XML 46 R21.htm IDEA: XBRL DOCUMENT v3.10.0.1
Subsequent Events
12 Months Ended
Dec. 31, 2018
Subsequent Events [Abstract]  
Subsequent Event(s) Subsequent Event(s)
We have evaluated events that occurred after December 31, 2018 through the issuance of these consolidated financial statements. Any material subsequent events that occurred during this time have been properly recognized or disclosed in the consolidated financial statements and accompanying notes.
Distribution
On January 24, 2019, the Board declared a cash distribution of $0.4000 per limited partner unit for the three months ended December 31, 2018. The distribution was paid on February 14, 2019 to unitholders of record as of February 4, 2019. 
Omnibus
On February 19, 2019, we, our general partner, SPLC, Shell Midstream Operating LLC and Shell Oil Company terminated the Omnibus Agreement effective as of February 1, 2019, and we, our general partner, SPLC and Shell Midstream Operating LLC entered into a new Omnibus Agreement effective February 1, 2019. The new Omnibus Agreement (i) removes indemnities that have expired; (ii) includes updates for additional assets acquired; and (iii) increases the administrative fee payable to SPLC to $10.5 million. On February 19, 2019, we, our general partner and Shell Trademark Management Inc. entered into a Trade Marks License Agreement granting us the use of certain Shell trademarks and trade names. The Trade Marks License Agreement is effective as of February 1, 2019 and will expire on January 1, 2024 unless earlier terminated by either party upon 360 days’ notice. The foregoing description of the Omnibus Agreement Termination Agreement, the new Omnibus Agreement and the Trade Marks License Agreement is not complete and is qualified in its entirety by reference to the full text of the Omnibus Agreement Termination Agreement, the new Omnibus Agreement and the Trade Marks License Agreement, filed as Exhibits 10.17, 10.18 and 10.19, respectively, and are each incorporated herein by reference.