Table of Contents
DESCRIPTION OF THE COMMON UNITS
Our common units represent non-managing membership interests in EnLink Midstream, LLC. Our unitholders are entitled to participate in
cash distributions and exercise the rights and privileges available to non-managing members under our operating agreement. The following summary of our common units, our certificate of formation, and
our operating agreement does not purport to be complete and is qualified in its entirety by reference to the provisions of applicable law and to our certificate of formation and our operating
agreement which are filed as exhibits to the
registration statement of which this prospectus is a part. Our common units are traded on the NYSE under the symbol "ENLC."
Transfer Agent and Registrar
American Stock Transfer & Trust Company, LLC serves as registrar and transfer agent for our common units. We pay all fees charged
by the transfer agent for transfers of our common units except the following, which must be paid by our unitholders:
- surety bond premiums to replace lost or stolen certificates, taxes, and other governmental charges;
- special charges for services requested by a unitholder; and
- other similar fees or charges.
will be no charge to our unitholders for disbursements of cash distributions by us. We will indemnify the transfer agent, its agents, and each of their stockholders, directors,
officers, and employees against all claims and losses that may arise out of acts performed or omitted for its activities in that capacity, except for any liability due to any gross negligence or
intentional misconduct of the indemnified person or entity.
The transfer agent may resign by providing us notice. We may also remove the transfer agent. The resignation or removal of the transfer agent
will become effective upon our appointment of a successor transfer agent and registrar and its acceptance of the appointment. If no successor is appointed, our managing member may act as the transfer
agent and registrar until a successor is appointed.
Transfer of Our Common Units
By transfer of our common units in accordance with our operating agreement, each transferee of our common units will be admitted as a
non-managing member with respect to our common units transferred when such transfer is reflected in our books and records and such transferee becomes the record holder of our common units transferred.
- represents that the transferee has the capacity, power, and authority to become bound by our operating agreement;
- automatically becomes bound by the terms of our operating agreement; and
- gives the consents, acknowledgements, and waivers contained in our operating agreement, such as the approval of all transactions and agreements
entered into in connection with our formation.