For a discussion of risk factors, please read Item 1A, "Risk Factors" in the 2020 Form 10-K.
−Removed: The information below includes additional risks relating to the COVID-19 pandemic.
−Removed: The risks described below and in other documents that we file from time to time with the Securities and Exchange Commission could materially and adversely affect our business, results of operations, cash flow, liquidity or financial condition.
−Removed: OpCo is subject to the credit risk of Westlake on a substantial majority of its revenues, and Westlake's leverage and creditworthiness could adversely affect our ability to make distributions to our unitholders.
−Removed: The ongoing coronavirus (COVID-19) pandemic could materially adversely affect Westlake's business, financial condition and results of operations.
−Removed: Our ability to make distributions to unitholders is substantially dependent on Westlake's ability to meet its minimum contractual obligations under the Ethylene Sales Agreement.
−Removed: If Westlake defaults on its obligations, our ability to make distributions to our unitholders could be reduced or eliminated.
−Removed: Westlake has not pledged any assets to us as security for the performance of its obligations.
−Removed: Westlake has not agreed with us to limit its ability to incur indebtedness, pledge or sell assets or make investments, and we have no control over the amount of indebtedness Westlake incurs, the assets it pledges or sells or the investments it makes.
−Removed: The ongoing coronavirus (COVID-19) outbreak, which the World Health Organization declared as a pandemic on March 11, 2020, has continued to persist.
−Removed: It has resulted in authorities implementing numerous measures to try to contain the disease, such as travel bans and restrictions, quarantines, shelter-in-place orders and shutdowns, among others.
−Removed: Westlake could experience significant disruptions to its business operations, if the pandemic and its impacts on the global economy continue.
−Removed: Westlake, which loans us our operators, has modified certain business practices (including those related to employee travel, employee work locations and employee work practices to conform to government restrictions and best practices encouraged by governmental and health authorities.
−Removed: However, the quarantine of personnel or the inability to access our or Westlake's facilities could adversely affect our and Westlake's operations.
−Removed: We or Westlake may take further actions as required by government authorities from time to time or that we or Westlake determine are in the best interests of our employees, customers, Westlake's partners and suppliers.
−Removed: There is no certainty that such measures will be sufficient to mitigate the risks posed by the disease, and our ability to perform certain functions could be harmed.
−Removed: In addition, while the potential impact and duration of the COVID-19 pandemic on the global economy and our business in particular may be difficult to assess or predict, the pandemic has resulted in, and may continue to result in, significant disruption of global financial markets, which may reduce our or Westlake's ability to access capital or our customers' ability to pay us for past or future purchases, which could negatively affect our liquidity.
−Removed: The COVID-19 pandemic could also reduce the demand for our products or Westlake's products.
+Added: There have been no material changes from those risk factors.
31.1† Rule 13a – 14(a) / 15d – 14(a) Certification (Principal Executive Officer)
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32.1# Section 1350 Certification (Principal Executive Officer and Principal Financial Officer)
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+Added: 101.INS† XBRL Instance Document–The instance document does not appear in the interactive data file because its XBRL tags are embedded within the Inline XBRL document.
+Added: 101.SCH† XBRL Taxonomy Extension Schema Document
+Added: 101.CAL† XBRL Taxonomy Extension Calculation Linkbase Document
+Added: 101.DEF† XBRL Taxonomy Extension Definition Linkbase Document
+Added: 101.LAB† XBRL Taxonomy Extension Label Linkbase Document
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WESTLAKE CHEMICAL PARTNERS LP
−Removed: November 4, 2020
+Added: May 5, 2021 By:
/ S / A LBERT C HAO
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(Principal Executive Officer)
−Removed: November 4, 2020
+Added: May 5, 2021 By:
S TEVEN B ENDER
Steven Bender
−Removed: Senior Vice President, Chief Financial Officer and
+Added: Executive Vice President, Chief Financial Officer and
Director of Westlake Chemical Partners GP LLC
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Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.