Common use of RIGHT TO ACQUIRE Clause in Contracts

RIGHT TO ACQUIRE. LIMITED PARTNER INTERESTS Section 15.1 Right to Acquire Limited Partner Interests 89 ARTICLE XVI SERIES A CUMULATIVE REDEEMABLE PERPETUAL PREFERRED UNITS Section 16.1 Designation 90 Section 16.2 Uxxxx 00 Xxxxxxx 00.0 Distributions 91 Section 16.4 Change of Control 92 Section 16.5 Voting Rights 93 Section 16.6 Optional Redemption 94 Section 16.7 No Sinking Fund 96 Section 16.8 Record Holders 96 Section 16.9 Notices 96 Section 16.10 Other Rights 96 ARTICLE XVII SERIES B PERPETUAL CONVERTIBLE PREFERRED UNITS Section 17.1 Designation 96 Section 17.2 Uxxxx 00 Xxxxxxx 00.0 Distributions 97 Section 17.4 Change of Control 100 Section 17.5 Voting Rights 102 Section 17.6 Conversion of Series B Preferred Units 104 Section 17.7 No Sinking Fund 106 Section 17.8 Record Holders 106 Section 17.9 Notices 106 TABLE OF CONTENTS (CONT'D) Page Section 17.10 Other Rights 106 ARTICLE XVIII GENERAL PROVISIONS Section 18.1 Addresses and Notices 107 Section 18.2 Further Action 107 Section 18.3 Binding Effect 107 Section 18.4 Integration 107 Section 18.5 Creditors 108 Section 18.6 Waiver 108 Section 18.7 Counterparts 108 Section 18.8 Applicable Law 108 Section 18.9 Invalidity of Provisions 108 Section 18.10 Consent of Partners 108 Section 18.11 Facsimile Signatures 108 Section 18.12 Third-Party Beneficiaries 108 THIRD AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF BREITBURN ENERGY PARTNERS LP THIS THIRD AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF BREITBURN ENERGY PARTNERS LP dated as of April 8, 2015, is entered into by and among Breitburn GP LLC, a Delaware limited liability company, as the General Partner and as the lawful agent and attorney-in-fact for the Limited Partners, together with any other Persons who become Partners in the Partnership or parties hereto as provided herein. In consideration of the covenants, conditions and agreements contained herein, the parties hereto hereby agree as follows:

RIGHT TO ACQUIRE. LIMITED PARTNER INTERESTS 82 Section 15.1 15.1. Right to Acquire Limited Partner Interests 89 82 ARTICLE XVI SERIES A CUMULATIVE REDEEMABLE PERPETUAL PREFERRED UNITS FIXED TO FLOATING RATE PREFERENCE XXXXX 00 Xxxxxxx 00.0. Designations 83 Section 16.1 Designation 16.2. Xxxxx 00 Xxxxxxx 00.0. Distributions 84 Section 16.4. Liquidation Rights 86 Section 16.5. Voting Rights 87 Section 16.6. Optional Redemption 88 Section 16.7. Rank 90 Section 16.2 Uxxxx 00 Xxxxxxx 00.0 Distributions 91 Section 16.4 Change of Control 92 Section 16.5 Voting Rights 93 Section 16.6 Optional Redemption 94 Section 16.7 16.8. No Sinking Fund 96 90 Section 16.8 16.9. Record Holders 96 90 Section 16.9 16.10. Notices 96 91 Section 16.10 16.11. Other Rights 96 Rights; Fiduciary Duties 91 ARTICLE XVII SERIES B CUMULATIVE REDEEMABLE PERPETUAL CONVERTIBLE PREFERRED UNITS FIXED TO FLOATING RATE PREFERENCE XXXXX 00 Xxxxxxx 00.0. Designations 91 Section 17.1 Designation 17.2. Xxxxx 00 Xxxxxxx 00.0. Distributions 92 Section 17.4. Liquidation Rights 94 Section 17.5. Voting Rights 95 Section 17.6. Optional Redemption 96 Section 17.2 Uxxxx 00 Xxxxxxx 00.0 Distributions 97 17.7. Rank 98 Section 17.4 Change of Control 100 Section 17.5 Voting Rights 102 Section 17.6 Conversion of Series B Preferred Units 104 Section 17.7 17.8. No Sinking Fund 106 99 Section 17.8 17.9. Record Holders 106 99 Section 17.9 17.10. Notices 106 TABLE OF CONTENTS (CONT'D) Page 99 Section 17.10 17.11. Other Rights 106 Rights; Fiduciary Duties 99 ARTICLE XVIII GENERAL PROVISIONS SERIES C CUMULATIVE REDEEMABLE PERPETUAL FIXED TO FLOATING RATE PREFERENCE XXXXX 00 Xxxxxxx 00.0. Designations 99 Section 18.1 Addresses and 18.2. Xxxxx 00 Xxxxxxx 00.0. Distributions 100 Section 18.4. Liquidation Rights 103 Section 18.5. Voting Rights 104 Section 18.6. Optional Redemption 105 Section 18.7. Rank 107 Section 18.8. No Sinking Fund 107 Section 18.9. Record Holders 107 Section 18.10. Notices 107 Section 18.2 Further Action 18.11. Other Rights; Fiduciary Duties 107 Section 18.3 Binding Effect 107 Section 18.4 Integration 107 Section 18.5 Creditors 108 Section 18.6 Waiver 108 Section 18.7 Counterparts 108 Section 18.8 Applicable Law 108 Section 18.9 Invalidity of Provisions 108 Section 18.10 Consent of Partners 108 Section 18.11 Facsimile Signatures 108 Section 18.12 Third-Party Beneficiaries 108 THIRD AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF BREITBURN ENERGY PARTNERS LP THIS THIRD AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF BREITBURN ENERGY PARTNERS LP dated as of April 8, 2015, is entered into by and among Breitburn GP LLC, a Delaware limited liability company, as the General Partner and as the lawful agent and attorney-in-fact for the Limited Partners, together with any other Persons who become Partners in the Partnership or parties hereto as provided herein. In consideration of the covenants, conditions and agreements contained herein, the parties hereto hereby agree as follows:ARTICLE XIV GENERAL PROVISIONS 107

RIGHT TO ACQUIRE. LIMITED PARTNER INTERESTS Section SECTION 15.1 Right to Acquire Limited Partner Interests 89 93 ARTICLE XVI SERIES A FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PERPETUAL PREFERRED UNITS Section SECTION 16.1 Designation 90 Section Designations 95 SECTION 16.2 Uxxxx Series A Preferred Xxxxx 00 Xxxxxxx XXXXXXX 00.0 Distributions 91 Section 96 SECTION 16.4 Change of Control 92 Section 16.5 Voting Rights 93 Section 98 SECTION 16.5 Optional Redemption; Series A Rating Event 99 SECTION 16.6 Optional Redemption 94 Section Rank 101 SECTION 16.7 No Sinking Fund 96 Section 101 SECTION 16.8 Record Holders 96 Section 101 SECTION 16.9 Notices 96 Section 102 SECTION 16.10 Other Rights 96 ARTICLE XVII SERIES B PERPETUAL CONVERTIBLE PREFERRED UNITS Section 17.1 Designation 96 Section 17.2 Uxxxx 00 Xxxxxxx 00.0 Distributions 97 Section 17.4 Rights; Fiduciary Duties 102 SECTION 16.11 Change of Control 100 Section 17.5 Voting Rights 102 Section 17.6 Conversion of SERIES B FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PERPETUAL PREFERRED UNITS SECTION 17.1 Designations 105 SECTION 17.2 Series B Preferred Units 104 Section 105 SECTION 17.3 Distributions 105 SECTION 17.4 Voting Rights 107 SECTION 17.5 Optional Redemption; Series B Rating Event 108 SECTION 17.6 Rank 110 SECTION 17.7 No Sinking Fund 106 Section 111 SECTION 17.8 Record Holders 106 Section 111 SECTION 17.9 Notices 106 TABLE OF CONTENTS (CONT'D) Page Section 111 SECTION 17.10 Other Rights 106 Rights; Fiduciary Duties 111 SECTION 17.11 Change of Control 111 ARTICLE XVIII SERIES C FIXED-TO-FLOATING RATE CUMULATIVE REDEEMABLE PERPETUAL PREFERRED UNITS SECTION 18.1 Designations 114 SECTION 18.2 Series C Preferred Units 114 SECTION 18.3 Distributions 114 SECTION 18.4 Voting Rights 117 SECTION 18.5 Optional Redemption; Series C Rating Event 118 SECTION 18.6 Rank 120 SECTION 18.7 No Sinking Fund 120 SECTION 18.8 Record Holders 120 SECTION 18.9 Notices 120 SECTION 18.10 Other Rights; Fiduciary Duties 121 SECTION 18.11 Change of Control 121 ARTICLE XIX GENERAL PROVISIONS Section 18.1 SECTION 19.1 Addresses and Notices 107 Section 18.2 123 SECTION 19.2 Further Action 107 Section 18.3 124 SECTION 19.3 Binding Effect 107 Section 18.4 124 SECTION 19.4 Integration 107 Section 18.5 124 SECTION 19.5 Creditors 108 Section 18.6 124 SECTION 19.6 Waiver 108 Section 18.7 124 SECTION 19.7 Counterparts 108 Section 18.8 125 SECTION 19.8 Applicable Law 108 Section 18.9 125 SECTION 19.9 Invalidity of Provisions 108 Section 18.10 125 SECTION 19.10 Consent of Partners 108 Section 18.11 Facsimile Signatures 108 Section 18.12 Third-Party Beneficiaries 108 THIRD 125 SIXTH AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF BREITBURN NUSTAR ENERGY PARTNERS LP L.P. THIS THIRD SIXTH AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF BREITBURN NUSTAR ENERGY PARTNERS LP L.P. (the “Partnership”) dated as of April 8November 30, 20152017, is entered into by and among Breitburn GP LLCRiverwalk Logistics, L.P., a Delaware limited liability companypartnership, as the General Partner Partner, and as the lawful agent and attorney-in-fact for the Limited PartnersPartners (as defined herein) as of the date hereof, together with any other Persons (as defined herein) who become Partners (as defined herein) in the Partnership or parties hereto as provided herein. In consideration of the covenants, conditions and agreements contained herein, the parties hereto hereby agree as follows:

RIGHT TO ACQUIRE. LIMITED PARTNER INTERESTS Section 15.1 Right to Acquire Limited Partner Interests 89 100 ARTICLE XVI SERIES A CUMULATIVE REDEEMABLE PERPETUAL CONVERTIBLE PREFERRED UNITS Section 16.1 Designation 90 101 Section 16.2 Uxxxx 00 Xxxxx 000 Xxxxxxx 00.0 Distributions 91 102 Section 16.4 Change Conversion at the Option of Control 92 the Holder; Anti-Dilution Adjustments 104 Section 16.5 Mandatory Conversion 113 Section 16.6 Mandatory Redemption 114 Section 16.7 Conversion Upon a Fundamental Change 115 Section 16.8 Make-Whole Premium for Conversion upon a Fundamental Change 116 Section 16.9 Voting Rights 93 118 Section 16.6 Optional Redemption 94 16.10 Liquidation Preference 119 Section 16.7 16.11 Fractional Units 120 Section 16.12 No Sinking Fund 96 120 Section 16.8 16.13 Record Holders 96 120 Section 16.9 16.14 Notices 96 120 Section 16.10 16.15 Adjustment of Prices 121 Section 16.16 Other Rights 96 121 Section 16.17 Whole Units 121 ARTICLE XVII SERIES B PERPETUAL CONVERTIBLE PREFERRED UNITS Section 17.1 Designation 96 Section 17.2 Uxxxx 00 Xxxxxxx 00.0 Distributions 97 Section 17.4 Change of Control 100 Section 17.5 Voting Rights 102 Section 17.6 Conversion of Series B Preferred Units 104 Section 17.7 No Sinking Fund 106 Section 17.8 Record Holders 106 Section 17.9 Notices 106 TABLE OF CONTENTS (CONT'D) Page Section 17.10 Other Rights 106 ARTICLE XVIII GENERAL PROVISIONS Section 18.1 17.1 Addresses and Notices 107 Notices; Written Communications 121 Section 18.2 17.2 Further Action 107 122 Section 18.3 17.3 Binding Effect 107 122 Section 18.4 17.4 Integration 107 122 Section 18.5 17.5 Creditors 108 122 Section 18.6 17.6 Waiver 108 122 Section 18.7 Counterparts 108 Section 18.8 Applicable Law 108 Section 18.9 Invalidity of Provisions 108 Section 18.10 Consent of Partners 108 Section 18.11 Facsimile Signatures 108 Section 18.12 17.7 Third-Party Beneficiaries 108 THIRD AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF BREITBURN ENERGY PARTNERS LP THIS THIRD AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF BREITBURN ENERGY PARTNERS LP dated as of April 8, 2015, is entered into by and among Breitburn GP LLC, a Delaware limited liability company, as the General Partner and as the lawful agent and attorney-in-fact for the Limited Partners, together with any other Persons who become Partners in the Partnership or parties hereto as provided herein. In consideration of the covenants, conditions and agreements contained herein, the parties hereto hereby agree as follows:122 Section 17.8 Counterparts 122

RIGHT TO ACQUIRE. LIMITED PARTNER INTERESTS 69 Section 15.1 Right to Acquire Limited Partner Interests 89 Interests. 69 ARTICLE XVI SERIES A AND SERIES B CUMULATIVE REDEEMABLE PERPETUAL PREFERRED UNITS Section 16.1 Designation 90 Section 16.2 Uxxxx XXXXX 00 Xxxxxxx 00.0 Distributions 91 Designations. 70 Section 16.2 Units. 71 Section 16.3 Distributions. 71 Section 16.4 Change of Control 92 Liquidation Rights. 73 Section 16.5 Voting Rights 93 Rights. 74 Section 16.6 Optional Redemption 94 Redemption. 76 Section 16.7 Rank. 78 Section 16.8 No Sinking Fund 96 Section 16.8 Record Holders 96 Fund. 79 Section 16.9 Notices 96 Record Holders. 79 Section 16.10 Notices. 79 Section 16.11 Other Rights 96 Rights; Fiduciary Duties. 79 ARTICLE XVII SERIES B PERPETUAL CONVERTIBLE PREFERRED UNITS GENERAL PROVISIONS 79 Section 17.1 Designation 96 Addresses and Notices. 79 Section 17.2 Uxxxx 00 Xxxxxxx 00.0 Distributions 97 Further Action. 80 Section 17.3 Binding Effect. 80 Section 17.4 Change of Control 100 Integration. 80 Section 17.5 Voting Rights 102 Creditors. 80 Section 17.6 Conversion of Series B Preferred Units 104 Waiver. 81 Section 17.7 No Sinking Fund 106 Section 17.8 Record Holders 106 Section 17.9 Notices 106 Counterparts. 81 TABLE OF CONTENTS (CONT'D) Page Section 17.10 Other Rights 106 ARTICLE XVIII GENERAL PROVISIONS 17.8 Applicable Law. 81 Section 18.1 Addresses and Notices 107 Section 18.2 Further Action 107 Section 18.3 Binding Effect 107 Section 18.4 Integration 107 Section 18.5 Creditors 108 Section 18.6 Waiver 108 Section 18.7 Counterparts 108 Section 18.8 Applicable Law 108 Section 18.9 17.9 Invalidity of Provisions 108 Provisions. 81 Section 18.10 17.10 Consent of Partners 108 Partners. 81 Section 18.11 17.11 Facsimile Signatures 108 Signatures. 81 Section 18.12 17.12 Third-Party Beneficiaries 108 Beneficiaries. 81 THIRD AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF BREITBURN ENERGY TEEKAY OFFSHORE PARTNERS LP L.P. THIS THIRD AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF BREITBURN ENERGY TEEKAY OFFSHORE PARTNERS LP L.P., dated as of April 813, 2015, is entered into by and among Breitburn between Teekay Offshore GP LLCL.L.C., a Delaware Xxxxxxxx Islands limited liability company, as the General Partner Partner, and Teekay Corporation, a Xxxxxxxx Islands corporation, as the lawful agent and attorney-in-fact for the Organizational Limited PartnersPartner, together with any other Persons who become Partners in the Partnership or parties hereto as provided herein. In consideration of the covenants, conditions and agreements contained herein, the parties hereto hereby agree as follows:

RIGHT TO ACQUIRE. LIMITED PARTNER INTERESTS 69 Section 15.1 Right to Acquire Limited Partner Interests 89 Interests. 69 ARTICLE XVI SERIES A AND SERIES B CUMULATIVE REDEEMABLE PERPETUAL PREFERRED UNITS Section 16.1 Designation 90 Section 16.2 Uxxxx XXXXX 00 Xxxxxxx 00.0 Distributions 91 Designations. 70 Section 16.2 Units. 71 Section 16.3 Distributions. 71 Section 16.4 Change of Control 92 Liquidation Rights. 73 Section 16.5 Voting Rights 93 Rights. 74 Section 16.6 Optional Redemption 94 Redemption. 76 Section 16.7 Rank. 78 Section 16.8 No Sinking Fund 96 Section 16.8 Record Holders 96 Fund. 79 Section 16.9 Notices 96 Record Holders. 79 Section 16.10 Notices. 79 Section 16.11 Other Rights 96 Rights; Fiduciary Duties. 79 ARTICLE XVII SERIES B PERPETUAL CONVERTIBLE PREFERRED UNITS GENERAL PROVISIONS 79 Section 17.1 Designation 96 Addresses and Notices. 79 Section 17.2 Uxxxx 00 Xxxxxxx 00.0 Distributions 97 Further Action. 80 Section 17.3 Binding Effect. 80 Section 17.4 Change of Control 100 Integration. 80 Section 17.5 Voting Rights 102 Creditors. 80 Section 17.6 Conversion of Series B Preferred Units 104 Waiver. 81 Section 17.7 No Sinking Fund 106 Section 17.8 Record Holders 106 Section 17.9 Notices 106 Counterparts. 81 TABLE OF CONTENTS (CONT'D) Page Section 17.10 Other Rights 106 ARTICLE XVIII GENERAL PROVISIONS 17.8 Applicable Law. 81 Section 18.1 Addresses and Notices 107 Section 18.2 Further Action 107 Section 18.3 Binding Effect 107 Section 18.4 Integration 107 Section 18.5 Creditors 108 Section 18.6 Waiver 108 Section 18.7 Counterparts 108 Section 18.8 Applicable Law 108 Section 18.9 17.9 Invalidity of Provisions 108 Provisions. 81 Section 18.10 17.10 Consent of Partners 108 Partners. 81 Section 18.11 17.11 Facsimile Signatures 108 Signatures. 81 Section 18.12 17.12 Third-Party Beneficiaries 108 Beneficiaries. 81 THIRD AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF BREITBURN ENERGY TEEKAY OFFSHORE PARTNERS LP L.P. THIS THIRD AMENDED AND RESTATED AGREEMENT OF LIMITED PARTNERSHIP OF BREITBURN ENERGY TEEKAY OFFSHORE PARTNERS LP L.P., dated as of April 8, 2015, is entered into by and among Breitburn between Teekay Offshore GP LLCL.L.C., a Delaware Xxxxxxxx Islands limited liability company, as the General Partner Partner, and Teekay Corporation, a Xxxxxxxx Islands corporation, as the lawful agent and attorney-in-fact for the Organizational Limited PartnersPartner, together with any other Persons who become Partners in the Partnership or parties hereto as provided herein. In consideration of the covenants, conditions and agreements contained herein, the parties hereto hereby agree as follows: