As filed with the Securities and Exchange Commission on October 9, 2020
Registration No. 333-249180
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Amendment No. 1
to
FORM S-4
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
PBF HOLDING COMPANY LLC
PBF FINANCE CORPORATION
(Exact Name of Registrant as Specified in Its Charter)
Delaware | 2911 | 27-2198168 | ||
Delaware | 2911 | 45-2685067 | ||
(State or Other Jurisdiction | (Primary Standard Industrial | (I.R.S. Employer | ||
of Incorporation or Organization) | Classification Code Number) | Identification Number) |
One Sylvan Way, Second Floor
Parsippany, New Jersey 07054
Telephone: (973) 455-7500
(Address, Including Zip Code, and Telephone Number, Including Area Code, of Registrants Principal Executive Offices)
Trecia M. Canty
Senior Vice President, General Counsel and Secretary
PBF Holding Company LLC
One Sylvan Way, Second Floor
Parsippany, New Jersey 07054
Telephone: (973) 455-7500
(Name, Address, Including Zip Code, and Telephone Number, Including Area Code, of Agent For Service)
Copy to:
Douglas V. Getten
Andres C. Mena
Paul Hastings LLP
600 Travis Street, Suite 5800
Houston, TX 77002
Telephone: (713) 860-7300
Telecopy: (713) 353-3100
Approximate date of commencement of proposed sale of the securities to the public: As soon as practicable after the effective date of this Registration Statement.
If the securities being registered on this Form are being offered in connection with the formation of a holding company and there is compliance with General Instruction G, check the following box. ☐
If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of large accelerated filer, accelerated filer, smaller reporting company, and emerging growth company in Rule 12b-2 of the Exchange Act.
Large accelerated filer ☐ | Accelerated filer ☐ | Non-accelerated filer ☒ | Smaller reporting company ☐ | |||
Emerging growth company ☐ |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ☐
If applicable, place an X in the box to designate the appropriate rule provision relied upon in conducting this transaction:
Exchange Act Rule 13e-4(i) (Cross-Border Issue Tender Offer) ☐
Exchange Act Rule 14d-1(d) (Cross-Border Third-Party Tender Offer) ☐
The Registrants hereby amend this Registration Statement on such date or dates as may be necessary to delay its effective date until the Registrants shall file a further amendment which specifically states that this Registration Statement shall thereafter become effective in accordance with Section 8(a) of the Securities Act or until the Registration Statement shall become effective on such date as the Securities and Exchange Commission, acting pursuant to said Section 8(a), may determine.
TABLE OF ADDITIONAL REGISTRANT SUBSIDIARY GUARANTORS
Exact Name of Registrant Guarantor (1) |
State or Other Jurisdiction of Incorporation or Formation |
IRS Employer Identification Number |
||||||
Chalmette Refining, L.L.C. |
Delaware | 75-2717190 | ||||||
Delaware City Refining Company LLC |
Delaware | 27-2198373 | ||||||
Martinez Refining Company LLC |
Delaware | 84-2230960 | ||||||
Martinez Terminal Company LLC |
Delaware | 84-2598515 | ||||||
Paulsboro Refining Company LLC |
Delaware | 74-2881064 | ||||||
PBF Energy Western Region LLC |
Delaware | 35-2545521 | ||||||
PBF Investments LLC |
Delaware | 26-2050373 | ||||||
PBF Power Marketing LLC |
Delaware | 27-2198489 | ||||||
PBF Services Company LLC |
Delaware | 30-0644379 | ||||||
Toledo Refining Company LLC |
Delaware | 27-4158209 | ||||||
Torrance Refining Company LLC |
Delaware | 37-1795646 | ||||||
Torrance Logistics Company LLC |
Delaware | 38-3983432 |
(1) | The address for each Registrant Guarantor is One Sylvan Way, Second Floor, Parsippany, New Jersey 07054 and the telephone number for each registrant is (973) 455-7500. |
EXPLANATORY NOTE
This Amendment is being filed for the purposes of amending the Exhibit Index that is Item 21(a) of the Registration Statement (File No. 333-249180) and to file the limited liability company agreements of Torrance Logistics Company LLC and Martinez Terminal Company LLC, each as in effect on the date hereof. No change is made to the prospectus constituting Part I of the Registration Statement or Items 20, 21(b) or 22 of Part II of the Registration Statement.
PART II
INFORMATION NOT REQUIRED IN PROSPECTUS
Item 20. | Indemnification of Directors and Officers. |
Delaware Limited Liability Company Registrants
PBF Holding Company LLC and the co-registrant subsidiary guarantors are limited liability companies organized under the laws of the State of Delaware.
The Delaware Limited Liability Company Act, or the DLLCA, provides that, subject to such standards and restrictions, if any, as are set forth in its limited liability company agreement, a limited liability company may indemnify and hold harmless any member or manager or other person from and against any and all claims and demands whatsoever. However, to the extent that the limited liability company agreement seeks to restrict or limit the liabilities of such person, the DLLCA prohibits such agreement from eliminating liability for any act or omission that constitutes a bad faith violation of the implied contractual covenant of good faith and fair dealing.
The Limited Liability Company Agreements of Chalmette Refining, L.L.C., Delaware City Refining Company LLC, Paulsboro Refining Company LLC, PBF Holding Company LLC, PBF Investments LLC, PBF Power Marketing LLC, PBF Services Company LLC, Toledo Refining Company LLC, PBF Energy Western Region LLC, Torrance Refining Company LLC, Torrance Logistics Company LLC, Martinez Refining Company LLC and Martinez Terminal Company LLC provide that each company shall indemnify the directors, members or officers of each such company to the fullest extent permitted by law against any loss, liability, damage, judgment, demand, claim, cost or expense incurred by or asserted against the directors, members or officers of each such company (including, without limitation, reasonable attorneys fees and disbursements incurred in the defense thereof) arising out of any act or omission of the directors, members or officers in connection with each such company, unless such act or omission constitutes bad faith, gross negligence or willful misconduct on the part of the directors, members or officers of each such company.
Delaware Corporation Registrant
PBF Finance Corporation is incorporated under the laws of the State of Delaware.
Section 102 of the General Corporation Law of the State of Delaware, or the DGCL, allows a corporation to eliminate the personal liability of directors to a corporation or its stockholders for monetary damages for a breach of a fiduciary duty as a director, except where the director breached his duty of loyalty, failed to act in good faith, engaged in intentional misconduct or knowingly violated a law, authorized the payment of a dividend or approved a stock repurchase or redemption in violation of Delaware corporate law or obtained an improper personal benefit. Section 145 of the DGCL empowers a Delaware corporation to indemnify any person who was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding, whether civil, criminal, administrative or investigative (other than an action by or in the right of such corporation) by reason of the fact that such person is or was a director, officer, employee or agent of such corporation, or is or was serving at the request of such corporation as a director, officer, employee or agent of another corporation, partnership, joint venture, trust or other enterprise. The indemnity may include expenses (including attorneys fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by such person in connection with such action, suit or proceeding, provided that such person acted in good faith and in a manner such person reasonably believed to be in or not opposed to the best interests of the corporation and, with respect to any criminal action or proceeding, had no reasonable cause to believe such persons conduct was unlawful. A Delaware corporation may indemnify directors, officers, employees and other agents of such corporation in an action by or in the right of a corporation under the same conditions against expenses (including attorneys fees) actually and reasonably incurred by the person in connection with the defense and settlement of such action or suit, except that no indemnification is permitted without judicial approval if the person to be indemnified has been adjudged to be liable to the corporation. Where a present or former director or officer of the corporation is successful on the merits or otherwise in the defense of any action, suit or proceeding referred to above or in defense of any claim, issue or matter therein, the corporation must indemnify such person against the expenses (including attorneys fees) which he or she actually and reasonably incurred in connection therewith.
II-1
Section 174 of the DGCL provides, among other things, that a director who willfully or negligently approves of an unlawful payment of dividends or an unlawful stock purchase or redemption, may be held liable for such actions. A director who was either absent when the unlawful actions were approved or dissented at the time, may avoid liability by causing his or her dissent to such actions to be entered into the books containing the minutes of the meetings of the board of directors at the time such action occurred or immediately after such absent director receives notice of the unlawful acts.
PBF Finance Corporations certificate of incorporation and bylaws contains provisions that provide for indemnification of officers and directors and their heirs and representatives to the full extent permitted by, and in the manner permissible under, the DGCL.
As permitted by Section 102(b)(7) of the DGCL, PBF Finance Corporations certificate of incorporation contains a provision eliminating the personal liability of a director to PBF Finance Corporation or its stockholders for monetary damages for breach of fiduciary duty as a director, subject to some exceptions.
Item 21. | Exhibits and Financial Statement Schedules. |
(a) The following documents are filed as exhibits to this Registration Statement.
Number |
Description | |
2.1 |
Contribution Agreement dated as of April 24, 2019 by and between PBF Energy Company LLC and PBF Logistics LP (incorporated by reference to Exhibit 2.1 filed with PBF Energy Inc.s Current Report on Form 8-K dated April 26, 2019 (File No. 001-35764)) | |
2.2 | Contribution Agreement dated as of February 15, 2017 by and between PBF Energy Company LLC and PBF Logistics LP (incorporated by reference to Exhibit 2.1 of PBF Energy Inc.s Current Report on Form 8-K (File No. 001-35764) filed on February 22, 2017). | |
2.3 | Contribution Agreement dated as of August 31, 2016 by and between PBF Energy Company LLC and PBF Logistics LP (incorporated by reference to Exhibit 2.1 filed with PBF Energy Inc.s Current Report on Form 8-K dated September 7, 2016 (File No. 001-35764)). | |
2.4 |
Sale and Purchase Agreement dated June 11, 2019 by and between PBF Holding Company LLC and Equilon Enterprises LLC d/b/a Shell Oil Products US (incorporated by reference to Exhibit 2.1 filed with PBF Energy Inc.s Current Report on Form 8-K dated June 11, 2019 (File No. 001-35764)). | |
2.5 | Sale and Purchase Agreement by and between PBF Holding Company LLC and ExxonMobil Oil Corporation and its subsidiary, Mobil Pacific Pipeline Company as of September 29, 2015 (incorporated by reference to Exhibit 2.1 filed with PBF Energy Inc.s Current Report on Form 8-K dated October 1, 2015 (File No. 001-35764)). | |
2.6 | Sale and Purchase Agreement by and between PBF Holding Company LLC, ExxonMobil Oil Corporation, Mobil Pipe Line Company and PDV Chalmette, L.L.C. as of June 17, 2015 (incorporated by reference to Exhibit 2.1 filed with PBF Energy Inc.s Current Report on Form 8-K dated June 17, 2015 (File No. 001-35764)). | |
2.7 | Amendment No. 1 dated February 1, 2020 to Sale and Purchase Agreement dated June 11, 2019 by and between PBF Holding Company LLC and Equilon Enterprises LLC d/b/a Shell Oil Products US (incorporated by reference to Exhibit 2.2 filed with PBF Energy Inc.s Current Report on Form 8-K dated February 6, 2020 (File No. 001-35764)). | |
3.1 | Certificate of Formation of PBF Holding Company LLC (incorporated by reference to Exhibit 3.1 filed with PBF Holding Company LLCs Registration Statement on Form S-4 dated January 14, 2013 (Registration No. 333-186007)). |
II-2
Number |
Description | |
3.2 | Limited Liability Company Agreement of PBF Holding Company LLC (incorporated by reference to Exhibit 3.2 filed with PBF Holding Company LLCs Registration Statement on Form S-4 (Registration No. 333-186007)). | |
3.3 | Certificate of Incorporation of PBF Finance Corporation (incorporated by reference to Exhibit 3.3 filed with PBF Holding Company LLCs Registration Statement on Form S-4 (Registration No. 333-186007)). | |
3.4 | Bylaws of PBF Finance Corporation (Incorporated by reference to Exhibit 3.4 filed with PBF Holding Company LLCs Registration Statement on Form S-4 (Registration No. 333-186007)). | |
3.5 | Certificate of Formation of PBF Services Company LLC (incorporated by reference to Exhibit 3.5 filed with PBF Holding Company LLCs Registration Statement on Form S-4 filed on January 14, 2013 (Registration No. 333-186007)) | |
3.6 | Amended and Restated Limited Liability Company Agreement of PBF Services Company LLC (incorporated by reference to Exhibit 3.6 filed with PBF Holding Company LLCs Registration Statement on Form S-4 filed on November 16, 2016 (Registration No. 333-186007)) | |
3.7 | Certificate of Formation of PBF Power Marketing LLC (Incorporated by reference to Exhibit 3.7 filed with PBF Holding Company LLCs Registration Statement on Form S-4 filed on January 14, 2013 (Registration No. 333-186007)) | |
3.8 | Limited Liability Company Agreement of PBF Power Marketing LLC (incorporated by reference to Exhibit 3.8 filed with PBF Holding Company LLCs Registration Statement on Form S-4 filed on January 14, 2013 (Registration No. 333-186007)) | |
3.9 | Certificate of Formation of Paulsboro Refining Company LLC; Certificate of Conversion into Paulsboro Refining Company LLC (Incorporated by reference to Exhibit 3.11 filed with PBF Holding Company LLCs Registration Statement on Form S-4 filed on January 14, 2013 (Registration No. 333-186007)) | |
3.10 |
Second Amended and Restated Limited Liability Company Agreement of Paulsboro Refining Company LLC (Incorporated by reference to Exhibit 3.12 filed with PBF Holding Company LLCs Registration Statement on Form S-4 filed on January 14, 2013 (Registration No. 333-186007)) | |
3.11 |
Certificate of Formation of Toledo Refining Company LLC (Incorporated by reference to Exhibit 3.13 filed with PBF Holding Company LLCs Registration Statement on Form S-4 filed on January 14, 2013 (Registration No. 333-186007)) | |
3.12 |
Limited Liability Company Agreement of Toledo Refining Company LLC (Incorporated by reference to Exhibit 3.14 filed with PBF Holding Company LLCs Registration Statement on Form S-4 filed on January 14, 2013 (Registration No. 333-186007)) | |
3.13 |
Certificate of Formation of Delaware City Refining Company LLC (Incorporated by reference to Exhibit 3.15 filed with PBF Holding Company LLCs Registration Statement on Form S-4 filed on January 14, 2013 (Registration No. 333-186007)) | |
3.14 |
Limited Liability Company Agreement of Delaware City Refining Company LLC (Incorporated by reference to Exhibit 3.16 filed with PBF Holding Company LLCs Registration Statement on Form S-4 filed on January 14, 2013 (Registration No. 333-186007)) | |
3.15 |
Certificate of Formation of Chalmette Refining, L.L.C. (Incorporated by reference to Exhibit 3.17 filed with PBF Holding Company LLCs Registration Statement on Form S-4 filed on November 15, 2016 (Registration No. 333-186007)) | |
3.16 |
Third Amended and Restated Limited Liability Company Agreement of Chalmette Refining, L.L.C. (Incorporated by reference to Exhibit 3.16 filed with PBF Holding Company LLCs Registration Statement on Form S-4 filed on September 8, 2017 (Registration No. 333-220406)) |
II-3
Number |
Description | |
3.17 |
Certificate of Formation of PBLR Investments LLC; Certificate of Amendment to Certificate of Formation of PBLR Investments LLC; Certificate of Amendment to Certificate of Formation of PBLR Investments LLC, changing the name to PBF Investments LLC (Incorporated by reference to Exhibit 3.19 filed with PBF Holding Company LLCs Registration Statement on Form S-4 filed on January 14, 2013 (Registration No. 333-186007)) | |
3.18 |
Second Amended and Restated Limited Liability Company Agreement of PBF Investments LLC (Incorporated by reference to Exhibit 3.20 filed with PBF Holding Company LLCs Registration Statement on Form S-4 filed on January 14, 2013 (Registration No. 333-186007)) | |
3.19 |
Certificate of Formation of PBF Energy Western Region LLC (Incorporated by reference to Exhibit 3.21 filed with PBF Holding Company LLCs Registration Statement on Form S-4 filed on November 15, 2016 (Registration No. 333-186007)) | |
3.20 |
Amended and Restated Limited Liability Company Agreement of PBF Energy Western Region LLC (Incorporated by reference to Exhibit 3.20 filed with PBF Holding Company LLCs Registration Statement on Form S-4 filed on September 8, 2017 (Registration No. 333-220406)) | |
3.21 |
Certificate of Formation of Torrance Refining Company LLC (Incorporated by reference to Exhibit 3.23 filed with PBF Holding Company LLCs Registration Statement on Form S-4 filed on November 15, 2016 (Registration No. 333-186007)) | |
3.22 |
Amended and Restated Limited Liability Company Agreement of Torrance Refining Company LLC (Incorporated by reference to Exhibit 3.22 filed with PBF Holding Company LLCs Registration Statement on Form S-4 filed on September 8, 2017 (Registration No. 333-220406)) | |
3.23 |
Certificate of Formation of Torrance Logistics Company LLC (Incorporated by reference to Exhibit 3.25 filed with PBF Holding Company LLCs Registration Statement on Form S-4 filed on November 15, 2016 (Registration No. 333-186007)) | |
3.24* |
Second Amended and Restated Limited Liability Company Agreement of Torrance Logistics Company LLC | |
3.25** | Certificate of Formation of Martinez Refining Company LLC | |
3.26** | Limited Liability Company of Martinez Refining Company LLC | |
3.27** | Certificate of Formation of Martinez Terminal Company LLC | |
3.28* | Amended and Restated Limited Liability Company of Martinez Terminal Company LLC | |
4.1 | Indenture dated as of May 30, 2017, among PBF Holding Company LLC, PBF Finance Corporation, the Guarantors named on the signature pages thereto, Wilmington Trust, National Association, as Trustee and Deutsche Bank Trust Company Americas, as Paying Agent, Registrar, Transfer Agent and Authenticating Agent and Form of 7.25% Senior Note (included as Exhibit A) (incorporated by reference to Exhibit 4.1 of PBF Holding Company LLCs Current Report on Form 8-K (File No. 001- 35764) filed on May 30, 2017). | |
4.2 | Indenture dated as of January 24, 2020, among PBF Holding Company LLC, PBF Finance Corporation, the Guarantors named on the signature pages thereto, Wilmington Trust, National Association, as Trustee and Deutsche Bank Trust Company Americas, as Paying Agent, Registrar, Transfer Agent and Authenticating Agent (incorporated by reference to Exhibit 4.1 filed with PBF Energy Inc.s Current Report on Form 8-K dated January 24, 2020 (File No. 001-35764)). | |
4.3 | Registration Rights Agreement dated January 24, 2020, among PBF Holding Company LLC and PBF Finance Corporation, the Guarantors named therein and BofA Securities, Inc., as Representative of the several Initial Purchasers (incorporated by reference to Exhibit 4.3 filed with PBF Energy Inc.s Current Report on Form 8-K dated January 24, 2020 (File No. 001-35764)). |
II-4
Number |
Description | |
4.4 | First Supplemental Indenture dated February 3, 2020, among PBF Holding Company LLC, PBF Finance Corporation, Martinez Refining Company LLC, Martinez Terminal Company LLC, Wilmington Trust, National Association, as trustee, and Deutsche Bank Trust Company Americas, as paying agent, transfer agent, registrar and authenticating agent (2028 Senior Notes). (incorporated by reference to Exhibit 4.3 filed with PBF Energy Inc.s Quarterly Report on Form 10-Q dated May 15, 2020 (File No. 001-35764)). | |
4.5 | First Supplemental Indenture dated February 3, 2020, among PBF Holding Company LLC, PBF Finance Corporation, Martinez Refining Company LLC, Martinez Terminal Company LLC, Wilmington Trust, National Association, as trustee, and Deutsche Bank Trust Company Americas, as paying agent, transfer agent, registrar and authenticating agent (2025 Senior Notes). (incorporated by reference to Exhibit 4.4 filed with PBF Energy Inc.s Quarterly Report on Form 10-Q dated May 15, 2020 (File No. 001-35764)). | |
4.6 | Indenture dated as of May 13, 2020, among PBF Holding Company LLC, PBF Finance Corporation, the Guarantors named on the signature pages thereto, Wilmington Trust, National Association, as Trustee, Paying Agent, Registrar, Transfer Agent, Authenticating Agent and Notes Collateral Agent (incorporated by reference to Exhibit 4.1 filed with PBF Energy Inc.s Current Report on Form 8-K dated May 13, 2020 (File No. 001-35764)). | |
4.7 | Form of 9.25% Senior Secured Note (included as Exhibit A in Exhibit 4.1) (incorporated by reference to Exhibit 4.2 filed with PBF Energy Inc.s Current Report on Form 8-K dated May 13, 2020 (File No. 001-35764)). | |
5.1** |
Opinion of Paul Hastings LLP. | |
10.1*** |
PBF Energy Inc. Amended and Restated 2012 Equity Incentive Plan (incorporated by reference to DEF 14A filed with PBF Energy Inc.s Proxy Statement dated March 22, 2016 (File No. 001- 35764)). | |
10.2*** |
PBF Energy Inc. Amended and Restated 2017 Equity Incentive Plan (incorporated by reference to Appendix A to PBF Energy Inc.s Definitive Proxy Statement on Schedule 14A filed on April 13, 2018 (File No. 001-35764)). | |
10.3*** |
Form of PBF Energy Non-Qualified Stock Option Agreement under the Amended and Restated PBF Energy Inc. 2017 Equity Incentive Plan (incorporated by reference to Exhibit 10.1 filed with PBF Energy Inc.s Current Report on Form 8-K dated November 2, 2018 (File No. 001-35764)). | |
10.4*** |
Form of PBF Energy Performance Share Unit Award Agreement under the Amended and Restated PBF Energy Inc. 2017 Equity Incentive Plan (incorporated by reference to Exhibit 10.2 filed with PBF Energy Inc.s Current Report on Form 8-K dated November 2, 2018 (File No. 001-35764)). | |
10.5*** |
Form of PBF Energy Performance Unit Award Agreement under the Amended and Restated PBF Energy Inc. 2017 Equity Incentive Plan (incorporated by reference to Exhibit 10.3 filed with PBF Energy Inc.s Current Report on Form 8-K dated November 2, 2018 (File No. 001-35764)). | |
10.6*** |
Form of Non-Qualified Stock Option Agreement under the PBF Energy Inc. 2012 Equity Incentive Plan (incorporated by reference to Exhibit 10.28 filed with PBF Energy Inc.s Amendment No. 6 to Registration Statement on Form S-1 (Registration No. 333-177933)). | |
10.7*** |
Form of Restricted Stock Award Agreement for Non-employee Directors under the PBF Energy Inc. 2012 Equity Incentive Plan. (incorporated by reference to Exhibit 10.1 filed with PBF Energy Inc.s Quarterly Report on Form 10-Q dated November 7, 2014 (File No. 001-35764)). | |
10.8*** |
Form of 2016 Restricted Stock Award Agreement for Non-employee Directors under PBF Energy Inc. 2012 Equity Incentive Plan (incorporated by reference to Exhibit 10.1 filed with PBF Energy Inc.s Quarterly Report on Form 10-Q dated May 5, 2016 (File No. 001-35764)). |
II-5
Number |
Description | |
10.9*** |
Form of Restricted Stock Agreement for Employees under PBF Energy Inc. 2012 Equity Incentive Plan (incorporated by reference to Exhibit 10.1 filed with PBF Energy Inc.s Quarterly Report on Form 10-Q dated November 4, 2016 (File No. 001-35764)). | |
10.10*** |
Form of Restricted Stock Agreement for Non-Employee Directors under the PBF Energy Inc. 2017 Equity Incentive Plan (incorporated by reference to Exhibit 10.4 filed with PBF Energy Inc.s Quarterly Report on Form 10-Q dated August 3, 2017 (File No. 001-35764)). | |
10.11*** |
Form of 2017 Equity Incentive Plan Restricted Stock Agreement for employees (incorporated by reference to Exhibit 10.1 of PBF Energy Inc.s Current Report on Form 8-K (File No. 001-35764) filed on October 31, 2017). | |
10.12*** |
Form of 2017 Equity Incentive Plan Non-Qualified Stock Agreement (incorporated by reference to Exhibit 10.2 of PBF Energy Inc.s Current Report on Form 8-K (File No. 001-35764) filed on October 31, 2017). | |
10.13*** |
Form of Amended and Restated Non-Qualified Stock Option Agreement under the PBF Energy Inc. 2017 Equity Incentive Plan (incorporated by reference to Exhibit 10.1 filed with PBF Energy Inc.s Current Report on Form 8-K dated February 16, 2018 (File No. 001-35764)). | |
10.14*** |
Amended and Restated Restricted Stock Agreement for non-employee Directors under the PBF Energy Inc. 2017 Equity Incentive Plan. (incorporated by reference to Exhibit 10.3 of PBF Energy Inc.s Annual Report on Form 10-K (File No. 001-35764) filed on February 23, 2018). | |
10.15*** |
Form of Amended and Restated Restricted Stock Agreement for employees under PBF Energy Inc. 2017 Equity Incentive Plan (incorporated by reference to Exhibit 10.7 of PBF Energy Inc.s Annual Report on Form 10-K (File No. 001-35764) filed on February 23, 2018). | |
10.16 |
Fifth Amended and Restated Operation and Management Services and Secondment Agreement dated as of February 28, 2017 among PBF Holding Company LLC, Delaware City Refining Company LLC, Toledo Refining Company LLC, Torrance Refining Company LLC, Torrance Logistics Company LLC, PBF Logistics GP LLC, PBF Logistics LP, Delaware City Terminaling Company LLC, Delaware Pipeline Company LLC, Delaware City Logistics Company LLC, Toledo Terminaling Company LLC, PBFX Operating Company LLC, Paulsboro Refining Company LLC, Paulsboro Natural Gas Pipeline Company LLC and Chalmette Refining L.L.C. (incorporated by reference to Exhibit 10.1 of PBF Energy Inc.s Current Report on Form 8-K (File No. 001-35764) filed on March 3, 2017). | |
10.17 |
Transportation Services Agreement dated as of August 31, 2016 among PBF Holding Company LLC and Torrance Valley Pipeline Company LLC (incorporated by reference to Exhibit 10.3 filed with PBF Energy Inc.s Current Report on Form 8-K dated September 7, 2016 (File No. 001-35764)). | |
10.18 |
Pipeline Service Order dated as of August 31, 2016, by and between Torrance Valley Pipeline Company LLC, and PBF Holding Company LLC (incorporated by reference to Exhibit 10.4 filed with PBF Energy Inc.s Current Report on Form 8-K dated September 7, 2016 (File No. 001-35764)). | |
10.19 |
Pipeline Service Order dated as of August 31, 2016, by and between Torrance Valley Pipeline Company LLC, and PBF Holding Company LLC (incorporated by reference to Exhibit 10.5 filed with PBF Energy Inc.s Current Report on Form 8-K dated September 7, 2016 (File No. 001-35764)). | |
10.20 |
Dedicated Storage Service Order dated as of August 31, 2016, by and between Torrance Valley Pipeline Company LLC, and PBF Holding Company LLC (incorporated by reference to Exhibit 10.6 filed with PBF Energy Inc.s Current Report on Form 8-K dated September 7, 2016 (File No. 001-35764)). |
II-6
Number |
Description | |
10.21 | Throughput Storage Service Order dated as of August 31, 2016, by and between Torrance Valley Pipeline Company LLC, and PBF Holding Company LLC (incorporated by reference to Exhibit 10.7 filed with PBF Energy Inc.s Current Report on Form 8-K dated September 7, 2016 (File No. 001-35764)). | |
10.22 | Senior Secured Revolving Credit Agreement dated as of May 2, 2018 (incorporated by reference to Exhibit 10.1 filed with PBF Energy Inc.s Current Report on Form 8-K dated May 7, 2018 (File No. 001-35764)). | |
10.23 | Sixth Amended and Restated Operation and Management Services and Secondment Agreement dated as of July 31, 2018, among PBF Holding Company LLC, Delaware City Refining Company LLC, Toledo Refining Company LLC, Torrance Refining Company LLC, Torrance Logistics Company LLC, Chalmette Refining L.L.C., Paulsboro Refining Company LLC, PBF Logistics GP LLC, PBF Logistics LP, DCR Storage and Loading LLC, Delaware City Terminaling Company LLC, Toledo Terminaling Company LLC, Delaware Pipeline Company LLC, Delaware City Logistics Company LLC, Paulsboro Terminaling Company LLC, Paulsboro Natural Gas Pipeline Company LLC, Toledo Rail Logistics Company LLC, Chalmette Logistics Company LLC and PBFX Operating Company LLC (incorporated by reference to Exhibit 10.3 filed with PBF Logistics LPs Quarterly Report on Form 10-Q dated October 31, 2018 (File No. 001-36446)). | |
10.24 | Fifth Amended and Restated Omnibus Agreement dated as of July 31, 2018, among PBF Holding Company LLC, PBF Energy Company LLC, PBF Logistics GP LLC and PBF Logistics LP (incorporated by reference to Exhibit 10.2 filed with PBF Logistics LPs Quarterly Report on Form 10-Q dated October 31, 2018 (File No. 001-36446)). | |
10.25 | Amended and Restated Delaware City Rail Terminaling Services Agreement (incorporated by reference to Exhibit 10.1 filed with PBF Logistics LPs Quarterly Report on Form 10-Q dated May 3, 2018 (File No. 001-36446)). | |
10.26 | Amended and Restated Delaware City West Ladder Rack Terminaling Services Agreement (incorporated by reference to Exhibit 10.2 filed with PBF Logistics LPs Quarterly Report on Form 10-Q dated May 3, 2018 (File No. 001-36446)). | |
10.27 | Delaware Pipeline Services Agreement dated as of May 15, 2015 among PBF Holding Company LLC and Delaware Pipeline Company LLC (incorporated by reference to Exhibit 10.3 filed with PBF Energy Inc.s Current Report on Form 8-K dated May 12, 2015 (File No. 001-35764)). | |
10.28 | Delaware City Truck Loading Services Agreement dated as of May 15, 2015 among PBF Holding Company LLC and Delaware City Logistics Company LLC (incorporated by reference to Exhibit 10.4 filed with PBF Energy Inc.s Current Report on Form 8-K dated May 12, 2015 (File No. 001-35764)). | |
10.29 |
Second Amended and Restated Inventory Intermediation Agreement dated as of August 29, 2019, among J. Aron & Company LLC, PBF Holding Company LLC and Paulsboro Refining Company LLC (incorporated by reference to Exhibit 10.1 filed with PBF Energy Inc.s Current Report on Form 8-K dated September 4, 2019 (File No. 001-35764)). | |
10.30 |
Second Amended and Restated Inventory Intermediation Agreement dated as of August 29, 2019, among J. Aron & Company LLC, PBF Holding Company LLC and Delaware City Refining Company LLC (incorporated by reference to Exhibit 10.2 filed with PBF Energy Inc.s Current Report on Form 8-K dated September 4, 2019 (File No. 001-35764)) | |
10.31 | Delaware City Rail Terminaling Services Agreement, dated as of May 14, 2014 (incorporated by reference to Exhibit 10.4 filed with PBF Energy Inc.s Current Report on Form 8-K dated May 14, 2014 (File No. 001-35764)). |
II-7
Number |
Description | |
10.32 |
Amendment to Amended and Restated Delaware City Rail Terminaling Service Agreement dated February 13, 2019 among PBF Holding Company LLC, Delaware City Terminaling Company LLC and CPI Operations LLC (incorporated by reference to Exhibit 10.2 filed with PBF Energy Inc.s Current Report on Form 8-K dated February 14, 2019 (File No. 001-35764)). | |
10.33 |
Terminaling Service Agreement dated February 13, 2019 among PBF Holding Company LLC, Delaware City Terminaling Company LLC and CPI Operations LLC (incorporated by reference to Exhibit 10.3 filed with PBF Energy Inc.s Current Report on Form 8-K dated February 14, 2019 (File No. 001-35764)). | |
10.34 |
Amended and Restated Toledo Truck Unloading & Terminaling Agreement effective as of June 1, 2014 (incorporated by reference to Exhibit 10.10 filed with PBF Energy Inc.s Quarterly Report on Form 10-Q dated August 7, 2014 (File No. 001-35764)). | |
10.35 |
Assignment and Amendment of Amended and Restated Toledo Truck Unloading & Terminaling Agreement dated as of December 12, 2014 by and between PBF Holding Company LLC, PBF Logistics LP and Toledo Terminaling Company LLC (incorporated by reference to Exhibit 10.4 filed with PBF Logistics LPs Current Report on Form 8-K dated December 16, 2014 (File No. 001-36446)). | |
10.36 |
Lease Agreement dated as of February 15, 2017 by and between PBFX Operating Company LLC and Chalmette Refining, L.L.C. (incorporated by reference to Exhibit 10.3 of PBF Energy Inc.s Current Report on Form 8-K (File No. 001-35764) filed on February 22, 2017). | |
10.37 |
Storage Services Agreement dated as of February 15, 2017 by and between PBFX Operating Company LLC and PBF Holding Company LLC (incorporated by reference to Exhibit 10.1 of PBF Energy Inc.s Current Report on Form 8-K (File No. 001-35764) filed on February 22, 2017). | |
10.38 |
Firm Transportation Service Agreement dated as of August 3, 2017, by and between Paulsboro Natural Gas Pipeline Company LLC and Paulsboro Refining Company LLC (incorporated by reference to Exhibit 10.1 with PBF Logistics LPs Quarterly Report on Form 10-Q dated November 2, 2017 (File No. 001-36446)). | |
10.39 |
Storage and Terminaling Services Agreement dated as of December 12, 2014 among PBF Holding Company LLC and Toledo Terminaling Company LLC (incorporated by reference to Exhibit 10.3 to the Current Report on Form 8-K filed on December 16, 2014 (File No. 001-36446)). | |
10.40*** |
Employment Agreement dated as of September 4, 2014 between PBF Investments LLC and Thomas OConnor (incorporated by reference to Exhibit 10.9 filed with PBF Energy Inc.s Annual Report on Form 10-K dated February 29, 2016 (File No. 001-35764)). | |
10.41*** |
Employment Agreement dated as of April 1, 2014 between PBF Investments LLC and Timothy Paul Davis (incorporated by reference to Exhibit 10.4 filed with PBF Energy Inc.s Quarterly Report on Form 10-Q dated May 7, 2014 (File No. 001-35764)). | |
10.42*** |
Employment Agreement dated as of April 1, 2014 between PBF Investments LLC and Erik Young (incorporated by reference to Exhibit 10.2 filed with PBF Energy Inc.s Quarterly Report on Form 10-Q dated May 7, 2014 (File No. 001-35764)). | |
10.43*** |
Amended and Restated Employment Agreement dated as of December 17, 2012, between PBF Investments LLC and Thomas J. Nimbley (incorporated by reference to Exhibit 10.8 filed with PBF Energy Inc.s Current Report on Form 8-K dated December 18, 2012 (File No. 001-35764)). | |
10.44*** |
Second Amended and Restated Employment Agreement, dated as of December 17, 2012, between PBF Investments LLC and Matthew C. Lucey (incorporated by reference to Exhibit 10.9 filed with PBF Energy Inc.s Current Report on Form 8-K dated December 18, 2012 (File No. 001-35764)). |
II-8
Number |
Description | |
10.45 | Joinder Agreement to the ABL Security Agreement dated as of February 1, 2020, among Martinez Refining Company LLC, Martinez Terminal Company LLC and Bank of America, N.A., as Administrative Agent (incorporated by reference to Exhibit 10.1 filed with PBF Energy Inc.s Quarterly Report on Form 10-Q dated May 15, 2020 (File No. 001-35764)). | |
10.46 | Joinder Agreement to the Credit Agreement dated as of February 1, 2020, among PBF Holding Company LLC, the Guarantors named on the signature pages thereto including Martinez Refining Company LLC, Martinez Terminal Company LLC and Bank of America, N.A., as Administrative Agent to Senior Secured Credit Agreement dated as of May 2, 2018 (incorporated by reference to Exhibit 10.2 filed with PBF Energy Inc.s Quarterly Report on Form 10-Q dated May 15, 2020 (File No. 001-35764)). | |
10.47 | Amendment dated as of February 18, 2020 to Senior Secured Revolving Credit Agreement dated as of May 2, 2018 (incorporated by reference to Exhibit 10.3 filed with PBF Energy Inc.s Quarterly Report on Form 10-Q dated May 15, 2020 (File No. 001-35764)). | |
10.48*** |
Consent to Temporary Reduction of Biweekly Installments of Base Salary for Thomas Nimbley. (incorporated by reference to Exhibit 10.4 filed with PBF Energy Inc.s Quarterly Report on Form 10-Q dated May 15, 2020 (File No. 001-35764)). | |
10.49*** |
Consent to Temporary Reduction of Biweekly Installments of Base Salary for Charles Erik Young. (incorporated by reference to Exhibit 10.5 filed with PBF Energy Inc.s Quarterly Report on Form 10-Q dated May 15, 2020 (File No. 001-35764)). | |
10.50*** |
Consent to Temporary Reduction of Biweekly Installments of Base Salary for Timothy Paul Davis. (incorporated by reference to Exhibit 10.6 filed with PBF Energy Inc.s Quarterly Report on Form 10-Q dated May 15, 2020 (File No. 001-35764)). | |
10.51*** |
Consent to Temporary Reduction of Biweekly Installments of Base Salary for Thomas OConnor. (incorporated by reference to Exhibit 10.7 filed with PBF Energy Inc.s Quarterly Report on Form 10-Q dated May 15, 2020 (File No. 001-35764)). | |
10.52*** |
Consent to Temporary Reduction of Biweekly Installments of Base Salary for Matthew Lucey. (incorporated by reference to Exhibit 10.8 filed with PBF Energy Inc.s Quarterly Report on Form 10-Q dated May 15, 2020 (File No. 001-35764)). | |
10.53 |
Asset Purchase Agreement dated as of April 17, 2020, among PBF Holding Company LLC, Torrance Refining Company LLC, Martinez Refining Company LLC, Delaware City Refining Company LLC and Air Products and Chemicals Inc. (incorporated by reference to Exhibit 10.1 filed with PBF Energy Inc.s Current Report on Form 8-K dated April 22, 2020 (File No. 001-35764)). | |
10.54 |
Transition Services Agreement dated as of April 17, 2020, among PBF Holding Company LLC, Torrance Refining Company LLC, Martinez Refining Company LLC, Delaware City Refining Company LLC and Air Products and Chemicals Inc. and Air Products West Coast Hydrogen LLC (incorporated by reference to Exhibit 10.2 filed with PBF Energy Inc.s Current Report on Form 8-K dated April 22, 2020 (File No. 001-35764)). | |
10.55 | Guarantee Agreement dated as of April 17, 2020 among PBF Energy Inc. PBF Energy Company LLC and Air Products and Chemicals Inc. (incorporated by reference to Exhibit 10.3 filed with PBF Energy Inc.s Current Report on Form 8-K dated April 22, 2020 (File No. 001-35764)). | |
10.56 | Second Amendment dated as of May 7, 2020 to Senior Secured Revolving Credit Agreement dated as of May 2, 2018, as amended (incorporated by reference to Exhibit 10.1 filed with PBF Energy Inc.s Current Report on Form 8-K dated May 7, 2020 (File No. 001-35764)). | |
21.1** | Subsidiaries of PBF Holding Company LLC. |
II-9
Number |
Description | |
23.1** | Consent of Deloitte & Touche LLP. | |
23.2** | Consent of RSM US LLP. | |
23.3 | Consent of Paul Hastings LLP (included in Exhibit 5.1). | |
24.1 | Power of Attorney (included on signature page). | |
25.1** | Form T-1 Statement of Eligibility under the Trust Indenture Act of 1939 of Wilmington Trust, National Association with respect to the Indenture governing the 6.00% Senior Secured Notes due 2028. | |
99.1** | Form of Letter of Transmittal for Holders of Global Notes. | |
99.2** | Form of Letter to Brokers, Dealers, Commercial Banks, Trust Companies and Other Nominees. | |
99.3** | Form of Letter to Clients. | |
99.4** | Form of Notice of Guaranteed Delivery. | |
101.INS | XBRL Instance Document. | |
101.SCH | XBRL Taxonomy Extension Schema Document. | |
101.CAL | XBRL Taxonomy Extension Calculation Linkbase Document. | |
101.DEF | XBRL Taxonomy Extension Definition Linkbase Document. | |
101.LAB | XBRL Taxonomy Extension Label Linkbase Document. | |
101.PRE | XBRL Taxonomy Extension Presentation Linkbase Document. |
* | Filed herewith. |
** | Previously filed. |
*** | Indicates management compensatory plan or arrangement. |
| Portions of the exhibits have been omitted because such information is both (i) not material and (ii) could be competitively harmful if publicly disclosed. |
(1) | This exhibit should not be deemed to be filed for purposes of Section 18 of the Exchange Act. |
All schedules not identified above have been omitted because they are not required, are not applicable or the information is included in the selected consolidated financial data or notes contained in this registration statement.
Item 22. | Undertakings. |
Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be permitted to directors, officers and controlling persons of the registrants, we have been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the registrant of expenses incurred or paid by a director, officer or controlling person of a registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, such registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.
II-10
Each registrant hereby undertakes:
To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement:
(a) to include any prospectus required by section 10(a)(3) of the Securities Act of 1933;
(b) to reflect in the prospectus any facts or events arising after the effective date of the registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in the registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering price set forth in the Calculation of Registration Fee table in the effective registration statement; and
(c) to include any material information with respect to the plan of distribution not previously disclosed in the registration statement or any material change to such information in the registration statement.
That, for the purpose of determining any liability under the Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.
That, for the purpose of determining liability under the Securities Act of 1933 to any purchaser, if such registrant is subject to Rule 430C, each prospectus filed pursuant to Rule 424(b) as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B or other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement as of the date it is first used after effectiveness. Provided, however, that no statement made in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use, supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement or made in any such document immediately prior to such date of first use.
That, for the purpose of determining liability of such registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities, in a primary offering of securities of such registrant pursuant to this registration statement, regardless of the underwriting method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:
(a) any preliminary prospectus or prospectus of the undersigned registrants relating to the offering required to be filed pursuant to Rule 424;
(b) any free writing prospectus relating to the offering prepared by or on behalf of such registrant or used or referred to by the undersigned registrants;
(c) the portion of any other free writing prospectus relating to the offering containing material information about the undersigned registrants or their securities provided by or on behalf of such registrant; and
II-11
(d) any other communication that is an offer in the offering made by such registrant to the purchaser.
That, for purposes of determining any liability under the Securities Act of 1933, each filing of a registrants annual report pursuant to section 13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of an employee benefit plans annual report pursuant to section 15(d) of the Securities Exchange Act of 1934) that is incorporated by reference in the registration statement shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.
To deliver or cause to be delivered with the prospectus, to each person to whom the prospectus is sent or given, the latest annual report to security holders that is incorporated by reference in the prospectus and furnished pursuant to and meeting the requirements of Rule 14a-3 or Rule 14c-3 under the Securities Exchange Act of 1934; and, where interim financial information required to be presented by Article 3 of Regulation S-X are not set forth in the prospectus, to deliver, or cause to be delivered to each person to whom the prospectus is sent or given, the latest quarterly report that is specifically incorporated by reference in the prospectus to provide such interim financial information.
To respond to requests for information that is incorporated by reference into the prospectus pursuant to Items 4, 10(b), 11, or 13 of this Form, within one business day of receipt of such request, and to send the incorporated documents by first class mail or other equally prompt means. This includes information contained in documents filed subsequent to the effective date of the registration statement through the date of responding to the request.
To supply by means of a post-effective amendment all information concerning a transaction, and the company being acquired involved therein, that was not the subject of and included in the registration statement when it became effective.
II-12
Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the Township of Parsippany-Troy Hills, State of New Jersey, on October 9, 2020.
PBF HOLDING COMPANY LLC | ||
By: | /s/ Trecia M. Canty | |
| ||
Name: | Trecia M. Canty | |
Title: | Senior Vice President, General Counsel and Secretary |
Pursuant to the requirements of the Securities Act of 1933 this registration statement has been signed by the following persons in the capacities and on the dates indicated.
Signature |
Title |
Date | ||
/S/ * Thomas J. Nimbley |
Chief Executive Officer and Director (Principal Executive Officer) | October 9, 2020 | ||
/S/ * Erik Young |
Senior Vice President, Chief Financial Officer (Principal Financial Officer) | October 9, 2020 | ||
/S/ * John Barone |
Chief Accounting Officer (Principal Accounting Officer) | October 9, 2020 | ||
/S/ * Matthew C. Lucey |
Director | October 9, 2020 | ||
/S/ TRECIA M. CANTY Trecia M. Canty |
Director | October 9, 2020 |
* By: | /s/ Trecia M. Canty |
Attorney in-fact for the persons indicated | ||
Trecia M. Canty |
II-13
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the Township of Parsippany-Troy Hills, State of New Jersey, on October 9, 2020.
PBF FINANCE CORPORATION | ||
By: | /s/ Trecia M. Canty | |
| ||
Name: | Trecia M. Canty | |
Title: | Senior Vice President, General Counsel and Secretary |
Pursuant to the requirements of the Securities Act of 1933 this registration statement has been signed by the following persons in the capacities and on the dates indicated.
Signature |
Title |
Date | ||
/S/ * Thomas J. Nimbley |
Chief Executive Officer and Director (Principal Executive Officer) | October 9, 2020 | ||
/S/ * Erik Young |
Senior Vice President, Chief Financial Officer (Principal Financial Officer) | October 9, 2020 | ||
/S/ * John Barone |
Chief Accounting Officer (Principal Accounting Officer) | October 9, 2020 | ||
/S/ * Matthew C. Lucey |
Director | October 9, 2020 | ||
/S/ TRECIA M. CANTY Trecia M. Canty |
Director | October 9, 2020 |
* By: | /s/ Trecia M. Canty |
Attorney in-fact for the persons indicated | ||
Trecia M. Canty |
II-14
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the Township of Parsippany-Troy Hills, State of New Jersey, on October 9, 2020.
PBF SERVICES COMPANY LLC | ||
By: | /s/ Trecia M. Canty | |
Name: | Trecia M. Canty | |
Title: | Senior Vice President, General Counsel and Secretary |
Pursuant to the requirements of the Securities Act of 1933 this registration statement has been signed by the following persons in the capacities and on the dates indicated.
Signature |
Title |
Date | ||
/S/ * Thomas J. Nimbley |
Chief Executive Officer and Director (Principal Executive Officer) | October 9, 2020 | ||
/S/ * Erik Young |
Senior Vice President, Chief Financial Officer (Principal Financial Officer) | October 9, 2020 | ||
/S/ * John Barone |
Chief Accounting Officer (Principal Accounting Officer) | October 9, 2020 | ||
/S/ * Matthew C. Lucey |
Director | October 9, 2020 | ||
/S/ TRECIA M. CANTY Trecia M. Canty |
Director | October 9, 2020 |
* By: | /s/ Trecia M. Canty |
Attorney in-fact for the persons indicated | ||
Trecia M. Canty |
II-15
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the Township of Parsippany-Troy Hills, State of New Jersey, on October 9, 2020.
PBF POWER MARKETING LLC | ||
By: | /s/ Trecia M. Canty | |
Name: | Trecia M. Canty | |
Title: | Senior Vice President, General Counsel and Secretary |
Pursuant to the requirements of the Securities Act of 1933 this registration statement has been signed by the following persons in the capacities and on the dates indicated.
Signature |
Title |
Date | ||
/S/ * Thomas J. Nimbley |
Chief Executive Officer and Director (Principal Executive Officer) | October 9, 2020 | ||
/S/ * Erik Young |
Senior Vice President, Chief Financial Officer (Principal Financial Officer) | October 9, 2020 | ||
/S/ * John Barone |
Chief Accounting Officer (Principal Accounting Officer) | October 9, 2020 | ||
/S/ * Matthew C. Lucey |
Director | October 9, 2020 | ||
/S/ TRECIA M. CANTY Trecia M. Canty |
Director | October 9, 2020 |
* By: | /s/ Trecia M. Canty |
Attorney in-fact for the persons indicated | ||
Trecia M. Canty |
II-16
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the Township of Parsippany-Troy Hills, State of New Jersey, on October 9, 2020.
PAULSBORO REFINING COMPANY LLC | ||
By: | /s/ Trecia M. Canty | |
Name: | Trecia M. Canty | |
Title: | Senior Vice President, General Counsel and Secretary |
Pursuant to the requirements of the Securities Act of 1933 this registration statement has been signed by the following persons in the capacities and on the dates indicated.
Signature |
Title |
Date | ||
/S/ * Thomas J. Nimbley |
Chief Executive Officer and Director (Principal Executive Officer) | October 9, 2020 | ||
/S/ * Erik Young |
Senior Vice President, Chief Financial Officer (Principal Financial Officer) | October 9, 2020 | ||
/S/ * John Barone |
Chief Accounting Officer (Principal Accounting Officer) | October 9, 2020 | ||
/S/ * Matthew C. Lucey |
Director | October 9, 2020 | ||
/S/ TRECIA M. CANTY Trecia M. Canty |
Director | October 9, 2020 |
* By: | /s/ Trecia M. Canty |
Attorney in-fact for the persons indicated | ||
Trecia M. Canty |
II-17
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the Township of Parsippany-Troy Hills, State of New Jersey, on October 9, 2020.
TOLEDO REFINING COMPANY LLC | ||
By: | /s/ Trecia M. Canty | |
| ||
Name: | Trecia M. Canty | |
Title: | Senior Vice President, General Counsel and Secretary |
Pursuant to the requirements of the Securities Act of 1933 this registration statement has been signed by the following persons in the capacities and on the dates indicated.
Signature |
Title |
Date | ||
/S/ * Thomas J. Nimbley |
Chief Executive Officer and Director (Principal Executive Officer) | October 9, 2020 | ||
/S/ * Erik Young |
Senior Vice President, Chief Financial Officer (Principal Financial Officer) | October 9, 2020 | ||
/S/ * John Barone |
Chief Accounting Officer (Principal Accounting Officer) | October 9, 2020 | ||
/S/ * Matthew C. Lucey |
Director | October 9, 2020 | ||
/S/ TRECIA M. CANTY Trecia M. Canty |
Director | October 9, 2020 |
* By: | /s/ Trecia M. Canty |
Attorney in-fact for the persons indicated | ||
Trecia M. Canty |
II-18
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the Township of Parsippany-Troy Hills, State of New Jersey, on October 9, 2020.
DELAWARE CITY REFINING COMPANY LLC | ||
By: | /s/ Trecia M. Canty | |
| ||
Name: | Trecia M. Canty | |
Title: | Senior Vice President, General Counsel and Secretary |
Pursuant to the requirements of the Securities Act of 1933 this registration statement has been signed by the following persons in the capacities and on the dates indicated.
Signature |
Title |
Date | ||
/S/ * Thomas J. Nimbley |
Chief Executive Officer and Director (Principal Executive Officer) | October 9, 2020 | ||
/S/ * Erik Young |
Senior Vice President, Chief Financial Officer (Principal Financial Officer) | October 9, 2020 | ||
/S/ * John Barone |
Chief Accounting Officer (Principal Accounting Officer) | October 9, 2020 | ||
/S/ * Matthew C. Lucey |
Director | October 9, 2020 | ||
/S/ TRECIA M. CANTY Trecia M. Canty |
Director | October 9, 2020 |
* By: | /s/ Trecia M. Canty |
Attorney in-fact for the persons indicated | ||
Trecia M. Canty |
II-19
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the Township of Parsippany-Troy Hills, State of New Jersey, on October 9, 2020.
CHALMETTE REFINING, L.L.C. | ||
By: | /s/ Trecia M. Canty | |
| ||
Name: | Trecia M. Canty | |
Title: | Senior Vice President, General Counsel and Secretary |
Pursuant to the requirements of the Securities Act of 1933 this registration statement has been signed by the following persons in the capacities and on the dates indicated.
Signature |
Title |
Date | ||
/S/ * Thomas J. Nimbley |
Chief Executive Officer and Director (Principal Executive Officer) | October 9, 2020 | ||
/S/ * Erik Young |
Senior Vice President, Chief Financial Officer (Principal Financial Officer) | October 9, 2020 | ||
/S/ * John Barone |
Chief Accounting Officer (Principal Accounting Officer) | October 9, 2020 | ||
/S/ * Matthew C. Lucey |
Director | October 9, 2020 | ||
/S/ TRECIA M. CANTY Trecia M. Canty |
Director | October 9, 2020 |
* By: | /s/ Trecia M. Canty |
Attorney in-fact for the persons indicated | ||
Trecia M. Canty |
II-20
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the Township of Parsippany-Troy Hills, State of New Jersey, on October 9, 2020.
PBF INVESTMENTS LLC | ||
By: | /s/ Trecia M. Canty | |
| ||
Name: | Trecia M. Canty | |
Title: | Senior Vice President, General Counsel and Secretary |
Pursuant to the requirements of the Securities Act of 1933 this registration statement has been signed by the following persons in the capacities and on the dates indicated.
Signature |
Title |
Date | ||
/S/ * Thomas J. Nimbley |
Chief Executive Officer and Director (Principal Executive Officer) | October 9, 2020 | ||
/S/ * Erik Young |
Senior Vice President, Chief Financial Officer (Principal Financial Officer) | October 9, 2020 | ||
/S/ * John Barone |
Chief Accounting Officer (Principal Accounting Officer) | October 9, 2020 | ||
/S/ * Matthew C. Lucey |
Director | October 9, 2020 | ||
/S/ TRECIA M. CANTY Trecia M. Canty |
Director | October 9, 2020 |
* By: | /s/ Trecia M. Canty |
Attorney in-fact for the persons indicated | ||
Trecia M. Canty |
II-21
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the Township of Parsippany-Troy Hills, State of New Jersey, on October 9, 2020.
PBF ENERGY WESTERN REGION LLC | ||
By: | /s/ Trecia M. Canty | |
| ||
Name: | Trecia M. Canty | |
Title: |
Senior Vice President, General Counsel and Secretary |
Pursuant to the requirements of the Securities Act of 1933 this registration statement has been signed by the following persons in the capacities and on the dates indicated.
Signature |
Title |
Date | ||
/S/ * Thomas J. Nimbley |
Chief Executive Officer and Director (Principal Executive Officer) | October 9, 2020 | ||
/S/ * Erik Young |
Senior Vice President, Chief Financial Officer (Principal Financial Officer) | October 9, 2020 | ||
/S/ * John Barone |
Chief Accounting Officer (Principal Accounting Officer) | October 9, 2020 | ||
/S/ * Matthew C. Lucey |
Director | October 9, 2020 | ||
/S/ TRECIA M. CANTY Trecia M. Canty |
Director | October 9, 2020 |
* By: | /s/ Trecia M. Canty |
Attorney in-fact for the persons indicated | ||
Trecia M. Canty |
II-22
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the Township of Parsippany-Troy Hills, State of New Jersey, on October 9, 2020.
TORRANCE REFINING COMPANY LLC | ||
By: | /s/ Trecia M. Canty | |
Name: | Trecia M. Canty | |
Title: | Senior Vice President, General Counsel and Secretary |
Pursuant to the requirements of the Securities Act of 1933 this registration statement has been signed by the following persons in the capacities and on the dates indicated.
Signature |
Title |
Date | ||
/S/ * Thomas J. Nimbley |
Chief Executive Officer and Director (Principal Executive Officer) | October 9, 2020 | ||
/S/ * Erik Young |
Senior Vice President, Chief Financial Officer (Principal Financial Officer) | October 9, 2020 | ||
/S/ * John Barone |
Chief Accounting Officer (Principal Accounting Officer) | October 9, 2020 | ||
/S/ * Matthew C. Lucey |
Director | October 9, 2020 | ||
/S/ TRECIA M. CANTY Trecia M. Canty |
Director | October 9, 2020 |
* By: | /s/ Trecia M. Canty |
Attorney in-fact for the persons indicated | ||
Trecia M. Canty |
II-23
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the Township of Parsippany-Troy Hills, State of New Jersey, on October 9, 2020.
TORRANCE LOGISTICS COMPANY LLC | ||
By: | /s/ Trecia M. Canty | |
Name: | Trecia M. Canty | |
Title: | Senior Vice President, General Counsel and Secretary |
Pursuant to the requirements of the Securities Act of 1933 this registration statement has been signed by the following persons in the capacities and on the dates indicated.
Signature |
Title |
Date | ||
/S/ * Thomas J. Nimbley |
Chief Executive Officer and Director (Principal Executive Officer) | October 9, 2020 | ||
/S/ * Erik Young |
Senior Vice President, Chief Financial Officer (Principal Financial Officer) | October 9, 2020 | ||
/S/ * John Barone |
Chief Accounting Officer (Principal Accounting Officer) | October 9, 2020 | ||
/S/ * Matthew C. Lucey |
Director | October 9, 2020 | ||
/S/ TRECIA M. CANTY Trecia M. Canty |
Director | October 9, 2020 |
* By: | /s/ Trecia M. Canty |
Attorney in-fact for the persons indicated | ||
Trecia M. Canty |
II-24
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the Township of Parsippany-Troy Hills, State of New Jersey, on October 9, 2020.
MARTINEZ REFINING COMPANY LLC | ||
By: | /s/ Trecia M. Canty | |
Name: | Trecia M. Canty | |
Title: | Senior Vice President, General Counsel and Secretary |
Pursuant to the requirements of the Securities Act of 1933 this registration statement has been signed by the following persons in the capacities and on the dates indicated.
Signature |
Title |
Date | ||
/S/ * Thomas J. Nimbley |
Chief Executive Officer and Director (Principal Executive Officer) | October 9, 2020 | ||
/S/ * Erik Young |
Senior Vice President, Chief Financial Officer (Principal Financial Officer) | October 9, 2020 | ||
/S/ * John Barone |
Chief Accounting Officer (Principal Accounting Officer) | October 9, 2020 | ||
/S/ * Matthew C. Lucey |
Director | October 9, 2020 | ||
/S/ TRECIA M. CANTY Trecia M. Canty |
Director | October 9, 2020 |
* By: | /s/ Trecia M. Canty |
Attorney in-fact for the persons indicated | ||
Trecia M. Canty |
II-25
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the registrant has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the Township of Parsippany-Troy Hills, State of New Jersey, on October 9, 2020.
MARTINEZ TERMINAL COMPANY LLC | ||
By: | /s/ Trecia M. Canty | |
Name: | Trecia M. Canty | |
Title: | Senior Vice President, General Counsel and Secretary |
Pursuant to the requirements of the Securities Act of 1933 this registration statement has been signed by the following persons in the capacities and on the dates indicated.
Signature |
Title |
Date | ||
/S/ * Thomas J. Nimbley |
Chief Executive Officer and Director (Principal Executive Officer) | October 9, 2020 | ||
/S/ * Erik Young |
Senior Vice President, Chief Financial Officer (Principal Financial Officer) | October 9, 2020 | ||
/S/ * John Barone |
Chief Accounting Officer (Principal Accounting Officer) | October 9, 2020 | ||
/S/ * Matthew C. Lucey |
Director | October 9, 2020 | ||
/S/ TRECIA M. CANTY Trecia M. Canty |
Director | October 9, 2020 |
* By: | /s/ Trecia M. Canty |
Attorney in-fact for the persons indicated | ||
Trecia M. Canty |
II-26
Exhibit 3.24
SECOND AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT
of
Torrance Logistics Company LLC
Dated as of May 7, 2020
Section 1. |
Definitions | 1 | ||||
Section 2. |
Formation | 2 | ||||
Section 3. |
Name | 2 | ||||
Section 4. |
Registered Office; Registered Agent; Principal Office | 2 | ||||
Section 5. |
Term | 2 | ||||
Section 6. |
Purposes | 2 | ||||
Section 7. |
Members | 2 | ||||
Section 8. |
Contributions | 3 | ||||
Section 9. |
Distributions | 3 | ||||
Section 10. |
Board of Directors | 3 | ||||
Section 11. |
Officers | 5 | ||||
Section 12. |
Dissolution | 5 | ||||
Section 13. |
Governing Law | 6 | ||||
Section 14. |
Counterparts | 6 | ||||
Section 15. |
Miscellaneous | 6 | ||||
Section 16. |
Limited Liability | 6 | ||||
Section 17. |
Severability | 6 | ||||
Section 18. |
Indemnification | 6 | ||||
Exhibit A |
Form of Membership Interest Certificate |
A-1 | ||||
Exhibit B |
Ownership Interests |
B-1 |
SECOND AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT
OF
TORRANCE LOGISTICS COMPANY LLC
A Delaware Limited Liability Company
This SECOND AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT OF Torrance Logistics Company LLC (together with the Exhibits attached hereto, this Agreement), dated as of May 7, 2020, is adopted, executed and agreed to by the Original Member (as defined below) upon the sole Members execution of this Agreement.
RECITALS
WHEREAS, Torrance Logistics Company LLC (the Company) was formed as a Delaware limited liability company on October 2, 2015 (the Formation Date), by the filing of the certificate of formation with the Delaware Secretary of State; and
WHEREAS, the Member now desires to enter into this Agreement to amend the existing limited liability company agreement governing the Company in its entirety as set forth herein.
Section 1. Definitions. Capitalized terms used in this Agreement shall have the meanings given such terms (and grammatical variations of such terms have correlative meanings), as set forth below.
Act shall have the meaning assigned such term in Section 2.
Affiliate means, with respect to any Person or entity, any other Person or entity Controlling, Controlled by, or under common Control with that first Person or entity.
Agreement means this Limited Liability Company Agreement of the Company, together with the exhibits attached hereto, as amended, restated or supplemented or otherwise modified from time to time.
Bankruptcy shall have the meaning assigned to such term in Section 12(b).
Certificate of Formation means the Certificate of Formation of the Company filed with the Secretary of State of the State of Delaware on October 2, 2015, as amended or amended and restated from time to time.
Control (and its derivatives) means the possession, directly or indirectly, through one or more intermediaries, of (1) (a) in the case of a corporation, limited liability company, partnership, limited partnership or venture, more than 50% of the equity ownership therein; (b) in the case of a trust or estate, including a business trust, more than 50% of the beneficial interest therein; and (c) in the case of any other Person or entity, more than 50% of the economic or beneficial interest therein; and (2) in the case of any Person or entity, the power or authority, through ownership of voting securities, by contract or otherwise, to exercise a controlling influence over the management of the Person or entity.
Dispose means to sell, assign, transfer, convey, gift, exchange or otherwise dispose of such asset, whether such disposition be voluntary, involuntary or by operation of law.
Member means the Original Member and any Person succeeding to the Original Members limited liability company interests in the Company.
Membership Interests means the limited liability company interests of the Company held by the Member, in its capacity as such, including rights to distributions (liquidating or otherwise), allocations, information, all other rights, benefits and privileges enjoyed by the Member (under the Act, the Certificate of Formation, this Agreement or otherwise) in its capacity as the Member and otherwise to participate in the management of the Company; and all obligations, duties and liabilities imposed on the Member (under the Act, the Certificate of Formation, this Agreement, or otherwise) in its capacity as the Member.
Original Member means PBF Holding Company LLC, a Delaware limited liability company.
Person means an individual or a corporation, limited liability company, partnership, joint venture, trust, unincorporated organization, association, governmental agency, or political subdivision thereof or other entity.
Section 2. Formation. The Company was formed as a Delaware limited liability company by the filing of the Certificate on the Formation Date under and pursuant to the Delaware Limited Liability Company Act (as amended from time to time, the Act). Trecia Canty was designated as an authorized person within the meaning of the Act, and executed, delivered and filed the Certificate of Formation of the Company with the Secretary of State of the State of Delaware. The Member and the Board of Directors shall execute, deliver and file any other certificates (and any amendments and/or restatements thereof) necessary for the Company to qualify to do business in any jurisdiction in which the Company may wish to conduct business.
Section 3. Name. The name of the company shall be Torrance Logistics Company LLC The Companys business may be conducted under any other name or names as determined by the Board of Directors.
Section 4. Registered Office; Registered Agent; Principal Office. The registered office of the Company in the State of Delaware shall be the initial registered office designated in the Certificate or such other office (which need not be a place of business of the Company) as the Board of Directors may designate from time to time in the manner provided by law. The registered agent of the Company in the State of Delaware shall be the initial registered agent designated in the Certificate or such other Person or Persons as the Board of Directors may designate from time to time in the manner provided by law. The registered office of the Company in the United States shall be at the place specified in the Certificate, or such other place(s) as the Board of Directors may designate from time to time. The Company may have such other offices as the Board of Directors may determine appropriate.
Section 5. Term. The Company commenced on the filing of the Certificate of Formation and shall have a perpetual existence, unless and until it is sooner dissolved in accordance with Section 12 below.
Section 6. Purposes. The purposes and the sole business of the Company will be any activity that lawfully may be conducted by a limited liability company organized pursuant to the Act.
(a) Sole Member. The Original Member is the sole member of the Company and owner of 100% of the Membership Interests in the Company.
(b) Membership Interest Certificates.
(i) Ownership of the Membership Interests may be evidenced by Membership Interest certificates substantially in the form of Exhibit A hereto. The Company may issue one or more certificates to the Member, which certificates need not bear a seal of the Company but shall be signed by any Person authorized by the Original Member to sign such certificates who shall certify the percentage of Membership Interests represented by such certificate. The certificates shall be consecutively numbered and shall be entered in the books of the Company as they are issued and shall exhibit the holders name and percentage of Membership Interests. The Original Member may determine the conditions upon which a new certificate may be issued in place of a certificate that is alleged to have been lost, stolen or destroyed and may, in its discretion, require the owner of such certificate or its legal representative to give bond, with sufficient surety, to indemnify the Company and each transfer agent and registrar against any and all losses or claims that may arise by reason of the issuance of a new certificate in the place of the one so lost, stolen or destroyed. The Company shall maintain books for the purpose of registering the transfer of limited liability company interests.
(ii) In connection with a transfer in accordance with this Agreement of any limited liability company interests in the Company, the certificate(s) evidencing the limited liability company interests shall be delivered to the Company for cancellation, and the Company shall thereupon issue a new certificate to the transferee evidencing the limited liability company interests that were transferred and, if applicable, the Company shall issue a new certificate to the transferor evidencing any limited liability company interests registered in the name of the transferor that were not transferred. Each certificate shall bear a legend on the reverse side thereof substantially in the following form in addition to any other legend required by law or by agreement with the Company:
2
THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE SECURITIES ACT), AND MAY NOT BE OFFERED OR SOLD, UNLESS IT HAS BEEN REGISTERED UNDER THE SECURITIES ACT OR UNLESS AN EXEMPTION FROM REGISTRATION IS AVAILABLE (AND, IN SUCH CASE, AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY SHALL HAVE BEEN DELIVERED TO THE COMPANY TO THE EFFECT THAT SUCH OFFER OR SALE IS NOT REQUIRED TO BE REGISTERED UNDER THE SECURITIES ACT).
(iii) Each limited liability company interest in the Company shall constitute a security within the meaning of, and governed by, (i) Article 8 of the Uniform Commercial Code (including Section 8 102(a)(15) thereof) as in effect from time to time in the State of Delaware, and (ii) Article 8 of the Uniform Commercial Code of any other applicable jurisdiction that now or hereafter substantially includes the 1994 revisions to Article 8 thereof as adopted by the American Law Institute and the National Conference of Commissioners on Uniform State Laws and approved by the American Bar Association on February 14, 1995.
Section 8. Contributions. The Original Member (or a predecessor thereof) has made contributions to the capital of the Company in the amount reflected on the Companys books and records. Without creating any rights in favor of any third party, the Member may, from time to time, make additional contributions of cash or property to the capital of the Company, but shall have no obligation to do so.
Section 9. Distributions. The Member shall be entitled to (a) receive all distributions (including, without limitation, liquidating distributions) made by the Company, and (b) enjoy all other rights, benefits and interests in the Company. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not be required to make a distribution to the Member on account of its interest in the Company if such distribution would violate the Act.
Section 10. Board of Directors.
(a) Power; Number; Term of Office. As provided in this Agreement, all management powers over the business and affairs of the Company shall be exclusively vested in a Board of Directors and, subject to the direction of the Board of Directors, the Officers (as defined below), who shall collectively constitute managers of the Company within the meaning of the Act. Except as otherwise specifically provided in this Agreement, the authority and functions of the Board of Directors on the one hand and of the Officers on the other shall be identical to the authority and functions of the board of directors and officers, respectively, of a corporation organized under the Delaware General Corporation Law. Thus, except as otherwise specifically provided in this Agreement, the business and affairs of the Company shall be managed under the direction of the Board of Directors, and the day-to-day activities of the Company shall be conducted on the Companys behalf by the Officers, who shall be agents of the Company. In addition to the powers that now or hereafter can be granted to managers under the Act and to all other powers granted under any other provision of this Agreement, the Board of Directors and the Officers (subject to the direction of the Board of Directors) shall have full power and authority to do all things on such terms as they, in their sole discretion, may deem necessary or appropriate to conduct, or cause to be conducted, the business and affairs of the Company.
(b) Number. The number of directors that shall constitute the whole Board of Directors shall be determined from time to time by the Board of Directors (provided that no decrease in the number of directors which would have the effect of shortening the term of an incumbent director may be made by the Board of Directors). If the Board of Directors makes no such determination, the number of directors shall be not less than one and not more than seven. Each director shall hold office until such directors successor shall have been elected and qualified or until such directors earlier death, resignation or removal. Directors need not be members nor residents of the state of formation of the Company.
3
(c) Quorum; Voting. A majority of the total number of directors shall constitute a quorum for the transaction of business of the Board of Directors and the vote of a majority of the directors present at a meeting at which a quorum is present shall be the act of the Board of Directors.
(d) Place of Meetings; Order of Business. The directors may hold their meetings and may have an office and keep the books of the Company, except as otherwise provided by law, in such place or places, within or without the state of formation of the Company, as the Board of Directors may from time to time determine. At all meetings of the Board of Directors business shall be transacted in such order as shall from time to time be determined by the Chairman of the Board, or in the Chairman of the Boards absence by the President (should the President be a director), or in the Presidents absence by the Vice Chairman of the Board, or by the Board of Directors.
(e) First Meeting. At the first meeting of the Board of Directors in each year at which a quorum shall be present, the Board of Directors shall elect the officers of the Company.
(f) Regular Meetings. Regular meetings of the Board of Directors shall be held at such times and places as shall be designated from time to time by the Chairman of the Board or, in the absence of the Chairman of the Board, by the President (should the President be a director), or in the Presidents absence, by the Vice Chairman of the Board, or by the Board of Directors. Notice of such regular meetings shall not be required.
(g) Special Meetings. Special meetings of the Board of Directors may be called by the Chairman of the Board or the President (should the President be a director) or, on the written request of any two directors, by the Secretary, in each case on at least twenty-four (24) hours personal, written, facsimile or other electronic-transmission notice to each director. Such notice, or any waiver thereof, need not state the purpose or purposes of such meeting, except as may otherwise be required by law or this Agreement. Meetings may be held at any time without notice if all the directors are present or if those not present waive notice of the meeting in writing.
(h) Election of Directors. Each director shall be elected by the Member and shall serve in such capacity until such directors successor has been elected and qualified or until such director dies, resigns, or is removed.
(i) Removal; Replacement. Any director or the entire Board of Directors may be removed, with or without cause by the Member. If a director dies, resigns or is removed, such directors replacement shall be selected by the Member.
(j) Vacancies; Increases in the Number of Directors. Vacancies existing on the Board of Directors for any reason and newly created directorships resulting from any increase in the authorized number of directors may be filled by the affirmative vote of a majority of the directors then in office, although less than a quorum, or by a sole remaining director; and any director so chosen shall hold office until the next annual election and until such directors successor shall have been elected and qualified, or until such directors earlier death, resignation or removal.
(k) Compensation. Directors and members of standing committees may receive such compensation as the Board of Directors from time to time shall determine to be appropriate, and shall be reimbursed for all reasonable expenses incurred in attending and returning from meetings of the Board of Directors.
(l) Action Without a Meeting; Telephone Conference Meetings.
(i) Any action required or permitted to be taken at any meeting of the Board of Directors, or any committee designated by the Board of Directors, may be taken without a meeting if all members of the Board of Directors or committee, as the case may be, consent thereto in writing, and the writing or writings are filed with the minutes of proceedings of the Board of Directors or committee. Such consent shall have the same force and effect as a unanimous vote at a meeting and may be stated as such in any document or instrument filed with the Secretary of State of the state of formation of the Company.
(ii) Subject to the requirement for notice of meetings, members of the Board of Directors or members of any committee designated by the Board of Directors may participate in a meeting of such Board of Directors or committee, as the case may be, by means of a conference telephone connection or similar communications equipment by means of which all persons participating in the meeting can hear each other, and participation in such a meeting shall constitute presence in person at
such meeting, except where a person participates in the meeting for the express purpose of objecting to the transaction of any business on the ground that the meeting is not lawfully called or convened.
4
(m) Approval or Ratification of Acts or Contracts by the Member. The Board of Directors in its discretion may submit any act or contract for approval or ratification the Member and any act or contract that shall be approved or be ratified by the Member shall be valid and binding upon the Company.
(n) Committees. The Board of Directors may, by resolution passed by a majority of the whole Board of Directors, designate committees as it shall see fit consisting of one or more of the directors, one of whom shall be designated chairman of each such committee. Any such committee shall have and may exercise such powers and authority as provided in the resolution creating it and as determined from time to time by the Board of Directors.
(a) Number, Titles and Term of Office. The Board of Directors may appoint such officers of the Company as the Board of Directors may deem necessary or advisable to manage the day-to-day business affairs of the Company (collectively, the Officers). Officers may be given titles or may be designated as authorized persons. To the extent authorized by the Board of Directors, any Officer may act on behalf of, bind and execute and deliver documents in the name and on behalf of the Company and its subsidiaries.
(b) Removal. The Board of Directors may, in its sole discretion, remove any Officer with or without cause at any time, subject to any applicable employment agreement.
(a) The Company shall dissolve and its affairs shall be wound up at such time, if any, as the Member may elect. The Company shall also be dissolved, and its affairs shall be wound up, upon the first to occur of the following: (i) the termination of the legal existence of the last remaining member of the Company or the occurrence of any other event which terminates the continued membership of the last remaining member of the Company in the Company unless the Company is continued without dissolution in a manner permitted by this Agreement or the Act or (ii) the entry of a decree of judicial dissolution under Section 18-802 of the Act. Upon the occurrence of any event that causes the last remaining member of the Company to cease to be a member of the Company (other than upon continuation of the Company without dissolution upon (A) an assignment by the Member of all of its limited liability company interest in the Company and the admission of the transferee, or (B) the resignation of the Member and the admission of an additional member of the Company), to the fullest extent permitted by law, the personal representative of such member is hereby authorized to, and shall, within 90 days after the occurrence of the event that terminated the continued membership of such member in the Company, agree in writing (x) to continue the Company and (y) to the admission of the personal representative or its nominee or designee, as the case may be, as a substitute member of the Company, effective as of the occurrence of the event that terminated the continued membership of such member in the Company.
(b) Notwithstanding any other provision of this Agreement, the Bankruptcy of the Member shall not cause the Member to cease to be a member of the Company and upon the occurrence of such an event, the Company shall continue without dissolution. Bankruptcy means, with respect to any Person or entity, if such Person or entity (i) makes an assignment for the benefit of creditors, (ii) files a voluntary petition in bankruptcy, (iii) is adjudged a bankrupt or insolvent, or has entered against it an order for relief, in any bankruptcy or insolvency proceedings, (iv) files a petition or answer seeking for itself any reorganization, arrangement, composition, readjustment, liquidation or similar relief under any statute, law or regulation, (v) files an answer or other pleading admitting or failing to contest the material allegations of a petition filed against it in any proceeding of this nature, (vi) seeks, consents to or acquiesces in the appointment of a trustee, receiver or liquidator of the Person or entity or of all or any substantial part of its properties, or (vii) if 120 days after the commencement of any proceeding against the Person or entity seeking reorganization, arrangement, composition, readjustment, liquidation or similar relief under any statute, law or regulation, if the proceeding has not been dismissed, or if within 90 days after the appointment without such Persons or entitys consent or acquiescence of a trustee, receiver or liquidator of such Person or entity or of all or any substantial part of its properties, the appointment is not vacated or stayed, or within 90 days after the expiration of any such stay, the appointment is not vacated. The foregoing definition of Bankruptcy is intended to replace and shall supersede and replace the definition of Bankruptcy set forth in Sections 18-101(1) and 18-304 of the Act.
5
(c) In the event of dissolution, the Company shall conduct only such activities as are necessary to wind up its affairs (including the sale of the assets of the Company in an orderly manner), and the assets of the Company shall be applied in the manner, and in the order of priority, set forth in Section 18-804 of the Act.
(d) The Company shall terminate when (i) all of the assets of the Company, after payment of or due provision for all debts, liabilities and obligations of the Company shall have been distributed to the Member in the manner provided for in this Agreement and (ii) the Certificate of Formation shall have been canceled in the manner required by the Act.
Section 13. Governing Law. THIS AGREEMENT IS GOVERNED BY AND SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE.
Section 14. Counterparts. This Agreement may be executed in any number of counterparts (including faxed counterparts) with the same effect as if all signing parties had signed the same document, and all such counterparts shall be construed together and constitute the same instrument.
(a) Ratification. The execution and filing with the Delaware Secretary of State of the Certificate of Formation by Adorys Velazquez is hereby ratified and confirmed. The existence of the Company as a separate legal entity shall continue until cancellation of the Certificate of Formation as provided in the Act.
(b) Assignment. The Member may assign in whole or in part its limited liability company interest in the Company. The transferee of a limited liability company interest in the Company shall be admitted to the Company as a member of the Company upon its execution of an instrument signifying its agreement to be bound by the terms and conditions of this Agreement, which instrument may be a counterpart signature page to this Agreement. If the Member transfers all of its limited liability company interest in the Company, such admission shall be deemed effective immediately prior to the transfer and, immediately following such admission, the transferor Member shall cease to be a member of the Company.
(c) Resignation. The Member may not resign or otherwise cease to be a member of the Company unless, prior thereto, a substitute Member has been admitted to the Company by executing an instrument signifying its agreement to be bound by the terms and conditions of this Agreement, which instrument may be a counterpart signature page to this Agreement.
Section 16. Limited Liability. Except as otherwise expressly provided by the Act, the debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be the debts, obligations and liabilities solely of the Company, and the Member shall not be obligated personally for any such debt, obligation or liability of the Company solely by reason of being a Member of the Company.
Section 17. Severability. Each provision of this Agreement shall be considered severable and if for any reason any provision or provisions herein are determined to be invalid, unenforceable or illegal under any existing or future law, such invalidity, unenforceability or illegality shall not impair the operation of or affect those portions of this Agreement which are valid, enforceable and legal.
Section 18. Indemnification. The directors and officers of the Company shall not be liable or accountable in damages or otherwise to the Company for any act or omission done or omitted by such director or such officer in good faith, unless such act or omission constitutes gross negligence, willful misconduct, or a breach of this Agreement on the part of the directors or officers of the Company. The Company shall indemnify the directors or officers of the Company to the fullest extent permitted by law against any loss, liability, damage, judgment, demand, claim, cost or expense incurred by or asserted against the directors or officers of the Company (including, without limitation, reasonable attorneys fees and disbursements incurred in the defense thereof) arising out of any act or omission of the directors or officers in connection with the Company, unless such act or omission constitutes bad faith, gross negligence or willful misconduct on the part of the directors or officers of the Company.
[SIGNATURE BEGINS ON NEXT PAGE]
6
IN WITNESS WHEREOF, the undersigned has executed this Agreement as of the date first written above.
MEMBER: | ||
PBFWR LOGISTICS HOLDING LLC | ||
By: | /s/ Trecia Canty | |
Name: Trecia Canty | ||
Title: Senior Vice President, General Counsel | ||
and Secretary |
Signature Page
of LLC Agreement
FORM OF MEMBERSHIP INTEREST CERTIFICATE
THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE SECURITIES ACT), AND MAY NOT BE OFFERED OR SOLD, UNLESS IT HAS BEEN REGISTERED UNDER THE SECURITIES ACT OR UNLESS AN EXEMPTION FROM REGISTRATION IS AVAILABLE (AND, IN SUCH CASE, AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY SHALL HAVE BEEN DELIVERED TO THE COMPANY TO THE EFFECT THAT SUCH OFFER OR SALE IS NOT REQUIRED TO BE REGISTERED UNDER THE SECURITIES ACT).
Membership Interest Certificate in Torrance Logistics Company LLC
Certificate No. [ ] | [100]% of Membership Interests |
Torrance Logistics Company LLC, a Delaware limited liability company (the Company), hereby certifies that (the Holder) is the registered owner of 100% of the Membership Interests in the Company (the Membership Interests). The rights, preferences and limitations of the Membership Interests are set forth in the Second Amended and Restated Limited Liability Company Agreement of the Company, effective as of May 7, 2020, as amended, supplemented or restated from time to time (the Agreement), a copy of which is on file at the principal office of the Company.
By acceptance of this Certificate, and as a condition to being entitled to any rights and/or benefits with respect to the Membership Interests evidenced hereby, the Holder is deemed to have agreed to comply with and be bound by all the terms and conditions of the Agreement. The Company will furnish a copy of the Agreement to the Holder without charge upon written request to the Company at its principal place of business. The Company maintains books for the purpose of registering the transfer of Interests.
Each limited liability company interest in the Company shall constitute a security within the meaning of, and governed by, (i) Article 8 of the Uniform Commercial Code (including Section 8 102(a)(15) thereof) as in effect from time to time in the State of Delaware, and (ii) Article 8 of the Uniform Commercial Code of any other applicable jurisdiction that now or hereafter substantially includes the 1994 revisions to Article 8 thereof as adopted by the American Law Institute and the National Conference of Commissioners on Uniform State Laws and approved by the American Bar Association on February 14, 1995.
This Certificate shall be governed by and construed in accordance with the laws of the State of Delaware without regard to principles of conflicts of laws.
IN WITNESS WHEREOF, the Company has caused this Certificate to be executed by its authorized officer as of the date set forth below.
Dated:
By: |
| |
Name: | ||
Title: |
A-1
Exhibit 3.28
AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT
of
Martinez Terminal Company LLC
Dated as of May 7, 2020
Section 1. |
Definitions | 1 | ||||
Section 2. |
Formation | 2 | ||||
Section 3. |
Name | 2 | ||||
Section 4. |
Registered Office; Registered Agent; Principal Office | 2 | ||||
Section 5. |
Term | 2 | ||||
Section 6. |
Purposes | 2 | ||||
Section 7. |
Members | 2 | ||||
Section 8. |
Contributions | 3 | ||||
Section 9. |
Distributions | 3 | ||||
Section 10. |
Board of Directors | 3 | ||||
Section 11. |
Officers | 5 | ||||
Section 12. |
Dissolution | 5 | ||||
Section 13. |
Governing Law | 6 | ||||
Section 14. |
Counterparts | 6 | ||||
Section 15. |
Miscellaneous | 6 | ||||
Section 16. |
Limited Liability | 6 | ||||
Section 17. |
Severability | 6 | ||||
Section 18. |
Indemnification | 6 | ||||
Exhibit A |
Form of Membership Interest Certificate |
A-1 | ||||
Exhibit B |
Ownership Interests |
B-1 |
AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT
OF
MARTINEZ TERMINAL COMPANY LLC
A Delaware Limited Liability Company
This AMENDED AND RESTATED LIMITED LIABILITY COMPANY AGREEMENT OF Martinez Terminal Company LLC (together with the Exhibits attached hereto, this Agreement), dated as of May 7, 2020, is adopted, executed and agreed to by the Original Member (as defined below) upon the sole Members execution of this Agreement.
RECITALS
WHEREAS, Martinez Terminal Company LLC (the Company) was formed as a Delaware limited liability company on July 31, 2019 (the Formation Date), by the filing of the certificate of formation with the Delaware Secretary of State; and
WHEREAS, the Member now desires to enter into this Agreement to amend the existing limited liability company agreement governing the Company in its entirety as set forth herein.
Section 1. Definitions. Capitalized terms used in this Agreement shall have the meanings given such terms (and grammatical variations of such terms have correlative meanings), as set forth below.
Act shall have the meaning assigned such term in Section 2.
Affiliate means, with respect to any Person or entity, any other Person or entity Controlling, Controlled by, or under common Control with that first Person or entity.
Agreement means this Limited Liability Company Agreement of the Company, together with the exhibits attached hereto, as amended, restated or supplemented or otherwise modified from time to time.
Bankruptcy shall have the meaning assigned to such term in Section 12(b).
Certificate of Formation means the Certificate of Formation of the Company filed with the Secretary of State of the State of Delaware on October 2, 2015, as amended or amended and restated from time to time.
Control (and its derivatives) means the possession, directly or indirectly, through one or more intermediaries, of (1) (a) in the case of a corporation, limited liability company, partnership, limited partnership or venture, more than 50% of the equity ownership therein; (b) in the case of a trust or estate, including a business trust, more than 50% of the beneficial interest therein; and (c) in the case of any other Person or entity, more than 50% of the economic or beneficial interest therein; and (2) in the case of any Person or entity, the power or authority, through ownership of voting securities, by contract or otherwise, to exercise a controlling influence over the management of the Person or entity.
Dispose means to sell, assign, transfer, convey, gift, exchange or otherwise dispose of such asset, whether such disposition be voluntary, involuntary or by operation of law.
Member means the Original Member and any Person succeeding to the Original Members limited liability company interests in the Company.
Membership Interests means the limited liability company interests of the Company held by the Member, in its capacity as such, including rights to distributions (liquidating or otherwise), allocations, information, all other rights, benefits and privileges enjoyed by the Member (under the Act, the Certificate of Formation, this Agreement or otherwise) in its capacity as the Member and otherwise to participate in the management of the Company; and all obligations, duties and liabilities imposed on the Member (under the Act, the Certificate of Formation, this Agreement, or otherwise) in its capacity as the Member.
Original Member means PBF Holding Company LLC, a Delaware limited liability company.
Person means an individual or a corporation, limited liability company, partnership, joint venture, trust, unincorporated organization, association, governmental agency, or political subdivision thereof or other entity.
Section 2. Formation. The Company was formed as a Delaware limited liability company by the filing of the Certificate on the Formation Date under and pursuant to the Delaware Limited Liability Company Act (as amended from time to time, the Act). Trecia Canty was designated as an authorized person within the meaning of the Act, and executed, delivered and filed the Certificate of Formation of the Company with the Secretary of State of the State of Delaware. The Member and the Board of Directors shall execute, deliver and file any other certificates (and any amendments and/or restatements thereof) necessary for the Company to qualify to do business in any jurisdiction in which the Company may wish to conduct business.
Section 3. Name. The name of the company shall be Martinez Terminal Company LLC The Companys business may be conducted under any other name or names as determined by the Board of Directors.
Section 4. Registered Office; Registered Agent; Principal Office. The registered office of the Company in the State of Delaware shall be the initial registered office designated in the Certificate or such other office (which need not be a place of business of the Company) as the Board of Directors may designate from time to time in the manner provided by law. The registered agent of the Company in the State of Delaware shall be the initial registered agent designated in the Certificate or such other Person or Persons as the Board of Directors may designate from time to time in the manner provided by law. The registered office of the Company in the United States shall be at the place specified in the Certificate, or such other place(s) as the Board of Directors may designate from time to time. The Company may have such other offices as the Board of Directors may determine appropriate.
Section 5. Term. The Company commenced on the filing of the Certificate of Formation and shall have a perpetual existence, unless and until it is sooner dissolved in accordance with Section 12 below.
Section 6. Purposes. The purposes and the sole business of the Company will be any activity that lawfully may be conducted by a limited liability company organized pursuant to the Act.
(a) Sole Member. The Original Member is the sole member of the Company and owner of 100% of the Membership Interests in the Company.
(b) Membership Interest Certificates.
(i) Ownership of the Membership Interests may be evidenced by Membership Interest certificates substantially in the form of Exhibit A hereto. The Company may issue one or more certificates to the Member, which certificates need not bear a seal of the Company but shall be signed by any Person authorized by the Original Member to sign such certificates who shall certify the percentage of Membership Interests represented by such certificate. The certificates shall be consecutively numbered and shall be entered in the books of the Company as they are issued and shall exhibit the holders name and percentage of Membership Interests. The Original Member may determine the conditions upon which a new certificate may be issued in place of a certificate that is alleged to have been lost, stolen or destroyed and may, in its discretion, require the owner of such certificate or its legal representative to give bond, with sufficient surety, to indemnify the Company and each transfer agent and registrar against any and all losses or claims that may arise by reason of the issuance of a new certificate in the place of the one so lost, stolen or destroyed. The Company shall maintain books for the purpose of registering the transfer of limited liability company interests.
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(ii) In connection with a transfer in accordance with this Agreement of any limited liability company interests in the Company, the certificate(s) evidencing the limited liability company interests shall be delivered to the Company for cancellation, and the Company shall thereupon issue a new certificate to the transferee evidencing the limited liability company interests that were transferred and, if applicable, the Company shall issue a new certificate to the transferor evidencing any limited liability company interests registered in the name of the transferor that were not transferred. Each certificate shall bear a legend on the reverse side thereof substantially in the following form in addition to any other legend required by law or by agreement with the Company:
THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE SECURITIES ACT), AND MAY NOT BE OFFERED OR SOLD, UNLESS IT HAS BEEN REGISTERED UNDER THE SECURITIES ACT OR UNLESS AN EXEMPTION FROM REGISTRATION IS AVAILABLE (AND, IN SUCH CASE, AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY SHALL HAVE BEEN DELIVERED TO THE COMPANY TO THE EFFECT THAT SUCH OFFER OR SALE IS NOT REQUIRED TO BE REGISTERED UNDER THE SECURITIES ACT).
(iii) Each limited liability company interest in the Company shall constitute a security within the meaning of, and governed by, (i) Article 8 of the Uniform Commercial Code (including Section 8 102(a)(15) thereof) as in effect from time to time in the State of Delaware, and (ii) Article 8 of the Uniform Commercial Code of any other applicable jurisdiction that now or hereafter substantially includes the 1994 revisions to Article 8 thereof as adopted by the American Law Institute and the National Conference of Commissioners on Uniform State Laws and approved by the American Bar Association on February 14, 1995.
Section 8. Contributions. The Original Member (or a predecessor thereof) has made contributions to the capital of the Company in the amount reflected on the Companys books and records. Without creating any rights in favor of any third party, the Member may, from time to time, make additional contributions of cash or property to the capital of the Company, but shall have no obligation to do so.
Section 9. Distributions. The Member shall be entitled to (a) receive all distributions (including, without limitation, liquidating distributions) made by the Company, and (b) enjoy all other rights, benefits and interests in the Company. Notwithstanding any provision to the contrary contained in this Agreement, the Company shall not be required to make a distribution to the Member on account of its interest in the Company if such distribution would violate the Act.
Section 10. Board of Directors.
(a) Power; Number; Term of Office. As provided in this Agreement, all management powers over the business and affairs of the Company shall be exclusively vested in a Board of Directors and, subject to the direction of the Board of Directors, the Officers (as defined below), who shall collectively constitute managers of the Company within the meaning of the Act. Except as otherwise specifically provided in this Agreement, the authority and functions of the Board of Directors on the one hand and of the Officers on the other shall be identical to the authority and functions of the board of directors and officers, respectively, of a corporation organized under the Delaware General Corporation Law. Thus, except as otherwise specifically provided in this Agreement, the business and affairs of the Company shall be managed under the direction of the Board of Directors, and the day-to-day activities of the Company shall be conducted on the Companys behalf by the Officers, who shall be agents of the Company. In addition to the powers that now or hereafter can be granted to managers under the Act and to all other powers granted under any other provision of this Agreement, the Board of Directors and the Officers (subject to the direction of the Board of Directors) shall have full power and authority to do all things on such terms as they, in their sole discretion, may deem necessary or appropriate to conduct, or cause to be conducted, the business and affairs of the Company.
(b) Number. The number of directors that shall constitute the whole Board of Directors shall be determined from time to time by the Board of Directors (provided that no decrease in the number of directors which would have the effect of shortening the term of an incumbent director may be made by the Board of Directors). If the Board of Directors makes no such determination, the number of directors shall be not less than one and not more than seven. Each director shall hold office until such directors successor shall have been elected and qualified or until such directors earlier death, resignation or removal. Directors need not be members nor residents of the state of formation of the Company.
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(c) Quorum; Voting. A majority of the total number of directors shall constitute a quorum for the transaction of business of the Board of Directors and the vote of a majority of the directors present at a meeting at which a quorum is present shall be the act of the Board of Directors.
(d) Place of Meetings; Order of Business. The directors may hold their meetings and may have an office and keep the books of the Company, except as otherwise provided by law, in such place or places, within or without the state of formation of the Company, as the Board of Directors may from time to time determine. At all meetings of the Board of Directors business shall be transacted in such order as shall from time to time be determined by the Chairman of the Board, or in the Chairman of the Boards absence by the President (should the President be a director), or in the Presidents absence by the Vice Chairman of the Board, or by the Board of Directors.
(e) First Meeting. At the first meeting of the Board of Directors in each year at which a quorum shall be present, the Board of Directors shall elect the officers of the Company.
(f) Regular Meetings. Regular meetings of the Board of Directors shall be held at such times and places as shall be designated from time to time by the Chairman of the Board or, in the absence of the Chairman of the Board, by the President (should the President be a director), or in the Presidents absence, by the Vice Chairman of the Board, or by the Board of Directors. Notice of such regular meetings shall not be required.
(g) Special Meetings. Special meetings of the Board of Directors may be called by the Chairman of the Board or the President (should the President be a director) or, on the written request of any two directors, by the Secretary, in each case on at least twenty-four (24) hours personal, written, facsimile or other electronic-transmission notice to each director. Such notice, or any waiver thereof, need not state the purpose or purposes of such meeting, except as may otherwise be required by law or this Agreement. Meetings may be held at any time without notice if all the directors are present or if those not present waive notice of the meeting in writing.
(h) Election of Directors. Each director shall be elected by the Member and shall serve in such capacity until such directors successor has been elected and qualified or until such director dies, resigns, or is removed.
(i) Removal; Replacement. Any director or the entire Board of Directors may be removed, with or without cause by the Member. If a director dies, resigns or is removed, such directors replacement shall be selected by the Member.
(j) Vacancies; Increases in the Number of Directors. Vacancies existing on the Board of Directors for any reason and newly created directorships resulting from any increase in the authorized number of directors may be filled by the affirmative vote of a majority of the directors then in office, although less than a quorum, or by a sole remaining director; and any director so chosen shall hold office until the next annual election and until such directors successor shall have been elected and qualified, or until such directors earlier death, resignation or removal.
(k) Compensation. Directors and members of standing committees may receive such compensation as the Board of Directors from time to time shall determine to be appropriate, and shall be reimbursed for all reasonable expenses incurred in attending and returning from meetings of the Board of Directors.
(l) Action Without a Meeting; Telephone Conference Meetings.
(i) Any action required or permitted to be taken at any meeting of the Board of Directors, or any committee designated by the Board of Directors, may be taken without a meeting if all members of the Board of Directors or committee, as the case may be, consent thereto in writing, and the writing or writings are filed with the minutes of proceedings of the Board of Directors or committee. Such consent shall have the same force and effect as a unanimous vote at a meeting and may be stated as such in any document or instrument filed with the Secretary of State of the state of formation of the Company.
(ii) Subject to the requirement for notice of meetings, members of the Board of Directors or members of any committee designated by the Board of Directors may participate in a meeting of such Board of Directors or committee, as the case may be, by means of a conference telephone
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connection or similar communications equipment by means of which all persons participating in the meeting can hear each other, and participation in such a meeting shall constitute presence in person at such meeting, except where a person participates in the meeting for the express purpose of objecting to the transaction of any business on the ground that the meeting is not lawfully called or convened.
(m) Approval or Ratification of Acts or Contracts by the Member. The Board of Directors in its discretion may submit any act or contract for approval or ratification the Member and any act or contract that shall be approved or be ratified by the Member shall be valid and binding upon the Company.
(n) Committees. The Board of Directors may, by resolution passed by a majority of the whole Board of Directors, designate committees as it shall see fit consisting of one or more of the directors, one of whom shall be designated chairman of each such committee. Any such committee shall have and may exercise such powers and authority as provided in the resolution creating it and as determined from time to time by the Board of Directors.
(a) Number, Titles and Term of Office. The Board of Directors may appoint such officers of the Company as the Board of Directors may deem necessary or advisable to manage the day-to-day business affairs of the Company (collectively, the Officers). Officers may be given titles or may be designated as authorized persons. To the extent authorized by the Board of Directors, any Officer may act on behalf of, bind and execute and deliver documents in the name and on behalf of the Company and its subsidiaries.
(b) Removal. The Board of Directors may, in its sole discretion, remove any Officer with or without cause at any time, subject to any applicable employment agreement.
(a) The Company shall dissolve and its affairs shall be wound up at such time, if any, as the Member may elect. The Company shall also be dissolved, and its affairs shall be wound up, upon the first to occur of the following: (i) the termination of the legal existence of the last remaining member of the Company or the occurrence of any other event which terminates the continued membership of the last remaining member of the Company in the Company unless the Company is continued without dissolution in a manner permitted by this Agreement or the Act or (ii) the entry of a decree of judicial dissolution under Section 18-802 of the Act. Upon the occurrence of any event that causes the last remaining member of the Company to cease to be a member of the Company (other than upon continuation of the Company without dissolution upon (A) an assignment by the Member of all of its limited liability company interest in the Company and the admission of the transferee, or (B) the resignation of the Member and the admission of an additional member of the Company), to the fullest extent permitted by law, the personal representative of such member is hereby authorized to, and shall, within 90 days after the occurrence of the event that terminated the continued membership of such member in the Company, agree in writing (x) to continue the Company and (y) to the admission of the personal representative or its nominee or designee, as the case may be, as a substitute member of the Company, effective as of the occurrence of the event that terminated the continued membership of such member in the Company.
(b) Notwithstanding any other provision of this Agreement, the Bankruptcy of the Member shall not cause the Member to cease to be a member of the Company and upon the occurrence of such an event, the Company shall continue without dissolution. Bankruptcy means, with respect to any Person or entity, if such Person or entity (i) makes an assignment for the benefit of creditors, (ii) files a voluntary petition in bankruptcy, (iii) is adjudged a bankrupt or insolvent, or has entered against it an order for relief, in any bankruptcy or insolvency proceedings, (iv) files a petition or answer seeking for itself any reorganization, arrangement, composition, readjustment, liquidation or similar relief under any statute, law or regulation, (v) files an answer or other pleading admitting or failing to contest the material allegations of a petition filed against it in any proceeding of this nature, (vi) seeks, consents to or acquiesces in the appointment of a trustee, receiver or liquidator of the Person or entity or of all or any substantial part of its properties, or (vii) if 120 days after the commencement of any proceeding against the Person or entity seeking reorganization, arrangement, composition, readjustment, liquidation or similar relief under any statute, law or regulation, if the proceeding has not been dismissed, or if within 90 days after the appointment without such Persons or entitys consent or acquiescence of a trustee, receiver or liquidator of such Person or entity or of all or any substantial part of its properties, the appointment is not vacated or stayed, or within 90 days after the expiration of any such stay, the appointment is not vacated. The foregoing definition of Bankruptcy is intended to replace and shall supersede and replace the definition of Bankruptcy set forth in Sections 18-101(1) and 18-304 of the Act.
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(c) In the event of dissolution, the Company shall conduct only such activities as are necessary to wind up its affairs (including the sale of the assets of the Company in an orderly manner), and the assets of the Company shall be applied in the manner, and in the order of priority, set forth in Section 18-804 of the Act.
(d) The Company shall terminate when (i) all of the assets of the Company, after payment of or due provision for all debts, liabilities and obligations of the Company shall have been distributed to the Member in the manner provided for in this Agreement and (ii) the Certificate of Formation shall have been canceled in the manner required by the Act.
Section 13. Governing Law. THIS AGREEMENT IS GOVERNED BY AND SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE.
Section 14. Counterparts. This Agreement may be executed in any number of counterparts (including faxed counterparts) with the same effect as if all signing parties had signed the same document, and all such counterparts shall be construed together and constitute the same instrument.
(a) Ratification. The execution and filing with the Delaware Secretary of State of the Certificate of Formation by Adorys Velazquez is hereby ratified and confirmed. The existence of the Company as a separate legal entity shall continue until cancellation of the Certificate of Formation as provided in the Act.
(b) Assignment. The Member may assign in whole or in part its limited liability company interest in the Company. The transferee of a limited liability company interest in the Company shall be admitted to the Company as a member of the Company upon its execution of an instrument signifying its agreement to be bound by the terms and conditions of this Agreement, which instrument may be a counterpart signature page to this Agreement. If the Member transfers all of its limited liability company interest in the Company, such admission shall be deemed effective immediately prior to the transfer and, immediately following such admission, the transferor Member shall cease to be a member of the Company.
(c) Resignation. The Member may not resign or otherwise cease to be a member of the Company unless, prior thereto, a substitute Member has been admitted to the Company by executing an instrument signifying its agreement to be bound by the terms and conditions of this Agreement, which instrument may be a counterpart signature page to this Agreement.
Section 16. Limited Liability. Except as otherwise expressly provided by the Act, the debts, obligations and liabilities of the Company, whether arising in contract, tort or otherwise, shall be the debts, obligations and liabilities solely of the Company, and the Member shall not be obligated personally for any such debt, obligation or liability of the Company solely by reason of being a Member of the Company.
Section 17. Severability. Each provision of this Agreement shall be considered severable and if for any reason any provision or provisions herein are determined to be invalid, unenforceable or illegal under any existing or future law, such invalidity, unenforceability or illegality shall not impair the operation of or affect those portions of this Agreement which are valid, enforceable and legal.
Section 18. Indemnification. The directors and officers of the Company shall not be liable or accountable in damages or otherwise to the Company for any act or omission done or omitted by such director or such officer in good faith, unless such act or omission constitutes gross negligence, willful misconduct, or a breach of this Agreement on the part of the directors or officers of the Company. The Company shall indemnify the directors or officers of the Company to the fullest extent permitted by law against any loss, liability, damage, judgment, demand, claim, cost or expense incurred by or asserted against the directors or officers of the Company (including, without limitation, reasonable attorneys fees and disbursements incurred in the defense thereof) arising out of any act or omission of the directors or officers in connection with the Company, unless such act or omission constitutes bad faith, gross negligence or willful misconduct on the part of the directors or officers of the Company.
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IN WITNESS WHEREOF, the undersigned has executed this Agreement as of the date first written above.
MEMBER: | ||
PBFWR LOGISTICS HOLDING LLC | ||
By: | /s/ Trecia Canty | |
Name: Trecia Canty | ||
Title: Senior Vice President, General Counsel | ||
and Secretary |
Signature Page
of LLC Agreement
FORM OF MEMBERSHIP INTEREST CERTIFICATE
THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933, AS AMENDED (THE SECURITIES ACT), AND MAY NOT BE OFFERED OR SOLD, UNLESS IT HAS BEEN REGISTERED UNDER THE SECURITIES ACT OR UNLESS AN EXEMPTION FROM REGISTRATION IS AVAILABLE (AND, IN SUCH CASE, AN OPINION OF COUNSEL REASONABLY SATISFACTORY TO THE COMPANY SHALL HAVE BEEN DELIVERED TO THE COMPANY TO THE EFFECT THAT SUCH OFFER OR SALE IS NOT REQUIRED TO BE REGISTERED UNDER THE SECURITIES ACT).
Membership Interest Certificate in Martinez Terminal Company LLC
Certificate No. [ ] | [100]% of Membership Interests |
Martinez Terminal Company LLC, a Delaware limited liability company (the Company), hereby certifies that PBFWR Logistics Holding Company LLC (the Holder) is the registered owner of 100% of the Membership Interests in the Company (the Membership Interests). The rights, preferences and limitations of the Membership Interests are set forth in the Amended and Restated Limited Liability Company Agreement of the Company, effective as of May 7, 2020, as amended, supplemented or restated from time to time (the Agreement), a copy of which is on file at the principal office of the Company.
By acceptance of this Certificate, and as a condition to being entitled to any rights and/or benefits with respect to the Membership Interests evidenced hereby, the Holder is deemed to have agreed to comply with and be bound by all the terms and conditions of the Agreement. The Company will furnish a copy of the Agreement to the Holder without charge upon written request to the Company at its principal place of business. The Company maintains books for the purpose of registering the transfer of Interests.
Each limited liability company interest in the Company shall constitute a security within the meaning of, and governed by, (i) Article 8 of the Uniform Commercial Code (including Section 8 102(a)(15) thereof) as in effect from time to time in the State of Delaware, and (ii) Article 8 of the Uniform Commercial Code of any other applicable jurisdiction that now or hereafter substantially includes the 1994 revisions to Article 8 thereof as adopted by the American Law Institute and the National Conference of Commissioners on Uniform State Laws and approved by the American Bar Association on February 14, 1995.
This Certificate shall be governed by and construed in accordance with the laws of the State of Delaware without regard to principles of conflicts of laws.
IN WITNESS WHEREOF, the Company has caused this Certificate to be executed by its authorized officer as of the date set forth below.
Dated:
By: |
| |
Name: | ||
Title: |
A-1