Exhibit 10.7
 Execution Version
 AMENDED AND RESTATED SENIOR SECURED REVOLVING CREDIT AGREEMENT
 dated as of March 30, 2010
 among
 KAYNE ANDERSON ENERGY DEVELOPMENT COMPANY
 THE LENDERS FROM TIME TO TIME PARTY HERETO
 and
 SUNTRUST BANK
 CITIBANK, NA
 UBS SECURITIES LLC
 
 SUNTRUST ROBINSON HUMPHREY, INC.




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TABLE OF CONTENTS
 PageARTICLE I DEFINITIONS; CONSTRUCTION
    
    
    1Section 1.1. Definitions
    
    
    1Section 1.2. Classifications of Loans and Borrowings
    
    
    25Section 1.3. Accounting Terms and Determination
    
    
    25Section 1.4. Terms Generally
    
    
    26ARTICLE II AMOUNT AND TERMS OF THE COMMITMENTS
    
    
    26Section 2.1. General Description of Facilities
    
    
    26Section 2.2. Revolving Loans
    
    
    26Section 2.3. Procedure for Borrowings
    
    
    26Section 2.4. Swingline Commitment
    
    
    27Section 2.5. Funding of Borrowings
    
    
    28Section 2.6. Interest Elections
    
    
    29Section 2.7. Optional Reduction and Termination of Commitments
    
    
    30Section 2.8. Repayment of Loans
    
    
    30Section 2.9. Evidence of Indebtedness
    
    
    30Section 2.10. Prepayments
    
    
    31Section 2.11. Interest on Loans
    
    
    32Section 2.12. Fees
    
    
    32Section 2.13. Computation of Interest and Fees
    
    
    33Section 2.14. Inability to Determine Interest Rates
    
    
    33Section 2.15. Illegality
    
    
    34Section 2.16. Increased Costs
    
    
    34Section 2.17. Funding Indemnity
    
    
    35Section 2.18. Taxes
    
    
    35Section 2.19. Payments Generally; Pro Rata Treatment; Sharing of Set-offs
    
    
    36Section 2.20. Increase of Commitments; Additional Lenders
    
    
    38Section 2.21. Mitigation of Obligations
    
    
    39Section 2.22. Replacement of Lenders
    
    
    39Section 2.23. Reallocation and Cash Collateralization of Defaulting Lender
or Potential Defaulting Lender Commitment
    
    
    40ARTICLE III CONDITIONS PRECEDENT TO LOANS
    
    
    41Section 3.1. Conditions To Effectiveness
    
    
    41Section 3.2. Each Credit Event
    
    
    43Section 3.3. Delivery of Documents
    
    
    45ARTICLE IV REPRESENTATIONS AND WARRANTIES
    
    
    45Section 4.1. Existence; Power
    
    
    45Section 4.2. Organizational Power; Authorization
    
    
    45Section 4.3. Governmental Approvals; No Conflicts
    
    
    45Section 4.4. Financial Statements
    
    
    45Section 4.5. Litigation and Environmental Matters
    
    
    46Section 4.6. Compliance with Laws and Agreements
    
    
    46Section 4.7. Investment Company Act, Etc.
    
    
    46Section 4.8. Taxes
    
    
    46




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PageSection 4.9. Margin Regulations
    
    
    46Section 4.10. Investment Objectives
    
    
    47Section 4.11. ERISA
    
    
    47Section 4.12. Ownership of Property
    
    
    47Section 4.13. Disclosure
    
    
    47Section 4.14. Labor Relations
    
    
    48Section 4.15. Subsidiaries
    
    
    48Section 4.16. Solvency
    
    
    48Section 4.17. OFAC
    
    
    48Section 4.18. Patriot Act
    
    
    48ARTICLE V AFFIRMATIVE COVENANTS
    
    
    48Section 5.1. Financial Statements and Other Information
    
    
    48Section 5.2. Notices of Material Events
    
    
    50Section 5.3. Existence; Conduct of Business
    
    
    51Section 5.4. Compliance with Laws, Etc.
    
    
    51Section 5.5. Payment of Obligations
    
    
    51Section 5.6. Books and Records
    
    
    51Section 5.7. Visitation, Inspection, Etc.
    
    
    51Section 5.8. Maintenance of Properties; Insurance
    
    
    52Section 5.9. Use of Proceeds
    
    
    52Section 5.10. Additional Subsidiaries; Additional Collateral
    
    
    52Section 5.11. Portfolio Valuation and Diversifications, Etc.
    
    
    52Section 5.12. Calculation of Borrowing Base
    
    
    54Section 5.13. Compliance with Investment Objectives
    
    
    55ARTICLE VI FINANCIAL COVENANTS
    
    
    55Section 6.1. Minimum Asset Coverage Ratio
    
    
    55Section 6.2. Minimum Liquidity
    
    
    55Section 6.3. Minimum Consolidated Shareholders Equity
    
    
    55ARTICLE VII NEGATIVE COVENANTS
    
    
    56Section 7.1. Indebtedness and Preferred Equity
    
    
    56Section 7.2. Negative Pledge
    
    
    56Section 7.3. Fundamental Changes
    
    
    57Section 7.4. Restricted Payments
    
    
    57Section 7.5. Sale of Assets
    
    
    59Section 7.6. Transactions with Affiliates
    
    
    59Section 7.7. Restrictive Agreements
    
    
    59Section 7.8. Sale and Leaseback Transactions
    
    
    60Section 7.9. Hedging Transactions
    
    
    60Section 7.10. Accounting Changes
    
    
    60Section 7.11. Amendment to Material Documents
    
    
    60Section 7.12. Loans, Etc.
    
    
    60Section 7.13. Deposit Accounts; Other Accounts
    
    
    61Section 7.14. Government Regulation
    
    
    61ARTICLE VIII EVENTS OF DEFAULT
    
    
    61Section 8.1. Events of Default
    
    
    61ARTICLE IX THE ADMINISTRATIVE AGENT
    
    
    64
  ii




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PageSection 9.1. Appointment of Administrative Agent
    
    
    64Section 9.2. Nature of Duties of Administrative Agent
    
    
    64Section 9.3. Lack of Reliance on the Administrative Agent
    
    
    64Section 9.4. Certain Rights of the Administrative Agent
    
    
    65Section 9.5. Reliance by Administrative Agent
    
    
    65Section 9.6. The Administrative Agent in its Individual Capacity
    
    
    65Section 9.7. Successor Administrative Agent
    
    
    65Section 9.8. Withholding Tax
    
    
    66Section 9.9. Administrative Agent May File Proofs of Claim
    
    
    66Section 9.10. Authorization to Execute other Loan Documents
    
    
    67Section 9.11. Syndication Agent and Documentation Agent
    
    
    67Section 9.12. Approved Third Party Appraiser Release
    
    
    67ARTICLE X MISCELLANEOUS
    
    
    67Section 10.1. Notices
    
    
    67Section 10.2. Waiver; Amendments
    
    
    69Section 10.3. Expenses; Indemnification
    
    
    71Section 10.4. Successors and Assigns
    
    
    72Section 10.5. Governing Law; Jurisdiction; Consent to Service of Process
    
    
    75Section 10.6. WAIVER OF JURY TRIAL
    
    
    76Section 10.7. Right of Setoff
    
    
    76Section 10.8. Counterparts; Integration
    
    
    76Section 10.9. Survival
    
    
    76Section 10.10. Severability
    
    
    77Section 10.11. Confidentiality
    
    
    77Section 10.12. Interest Rate Limitation
    
    
    77Section 10.13. Waiver of Effect of Corporate Seal
    
    
    77Section 10.14. Patriot Act
    
    
    77Section 10.15. NO ORAL AGREEMENTS, WAIVER
    
    
    78Section 10.16. Location of Closing
    
    
    78Section 10.17. Existing Credit Agreement
    
    
    78Section 10.18. Amendment and Restatement
    
    
    78
  iii




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Schedules
 Schedule I
    
    
    
    Commitment AmountsSchedule II
    
    
    
    Approved Dealers and AppraisersSchedule III
    
    
    
    Approved Brokerage AccountsSchedule 4.5
    
    
    
    Environmental MattersSchedule 4.10
    
    
    
    Investment ObjectiveSchedule 4.15
    
    
    
    SubsidiariesSchedule 7.1
    
    
    
    Outstanding IndebtednessSchedule 7.2
    
    
    
    Existing Liens
 Exhibits
 Exhibit A
    
    
    
    Form of Assignment and AcceptanceExhibit B
    
    
    
    Form of Subsidiary GuarantyExhibit 2.3
    
    
    
    Form of Notice of Revolving BorrowingExhibit 2.4
    
    
    
    Form of Notice of Swingline BorrowingExhibit 2.6(b)
    
    
    
    Form of Continuation/ConversionExhibit 3.1(c)(v)
    
    
    
    Form of Secretarys CertificateExhibit 3.1(c)(viii)
    
    
    
    Form of Responsible Officers CertificateExhibit 5.1(c)
    
    
    
    Form of Compliance CertificateExhibit 5.1(e)
    
    
    
    Form of Borrowing Base CertificateExhibit 7.4
    
    
    
    Form of Distributable Cash Flow CertificateExhibit 9.10
    
    
    
    Form of Approved Third Party Appraiser Release
  iv




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AMENDED AND RESTATED SENIOR SECURED REVOLVING CREDIT AGREEMENT
 THIS AMENDED AND RESTATED SENIOR SECURED REVOLVING CREDIT AGREEMENT Agreement Borrower Lenders Administrative Agent Swingline Lender Syndication Agent Documentation Agent
 W I T N E S S E T H:
 WHEREAS, Existing Credit
Agreement
 WHEREAS
 NOW, THEREFORE
 ARTICLE I
 DEFINITIONS; CONSTRUCTION
 Section 1.1. Definitions
 Additional Commitment Amount Section
2.20
 Additional Lender Section 2.20
 Adjusted Borrowing Base minus
 Adjusted Revolving Credit Exposure Amount minus
 Adjusted LIBO Rate minus




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Administrative Agent
 Administrative Questionnaire
 Advance Rate Section 5.12(a) (b) (c)
 Portfolio Investment
    
    Quoted
    
    
    UnquotedCash, Cash Equivalents and Short-Term U.S. Government
Securities
    
    
    100
    %
    
    
    n.a.Long-Term U.S. Government Securities
    
    
    95
    %
    
    
    n.a.Performing First Lien Bank Loans
    
    
    80
    %
    
    
    70
    %Performing Second Lien Bank Loans
    
    
    70
    %
    
    
    60
    %Performing Unsecured Bank Loans
    
    
    65
    %
    
    
    55
    %Performing Non-Cash Pay Bank Loans
    
    
    55
    %
    
    
    45
    %Performing Cash Pay High Yield Securities
    
    
    60
    %
    
    
    50
    %Performing Non-Cash Pay High Yield Securities
    
    
    50
    %
    
    
    40
    %Performing Public MLP Common and Preferred Units
    
    
    50
    %
    
    
    45
    %Performing Private MLP Common and Preferred Units
    
    
    n.a.
    
    
    
    20
    %Performing Common Equity, Warrants and MLP Subordinated Units
    
    
    45
    %
    
    
    40
    %Non-Performing First Lien Bank Loans
    
    
    35
    %
    
    
    0
    %Non-Performing Second Lien Bank Loans
    
    
    25
    %
    
    
    0
    %Non-Performing High Yield Securities
    
    
    25
    %
    
    
    0
    %Non-Performing Unsecured Bank Loans
    
    
    20
    %
    
    
    0
    %Non-Performing Public MLP Common and Preferred Units
    
    
    35
    %
    
    
    0
    %
  2




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Affiliate
 Aggregate Commitment Amount
 Anti-Terrorism Order
  Applicable Lending Office
  Applicable Margin  ,
  Applicable Percentage  shall mean, as of any date,
 Approved Brokerage Accounts
 Approved Dealer
 Approved Fund
  3




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Approved Pricing Service
 Approved Third Party Appraiser
 Asset Coverage Ratio provided however
 Assignment and Acceptance Section
10.4(b) Exhibit A
 Availability Period
 Bank Loans
 Bank Product Amount Bank Product
Provider
 Bank Product Obligations Bank
Products
  4




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Bank Product Provider Bank Product
Amount
 Base Rate 1 2
 Borrower
  Borrowing
 Borrowing Availability
 Borrowing Base Section 5.12
 Borrowing Base Certificate Exhibit 5.12
 Borrowing Base Deficiency
 Borrowing Limit Section 5.1(e)
 Business Day
  5




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Capital Lease Obligations
 Capital Stock
 Cash
 Cash Collateralize Cash Collateralization
 Cash Equivalents
   provided
  provided
  6




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Change in Control
 Change in Law Section 2.16 b
 Class
 Clearing Accounts
 Closed End Company Required Threshold Section
6.1
 Closing Date Section
3.1 Section 3.2 Section
10.2
  7




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Code
 Collateral
 Collateral Accounts
 Commitment
 Compliance Certificate Exhibit 5.1(c)
 Contractual Obligation
 Control Agreement
 Deeds of Trust
 Default
 Defaulting Lender funding obligation
  8




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Default Interest Section 2.11 c
 Distributable Cash Flow plus PIK Shares plus Imputed MLP Dividends plus plus plus minus minus provided provided
 Distributable Cash Flow Certificate Exhibit 7.4
 Dollar(s) $
 Eligible Assignee Section 10.4
 Environmental Laws
 Environmental Liability
  9




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Equity Interests
 ERISA
 ERISA Affiliate
 ERISA Event 
 Eurodollar
 Eurodollar Reserve Percentage th
 Event of Default
  10




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 Excluded Taxes Section 2.18 e
 Existing Credit Agreement
 Existing Lenders
 Federal Funds Rate th
 Fee Letter
 First Lien Bank Loan
 Fiscal Quarter
 Fiscal Year
 Foreign Lender
 GAAP Section 1.3
 Governmental Authority
  11




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Guarantee guarantor primary obligor provided
 Hazardous Materials
 Hedging Obligations
 Hedging Transaction Master Agreement
 High Yield Securities
  12




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Indebtedness
 Indemnified Taxes
 Information Memorandum
 Interest Period provided,
     Investment Advisory Agreement
  13




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Investment Company Act
 Investment Objective Schedule 4.10
 Lender Insolvency Event
 Lender-Related Hedge Provider
 Lenders Section 2.20
 LIBOR
 Lien
  14




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Loan Documents
 Loan Parties
 Loans
 Lock-up Agreement Section 7.7
 Lock-up Term
 Long-Term U.S. Government Securities
 Material Adverse Effect
 Material Indebtedness
 MLP Subordinated Units
 MLP Units
 Moodys
  15




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Multiemployer Plan
 Net Mark to Market Exposure
 Non-Defaulting Lender
 Non-Performing First Lien Bank Loans
 Non-Performing High Yield Securities
 Non-Performing Bank Loans
 Non-Performing Public MLP Common and Preferred Units
 Non-Performing Second Lien Bank Loans
 Non-Performing Unsecured Bank Loans
 Notice of Conversion/Continuation Section 2.6 b
 Notice of Revolving Borrowing Section 2.3
 Notice of Swingline Borrowing Section 2.4
 Notices of Borrowing
 Obligations
  16




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OFAC
 Off-Balance Sheet Liabilities
 Offer Period
 OSHA
 Other Taxes
 Parent Company
 Participant Section 10.4(d)
 Patriot Act Section 10.14
 Payment Office
 PBGC 
 Perfection Certificate
 Performing
  17




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Performing Cash Pay Bank Loans
 Performing Cash Pay High Yield Securities
 Performing Common Equity
 Performing First Lien Bank Loans
 Performing Non-Cash Pay Bank Loans
 Performing Non-Cash Pay High Yield Securities
 Performing Private MLP Common and Preferred Units
 Performing Public MLP Common and Preferred Units
 Performing Second Lien Bank Loans
 Performing Unsecured Bank Loans
 Performing Warrants
 Permitted Encumbrances
    18




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provided
  provided
 Person
 Plan
  19




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Potential Defaulting Lender
 Portfolio Investment Section 5.12(a)(i) provided
 Preferred Stock
 Pro Rata Share
 Private MLP Common and Preferred Units
 Public MLP Common and Preferred Units Enbridge Kinder
 Quotations
  20




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Quoted Securities
 Quoted Securities Borrowing Base
 Register c Section
10.4
 Regulation D
 Regulation U
 Related Parties
 Release
 Required Lenders provided however 2 3 2 3
 Required Threshold Section 6.1
 Requirement of Law
 Responsible Officer
  Restricted Payment 
  21




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Revolving Commitment Schedule
I Section 2.20
 Revolving Commitment Amount
 Revolving Commitment Termination Date Section 2.7
 Revolving Credit Exposure
 Revolving Loan
 Right of First Offer
 S&P
 Sanctioned Country http://www.treas.gov/offices/eotffc/ofac/sanctions/index.html
 Sanctioned Person Specially Designated
Nationals and Blocked Persons http://www.treas.gov/offices/eotffc/ofac/sdn/index.html
 Security Agreement
  22




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Security Documents
 Second Lien Bank Loan
 Securities
 Securities Act
 Shareholders Equity
 Short-Term U.S. Government Securities
 Solvent
 Special Purpose Subsidiary
 Subsidiary parent
  23




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Subsidiary Guarantee Agreement Exhibit
B
 Subsidiary Guarantor Section
5.11
 Swingline Commitment
 Swingline Exposure Section 2.4
 Swingline Lender
 Swingline Loan
 Syndication Agent
 Synthetic Lease
 Synthetic Lease Obligations
 Tag Along Rights
 Taxes
  24




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Type
 Uniform Commercial Code UCC
 Unsecured Bank Loan
 U.S. Government Securities
 Value Section 5.12(a)(ii)(C) Section 5.12(a)(ii)(A) (B)
 Warrant
 Withdrawal Liability
 Section 1.2. Classifications of Loans and Borrowings
 Section 1.3. Accounting Terms and Determination Section 5.1 a provided
  25




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Section 1.4. Terms Generally
 ARTICLE II
 AMOUNT AND TERMS OF THE COMMITMENTS
 Section 2.1. General Description of Facilities Section 2.2 Section
2.3 Section
2.4 provided
 Section 2.2. Revolving Loans provided
 Section 2.3. Procedure for Borrowings Exhibit 2.3 Notice of Borrowing
  26




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##### 



provided Section 2.4
 Section 2.4. Swingline Commitment
 provided
 Exhibit
2.4 Notice of Swingline Borrowing
 Section 2.5
   27




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Section
2.4 c Section
2.4 d Section 2.4
 Section 2.5. Funding of Borrowings
 provided Section 2.4
   28




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Section 2.6. Interest Elections .
 Section 2.6
 Section 2.6 Exhibit 2.6(b) Notice of
Conversion/Continuation Section 2.3
   29




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Section 2.7. Optional Reduction and Termination of Commitments .
  provided Section 2.7
 Section 2.22
 Section 2.8. Repayment of Loans .
   Section 2.9. Evidence of Indebtedness Section 2.6 Section 2.6
  30




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##### 



prima facie provided
  Section 2.10. Prepayments
 Section 2.11(d provided Section 2.17 Section 2.2 Section 2.4
 Section 2.7 Section
2.17
   31




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##### 



Section 2.11. Interest on Loans .
 plus
  Default Interest plus plus
   Section 2.12. Fees
    32




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##### 



provided further
 Section 2.12(b)
 Section 2.13. Computation of Interest and Fees .
  Section 2.14. Inability to Determine Interest Rates
 )
  .
  33




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Section 2.15. Illegality .
 Section 2.16. Increased Costs
       34




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##### 



Section 2.16
 Section 2.16
 Section 2.17. Funding Indemnity Section 2.17
 Section 2.18. Taxes .
 provided, Section 2.18
  Section 2.18
  35




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##### 



or
 Section 2.19. Payments Generally; Pro Rata Treatment; Sharing of Set-offs .
 Section 2.16 2.17 2.18
  36




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##### 



Sections 2.16 2.17 2.18 10.3
 first second third fourth
 provided,
   37




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##### 



first second third fourth fifth sixth seventh provided however third fifth
 Section 2.20. Increase of Commitments; Additional Lenders .
 Additional Commitment Amount
 Section 2.21 Additional Lender provided however
 Section 2.21
  38




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Schedule I
 Section 2.20 Article III
 Section 2.21. Mitigation of Obligations. Section 2.16 Section 2.18 Section 2.16 Section
2.18
 Section 2.22. Replacement of Lenders Section 2.16 Section 2.18 Section 10.4(b provided Section 2.16 Section 2.18
  39




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##### 



Section 2.23. Reallocation and Cash Collateralization of Defaulting Lender or Potential
Defaulting Lender Commitment .
  pro rata provided
 unreallocated
portion
   40




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##### 



pro rata provided provided
 ARTICLE III
 CONDITIONS PRECEDENT TO LOANS
 Section 3.1. Conditions To Effectiveness Section 10.2
        41




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##### 



Exhibit 3.1(c)(v)
   Exhibit 3.1(c)(viii) Section 4.4
    Section
5.1(c) Article VI
   42




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##### 



Section 3.1 Section 3.1
 Section 3.2. Each Credit Event.
     43




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##### 



Section 2.23(a)(1)
 Section 2.23(a)(2)
 provided
 Section 3.2
  44




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##### 



Section 3.3. Delivery of Documents
 ARTICLE IV
 REPRESENTATIONS AND WARRANTIES
  Section 4.1. Existence; Power
 Section 4.2. Organizational Power; Authorization
 Section 4.3. Governmental Approvals; No Conflicts
 Section 4.4. Financial Statements
  45




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##### 



Section 4.5. Litigation and Environmental Matters
  Schedule 4.5
 Section 4.6. Compliance with Laws and Agreements
 Section 4.7. Investment Company Act, Etc.
 Section 4.8. Taxes
 Section 4.9. Margin Regulations
  46




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##### 



Section 4.10. Investment Objectives
 Section 4.11. ERISA
 Section 4.12. Ownership of Property
 Section 4.4
   Section 4.13. Disclosure
  47




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##### 



Section 4.14. Labor Relations
 Section 4.15. Subsidiaries Schedule 4.15
 Section 4.16. Solvency
 Section 4.17. OFAC
 Section 4.18. Patriot Act
 ARTICLE V
 AFFIRMATIVE COVENANTS
  Section 5.1. Financial Statements and Other Information
  48




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##### 



provided
 provided
    49




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##### 



Section 5.2. Notices of Material Events
      50




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##### 



Section 5.2
 Section 5.3. Existence; Conduct of Business provided Section
5.3 Section 7.3
 Section 5.4. Compliance with Laws, Etc.
 Section 5.5. Payment of Obligations.
 Section 5.6. Books and Records
 Section 5.7. Visitation, Inspection, Etc. provided, however, provided, however
  51




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##### 



Section 5.8. Maintenance of Properties; Insurance
 Section 5.9. Use of Proceeds
 Section 5.10. Additional Subsidiaries; Additional Collateral Section 3.1
 Section 5.11. Portfolio Valuation and Diversifications, Etc.
 Portfolio Valuation Etc.
 Settlement Date Basis provided
 Determination of Values
 Quoted InvestmentsExternal Review
  52




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##### 



Unquoted InvestmentsExternal Review provided
   Internal Review Section
5.11(a)(ii)(C) Section 5.11(a)(ii)(A) and (B) provided
  53




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##### 



Failure to Determine Values Section 5.11(a)
 Administrative Agent Approval of Valuations Section 5.1(g)
 Section 5.12. Calculation of Borrowing Base Borrowing Base provided
         54




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##### 



Sections 3.1(c)(xvii) 5.1(e) 5.1(f) 7.4(c) 7.4(e)
 Section 5.13. Compliance with Investment Objectives
 ARTICLE VI
 FINANCIAL COVENANTS
  Section 6.1. Minimum Asset Coverage Ratio Required Threshold provided however Closed End Company Required Threshold
 Section 6.2. Minimum Liquidity
 Section 6.3. Minimum Consolidated Shareholders Equity
  55




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##### 



plus
 ARTICLE VII
 NEGATIVE COVENANTS
  Section 7.1. Indebtedness and Preferred Equity
  Schedule 7.1
   Section 7.9
     Section 7.2. Negative Pledge
  56




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##### 



provided however Section 2.19
  Schedule 7.2 provided
  Section 7.3. Fundamental Changes .
 provided , provided
  Section 7.4. Restricted Payments
     57




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##### 



Section
5.1(e) provided
   minus
 Section 5.1(e) provided
  58




---



##### 



Section 7.5. Sale of Assets Section 5.1
 Section 7.6. Transactions with Affiliates Section 7.4
 Section 7.7. Restrictive Agreements provided
  59




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##### 



Lock-up Agreement
 Section 7.8. Sale and Leaseback Transactions
 Section 7.9. Hedging Transactions .
 Section 7.10. Accounting Changes
 Section 7.11. Amendment to Material Documents
 Section 7.12. Loans, Etc plus minus
  60




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##### 



Section 7.12
 Section 7.13. Deposit Accounts; Other Accounts
 Section 7.14. Government Regulation
 ARTICLE VIII
 EVENTS OF DEFAULT
 Section 8.1. Events of Default . Event of
Default
  Section 8.1
   61




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Sections 5.1, 5.2 5.3 Articles VI VII
  Section 5.1(f)
  Section 8.1
   62




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##### 



Section 8.1 :
  63




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##### 



ARTICLE IX
 THE ADMINISTRATIVE AGENT
 Section 9.1. Appointment of Administrative Agent
 Section 9.2. Nature of Duties of Administrative Agent Section 10.2 Section 10.2
 Section 9.3. Lack of Reliance on the Administrative Agent
  64




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##### 



Section 9.4. Certain Rights of the Administrative Agent
 Section 9.5. Reliance by Administrative Agent
 Section 9.6. The Administrative Agent in its Individual Capacity
 Section 9.7. Successor Administrative Agent
   65




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##### 



Section 9.7 th
 Section 2.23(a)
 Section 9.8. Withholding Tax
 Section 9.9. Administrative Agent May File Proofs of Claim.
    66




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##### 



Section
10.3
  Section 10.3
  Section 9.10. Authorization to Execute other Loan Documents
 Section 9.11. Syndication Agent and Documentation Agent
 Section 9.12. Approved Third Party Appraiser Release . Exhibit 9.10
 ARTICLE X
 MISCELLANEOUS
 Section 10.1. Notices .
 Written Notices
  To the Borrower:
    
    Kayne Anderson Energy Development Company717 Texas Avenue, Suite 3100
  67




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##### 



Houston, Texas 77002Attention: Terry HartTelecopy Number: (713) 655-7359With a copy to:
    
    Paul, Hastings, Janofsky & Walker LLP55 Second StreetSan Francisco, California 94105Attention: David HearthTelecopy Number: (415) 856-7100To the Administrative Agent 
or Swingline Lender:
    
    SunTrust Bank303 Peachtree Street, N. E.Atlanta, Georgia 30308Attention:Telecopy Number:With a copy to:
    
    SunTrust BankAgency Services303 Peachtree Street, N. E./ 25th FloorAtlanta, Georgia 30308Attention: Mr. Doug WeltzTelecopy Number: (404) 221-2001andKing & Spalding LLP1180 Peachtree Street, N.W.Atlanta, Georgia 30309Attention: Todd HollemanTelecopy Number: (404) 572-5100To any other Lender:
    
    the address set forth in the Administrative
Questionnaire or the Assignment and Acceptance Agreement executed by such
Lender
 Section 10.1
   68




---



##### 



Electronic Communications
 provided Article II provided
 provided
  Section 10.2. Waiver; Amendments .
 , Section 10.2
  69




---



##### 



provided Section 2.19 Section 10.2 provided further Sections 2.16 2.17 2.18 10.3 provided that
  70




---



##### 



Section 10.3. Expenses; Indemnification .
 , Section
10.3
 Indemnitee provided
    71




---



##### 



provided
  Section 10.3
 Section 10.4. Successors and Assigns .
  provided
 Minimum Amounts
    72




---



##### 



Proportionate Amounts pro rata
 Required Consents
 provided that
   Assignment and Acceptance , Section 2.18
 No Assignment to Borrower
 No Assignment to Natural Persons
 Approved Third Party Appraiser Release Exhibit 9.10
 Section 10.4 Sections 2.16 2.17 2.18 10.3
  73




---



##### 



Section 10.4
 Register Section
 Participant provided
 provided Section 2.19(b) (c) Section 10.4
  74




---



##### 



Section 10.4 2.16 2.17 2.18 Section 10.4 Section 10.7 Section 2.19
 Section
2.16 Section 2.18 Section 2.18 Section 2.18(e)
 provided
 Section 10.5. Governing Law; Jurisdiction; Consent to Service of Process .
   Section 10.5 Section 10.5
 Section 10.1
  75




---



##### 



Section 10.6. WAIVER OF JURY TRIAL SECTION 10.6
 Section 10.7. Right of Setoff provided
 Section 10.8. Counterparts; Integration
 Section 10.9. Survival Sections 2.16 2.17 2.18 10.3
  76




---



##### 



Section 10.10. Severability
 Section 10.11. Confidentiality Section
10.11 Section 10.11 Section 10.11
 Section 10.12. Interest Rate Limitation Charges Maximum Rate Section 10.12
 Section 10.13. Waiver of Effect of Corporate Seal.
 Section 10.14. Patriot Act . Patriot Act
  77




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##### 



Section 10.15. NO ORAL AGREEMENTS, WAIVER
 Section 10.16. Location of Closing . Section 3.1
 Section 10.17. Existing Credit Agreement Section 3.1
 Section 10.18. Amendment and Restatement Schedule II
 (remainder of page left intentionally blank)
  78




---



##### 



IN WITNESS WHEREOF
 KAYNE ANDERSON ENERGY
DEVELOPMENT COMPANYBy:
    /s/ Terry HartName:
    Terry HartTitle:
    Chief Financial Officer SIGNATURE PAGE TO AMENDED AND RESTATED SENIOR SECURED
REVOLVING CREDIT AGREEMENT]




---



##### 



SUNTRUST BANK, as Administrative Agent, and 
as a LenderBy:
    /s/ David SimpsonName:
    David SimpsonTitle:
    Vice President SIGNATURE PAGE TO AMENDED AND RESTATED SENIOR SECURED
REVOLVING CREDIT AGREEMENT]




---



##### 



CITIBANK, NA, as a LenderBy:
    /s/ John F. MillerName:
    John F. MillerTitle:
    Attorney-in- Fact SIGNATURE PAGE TO AMENDED AND RESTATED SENIOR SECURED
REVOLVING CREDIT AGREEMENT]




---



##### 



UBS LOAN FINANCE LLC, as a LenderBy:
    /s/ Irja R. OtsaName:
    Irja R. OtsaTitle:
    Associate Director Banking Products Services, USBy:
    /s/ Michael CernigliaName:
    Michael CernigliaTitle:
    Director Banking Products Services, US SIGNATURE PAGE TO AMENDED AND RESTATED SENIOR SECURED
REVOLVING CREDIT AGREEMENT]




---



##### 



JPMORGAN CHASE BANK, N.A., as a LenderBy:
    /s/ Jeanne HornName:
    Jeanne HornTitle:
    Executive Director SIGNATURE PAGE TO AMENDED AND RESTATED SENIOR SECURED
REVOLVING CREDIT AGREEMENT]




---



##### 



STIFEL BANK & TRUST, as a LenderBy:
    /s/ John H. PhillipsName:
    John H. PhillipsTitle:
    Senior Vice President SIGNATURE PAGE TO AMENDED AND RESTATED SENIOR SECURED
REVOLVING CREDIT AGREEMENT]




---



##### 



Schedule I
COMMITMENT AMOUNTS
 SunTrust Bank
    
    $
    20,000,000Citibank, NA
    
    $
    20,000,000UBS Loan Finance LLC
    
    $
    18,000,000JPMorgan Chase Bank, N.A.
    
    $
    7,000,000Stifel Bank & Trust
    
    $
    5,000,000




---



##### 



SCHEDULE II
 Approved Dealers and Appraisers




---



##### 



SCHEDULE III
 Approved Brokerage Accounts




---



##### 



SCHEDULE 4.5
 ENVIRONMENTAL MATTERS




---



##### 



SCHEDULE 4.10
 INVESTMENT OBJECTIVE




---



##### 



SCHEDULE 4.15
 SUBSIDIARIES




---



##### 



SCHEDULE 7.1
 OUTSTANDING INDEBTEDNESS




---



##### 



SCHEDULE 7.2
 EXISTING LIENS




---



##### 



EXHIBIT A
 FORM OF ASSIGNMENT AND ACCEPTANCE
 [date to be supplied]
 Credit Agreement
 [ name of assignor] Assignor [ name of assignee] Assignee Assigned Interest
     A-1




---



##### 



Effective Date
  A-2




---



##### 



Percentage Assigned ofRevolving Commitment (setforth, to at least 8 decimals, as apercentage of the aggregatePrincipal Amount
    
    
    Revolving Commitments of allFacility
    
    Assigned
    
    
    Lenders thereunder)Revolving Loans:
    
    $
    
    
    
    
    %
  [Name of Assignor], as AssignorBy:Name:Title:[Name of Assignee], as AssigneeBy:Name:Title:
  A-3




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##### 



1
 KAYNE ANDERSON ENERGY
    
    
    
    SunTrust Bank, as Administrative Agent:DEVELOPMENT COMPANYBy:
    
    
    
    
    
    By:Name:
    
    
    
    
    
    Name:Title:
    
    
    
    
    
    Title:
 
 1
    
    Consents to be included to the extent required by
Section 10.4(b) of the Credit Agreement. [SIGNATURE PAGE TO ASSIGNMENT AND ACCEPTANCE]




---



##### 



EXHIBIT B  SUBSIDIARY GUARANTY AGREEMENT
 THIS SUBSIDIARY GUARANTY AGREEMENT Agreement Schedule I Guarantor Guarantors Administrative Agent Lenders Borrower Credit
Agreement
 W I T N E S S E T H:
 WHEREAS
 WHEREAS
 WHEREAS
 NOW, THEREFORE
 Section 1. Guarantee Specified Hedge Provider
  B-1




---



##### 



Secured Parties Secured Party Guaranteed Obligations
 Section 2. Obligations Not Waived Hedging
Document
 Section 3. Guarantee of Payment
 Section 4. No Discharge or Diminishment of Guarantee
  B-2




---



##### 



Section 5. Defenses of Borrower Waived
 Section 6. Agreement to Pay; Subordination
 Section 7. Information
 Section 8. Indemnity and Subrogation Section 6
  B-3




---



##### 



Section 9. Contribution and Subrogation Contributing
Guarantor Section 6 Claiming Guarantor Section 8 Section 21 Section 9 Section
8
 Section 10. Subordination Section 8 Section 9
 Section 11. Representations and Warranties
 Section 12. Termination
 Section 13. Binding Effect; Several Agreement; Assignments
  B-4




---



##### 



Section 14. Waivers; Amendment
   Section 15. Notices Schedule I
 Section 16. Severability
 Section 17. Counterparts; Integration Section 13 Section 13
  B-5




---



##### 



Section 18. Rules of Interpretation
 Section 19. Governing Law; Jurisdiction; Consent to Service of Process
 [State]
    Section 20. Waiver of Jury Trial
  B-6




---



##### 



Section 21. Additional Guarantors Annex 1
 Section 22. Right of Setoff Section 22
 Section 23. Savings Clause
  et seq. Bankruptcy
Code
   B-7




---



##### 



Avoidance Provisions Section 23(a)(i) (ii) (iii)
 Section 23 Section 23
 Signatures Follow
  B-8




---



##### 



IN WITNESS WHEREOF
 ByName:Title:
 [SIGNATURE PAGE TO AMENDED AND RESTATED SUBSIDIARY GUARANTY
AGREEMENT]




---



##### 



SUNTRUST BANK, asAdministrative AgentByName:Title:
 [SIGNATURE PAGE TO AMENDED AND RESTATED SUBSIDIARY GUARANTY
AGREEMENT]




---



##### 



SCHEDULE I TO THE
SUBSIDIARY GUARANTY AGREEMENT
 Guarantor(s)
    
    
    Address
  B-12




---



##### 



ANNEX 1
 SUPPLEMENT NO. Guaranty Agreement Schedule I Guarantor Guarantors Administrative Agent
 Credit Agreement Borrower Lenders
  New Guarantor
  Joinder
 Representations and Warranties.
 Binding Effect.
  B-13




---



##### 



Governing Law.
 Execution in Counterparts.
 Notices to New Guarantor. .
 Signatures Follow
  B-14




---



##### 



IN WITNESS WHEREOF
 [NAME OF NEW GUARANTOR]ByName:Title:Address:SUNTRUST BANK, asAdministrative AgentByName:Title:




---



##### 



EXHIBIT 2.3  FORM OF NOTICE OF REVOLVING BORROWING
  
  Credit Agreement
 (A)
    
    Aggregate principal amount of Revolving Borrowing1:(B)
    
    Date of Revolving Borrowing (which is a Business Day)2:(C)
    
    Interest Rate basis3:(D)
    
    Interest Period4:(E)
    
    Location and number of Borrowers account to which proceeds of Revolving
Borrowing are to be disbursed:
 
 1
    
    Not less than $1,000,000 and an integral multiple of
$250,000 for Eurodollar borrowing and not less than $250,000 and an integer
multiple of $100,000 for Base Rate Borrowing.2
    
    With respect to Base Rate Borrowings, notice must be
given prior to 11:00 a.m. (New York time) on the day of borrowing, and with
respect to Eurodollar Borrowings, notice must be given prior to 2:00 p.m. (New
York time) no later than three (3) business days prior to the date of
borrowing.3
    
    Eurodollar Borrowing or Base Rate Borrowing.4
    
    Which must comply with the definition of Interest
Period and end not later than the Revolving Commitment Termination Date.




---



##### 



Very truly yours,KAYNE ANDERSON ENERGY DEVELOPMENT COMPANYBy:Name:Title: [SIGNATURE PAGE TO NOTICE OF REVOLVING BORROWING]




---



##### 



EXHIBIT 2.4
 FORM OF NOTICE OF SWINGLINE BORROWING
  
  Credit
Agreement
 (A)
    
    Principal amount of Swingline Loan1:
 (B)
    
    Date of Swingline Loan (which is a Business Day)2(C)
    
    Location and number of Borrowers account to which proceeds of Swingline Loan
are to be disbursed:
 
 1
    
    Not less than $100,000 and an integral multiple of
$50,000.2
    
    Notice must be given prior to 10:00 a.m. (New York
time) on the day of borrowing




---



##### 



Very truly yours,KAYNE ANDERSON ENERGY DEVELOPMENT COMPANYBy:Name:Title:
 [SIGNATURE PAGE TO NOTICE OF SWINGLINE BORROWING]




---



##### 



EXHIBIT 2.6(b)  FORM OF CONTINUATION/CONVERSION
  
  Credit Agreement
 (A)
    
    Revolving Borrowing to which this request applies:(B)
    
    Principal amount of Revolving Borrowing to be converted/continued:(C)
    
    Effective date of election (which is a Business Day):(D)
    
    Interest rate basis:(E)
    
    Interest Period:




---



##### 



Very truly yours,KAYNE ANDERSON ENERGY DEVELOPMENT COMPANYBy:Name:Title:
 [SIGNATURE PAGE TO CONTINUATION/CONVERSION]




---



##### 



EXHIBIT 3.1(c)(v)  FORM OF SECRETARYS CERTIFICATE OF KAYNE ANDERSON ENERGY DEVELOPMENT COMPANY
 Credit Agreement Borrower
 []
   [ Date ] 1
 [ date ]
 
 1
    
    This date should be prior to the date of the
resolutions referred to in clause (d).




---



##### 



[ _____ ]
 Name
    
    Title
    
    Specimen Signature
  NameSecretary
 [ Assistant ] [ his/her ] [ he/she ] [ _____ ] 1
 Name:Title:
 
 1
    
    This certification should be included as part of the
Secretarys certificate and signed by one of the officers whose incumbency is
certified pursuant to clause (e) above.




---



##### 



EXHIBIT A
 [Bylaws]




---



##### 



EXHIBIT B
 [ Resolutions ]




---



##### 



EXHIBIT 3.1(c)(viii)  FORM OF RESPONSIBLE OFFICERS CERTIFICATE
 Credit Agreement Borrower
 [_____]
   [ the date ]




---



##### 



Name:Title:




---



##### 



EXHIBIT 5.1(c)  FORM OF COMPLIANCE CERTIFICATE
  To:
    
    SunTrust Bank, as Administrative Agent
303 Peachtree St., N.E.
Atlanta, GA 30308
Attention: _____________
  Credit
Agreement Borrower
 [chief executive officer][chief financial officer]
 [ quarter ][ year ] [ quarter ][ year ] [ quarter ][ year ]
 Attachment 1




---



##### 



Name:Title:




---



##### 



Attachment to Compliance Certificate




---



##### 



EXHIBIT 5.1(e)
 FORM OF BORROWING BASE CERTIFICATE
 KAYNE ANDERSON ENERGY DEVELOPMENT COMPANY
 Date: [______________]
 Borrower Credit Agreement
     [Signature page to follow]




---



##### 



IN WITNESS WHEREOF
 KAYNE ANDERSON ENERGY
DEVELOPMENT COMPANYBy:Name:Title: [SIGNATURE PAGE TO BORROWING BASE CERTIFICATE]




---



##### 



BORROWING BASE CALCULATION
KAYNE ANDERSON ENERGY DEVELOPMENT COMPANY




---



##### 



EXHIBIT 7.4
 FORM OF DISTRIBUTABLE CASH FLOW CERTIFICATE
 KAYNE ANDERSON ENERGY DEVELOPMENT COMPANY
 Date: [______________]
 Borrower Credit
Agreement
     [Signature page to follow]




---



##### 



IN WITNESS WHEREOF
 KAYNE ANDERSON ENERGY
DEVELOPMENT COMPANYBy:Name:Title: