ORIGINAL INDENTURE
|
||
SECTION 5.01.
|
Mandatory Purchase of Bonds on Mandatory Purchase Date.
|
6
|
SECTION 5.02.
|
Funds for Purchase of Bonds.
|
7
|
ARTICLE VI
|
||
AMENDMENT TO ARTICLE V OF THE ORIGINAL INDENTURE
|
||
SECTION 6.01.
|
Additional Sections in Article V.
|
8
|
ARTICLE VII
|
||
AMENDMENT TO ARTICLE VI OF THE ORIGINAL INDENTURE
|
||
SECTION 7.01.
|
Additional Section in Article VI.
|
8
|
ARTICLE VIII
|
||
AMENDMENT TO ARTICLE XIII OF THE ORIGINAL INDENTURE
|
||
SECTION 8.01.
|
Notices.
|
8
|
ARTICLE IX
|
||
AMENDMENT TO ARTICLE X OF THE ORIGINAL INDENTURE
|
||
SECTION 9.01.
|
Successor Remarketing Agent.
|
9
|
ARTICLE X
|
||
REPLACEMENT BOND
|
||
SECTION 10.01.
|
Replacement Bond.
|
9
|
ARTICLE XI
|
||
MISCELLANEOUS
|
||
SECTION 11.01.
|
Ratification and Confirmation.
|
9 |
SECTION 11.02.
|
Representations and Warranties of the Issuer.
|
10
|
SECTION 11.03.
|
Execution and Counterparts.
|
10
|
SECTION 11.04.
|
Applicable Law.
|
10
|
SECTION 11.05.
|
Interdependence with the Original Indenture.
|
10
|
SECTION 11.06.
|
Severability.
|
10
|
SECTION 11.07.
|
Dating.
|
10
|
SECTION 11.08.
|
Agreement.
|
10
|
EXHIBIT A – FORM OF BOND
|
If to the Company:
|
NuStar Logistics, L.P.
|
19003 IH-10 West
|
|
San Antonio, Texas 78257
|
|
Attention: Christopher C. Russell
|
|
Telecopier: (210) 918-5758
|
|
If to the Remarketing Agent:
|
Address to be furnished when appointed
|
|
PARISH OF ST. JAMES, STATE OF LOUISIANA
|
|
|
|
|
|
By:
|
|
Parish President
|
ATTEST:
|
|||
By:
|
|
||
Secretary, Parish Council
|
|
U.S. BANK NATIONAL ASSOCIATION
|
|
|
|
|
|
By:
|
|
Authorized Officer
|