# EXHIBIT 4.30

# GUARANTY AGREEMENT
(364-Day Credit Facility)

# by

# ENTERPRISE PRODUCTS
PARTNERS L.P.

# in favor of

# WACHOVIA BANK, NATIONAL ASSOCIATION, as
Administrative Agent

# Dated as of October
30, 2003



---

TABLE OF CONTENTS

|            |  | Page
|----------- |  | ----
|
|Section 1.1 |  |     
|Section 1.2 |  |     
|Section 1.3 |  |     

|ARTICLE 2The Guaranty
|---------------------
|Section 2.1          
|Section 2.2          
|Section 2.3          
|Section 2.4          
|Section 2.5          
|Section 2.6          
|Section 2.7          
|Section 2.8          
|                     

|ARTICLE 3Representations and Warranties
|---------------------------------------
|Section 3.1                            
|Section 3.2                            

|ARTICLE 4Subordination of Indebtedness
|--------------------------------------
|Section 4.1                           
|Section 4.2                           
|Section 4.3                           
|Section 4.4                           
|Section 4.5                           

|ARTICLE 5Miscellaneous
|----------------------
|Section 5.1           
|Section 5.2           
|Section 5.3           
|Section 5.4           
|Section 5.5           
|Section 5.6           
|Section 5.7           
|Section 5.8           

i

---

ii

---

GUARANTY AGREEMENT
(364-Day Credit Facility)

THIS
GUARANTY AGREEMENT, dated as of October 30, 2003, by ENTERPRISE PRODUCTS PARTNERS L.P., a
Delaware limited partnership (the Guarantor), is in favor of WACHOVIA
BANK, NATIONAL ASSOCIATION, as Administrative Agent (the Agent) for the
several lenders (Lenders) that are or become parties to the Credit
Agreement defined below.

W
I T N E S S E T H:

WHEREAS,
ENTERPRISE PRODUCTS OPERATING L.P., a Delaware limited partnership (the
Borrower), the Agent, Bank One, NA, as Syndication Agent, Royal Bank of
Canada, The Bank of Nova Scotia and SunTrust Bank, as Co-Documentation Agents, and the
Lenders have entered into that certain 364-Day Revolving Credit Agreement dated as of
October 30, 2003 (as the same may be amended, supplemented or otherwise modified from time
to time, the Credit Agreement); and

WHEREAS,
one of the terms and conditions stated in the Credit Agreement for the making of the loans
described therein is the execution and delivery to the Agent for the benefit of the
Lenders of this Guaranty Agreement;

NOW,
THEREFORE, (i) in order to comply with the terms and conditions of the Credit
Agreement, (ii) to induce the Lenders, at any time or from time to time, to loan
monies, with or without security to or for the account of Borrower in accordance with the
terms of the Credit Agreement, (iii) at the special insistence and request of the
Lenders, and (iv) for other good and valuable consideration, the receipt and
sufficiency of which is hereby acknowledged, Guarantor hereby agrees as follows:

ARTICLE 1

General Terms

Section
1.1   Terms Defined Above. As used in this Guaranty Agreement, the terms
Agent, Borrower, Credit
Agreement, Guarantor and Lenders shall
have the meanings indicated above.

Section
1.2   Certain Definitions. As used in this Guaranty Agreement, the following terms
shall have the following meanings, unless the context otherwise requires:

| | Guarantor
Claims shall have the meaning indicated in Section 4.1 hereof.
| | --------------------------------------------------------------------------

| | Guaranty
Agreement shall mean this Guaranty Agreement, as the same may from time to time
be amended, supplemented, or otherwise modified.
| | -------------------------------------------------------------------------------------------------------------------------------------------

| | Liabilities
shall mean (a) any and all Indebtedness of the Borrower pursuant to the Credit Agreement,
including without limitation (i) the unpaid principal of and interest
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------



---

| | on the Loans,
including without limitation, interest accruing subsequent to the filing of a petition or
other action concerning bankruptcy or other similar proceeding, and (ii) any other amount
owed by the Borrower under the Credit Agreement, including without limitation, fees and
indemnity payments, and (b) all renewals, rearrangements, increases, extensions for any
period, amendments, supplements, exchanges or reissuances in whole or in part of the
Indebtedness of Borrower under the Credit Agreement, or any other documents or instruments
evidencing any of the above.
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Section
1.3   Credit Agreement Definitions. Unless otherwise defined herein, all terms
beginning with a capital letter which are defined in the Credit Agreement shall have the
same meanings herein as therein.

ARTICLE 2

The Guaranty

Section
2.1   Liabilities Guaranteed. Guarantor hereby irrevocably and unconditionally
guarantees in favor of the Agent for the benefit of the Lenders the prompt payment of the
Liabilities when due, whether at maturity or otherwise.

Section
2.2   Nature of Guaranty. This Guaranty Agreement is an absolute, irrevocable,
completed and continuing guaranty of payment and not a guaranty of collection, and no
notice of the Liabilities or any extension of credit already or hereafter contracted by or
extended to Borrower need be given to Guarantor. This Guaranty Agreement may not be
revoked by Guarantor and shall continue to be effective with respect to debt under the
Liabilities arising or created after any attempted revocation by Guarantor and shall
remain in full force and effect until the Liabilities are paid in full and the Commitments
are terminated, notwithstanding that from time to time prior thereto no Liabilities may be
outstanding. Borrower and the Lenders may modify, alter, rearrange, extend for any period
and/or renew from time to time the Liabilities, and the Lenders may waive any Default or
Events of Default without notice to the Guarantor and in such event Guarantor will remain
fully bound hereunder on the Liabilities. This Guaranty Agreement shall continue to be
effective or be reinstated, as the case may be, if at any time any payment of the
Liabilities is rescinded or must otherwise be returned by any of the Lenders upon the
insolvency, bankruptcy or reorganization of Borrower or otherwise, all as though such
payment had not been made. This Guaranty Agreement may be enforced by the Agent and any
subsequent holder of any of the Liabilities and shall not be discharged by the assignment
or negotiation of all or part of the Liabilities. Guarantor hereby expressly waives
presentment, demand, notice of non-payment, protest and notice of protest and dishonor,
notice of Default or Event of Default, notice of intent to accelerate the maturity and
notice of acceleration of the maturity and any other notice in connection with the
Liabilities, and also notice of acceptance of this Guaranty Agreement, acceptance on the
part of the Agent for the benefit of the Lenders being conclusively presumed by the
Lenders request for this Guaranty Agreement and delivery of the same to the Agent.

Section
2.3   Agents Rights. Guarantor authorizes the Agent, without notice or demand
and without affecting Guarantors liability hereunder, to take and hold security for
the payment of

2

---

this Guaranty Agreement and/or the Liabilities, and exchange, enforce,
waive and release any such security; and to apply such security and direct the order or
manner of sale thereof as the Agent in its discretion may determine; and to obtain a
guaranty of the Liabilities from any one or more Persons and at any time or times to
enforce, waive, rearrange, modify, limit or release any of such other Persons from their
obligations under such guaranties.

Section
2.4   Guarantors Waivers.

| | (a)   
               General. Guarantor waives any right to require any of the Lenders to
               (i) proceed against Borrower or any other person liable on the Liabilities,
               (ii) enforce any of their rights against any other guarantor of the
               Liabilities, (iii) proceed or enforce any of their rights against or
               exhaust any security given to secure the Liabilities, (iv) have Borrower
               joined with Guarantor in any suit arising out of this Guaranty Agreement and/or
               the Liabilities, or (v) pursue any other remedy in the Lenders powers
               whatsoever. Except as provided in the Credit Agreement, the Lenders shall not be
               required to mitigate damages or take any action to reduce, collect or enforce
               the Liabilities, and the failure to so mitigate or take any such action shall
               not release the Guarantor from this Guaranty Agreement. Guarantor waives any
               defense arising by reason of any disability, lack of partnership authority or
               power, or other defense of Borrower or any other guarantor of the Liabilities,
               and shall remain liable hereon regardless of whether Borrower or any other
               guarantor be found not liable thereon for any reason. Whether and when to
               exercise any of the remedies of the Lenders under the Credit Agreement shall be
               in the sole and absolute discretion of the Agent, and no delay by the Agent in
               enforcing any remedy, including delay in conducting a foreclosure sale, shall be
               a defense to the Guarantors liability under this Guaranty Agreement. To
               the extent allowed by applicable law, the Guarantor hereby waives any good faith
               duty on the part of the Agent in exercising any remedies provided in the Credit
               Agreement.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (b)   
               Subrogation. Until the Liabilities have been paid in full, the Guarantor
               waives all rights of subrogation or reimbursement against the Borrower, whether
               arising by contract or operation of law (including, without limitation, any such
               right arising under any federal or state bankruptcy or insolvency laws) and
               waives any right to enforce any remedy which the Lenders now have or may
               hereafter have against the Borrower, and waives any benefit or any right to
               participate in any security now or hereafter held by the Agent or any Lender.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Section
2.5   Maturity of Liabilities; Payment. Guarantor agrees that if the maturity of any
of the Liabilities is accelerated by bankruptcy or otherwise, such maturity shall also be
deemed accelerated for the purpose of this Guaranty Agreement without demand or notice to
Guarantor. Guarantor will, forthwith upon notice from the Agent, pay to the Agent the
amount due and unpaid by Borrower and guaranteed hereby. The failure of the Agent to give
this notice shall not in any way release Guarantor hereunder.

Section
2.6   Agents Expenses. If Guarantor fails to pay the Liabilities after notice
from the Agent of Borrowers failure to pay any Liabilities at maturity, and if the
Agent obtains the services of an attorney for collection of amounts owing by Guarantor
hereunder, or obtaining advice of counsel in respect of any of its rights under this
Guaranty Agreement, or if suit is filed to enforce

3

---

this Guaranty Agreement, or if
proceedings are had in any bankruptcy, receivership or other judicial proceedings for the
establishment or collection of any amount owing by Guarantor hereunder, or if any amount
owing by Guarantor hereunder is collected through such proceedings, Guarantor agrees to
pay to the Agent the Agents reasonable attorneys fees.

Section
2.7   Liability. It is expressly agreed that the liability of the Guarantor for the
payment of the Liabilities guaranteed hereby shall be primary and not secondary.

Section
2.8   Events and Circumstances Not Reducing or Discharging Guarantors
Obligations. Guarantor hereby consents and agrees to each of the following to the
fullest extent permitted by law, and agrees that Guarantors obligations under this
Guaranty Agreement shall not be released, diminished, impaired, reduced or adversely
affected by any of the following, and waives any rights (including without limitation
rights to notice) which Guarantor might otherwise have as a result of or in connection
with any of the following:

| | (a)   
               Modifications, etc. Any renewal, extension, modification, increase,
               decrease, alteration, rearrangement, exchange or reissuance of all or any part
               of the Liabilities, or of the Letters of Credit or the Credit Agreement or any
               instrument executed in connection therewith, or any contract or understanding
               between Borrower and any of the Lenders, or any other Person, pertaining to the
               Liabilities;
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (b)   
               Adjustment, etc. Any adjustment, indulgence, forbearance or compromise
               that might be granted or given by any of the Lenders to Borrower or Guarantor or
               any Person liable on the Liabilities;
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (c)   
               Condition of Borrower or Guarantor. The insolvency, bankruptcy
               arrangement, adjustment, composition, liquidation, disability, dissolution,
               death or lack of power of Borrower or Guarantor or any other Person at any time
               liable for the payment of all or part of the Liabilities; or any dissolution of
               Borrower or Guarantor, or any sale, lease or transfer of any or all of the
               assets of Borrower or Guarantor, or any changes in the shareholders, partners,
               or members of Borrower or Guarantor; or any reorganization of Borrower or
               Guarantor;
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (d)   
               Invalidity of Liabilities. The invalidity, illegality or unenforceability
               of all or any part of the Liabilities, or any document or agreement executed in
               connection with the Liabilities, for any reason whatsoever, including without
               limitation the fact that the Liabilities, or any part thereof, exceed the amount
               permitted by law, the act of creating the Liabilities or any part thereof is
               ultra vires, the officers or representatives executing the
               documents or otherwise creating the Liabilities acted in excess of their
               authority, the Liabilities violate applicable usury laws, the Borrower has valid
               defenses, claims or offsets (whether at law, in equity or by agreement) which
               render the Liabilities wholly or partially uncollectible from Borrower, the
               creation, performance or repayment of the Liabilities (or the execution,
               delivery and performance of any document or instrument representing part of the
               Liabilities or executed in connection with the Liabilities, or given to secure
               the repayment of the Liabilities) is illegal, uncollectible, legally impossible
               or
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

4

---

| | unenforceable, or the Credit Agreement or other documents or instruments
               pertaining to the Liabilities have been forged or otherwise are irregular or not
               genuine or authentic;
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (e)   
               Release of Obligors. Any full or partial release of the liability of
               Borrower on the Liabilities or any part thereof, of any co-guarantors, or any
               other Person now or hereafter liable, whether directly or indirectly, jointly,
               severally, or jointly and severally, to pay, perform, guarantee or assure the
               payment of the Liabilities or any part thereof, it being recognized,
               acknowledged and agreed by Guarantor that Guarantor may be required to pay the
               Liabilities in full without assistance or support of any other Person, and
               Guarantor has not been induced to enter into this Guaranty Agreement on the
               basis of a contemplation, belief, understanding or agreement that other parties
               other than the Borrower will be liable to perform the Liabilities, or the
               Lenders will look to other parties to perform the Liabilities.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (f)   
               Other Security. The taking or accepting of any other security, collateral
               or guaranty, or other assurance of payment, for all or any part of the
               Liabilities;
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (g)   
               Release of Collateral, etc. Any release, surrender, exchange,
               subordination, deterioration, waste, loss or impairment (including without
               limitation negligent, willful, unreasonable or unjustifiable impairment) of any
               collateral, property or security, at any time existing in connection with, or
               assuring or securing payment of, all or any part of the Liabilities;
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (h)   
               Care and Diligence. The failure of the Lenders or any other Person to
               exercise diligence or reasonable care in the preservation, protection,
               enforcement, sale or other handling or treatment of all or any part of such
               collateral, property or security;
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (i)   
               Status of Liens. The fact that any collateral, security, security
               interest or lien contemplated or intended to be given, created or granted as
               security for the repayment of the Liabilities shall not be properly perfected or
               created, or shall prove to be unenforceable or subordinate to any other security
               interest or lien, it being recognized and agreed by Guarantor that Guarantor is
               not entering into this Guaranty Agreement in reliance on, or in contemplation of
               the benefits of, the validity, enforceability, collectability or value of any
               collateral for the Liabilities;
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (j)   
               Payments Rescinded. Any payment by Borrower to the Lenders is held to
               constitute a preference under the bankruptcy laws, or for any reason the Lenders
               are required to refund such payment or pay such amount to Borrower or someone
               else; or
| | ----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (k)   
               Other Actions Taken or Omitted. Any other action taken or omitted to be
               taken with respect to the Credit Agreement, the Liabilities, or the security and
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

5

---

| | collateral therefor, whether or not such action or omission prejudices Guarantor
               or increases the likelihood that Guarantor will be required to pay the
               Liabilities pursuant to the terms hereof; it being the unambiguous and
               unequivocal intention of Guarantor that Guarantor shall be obligated to pay the
               Liabilities when due, notwithstanding any occurrence, circumstance, event,
               action, or omission whatsoever, whether contemplated or uncontemplated, and
               whether or not otherwise or particularly described herein, except for the full
               and final payment and satisfaction of the Liabilities.
| | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

ARTICLE 3

Representations and
Warranties

Section
3.1   By Guarantor. In order to induce the Lenders to accept this Guaranty Agreement,
Guarantor represents and warrants to the Lenders (which representations and warranties
will survive the creation of the Liabilities and any extension of credit thereunder) that:

| | (a)   
               Benefit to Guarantor. Guarantors guaranty pursuant to this Guaranty
               Agreement reasonably may be expected to benefit, directly or indirectly,
               Guarantor.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (b)   
               Existence. Guarantor is a limited partnership duly organized and legally
               existing under the laws of the State of Delaware and is duly qualified in all
               jurisdictions wherein the property owned or the business transacted by it makes
               such qualification necessary, except where the failure to be so qualified could
               reasonably be expected to have a Material Adverse Effect.
| | ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (c)   
               Power and Authorization. Guarantor is duly authorized and empowered to
               execute, deliver and perform this Guaranty Agreement and all action on
               Guarantors part requisite for the due execution, delivery and performance
               of this Guaranty Agreement has been duly and effectively taken.
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (d)   
               Binding Obligations. This Guaranty Agreement constitutes a valid and
               binding obligation of Guarantor, enforceable in accordance with its terms
               (except that enforcement may be subject to any applicable bankruptcy, insolvency
               or similar laws generally affecting the enforcement of creditors rights).
| | -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (e)   
               No Legal Bar. This Guaranty Agreement will not violate any provisions of
               Guarantors limited partnership agreement or any contract, agreement, law,
               regulation, order, injunction, judgment, decree or writ to which Guarantor is
               subject.
| | -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

| | (f)   
               No Consent. Guarantors execution, delivery and performance of this
               Guaranty Agreement does not require the consent or approval of any other Person,
               including without limitation any regulatory authority or governmental body of
               the
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

6

---

| | United States or any state thereof or any political subdivision of the
               United States or any state thereof.
| | -------------------------------------------------------------------------------------------------------------------------

| | (g)   
               Solvency. The Guarantor hereby represents that (i) it is not insolvent as
               of the date hereof and will not be rendered insolvent as a result of this
               Guaranty Agreement, (ii) it is not engaged in business or a transaction, or
               about to engage in a business or a transaction, for which any property or assets
               remaining with such Guarantor is unreasonably small capital, and (iii) it does
               not intend to incur, or believe it will incur, debts that will be beyond its
               ability to pay as such debts mature.
| | ---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

Section
3.2   No Representation by Lenders. Neither the Lenders nor any other Person has made
any representation, warranty or statement to the Guarantor in order to induce the
Guarantor to execute this Guaranty Agreement.

ARTICLE 4

Subordination of
Indebtedness

Section
4.1   Subordination of All Guarantor Claims. As used herein, the term
Guarantor Claims shall mean all debts and liabilities of Borrower to
Guarantor, whether such debts and liabilities now exist or are hereafter incurred or
arise, or whether the obligation of Borrower thereon be direct, contingent, primary,
secondary, several, joint and several, or otherwise, and irrespective of whether such
debts or liabilities be evidenced by note, contract, open account, or otherwise, and
irrespective of the person or persons in whose favor such debts or liabilities may, at
their inception, have been, or may hereafter be created, or the manner in which they have
been or may hereafter be acquired by Guarantor. The Guarantor Claims shall include without
limitation all rights and claims of Guarantor against Borrower arising as a result of
subrogation or otherwise as a result of Guarantors payment of all or a portion of
the Liabilities. Until the Liabilities shall be paid and satisfied in full and Guarantor
shall have performed all of its obligations hereunder, Guarantor shall not receive or
collect, directly or indirectly, from Borrower or any other party any amount upon the
Guarantor Claims if an Event of Default exists at the time of such receipt or collection.

Section
4.2   Claims in Bankruptcy. In the event of receivership, bankruptcy, reorganization,
arrangement, debtors relief, or other insolvency proceedings involving Borrower as
debtor, the Lenders shall have the right to prove their claim in any proceeding, so as to
establish its rights hereunder and receive directly from the receiver, trustee or other
court custodian, dividends and payments which would otherwise be payable upon Guarantor
Claims up to the amount of the Liabilities. Guarantor hereby assigns such dividends and
payments to the Lenders up to the amount of the Liabilities. Should the Agent or any
Lender receive, for application upon the Liabilities, any such dividend or payment which
is otherwise payable to Guarantor, and which, as between Borrower and Guarantor, shall
constitute a credit upon the Guarantor Claims, then upon payment in full of the
Liabilities, Guarantor shall become subrogated to the rights of the Lenders to the extent
that such payments to the Lenders on the Guarantor Claims have contributed toward the
liquidation of the Liabilities, and such subrogation shall be with respect to that
proportion of the Liabilities which would have been unpaid if the Agent or a Lender had
not received dividends or payments upon the Guarantor Claims.

7

---

Section
4.3   Payments Held in Trust. In the event that notwithstanding Sections 4.1
and 4.2 above, Guarantor should receive any funds, payments, claims or distributions
which is prohibited by such Sections, Guarantor agrees to hold in trust for the Lenders an
amount equal to the amount of all funds, payments, claims or distributions so received,
and agrees that it shall have absolutely no dominion over the amount of such funds,
payments, claims or distributions except to pay them promptly to the Agent, and Guarantor
covenants promptly to pay the same to the Agent.

Section
4.4   Liens Subordinate. Guarantor agrees that any liens, security interests,
judgment liens, charges or other encumbrances upon Borrowers assets securing payment
of the Guarantor Claims shall be and remain inferior and subordinate to any liens,
security interests, judgment liens, charges or other encumbrances upon Borrowers
assets securing payment of the Liabilities, regardless of whether such encumbrances in
favor of Guarantor, the Agent or the Lenders presently exist or are hereafter created or
attach. Without the prior written consent of the Lenders, Guarantor shall not
(a) exercise or enforce any creditors right it may have against the Borrower,
or (b) foreclose, repossess, sequester or otherwise take steps or institute any
action or proceeding (judicial or otherwise, including without limitation the commencement
of or joinder in any liquidation, bankruptcy, rearrangement, debtors relief or
insolvency proceeding) to enforce any lien, mortgages, deeds of trust, security interest,
collateral rights, judgments or other encumbrances on assets of Borrower held by
Guarantor.

Section
4.5   Notation of Records. All promissory notes accepted by or held by Guarantor
shall contain a specific written notice thereon that the indebtedness evidenced thereby is
subordinated under the terms of this Guaranty Agreement.

ARTICLE 5

Miscellaneous

Section
5.1   Successors and Assigns. This Guaranty Agreement is and shall be in every
particular available to the respective successors and assigns of the Agent and the Lenders
and is and shall always be fully binding upon the legal representatives, heirs, successors
and assigns of Guarantor, notwithstanding that some or all of the monies, the repayment of
which is guaranteed by this Guaranty Agreement, may be actually advanced after any
bankruptcy, receivership, reorganization, death, disability or other event affecting
Guarantor.

Section
5.2   Notices. Any notice or demand to Guarantor under or in connection with this
Guaranty Agreement may be given and shall conclusively be deemed and considered to have
been given and received in accordance with Section 9.01 of the Credit Agreement, addressed
to Guarantor at the address on the signature page hereof or at such other address provided
by the Guarantor to the Agent in writing.

Section
5.3   Construction. This Guaranty Agreement is a contract made under and shall be
construed in accordance with and governed by the laws of the State of New York.

8

---

Section
5.4   Invalidity. In the event that any one or more of the provisions contained in
this Guaranty Agreement shall, for any reason, be held invalid, illegal or unenforceable
in any respect, such invalidity, illegality or unenforceability shall not affect any other
provision of this Guaranty Agreement.

Section
5.5   Liability of General Partner. It is hereby understood and agreed that
Enterprise Products GP, LLC, the general partner of the Guarantor, shall have no personal
liability, as general partner or otherwise, for the payment of the Liabilities or any
amount owing or to be owing hereunder.

Section
5.6   ENTIRE AGREEMENT. THIS WRITTEN GUARANTY AGREEMENT EMBODIES THE ENTIRE
AGREEMENT AND UNDERSTANDING BETWEEN THE AGENT, THE LENDERS AND THE GUARANTOR AND
SUPERSEDES ALL OTHER AGREEMENTS AND UNDERSTANDINGS BETWEEN SUCH PARTIES RELATING TO THE
SUBJECT MATTER HEREOF AND THEREOF. THIS WRITTEN GUARANTY AGREEMENT REPRESENTS THE FINAL
AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR,
CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL
AGREEMENTS BETWEEN THE PARTIES.

Section
5.7   Submission to Jurisdiction. The Guarantor hereby irrevocably and
unconditionally submits, for itself and its property, to the nonexclusive jurisdiction of
the Supreme Court of the State of New York sitting in New York County and of the United
States District Court of the Southern District of New York, and any appellate court from
any thereof, in any action or proceeding arising out of or relating to this Guaranty
Agreement, or for recognition or enforcement of any judgment, and the Guarantor hereby
irrevocably and unconditionally agrees that all claims in respect of any such action or
proceeding may be heard and determined in such New York State or, to the extent permitted
by law, in such Federal court. The Guarantor agrees that a final judgment in any such
action or proceeding shall be conclusive and may be enforced in other jurisdictions by
suit on the judgment or in any other manner provided by law. Nothing in this Guaranty
Agreement shall affect any right that the Administrative Agent may otherwise have to bring
any action or proceeding relating to this Guaranty Agreement against the Guarantor or its
properties in the courts of any jurisdiction. The Guarantor hereby irrevocably and
unconditionally waives, to the fullest extent it may legally and effectively do so, any
objection which it may now or hereafter have to the laying of venue of any suit, action or
proceeding arising out of or relating to this Guaranty Agreement in any court referred to
above. The Guarantor hereby irrevocably waives, to the fullest extent permitted by law,
the defense of an inconvenient forum to the maintenance of such action or proceeding in
any such court. The Guarantor irrevocably consents to service of process in the manner
provided for notices in Section 5.2 above. Nothing in this Guaranty Agreement will affect
the right of Administrative Agent or any Lender to serve process in any other manner
permitted by law.

SECTION
5.8   WAIVER OF JURY TRIAL. THE GUARANTOR HEREBY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL
PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS GUARANTY AGREEMENT OR
THE TRANSACTIONS CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT

9

---

OR ANY OTHER
THEORY). THE GUARANTOR (A) CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF
ADMINISTRATIVE AGENT, ANY LENDER OR ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR
OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE
THE FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND ADMINISTRATIVE AGENT, BY ITS
ACCEPTANCE HEREOF, HAVE BEEN INDUCED TO ENTER INTO OR ACCEPT THIS GUARANTY AGREEMENT BY,
AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

10

---

WITNESS
THE EXECUTION HEREOF, as of the date first above written.

|
|
|
|
|
|
|
|
|

11

---