TENTH SUPPLEMENTAL INDENTURE
Execution Version
This Tenth Supplemental Indenture (this “Supplemental Indenture”), dated as of December 1, 2017, is by and among Energy Transfer Partners, L.P., a Delaware limited partnership (formerly Sunoco Logistics Partners, LP), as successor entity under each of the Indentures referred to below (in such capacity, the “Successor Entity”), Regency Energy Finance Corp., a Delaware corporation (“Regency Finance”), and Xxxxx Fargo Bank, National Association (the “Trustee”), as trustee under each of the Indentures referred to below.
WITNESSETH
WHEREAS, Regency Energy Partners LP, a Delaware limited partnership (“Regency”), and Regency Finance (together with Regency, the “Original Issuers”) duly issued (i) 5.750% Senior Notes due 2020 (the “2020 Notes”) in an aggregate principal amount of $400,0000,000, pursuant to the Base Indenture dated as of September 11, 2013 (the “Base Indenture”), by and among the Original Issuers, the guarantors party thereto and the Trustee, as amended and supplemented by the First Supplemental Indenture dated as of September 11, 2013 (the Base Indenture as so amended and supplemented and as further amended, supplemented or otherwise modified to date, the “2020 Notes Indenture”); (ii) 5.875% Senior Notes due 2022 (the “2022 5.875% Notes”) in an aggregate principal amount of $900,000,000, pursuant to the Base Indenture, as amended and supplemented by the Third Supplemental Indenture dated as of February 10, 2014 (the Base Indenture as so amended and supplemented and as further amended, supplemented or otherwise modified to date, the “2022 5.875% Notes Indenture”) and (iii) 5.00% Senior Notes due 2022 (the “2022 5.00% Notes” and, together with the 2020 Notes and the 2022 5.875% Notes, the “Notes”) in an aggregate principal amount of $700,000,000, pursuant to the Base Indenture, as amended and supplemented by the Sixth Supplemental Indenture dated as of July 25, 2014 (the Base Indenture as so amended and supplemented and as further amended, supplemented or otherwise modified to date, the “2022 5.00% Notes Indenture”; the 2020 Notes Indenture, the 2022 5.875% Notes Indenture and the 2022 5.00% Notes Indenture are sometimes referred to herein collectively as the “Indentures” and each individually as an “Indenture”);
WHEREAS, on August 10, 2015, Energy Transfer, LP, a Delaware limited partnership (formerly, Energy Transfer Partners, L.P.) (“ETLP”), assumed all of Regency’s obligations under the Notes and the Indenture pursuant to that certain Ninth Supplemental Indenture, dated as of August 10, 2015, among ETLP, Regency Finance and the Trustee;
WHEREAS, the Notes are the only series of securities outstanding under the 2020 Notes Indenture, the 2022 5.875% Notes Indenture and the 2022 5.00% Notes Indenture on the date hereof;
WHEREAS, ETLP assigned all or substantially all of its properties and assets (the “Assignment”) to the Successor Entity pursuant to that certain Assignment Agreement dated as of December 1, 2017 by and between ETLP and the Successor Entity;
WHEREAS, Section 10.01(a) of each Indenture provides that ETLP may, among other things, sell, assign, transfer, lease, convey or otherwise dispose of all or substantially all of the
1
properties or assets of ETLP and its Subsidiaries, taken as a whole, in one or more related transactions, to another Person if, among other things, the Person to which such sale, assignment, transfer, lease, conveyance or other disposition of such properties or assets is made expressly assumes ETLP’s obligations under the Notes and each Indenture;
WHEREAS, Section 9.01(3) of each Indenture provides that, without the consent of any Holders, each Indenture may be amended to provide for the assumption of ETLP’s obligations to the Holders of the 2020 Notes, the 2022 5.875% Notes and the 2022 5.00% Notes, as applicable, in the case of a sale of all or substantially all of ETLP’s properties or assets;
WHEREAS, the Successor Entity and Regency Finance desire and have requested the Trustee to join in entering into this Supplemental Indenture for the purpose of evidencing the assumption by the Successor Entity of ETLP’s obligations to the Holders of the Notes under each of the Indentures;
WHEREAS, the Successor Entity and Regency Finance have delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that (i) the Assignment and this Supplemental Indenture comply with each of the Indentures, (ii) all conditions precedent provided in each of the Indentures relating to the execution and delivery of this Supplemental Indenture have been complied with and (iii) this Supplemental Indenture is authorized or permitted by each Indenture;
WHEREAS, the Successor Entity and Regency Finance have been authorized by Board Resolutions or equivalent partnership or corporate action to enter into this Supplemental Indenture;
WHEREAS, pursuant to Section 9.01 of each of the Indentures, the Trustee is authorized to execute and deliver this Supplemental Indenture; and
WHEREAS, all conditions necessary to authorize the execution and delivery of this Supplemental Indenture by the Successor Entity and ETLP to make this Supplemental Indenture valid and binding on the Successor Entity and Regency Finance, as applicable, have been complied with or have been done or performed.
NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Successor Entity, Regency Finance and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows:
ARTICLE ONE
Section 1.01. CAPITALIZED TERMS. Terms used herein and not defined herein shall have the meanings assigned to them in the applicable Indenture.
ARTICLE TWO
Section 2.01. EFFECTIVENESS OF SUPPLEMENTAL INDENTURE. This
Supplemental Indenture shall become effective as of the date hereof upon its execution by the Successor Entity, Regency Finance and the Trustee.
2
Section 2.02. ASSUMPTION OF OBLIGATIONS. The Successor Entity hereby expressly assumes the obligations of ETLP under each of the Indentures and the Notes.
Section 2.04. NOTICES. All notices or other communications to the Successor Entity shall be given as provided in each of the Indentures addressed as follows:
0000 Xxxxxxxxxxx Xxxxx, Xxxxx 000
Xxxxxx, Xxxxx 00000
Attn: Xxxxxx Xxxxx
ARTICLE THREE
Section 3.01. RATIFICATION OF EACH INDENTURE; SUPPLEMENTAL INDENTURE. Each of the Indentures is in all respects ratified and confirmed and all the terms, conditions and provisions thereof shall remain in full force and effect. Upon the execution and delivery of this Supplemental Indenture by the Successor Entity, Regency Finance and the Trustee, this Supplemental Indenture shall form a part of each of the Indentures for all purposes, and the Successor Entity, Regency Finance, the Trustee and every Holder of each series of Notes heretofore or hereafter authenticated and delivered shall be bound hereby. Any and all references to the 2020 Notes Indenture, the 2022 5.875% Notes Indenture or the 2022 5.00% Notes Indenture, whether within such indenture or in any notice, certificate or other instrument or document, shall be deemed to include a reference to this Supplemental Indenture (whether or not made), unless the context shall require otherwise.
Section 3.02. GOVERNING LAW. THIS SUPPLEMENTAL INDENTURE WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.
Section 3.03. THE TRUSTEE. The Trustee shall not be responsible in any manner for or in respect of the validity or sufficiency of this Supplemental Indenture or for or in respect of the recitals or statements contained herein, all of which are made by the Successor Entity and Regency Finance, and the Trustee assumes no responsibility for their correctness.
Section 3.04. SUCCESSORS. All covenants and agreements of the Trustee in this Supplemental Indenture shall bind its successors and assigns. All covenants and agreements of the Successor Entity in this Supplemental Indenture shall bind its successors and assigns.
Section 3.05. COUNTERPARTS. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an original, but all of them together represent the same agreement. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or electronic format (i.e. “pdf” or “tif”) transmission shall constitute effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes. Signatures of the parties
hereto transmitted by facsimile or electronic format (i.e. “pdf” or “tif”) shall be deemed to be their original signatures for all purposes.
Section 3.06. EFFECT OF HEADINGS. The Section headings herein are for convenience only and shall not affect the construction hereof.
3
Section 3.07. SEVERABILITY. If any provision in this Supplemental Indenture shall be invalid, illegal or unenforceable, the validity, legality or enforceability of the remaining provisions of this Supplemental Indenture or any of the Indentures shall not in any way be affected or impaired thereby. This Supplemental Indenture is subject to the provisions of the Trust Indenture Act that are required to be part of each of the Indentures and shall, to the extent applicable, be governed by such provisions. If any provision of this Supplemental Indenture limits, qualifies or conflicts with another provision hereof which is required to be included herein by any provisions of the Trust Indenture Act, such required provision shall control.
[Signature Pages Follow]
4
IN WITNESS WHEREOF, each of the undersigned has caused this Supplemental Indenture to be duly executed as of the date first above written.
SUCCESSOR ENTITY:
By: Energy Transfer Partners GP, L.P., its general partner
By: Energy Transfer Partners, L.L.C., its general partner
By: /s/Xxxxxx X. Xxxx
Name: Xxxxxx X. Xxxx
Title: Chief Financial Officer
REGENCY FINANCE:
REGENCY ENERGY FINANCE CORP.
By: /s/Xxxxxx X. Xxxx
Name: Xxxxxx X. Xxxx
Title: Chief Financial Officer
TRUSTEE:
XXXXX FARGO BANK, NATIONAL ASSOCIATION, as Trustee
By: /s/Xxxxxxx X. Xxxxxxxx
Name: Xxxxxxx X. Xxxxxxxx
Title: Vice President
September 2013 Xxxxx Fargo Indenture
