Exhibit 10.1
UNIT PURCHASE AGREEMENT
by and among
MARKWEST ENERGY PARTNERS, L.P.,
MARKWEST ENERGY GP, L.L.C.
AND
THE PURCHASERS PARTY HERETO
UNIT PURCHASE AGREEMENT
UNIT PURCHASE AGREEMENT, dated as of
December 18, 2007 (this “ Agreement ”), by
and among MARKWEST ENERGY PARTNERS, L.P. (“ MarkWest
”), MARKWEST ENERGY GP, L.L.C. (“ MarkWest GP
”) (solely for purposes of Section 6.12) and each of the
purchasers set forth on Schedule 2.02 hereof (each a “
Purchaser ” and collectively, the “
Purchasers ”).
In
consideration of the mutual covenants and agreements set forth
herein and for good and valuable consideration, the receipt of
which is hereby acknowledged, the parties hereby agree as
follows:
ARTICLE I
DEFINITIONS
Section 1.01
Definitions . As used in this Agreement, and unless
the context requires a different meaning, the following terms have
the meanings indicated:
“ Action ” against a Person
means any lawsuit, action, proceeding, investigation or complaint
before any Governmental Authority, mediator or
arbitrator.
“ Affiliate ” means, with
respect to a specified Person, any other Person, directly or
indirectly controlling, controlled by or under direct or indirect
common control with such specified Person. For purposes of
this definition, “control” (including, with correlative
meanings, “controlling,” “controlled by,”
and “under common control with”) means the power to
direct or cause the direction of the management and policies of
such Person, directly or indirectly, whether through the ownership
of voting securities, by contract or otherwise.
“ Agreement ” has the
meaning set forth in the introductory paragraph.
“ Basic Documents ” means,
collectively, this Agreement, the Registration Rights Agreement,
and any and all other agreements or instruments executed and
delivered to the Purchasers by MarkWest or any Subsidiary of
MarkWest hereunder or thereunder.
“ Business Day ” means any
day other than a Saturday, Sunday, or a legal holiday for
commercial banks in New York, New York.
“ Closing ” shall have the
meaning specified in Section 2.02.
“ Closing Date ” shall have
the meaning specified in Section 2.02.
“ Commission ” means the
United States Securities and Exchange Commission.
“ Common Units ” means the
common units of MarkWest.
“ Confidential Information ”
means all oral or written information, documents, records and data
that MarkWest or its Representatives furnishes or otherwise
discloses to a Purchaser or any of its Representatives, together
with all copies, extracts, analyses, compilations,
studies,
memoranda, notes or other documents, records or
data (in whatever form maintained, whether documentary, computer or
other electronic storage or otherwise) prepared by any Person that
contain or otherwise reflect or are generated from such
information, documents, records, or data. The term
“Confidential Information” does not include any
information that (a) at the time of disclosure or thereafter
is generally available to the public (other than as a result of a
disclosure by such Purchaser or its Representatives), (b) is
developed by such Purchaser or any of its Representatives,
independent of, and without reliance in whole or in part on, any
Confidential Information or any knowledge of Confidential
Information, (c) becomes available to such Purchaser or its
Representatives on a non-confidential basis from a source other
than MarkWest or its Representatives who, insofar as is known to
the recipient after reasonable inquiry, is not prohibited from
transmitting the information to the recipient by a contractual,
legal, fiduciary or other obligation to MarkWest or (d) was
available to such Purchaser or its Representatives on a
non-confidential basis prior to its disclosure to such Purchaser or
its Representatives by MarkWest or its Representatives.
“ Exchange Act ” means the
Securities Exchange Act of 1934, as amended from time to time, and
the rules and regulations of the Commission promulgated
thereunder.
“ Form 8-A ” shall have
the meaning set forth in Section 3.02(a).
“ GAAP ” means generally
accepted accounting principles in the United States of America in
effect from time to time.
“ Governmental Authority ”
means, with respect to a particular Person, the country, state,
county, city and political subdivisions in which such Person or
such Person’s Property is located or which exercises valid
jurisdiction over any such Person or such Person’s Property,
and any court, agency, department, commission, board, bureau or
instrumentality of any of them and any monetary authority which
exercises valid jurisdiction over any such Person or such
Person’s Property. Unless otherwise specified, all
references to Governmental Authority herein with respect to
MarkWest means a Governmental Authority having jurisdiction over
MarkWest, its Subsidiaries or any of their respective
Properties.
“ Hydrocarbon Acquisition ”
means the transactions contemplated by the Hydrocarbon Purchase
Agreement.
“ Hydrocarbon Purchase Agreement
” means the Agreement and Plan of Redemption and Merger,
dated as of September 5, 2007 by and among MarkWest
Hydrocarbon, Inc., MarkWest and MWEP, L.L.C.
“ Indemnified Party ” shall
have the meaning specified in Section 6.02(c).
“ Indemnifying Party ” shall
have the meaning specified in Section 6.02(c).
“ Knowledge ” means the
actual knowledge of the individuals listed on
Schedule 1.01 hereto after reasonable
inquiry.
“ Law ” means any federal,
state, local or foreign order, writ, injunction, judgment,
settlement, award, decree, statute, law, rule or
regulation.
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“ Lien ” means any lien,
encumbrance, security interest, charge or other interest in
Property securing an obligation owed to, or a claim by, a Person
other than the owner of the Property, whether such interest is
based on the common law, statute or contract, and whether such
obligation or claim is fixed or contingent, and including but not
limited to the lien or security interest arising from a mortgage,
encumbrance, pledge, security agreement, conditional sale or trust
receipt or a lease, consignment or bailment for security purposes.
For the purpose of this Agreement, a Person shall be deemed to be
the owner of any Property which it has acquired or holds subject to
a conditional sale agreement, or leases under a financing lease or
other arrangement pursuant to which title to the Property has been
retained by or vested in some other Person in a transaction
intended to create a financing.
“ MarkWest ” has the meaning
set forth in the introductory paragraph.
“ MarkWest Financial Statements
” means the financial statement or statements described or
referred to in Section 3.03.
“ MarkWest GP ” has the
meaning set forth in the introductory paragraph.
“ MarkWest Material Adverse Effect
” means any material and adverse effect on (a) the
assets, liabilities, financial condition, business, operations or
affairs of MarkWest and its Subsidiaries taken as a whole measured
against those assets, liabilities, financial condition, business,
operations or affairs reflected in the MarkWest SEC Documents filed
with the Commission prior to the date hereof or from the facts
represented or warranted in any Basic Document, or (b) the
ability of MarkWest to fulfill any of its obligations under or
consummate any of the transactions contemplated by the Basic
Documents.
“ MarkWest Related Parties ”
shall have the meaning specified in
Section 6.02(b).
“ MarkWest SEC Documents ”
shall have the meaning specified in Section 3.03.
“ Partnership Agreement ”
means the Second Amended and Restated Agreement of Limited
Partnership of MarkWest, dated as of February 28,
2007.
“ Partnership Securities ”
means any class or series of equity interest in MarkWest (but
excluding any options, rights, warrants and appreciation rights
relating to an equity interest in MarkWest), including without
limitation Common Units and Incentive Distribution Rights (as
defined in the Partnership Agreement).
“ Permits ” means, with
respect to MarkWest or any of its Subsidiaries, any licenses,
permits, variances, consents, authorizations, waivers, grants,
franchises, concessions, exemptions, orders, registrations and
approvals of Governmental Authorities or other Persons necessary
for the ownership, leasing, operation, occupancy and use of its
Properties and the conduct of its businesses as currently
conducted.
“ Person ” means any
individual, corporation, company, voluntary association,
partnership, joint venture, trust, limited liability company,
unincorporated organization or government or any agency,
instrumentality or political subdivision thereof, or any other form
of entity.
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“ Property ” means any
interest in any kind of property or asset, whether real, personal
or mixed, or tangible or intangible.
“ Purchase Price ” means,
with respect to a particular Purchaser, the monetary purchase
amount set forth opposite such Purchaser’s name under the
column entitled “Total Purchase Price” on Schedule
2.02 hereto.
“ Purchased Units ” means,
with respect to a particular Purchaser, the number of Common Units
set forth opposite such Purchaser’s name under the column
entitled “Units Purchased” set forth on Schedule
2.02 hereto.
“ Purchaser ” and “
Purchasers ” each has the meaning set forth in the
introductory paragraph.
“ Purchaser Material Adverse
Effect ” means, with respect to a particular Purchaser,
any material and adverse effect on (a) the assets,
liabilities, financial condition, business, operations or affairs
of such Purchaser, (b) the ability of such Purchaser to carry
out its business as of the date hereof or to meet its obligations
under the Basic Documents on a timely basis or (c) the ability
of such Purchaser to consummate the transactions under any Basic
Document.
“ Purchaser Related Parties
” shall have the meaning specified in
Section 6.02(a).
“ Registration Rights Agreement
” means the Registration Rights Agreement, to be entered into
at the Closing, among MarkWest and the Purchasers in the form
attached hereto as Exhibit A.
“ Representatives ” of any
Person means the officers, directors, employees, agents, counsel,
investment bankers and other representatives of such
Person.
“ Securities Act ” means the
Securities Act of 1933, as amended from time to time, and the
rules and regulations of the Commission promulgated
thereunder.
“ Short Sales ” means,
without limitation, all “short sales” as defined in
Rule 200 promulgated under Regulation SHO under the Exchange
Act, whether or not against the box, and forward sale contracts,
options, puts, calls, short sales, “put equivalent
positions” (as defined in Rule 16a-1(h) under the
Exchange Act) and similar arrangements, and sales and other
transactions through non-U.S. broker dealers or foreign regulated
brokers.
“ Subsidiary ” means, as to
any Person, any corporation or other entity of which: (i) such
Person or a Subsidiary of such Person is a general partner or
manager; or (ii) at least a majority of the outstanding equity
interest having by the terms thereof ordinary voting power to elect
a majority of the board of directors or similar governing body of
such corporation or other entity (irrespective of whether or not at
the time any equity interest of any other class or classes of such
corporation or other entity shall have or might have voting power
by reason of the happening of any contingency) is at the time
directly or indirectly owned or controlled by such Person or one or
more of its Subsidiaries.
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“ Tax ” means any tax,
charge, fee, levy, penalty or other assessment imposed by any U.S.
federal, state, local or foreign taxing authority, including any
excise, property, income, sales, transfer, franchise, payroll,
withholding, social security or other tax, including any interest,
penalties or additions attributable thereto.
“ Tax Return ” means any
return, report, information return, declaration, claim for refund
or other document (including any related or supporting information)
supplied or required to be supplied to any authority with respect
to Taxes and including any supplement or amendment
thereof.
“ Unit Price ” shall have
the meaning set forth in Section 2.04.
Section 1.02
Accounting Procedures and Interpretation . Unless
otherwise specified herein, all accounting terms used herein shall
be interpreted, all determinations with respect to accounting
matters hereunder shall be made, and all MarkWest Financial
Statements and certificates and reports as to financial matters
required to be furnished to the Purchasers hereunder shall be
prepared, in accordance with GAAP applied on a consistent basis
during the periods involved (except, in the case of unaudited
statements, as permitted by Form 10-Q promulgated by the
Commission) and in compliance as to form in all material respects
with applicable accounting requirements and with the published
rules and regulations of the Commission with respect
thereto.
ARTICLE II
AGREEMENT TO SELL
AND PURCHASE
Section 2.01
Sale and Purchase . Subject to the terms and
conditions hereof, at the Closing (as defined in Section 2.02)
MarkWest hereby agrees to issue and sell to each Purchaser, and
each Purchaser hereby agrees to purchase from MarkWest, such
Purchaser’s Purchased Units, and each Purchaser agrees to pay
MarkWest such Purchaser’s Purchase Price. The obligation of
each Purchaser hereunder is several and not joint and is
independent of the obligation of each other Purchaser, and the
failure of, or MarkWest’s waiver of, performance by any
Purchaser does not excuse performance by any other Purchaser or
MarkWest.
Section 2.02
Closing . Subject to the terms and conditions hereof,
the consummation of the purchase and sale of the Purchased Units
hereunder (the “ Closing ”) shall take place on
December 18, 2007 (such date, the “ Closing Date
”) at the offices of Vinson & Elkins, L.L.P., 1001
Fannin Street, Suite 2500, Houston, Texas 77002. Each of
the items to be delivered, as set forth in Section 2.03, shall
be delivered by the responsible party on the Closing
Date.
Section 2.03
Deliveries .
(a)
At the Closing, subject to the terms and conditions hereof,
MarkWest will deliver, or cause to be delivered, to each
Purchaser:
(i)
The Purchased Units to be purchased by such Purchaser by delivery
of certificates evidencing such Purchased Units at the Closing
meeting the requirements of the Partnership Agreement, all free and
clear of any Liens, encumbrances or interests of any other
Person;
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(ii)
A certificate of the Secretary of State of the State of Delaware,
dated as of a recent date, that each of MarkWest, MarkWest GP and
MarkWest Energy Operating Company, L.L.C. is in good
standing;
(iii)
An opinion addressed to the Purchasers from Vinson &
Elkins L.L.P., dated as of the Closing Date, in the form and
substance attached hereto as Exhibit C;
(iv)
The Registration Rights Agreement, which shall have been duly
executed by MarkWest.
(b)
At the Closing, subject to the terms and conditions hereof, each
Purchaser will deliver, or cause to be delivered to
MarkWest.
(i)
The Registration Rights Agreement, which shall have been duly
executed by each such Purchaser; and
(ii)
Such Purchaser’s Purchase Price by wire transfer of
immediately available funds to an account designated by MarkWest in
writing prior to the Closing.
Section 2.04
Consideration . The amount per Common Units each
Purchaser will pay to MarkWest to purchase the Common Units
comprising the Purchased Units shall be $31.50 per Common Unit (the
“ Unit Price ”).
Section 2.05
Independent Nature of Purchasers’ Obligations and
Rights .
The obligations of each
Purchaser under any Basic Document are several and not joint with
the obligations of any other Purchaser, and no Purchaser shall be
responsible in any way for the performance of the obligations of
any other Purchaser under any Basic Document. Nothing
contained herein or in any Basic Document, and no action taken by
any Purchaser pursuant thereto, shall be deemed to constitute the
Purchasers as a partnership, an association, a joint venture or any
other kind of entity, or create a presumption that the Purchasers
are in any way acting in concert or as a group with respect to such
obligations or the transactions contemplated by the Basic
Document. Each Purchaser shall be entitled to independently
protect and enforce its rights, including without limitation, the
rights arising out of this Agreement or out of the other Basic
Documents, and it shall not be necessary for any other Purchaser to
be joined as an additional party in any proceeding for such
purpose. Each Purchaser has been represented by its own
separate legal counsel in their review and negotiation of the Basic
Documents. MarkWest has elected to provide all
Purchasers with the same material terms and Basic Documents for the
convenience of MarkWest and not because it was required or
requested to do so by the Purchasers.
Section 2.06
Lock-up .
(a)
MarkWest agrees that from and after Closing, other than (i) in
connection with the Hydrocarbon Acquisition or (ii) pursuant
to MarkWest’s Long-Term Incentive Plan and MarkWest’s
other equity compensation plans, as described in MarkWest’s
Annual Report on Form 10-K for the period ended
December 31, 2006, it will not sell,
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nor will it permit any
of its Affiliates to offer, sell, contract to sell, pledge or
otherwise dispose of, or enter into any transaction which is
designed to, or might reasonably be expected to, result in the
disposition of any Common Units prior to the date which is 90 days
from the Closing Date.
(b)
Each Purchaser agrees that from and after Closing it will not
offer, sell, contract to sell, pledge or otherwise dispose of, or
enter into any transaction which is designed to, or might
reasonably be expected to, result in the disposition of any of the
Purchased Units prior to the date which is 90 days from the Closing
Date; provided , however , that any Purchaser may
(i) pledge its Purchased Units in connection with a bona fide
margin account or other loan or financing arrangement secured by
such Purchaser’s Purchased Units or (ii) enter into a
cash settled derivative, total return swap or similar transaction,
in each case, with respect to the Purchased Units purchased by
it.
ARTICLE III
REPRESENTATIONS AND
WARRANTIES RELATED TO MARKWEST
MarkWest represents and warrants to each
Purchaser as follows:
Section 3.01
Corporate Existence . MarkWest: (a) is a limited
partnership duly organized, legally existing and in good standing
under the laws of the State of Delaware; and (b) has all
requisite power and authority, and has all governmental licenses,
authorizations, consents and approvals necessary, to own, lease,
use and operate its Properties and carry on its business as its
business is now being conducted, except where the failure to obtain
such licenses, authorizations, consents and approvals would not be
reasonably likely to have a MarkWest Material Adverse Effect.
Each of MarkWest’s Subsidiaries that is a corporation is a
corporation duly incorporated, validly existing and in good
standing under the laws of the State or other jurisdiction of its
incorporation and has all requisite power and authority, and has
all governmental licenses, authorizations, consents and approvals
necessary, to own, lease, use or operate its respective Properties
and carry on its business as now being conducted, except where the
failure to obtain such licenses, authorizations, consents and
approvals would not be reasonably likely to have a MarkWest
Material Adverse Effect. Each Subsidiary of MarkWest that is
not a corporation has been duly formed, is validly existing and in
good standing under the laws of the State or other jurisdiction of
its formation and has all requisite power and authority, and has
all governmental licenses, authorizations, consents and approvals
necessary, to own, lease, use or operate its respective Properties
and carry on its business as now being conducted, except where the
failure to obtain such licenses, authorizations, consents and
approvals would not be reasonably likely to have a MarkWest
Material Adverse Effect. None of MarkWest or any of its
Subsidiaries are in default in the performance, observance or
fulfillment of any provision of, in the case of MarkWest, the
Partnership Agreement or its Certificate of Limited Partnership or,
in the case of any Subsidiary of MarkWest, its respective
certificate of incorporation, bylaws or other similar
organizational documents. Each of MarkWest and its
Subsidiaries is duly qualified or licensed and in good standing as
a foreign corporation or other entity, and is authorized to do
business, in each jurisdiction in which the ownership or leasing of
its respective Properties or the character of its respective
operations makes such qualification necessary, except where the
failure to obtain such qualification, license, authorization or
good standing would not be reasonably likely to have a MarkWest
Material Adverse Effect.
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Section 3.02
Capitalization and Valid Issuance of Purchased Units
.
(a)
As of the date hereof, the issued and outstanding limited partner
interests of MarkWest consist of 36,500,445 Common
Units. The
only issued and outstanding general partner interests of MarkWest
are the interests of the General Partner described and as defined
in the Partnership Agreement. All outstanding Common Units and the limited
partner interests represented thereby have been duly authorized and
validly issued in accordance with the Partnership Agreement and are
fully paid (to the extent required under the Partnership Agreement)
and nonassessable (except as such nonassessability may be affected
by matters described under the caption “The Partnership
Agreement-Limited Liability” in MarkWest’s registration
statement on Form S-1 (No. 333-81780) which is
incorporated by reference into the Partnership’s Registration
Statement on Form 8-A (File No. 001-31239) (the “
Form 8-A ”)).
(b)
Other than MarkWest’s Long-Term Incentive Plan and
MarkWest’s other equity compensation plans, as described in
MarkWest’s Annual Report on Form 10-K for the period
ended December 31, 2006, MarkWest has no equity compensation
plans that contemplate the issuance of Common Units (or securities
convertible into or exchangeable for Common Units). No
indebtedness having the right to vote (or convertible into or
exchangeable for securities having the right to vote) on any
matters on which MarkWest unitholders may vote is issued or
outstanding. Except as set forth in the first sentence of
this Section 3.02(b), as are contained in the Partnership
Agreement or as contemplated by the Hydrocarbon Purchase Agreement
and disclosed in the joint proxy statement/prospectus that is part
of the Registration Statement on Form S-4 filed with the
Commission on November 11, 2007 (File No. 333-147370),
there are no outstanding or authorized (i) options, warrants,
preemptive rights, subscriptions, calls, or other rights,
convertible securities, agreements, claims or commitments of any
character obligating MarkWest or any of its Subsidiaries to issue,
transfer or sell any partnership interests or other equity interest
in, MarkWest or any of its Subsidiaries or securities convertible
into or exchangeable for such partnership interests or equity
interests, (ii) obligations of MarkWest or any of its
Subsidiaries to repurchase, redeem or otherwise acquire any
partnership interests or equity interests of MarkWest or any of its
Subsidiaries or any such securities or agreements listed in clause
(i) of this sentence or (iii) voting trusts or similar
agreements to which MarkWest or any of its Subsidiaries is a party
with respect to the voting of the equity interests of MarkWest or
any of its Subsidiaries. At the Closing, except as described
in this Section 3.02(b) and as contemplated by the
Hydrocarbon Purchase Agreement, there will not be any outstanding
subscriptions, options, warrants, calls, preemptive rights,
subscriptions, or other rights, convertible or exchangeable
securities, agreements, claims or commitments of any character by
which MarkWest or any of its Subsidiaries will be bound calling for
the purchase or issuance of any partnership interests of MarkWest
or any equity interest of any of its Subsidiaries or securities
convertible into or exchangeable for such partnership or equity
interests or any other such securities or agreements. Neither
the offering or sale of the Purchased Units nor registration of the
Purchased Units pursuant to the Registration Rights Agreement gives
rise to any rights for or relating to the registration of any
Common Units or other securities of MarkWest.
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(c)
(i) All of the issued and outstanding equity interests of each
of MarkWest’s Subsidiaries are owned, directly or indirectly,
by MarkWest free and clear of any Liens (except for such
restrictions as may exist under applicable Law and except for such
Liens as may be imposed under MarkWest’s or MarkWest’s
Subsidiaries’ credit facilities), and all such ownership
interests have been duly authorized, validly issued and are fully
paid (to the extent required in the organizational documents of
MarkWest’s Subsidiaries, as applicable) and non-assessable
(except as nonassessability may be affected by Section 6.07 of
the Texas Revised Uniform Limited Partnership Act,
Section 18-607 of the Delaware Limited Liability Company Act,
Section 17-607 of the Delaware Revised Uniform Limited
Partnership Act, Section 450.4307 of the Michigan Limited
Liability Company Act, Section 2030 of the Oklahoma Limited
Liability Company Act or the organizational documents of
MarkWest’s Subsidiaries, as applicable) and free of
preemptive rights, with no personal liability attaching to the
ownership thereof, and (ii) as of the date hereof, neither
MarkWest nor any of its Subsidiaries owns any shares of capital
stock or other securities of, or interest in, any other Person, or
is obligated to make any capital contribution to or other
investment in any other Person. The material Subsidiaries of
MarkWest are set forth on Schedule 3.02 hereto.
(d)
The Common Units being purchased by the Purchasers hereunder and
the limited partner interests represented thereby, are duly
authorized by the Partnership Agreement and, when issued and
delivered to the Purchasers against payment therefor in accordance
with the terms of this Agreement, will be validly issued, fully
paid (to the extent required by the Partnership Agreement) and
nonassessable (except as such nonassessability may be affected by
matters described under the caption “The Partnership
Agreement—Limited Liability” in MarkWest’s
registration statement on Form S-1 (No. 333-81780) which
is incorporated by reference into the Form 8-A) and will be
free of any and all Liens and restrictions on transfer, other than
restrictions on transfer under the Partnership Agreement and under
applicable state and federal securities laws and other than such
Liens as are created by the Purchaser.
(e)
The Common Units are listed on the New York Stock
Exchange.
(f)
Correct and complete copies of the Partnership Agreement and
MarkWest’s certificate of limited partnership are attached
hereto as Exhibit B.
Section 3.03
MarkWest SEC Documents . MarkWest has filed with the
Commission all forms, registration statements, reports, schedules
and statements required to be filed by it under the Exchange Act or
the Securities Act (all such documents, collectively “
MarkWest SEC Documents ”) and, since October 11,
2005, all such reports and statements have been timely filed.
The MarkWest SEC Documents, including, without limitation, any
audited or unaudited financial statements and any notes thereto or
schedules included therein (the “ MarkWest Financial
Statements ”), at the time filed (in the case of
registration statements, solely on the dates of effectiveness)
(except to the extent corrected by a subsequently filed MarkWest
SEC Document filed prior to the date hereof) (a) did not
contain any untrue statement of a material fact or omit to state a
material fact required to be stated therein or necessary in order
to make the statements therein, in light of the circumstances under
which they were made, not misleading, (b)
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complied in all material respects with the
applicable requirements of the Exchange Act and the Securities Act,
as the case may be, (c) complied as to form in all material
respects with applicable accounting requirements and with the
published rules and regulations of the Commission with respect
thereto, (d) were prepared in accordance with GAAP applied on
a consistent basis during the periods involved (except as may be
indicated in the notes thereto or, in the case of unaudited
statements, as permitted by Form 10-Q of the Commission), and
(e) fairly present (subject in the case of unaudited
statements to normal, recurring and year-end audit adjustments) in
all material respects the consolidated financial position and
status of the business of MarkWest as of the dates thereof and the
consolidated results of its operations and cash flows for the
periods then ended. PricewaterhouseCoopers LLP,
MarkWest’s former public accounting firm, is an independent
public accounting firm with respect to MarkWest and did not resign
and was not dismiss
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