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FS Energy and Power Fund 8-K [fsep_8-k.htm]
Exhibit 10.1

TERMINATION ACKNOWLEDGMENT (TRS)

Dated:  May 24, 2013
 
Reference is hereby made to the ISDA 2002 Master Agreement, dated as of
August 11, 2011, including the Schedule thereto, the Credit Support Annex to
such Schedule and the Confirmation, dated as of August 11, 2011 (as amended and
restated on March 1, 2013), exchanged thereunder (the TRS Confirmation) and any
additional Confirmations exchanged under the Master Agreement (collectively, the
Master Agreement) between Citibank, N.A. (Citibank) and EP Investments LLC, a
limited liability company organized under the laws of the State of Delaware (the
Counterparty).  Capitalized terms used but not defined herein have the
respective meanings given to such terms in the Master Agreement (without
reference to the TRS Confirmation) or, if not so defined, in the TRS
Confirmation.
 
Termination of Transactions under the Master Agreement
 
1.           Citibank and the Counterparty each hereby acknowledge (a) the
payment in full of all amounts owing under the Master Agreement that became due
and payable on or prior to the date hereof (other than payments referred to in
the following clause (c)), (b) the termination on the date hereof of all
Transactions outstanding on the date hereof under the Master Agreement and
(c) that, upon the making of all payments opposite the provisions entitled
"Counterparty First Floating Amounts", "Counterparty Second Floating Amounts",
"Counterparty Third Floating Amounts", "Citibank Fixed Amounts" and "Citibank
Floating Amounts" in Clause 2 of the TRS Confirmation arising by reason of the
termination on the date hereof of all Transactions outstanding under the Master
Agreement, the Master Agreement (including the TRS Confirmation) shall be hereby
terminated and shall have no further force or effect, except for contingent
obligations of the Counterparty (i) under Section 2(d)(ii) of the Master
Agreement and (ii) under Clause 2 of the TRS Confirmation with respect to
"Counterparty Second Floating Amounts" and under Clause 8 of the TRS
Confirmation.
 
2.           Citibank and the Counterparty agree that, notwithstanding anything
in the TRS Confirmation to the contrary, the Final Price in relation to each
Transaction being terminated on the date hereof shall be as set forth in
Exhibit A hereto.
 
Miscellaneous
 
3.           This Termination Acknowledgment may be executed in any number of
counterparts and on separate counterparts, each of which is an original, but all
of which together constitute one and the same instrument.  Delivery of an
executed counterpart of this Termination Acknowledgment by e-mail (PDF) or
telecopy shall be effective as delivery of a manually executed counterpart of
this Termination Acknowledgment.
 
4.           This Termination Acknowledgment shall be construed in accordance
with, and this Termination Acknowledgment and all matters arising out of or
relating in any way whatsoever to this Termination Acknowledgment (whether in
contract, tort or otherwise) shall be governed by, the law of the State of New
York.
 
 
 

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IN WITNESS WHEREOF, the undersigned have caused this Termination Acknowledgment
to be duly executed as of the date first written above.
 

   
CITIBANK, N.A.
               
 
         
By:
/s/ Vincent Nocerino
     
Name: Vincent Nocerino 
   
 
Title: Vice President 

 
 

   
EP INVESTMENTS LLC
               
 
         
By:
/s/ Gerald F. Stahlecker
   
 
Name: Gerald F. Stahlecker 
   
 
Title: Executive Vice President 

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