Exhibit 10.1

Execution Version

LIMITED WAIVER TO CREDIT AGREEMENT

This Limited Waiver to Credit Agreement (this “Limited Waiver”) is entered into
effective as of the 31st day of January, 2017 (the “Effective Date”), by and
among Sunoco LP, a Delaware limited partnership (“Borrower”), Bank of America,
N.A., as Administrative Agent (in such capacity, the “Administrative Agent”),
Swingline Lender and an LC Issuer, and the financial institutions parties hereto
as Lenders (“Lenders”).

W I T N E S S E T H

WHEREAS, Borrower, Administrative Agent and the Lenders are parties to that
certain Credit Agreement, dated as of September 25, 2014 (as amended by that
certain First Amendment to Credit Agreement and Increase Agreement dated as of
as April 10, 2015, that certain Second Amendment to Credit Agreement, dated as
of December 2, 2015, that certain Third Amendment to Credit Agreement, dated as
of August 1, 2016, and that certain Fourth Amendment to Credit Agreement, dated
as of December 21, 2016 and as otherwise amended, restated, supplemented or
modified prior to the date hereof, the “Existing Credit Agreement” and the
Existing Credit Agreement, as modified by this Limited Waiver, the “Credit
Agreement”) (unless otherwise defined herein, all terms used herein with their
initial letter capitalized shall have the meaning given such terms in the Credit
Agreement);

WHEREAS, Borrower has advised Administrative Agent and the Lenders that
(a) beginning with the Compliance Certificate for the Fiscal Quarter ending
September 30, 2014, it miscalculated the amount of its Consolidated EBITDA (and
as a result its Leverage Ratio) as set forth in each of the Compliance
Certificates delivered under the Credit Agreement to date (collectively, the
“Miscalculations”) and (b) as a result of the Miscalculation in the Compliance
Certificate for the Fiscal Quarter ending September 30, 2016, incremental
interest should have been paid on the Loans because a higher Leverage Ratio
should have applied from December 21, 2016 for each Interest Payment Date
arising on or before the date of the next Compliance Certificate delivered
pursuant to the terms of the Credit Agreement (such period, the “Applicable
Period” and the failure to have paid any such incremental interest (the
“Incremental Accrued Interest”) during such period, the “Incremental Accrued
Interest Breach”);

WHEREAS, Borrower has requested that Administrative Agent and the Lenders
constituting at least the Majority Lenders waive the Miscalculations, the
Incremental Accrued Interest Breach and any and all Defaults or Events of
Defaults due to the Miscalculations or the Incremental Accrued Interest Breach,
in either case, on or before the Effective Date (including as a result of the
existence or non-existence of any Default or Event of Default during the
Applicable Period attributable to the Miscalculations or Incremental Accrued
Interest Breach or the inaccuracy of any representation or warranty (including
any reaffirmation thereof) regarding the Miscalculations or the Incremental
Accrued Interest Breach);

WHEREAS, subject to and upon the terms and conditions set forth herein, the
Lenders party hereto have agreed to enter into this Limited Waiver;

NOW THEREFORE, for and in consideration of the mutual covenants and agreements
herein contained and other good and valuable consideration, the receipt and
sufficiency of which are hereby acknowledged and confessed, Borrower,
Administrative Agent, and the Lenders hereto hereby agree as follows:

 

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Section 1. Limited Waiver. In reliance on the representations, warranties,
covenants and agreements contained in this Limited Waiver, subject to the terms
and conditions precedent set forth in Section 2 hereof, the Administrative Agent
and the Lenders hereby agree that, as of the Effective Date, the
Miscalculations, the Incremental Accrued Interest Breach and any and all
Defaults or Events of Default due to the Miscalculations or the Incremental
Accrued Interest Breach, in either case, on or before the Effective Date
(including as a result of the existence or non-existence of any Default or Event
of Default during the Applicable Period attributable to the Miscalculations or
Incremental Accrued Interest Breach or the inaccuracy of any representation or
warranty (including any reaffirmation thereof) regarding the Miscalculations or
the Incremental Accrued Interest Breach) are hereby waived and deemed remedied
for all purposes under the Loan Documents (provided that, for the avoidance of
doubt, the payment by Borrower of the Incremental Accrued Interest is not waived
by this Section 1).

Section 2. Conditions Precedent. The limited waiver contained in Section 1
hereof shall be subject to the satisfaction of each of the following conditions
precedent:

2.1 Counterparts. Administrative Agent shall have received counterparts of this
Limited Waiver duly executed by Borrower, the Guarantors and Lenders
constituting at least the Majority Lenders.

2.2 Updated Calculations and Compliance Certificate. Administrative Agent shall
have received (a) updated calculations of Borrower’s Consolidated EBITDA for
each quarter from (and including) the Fiscal Quarter ending September 30, 2014
and (b) an updated Compliance Certificate with respect to the Fiscal Quarter
ending September 30, 2016, in each case, reflecting its correct Consolidated
EBITDA and Leverage Ratio calculations for such periods.

2.3 Interest. Borrower shall have paid to the Administrative Agent, for the
account of each Lender, the Incremental Accrued Interest and any accrued Default
Rate interest with respect thereto.

2.4 Term Loan Limited Waiver. Administrative Agent shall have received a duly
executed copy of a limited waiver to the Term Loan Facility in form and
substance reasonably satisfactory to Administrative Agent; provided that a
limited waiver in form and substance substantially the same as this Limited
Waiver shall be deemed reasonably satisfactory to Administrative Agent.

2.5 No Default. After giving effect to the limited waiver set forth in Section 1
hereof, no Default or Event of Default shall have occurred which is continuing.

Section 3. Representations and Warranties of Borrower. To induce the Lenders and
Administrative Agent to enter into this Limited Waiver, Borrower hereby
represents and warrants to the Lenders and Administrative Agent as follows:

 

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3.1 Reaffirmation of Existing Representations and Warranties. After giving
effect to the limited waiver set forth in Section 1 hereof, each representation
and warranty of Borrower contained in the Credit Agreement and the other Loan
Documents is true and correct in all material respects (except to the extent
that such representations and warranties are qualified by materiality, in which
case such representations and warranties are true and correct in all respects)
on the date hereof, except to the extent that such representations and
warranties specifically refer to an earlier date, in which case they were true
and correct in all material respects (except to the extent that such
representations and warranties are qualified by materiality, in which case such
representations and warranties were true and correct in all respects) as of such
earlier date.

3.2 No Default or Event of Default. After giving effect to the limited waiver
set forth in Section 1 hereof, no Default or Event of Default has occurred which
is continuing.

3.3 Acknowledgment of No Defenses. As of the Effective Date, to the knowledge of
Borrower, Borrower has no defense to (a) Borrower’s obligation to pay the
Obligations when due, or (b) the validity, enforceability or binding effect
against Borrower or any Loan Party of the Credit Agreement or any of the other
Loan Documents (to the extent a party thereto) or any Liens intended to be
created thereby.

Section 4. Miscellaneous.

4.1 Reaffirmation of Loan Documents. Any and all of the terms and provisions of
the Credit Agreement and the Loan Documents shall, except as modified hereby,
remain in full force and effect. The limited waiver contemplated hereby shall
not limit or impair any Lien securing the Obligations, each of which is hereby
ratified and affirmed. The execution, delivery and effectiveness of this Limited
Waiver shall not, except as expressly provided herein, operate as a waiver of
any right, power or remedy of any Lender or Administrative Agent under any of
the Loan Documents, nor, except as expressly provided in Section 1 hereof,
constitute a waiver or amendment of any provision of any of the Loan Documents.

4.2 Limited Waiver. The limited waiver granted in Section 1 hereof is a one time
waiver limited solely to the Miscalculations, the Incremental Accrued Interest
Breach and any and all Defaults or Events of Default arising therefrom on or
prior to the Effective Date, and nothing contained herein shall be deemed a
consent to, or waiver of, any other Default or Event of Default or action or
inaction of Borrower, any Guarantor or any of Borrower’s Subsidiaries which
constitutes (or would constitute) a violation of any provision of the Credit
Agreement or any other Loan Document. Neither the Lenders nor Administrative
Agent shall be obligated to grant any future waivers, consents or amendments
with respect to any other provision of the Credit Agreement or any other Loan
Document. Nothing contained herein shall constitute any course of dealing or
other basis for altering any obligation of Borrower or any right, privilege or
remedy of Administrative Agent or the Lenders under the Credit Agreement or the
other Loan Documents.

4.3 Parties in Interest. All of the terms and provisions of this Limited Waiver
shall bind and inure to the benefit of the parties hereto and their respective
successors and permitted assigns.

 

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4.4 Counterparts. This Limited Waiver may be executed in counterparts,
including, without limitation, by electronic signature, and all parties need not
execute the same counterpart. Facsimiles or other electronic transmissions (e.g.
.pdfs) of such executed counterparts shall be effective as originals.

4.5 Complete Agreement. THIS LIMITED WAIVER, THE CREDIT AGREEMENT AND THE OTHER
LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE
CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR ORAL AGREEMENTS OF THE
PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN OR AMONG THE PARTIES.

4.6 Headings. The headings, captions and arrangements used in this Limited
Waiver are, unless specified otherwise, for convenience only and shall not be
deemed to limit, amplify or modify the terms of this Limited Waiver, nor affect
the meaning thereof.

4.7 Effectiveness. This Limited Waiver shall be effective automatically and
without necessity of any further action by Borrower, Administrative Agent or the
Lenders when counterparts hereof have been executed by Borrower, Guarantors and
the Majority Lenders, and all conditions to the effectiveness hereof set forth
herein have been satisfied.

4.8 Governing Law. THIS LIMITED WAIVER SHALL BE GOVERNED BY, AND CONSTRUED IN
ACCORDANCE WITH, THE LAWS OF THE STATE OF NEW YORK.

4.9 Modification. On and after the Effective Date, each reference in the Credit
Agreement to “this Agreement,” “hereunder,” “hereof” or words of like import
referring to the Credit Agreement shall mean and be a reference to the Credit
Agreement, as modified by this Limited Waiver. This Limited Waiver constitutes a
Loan Document.

4.10 Release of Claims and Waiver of Defenses. In further consideration of
Administrative Agent’s and the Majority Lenders’ execution of this Limited
Waiver, Borrower, on behalf of itself and its successors, assigns, affiliates,
officers, directors, employees and agents hereby forever, fully, unconditionally
and irrevocably waives and releases Administrative Agent, the Lenders and their
respective successors, assigns, parents, subsidiaries, affiliates, officers,
directors, employees and agents (collectively, the “Releasees”) from any and all
claims, liabilities, obligations, debts, causes of action (whether at law or in
equity or otherwise), defenses, counterclaims, setoffs, of any kind, whether
known or unknown, whether liquidated or unliquidated, matured or unmatured,
fixed or contingent, directly or indirectly arising out of, connected with,
resulting from or related to any act or omission by Administrative Agent, any
Lender or any other Releasee with respect to the Loan Documents and any
Collateral occurring on or before the date of this Limited Waiver.

[Signature Pages to Follow]

 

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IN WITNESS WHEREOF, the parties hereto have caused this Limited Waiver to be
duly executed by their respective authorized officers on the date and year first
above written.

 

SUNOCO LP By:   SUNOCO GP LLC, its General Partner By:   /s/ Thomas R. Miller
Name:   Thomas R. Miller Title:   Chief Financial Officer

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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BANK OF AMERICA, N.A., as an LC Issuer, Swingline Lender and a Lender By:   /s/
Adam H. Fey Name:   Adam H. Fey Title:   Director

BANK OF AMERICA, N.A.,

as Administrative Agent

By:     Name:     Title:    

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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BANK OF AMERICA, N.A., as an LC Issuer, Swingline Lender and a Lender By:    
Name:     Title:    

BANK OF AMERICA, N.A.,

as Administrative Agent

By:   /s/ Denise Jones Name:   Denise Jones Title:   Assistant Vice President

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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WELLS FARGO BANK, N.A., as an LC Issuer and a Lender By:   /s/ Nathan Starr
Name:   Nathan Starr Title:   Vice President

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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COMPASS BANK, as a Lender By:   /s/ Blake Kirshman Name:   Blake Kirshman Title:
  Senior Vice President

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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THE BANK OF TOKYO-MITSUBISHI UFJ LTD., as a Lender By:   /s/ Sherwin Brandford
Name:   Sherwin Brandford Title:   Director

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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DNB CAPITAL LLC, as a Lender By:   /s/ Joe Hykle Name:   Joe Hykle Title:  
Senior Vice President

DNB CAPITAL LLC,

as a Lender

By:   /s/ Jodie Gildersleeve Name:   Jodie Gildersleeve Title:   Vice President

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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BARCLAYS BANK PLC, as a Lender By:   /s/ Christopher Aitkin Name:   Christopher
Aitkin Title:   Assistant Vice President

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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CITIBANK, N.A., as a Lender By:   /s/ Michael Zeller Name:   Michael Zeller
Title:   Vice President

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH, as a Lender By:   /s/ Nupur Kumar Name:
  Nupur Kumar Title:   Authorized Signatory By:   /s/ Warren Van Heyst Name:  
Warren Van Heyst Title:   Authorized Signatory

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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DEUTSCHE BANK AG NEW YORK BRANCH, as a Lender By:   /s/ Chris Chapman Name:  
Chris Chapman Title:   Director By:   /s/ Susana Fornies Name:   Susana Fornies
Title:   Assistant Vice President

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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GOLDMAN SACHS BANK USA, as a Lender By:   /s/ Ushma Dedhiya Name:   Ushma
Dedhiya Title:   Authorized Signatory

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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JPMORGAN CHASE BANK, N.A., as a Lender By:   /s/ Stephanie Balette Name:  
Stephanie Balette Title:   Authorized Officer

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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MIZUHO BANK, LTD., as a Lender By:   /s/ Leon Mo Name:   Leon Mo Title:  
Authorized Signatory

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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MORGAN STANLEY BANK, N.A., as a Lender By:   /s/ Patrick Layton Name:   Patrick
Layton Title:   Authorized Signatory

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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MORGAN STANLEY BANK, N.A., as a Lender By:   /s/ Patrick Layton Name:   Patrick
Layton Title:   Authorized Signatory

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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MORGAN STANLEY SENIOR FUNDING, INC., as a Lender By:   /s/ Patrick Layton Name:
  Patrick Layton Title:   Vice President

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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PNC BANK, NATIONAL ASSOCIATION, as a Lender By:   /s/ Kyle T. Helfrich Name:  
Kyle T. Helfrich Title:   Assistant Vice President

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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ROYAL BANK OF CANADA, as a Lender By:   /s/ Mark Lumpkin, Jr. Name:   Mark
Lumpkin, Jr. Title:   Authorized Signatory

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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SUMITOMO MITSUI BANKING CORPORATION, as a Lender By:   /s/ James D. Weinstein
Name:   James D. Weinstein Title:   Managing Director

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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SUNTRUST BANK, as a Lender By:   /s/ Carmen Malizia Name:   Carmen Malizia
Title:   Director

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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U.S. BANK NATIONAL ASSOCIATION, as a Lender By:   /s/ Patrick Jeffrey Name:  
Patrick Jeffrey Title:   Vice President

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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BMO HARRIS FINANCING, INC., as a Lender By:   /s/ Matthew Davis Name:   Matthew
Davis Title:   Vice President

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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BNP PARIBAS, as a Lender By:   /s/ Joe Onischuk Name:   Joe Onischuk Title:  
Managing Director By:   /s/ Charles Hill Name:   Charles Hill Title:   Director

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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CREDIT AGRICOLE CORPORATE & INVESTMENT BANK, as a Lender By:   /s/ Dixon Schultz
Name:   Dixon Schultz Title:   Managing Director By:   /s/ Michael Willis Name:
  Michael Willis Title:   Managing Director

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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ING CAPITAL LLC, as a Lender By:   /s/ Subha Pasumarti Name:   Subha Pasumarti
Title:   Managing Director By:   /s/ Tanja van der Woude Name:   Tanja van der
Woude Title:   Director

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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UBS AG, STAMFORD BRANCH, as a Lender By:   /s/ Houssem Daly Name:   Houssem Daly
Title:   Associate Director By:   /s/ Darlene Arias Name:   Darlene Arias Title:
  Director

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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TORONTO DOMINION (TEXAS) LLC, as a Lender By:   /s/ Lexanne Cooper Name:  
Lexanne Cooper Title:   Authorized Signatory

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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NATIXIS, NEW YORK BRANCH, as a Lender By:   /s/ Brice Le Foyer Name:   Brice Le
Foyer Title:   Director By:   /s/ Ajay Prakash Name:   Ajay Prakash Title:  
Vice President

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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Each of the undersigned Guarantors (i) consents and agrees to this Limited
Waiver, and (ii) agrees that the Loan Documents to which it is a party
(including, without limitation, the Guaranty Agreement, dated as of
September 25, 2014, each as amended, modified or supplemented) shall remain in
full force and effect and shall continue to be the legal, valid and binding
obligation of the undersigned, enforceable against it in accordance with its
terms.

 

CONSENTED, ACKNOWLEDGED AND AGREED TO BY: SUSSER PETROLEUM OPERATING COMPANY LLC
SUSSER PETROLEUM PROPERTY COMPANY LLC SUSSER HOLDINGS CORPORATION SUNOCO FINANCE
CORP. By:   /s/ Thomas R. Miller Name:   Thomas R. Miller Title:   Chief
Financial Officer STRIPES HOLDINGS LLC SUSSER HOLDINGS, L.L.C. STRIPES LLC By:  
/s/ Thomas R. Miller Name:   Thomas R. Miller Title:   Chief Financial Officer
MID-ATLANTIC CONVENIENCE STORES, LLC SOUTHSIDE OIL, LLC MACS RETAIL LLC By:  
/s/ Thomas R. Miller Name:   Thomas R. Miller Title:   Chief Financial Officer

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP

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ALOHA PETROLEUM LLC By:   /s/ Thomas R. Miller Name:   Thomas R. Miller Title:  
Chief Financial Officer ALOHA PETROLEUM, LTD. By:   /s/ Thomas R. Miller Name:  
Thomas R. Miller Title:   Chief Financial Officer SUNOCO RETAIL, LLC By:   /s/
Thomas R. Miller Name:   Thomas R. Miller Title:   Chief Financial Officer
SUNOCO, LLC By:   /s/ Thomas R. Miller Name:   Thomas R. Miller Title:   Chief
Financial Officer ALLIED ENERGY COMPANY LLC DIRECT FUELS LLC ALLIED RENEWABLE
ENERGY, LLC EMERGE ENERGY DISTRIBUTORS INC. SUNMARKS, LLC SUSSER PETROLEUM
COMPANY LLC STRIPES NO. 1009 LLC By:   /s/ Thomas R. Miller Name:   Thomas R.
Miller Title:   Chief Financial Officer

 

SIGNATURE PAGE TO LIMITED CONSENT TO CREDIT AGREEMENT

SUNOCO LP