Document:

EX-10.1

 Exhibit 10.1 

EXECUTION COPY 
 AMENDMENT
NO. 7 
 Dated as of December 20, 2013 

to 
 AMENDED AND RESTATED CREDIT
AGREEMENT 
 Dated as of November 24, 2009, as amended and restated as of February 2, 2011 

THIS AMENDMENT NO. 7 (this “Amendment”) is made as of December 20, 2013 by and among Crestwood Equity Partners LP
(formerly known as Inergy, L.P.), a Delaware limited partnership (the “Borrower”), the Subsidiaries of the Borrower listed on the signature pages hereof (the “Subsidiary Guarantors” and, together with the Borrower,
the “Credit Parties”), the financial institutions listed on the signature pages hereof (collectively, the “Lenders”), and JPMorgan Chase Bank, N.A., as Administrative Agent (the “Administrative
Agent”), under that certain Amended and Restated Credit Agreement dated as of November 24, 2009, as amended and restated as of February 2, 2011, by and among the Borrower, the lenders party thereto and the Administrative Agent (as
amended, restated, supplemented or otherwise modified prior to the date hereof, the “Credit Agreement”). Capitalized terms used herein and not otherwise defined herein shall have the respective meanings given to them in the Credit
Agreement. 
 WHEREAS, reference is made to (i) the Amended and Restated Pledge and Security Agreement dated as of February 2,
2011 (as amended, restated, supplemented or otherwise modified prior to the date hereof, the “Pledge and Security Agreement”) among the Credit Parties, the other Subsidiaries of the Borrower from time to time party thereto and the
Administrative Agent and (ii) the Amended and Restated Guaranty dated as of February 2, 2011 (as amended, restated, supplemented or otherwise modified prior to the date hereof, the “Subsidiary Guaranty”) among the
Subsidiary Guarantors, the other Subsidiaries of the Borrower from time to time party thereto and the Administrative Agent; 
 WHEREAS, the
Credit Parties have requested that the Lenders and the Administrative Agent agree to make certain amendments to the Credit Agreement, the Pledge and Security Agreement and the Subsidiary Guaranty; and 

WHEREAS, the Lenders party hereto and the Administrative Agent have agreed to such amendments on the terms and conditions set forth herein;

 NOW, THEREFORE, in consideration of the premises set forth above, the terms and conditions contained herein, and other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto hereby agree to enter into this Amendment. 

1. Amendments to the Credit Agreement. Effective as of the Effective Date defined below, the Borrower, the Lenders and the
Administrative Agent agree that the Credit Agreement is hereby amended as follows: 
 (a) The Credit Agreement is amended to (i)(x) delete
each occurrence of the name “Inergy, L.P.” appearing in the recitals to the Credit Agreement and in the definition of “Borrower” set forth in Section 1.01 to the Credit Agreement and replace each such name with
“Crestwood Equity Partners LP (formerly known as Inergy, L.P.)” and (y) delete each other occurrence of the name “Inergy, 

 
L.P.” appearing in the Credit Agreement and replace each such name with “Crestwood Equity Partners LP” and (ii)(x) delete the defined term “Inergy Finance Corp.
(“Inergy Finance”)” appearing in clause (i) of the definition of “Senior Unsecured Notes” set forth in Section 1.01 of the Credit Agreement and replace such defined term with “CEQP Finance Corp.
(“CEQP Finance”)” and (y) delete each other occurrence of the name “Inergy Finance” appearing in the Credit Agreement and replace each such name with “CEQP Finance”. 

(b) The definition of “Debt” set forth in Section 1.01 of the Credit Agreement is amended to add the following as a new sentence
at the end thereof: 
 Notwithstanding the foregoing, solely for purposes of determining compliance with the financial
covenants set forth in Section 6.12 for any fiscal quarter in accordance with the terms of Section 7.02, any Specified Equity Amount received by the Borrower with respect to such fiscal quarter pursuant to Section 7.02 shall reduce
Debt as of such fiscal quarter by such amount. 
 (c) The definition of “Obligations” set forth in Section 1.01 of the Credit
Agreement is amended to add the proviso “; provided that the definition of “Obligations” shall not create or include any Guaranty by any Credit Party of (or grant of security interest by any Credit Party to support, as
applicable) any Excluded Swap Obligations of such Credit Party for purposes of determining any obligations of any Credit Party” at the end of the first sentence thereof. 

(d) Section 1.01 of the Credit Agreement is amended to add the following definitions thereto in the appropriate alphabetical order and,
where applicable, replace the corresponding previously existing definitions: 
 “Commodity Exchange Act”
means the Commodity Exchange Act (7 U.S.C. § 1 et seq.), as amended from time to time, and any successor statute. 

“Disqualified Equity Interests” means any Capital Stock or other equity interest that, by its terms (or by the
terms of any security or other Capital Stock or equity interests into which it is convertible or for which it is exchangeable), or upon the happening of any event or condition (a) matures or is mandatorily redeemable (other than solely for
Qualified Equity Interests), pursuant to a sinking fund obligation or otherwise (except as a result of a change of control or asset sale so long as any rights of the holders thereof upon the occurrence of a change of control or asset sale event
shall be subject to the prior repayment in full of the Loans and all other Obligations that are accrued and payable and the termination of the Commitments and all outstanding Letters of Credit), (b) is redeemable at the option of the holder
thereof (other than solely for Qualified Equity Interests), in whole or in part, (c) provides for the scheduled payments in cash of dividends, interest or other distributions (other than any scheduled cash dividend, interest or other
distribution payments made in compliance with the Specified Equity Payment Conditions), or (d) is or becomes convertible into or exchangeable for Debt or any other Capital Stock or equity interests that would constitute Disqualified Equity
Interests, in each case, prior to the date that is ninety-one (91) days after the Revolving Credit Maturity Date. 

“Distributable Cash Flow” means, with respect to the Borrower and its Consolidated Subsidiaries for any
period, an amount equal to: (i) net income for such period, plus (ii) amounts deducted in the computation thereof for depreciation and amortization, including the amortization of deferred financing costs, plus or minus, as
the case may be, (iii) gains or losses from the sale of assets in the ordinary course of business, plus or minus, as the case may be, (iv) extraordinary non-cash gains or losses for such period, and minus (v) Maintenance
Capital Expenditures for such period; provided, that for the purposes of determining Distributable Cash Flow for any 

  
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period during which a Permitted Acquisition is consummated, Distributable Cash Flow shall be adjusted in a manner reasonably satisfactory to the Administrative Agent to give effect to the
consummation of such Permitted Acquisition on a pro forma basis, as if such Permitted Acquisition occurred on the first day of such period; provided, further, that for the purposes of determining Distributable Cash Flow
for any period during which a Permitted Disposition (as such term is defined in the definition of “Consolidated EBITDA”) is consummated, Distributable Cash Flow shall be adjusted in a manner reasonably satisfactory to the Administrative
Agent to give effect to the consummation of such Permitted Disposition on a pro forma basis, as if such Permitted Disposition occurred on the first day of such period. Furthermore, in the event of a Permitted NRGM Dropdown during any
period, Distributable Cash Flow for such period may be adjusted on a pro forma basis reasonably satisfactory to the Administrative Agent to add the limited partnership cash distributions (if any) that would have been received during
such period on any units actually received by the Borrower or any Subsidiary as compensation for such Permitted NRGM Dropdown. For the avoidance of doubt, Distributable Cash Flow shall not include or give effect to the income (or loss) of NRGM and
its subsidiaries, except to the extent that any such income has been actually received by the Borrower or any Subsidiary in the form of NRGM Combined Cash Distributions and, for the avoidance of doubt, the foregoing additions to, and subtractions
from, Distributable Cash Flow described in this definition shall not give effect to any items (other than such income so actually received) attributable to NRGM and its subsidiaries. The following terms used herein have the definitions set forth
below: 
 “Maintenance Capital Expenditures” means, with respect to the Borrower and its Consolidated
Subsidiaries for any period, the aggregate of all Capital Expenditures made during such period for the maintenance and repair of existing assets or property in the ordinary course of business. 

“NRGM Combined Cash Distributions” means, for any period, cash dividends or similar cash distributions
received from NRGM as distributions on equity interests or incentive distributions; provided that, for each of the first three fiscal quarters ending on or after the Merger Date (regardless, in the case of the first such quarter, whether it
is a full fiscal quarter or a partial fiscal quarter), the Borrower may include, solely for purposes of calculating Distributable Cash Flow, the pro forma benefit of Anticipated NRGM Combined Cash Distributions (as such term is defined in the
definition of “Consolidated EBITDA”) for such period. 
 “Distribution Coverage Ratio” means, at
any time, the ratio of (i) Distributable Cash Flow to (ii) Total Pro Forma Cash Distributions, in each case for the four fiscal quarters then most recently ended. 

“ECP” means an “eligible contract participant” as defined in Section 1(a)(18) of the Commodity
Exchange Act or any regulations promulgated thereunder and the applicable rules issued by the Commodity Futures Trading Commission and/or the SEC. 

“Event of Default” has the meaning assigned to such term in Section 7.01. 

“Excluded Swap Obligation” means, with respect to any Credit Party, any Specified Swap Obligation if, and to
the extent that, all or a portion of the Guaranty of such Credit Party of, or the grant by such Credit Party of a security interest to secure, such Specified Swap Obligation (or any Guaranty thereof) is or becomes illegal under the Commodity
Exchange Act or any rule, regulation or order of the Commodity Futures Trading Commission (or the application or official interpretation of any thereof) by virtue of such Credit Party’s failure for any reason to constitute

  
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an ECP at the time the Guaranty of such Credit Party or the grant of such security interest becomes effective with respect to such Specified Swap Obligation. If a Specified Swap Obligation arises
under a master agreement governing more than one swap, such exclusion shall apply only to the portion of such Specified Swap Obligation that is attributable to swaps for which such Guaranty or security interest is or becomes illegal. 

“Impacted Interest Period” has the meaning assigned to such term in the definition of “LIBO Rate”.

 “Inergy GP” means Crestwood Equity GP LLC (formerly known as Inergy GP, LLC), a Delaware limited
liability company. 
 “Interpolated Rate” means, at any time, the rate per annum determined by the
Administrative Agent (which determination shall be conclusive and binding absent manifest error) to be equal to the rate that results from interpolating on a linear basis between: (a) the LIBOR Screen Rate for the longest period (for which the
LIBOR Screen Rate is available) that is shorter than the Impacted Interest Period and (b) the LIBOR Screen Rate for the shortest period (for which the LIBOR Screen Rate is available) that exceeds the Impacted Interest Period, in each case, at
such time. 
 “LIBO Rate” means, with respect to any Eurodollar Borrowing for any applicable Interest
Period, the London interbank offered rate administered by the British Bankers Association (or any other Person that takes over the administration of such rate) for Dollars for a period equal in length to such Interest Period as displayed on pages
LIBOR01 or LIBOR02 of the Reuters screen or, in the event such rate does not appear on either of such Reuters pages, on any successor or substitute page on such screen that displays such rate, or on the appropriate page of such other information
service that publishes such rate as shall be selected by the Administrative Agent from time to time in its reasonable discretion (in each case the “LIBOR Screen Rate”) at approximately 11:00 a.m., London time, two (2) Business
Days prior to the commencement of such Interest Period; provided that, if the LIBOR Screen Rate shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement; provided, further, that if a LIBOR
Screen Rate shall not be available at such time for such Interest Period (the “Impacted Interest Period”), then the LIBO Rate for such Interest Period shall be the Interpolated Rate; provided, that, if any Interpolated Rate
shall be less than zero, such rate shall be deemed to be zero for purposes of this Agreement. It is understood and agreed that all of the terms and conditions of this definition of “LIBO Rate” shall be subject to Section 2.14. 

“LIBOR Screen Rate” has the meaning assigned to such term in the definition of “LIBO Rate”. 

“Net Cash Proceeds” means, with respect to any issuance of Qualified Equity Interests pursuant to a Specified
Equity Contribution, 100% of the cash from such issuance contributed to the capital of the Borrower. 

“NRGM” means Crestwood Midstream Partners LP (formerly known as Inergy Midstream, L.P.), a Delaware limited
partnership. 
 “Qualified Equity Interests” means any Capital Stock or other equity interests that are not
Disqualified Equity Interests. 

  
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 “Required Total Leverage Ratio” means 4.75 to 1.00;
provided that the Required Total Leverage Ratio shall be (i) 5.75 to 1.00 solely for the fiscal quarter of the Borrower ending December 31, 2013 and (ii) 5.50 to 1.00 solely for the fiscal quarter of the Borrower ending
March 31, 2014. 
 “S&P” means Standard & Poor’s Ratings Services, a
Standard & Poor’s Financial Services LLC business. 
 “SEC” means the United States Securities
and Exchange Commission. 
 “Specified Equity Amount” has the meaning assigned to such term in
Section 7.02(a). 
 “Specified Equity Contribution” means any cash contribution made to the equity of
the Borrower and/or any purchase or investment made in cash in any Capital Stock or other equity interests of the Borrower, in each case other than Disqualified Equity Interests, made pursuant to Section 7.02. 

“Specified Equity Payment Conditions” has the meaning assigned to such term in Section 6.06. 

“Specified Swap Obligation” means, with respect to any Credit Party, any obligation to pay or perform under
any agreement, contract or transaction that constitutes a “swap” within the meaning of Section 1a(47) of the Commodity Exchange Act or any rules or regulations promulgated thereunder. 

“Total Pro Forma Cash Distributions” means, for any period, the sum of (i) the total amount of cash
distributions actually paid by the Borrower in respect of its limited partner units (including any Qualified Equity Interests issued pursuant to a Specified Equity Contribution) for such period plus (ii) the total amount of cash
distributions not paid by the Borrower for such period in respect of its then outstanding Qualified Equity Interests as a result of a failure to satisfy the Specified Equity Payment Conditions (it being understood and agreed that the amount of
unpaid cash distributions described in this clause (ii) shall be calculated based on the actual distribution rate for limited partner units of the Borrower in effect for such period); provided that, in each case, the cash distribution
per limited partner unit of the Borrower (including any Qualified Equity Interests issued pursuant to a Specified Equity Contribution) used to calculate Total Pro Forma Cash Distributions shall be not less than $0.135 per limited partner unit on a
quarterly basis and not less than $0.54 per limited partner unit on an annual basis. 
 (e) Section 2.06(j) of the Credit Agreement is
amended to delete the phrase “clause (h) or (i) of Article VII” appearing therein and replace such phrase with “Section 7.01(h) or (i)”. 

(f) Section 2.11 of the Credit Agreement is amended to add the following as a new clause (b)(iii) thereto: 

(iii) Net Cash Proceeds from Specified Equity Contributions. In the event and on each occasion that any Net Cash
Proceeds are received by or on behalf of the Borrower pursuant to a Specified Equity Contribution, the Borrower shall, immediately after such Net Cash Proceeds are received (and in any event within three (3) Business Days after receipt
thereof), prepay the General Partnership Loans in an aggregate amount equal to 100% of such Net Cash Proceeds. 

  
 5 

 (g) Section 2.15 of the Credit Agreement is amended to (i) delete the phrase “or
similar requirement” appearing in clause (a)(i) thereof and replace such phrase with “, liquidity or similar requirement (including any compulsory loan requirement, insurance charge or other assessment)”, (ii) add the phrase
“, cost or expense (other than Taxes)” immediately following the phrase “market any other condition” appearing in clause (a)(ii) thereof, (iii) add the phrase “or liquidity” immediately following the phrase
“regarding capital” appearing in clause (b) thereof and (iv) add the phrase “and liquidity” immediately following the phrase “with respect to capital adequacy” appearing in clause (b) thereof. 

(h) Section 5.10 of the Credit Agreement is amended to delete each occurrence of the phrase “clause (d)(i) of Article VII
hereof” appearing therein and replace each such phrase with “Section 7.01(d)(i)”. 
 (i) Section 6.06 of the Credit
Agreement is amended to add the parenthetical “(provided that, in addition to the foregoing, the Borrower may only pay cash distributions in respect of Qualified Equity Interests issued pursuant to a Specified Equity Contribution if
(A) the Distribution Coverage Ratio is greater than 1.00 to 1.00 (x) for the fiscal quarter ended immediately prior to the most recently ended fiscal quarter and (y) for the most recently ended fiscal quarter and (B) at the time
of and immediately after giving effect (including pro forma effect) to such cash distribution the Total Leverage Ratio is less than or equal to 4.00 to 1.00 (the foregoing conditions set forth in this proviso being referred to as the
“Specified Equity Payment Conditions”))” immediately following the phrase “Available Cash” appearing therein. 

(j) Section 6.11 of the Credit Agreement is amended to add the parenthetical “(including in connection with any Specified Equity
Contribution)” immediately following the phrase “Capital Stock” appearing therein. 
 (k) Article VII of the Credit Agreement
is amended to (i) change Article VII to a new Section 7.01, (ii) add the parenthetical “(provided that any Event of Default under this Section 7.01(d)(i) in respect of Section 6.12 is subject to cure as
contemplated by Section 7.02)” at the end of clause (d)(i) thereof, (iii) delete each occurrence of the word “Article” appearing in the final paragraph of Section 7.01 and replace each such word with “Section
7.01” and (iv) add the following as a new Section 7.02: 
 SECTION 7.02. Borrower’s Right to Cure. 

(a) Notwithstanding anything to the contrary contained in Section 7.01, in the event that the Borrower fails to comply
with the requirements of Section 6.12 for any fiscal quarter, and if the Borrower receives a Specified Equity Contribution at any time from the last day of such fiscal quarter until the date on which financial statements with respect to such
fiscal quarter are required to be delivered pursuant to Section 5.01, the Borrower shall apply the amount of the Net Cash Proceeds of such Specified Equity Contribution (such net cash proceeds, the “Specified Equity
Amount”) to prepay the Loans and any other Debt of the Borrower outstanding at such time so long as (i) such Net Cash Proceeds are used first to prepay the Loans as set forth in Section 2.11(b)(iii) and second to
repay any other Debt of the Borrower outstanding at such time and (ii) such Specified Equity Amount is actually received by the Borrower in cash in the form of Qualified Equity Interests at any time after the last day of such fiscal quarter and
prior to the date on which financial statements are required to be delivered with respect to such fiscal quarter hereunder. Upon receipt of the Specified Equity Amount for such fiscal quarter as set forth above, the financial covenants set forth in
Section 6.12 shall be recalculated, giving effect on a pro forma basis to the prepayment of the Loans and other Debt of the Borrower as set forth above in an amount equal to such Specified Equity Amount. 

  
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 (b) If, after the exercise of any Specified Equity Contribution and the
recalculations pursuant to Section 7.02(a) above, the Borrower shall then be in compliance with the requirements of Section 6.12 for the applicable fiscal quarter (including for purposes of Section 4.02), the Borrower shall be
deemed to have satisfied the requirements of Section 6.12 as of the relevant date of determination with the same effect as though there had been no failure to comply therewith at such date, and the applicable Default or Event of Default
under Section 7.01 that had occurred shall be deemed cured; provided that (i) in each period of four consecutive fiscal quarters, there shall be at least two (2) fiscal quarters in which no Specified Equity
Contribution is made, (ii) no more than three (3) Specified Equity Contributions will be made in the aggregate during the term of this Agreement and (iii) the Specified Equity Amount in respect of any fiscal quarter shall be no more
than the amount required to cause the Borrower to have a Total Leverage Ratio of not less than 4.00 to 1.00 for such fiscal quarter. 

(c) The parties hereby acknowledge that this Section 7.02 (i) may only be relied on for the purpose of determining
the existence of a Default or an Event of Default in respect of Section 6.12 for any period of four consecutive fiscal quarters that includes the fiscal quarter for which a Specified Equity Contribution was made and (ii) may not be relied
on for any other purpose under any Credit Document, including, without limitation, for purposes of determining pricing or the availability or amount permitted pursuant to any covenant under Article VI. 

2. Amendment to the Pledge and Security Agreement. Effective as of the Effective Date defined below, the Credit Parties and the
Administrative Agent agree that the Pledge and Security Agreement is hereby amended to add the sentence “Notwithstanding the foregoing, amounts received from any Credit Party shall not be applied to any Excluded Swap Obligation of such Credit
Party.” at the of Section 7.4 of the Pledge and Security Agreement. 
 3. Amendments to the Subsidiary Guaranty. Effective
as of the Effective Date defined below, the Subsidiary Guarantors and the Administrative Agent agree that the Subsidiary Guaranty is hereby amended 

(a) Section 2 of the Subsidiary Guaranty is amended to add the parenthetical “(provided, however, that the definition of
“Guaranteed Obligations” shall not create any Guaranty by any Guarantor of (or grant of security interest by any Guarantor to support, as applicable) any Excluded Swap Obligations of such Guarantor for purposes of determining any
obligations of any Guarantor)” immediately following the phrase “the “Guaranteed Obligations”” appearing therein. 

(b) The Subsidiary Guaranty is amended to add the following as a new Section 22 thereof: 

Section 22. Keepwell. Each Qualified ECP Guarantor hereby jointly and severally absolutely,
unconditionally and irrevocably undertakes to provide such funds or other support as may be needed from time to time by each other Guarantor to honor all of its obligations under this Guaranty in respect of Specified Swap Obligations (provided,
however, that each Qualified ECP Guarantor shall only be liable under this Section 22 for the maximum amount of such liability that can be hereby incurred without rendering its obligations under this Section 22 or otherwise
under this Guaranty voidable under applicable law relating to fraudulent conveyance or fraudulent transfer, and not for any greater amount). The obligations of each Qualified ECP Guarantor under this Section 22 shall remain in full force
and effect until a discharge of such Qualified ECP Guarantor’s Guaranteed Obligations in accordance with the terms hereof and the other Credit Documents. Each Qualified ECP Guarantor intends that this Section 22 constitute, and this
Section 22 shall be deemed to constitute, a “keepwell, support, or other agreement” for 

  
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the benefit of each other Guarantor for all purposes of Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. As used herein, “Qualified ECP Guarantor” means, in respect
of any Specified Swap Obligation, each Guarantor that has total assets exceeding $10,000,000 at the time the relevant Guaranty or grant of the relevant security interest becomes or would become effective with respect to such Specified Swap
Obligation or such other Person as constitutes an ECP and can cause another Person to qualify as an ECP at such time by entering into a keepwell under Section 1a(18)(A)(v)(II) of the Commodity Exchange Act. 

4. Conditions of Effectiveness. This Amendment shall become effective on the date that each of the following conditions is met (the
“Effective Date”): 
 (a) The Administrative Agent shall have received counterparts of this Amendment duly executed by the
Borrower, the Subsidiary Guarantors, the Required Lenders and the Administrative Agent. 
 (b) The Administrative Agent shall have received
all fees and other amounts due and payable on or prior to date hereof, including, to the extent invoiced, reimbursement or payment of all out-of-pocket expenses (including fees and expenses of counsel for the Administrative Agent) required to be
reimbursed or paid by the Borrower in connection with this Amendment. 
 5. Representations and Warranties of the Credit Parties.
Each of the Credit Parties hereby represents and warrants as follows: 
 (a) This Amendment and each Credit Document to which such Credit
Party is a party (in each case as modified hereby) constitutes the legal, valid and binding obligation of such Credit Party, enforceable in accordance with its terms, except as such enforcement may be limited by bankruptcy, insolvency,
reorganization, moratorium or similar state or federal debtor relief laws from time to time in effect which affect the enforcement of creditors’ rights in general and the availability of equitable remedies. 

(b) The representations and warranties of such Credit Party set forth in each Credit Document to which such Credit Party is a party (in each
case as modified hereby) are true and correct on and as of the date hereof in all material respects (other than those representations and warranties already qualified by materiality or material adverse effect, such representations and warranties to
be accurate in all respects), except to the extent that such representations and warranties specifically refer to an earlier date, in which case they shall be true and correct as of such earlier date in all material respects (other than those
representations and warranties already qualified by materiality or material adverse effect, such representations and warranties to be accurate in all respects). 

6. Reference to and Effect on the Credit Documents. 

(a) Upon the effectiveness hereof, each reference to the Credit Agreement, the Pledge and Security Agreement and the Guaranty in any Credit
Document shall mean and be a reference to the Credit Agreement, the Pledge and Security Agreement and the Guaranty as modified hereby, respectively. 

(b) Each Credit Document and all other documents, instruments and agreements executed and/or delivered in connection therewith shall remain in
full force and effect and are hereby ratified and confirmed. 

  
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 (c) Except with respect to the subject matter hereof, the execution, delivery and effectiveness
of this Amendment shall not operate as a waiver of any right, power or remedy of the Administrative Agent or the Lenders, nor constitute a waiver of any provision of the Credit Agreement, the other Credit Documents or any other documents,
instruments and agreements executed and/or delivered in connection therewith. 
 (d) Upon the effectiveness hereof, this Amendment shall be a
Credit Document for all purposes. 
 7. Consent and Reaffirmation. Without in any way establishing a course of dealing by the
Administrative Agent or any Lender, each of the undersigned Credit Parties consents to the Amendment and reaffirms the terms and conditions of the Credit Agreement and any other Credit Document executed by it and acknowledges and agrees that such
Credit Agreement and each and every such Credit Document executed by the undersigned in connection with the Credit Agreement remains in full force and effect and is hereby reaffirmed, ratified and confirmed. 

8. Governing Law. This Amendment shall be construed in accordance with and governed by the law of the State of New York. 

9. Headings. Section headings in this Amendment are included herein for convenience of reference only and shall not constitute a part
of this Amendment for any other purpose. 
 10. Counterparts. This Amendment may be executed by one or more of the parties hereto on
any number of separate counterparts, and all of said counterparts taken together shall be deemed to constitute one and the same instrument. Signatures delivered by facsimile or PDF shall have the same force and effect as manual signatures delivered
in person. 
 [Signature Pages Follow] 

  
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 IN WITNESS WHEREOF, this Amendment has been duly executed as of the day and year first above
written. 
  

			
	 CRESTWOOD EQUITY PARTNERS LP, as the Borrower
  

By: CRESTWOOD EQUITY GP LLC,
 its general partner

		
	By:	 	 /s/ Michael J. Campbell

		 	Name: Michael J. Campbell
		 	Title: SVP - CFO

 Signature Page to Amendment No. 7 to 

Amended and Restated Credit Agreement 

Crestwood Equity Partners LP 

									
	L & L TRANSPORTATION, LLC,	 		 	STELLAR PROPANE SERVICE, LLC,
	as a Subsidiary Guarantor	 		 	as a Subsidiary Guarantor
					
	By:	 	 /s/ Michael J. Campbell
	 		 	By:	 	 /s/ Michael J. Campbell

	Name: Michael J. Campbell	 		 	Name: Michael J. Campbell
	Title:   SVP - CFO	 		 	Title:   SVP - CFO
			
	INERGY TRANSPORTATION, LLC,	 		 	INERGY SALES & SERVICE, INC.,
	as a Subsidiary Guarantor	 		 	as a Subsidiary Guarantor
					
	By:	 	 /s/ Michael J. Campbell
	 		 	By:	 	 /s/ Michael J. Campbell

	Name: Michael J. Campbell	 		 	Name: Michael J. Campbell
	Title:   SVP - CFO	 		 	Title:   SVP - CFO
			
	CEQP FINANCE CORP.,	 		 	INERGY PARTNERS, LLC,
	as a Subsidiary Guarantor	 		 	as a Subsidiary Guarantor
					
	By:	 	 /s/ Michael J. Campbell
	 		 	By:	 	 /s/ Michael J. Campbell

	Name: Michael J. Campbell	 		 	Name: Michael J. Campbell
	Title:   SVP - CFO	 		 	Title:   SVP - CFO
			
	TRES PALACIOS GAS STORAGE LLC,	 		 	IPCH ACQUISITION CORP.,
	as a Subsidiary Guarantor	 		 	as a Subsidiary Guarantor
					
	By:	 	 /s/ Michael J. Campbell
	 		 	By:	 	 /s/ Michael J. Campbell

	Name: Michael J. Campbell	 		 	Name: Michael J. Campbell
	Title:   SVP - CFO	 		 	Title:   SVP - CFO

  
 Signature Page to
Amendment No. 7 to 
 Amended and Restated Credit Agreement 

Crestwood Equity Partners LP 

									
	CRESTWOOD MIDSTREAM GP, LLC,	 		 	TRES PALACIOS MIDSTREAM, LLC,
	as a Subsidiary Guarantor	 		 	as a Subsidiary Guarantor
					
	By:	 	 /s/ Michael J. Campbell
	 		 	By:	 	 /s/ Michael J. Campbell

	Name: Michael J. Campbell	 		 	Name: Michael J. Campbell
	Title:   SVP - CFO	 		 	Title:   SVP - CFO
			
	MGP GP, LLC,	 		 	INERGY MIDSTREAM HOLDINGS, LP,
	as a Subsidiary Guarantor	 		 	as a Subsidiary Guarantor
					
	By:	 	 /s/ Michael J. Campbell
	 		 	By:	 	 /s/ Michael J. Campbell

	Name: Michael J. Campbell	 		 	Name: Michael J. Campbell
	Title:   SVP - CFO	 		 	Title:   SVP - CFO
			
	CRESTWOOD OPERATIONS, LLC,	 		 	INERGY SERVICES, LLC,
	as a Subsidiary Guarantor	 		 	as a Subsidiary Guarantor
					
	By:	 	 /s/ Michael J. Campbell
	 		 	By:	 	 /s/ Michael J. Campbell

	Name: Michael J. Campbell	 		 	Name: Michael J. Campbell
	Title:   SVP - CFO	 		 	Title:   SVP - CFO
				
	 INERGY WEST COAST, LLC,
 as a
Subsidiary Guarantor
	 		 		 	
					
	By:	 	 /s/ Michael J. Campbell
	 		 		 	
	Name: Michael J. Campbell	 		 		 	
	Title:   SVP - CFO	 		 		 	

  
 Signature Page to
Amendment No. 7 to 
 Amended and Restated Credit Agreement 

Crestwood Equity Partners LP 

 
			
	JPMORGAN CHASE BANK, N.A.,
	individually as a Lender and as Administrative Agent
		
	By:	 	 /s/ Preeti Yeung

	Name: Preeti Yeung
	Title: Authorized Officer

  
 Signature Page to
Amendment No. 7 to 
 Amended and Restated Credit Agreement 

Crestwood Equity Partners LP 

 
			
	Name of Lender:
	
	Bank of America, N.A.
		
	By:	 	 /s/ Ronald E. McKeig

		 	Name: Ronald E. McKeig
		 	Title:   Managing Director

  
 Signature Page to
Amendment No. 7 to 
 Amended and Restated Credit Agreement 

Crestwood Equity Partners LP 

 
			
	Name of Lender:
	
	Wells Fargo Bank, N.A.
		
	By:	 	 /s/ Andrew Ostrov

		 	Name: Andrew Ostrov
		 	Title:   Director

  
 Signature Page to
Amendment No. 7 to 
 Amended and Restated Credit Agreement 

Crestwood Equity Partners LP 

 
			
	Name of Lender:
	
	BARCLAYS BANK PLC
		
	By:	 	 /s/ Christopher R. Lee

		 	Name: Christopher R. Lee
		 	Title:   Assistant Vice President

  
 Signature Page to
Amendment No. 7 to 
 Amended and Restated Credit Agreement 

Crestwood Equity Partners LP 

 
			
	Name of Lender:
	
	CREDIT SUISSE CAYMAN ISLANDS BRANCH
		
	By:	 	/s/ Mikhail Faybusovich
		 	Name: Mikhail Faybusovich
		 	Title:   Authorized Signatory
	
	For any Lender requiring a second signature line:
		
	By:	 	/s/ Tyler R. Smith
	Name:	 	Tyler R. Smith
	Title:	 	Authorized Signatory

  
 Signature Page to
Amendment No. 7 to 
 Amended and Restated Credit Agreement 

Crestwood Equity Partners LP 

 
			
	MORGAN STANLEY BANK, N.A.
		
	By:	 	/s/ Christopher Winthrop
		 	Name: Christopher Winthrop
		 	Title:   Authorized Signatory

  
 Signature Page to
Amendment No. 7 to 
 Amended and Restated Credit Agreement 

Crestwood Equity Partners LP 

 
			
	Name of Lender: SunTrust Bank
	
	  

		
	By:	 	/s/ Yann Pirio
		 	Name: Yann Pirio
		 	Title: Director

  
 Signature Page to
Amendment No. 7 to 
 Amended and Restated Credit Agreement 

Crestwood Equity Partners LP 

 
			
	Name of Lender:
	
	Citibank, N.A.
		
	By:	 	/s/ Todd Mogil
		 	Name: Todd Mogil
		 	Title: Vice President

  
 Signature Page to
Amendment No. 7 to 
 Amended and Restated Credit Agreement 

Crestwood Equity Partners LP 

 
			
	Name of Lender:
	
	Fifth Third Bank
		
	By:	 	/s/ Justin Crawford
		 	Name: Justin Crawford
		 	Title: Director

  
 Signature Page to
Amendment No. 7 to 
 Amended and Restated Credit Agreement 

Crestwood Equity Partners LP 

 
			
	Name of Lender:
	
	THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.
		
	By:	 	/s/ Sherwin Brandford
		 	Name: Sherwin Brandford
		 	Title: Vice President

  
 Signature Page to
Amendment No. 7 to 
 Amended and Restated Credit Agreement 

Crestwood Equity Partners LP 

 
			
	Comerica Bank:
	
	  

		
	By:	 	/s/ William B. Robinson
		 	Name: William B. Robinson
		 	Title: Vice President

  
 Signature Page to
Amendment No. 7 to 
 Amended and Restated Credit Agreement 

Crestwood Equity Partners LP 

 
			
	 ROYAL BANK OF CANADA,
 as a
Lender

		
	By:	 	/s/ Jason Y. York
		 	Name: Jason Y. York
		 	Title: Authorized Signatory

  
 Signature Page to
Amendment No. 7 to 
 Amended and Restated Credit Agreement 

Crestwood Equity Partners LP 

 
			
	 THE ROYAL BANK OF SCOTLAND PLC,
 as
a Lender

		
	By:	 	/s/ Stuart Gibson
		 	Name: Stuart Gibson
		 	Title: Authorised Signatory

  
 Signature Page to
Amendment No. 7 to 
 Amended and Restated Credit Agreement 

Crestwood Equity Partners LP 

 
			
	PNC BANK NATIONAL ASSOCIATION
		
	By:	 	/s/ John Berry
		 	Name: John Berry
		 	Title: Vice President

  
 Signature Page to
Amendment No. 7 to 
 Amended and Restated Credit Agreement 

Crestwood Equity Partners LP 

 
			
	BOKF NA, DDBA Bank of Oklahoma
	
	  

		
	By:	 	/s/ J. Nick Cooper
		 	Name: J. Nick Cooper
		 	Title: Vice President

  
 Signature Page to
Amendment No. 7 to 
 Amended and Restated Credit Agreement 

Crestwood Equity Partners LP 

 
			
	 Name of Lender:

	
	RAYMOND JAMES BANK, N.A.
		
	By:	 	/s/ Scott G. Axelrod
		 	Name: Scott G. Axelrod
		 	Title: Vice President

  
 Signature Page to
Amendment No. 7 to 
 Amended and Restated Credit Agreement 

Crestwood Equity Partners LP 

 
			
	 U.S. NATIONAL ASSOCIATION,

Lender

		
	By:	 	/s/ Jonathan H. Lee
		 	Name: Jonathan H. Lee
		 	Title: Vice President

  
 Signature Page to
Amendment No. 7 to 
 Amended and Restated Credit Agreement 

Crestwood Equity Partners LP 

 
			
	Name of Lender:
	
	BRANCH BANKING AND TRUST COMPANY
		
	By:	 	/s/ Ryan K. Michael
		 	Name: Ryan K. Michael
		 	Title: Senior Vice President
	
	For any Lender requiring a second signature line:
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 Signature Page to
Amendment No. 7 to 
 Amended and Restated Credit Agreement 

Crestwood Equity Partners LP 

 
			
	Name of Lender:
	
	The Private Bank and Trust Company
		
	By:	 	/s/ Brock Wood
		 	Name: Brock Wood
		 	Title: Associate Managing Director
	
	For any Lender requiring a second signature line:
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 Signature Page to
Amendment No. 7 to 
 Amended and Restated Credit Agreement 

Crestwood Equity Partners LP 

 
			
	Name of Lender:
	
	Bank Midwest, a division of NBH BANK, N.A.
		
	By:	 	/s/ Quinton L. Ostrom
		 	Name: Quinton L. Ostrom
		 	Title: Senior Vice President
	
	For any Lender requiring a second signature line:
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 Signature Page to
Amendment No. 7 to 
 Amended and Restated Credit Agreement 

Crestwood Equity Partners LPf8k121913ex10i_pacificgreen.htm

Exhibit 10.1

 

THIS PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT (THE “SUBSCRIPTION AGREEMENT”) RELATES TO AN OFFERING OF SECURITIES IN AN OFFSHORE TRANSACTION TO PERSONS WHO ARE NOT U.S. PERSONS (AS DEFINED HEREIN) PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”).

 

NONE OF THE SECURITIES TO WHICH THIS SUBSCRIPTION AGREEMENT RELATES HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, NONE MAY BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OR TO U.S. PERSONS (AS DEFINED HEREIN) EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.

 

PRIVATE PLACEMENT SUBSCRIPTION

FOR NON U.S. SUBSCRIBERS

 

PACIFIC GREEN TECHNOLOGIES INC.

5205 Prospect Road, Suite 135-226, San Jose, California  95129

PRIVATE PLACEMENT

 

INSTRUCTIONS TO SUBSCRIBER:

	
1.

	
COMPLETE the information on page 2 of this Subscription Agreement.

 

  

  

  

 

PACIFIC GREEN TECHNOLOGIES INC.

PRIVATE PLACEMENT

 

The Subscriber hereby irrevocably subscribes for, and on Closing will purchase from the Company, the following securities at a price of USD$3.20 per Share

 

	 
	
__________ Shares

	 

 

The Subscriber directs the Company to issue, register and deliver the certificates representing the Shares as follows:

 

	 	 	 	 	 
	 	
REGISTRATION INSTRUCTIONS:

	 	
DELIVERY INSTRUCTIONS:

	 
	 	 	 	 	 
	 	 	 	 	 
	 	
Name to appear on certificate

	 	
Name and account reference, if applicable

	 
	 	 	 	 	 
	 	 	 	 	 
	 	
SIN/Tax ID No./Passport No.

	 	
Contact name

	 
	 	 	 	 	 
	 	 	 	 	 
	 	
Address

	 	
Address

	 
	 	 	 	 	 
	 	 	 	 	 
	 	 	 	
Telephone number

	 
	 	 	 	 	 
	 	 	 	 	 
	 	
EXECUTED by the Subscriber this _______ day of _________ , _________ . By executing this Agreement, the Subscriber certifies that the Subscriber and any beneficial purchaser for whom the Subscriber is acting is resident in the jurisdiction shown as the “Address of the Subscriber”. The address of the Subscriber will be accepted by the Company as a representative as to the address of residency for the Subscriber.

	 
	 	 	 	 	 
	 	
WITNESS:

	 	
EXECUTION BY SUBSCRIBER:

	 
	 	 	 	 	 
	 	 	 	X	 
	 	
Signature of witness

	 	
Signature of individual (if Subscriber is an individual)

	 
	 	 	 	 	 
	 	 	 	X	 
	 	
Name of witness

	 	
Authorized signatory (if Subscriber is not an individual)

	 
	 	 	 	 	 
	 	 	 	 	 
	 	Address of witness	 	
Name of Subscriber (please print)

	 
	 	 	 	 	 
	 	 	 	 	 
	 	ACCEPTED this _______ day of ________ , _________ .	 	
Name of authorized signatory (please print)

	 
	 	 	 	 	 
	 	
PACIFIC GREEN TECHNOLOGIES INC.

	 	 	 
	 	
Per:

	 	
Address of Subscriber (residence)

	 
	 	 	 	 	 
	 	 	 	 	 	 
	 	
Authorized signatory

	 	
Telephone number and e-mail address

	 
	 	 	 	 	 

By signing this acceptance, the Company agrees to be bound by all representations, warranties, covenants and agreements on pages 3-11 hereof.

This Subscription Agreement may be executed in any number of counterparts, each of which, when so executed and delivered, shall constitute an original and all of which together shall constitute one instrument.  Delivery of an executed copy of this Subscription Agreement by electronic facsimile transmission or other means of electronic communication capable of producing a printed copy will be deemed to be execution and delivery of this Subscription Agreement as of the date hereinafter set forth.

 

  

- 2 -

  

 

THIS PRIVATE PLACEMENT SUBSCRIPTION AGREEMENT (THE “SUBSCRIPTION AGREEMENT”) RELATES TO AN OFFERING OF SECURITIES IN AN OFFSHORE TRANSACTION TO PERSONS WHO ARE NOT U.S. PERSONS (AS DEFINED HEREIN) PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”).

NONE OF THE SECURITIES TO WHICH THIS SUBSCRIPTION AGREEMENT RELATES HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, NONE MAY BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES OR TO U.S. PERSONS (AS DEFINED HEREIN) EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.

 

PRIVATE PLACEMENT SUBSCRIPTION

(Non U.S. Subscribers Only)

	
TO:

	
PACIFIC GREEN TECHNOLOGIES INC. (the “Company”)

 

Purchase of Shares

 

1.                        SUBSCRIPTION

 

1.1                      The undersigned (the “Subscriber”) hereby irrevocably subscribes for and agrees to purchase the number of shares of the Company’s common stock (the “Shares”) as set out on page 2 of this Subscription Agreement at a price of USD$3.20 per Share (such subscription and agreement to purchase being the “Subscription”), for an aggregate of USD$                      (the “Subscription Proceeds”), which Subscription Proceeds are tendered herewith, on the basis of the representations and warranties and subject to the terms and conditions set forth herein.  The Shares are referred to as the “Securities”.

 

1.2                      The Company hereby agrees to sell, on the basis of the representations and warranties and subject to the terms and conditions set forth herein, to the Subscriber the Shares.  Subject to the terms hereof, the Subscription Agreement will be effective upon its acceptance by the Company.

 

1.3                      Unless otherwise provided, all dollar amounts referred to in this Subscription Agreement are in lawful money of the United States of America.

 

2.                        PAYMENT

 

2.1                      The Subscription Proceeds must accompany this Subscription Agreement.  The Subscriber authorizes the Company’s lawyers to deliver the Subscription Proceeds to the Company if the Subscription Proceeds are delivered to the Company’s lawyers, without further instructions required.

 

2.2                      The Subscriber acknowledges and agrees that this Subscription Agreement and any other documents delivered in connection herewith will be held by the Company’s lawyers on behalf of the Company.  In the event that this Subscription Agreement is not accepted by the Company for whatever reason within 90 days of the delivery of an executed Subscription Agreement by the Subscriber, or the minimum offering amount is not achieved by that time, this Subscription Agreement, the Subscription Proceeds and any other documents delivered in connection herewith will be returned to the Subscriber at the address of the Subscriber as set forth in this Subscription Agreement without interest or deduction.

 

  

- 3 -

  

 

2.3                      Where the Subscription Proceeds are paid to the Company, the Company may treat the Subscription Proceeds as a non-interest bearing loan and may use the Subscription Proceeds prior to this Subscription Agreement being accepted by the Company.

 

2.4                      The Subscriber shall complete, sign and return to the Company as soon as possible, on request by the Company, any documents, questionnaires, notices and undertakings as may be required by regulatory authorities, stock exchanges and applicable law.

 

3.                        CLOSING

 

3.1                      Closing of the purchase and sale of the Shares shall occur on such date as may be determined by the Company in its sole discretion (the “Closing Date”).  The Subscriber acknowledges that Shares may be issued to other subscribers under this offering (the “Offering”) before or after the Closing Date.  The Company, may, at its discretion, elect to close the Offering in one or more closings, in which event the Company may agree with one or more subscribers (including the Subscriber hereunder) to complete delivery of the Shares to such subscriber(s) against payment therefore at any time on or prior to the Closing Date.

 

4.                        ACKNOWLEDGEMENTS OF SUBSCRIBER

 

4.1                      The Subscriber acknowledges and agrees that:

 

	
  

	
(a)

	
none of the Securities have been registered under the Securities Act of 1933, as amended (the “1933 Act”), or under any state securities or “blue sky” laws of any state of the United States, and are being offered only in a transaction not involving any public offering within the meaning of the 1933 Act, and, unless so registered, may not be offered or sold in the United States or to U.S. Persons (as defined herein), except pursuant to an effective registration statement under the 1933 Act, or pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the 1933 Act, and in each case only in accordance with applicable state and provincial securities laws;

 

	
  

	
(b)

	
the Company will refuse to register any transfer of any of the Securities not made in accordance with the provisions of Regulation S, pursuant to an effective registration statement under the 1933 Act or pursuant to an available exemption from, or in a transaction not subject to, the registration requirements of the 1933 Act;

 

	
  

	
(c)

	
the decision to execute this Subscription Agreement and purchase the Shares agreed to be purchased hereunder has not been based upon any oral or written representation as to fact or otherwise made by or on behalf of the Company;

 

	
  

	
(d)

	
the Subscriber and the Subscriber’s advisor(s) have had a reasonable opportunity to review the Company Information and to ask questions of and receive answers from the Company regarding the Offering, and to obtain additional information, to the extent possessed or obtainable without unreasonable effort or expense, necessary to verify the accuracy of the information contained in the Company Information, or any other document provided to the Subscriber;

 

	
  

	
(e)

	
the books and records of the Company were available upon reasonable notice for inspection, subject to certain confidentiality restrictions, by the Subscriber during reasonable business hours at its principal place of business and that all documents, records and books pertaining to this Offering have been made available for inspection by the Subscriber, the Subscriber’s attorney and/or advisor(s);

 

	
  

	
(f)

	
by execution hereof the Subscriber has waived the need for the Company to communicate its acceptance of the purchase of the Shares pursuant to this Subscription Agreement;

 

  

- 4 -

  

 

	
  

	
(g)

	
the Company is entitled to rely on the representations and warranties and the statements and answers of the Subscriber contained in this Subscription Agreement and the Subscriber will hold harmless the Company from any loss or damage it may suffer as a result of the Subscriber’s failure to correctly complete this Subscription Agreement;

 

	
  

	
(h)

	
the Subscriber will indemnify and hold harmless the Company and, where applicable, its respective directors, officers, employees, agents, advisors and shareholders from and against any and all loss, liability, claim, damage and expense whatsoever (including, but not limited to, any and all fees, costs and expenses whatsoever reasonably incurred in investigating, preparing or defending against any claim, lawsuit, administrative proceeding or investigation whether commenced or threatened) arising out of or based upon any acknowledgment, representation or warranty of the Subscriber contained herein or in any other document furnished by the Subscriber to the Company in connection herewith, being untrue in any material respect or any breach or failure by the Subscriber to comply with any covenant or agreement made by the Subscriber to the Company in connection therewith;

 

	
  

	
(i)

	
the issuance and sale of the Shares to the Subscriber will not be completed if it would be unlawful or if, in the discretion of the Company acting reasonably, it is not in the best interests of the Company;

 

	
  

	
(j)

	
the Subscriber has been advised to consult the Subscriber’s own legal, tax and other advisors with respect to the merits and risks of an investment in the Securities and with respect to the applicable resale restrictions, and it is solely responsible (and the Company is not in any way responsible) for compliance with:

 

	
  

	
(i)

	
any applicable laws of the jurisdiction in which the Subscriber is resident in connection with the distribution of the Securities hereunder, and

 

	
  

	
(ii)

	
applicable resale restrictions;

 

	
  

	
(k)

	
the Subscriber has not acquired the Shares as a result of, and will not itself engage in, any “directed selling efforts” (as defined in Regulation S under the 1933 Act) in the United States in respect of any of the Securities which would include any activities undertaken for the purpose of, or that could reasonably be expected to have the effect of, conditioning the market in the United States for the resale of any of the Securities; provided, however, that the Subscriber may sell or otherwise dispose of any of the Shares pursuant to registration of any of the Shares pursuant to the 1933 Act and any applicable state securities laws or under an exemption from such registration requirements and as otherwise provided herein;

 

	
  

	
(l)

	
the Subscriber is outside the United States when receiving and executing this Subscription Agreement and is acquiring the Shares as principal for its own account, for investment purposes only, and not with a view to, or for, resale, distribution or fractionalization thereof, in whole or in part, and no other person has a direct or indirect beneficial interest in such Shares;

 

	
  

	
(m)

	
the statutory and regulatory basis for the exemption claimed for the offer and sale of the Shares, although in technical compliance with Regulation S, would not be available if the offering is part of a plan or scheme to evade the registration provisions of the 1933 Act;

 

	
  

	
(n)

	
none of the Securities are listed on any stock exchange or automated dealer quotation system and no representation has been made to the Subscriber that any of the Securities will become listed on any stock exchange or automated dealer quotation system;

 

	
  

	
(o)

	
neither the SEC nor any other securities commission or similar regulatory authority has reviewed or passed on the merits of any of the Securities;

 

  

- 5 -

  

 

	
  

	
(p)

	
no documents in connection with this Offering have been reviewed by the SEC or any state securities administrators;

 

	
  

	
(q)

	
there is no government or other insurance covering any of the Securities; and

 

	
  

	
(r)

	
this Subscription Agreement is not enforceable by the Subscriber unless it has been accepted by the Company, and the Subscriber acknowledges and agrees that the Company reserves the right to reject any subscription for any reason.

 

5.                        REPRESENTATIONS, WARRANTIES AND COVENANTS OF THE SUBSCRIBER

 

5.1                      The Subscriber hereby represents and warrants to and covenants with the Company (which representations, warranties and covenants shall survive the Closing Date) that:

 

	
  

	
(a)

	
the Subscriber is not a U.S. Person (as defined herein);

 

	
  

	
(b)

	
the Subscriber is not acquiring the Shares for the account or benefit of, directly or indirectly, any U.S. Person (as defined herein);

 

	
  

	
(c)

	
the Subscriber is resident in the jurisdiction set out on page 2 of this Subscription Agreement;

 

	
  

	
(d)

	
the Subscriber:

 

	
  

	
(i)

	
is knowledgeable of, or has been independently advised as to, the applicable securities laws of the securities regulators having application in the jurisdiction in which the Subscriber is resident (the “International Jurisdiction”) which would apply to the acquisition of the Shares,

 

	
  

	
(ii)

	
is purchasing the Shares pursuant to exemptions from prospectus or equivalent requirements under applicable securities laws or, if such is not applicable, the Subscriber is permitted to purchase the Shares under the applicable securities laws of the securities regulators in the International Jurisdiction without the need to rely on any exemptions,

 

	
  

	
(iii)

	
acknowledges that the applicable securities laws of the authorities in the International Jurisdiction do not require the Company to make any filings or seek any approvals of any kind whatsoever from any securities regulator of any kind whatsoever in the International Jurisdiction in connection with the issue and sale or resale of any of the Securities, and

 

	
  

	
(iv)

	
represents and warrants that the acquisition of the Shares by the Subscriber does not trigger:

 

	
  

	
A.

	
any obligation to prepare and file a prospectus or similar document, or any other report with respect to such purchase in the International Jurisdiction, or

 

	
  

	
B.

	
any continuous disclosure reporting obligation of the Company in the International Jurisdiction, and

 

the Subscriber will, if requested by the Company, deliver to the Company a certificate or opinion of local counsel from the International Jurisdiction which will confirm the matters referred to in subparagraphs (ii), (iii) and (iv) above to the satisfaction of the Company, acting reasonably;

 

	
  

	
(e)

	
the Subscriber is acquiring the Shares as principal for investment only and not with a view to, or for, resale, distribution or fractionalization thereof, in whole or in part, and, in particular, it has no intention to distribute either directly or indirectly any of the Securities in the United States or to U.S. Persons (as defined herein);

 

  

- 6 -

  

 

	
  

	
(f)

	
the Subscriber is outside the United States when receiving and executing this Subscription Agreement;

 

	
  

	
(g)

	
the Subscriber understands and agrees not to engage in any hedging transactions involving any of the Securities unless such transactions are in compliance with the provisions of the 1933 Act and in each case only in accordance with applicable state securities laws;

 

	
  

	
(h)

	
the Subscriber acknowledges that it has not acquired the Shares as a result of, and will not itself engage in, any “directed selling efforts” (as defined in Regulation S under the 1933 Act) in the United States in respect of any of the Securities which would include any activities undertaken for the purpose of, or that could reasonably be expected to have the effect of, conditioning the market in the United States for the resale of any of the Securities; provided, however, that the Subscriber may sell or otherwise dispose of any of the Shares pursuant to registration of any of the Shares pursuant to the 1933 Act and any applicable state securities laws or under an exemption from such registration requirements and as otherwise provided herein;

 

	
  

	
(i)

	
the Subscriber has the legal capacity and competence to enter into and execute this Subscription Agreement and to take all actions required pursuant hereto and, if the Subscriber is a corporation, it is duly incorporated and validly subsisting under the laws of its jurisdiction of incorporation and all necessary approvals by its directors, shareholders and others have been obtained to authorize execution and performance of this Subscription Agreement on behalf of the Subscriber;

 

	
  

	
(j)

	
the entering into of this Subscription Agreement and the transactions contemplated hereby do not result in the violation of any of the terms and provisions of any law applicable to, or, if applicable, the constating documents of, the Subscriber, or of any agreement, written or oral, to which the Subscriber may be a party or by which the Subscriber is or may be bound;

 

	
  

	
(k)

	
the Subscriber has duly executed and delivered this Subscription Agreement and it constitutes a valid and binding agreement of the Subscriber enforceable against the Subscriber;

 

	
  

	
(l)

	
the Subscriber has received and carefully read this Subscription Agreement;

 

	
  

	
(m)

	
the Subscriber (i) has adequate net worth and means of providing for its current financial needs and possible personal contingencies, (ii) has no need for liquidity in this investment, and (iii) is able to bear the economic risks of an investment in the Securities for an indefinite period of time, and can afford the complete loss of such investment;

 

	
  

	
(n)

	
the Subscriber has the requisite knowledge and experience in financial and business matters as to be capable of evaluating the merits and risks of the investment in the Securities and the Company, and the Subscriber is providing evidence of knowledge and experience in these matters;

 

	
  

	
(o)

	
the Subscriber understands and agrees that the Company and others will rely upon the truth and accuracy of the acknowledgements, representations, warranties, covenants and agreements contained in this Subscription Agreement and agrees that if any of such acknowledgements, representations and agreements are no longer accurate or have been breached, the Subscriber shall promptly notify the Company;

 

	
  

	
(p)

	
the Subscriber is aware that an investment in the Company is speculative and involves certain risks, including the possible loss of the investment;

 

	
  

	
(q)

	
the Subscriber is purchasing the Shares for its own account for investment purposes only and not for the account of any other person and not for distribution, assignment or resale to others, and no other person has a direct or indirect beneficial interest is such Shares, and the Subscriber has not subdivided his interest in the Shares with any other person;

 

  

- 7 -

  

 

	
  

	
(r)

	
the Subscriber is not an underwriter of, or dealer in, the shares of the Company’s common stock, nor is the Subscriber participating, pursuant to a contractual agreement or otherwise, in the distribution of the Shares;

 

	
  

	
(s)

	
the Subscriber has made an independent examination and investigation of an investment in the Securities and the Company and has depended on the advice of its legal and financial advisors and agrees that the Company will not be responsible in anyway whatsoever for the Subscriber’s decision to invest in the Securities and the Company;

 

	
  

	
(t)

	
if the Subscriber is acquiring the Shares as a fiduciary or agent for one or more investor accounts, the Subscriber has sole investment discretion with respect to each such account, and the Subscriber has full power to make the foregoing acknowledgements, representations and agreements on behalf of such account;

 

	
  

	
(u)

	
the Subscriber is not aware of any advertisement of any of the Shares and is not acquiring the Shares as a result of any form of general solicitation or general advertising including advertisements, articles, notices or other communications published in any newspaper, magazine or similar media or broadcast over radio or television, or any seminar or meeting whose attendees have been invited by general solicitation or general advertising;

 

	
  

	
(v)

	
no person has made to the Subscriber any written or oral representations:

 

	
  

	
(i)

	
that any person will resell or repurchase any of the Securities,

 

	
  

	
(ii)

	
that any person will refund the purchase price of any of the Securities,

 

	
  

	
(iii)

	
as to the future price or value of any of the Securities, or

 

	
  

	
(iv)

	
that any of the Securities will be listed and posted for trading on any stock exchange or automated dealer quotation system or that application has been made to list and post any of the Securities of the Company on any stock exchange or automated dealer quotation system; and

 

	
  

	
(w)

	
the Subscriber acknowledges and agrees that the Company shall not consider the Subscriber’s Subscription for acceptance unless the undersigned provides to the Company, along with an executed copy of this Subscription Agreement:

 

	
  

	
(i)

	
such other supporting documentation that the Company or its legal counsel may request to establish the Subscriber’s qualification as a qualified investor.

 

5.2                      In this Subscription Agreement, the term “U.S. Person” shall have the meaning ascribed thereto in Regulation S promulgated under the 1933 Act and for the purpose of the Subscription Agreement includes any person in the United States.

 

6.                        ACKNOWLEDGEMENT AND WAIVER

 

6.1                      The Subscriber has acknowledged that the decision to purchase the Shares was solely made on the Company Information.  The Subscriber hereby waives, to the fullest extent permitted by law, any rights of withdrawal, rescission or compensation for damages to which the Subscriber might be entitled in connection with the distribution of any of the Shares.

 

  

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7.                        REPRESENTATIONS AND WARRANTIES WILL BE RELIED UPON BY THE COMPANY

 

7.1                      The Subscriber acknowledges that the acknowledgements, representations and warranties contained herein are made by it with the intention that they may be relied upon by the Company and its legal counsel in determining the Subscriber’s eligibility to purchase the Shares under applicable securities legislation, or (if applicable) the eligibility of others on whose behalf it is contracting hereunder to purchase the Shares under applicable securities legislation.  The Subscriber further agrees that by accepting delivery of the certificates representing the Shares, it will be representing and warranting that the acknowledgements representations and warranties contained herein are true and correct as of the date hereof and will continue in full force and effect notwithstanding any subsequent disposition by the Subscriber of such Shares.

 

8.                        RESALE RESTRICTIONS

 

8.1                      The Subscriber acknowledges that any resale of the Securities will be subject to resale restrictions contained in the securities legislation applicable to the Subscriber or proposed transferee.  The Subscriber acknowledges that none of the Securities have been registered under the 1933 Act or the securities laws of any state of the United States.  None of the Securities may be offered or sold in the United States unless registered in accordance with federal securities laws and all applicable state securities laws or exemptions from such registration requirements are available.

 

9.                        LEGENDING AND REGISTRATION OF SUBJECT SECURITIES

 

9.1                      The Subscriber hereby acknowledges that upon the issuance thereof, and until such time as the same is no longer required under the applicable securities laws and regulations, the certificates representing the Shares will bear a legend in substantially the following form:

 

THE SECURITIES REPRESENTED HEREBY HAVE BEEN OFFERED IN AN OFFSHORE TRANSACTION TO A PERSON WHO IS NOT A U.S. PERSON (AS DEFINED HEREIN) PURSUANT TO REGULATION S UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED (THE “1933 ACT”).

 

NONE OF THE SECURITIES REPRESENTED HEREBY HAVE BEEN REGISTERED UNDER THE 1933 ACT, OR ANY U.S. STATE SECURITIES LAWS, AND, UNLESS SO REGISTERED, MAY NOT BE OFFERED OR SOLD, DIRECTLY OR INDIRECTLY, IN THE UNITED STATES (AS DEFINED HEREIN) OR TO U.S. PERSONS EXCEPT IN ACCORDANCE WITH THE PROVISIONS OF REGULATION S UNDER THE 1933 ACT, PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE 1933 ACT, OR PURSUANT TO AN AVAILABLE EXEMPTION FROM, OR IN A TRANSACTION NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE 1933 ACT AND IN EACH CASE ONLY IN ACCORDANCE WITH APPLICABLE STATE SECURITIES LAWS.  IN ADDITION, HEDGING TRANSACTIONS INVOLVING THE SECURITIES MAY NOT BE CONDUCTED UNLESS IN COMPLIANCE WITH THE 1933 ACT.  “UNITED STATES” AND “U.S. PERSON” ARE AS DEFINED BY REGULATION S UNDER THE 1933 ACT.

 

9.2                      The Subscriber hereby acknowledges and agrees to the Company making a notation on its records or giving instructions to the registrar and transfer agent of the Company in order to implement the restrictions on transfer set forth and described in this Subscription Agreement.

 

  

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10.                      COLLECTION OF PERSONAL INFORMATION

 

10.1                     The Subscriber acknowledges and consents to the fact that the Company is collecting the Subscriber’s personal information for the purpose of fulfilling this Subscription Agreement and completing the Offering.  The Subscriber’s personal information (and, if applicable, the personal information of those on whose behalf the Subscriber is contracting hereunder) may be disclosed by the Company to (a) stock exchanges or securities regulatory authorities, (b) the Company’s registrar and transfer agent, and (c) any of the other parties involved in the Offering, including legal counsel, and may be included in record books in connection with the Offering.  By executing this Subscription Agreement, the Subscriber is deemed to be consenting to the foregoing collection, use and disclosure of the Subscriber’s personal information (and, if applicable, the personal information of those on whose behalf the Subscriber is contracting hereunder) and to the retention of such personal information for as long as permitted or required by law or business practice.  Notwithstanding that the Subscriber may be purchasing Shares as agent on behalf of an undisclosed principal, the Subscriber agrees to provide, on request, particulars as to the identity of such undisclosed principal as may be required by the Company in order to comply with the foregoing.

 

11.                      COSTS

 

11.1                    The Subscriber acknowledges and agrees that all costs and expenses incurred by the Subscriber (including any fees and disbursements of any special counsel retained by the Subscriber) relating to the purchase of the Shares shall be borne by the Subscriber.

 

12.                      GOVERNING LAW

 

12.1                    This Subscription Agreement is governed by the laws of the State of Delaware.  The Subscriber, in its personal or corporate capacity and, if applicable, on behalf of each beneficial purchaser for whom it is acting, irrevocably attorns to the exclusive jurisdiction of the Courts of the State of Delaware.

 

13.                      SURVIVAL

 

13.1                    This Subscription Agreement, including without limitation the representations, warranties and covenants contained herein, shall survive and continue in full force and effect and be binding upon the parties hereto notwithstanding the completion of the purchase of the Shares by the Subscriber pursuant hereto.

 

14.                      ASSIGNMENT

 

14.1                    This Subscription Agreement is not transferable or assignable.

 

15.                      SEVERABILITY

 

15.1                    The invalidity or unenforceability of any particular provision of this Subscription Agreement shall not affect or limit the validity or enforceability of the remaining provisions of this Subscription Agreement.

 

16.                      ENTIRE AGREEMENT

 

16.1                    Except as expressly provided in this Subscription Agreement and in the agreements, instruments and other documents contemplated or provided for herein, this Subscription Agreement contains the entire agreement between the parties with respect to the sale of the Shares and there are no other terms, conditions, representations or warranties, whether expressed, implied, oral or written, by statute or common law, by the Company or by anyone else.

 

17.                      NOTICES

 

17.1                    All notices and other communications hereunder shall be in writing and shall be deemed to have been duly given if mailed or transmitted by any standard form of telecommunication.  Notices to the Subscriber shall be directed to the address on page 2 and notices to the Company shall be directed to it at the first page of this Subscription Agreement.

 

18.                      COUNTERPARTS AND ELECTRONIC MEANS

 

18.1                    This Subscription Agreement may be executed in any number of counterparts, each of which, when so executed and delivered, shall constitute an original and all of which together shall constitute one instrument.  Delivery of an executed copy of this Subscription Agreement by electronic facsimile transmission or other means of electronic communication capable of producing a printed copy will be deemed to be execution and delivery of this Subscription Agreement as of the date hereinafter set forth.

 

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