Certain Provisions of the ENLK Partnership Agreement

9 Months Ended

Sep. 30, 2021

Partners' Capital [Abstract]

Certain Provisions of the ENLK Partnership Agreement

(7) Certain Provisions of the ENLK Partnership Agreement

a.Series B Preferred Units

As of September 30, 2021 and December 31, 2020, there were 60,650,397 and 60,197,784 Series B Preferred Units issued and outstanding, respectively.

On August 4, 2021, Enfield Holdings, L.P. (“Enfield”) sold all of its Series B Preferred Units and Class C Common Units representing limited liability company interests in ENLC to Brookfield Infrastructure Partners and funds managed by Oaktree Capital Management, L.P. As a result of this sale, the right of holders of Series B Preferred Units and Class C Common Units to designate a representative to the board of directors of the Managing Member was terminated.

A summary of the distribution activity relating to the Series B Preferred Units during the nine months ended September 30, 2021 and 2020 is provided below:

Declaration period	Distribution paid as additional Series B Preferred Units	Cash Distribution (in millions)		Date paid/payable
2021
Fourth Quarter of 2020	150,494	$	16.9	February 12, 2021
First Quarter of 2021	150,871	$	17.0	May 14, 2021
Second Quarter of 2021	151,248	$	17.0	August 13, 2021
Third Quarter of 2021	151,626	$	17.1	November 12, 2021
2020
Fourth Quarter of 2019	148,999	$	16.8	February 13, 2020
First Quarter of 2020	149,371	$	16.8	May 13, 2020
Second Quarter of 2020	149,745	$	16.8	August 13, 2020
Third Quarter of 2020	150,119	$	16.9	November 13, 2020

b.Series C Preferred Units

As of September 30, 2021 and December 31, 2020, there were 400,000 Series C Preferred Units issued and outstanding, respectively. ENLK distributed $12.0 million to holders of Series C Preferred Units during the nine months ended September 30, 2021 and 2020, respectively.