Document:

exv4w1

 

Exhibit 4.1

 

 

REGISTRATION RIGHTS AGREEMENT

BY AND AMONG

COPANO ENERGY, L.L.C.

AND

CIMMARRON GATHERING GP, LLC,

TAOS GATHERING, LP

AND

CIMMARRON TRANSPORTATION, LLC

 

 

 

 

REGISTRATION RIGHTS AGREEMENT

     THIS REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and entered into as of
May 1, 2007, by and among Copano Energy, L.L.C., a Delaware limited liability company
(“Copano”), and Cimmarron Gathering GP, LLC, Taos Gathering, LP and Cimmarron
Transportation, LLC (each a “Contributor” and collectively, the “Contributors”).

     WHEREAS, this Agreement is made in connection with the issuance to the Contributors of the
Class C Units pursuant to the Contribution Agreement, dated as of April 5, 2007, by and among
Copano and the Contributors (the “Contribution Agreement”);

     WHEREAS, Copano has agreed to provide the registration and other rights set forth in this
Agreement for the benefit of the Contributors pursuant to the Contribution Agreement; and

     WHEREAS, it is a condition to the obligations of each Contributor under the Contribution
Agreement that this Agreement be executed and delivered.

     NOW THEREFORE, in consideration of the mutual covenants and agreements set forth herein and
for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by
each party hereto, the parties hereby agree as follows:

ARTICLE I

DEFINITIONS

     Section 1.01 Definitions. Capitalized terms used herein without definition shall have
the meanings given to them in the Contribution Agreement. The terms set forth below are used
herein as so defined:

     “Affiliate” means, with respect to any Person, any other Person that, directly or
indirectly, through one or more intermediaries, controls, is controlled by, or is under common
control with, such Person. For the purposes of this definition, “control” means, when used with
respect to any Person, the possession, directly or indirectly, of the power to direct or cause the
direction of the management and policies of such Person, whether through the ownership of voting
securities, by contract, or otherwise, and the terms “controlling” and “controlled” have
correlative meanings.

     “Agreement” has the meaning specified in the introductory paragraph.

     “Copano” has the meaning specified in the introductory paragraph.

     “Copano Delay Notice” has the meaning specified in Section 2.01(c) hereof.

     “Class C Units” means units representing equity interests in Copano designated as
Class C Units under the Copano LLC Agreement and having the rights and obligations specified
therein with respect to Class C Units.

     “Commission” means the Securities and Exchange Commission or any successor agency
having jurisdiction under the Securities Act.

     “Common Units” has the meaning specified in the Copano LLC Agreement.

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     “Contribution Agreement” has the meaning specified therefor in the Recitals of this
Agreement.

     “Contributor” and “Contributors” have the meanings specified therefor in the
introductory paragraph of this Agreement.

     “Demand Notice” has the meaning set forth in Section 2.01(a) hereof.

     “Demand Registration” has the meaning set forth in Section 2.01(a) hereof.

     “Exchange Act” means the Securities Exchange Act of 1934, as amended, and any
successor statute thereto and the rules and regulations of the Commission promulgated thereunder.

     “Person” means any individual, corporation, limited liability company, partnership,
joint venture, association, joint stock company, trust, enterprise or unincorporated organization.

     “Holder” means the record holder of any Registrable Securities.

     “Included Registrable Securities” has the meaning specified therefor in Section
2.02(a) of this Agreement.

     “Losses” has the meaning specified therefor in Section 2.08(a) of this
Agreement.

     “Managing Underwriter” means, with respect to any Underwritten Offering, the
book-running lead manager of such Underwritten Offering.

     “Prospectus” shall mean the prospectus included in any Registration Statement
(including, without limitation, a prospectus that discloses information previously omitted from a
prospectus filed as part of an effective Registration Statement in reliance upon Rule 430A
promulgated under the Securities Act), as amended or supplemented by any prospectus supplement,
with respect to the terms of the offering of any portion of the Registrable Securities covered by
such Registration Statement, and all other amendments and supplements to the Prospectus, including,
without limitation, post-effective amendments, and all material incorporated by reference or deemed
to be incorporated by reference in such Prospectus.

     “Registrable Securities” means, collectively, each Common Unit underlying the Class C
Units issued pursuant to the Contribution Agreement provided that such Common Unit is held by a
Contributor (or its permitted assignee pursuant to Section 2.10), all of which Registrable
Securities are subject to the rights provided herein until such rights terminate pursuant to the
provisions hereof.

     “Registration Expenses” has the meaning specified therefor in Section 2.07(a)
of this Agreement.

     “Registration Statement” means a registration statement of Copano under the Securities
Act which permits the public offering of any of the Registrable Securities pursuant to the
provisions of this Agreement, including, without limitation, the Prospectus, amendments and
supplements to such registration statement, including post-effective amendments, all exhibits and

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all material incorporated by reference or deemed to be incorporated by reference in such
registration statement.

     “Rule 144” means Rule 144 under the Securities Act, as such Rule may be amended from
time to time, or any similar rule or regulation hereafter adopted by the Commission.

     “Securities Act” means the Securities Act of 1933, as amended, and any successor
statute thereto and the rules and regulations of the Commission promulgated thereunder.

     “Selling Expenses” has the meaning specified therefor in Section 2.07(a) of
this Agreement.

     “Selling Holder” means a Holder who is selling Registrable Securities pursuant to a
Registration Statement.

     “Shelf Registration Statement” means a registration statement under the Securities Act
to permit the resale of the Registrable Securities from time to time, including as permitted by
Rule 415 of the Securities Act (or any similar provision then in force under the Securities Act).

     “Underwritten Offering” means an offering in which Common Units are sold to an
underwriter on a firm commitment basis for reoffering to the public or an offering that is a
“bought deal” with one or more investment banks.

     Section 1.02 Registrable Securities. Any Registrable Security will cease to be a
Registrable Security when (a) a registration statement covering such Registrable Security has been
declared effective by the Commission, or is automatically effective upon filing, and such
Registrable Security has been sold or disposed of pursuant to such effective registration
statement; (b) such Registrable Security has been disposed of pursuant to any section of Rule 144
(or any similar provision then in force) under the Securities Act; (c) such Registrable Security is
held by Copano or one of its subsidiaries; (d) such Registrable Security has been transferred in a
private transaction in which the transferor’s rights under this Agreement are not assigned to the
transferee of such securities; or (e) such Registrable Security becomes eligible for resale
pursuant to Rule 144(k) (or any similar provisions then in force).

ARTICLE II

REGISTRATION RIGHTS

     Section 2.01 Demand Registration.

               (a) Requests for Registration. Subject to the limits set forth herein, the
Contributors shall have the right by delivering a written notice to Copano (a “Demand
Notice”) to require Copano to register, pursuant to the terms of this Agreement under and in
accordance with the provisions of the Securities Act, the number of Registrable Securities
requested to be so registered pursuant to the terms of this Agreement provided that the sale of
such Registrable Securities is reasonably expected to result in aggregate gross cash proceeds in
excess of ten million dollars ($10,000,000) (a “Demand Registration”).

          Following receipt of a Demand Notice for a Demand Registration, Copano shall use its
reasonable commercial efforts to file a Shelf Registration Statement within 60 days of

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receipt of a Demand Notice, and, if such Shelf Registration Statement is not automatically
effective upon filing, shall use its reasonable commercial efforts to cause such Registration
Statement to be declared effective under the Securities Act as promptly as practicable after the
filing thereof.

          The Contributors shall be entitled to one Demand Registration; provided that no Demand
Registration shall be exercised unless such Demand Registration is agreed to by the Holders of a
majority of the outstanding Registrable Securities. No Demand Registration shall be deemed to have
occurred for purposes of this Section 2.01 if the Shelf Registration Statement relating
thereto (i) does not become effective, (ii) is not maintained effective for the period required
pursuant to this Section 2.01(a) or (iii) the offering of the Registrable Securities
pursuant to such Shelf Registration Statement is subject to a stop order, injunction or similar
order or requirement of the Commission during such period. In the case of each of clauses (i),
(ii) and (iii), the Contributors shall be entitled to an additional Demand Registration.

          Any request made pursuant to this Section 2.01 will specify the amount of Registrable
Securities to be registered and the intended methods of disposition thereof.

          Copano shall be required to maintain the effectiveness of the Shelf Registration Statement
with respect to any Demand Registration until all Registrable Securities included in such Shelf
Registration Statement have actually been sold or there are no longer any Registrable Securities
outstanding.

               (b) Priority on Demand Registration. If any of the Registrable Securities registered
pursuant to a Demand Registration are to be sold in an Underwritten Offering pursuant to
Section 2.03, and the Managing Underwriter or underwriters advise the holders of such
securities that in its or their view the total number or dollar amount of Registrable Securities
proposed to be sold in such offering is such as to adversely affect the success of such offering
(including, without limitation, securities proposed to be included by other holders of securities
entitled to include securities in such offering pursuant to incidental or piggyback registration
rights), then the number of Registrable Securities that in the opinion of such Managing Underwriter
can be sold without adversely affecting such offering shall first include Registrable Securities
requested to be included by the Contributors, pro rata based on the number of Registrable
Securities requested to be included by each Contributor and, only if all such Registrable
Securities are included, thereafter may include any other securities proposed to be included.

               (c) Delay Rights. Notwithstanding anything to the contrary contained herein,
Copano: (i) may delay its obligation to file any Shelf Registration Statement if (A) within 30 days
of receipt of a Demand Notice, Copano notifies (the “Copano Delay Notice”) the Contributors
of Copano’s intention of effecting a public offering within 60 days, provided, that prior to the
receipt of such request, Copano has taken affirmative steps in contemplation of such public
offering, (B) Copano is pursuing an acquisition, merger, reorganization, disposition or other
similar transaction and Copano determines in good faith that Copano’s ability to pursue or
consummate such a transaction would be materially adversely affected by any required disclosure of
such transaction in the Shelf Registration Statement, or (C) Copano has experienced some other
material non-public event the disclosure of which at such time is not required by law or, in the
good faith judgment of Copano, would materially adversely affect

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Copano, then, in each case, Copano may defer filing the Shelf Registration Statement for up to
60 days from receipt of the Copano Delay Notice; provided, however, that Copano shall not exercise
its right to delay filing the Shelf Registration Statement more than once in any 12 month period;
(ii) may, upon written notice to any Contributor whose Registrable Securities are included in the
Shelf Registration Statement, suspend such Contributor’s use of any Prospectus which is a part of
the Shelf Registration Statement (in which event the Contributor shall discontinue sales of the
Registrable Securities pursuant to the Shelf Registration Statement) for up to 60 days from receipt
of such notice if (A) Copano is pursuing an acquisition, merger, reorganization, disposition or
other similar transaction and Copano determines in good faith that Copano’s ability to pursue or
consummate such a transaction would be materially adversely affected by any required disclosure of
such transaction in the Shelf Registration Statement or (B) Copano has experienced some other
material non-public event the disclosure of which at such time is not required by law or, in the
good faith judgment of Copano, would materially adversely affect Copano; provided, however, that
Copano shall not exercise its right to suspend any Contributor’s use of any Prospectus more than
twice in any 12-month period. Upon disclosure of such information or the termination of the
condition described in this Section 2.01(c), Copano shall provide prompt notice to the
Contributors whose Registrable Securities are included in the Shelf Registration Statement, and
shall promptly terminate any suspension of sales it has put into effect and shall take such other
actions to permit registered sales of Registrable Securities as contemplated in this Agreement.

     Section 2.02 Piggyback Rights.

     (a) Participation. If at any time Copano proposes to file (i) a prospectus supplement
to an effective “shelf” registration statement, or (ii) a registration statement, other than a
“shelf” registration statement, in either case, for the sale of Common Units in an Underwritten
Offering for its own account and/or another Person, then as soon as practicable but not less than
three (3) Business Days prior to the filing of (x) any preliminary prospectus supplement relating
to such Underwritten Offering pursuant to Rule 424(b), (y) the prospectus supplement relating to
such Underwritten Offering pursuant to Rule 424(b) (if no preliminary prospectus supplement is
used) or (z) such registration statement as the case may be, then, Copano shall give notice of such
proposed Underwritten Offering to the Holders and such notice shall offer the Holders the
opportunity to include in such Underwritten Offering such number of Registrable Securities (the
“Included Registrable Securities”) as each such Holder may request in writing; provided,
however, that if Copano has been advised by the Managing Underwriter that the inclusion of
Registrable Securities for sale for the benefit of the Holders will adversely affect the price,
timing or distribution of the Common Units, then the amount of Registrable Securities to be offered
for the accounts of Holders shall be determined based on the provisions of Section 2.02(b).
Each Holder shall then have three (3) Business Days after receipt the notice to request inclusion
of Registrable Securities in the Underwritten Offering, except that each Holder shall have one (1)
Business Day after receipt of the notice to request inclusion of Registrable Securities in the
Underwritten Offering in the case of a “bought deal” or “overnight transaction”. If no request for
inclusion from a Holder is received within the specified time, such Holder shall have no further
right to participate in such Underwritten Offering. If, at any time after giving written notice of
its intention to undertake an Underwritten Offering and prior to the closing of such Underwritten
Offering, Copano shall determine for any reason not to undertake or to delay such Underwritten
Offering, Copano may, at its election, give written notice of such determination to the Selling
Holders and, (x) in the case of a determination not to undertake such

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Underwritten Offering, shall be relieved of its obligation to sell any Included Registrable
Securities in connection with such terminated Underwritten Offering, and (y) in the case of a
determination to delay such Underwritten Offering, shall be permitted to delay offering any
Included Registrable Securities for the same period as the delay in the Underwritten Offering. Any
Selling Holder shall have the right to withdraw such Selling Holder’s request for inclusion of such
Selling Holder’s Registrable Securities in such offering by giving written notice to Copano of such
withdrawal up to and including the time of pricing such offering.

     (b) Priority of Piggyback Rights. If the Managing Underwriter or underwriters of any
proposed Underwritten Offering of Common Units included in an Underwritten Offering involving
Included Registrable Securities advises Copano that the total amount of Common Units that the
Selling Holders and any other Persons intend to include in such offering exceeds the number that
can be sold in such offering without being likely to have an adverse effect on the price, timing or
distribution of the Common Units offered or the market for the Common Units, then the Common Units
to be included in such Underwritten Offering shall include the number of Registrable Securities
that such Managing Underwriter or Underwriters advises Copano can be sold without having such
adverse effect, with such number to be allocated (i) first, to Copano; (ii) second, to Copano’s
pre-IPO investors as provided in (A) the Stakeholders’ Agreement dated July 30, 2004, and (B)
Article XIV of the Copano LLC Agreement; and (iii) third, pro rata among (A) those party to that
certain Registration Rights Agreement dated December 29, 2005 by and among Copano and the
purchasers named therein who have requested participation in such Underwritten Offering, (B) those
party to that certain Registration Rights Agreement dated August 1, 2005, by and among Copano and
the purchasers named therein who have requested participation in such Underwritten Offering, and
(C) the Selling Holders party to this Agreement, based, for each such party and each Selling
Holder, on the fraction derived by dividing (x) the number of Common Units proposed to be sold by
such party or Selling Holder in such Underwritten Offering by (y) the aggregate number of Common
Units proposed to be sold by all such parties and all Selling Holders in such Underwritten Offering
pursuant to this clause (iii). As of the date of execution of this Agreement, there are no other
Persons with Registration Rights other than as described in this Section 2.02(b).

     Section 2.03 Underwritten Offering.

     (a) Demand Registration. If a Selling Holder elects in a Demand Registration to
dispose of Registrable Securities under the Shelf Registration Statement pursuant to an
Underwritten Offering and reasonably anticipates gross proceeds of greater than twenty million
dollars ($20,000,000) from such Underwritten Offering, Copano shall, at the request of such Selling
Holder, enter into an underwriting agreement in customary form with the Managing Underwriter or
underwriters, which shall include, among other provisions, indemnities to the effect and to the
extent provided in Section 2.08, and shall take all such other reasonable actions as are
requested by the Managing Underwriter to expedite or facilitate the disposition of the Registrable
Securities; provided, however, Copano management will not be required to participate in any
roadshow or similar marketing effort on behalf of any Selling Holder.

     (b) General Procedures. In connection with any Underwritten Offering under this
Agreement, Copano shall be entitled to select the Managing Underwriter or underwriters. In
connection with an Underwritten Offering under Section 2.03 hereof, each Selling Holder and
Copano shall be obligated to enter into an underwriting agreement that contains such

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representations, covenants, indemnities and other rights and obligations as are customary in
underwriting agreements for firm commitment offerings of securities. No Selling Holder may
participate in such Underwritten Offering unless such Selling Holder agrees to sell its Registrable
Securities on the basis provided in such underwriting agreement and completes and executes all
questionnaires, powers of attorney, indemnities and other documents reasonably required under the
terms of such underwriting agreement. Each Selling Holder may, at its option, require that any or
all of the representations and warranties by, and the other agreements on the part of, Copano to
and for the benefit of such underwriters also be made to and for such Selling Holder’s benefit and
that any or all of the conditions precedent to the obligations of such underwriters under such
underwriting agreement also be conditions precedent to its obligations. No Selling Holder shall be
required to make any representations or warranties to or agreements with Copano or the underwriters
other than representations, warranties or agreements regarding such Selling Holder and its
ownership of the securities being registered on its behalf and its intended method of distribution
and any other representation required by law. If any Selling Holder disapproves of the terms of an
underwriting, such Selling Holder may elect to withdraw therefrom by notice to Copano and the
Managing Underwriter; provided, however, that such withdrawal must be made prior to the time in the
last sentence of Section 2.02(a) hereof to be effective. No such withdrawal or abandonment
shall affect Copano’s obligation to pay Registration Expenses.

     Section 2.04 Sale Procedures. In connection with its obligations contained in
Section 2.01 and Section 2.03, Copano will, as expeditiously as possible:

     (a) prepare and file with the Commission such amendments and supplements to the Registration
Statement and the Prospectus used in connection therewith as may be necessary to keep the Shelf
Registration Statement effective for the period set forth in Section 2.01(a) and as may be
necessary to comply with the provisions of the Securities Act with respect to the disposition of
all securities covered by the Shelf Registration Statement;

     (b) furnish to each Selling Holder (i) as far in advance as reasonably practicable before
filing the Shelf Registration Statement or any other registration statement contemplated by this
Agreement or any supplement or amendment thereto, upon request, copies of reasonably complete
drafts of all such documents proposed to be filed (including exhibits and each document
incorporated by reference therein to the extent then required by the rules and regulations of the
Commission), and provide each such Selling Holder the opportunity to object to any information
pertaining to such Selling Holder and its plan of distribution that is contained therein and make
the corrections reasonably requested by such Selling Holder with respect to such information prior
to filing the Shelf Registration Statement or such other registration statement or supplement or
amendment thereto, and (ii) such number of copies of the Shelf Registration Statement or such other
registration statement and the Prospectus included therein and any supplements and amendments
thereto as such Persons may reasonably request in order to facilitate the public sale or other
disposition of the Registrable Securities covered by such Shelf Registration Statement or other
registration statement;

     (c) if applicable, use its commercially reasonable efforts to register or qualify the
Registrable Securities covered by the Shelf Registration Statement or any other registration
statement contemplated by this Agreement under the securities or blue sky laws of such
jurisdictions as the Selling Holders or, in the case of an Underwritten Offering, the Managing

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Underwriter, shall reasonably request and keep such registration or qualification in effect
for as long as the Shelf Registration Statement or other registration statement remains in effect;
provided, however, that Copano will not be required to qualify generally to transact business in
any jurisdiction where it is not then required to so qualify or to take any action which would
subject it to general service of process in any such jurisdiction where it is not then so subject;

     (d) promptly notify each Selling Holder and each underwriter, at any time when a Prospectus
relating thereto is required to be delivered under the Securities Act, of (i) the filing of the
Shelf Registration Statement or any other registration statement contemplated by this Agreement or
any Prospectus or prospectus supplement to be used in connection therewith, or any amendment or
supplement thereto, and, with respect to such Shelf Registration Statement or any other
registration statement or any post-effective amendment thereto, when the same has become effective
(unless it is effective upon filing); and (ii) any written comments from the Commission with
respect to any filing referred to in clause (i) and any written request by the Commission for
amendments or supplements to the Shelf Registration Statement or any other registration statement
or any Prospectus or prospectus supplement thereto;

     (e) immediately notify each Selling Holder and each underwriter, at any time when a Prospectus
relating thereto is required to be delivered under the Securities Act, of (i) the happening of any
event as a result of which the Prospectus or prospectus supplement contained in the Shelf
Registration Statement or any other registration statement contemplated by this Agreement, as then
in effect, includes an untrue statement of a material fact or omits to state any material fact
required to be stated therein or necessary to make the statements therein not misleading in the
light of the circumstances then existing; (ii) the issuance or threat of issuance by the Commission
of any stop order suspending the effectiveness of the Shelf Registration Statement or any other
registration statement contemplated by this Agreement, or the initiation of any proceedings for
that purpose; or (iii) the receipt by Copano of any notification with respect to the suspension of
the qualification of any Registrable Securities for sale under the applicable securities or blue
sky laws of any jurisdiction. Following the provision of such notice, Copano agrees to as promptly
as practicable amend or supplement the Prospectus or prospectus supplement or take other
appropriate action so that the Prospectus or prospectus supplement does not include an untrue
statement of a material fact or omit to state a material fact required to be stated therein or
necessary to make the statements therein not misleading in the light of the circumstances then
existing and to take such other action as is necessary to remove a stop order, suspension, threat
thereof or proceedings related thereto;

     (f) upon request and subject to appropriate confidentiality obligations, furnish to each
Selling Holder copies of any and all transmittal letters or other correspondence with the
Commission or any other governmental agency or self-regulatory body or other body having
jurisdiction (including any domestic or foreign securities exchange) relating to such offering of
Registrable Securities;

     (g) in the case of an Underwritten Offering, upon request, (i) furnish opinions of counsel of
Copano and a negative assurance letter of counsel to Copano and updates thereof covering the
matters customarily covered in opinions and negative assurance letters requested in underwritten
offerings and such other matters as may be reasonably requested by the underwriters, and (ii)
obtain “cold comfort” letters and updates thereof from the independent certified public accountants
of Copano (and, if necessary, any other independent certified public

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accountants of any subsidiary of Copano or of any business acquired by Copano for which
financial statements and financial data are, or are required to be, included in the Shelf
Registration Statement) who have certified the financial statements included in such Shelf
Registration Statement, such letters to be in customary form and covering matters of the type
customarily covered in “cold comfort” letters in connection with underwritten offerings and such
other matters as may reasonably be requested by the underwriters;

     (h) otherwise use its commercially reasonable efforts to comply with all applicable rules and
regulations of the Commission, and make available to its security holders, as soon as reasonably
practicable, an earnings statement, which earnings statement shall satisfy the provisions of
Section 11(a) of the Securities Act and Rule 158 promulgated thereunder;

     (i) make available to the appropriate representatives of the Managing Underwriter and Selling
Holders access to such information and Copano personnel as is reasonable and customary to enable
such parties to establish a due diligence defense under the Securities Act; provided, however, that
Copano need not disclose any information to any such representative unless and until such
representative has entered into a confidentiality agreement with Copano;

     (j) cause all such Registrable Securities registered pursuant to this Agreement to be listed
on each securities exchange or nationally recognized quotation system on which similar securities
issued by Copano are then listed;

     (k) use its commercially reasonable efforts to cause the Registrable Securities to be
registered with or approved by such other governmental agencies or authorities as may be necessary
by virtue of the business and operations of Copano to enable the Selling Holders to consummate the
disposition of such Registrable Securities;

     (l) provide a transfer agent and registrar for all Registrable Securities covered by such
Shelf Registration Statement not later than the effective date of such Shelf Registration
Statement; and

     (m) enter into customary agreements and take such other actions as are reasonably requested by
the Selling Holders or the underwriters, if any, in order to expedite or facilitate the disposition
of such Registrable Securities.

     Each Selling Holder, upon receipt of notice from Copano of the happening of any event of the
kind described in subsection (e) of this Section 2.04, shall forthwith discontinue
disposition of the Registrable Securities until such Selling Holder’s receipt of the copies of the
supplemented or amended prospectus contemplated by subsection (e) of this Section 2.04 or
until it is advised in writing by Copano that the use of the Prospectus may be resumed, and has
received copies of any additional or supplemental filings incorporated by reference in the
Prospectus, and, if so directed by Copano, such Selling Holder will, or will request the Managing
Underwriter or underwriters, if any, to deliver to Copano (at Copano’s expense) all copies in their
possession or control, other than permanent file copies then in such Selling Holder’s possession,
of the Prospectus covering such Registrable Securities current at the time of receipt of such
notice.

     Section 2.05 Cooperation by Holders. Copano shall have no obligation to include in
the Shelf Registration Statement units of a Holder or in a Underwritten Offering pursuant to

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Section 2.02 or Section 2.03 units of a Selling Holder who has failed to
timely furnish such information that, in the opinion of counsel to Copano, is reasonably required
in order for the Registration Statement or prospectus supplement, as applicable, to comply with the
Securities Act.

     Section 2.06 Restrictions on Public Sale by Holders of Registrable Securities. Each
Holder of Registrable Securities who is included in a Registration Statement agrees not to effect
any public sale or distribution of the Registrable Securities during the 30 calendar day period
following completion of a public offering of equity securities by Copano except as specifically
provided herein; provided, however, (i) that the duration of the foregoing restrictions shall be no
longer than the duration of the shortest restriction generally imposed by the underwriters on the
officers or directors or any other unitholder of Copano on whom a restriction is imposed and (ii)
the restrictions contained in this Section 2.06 shall not prevent a Holder from selling
during such 30 calendar day period an aggregate of the lesser of a number of Common Units equal to
(a) Copano’s average weekly trading volume over the prior four trading weeks on the Nasdaq National
Market or other applicable exchange or (b) one percent of Copano’s outstanding Common Units
measured as of the date of such sale and, provided further, that if a Holder has submitted a notice
to request inclusion in an Underwritten Offering pursuant to Section 2.02(a) but is unable
to sell any of such Common Units as a result of the priority provisions contained in Section
2.02(b), then such Holder shall not be subject to the restrictions contained in this
Section 2.06.

     Section 2.07 Expenses.

     (a) Certain Definitions. “Registration Expenses” means all expenses incident
to Copano’s performance under or compliance with this Agreement to effect the registration of
Registrable Securities the Shelf Registration Statement pursuant to Section 2.01, an
Underwritten Offering pursuant to Section 2.02 or Section 2.03, and the disposition
of such securities, including, without limitation, all registration, filing, securities exchange
listing and The Nasdaq National Market fees, all registration, filing, qualification and other fees
and expenses of complying with securities or blue sky laws, fees of the National Association of
Securities Dealers, Inc., transfer taxes and fees of transfer agents and registrars, all word
processing, duplicating and printing expenses, the fees and disbursements of counsel and
independent public accountants for Copano, including the expenses of any special audits or “cold
comfort” letters required by or incident to such performance and compliance. Except as otherwise
provided in Section 2.08 hereof, Copano shall not be responsible for legal fees incurred by
Holders in connection with the exercise of such Holders’ rights hereunder. In addition, Copano
shall not be responsible for any “Selling Expenses,” which means all underwriting fees,
discounts and selling commissions allocable to the sale of the Registrable Securities.

     (b) Expenses. Copano will pay all reasonable Registration Expenses as determined in
good faith, including, in the case of an Underwritten Offering, whether or not any sale is made
pursuant to such Underwritten Offering. Each Selling Holder shall pay all Selling Expenses in
connection with any sale of its Registrable Securities hereunder.

     Section 2.08 Indemnification.

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     (a) By Copano. In the event of a registration of any Registrable Securities under the
Securities Act pursuant to this Agreement, Copano will indemnify and hold harmless each Selling
Holder thereunder, its directors, officers, employees and agents, and each underwriter, pursuant to
the applicable underwriting agreement with such underwriter, of Registrable Securities thereunder
and each Person, if any, who controls such Selling Holder or underwriter within the meaning of the
Securities Act and the Exchange Act, against any losses, claims, damages, expenses or liabilities
(including reasonable attorneys’ fees and expenses) (collectively, “Losses”), joint or
several, to which such Selling Holder, its directors, officers, employees or agents, or any
underwriter or controlling Person may become subject under the Securities Act, the Exchange Act or
otherwise, insofar as such Losses (or actions or proceedings, whether commenced or threatened, in
respect thereof) arise out of or are based upon any untrue statement or alleged untrue statement of
any material fact contained in the Shelf Registration Statement or any other registration statement
contemplated by this Agreement, any preliminary prospectus or final prospectus contained therein,
or any amendment or supplement thereof, or arise out of or are based upon the omission or alleged
omission to state therein a material fact required to be stated therein or necessary to make the
statements therein (in the case of a prospectus, in light of the circumstances under which they
were made) not misleading, and will reimburse each such Selling Holder, its directors, officers,
employees or agents, or any underwriter or controlling Person for any legal or other expenses
reasonably incurred by them in connection with investigating or defending any such Loss or actions
or proceedings; provided, however, that Copano will not be liable in any such case if and to the
extent that any such Loss arises out of or is based upon an untrue statement or alleged untrue
statement or omission or alleged omission so made in conformity with information furnished by such
Selling Holder, its directors, officers, employees or agents, or any underwriter or controlling
Person in writing specifically for use in the Shelf Registration Statement or such other
registration statement, or prospectus supplement, as applicable. Such indemnity shall remain in
full force and effect regardless of any investigation made by or on behalf of such Selling Holder,
its directors, officers, employees or agents, or any underwriter or controlling Person, and shall
survive the transfer of such securities by such Selling Holder.

     (b) By Each Selling Holder. Each Selling Holder agrees severally and not jointly to
indemnify and hold harmless Copano, its directors, officers, employees and agents, and each Person,
if any, who controls Copano within the meaning of the Securities Act or of the Exchange Act to the
same extent as the foregoing indemnity from Copano to the Selling Holders, but only with respect to
information regarding such Selling Holder furnished in writing by or on behalf of such Selling
Holder expressly for inclusion in the Registration Statement or prospectus supplement relating to
the Registrable Securities, or any amendment or supplement thereto; provided, however, that the
liability of each Selling Holder shall not be greater in amount than the dollar amount of the
proceeds (net of any Selling Expenses) received by such Selling Holder from the sale of the
Registrable Securities giving rise to such indemnification.

     (c) Notice. Promptly after receipt by an indemnified party hereunder of notice of the
commencement of any action, such indemnified party shall, if a claim in respect thereof is to be
made against the indemnifying party hereunder, notify the indemnifying party in writing thereof,
but the omission so to notify the indemnifying party shall not relieve it from any liability which
it may have to any indemnified party other than under this Section 2.08. In any action
brought against any indemnified party, it shall notify the indemnifying party of the commencement
thereof. The indemnifying party shall be entitled to participate in and, to the extent it shall
wish,

12

 

to assume and undertake the defense thereof with counsel reasonably satisfactory to such
indemnified party and, after notice from the indemnifying party to such indemnified party of its
election so to assume and undertake the defense thereof, the indemnifying party shall not be liable
to such indemnified party under this Section 2.08 for any legal expenses subsequently
incurred by such indemnified party in connection with the defense thereof other than reasonable
costs of investigation and of liaison with counsel so selected; provided, however, that, (i) if the
indemnifying party has failed to assume the defense and employ counsel reasonably acceptable to the
indemnified party or (ii) if the defendants in any such action include both the indemnified party
and the indemnifying party and counsel to the indemnified party shall have concluded that there may
be reasonable defenses available to the indemnified party that are different from or additional to
those available to the indemnifying party, or if the interests of the indemnified party reasonably
may be deemed to conflict with the interests of the indemnifying party, then the indemnified party
shall have the right to select a separate counsel and to assume such legal defense and otherwise to
participate in the defense of such action, with the reasonable expenses and fees of such separate
counsel and other reasonable expenses related to such participation to be reimbursed by the
indemnifying party as incurred. Notwithstanding any other provision of this Agreement, no
indemnified party shall settle any action brought against it with respect to which it is entitled
to indemnification hereunder without the consent of the indemnifying party, unless the settlement
thereof imposes no liability or obligation on, and includes a complete and unconditional release
from all liability of, the indemnifying party.

     (d) Contribution. If the indemnification provided for in this Section 2.08 is
held by a court or government agency of competent jurisdiction to be unavailable to any indemnified
party or is insufficient to hold them harmless in respect of any Losses, then each such
indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount
paid or payable by such indemnified party as a result of such Loss in such proportion as is
appropriate to reflect the relative fault of the indemnifying party on the one hand and of such
indemnified party on the other in connection with the statements or omissions which resulted in
such Losses, as well as any other relevant equitable considerations; provided, however, that in no
event shall a Selling Holder be required to contribute an aggregate amount in excess of the dollar
amount of proceeds (net of Selling Expenses) received by such Selling Holder from the sale of
Registrable Securities giving rise to such indemnification. The relative fault of the indemnifying
party on the one hand and the indemnified party on the other shall be determined by reference to,
among other things, whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact has been made by, or relates to, information
supplied by such party, and the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission. The parties hereto agree that it
would not be just and equitable if contributions pursuant to this paragraph were to be determined
by pro rata allocation or by any other method of allocation which does not take account of the
equitable considerations referred to herein. The amount paid by an indemnified party as a result
of the Losses referred to in the first sentence of this paragraph shall be deemed to include any
legal and other expenses reasonably incurred by such indemnified party in connection with
investigating or defending any Loss which is the subject of this paragraph. No person guilty of
fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be
entitled to contribution from any Person who is not guilty of such fraudulent misrepresentation.

13

 

     (e) Other Indemnification. The provisions of this Section 2.08 shall be in
addition to any other rights to indemnification or contribution which an indemnified party may have
pursuant to law, equity, contract or otherwise.

     Section 2.09 Rule 144 Reporting. With a view to making available the benefits of
certain rules and regulations of the Commission that may permit the sale of the Registrable
Securities to the public without registration, Copano agrees to use its commercially reasonable
efforts to:

     (a) Make and keep public information regarding Copano available, as those terms are understood
and defined in Rule 144 under the Securities Act, at all times from and after the date hereof;

     (b) File with the Commission in a timely manner all reports and other documents required of
Copano under the Securities Act and the Exchange Act at all times from and after the date hereof;
and

     (c) So long as a Holder owns any Registrable Securities, furnish to such Holder forthwith upon
request a copy of the most recent annual or quarterly report of Copano, and such other reports and
documents so filed as such Holder may reasonably request in availing itself of any rule or
regulation of the Commission allowing such Holder to sell any such securities without registration.

     Section 2.10 Transfer or Assignment of Registration Rights. The rights to cause
Copano to register Registrable Securities granted to the Contributors by Copano under this Article
II may not be transferred or assigned by any Contributor unless (a) each such transferee or
assignee is a partner (either general or limited), member or Affiliate of such Contributor, (b)
Copano is given written notice prior to any said transfer or assignment, stating the name and
address of each such transferee or assignee and identifying the securities with respect to which
such registration rights are being transferred or assigned, and (c) each such transferee or
assignee assumes in writing responsibility for its portion of the obligations of such Contributor
under this Agreement.

     Section 2.11 Limitation on Subsequent Registration Rights. From and after the date
hereof, Copano shall not, without the prior written consent of the Holders of a majority of the
outstanding Registrable Securities, enter into any agreement with any current or future holder of
any securities of Copano that would allow such current or future holder to require Copano to
include securities in any registration statement filed by Copano on a basis that is superior in any
way to the piggyback rights granted to the Contributors hereunder.

ARTICLE III

MISCELLANEOUS

     Section 3.01 Communications. All notices and other communications provided for or
permitted hereunder shall be made in writing by facsimile, electronic mail, courier service or
personal delivery:

     (a) if to Contributor, to the address set forth under that Contributor’s signature block in
accordance with the provisions of this Section 3.01,

14

 

     (b) if to a transferee of Contributor, to such Holder at the address provided pursuant to
Section 2.10 above, and

     (c) if to Copano, at 2727 Allen Parkway, Suite 1200, Houston, Texas 77019, notice of which is
given in accordance with the provisions of this Section 3.01.

     All such notices and communications shall be deemed to have been received at the time
delivered by hand, if personally delivered; when receipt acknowledged, if sent via facsimile or
sent via Internet electronic mail; and when actually received, if sent by courier service or any
other means.

     Section 3.02 Successor and Assigns. This Agreement shall inure to the benefit of and
be binding upon the successors and permitted assigns of each of the parties, including subsequent
Holders of Registrable Securities to the extent permitted herein.

     Section 3.03 Assignment of Rights. All or any portion of the rights and obligations
of any Contributor under this Agreement may be transferred or assigned by such Contributor in
accordance with Section 2.10 hereof.

     Section 3.04 Aggregation. All Registrable Securities held or acquired by Persons who
are Affiliates of one another shall be aggregated together for the purpose of determining the
availability of any rights under this Agreement.

     Section 3.05 Recapitalization, Exchanges, Etc. Affecting the Common Units. The
provisions of this Agreement shall apply to the full extent set forth herein with respect to any
and all units of Copano or any successor or assign of Copano (whether by merger, consolidation,
sale of assets or otherwise) which may be issued in respect of, in exchange for or in substitution
of, the Registrable Securities, and shall be appropriately adjusted for combinations,
recapitalizations and the like occurring after the date of this Agreement.

     Section 3.06 Specific Performance. Damages in the event of breach of this Agreement
by a party hereto may be difficult, if not impossible, to ascertain, and it is therefore agreed
that each such Person, in addition to and without limiting any other remedy or right it may have,
will have the right to an injunction or other equitable relief in any court of competent
jurisdiction, enjoining any such breach, and enforcing specifically the terms and provisions
hereof, and each of the parties hereto hereby waives any and all defenses it may have on the ground
of lack of jurisdiction or competence of the court to grant such an injunction or other equitable
relief. The existence of this right will not preclude any such Person from pursuing any other
rights and remedies at law or in equity which such Person may have.

     Section 3.07 Counterparts. This Agreement may be executed in any number of
counterparts (including facsimile counterparts) and by different parties hereto in separate
counterparts, each of which counterparts, when so executed and delivered, shall be deemed to be an
original and all of which counterparts, taken together, shall constitute but one and the same
Agreement.

     Section 3.08 Headings. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

15

 

     Section 3.09 Governing Law. The laws of the State of Delaware shall govern this
Agreement without regard to principles of conflict of laws.

     Section 3.10 Severability of Provisions. Any provision of this Agreement which is
prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to
the extent of such prohibition or unenforceability without invalidating the remaining provisions
hereof or affecting or impairing the validity or enforceability of such provision in any other
jurisdiction.

     Section 3.11 Entire Agreement. This Agreement is intended by the parties as a final
expression of their agreement and intended to be a complete and exclusive statement of the
agreement and understanding of the parties hereto in respect of the subject matter contained
herein. There are no restrictions, promises, warranties or undertakings, other than those set
forth or referred to herein with respect to the rights granted by Copano set forth herein. This
Agreement supersedes all prior agreements and understandings between the parties with respect to
such subject matter.

     Section 3.12 Amendment. This Agreement may be amended only by means of a written
amendment signed by Copano and the Holders of a majority of the then outstanding Registrable
Securities; provided, however, that no such amendment shall materially and adversely affect the
rights of any Holder hereunder without the consent of such Holder.

     Section 3.13 No Presumption. If any claim is made by a party relating to any
conflict, omission, or ambiguity in this Agreement, no presumption or burden of proof or persuasion
shall be implied by virtue of the fact that this Agreement was prepared by or at the request of a
particular party or its counsel.

16

 

IN WITNESS WHEREOF, the parties have executed this Agreement as of the date first written above.

	 	 	 	 	 
	 	COPANO ENERGY, L.L.C.

 	 
	 	By:  	/s/ John R. Eckel, Jr.
 	 
	 	 	Name:  	John R. Eckel, Jr. 	 
	 	 	Title:  	Chairman of the Board and Chief Executive
Officer 	 
	 

Signature Page to

Registration Rights Agreement

 

 

	 	 	 	 	 
	 	CIMMARRON GATHERING GP, LLC

 	 
	 	By:  	/s/ Richard K. Gordon
 	 
	 	 	Name:  	Richard K. Gordon 	 
	 	 	Title:  	Chief Executive Officer

	 
	 	c/o Richard K. Gordon

2727 Allen Parkway, Suite 1350

Houston, Texas 77019

and

c/o John Schmitz

201 W. California Street

Gainesville, Texas 76240 	 

Signature Page to

Registration Rights Agreement

2

 

	 	 	 	 	 
	 	TAOS GATHERING, LP

By: Taos Gathering GP, LLC,
its general partner

 	 
	 	By:  	/s/ Richard K. Gordon
 	 
	 	 	Name:  	Richard K. Gordon 	 
	 	 	Title:  	Chief Executive Officer

	 
	 	
c/o Richard K. Gordon

2727 Allen Parkway, Suite 1350

Houston, Texas 77019 

Signature Page to

Registration Rights Agreement

3

 

	 	 	 	 	 
	 	CIMMARRON TRANSPORTATION, LLC

 	 
	 	By:  	/s/ John D. Schmitz
 	 
	 	 	Name:  	John D. Schmitz 	 
	 	 	Title Manager and President

	 
	 	
c/o John Schmitz

201 W. California Street

Gainesville, Texas 76240 

Signature Page to

Registration Rights Agreement

4exv10w1

 

Exhibit 10.1

FIRST AMENDMENT TO AMENDED AND RESTATED LOAN FUNDING AND

SERVICING AGREEMENT

(Fairway Finance Company Transaction with Patriot Capital Funding LLC I)

     THIS FIRST AMENDMENT TO THE AMENDED AND RESTATED LOAN FUNDING AND SERVICING AGREEMENT, dated
as of May 2, 2007 (this “Amendment”), is entered into by and among PATRIOT CAPITAL FUNDING
LLC I, a Delaware limited liability company, as the borrower (together with its successors and
assigns in such capacity, the “Borrower”), PATRIOT CAPITAL FUNDING, INC., a Delaware
corporation, as the servicer (together with its successors and assigns in such capacity, the
“Servicer”), FAIRWAY FINANCE COMPANY, LLC, a Delaware limited liability company, as the
conduit lender (together with its successors and assigns in such capacity, the “Conduit
Lender”), BMO CAPITAL MARKETS CORP., (f/k/a Harris Nesbitt Corp.) a Delaware corporation
(“BMO”), as the Agent (together with its successors and assigns in such capacity, the
“Agent”), and WELLS FARGO BANK, NATIONAL ASSOCIATION, a national banking association, not
in its individual capacity, but solely as the backup servicer (together with its successors and
assigns in such capacity, the “Backup Servicer”) and as the trustee (together with its
successors and assigns in such capacity, the “Trustee”). Capitalized terms used and not
otherwise defined herein shall have the meanings given to such terms in the Agreement (as defined
below).

R E C I T A L S

     WHEREAS, the parties hereto entered into that certain Amended and Restated Loan Funding and
Servicing Agreement, dated as of September 18, 2006 (such agreement as amended, modified,
supplemented, waived or restated from time to time, the “Agreement”);

     WHEREAS, the parties hereto desire to amend the Agreement in certain respects as provided
herein;

     NOW, THEREFORE, based upon the above Recitals, the mutual premises and agreements contained
herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby
acknowledged, the parties hereto, intending to be legally bound, hereby agree as follows:

     SECTION 1. AMENDMENTS.

     (a) Section 1.1 of the Agreement is hereby amended as follows:

          (1) Clause (c) of the definition of “Concentration Limits” is hereby amended to delete
therefrom the reference to “$17,500,000” and to substitute therefor a reference to “$20,000,000”.

          (2) Clause (d) of the definition of “Concentration Limits” is hereby restated in its
entirety as follows:

 

 

               “(d) [Reserved];”

          (3) Clause (e) of the definition of “Concentration Limits” is hereby restated in its
entirety as follows:

               “(e) [Reserved];”

          (4) The definition of “Fee Letter” is hereby restated in its entirety as follows:

               ‘“Fee Letter”: The Second Amended and Restated Fee Letter, dated as of May 2, 2007,
among the Borrower, the Servicer, the Conduit Lender and the Agent as such letter may be amended,
supplemented, modified, waived or restated from time to time.’

          (5) The definition of “Required Equity Contribution” is hereby restated in its
entirety as follows:

               ‘“Required Equity Contribution”: As of any date of determination prior to the
Termination Date, an Equity Contribution in an amount equal to the greater of (x) $105,000,000 and
(y) the sum of the Outstanding Loan Balances of Eligible Loans to the six Obligors representing the
greatest portion of the Aggregate Outstanding Loan Balance.’

     SECTION 2. AGREEMENT IN FULL FORCE AND EFFECT AS AMENDED.

     Except as specifically amended hereby, all provisions of the Agreement shall remain in full
force and effect. After this Amendment becomes effective, all references to the Agreement, the
“Loan Funding and Servicing Agreement,” “hereof,” “herein,” or words of similar effect referring to
the Agreement shall be deemed to mean the Agreement as amended hereby. This Amendment shall not
constitute a novation of the Agreement, but shall constitute an amendment thereof. This Amendment
shall not be deemed to expressly or impliedly waive, amend or supplement any provision of the
Agreement other than as expressly set forth herein.

     SECTION 3. REPRESENTATIONS.

     Each of the Borrower and Servicer represents and warrants as of the date of this Amendment as
follows:

     (i) it is duly incorporated or organized, as applicable, validly existing and in good
standing under the laws of its jurisdiction of incorporation or organization, as applicable;

     (ii) the execution, delivery and performance by it of this Amendment are within its
powers, have been duly authorized, and do not contravene (A) its charter, by- laws, or other
organizational documents, or (B) any Applicable Law;

     (iii) no consent, license, permit, approval or authorization of, or registration,
filing or declaration with any governmental authority, is required in connection with the

-2-

 

execution, delivery, performance, validity or enforceability of this Amendment by or against
it;

     (iv) this Amendment has been duly executed and delivered by it;

     (v) this Amendment constitutes its legal, valid and binding obligation enforceable
against it in accordance with its terms, except as enforceability may be limited by
applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the
enforcement of creditors’ rights generally or by general principles of equity;

     (vi) it is not in default under the Agreement; and

     (vii) there is no Termination Event, Unmatured Termination Event, or Servicer
Termination Event.

     SECTION 4. CONDITIONS TO EFFECTIVENESS.

     This Amendment shall become effective on the date on which each party hereto has delivered an
executed signature page hereto to the Agent (such date, the “Effective Date”).

     SECTION 5. MISCELLANEOUS.

     (a) This Amendment may be executed in any number of counterparts (including by facsimile), and
by the different parties hereto on the same or separate counterparts, each of which shall be deemed
to be an original instrument but all of which together shall constitute one and the same agreement.

     (b) The descriptive headings of the various sections of this Amendment are inserted for
convenience of reference only and shall not be deemed to affect the meaning or construction of any
of the provisions hereof.

     (c) This Amendment may not be amended or otherwise modified except as provided in the
Agreement.

     (d) The failure or unenforceability of any provision hereof shall not affect the other
provisions of this Amendment.

     (e) Whenever the context and construction so require, all words used in the singular number
herein shall be deemed to have been used in the plural, and vice versa, and the masculine gender
shall include the feminine and neuter and the neuter shall include the masculine and feminine.

     (f) This Amendment represents the final agreement between the parties only with respect to the
subject matter expressly covered hereby and may not be contradicted by evidence of prior,
contemporaneous or subsequent oral agreements between the parties. There are no unwritten oral
agreements between the parties.

-3-

 

     (g) THIS AMENDMENT AND THE RIGHTS AND OBLIGATIONS OF THE PARTIES UNDER THIS AMENDMENT SHALL BE
GOVERNED BY AND CONSTRUED AND INTERPRETED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK
WITHOUT REFERENCE TO ITS CONFLICT OF LAWS PROVISIONS.

[Remainder of Page Intentionally Left Blank]

-4-

 

     IN WITNESS WHEREOF, the parties have caused this Amendment to be executed by their respective
officers thereunto duly authorized, as of the date first above written.

	 	 	 	 	 
	 	 	PATRIOT CAPITAL FUNDING LLC I, as the
	 	 	Borrower
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	By:
	 	 
	 

	 	 	 	 
	 

	 	Name:
	 	 
	 

	 	 	 	 
	 

	 	Title:
	 	 
	 

	 	 	 	 
	 
	 	 	 	 
	 	 	PATRIOT CAPITAL FUNDING, INC., as the
	 	 	Servicer
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	By:
	 	 
	 

	 	 	 	 
	 

	 	Name:
	 	 
	 

	 	 	 	 
	 

	 	Title:
	 	 
	 

	 	 	 	 

[SIGNATURES CONTINUED ON FOLLOWING PAGE]

 

 

	 	 	 	 	 
	 	 	FAIRWAY FINANCE COMPANY, LLC,
	 	 	as the Conduit Lender
	 
	 	 	 	 
	 
	 	 	 	 
	 

	 	By:
	 	 
	 

	 	 	 	 
	 

	 	Name:
	 	 
	 

	 	 	 	 
	 

	 	Title:
	 	 
	 

	 	 	 	 

[SIGNATURES CONTINUED ON FOLLOWING PAGE]

 

 

	 	 	 	 	 
	 	 	BMO CAPITAL MARKETS CORP., as the
	 	 	Agent
	 
	 	 	 	 
	 

	 	By:
	 	 
	 

	 	 	 	 
	 

	 	Name:
	 	 
	 

	 	 	 	 
	 

	 	Title:
	 	 
	 

	 	 	 	 

[SIGNATURES CONTINUED ON FOLLOWING PAGE]

 

 

	 	 	 	 	 
	 	 	WELLS FARGO BANK, NATIONAL
	 	 	ASSOCIATION, as the Backup Servicer and as the
	 	 	Trustee
	 
	 	 	 	 
	 

	 	By:
	 	 
	 

	 	 	 	 
	 

	 	Name:
	 	 
	 

	 	 	 	 
	 

	 	Title:

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