Port of LA

5. RESOLUTION NO. _______________ - APPROVE THE CONSENT TO MERGER OF\nPERMIT NO. 931 AND APPROVE THE ORDER CONSENTING TO THE MERGER OF\nPRAXAIR, INC, THE TENANT UNDER PERMIT NO. 931\nSummary: Staff requests approval of the Consent to Merger of Permit No. 931 (Permit) between\nPraxair, Inc., now known as Linde Inc., and the City of Los Angeles Harbor Department (Harbor\nDepartment). In February 2018, at the time of presenting the successor Praxair Permit for\napproval, staff informed the Board of the pending merger between Praxair and Linde awaiting\napproval by regulatory agencies. The merger has been completed as further described below;\nPraxair, now known as Linde Inc. (Linde) has affirmed and given assurances that it is and shall\ncontinue to be bound by and assume and perform all the obligations, terms conditions and\ncovenants of Tenant under Permit No. 931 from the effective date of the Permit. Staff has\nreviewed financial information pertaining to Linde (formerly known as Praxair) and has observed,\namong other things, that key liquidity, leverage, and profitability metrics have all improved, and\nit appears that Linde continues to possess a sufficient amount of financial wherewithal to fulfill\nits obligations under Permit No. 931.\nRecommendation: Board resolve to (1) find that the Director of Environmental Management has\ndetermined that the proposed action is administratively and categorically exempt from the\nrequirements of the California Environmental Quality Act (CEQA) under Article II Section 2(f)\nand Article III Class 1(14) of the Los Angeles City CEQA Guidelines; (2) approve the Consent to\nMerger - Permit No. 931; (3) approve the Order accompanying the Consent to Merger - Permit\nNo. 931; (4) authorize the Executive Director to execute and the Board Secretary to attest to the\nConsent to Merger – Permit No. 931; (5) authorize the Board Secretary to attest to the Order;\nand (6) adopt Resolution No.____________.\nWaterfront & Commercial Real Estate