Document:

exhibit4-2.htm

Exhibit 4.2

 

	
  RIGHTS CERTIFICATE #: 

	
NUMBER OF RIGHTS:       

 

THE TERMS AND CONDITIONS OF THE RIGHTS OFFERING ARE SET FORTH IN THE PARTNERSHIP'S PROSPECTUS SUPPLEMENT DATED SEPTEMBER 27, 2011 (THE "PROSPECTUS") AND ARE INCORPORATED HEREIN BY REFERENCE.   COPIES OF THE PROSPECTUS ARE AVAILABLE UPON REQUEST FROM PHOENIX ADVISORY PARTNERS, LLC, THE INFORMATION AGENT.

Blueknight Energy Partners, L.P. 

Organized under the laws of the State of Delaware 

 

TRANSFERABLE SUBSCRIPTION RIGHTS CERTIFICATE

 

Evidencing Transferable Subscription Rights to Purchase Series A Preferred Units of Blueknight Energy Partners, L.P.     Cusip 09625U117

Subscription Price: $6.50 per Series A Preferred Unit

 

THE SUBSCRIPTION RIGHTS WILL EXPIRE IF NOT EXERCISED ON OR BEFORE

5:00 P.M., NEW YORK CITY TIME, ON OCTOBER 31, 2011, UNLESS EXTENDED

REGISTERED 

         OWNER:

 

 

 

	
THIS CERTIFIES THAT the registered owner whose name is inscribed hereon is the owner of the number of transferable subscription rights (“Rights”) set forth above. Each whole Right entitles the holder thereof to subscribe for and purchase one Series A Preferred Unit of Blueknight Energy Partners, L.P., a Delaware limited partnership, at a subscription price of $6.50 per Series A Preferred Unit (the “Basic Subscription Right”),  pursuant  to  a  rights  offering  (the “Rights Offering”), on the terms and subject to the conditions set forth in the Prospectus and the “Instructions as to Use of Blueknight Energy Partners,
L.P. Subscription Rights Certificates” accompanying this Subscription Rights Certificate.   If any Series A Preferred Units available for purchase in the Rights Offering are not purchased by other holders of Rights pursuant to the exercise of their Basic Subscription Right (the “Excess Units”), any Rights holder that exercises its Basic

	
 

	
Subscription Right in full may subscribe for a number of Excess Units pursuant to the terms and conditions of the Rights Offering, subject to proration, as described in the Prospectus (the “Over-Subscription Right”).   The Rights represented by this Subscription Rights Certificate may be exercised by completing Form 1 and any other appropriate forms on the reverse side hereof and by returning the full payment of the subscription price for each Series A Preferred Unit in accordance with the “Instructions as to Use of Blueknight Energy Partners, L.P. Subscription Rights Certificates” that accompany this Subscription Rights Certificate.

	
 

	  	  	  	  
	
This Subscription Rights Certificate is not valid unless countersigned by the subscription agent and registered by the registrar.

	  	  	  	  
	
Witness the signatures of the duly authorized officers of Blueknight Energy Partners G.P., L.L.C., the general partner of Blueknight Energy Partners, L.P.

	  	  	  	  
	
Dated:

	  	  	  
	  	 	
 

	 
	  	
Chief Executive Officer

	
 

	
Chief Financial Officer and Secretary

 

  

  

  

DELIVERY OPTIONS FOR SUBSCRIPTION RIGHTS CERTIFICATE

 

Delivery other than in the manner or to the addresses listed below will not constitute valid delivery.

	
If delivering by hand:

American Stock Transfer & Trust Company, LLC

Attn: Reorganization Department

59 Maiden Lane

New York, New York 10038

	
If delivering by mail or overnight courier:

American Stock Transfer & Trust Company, LLC

Operations Center

Attn: Reorganization Department

6201 15th Avenue

Brooklyn, New York 11219

 

PLEASE PRINT ALL INFORMATION CLEARLY AND LEGIBLY.

 

FORM 1-EXERCISE OF SUBSCRIPTION RIGHTS

 

To subscribe for Series A Preferred Units pursuant to your Basic Subscription Right, please complete lines (a) and (c) and sign under Form 4 below.  To subscribe for Series A Preferred Units pursuant to your Over-Subscription Right, please also complete line (b) and sign under Form 4 below.  To the extent you subscribe for more Series A Preferred Units than you are entitled under either the Basic Subscription Right or the Over-Subscription Right, you will be deemed to have elected to purchase the maximum number of Series A Preferred Units for which you are entitled to subscribe under the Basic Subscription Right or Over-Subscription Right, as applicable.

 

(a) EXERCISE OF BASIC SUBSCRIPTION RIGHT:

 

	
I apply for

	  	
Series A Preferred Units

	
x $6.50

	
=

	
$ __________

	  	
(no. of new Series A Preferred Units)

	  	
(subscription Price)

	  	
(amount enclosed)

 

(b) EXERCISE OF OVER-SUBSCRIPTION RIGHT

 

If you have exercised your Basic Subscription Right in full and wish to subscribe for additional Series A Preferred Units pursuant to your Over-Subscription Right

 

(NOTE: ANY PRORATION FOR OVER-SUBSCRIPTION RIGHT WILL BE CALCULATED BASED ONLY ON THE NUMBER OF RIGHTS EXERCISED HEREIN PURSUANT TO THE HOLDER’S BASIC SUBSCRIPTION RIGHT AND WILL NOT INCLUDE ANY OTHER RIGHTS EXERCISED BY SUCH HOLDER):

 

	
I apply for

	  	
Series A Preferred Units

	
x $6.50

	
=

	
$ __________

	  	
(no. of new Series A Preferred Units)

	  	
(subscription Price)

	  	
(amount enclosed)

 

	
(c)

	Total Amount of Payment Enclosed =	
$_____________________________

	 	
 

	
 

	  	 	    (total at line (a) plus total at line (b))	 	  	
 

 

METHOD OF PAYMENT (CHECK ONE)

 

	
 ̈

	
Check or bank draft payable to “American Stock Transfer & Trust Company, LLC as Subscription Agent, FBO Blueknight Energy Partners, L.P.”

 

	
 ̈

	
Wire transfer of immediately available funds directly to the account maintained by American Stock Transfer & Trust Company, LLC, as Subscription Agent, for purposes of accepting subscriptions in this Rights Offering at JPMorgan Chase Bank, 55 Water Street, New York, New York 10005, ABA #021000021, Account # 530-354624 American Stock Transfer & Trust Company, LLC FBO Blueknight Energy Partners, L.P., with reference to the rights holder's name.

FORM  2-TRANSFER  TO  DESIGNATED  TRANSFEREE

 

To transfer your Rights to another person, complete this Form 2 and have your signature guaranteed under Form 5.

 

For value received ______________ of the Rights represented by this Subscription Rights Certificate are assigned to:

 

 

 

	
Social Security #

	 

 

	
Signature(s)

	 

 

IMPORTANT: The signature(s) must correspond with the name(s) as printed on the reverse of this Subscription Rights Certificate in every particular, without alteration or enlargement, or any other change whatsoever.

 

FORM 3-DELIVERY TO DIFFERENT ADDRESS

 

If you wish for the Series A Preferred Units into which your Rights are exercisable, acertificate representing unexercised Rights or the proceeds of any sale of Rights to be delivered to an address different from that shown on the face of this Subscription Rights Certificate, please enter the alternate address below, sign under Form 4 and have your signature guaranteed under Form 5.

 

________________________________________________________________

 

________________________________________________________________

 

________________________________________________________________

FORM 4-SIGNATURE

 

TO SUBSCRIBE: I acknowledge that I have received the Prospectus for this Rights Offering and I hereby irrevocably subscribe for the number of Series A Preferred Units indicated above on the terms and conditions specified in the Prospectus.

Signature(s): ______________________________________________________

 

IMPORTANT: The signature(s) must correspond with the name(s) as printed on the reverse of this Subscription Rights Certificate in every particular, without alteration or enlargement, or any other change whatsoever.

 

FORM 5-SIGNATURE GUARANTEE

 

This form must be completed if you have completed any portion of Forms 2 or 3.

 

	Signature Guaranteed:	
 

	 	
 

	
 

	 	 (Name of Bank or Firm)	 	  	
 

	 	 	 	 	 
	By: 	 	 	 	 
	 	 (Signature of Officer)	 	 	 

 

IMPORTANT:  The signature(s) should be guaranteed by an eligible guarantor institution (bank, stock broker, savings & loan association or credit union) with membership in an approved signature guarantee medallion program pursuant to Securities and Exchange Commission Rule 17Ad-15.

FOR INSTRUCTIONS ON THE USE OF BLUEKNIGHT ENERGY PARTNERS, L.P. SUBSCRIPTION RIGHTS CERTIFICATES, CONSULT PHOENIX ADVISORY PARTNERS, LLC THE INFORMATION AGENT, AT (877) 478-5038.exhibit4-3.htm

Exhibit 4.3

 

Certificate Evidencing Series A Preferred Units

Representing Limited Partner Interests in

Blueknight Energy Partners, L.P.

 

	
No. __________

	
__________ Series A Preferred Units

 

In accordance with Section 4.1 of the Fourth Amended and Restated Agreement of Limited Partnership of Blueknight Energy Partners, L.P., as amended, supplemented or restated from time to time (the “Partnership Agreement”), Blueknight Energy Partners, L.P., a Delaware limited partnership (the “Partnership”), hereby certifies that ___________ (the “Holder”) is the registered owner of ___________ Series A Preferred Units representing limited partner interests
in the Partnership (the “Series A Preferred Units”) transferable on the books of the Partnership, in person or by duly authorized attorney, upon surrender of this Certificate properly endorsed. The rights, preferences and limitations of the Series A Preferred Units are set forth in, and this Certificate and the Series A Preferred Units represented hereby are issued and shall in all respects be subject to the terms and provisions of, the Partnership Agreement. Copies of the Partnership Agreement are on file at, and will be furnished without charge on delivery of written request to the Partnership at, the principal office of the Partnership located at Two Warren Place, 6120 South Yale Avenue, Suite 500, Tulsa, Oklahoma 74136.
Capitalized terms used herein but not defined shall have the meanings given them in the Partnership Agreement.

 

THE HOLDER OF THIS SECURITY ACKNOWLEDGES FOR THE BENEFIT OF BLUEKNIGHT ENERGY PARTNERS, L.P. THAT THIS SECURITY MAY NOT BE SOLD, OFFERED, RESOLD, PLEDGED OR OTHERWISE TRANSFERRED IF SUCH TRANSFER WOULD (A) VIOLATE THE THEN APPLICABLE FEDERAL OR STATE SECURITIES LAWS OR RULES AND REGULATIONS OF THE SECURITIES AND EXCHANGE COMMISSION, ANY STATE SECURITIES COMMISSION OR ANY OTHER GOVERNMENTAL AUTHORITY WITH JURISDICTION OVER SUCH TRANSFER, (B) TERMINATE THE EXISTENCE OR QUALIFICATION OF BLUEKNIGHT ENERGY PARTNERS, L.P. UNDER THE LAWS OF THE STATE OF DELAWARE, OR (C) CAUSE BLUEKNIGHT ENERGY PARTNERS, L.P. TO BE TREATED AS AN ASSOCIATION TAXABLE AS A CORPORATION OR OTHERWISE TO BE TAXED AS AN ENTITY FOR FEDERAL INCOME
TAX PURPOSES (TO THE EXTENT NOT ALREADY SO TREATED OR TAXED). BLUEKNIGHT ENERGY PARTNERS, G.P., L.L.C., THE GENERAL PARTNER OF BLUEKNIGHT ENERGY PARTNERS, L.P., MAY IMPOSE ADDITIONAL RESTRICTIONS ON THE TRANSFER OF THIS SECURITY IF IT RECEIVES AN OPINION OF COUNSEL THAT SUCH RESTRICTIONS ARE NECESSARY TO AVOID A SIGNIFICANT RISK OF BLUEKNIGHT ENERGY PARTNERS, L.P. BECOMING TAXABLE AS A CORPORATION OR OTHERWISE BECOMING TAXABLE AS AN ENTITY FOR FEDERAL INCOME TAX PURPOSES. THE RESTRICTIONS SET FORTH ABOVE SHALL NOT PRECLUDE THE SETTLEMENT OF ANY TRANSACTIONS INVOLVING THIS SECURITY ENTERED INTO THROUGH THE FACILITIES OF ANY NATIONAL SECURITIES EXCHANGE ON WHICH THIS SECURITY IS LISTED OR ADMITTED TO TRADING.

 

 

  

  

 

  

 

The Holder, by accepting this Certificate, is deemed to have (i) requested admission as, and agreed to become, a Limited Partner and to have agreed to comply with and be bound by and to have executed the Partnership Agreement, (ii) represented and warranted that the Holder has all right, power and authority and, if an individual, the capacity necessary to enter into the Partnership Agreement, (iii) granted the powers of attorney provided for in the Partnership Agreement and (iv) made the waivers and given the consents and approvals contained in the Partnership Agreement.

 

This Certificate shall not be valid for any purpose unless it has been countersigned and registered by the Transfer Agent and Registrar.

 

	
Dated:

	  	  	
Blueknight Energy Partners, L.P.

	  	  	  	  	  
	  	  	  	
By:

	
Blueknight Energy Partners G.P., L.L.C.

	  	  	  	  	
its General Partner

	  	  	  	  	  
	  	  	  	
By:   

	  
	  	  	  	  	
President and Chief Executive Officer

	  	  	  	  	  
	  	  	  	
By:

	  
	  	  	  	  	
Secretary

	
Countersigned and Registered by:

	  	  	  
	  	  	  	  	  
	
American Stock Transfer & Trust Company

	  	  	  
	
as Transfer Agent and Registrar

	  	  	  
	  	  	  	  	  
	
By:

	  	  	  	  
	  	
Authorized Signature

	  	  	  

 

  

  

  

 

[Reverse of Certificate]

 

ABBREVIATIONS

 

The following abbreviations, when used in the inscription on the face of this Certificate, shall be construed as follows according to applicable laws or regulations:

 

	
TEN COM -

	
as tenants in common

	
UNIF GIFT/TRANSFERS MIN ACT

	
TEN ENT -

	
as tenants by the entireties

	
__________ Custodian _________

	  	  	
(Cust)                                (Minor)

	
JT TEN -

	
as joint tenants with right of survivorship and not as tenants in common

	
under Uniform Gifts/Transfers to CD Minors Act (State)

Additional abbreviations, though not in the above list, may also be used.

 

 

  

  

 

  

 

ASSIGNMENT OF SERIES A PREFERRED UNITS OF

 

BLUEKNIGHT ENERGY PARTNERS, L.P.

 

FOR VALUE RECEIVED, __________ hereby assigns, conveys, sells and transfers unto

	 	 	 
	 	 	 
	  	 	  
	
(Please print or typewrite name and address of assignee)

	 	
(Please insert Social Security or other identifying number of assignee)

__________ Series A Preferred Units representing limited partner interests evidenced by this Certificate, subject to the Partnership Agreement, and does hereby irrevocably constitute and appoint ________________ as its attorney-in-fact with full power of substitution to transfer the same on the books of Blueknight Energy Partners, L.P.

 

	
Date: ___________________________

	 	
NOTE:

	
The signature to any endorsement hereon must correspond with the name as written upon the face of this Certificate in every particular, without alteration, enlargement or change.

	
THE SIGNATURE(S) MUST BE GUARANTEED BY AN ELIGIBLE GUARANTOR INSTITUTION (BANKS, STOCKBROKERS, SAVINGS AND LOAN ASSOCIATIONS AND CREDIT UNIONS WITH MEMBERSHIP IN AN APPROVED SIGNATURE GUARANTEE MEDALLION PROGRAM), PURSUANT TO S.E.C. RULE 17Ad-15

	 	
 

	  
	 	 	
(Signature)

	 	 	  
	 	 	  
	 	 	
(Signature)

	 	
 

	
 

 

No transfer of the Series A Preferred Units evidenced hereby will be registered on the books of the Partnership, unless the Certificate evidencing the Series A Preferred Units to be transferred is surrendered for registration or transfer.

 

 

  

  

 

  

 

FORM OF SERIES A CONVERSION NOTICE

 

American Stock Transfer & Trust Company, LLC

(or such other office as may from time to time be designated)

Attn:

Re:          Blueknight Energy Partners, L.P.

Series A Preferred Units

 

As of the date written below, the undersigned hereby irrevocably elects to convert (the “Conversion”) the number of Series A Preferred Units specified below into Common Units of Blueknight Energy Partners, L.P. (as the same may be amended or restated from time to time, the “Partnership”) in accordance with the provisions of the Fourth Amended and Restated Agreement of Limited Partnership of the Partnership (the “Partnership Agreement”), such Conversion to be effective as of the date set forth in the Partnership Agreement. If Common Units are to be issued in the name of a person other than the undersigned, the undersigned will pay
all transfer taxes payable with respect thereto and is delivering herewith such certificates. No fee will be charged to the holder for any conversion, except for transfer taxes, if any. A copy of each Series A Preferred Unit certificate is attached hereto (or evidence of loss, theft or destruction thereof).

 

           The Partnership is not required to issue Common Units until the original Series A Preferred Unit certificate(s) (or evidence of loss, theft or destruction thereof) to be converted are received by the Partnership or its Transfer Agent. The Partnership shall issue and deliver the Common Units in a manner consistent with the Partnership Agreement.

 

           Terms used but not defined herein shall have the meanings ascribed thereto in the Partnership Agreement.

 

	
Date of Election

	  
	
Number of Series A Preferred Units to be converted

	  
	
Certificate number(s) of Series A Preferred Units to be converted

	  
	
Number of Common Units to be issued

	  
	
Name(s) in which the Partnership should issue the certificate(s) for Common Units

	  
	
Address where the Partnership should send Common Unit certificate(s) and any other payments or certificates

	  
	
Fax number of holder

	  
	
Social Security or other taxpayer identification number of holder

	  

 

	
Dated:

	  	  
	
By:

	 
	  	
Name: 

 

NOTICE: The above signatures of the holder(s) hereof must correspond with the registered name of the holder in every particular without alteration or enlargement or any change whatever.

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