Document:

EX-10.1

 Exhibit 10.1 

Execution Version 

THIRD SUPPLEMENTAL INDENTURE 

This Third Supplemental Indenture (this “Supplemental Indenture”), dated as of April 1, 2021, is by and between
Energy Transfer LP, a Delaware limited partnership, as successor entity under the Indenture referred to below (in such capacity, the “Successor Entity”), and U.S. Bank National Association, as trustee (the
“Trustee”). 
 WITNESSETH 

WHEREAS, Energy Transfer, LP, a Delaware limited partnership (“ETLP”) (formerly, Energy Transfer Partners, L.P.) and
the Trustee have heretofore executed and delivered an indenture, dated as of June 24, 2013 (the “Base Indenture”); 

WHEREAS, ETLP assigned all or substantially all of its properties and assets to Energy Transfer Operating, L.P., a Delaware limited
partnership (“ETO”) pursuant to that certain Assignment Agreement dated as of December 1, 2017 and ETO assumed all of the obligations of ETLP under the Indenture pursuant to the Seventeenth Supplemental Indenture; 

WHEREAS, the Floating Rate Junior Subordinated Notes due 2066 (the “Notes”) have been issued pursuant to the Base
Indenture (as so supplemented by that certain First Supplemental Indenture dated June 24, 2013 and that certain Second Supplemental Indenture dated December 1, 2017 and hereto and as further amended, supplemented or otherwise modified to
date solely with respect to each series of Notes, the “Indentures” and, each, an “Indenture”); 

WHEREAS, the Notes are the only series of securities outstanding under each of the Indentures; 

WHEREAS, ETO merged (the “Merger”) with and into the Successor Entity pursuant to that certain Agreement and Plan of
Merger dated April 1, 2021 by and between ETO and the Successor Entity; 
 WHEREAS, Section 501 of each of the Indentures provides
that ETO may, among other things, merge with or into another Person if, among other things, the Person surviving the Merger expressly assumes ETO’s obligations under the Notes and the Indenture; 

WHEREAS, Section 901(2) of each of the Indentures provides that, without the consent of any Holders, the applicable Indenture may be
amended to comply with Section 501; 
 WHEREAS, the Successor Entity desires and has requested the Trustee to join in entering into
this Supplemental Indenture for the purpose of evidencing the assumption by the Successor Entity of ETO’s obligations to the Holders of each series of Notes under each applicable Indenture; 

WHEREAS, the Successor Entity has delivered to the Trustee an Officers’ Certificate and an Opinion of Counsel, each stating that
(i) the Merger complies with all conditions precedent provided in each applicable Indenture, including the provisions of Article Five in such Indenture, (ii) all conditions precedent provided in the applicable Indenture relating to the
execution and delivery of this Supplemental Indenture have been complied with and (iii) the Merger and Supplemental Indenture comply with the Indenture, are authorized or permitted by the terms of the Indenture, and are valid and binding upon
the Successor Entity pursuant to the respective terms thereof; 

  
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 WHEREAS, the Successor Entity has been authorized by Board Resolutions or equivalent
partnership or corporate action to enter into this Supplemental Indenture; 
 WHEREAS, pursuant to Section 901 of each applicable
Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture; and 
 WHEREAS, all conditions necessary to
authorize the execution and delivery of this Supplemental Indenture by the Successor Entity to make this Supplemental Indenture valid and binding on the Successor Entity have been complied with or have been done or performed. 

NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Successor Entity and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of each series of Notes as follows: 

ARTICLE ONE 
 Section 1.01.
CAPITALIZED TERMS. Terms used herein and not defined herein shall have the meanings assigned to them in the applicable Indenture. 
 ARTICLE
TWO 
 Section 2.01. EFFECTIVENESS OF SUPPLEMENTAL INDENTURE. This Supplemental Indenture shall become effective as of the date hereof
upon its execution by the Successor Entity and the Trustee. 
 Section 2.02. ASSUMPTION OF OBLIGATIONS. The Successor Entity hereby
expressly assumes the obligations of ETO under each applicable Indenture and each series of Notes. 
 Section 2.03. NOTICES. All
notices or other communications to the Successor Entity shall be given as provided in the Indentures addressed as follows: 
 Energy Transfer
LP 
 8111 Westchester Drive, Suite 600 

Dallas, Texas 75225 
 Attn: Ashton
Hayse 
 ARTICLE THREE 

Section 3.01. RATIFICATION OF THE INDENTURES; SUPPLEMENTAL INDENTURE. Each of the Indentures is in all respects ratified and confirmed
and all the terms, conditions and provisions thereof shall remain in full force and effect. Upon the execution and delivery of this Supplemental Indenture by the Successor Entity and the Trustee, this Supplemental Indenture shall form a part of each
applicable Indenture for all purposes, and the Successor Entity, 

  
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the Trustee and every Holder of each series of Notes heretofore or hereafter authenticated and delivered shall be bound hereby. Any and all references to the applicable Indenture, whether within
the indenture or in any notice, certificate or other instrument or document, shall be deemed to include a reference to this Supplemental Indenture (whether or not made), unless the context shall require otherwise. 

Section 3.02. GOVERNING LAW. THIS SUPPLEMENTAL INDENTURE WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK. 
 Section 3.03. THE TRUSTEE. The Trustee shall not be responsible in any manner for or in respect of the validity or
sufficiency of this Supplemental Indenture or for or in respect of the recitals or statements contained herein, all of which are made by the Successor Entity and the Trustee assumes no responsibility for their correctness. 

Section 3.04. SUCCESSORS. All covenants and agreements of the Trustee in this Supplemental Indenture shall bind its successors and
assigns. All covenants and agreements of the Successor Entity in this Supplemental Indenture shall bind its successors and assigns. 

Section 3.05. COUNTERPARTS. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an
original, but all of them together represent the same agreement. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or electronic format (i.e. “pdf” or “tif”) transmission shall constitute
effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or electronic format
(i.e. “pdf” or “tif”) shall be deemed to be their original signatures for all purposes. 
 Section 3.06.
EFFECT OF HEADINGS. The Section headings herein are for convenience only and shall not affect the construction hereof. 
 Section 3.07.
SEVERABILITY. If any provision in this Supplemental Indenture shall be invalid, illegal or unenforceable, the validity, legality or enforceability of the remaining provisions of this Supplemental Indenture or the applicable Indenture shall not in
any way be affected or impaired thereby. This Supplemental Indenture is subject to the provisions of the Trust Indenture Act that are required to be part of the applicable Indenture and shall, to the extent applicable, be governed by such
provisions. If any provision of this Supplemental Indenture limits, qualifies or conflicts with another provision hereof which is required to be included herein by any provisions of the Trust Indenture Act, such required provision shall control.

 [Signature Pages Follow] 

  
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 IN WITNESS WHEREOF, each of the undersigned has caused this Supplemental Indenture to be
duly executed as of the date first above written. 
  

			
	SUCCESSOR ENTITY:
	
	ENERGY TRANSFER LP
	
	By: LE GP, LLC, its general partner
		
	By:	 	/s/ Thomas E. Long
	Name:	 	Thomas E. Long
	Title:	 	Co-Chief Executive Officer

  

			
	TRUSTEE:
	
	U.S. BANK NATIONAL ASSOCIATION, as Trustee
		
	By:	 	/s/ Alejandro Hoyos
	Name:	 	Alejandro Hoyos
	Title:	 	Vice President

 Third Supplemental Indenture to 

U.S. Bank IndentureEX-10.2

 Exhibit 10.2 

Execution Version 

FOURTH SUPPLEMENTAL INDENTURE 

This Fourth Supplemental Indenture (this “Supplemental Indenture”), dated as of April 1, 2021, is by and between
Energy Transfer LP, a Delaware limited partnership, as successor entity under the Indenture referred to below (in such capacity, the “Successor Entity”), and U.S. Bank National Association, as trustee (the
“Trustee”). 
 WITNESSETH 

WHEREAS, ETC Sunoco Holdings LLC (formerly Sunoco, Inc.), a Pennsylvania limited liability company (the “Sunoco”) and
the Trustee have heretofore executed and delivered an indenture, dated as of May 15, 1994 (the “Base Indenture”); 

WHEREAS, Energy Transfer Operating, L.P., a Delaware limited partnership (“ETO”) (formerly, Energy Transfer Partners,
L.P. (“ETLP”)) became a co-obligor under the Indenture; 
 WHEREAS, ETLP
assigned all or substantially all of its properties and assets to ETO pursuant to that certain Assignment Agreement dated as of December 1, 2017 by and between ETLP and ETO, and ETO assumed all of the Obligations under the Base Indenture; 

WHEREAS, the following series of Debt Securities have been issued pursuant to the Base Indenture and are outstanding as of the date of this
Supplemental Indenture: the 9.000% Senior Notes due 2024 (the “Notes”) issued under the Base Indenture, as supplemented by the First Supplemental Indenture thereto dated as of October 5, 2012, (the Base Indenture, as so
supplemented by the First Supplemental Indenture and as further amended, supplemented or otherwise modified to date solely with respect to the Notes the “Indenture”); 

WHEREAS, the Notes are the only series of securities outstanding under the Indenture; 

WHEREAS, December 12, 2017, Sunoco Logistics Partners Operations L.P., a Delaware limited partnership (“SXL”),
fully and unconditionally guaranteed the payment obligations of ETO pursuant to that certain Third Supplemental Indenture; 
 WHEREAS, SXL
merged into ETO and ETO merged (the “Merger”) with and into the Successor Entity pursuant to that certain Agreement and Plan of Merger dated April 1, 2021 by and between ETO and the Successor Entity; 

WHEREAS, Section 10.01 of the Indenture provides that ETO may, among other things, merge with or into another Person if, among other
things, the Person into which ETO has been merged expressly assumes ETO’s obligations under the Notes and the Indenture; 
 WHEREAS,
Section 11.01(1) of the Indenture provides that, without the consent of any Holders, the Indenture may be amended to comply with Section 10.01; 

WHEREAS, the Successor Entity desires and has requested the Trustee to join in entering into this Supplemental Indenture for the purpose of
evidencing the assumption by the Successor Entity of ETO’s obligations to the Holders of the Notes under the Indenture; 

  
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 WHEREAS, the Successor Entity has delivered to the Trustee an Officers’ Certificate and
an Opinion of Counsel, each stating that (i) the Merger complies with all conditions precedent provided in the Indenture, including the provisions of Article 10 in the Indenture, (ii) all conditions precedent provided in the Indenture
relating to the execution and delivery of this Supplemental Indenture have been complied with and (iii) the Merger and the Supplemental Indenture comply with the Indenture, are authorized or permitted by the terms of the Indenture, and are
valid and binding upon the Successor Entity pursuant to the respective terms thereof; 
 WHEREAS, the Successor Entity has been authorized
by Board Resolutions or equivalent partnership or corporate action to enter into this Supplemental Indenture; 
 WHEREAS, pursuant to
Section 11.01 of the Indenture, the Trustee is authorized to execute and deliver this Supplemental Indenture; and 
 WHEREAS, all
conditions necessary to authorize the execution and delivery of this Supplemental Indenture by the Successor Entity to make this Supplemental Indenture valid and binding on the Successor Entity have been complied with or have been done or performed.

 NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt and sufficiency of which are
hereby acknowledged, the Successor Entity and the Trustee mutually covenant and agree for the equal and ratable benefit of the Holders of the Notes as follows: 

ARTICLE ONE 
 Section 1.01.
CAPITALIZED TERMS. Terms used herein and not defined herein shall have the meanings assigned to them in the applicable Indenture. 
 ARTICLE
TWO 
 Section 2.01. EFFECTIVENESS OF SUPPLEMENTAL INDENTURE. This Supplemental Indenture shall become effective as of the date hereof
upon its execution by the Successor Entity and the Trustee. 
 Section 2.02. ASSUMPTION OF OBLIGATIONS. The Successor Entity hereby
expressly assumes the obligations of ETO under the Indenture and the Notes. 
 Section 2.04. NOTICES. All notices or other
communications to the Successor Entity shall be given as provided in the Indenture addressed as follows: 
 Energy Transfer LP 

8111 Westchester Drive, Suite 600 

Dallas, Texas 75225 
 Attn: Ashton
Hayse 

  
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 ARTICLE THREE 

Section 3.01. RATIFICATION OF THE INDENTURE; SUPPLEMENTAL INDENTURE. The Indenture is in all respects ratified and confirmed and all the
terms, conditions and provisions thereof shall remain in full force and effect. Upon the execution and delivery of this Supplemental Indenture by the Successor Entity and the Trustee, this Supplemental Indenture shall form a part of the Indenture
for all purposes, and the Successor Entity, the Trustee and every Holder of Notes heretofore or hereafter authenticated and delivered shall be bound hereby. Any and all references to the Indenture, whether within the indenture or in any notice,
certificate or other instrument or document, shall be deemed to include a reference to this Supplemental Indenture (whether or not made), unless the context shall require otherwise. 

Section 3.02. GOVERNING LAW. THIS SUPPLEMENTAL INDENTURE WILL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF
NEW YORK. 
 Section 3.03. THE TRUSTEE. The Trustee shall not be responsible in any manner for or in respect of the validity or
sufficiency of this Supplemental Indenture or for or in respect of the recitals or statements contained herein, all of which are made by the Successor Entity and the Trustee assumes no responsibility for their correctness. 

Section 3.04. SUCCESSORS. All covenants and agreements of the Trustee in this Supplemental Indenture shall bind its successors and
assigns. All covenants and agreements of the Successor Entity in this Supplemental Indenture shall bind its successors and assigns. 

Section 3.05. COUNTERPARTS. The parties may sign any number of copies of this Supplemental Indenture. Each signed copy shall be an
original, but all of them together represent the same agreement. The exchange of copies of this Supplemental Indenture and of signature pages by facsimile or electronic format (i.e. “pdf” or “tif”) transmission shall constitute
effective execution and delivery of this Supplemental Indenture as to the parties hereto and may be used in lieu of the original Supplemental Indenture for all purposes. Signatures of the parties hereto transmitted by facsimile or electronic format
(i.e. “pdf” or “tif”) shall be deemed to be their original signatures for all purposes. 
 Section 3.06.
EFFECT OF HEADINGS. The Section headings herein are for convenience only and shall not affect the construction hereof. 
 Section 3.07.
SEVERABILITY. If any provision in this Supplemental Indenture shall be invalid, illegal or unenforceable, the validity, legality or enforceability of the remaining provisions of this Supplemental Indenture or the Indenture shall not in any way be
affected or impaired thereby. This Supplemental Indenture is subject to the provisions of the Trust Indenture Act that are required to be part of the Indenture and shall, to the extent applicable, be governed by such provisions. If any provision of
this Supplemental Indenture limits, qualifies or conflicts with another provision hereof which is required to be included herein by any provisions of the Trust Indenture Act, such required provision shall control. 

[Signature Pages Follow] 

  
 3 

 IN WITNESS WHEREOF, each of the undersigned has caused this Supplemental Indenture to be
duly executed as of the date first above written. 
  

			
	SUCCESSOR ENTITY:
	
	ENERGY TRANSFER LP
		
	By:	 	LE GP, LLC, its general partner
		
	By:	 	 /s/ Thomas E. Long

	 Name:
	 	Thomas E. Long
	 Title:
	 	Co-Chief Executive Officer

  

			
	TRUSTEE:
	
	U.S. BANK NATIONAL ASSOCIATION, as Trustee

 
			
		
	By:	 	 /s/ Alejandro Hoyos

	 Name:
	 	Alejandro Hoyos
	 Title:
	 	Vice President

 Fourth Supplemental Indenture to 

U.S. Bank Indenture

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