Document:

Exhibit 4.1

 

Execution Copy

 

UNIT PURCHASE AGREEMENT

 

by and among

 

MARKWEST ENERGY PARTNERS, L.P.,

 

MARKWEST ENERGY GP, L.L.C.

 

KAYNE ANDERSON ENERGY FUND II, L.P.,

 

KAYNE ANDERSON CAPITAL INCOME PARTNERS (QP), L.P.,

 

KAYNE ANDERSON MLP FUND, L.P.,

 

KAYNE ANDERSON CAPITAL INCOME FUND, LTD.,

 

KAYNE ANDERSON INCOME PARTNERS, L.P.,

 

HFR RV PERFORMANCE MASTER TRUST,

 

TORTOISE ENERGY
INFRASTRUCTURE CORPORATION

 

AND

 

ENERGY INCOME AND GROWTH FUND

 

 

UNIT PURCHASE AGREEMENT

 

UNIT PURCHASE
AGREEMENT, dated as of July 29, 2004 (this “Agreement”), by
and among MARKWEST ENERGY PARTNERS, L.P. (“MarkWest”) and MARKWEST
ENERGY GP, L.L.C. (“MarkWest GP”) (solely for purposes of
Sections 3.15 and 5.13) and each of KAYNE ANDERSON ENERGY FUND II, L.P. (“KAEF”),
KAYNE ANDERSON CAPITAL INCOME PARTNERS
(QP), L.P. (“KACIP”), KAYNE ANDERSON MLP FUND, L.P. (“KAMLP”),
KAYNE ANDERSON CAPITAL INCOME FUND, LTD. (“KACIF”), KAYNE ANDERSON
INCOME PARTNERS, L.P. (“KAIP”), HFR RV PERFORMANCE MASTER TRUST (“HFR”)
(collectively, “Kayne Anderson”),  TORTOISE
ENERGY INFRASTRUCTURE CORPORATION (“Tortoise”) and ENERGY INCOME AND
GROWTH FUND (“Energy Income”) (each of KAEF, KACIP, KAMLP, KACIF, KAIP,
HFR, Tortoise and Energy Income a “Purchaser” and collectively, the “Purchasers”).

 

In consideration
of the mutual covenants and agreements set forth herein and for good and
valuable consideration, the receipt of which is hereby acknowledged, the
parties hereby agree as follows:

 

ARTICLE I.

DEFINITIONS

 

Section 1.01           Definitions.  As used in this Agreement, and unless the
context requires a different meaning, the following terms have the meanings
indicated:

 

“ACGC”
means ACGC Gathering Company, L.L.C., an Oklahoma limited liability company.

 

“Action”
against a Person means any lawsuit, action, proceeding, investigation or
complaint before any Governmental Authority, mediator or arbitrator.

 

“Affiliate”
means, with respect to a specified Person, any other Person, directly or
indirectly controlling, controlled by or under direct or indirect common
control with such specified Person.  For
purposes of this definition, “control” (including, with correlative meanings,
“controlling”, “controlled by”, and “under common control with”) means the
power to direct or cause the direction of the management and policies of such
Person, directly or indirectly, whether through the ownership of voting
securities, by contract or otherwise.

 

“American
Central” means American Central Eastern Texas Gas Company Limited
Partnership, an Oklahoma limited partnership.

 

“American
Central Acquisition” means MarkWest’s proposed acquisition of the east
Texas Carthage gathering system and gas processing assets pursuant to the
American Central PSA.

 

“American
Central Closing” means the closing of the American Central Acquisition.

 

2

 

“American
Central PSA” means that certain Asset Purchase and Sale Agreement dated as
of July 1, 2004, between MarkWest Energy East Texas Gas Company L.P., a
Delaware limited partnership and indirect wholly owned subsidiary of MarkWest,
as buyer, and American Central and ACGC, as sellers.

 

“Basic
Documents” means, collectively, this Agreement, the Registration Rights
Agreement, and any and all other agreements or instruments executed and
delivered to the Purchasers by MarkWest or any Subsidiary of MarkWest hereunder
or thereunder.

 

“Business
Day” means any day other than a Saturday, Sunday, or a legal holiday for
commercial banks in Wilmington, Delaware.

 

“Closing”
shall have the meaning specified in Section 2.03.

 

“Closing
Date” shall have the meaning specified in Section 2.03.

 

“Commission”
means the United States Securities and Exchange Commission.

 

“Commitment”
means, with respect to a particular Purchaser, the commitment of such Purchaser
until the Termination Date to purchase such Purchaser’s Purchased Units on the
terms and subject to the conditions set forth in this Agreement.

 

“Commitment
Date” means the date of this Agreement.

 

“Common
Unit Price” shall have the meaning specified in Section 2.06(b).

 

“Common
Units” means the common units of MarkWest.

 

“Confidential
Information” means all oral or written information, documents, records and
data that MarkWest or its Representatives furnishes or otherwise discloses to a
Purchaser or any of its Representatives, including any information relating to
either American Central or ACGC, together with all copies, extracts, analyses,
compilations, studies, memoranda, notes or other documents, records or data (in
whatever form maintained, whether documentary, computer or other electronic
storage or otherwise) prepared by any Person that contain or otherwise reflect
or are generated from such information, documents, records, or data.  The term “Confidential Information” does not
include any information that (a) at the time of disclosure or thereafter is
generally available to the public (other than as a result of a disclosure by
such Purchaser or its Representatives), (b) is developed by such Purchaser or
any of its Representatives, independent of, and without reliance in whole or in
part on, any Confidential Information or any knowledge of Confidential
Information, (c) becomes available to such Purchaser or its Representatives on
a non-confidential basis from a source other than MarkWest or its
Representatives who, insofar as is known to the recipient after reasonable
inquiry, is not prohibited from transmitting the information to the recipient
by a contractual, legal, fiduciary or other obligation to MarkWest or (d) was
available to such Purchaser or its Representatives on a non-confidential basis
prior to its disclosure to such Purchaser or its Representatives by MarkWest or
its Representatives.

 

3

 

“Exchange
Act” means the Securities Exchange Act of 1934, as amended from time to
time, and the rules and regulations of the Commission promulgated thereunder.

 

“Form 8-A”
shall have the meaning set forth in Section 3.02(a).

 

“GAAP”
means generally accepted accounting principles in the United States of America
in effect from time to time.

 

“Governmental
Authority” means, with respect to a particular Person, the country, state,
county, city and political subdivisions in which such Person or such Person’s
Property is located or which exercises valid jurisdiction over any such Person
or such Person’s Property, and any court, agency, department, commission,
board, bureau or instrumentality of any of them and any monetary authority
which exercises valid jurisdiction over any such Person or such Person’s
Property.  Unless otherwise specified,
all references to Governmental Authority herein with respect to MarkWest means
a Governmental Authority having jurisdiction over MarkWest, its Subsidiaries or
any of their respective Properties.

 

“Indemnified
Party” shall have the meaning specified in Section 5.02(c).

 

“Indemnifying
Party” shall have the meaning specified in Section 5.02(c).

 

“Knowledge”
means the actual knowledge of the individuals listed on Schedule 2.01
hereto.

 

“Law”
means any federal, state, local or foreign order, writ, injunction, judgment,
settlement, award, decree, statute, law, rule or regulation.

 

“Lien”
means any interest in Property securing an obligation owed to, or a claim by, a
Person other than the owner of the Property, whether such interest is based on
the common law, statute or contract, and whether such obligation or claim is
fixed or contingent, and including but not limited to the lien or security
interest arising from a mortgage, encumbrance, pledge, security agreement,
conditional sale or trust receipt or a lease, consignment or bailment for
security purposes. For the purpose of this Agreement, a Person shall be deemed
to be the owner of any Property which it has acquired or holds subject to a
conditional sale agreement, or leases under a financing lease or other arrangement
pursuant to which title to the Property has been retained by or vested in some
other Person in a transaction intended to create a financing.

 

“MarkWest”
has the meaning set forth in the introductory paragraph.

 

“MarkWest
Financial Statements” means the financial statement or statements described
or referred to in Section 3.03.

 

“MarkWest
GP” has the meaning set forth in the introductory paragraph.

 

“MarkWest
Material Adverse Effect” means any material and adverse effect on (a) the
assets, liabilities, financial condition, business, operations or affairs of
MarkWest

 

4

 

and its Subsidiaries taken as a
whole measured against those assets, liabilities, financial condition,
business, operations or affairs reflected in the MarkWest SEC Documents filed
with the Commission prior to the Commitment Date or from the facts represented
or warranted in any Basic Document, or (b) the ability of MarkWest to
consummate the American Central Acquisition or any of the transactions
contemplated under the Basic Documents.

 

“MarkWest
Related Parties” shall have the meaning specified in Section 5.02(b).

 

“MarkWest
SEC Documents” shall have the meaning specified in Section 3.03.

 

“Partnership
Agreement” means the Amended and Restated Agreement of Limited Partnership
of MarkWest, dated as of May 24, 2002.

 

“Partnership
Securities” means any class or series of equity interest in MarkWest (but
excluding any options, rights, warrants and appreciation rights relating to an
equity interest in MarkWest), including without limitation Common Units,
Subordinated Units and Incentive Distribution Rights (as defined in the
Partnership Agreement).

 

“Permits”
means, with respect to MarkWest or any of its Subsidiaries, any licenses,
permits, variances, consents, authorizations, waivers, grants, franchises,
concessions, exemptions, orders, registrations and approvals of Governmental
Authorities or other Persons necessary for the ownership, leasing, operation,
occupancy and use of its Properties and the conduct of its businesses as
currently conducted.

 

“Person”
means any individual, corporation, company, voluntary association, partnership,
joint venture, trust, limited liability company, unincorporated organization or
government or any agency, instrumentality or political subdivision thereof, or
any other form of entity.

 

“Prior
Registration Rights Agreements” means the (i) Registration Rights Agreement
dated November 20, 2002 by and between MarkWest and Tortoise MWEP, L.P. and
(ii) Registration Rights Agreement dated June 13, 2003 by and among MarkWest
and each party listed on Schedule A thereto (Tortoise MWEP, L.P. and each such
party are collectively referred to herein as “Prior Rights Holders”).

 

“Property”
means any interest in any kind of property or asset, whether real, personal or
mixed, or tangible or intangible.

 

“Purchase
Price” means, with respect to a particular Purchaser, the monetary
commitment amount set forth opposite such Purchaser’s name under the column
entitled “Total Purchase Price” on Schedule 2.02 hereto.

 

“Purchased
Units” means, with respect to a particular Purchaser, the number of Common
Units equal to the quotient determined by dividing (a) the monetary commitment
amount set forth opposite such Purchaser’s name under the column entitled
“Total Purchase Price” set forth on Schedule 2.02 hereto by (b) the
Common Unit Price.

 

5

 

“Purchaser”
has the meaning set forth in the introductory paragraph.

 

“Purchaser
Material Adverse Effect” means, with respect to a particular Purchaser, any
material and adverse effect on (a) the assets, liabilities, financial
condition, business, operations or affairs of such Purchaser, (b) the ability
of such Purchaser to carry out its business as of the date hereof or to meet
its obligations under the Basic Documents on a timely basis or (c) the ability
of such Purchaser to consummate the transactions under any Basic Document.

 

“Purchaser
Related Parties” shall have the meaning specified in Section 5.02(a).

 

“RBC”
shall mean Royal Bank of Canada.

 

“Registration
Rights Agreement” means the Registration Rights Agreement, to be entered
into at the Closing, between MarkWest and the Purchasers in the form attached
hereto as Exhibit A hereto.

 

“Representatives”
of any Person means the officers, directors, employees, agents, counsel,
investment bankers and other representatives of such Person.

 

“Securities
Act” means the Securities Act of 1933, as amended from time to time, and
the rules and regulations of the Commission promulgated thereunder.

 

“Subordinated Units” means the subordinated
units of MarkWest.

 

“Subsidiary”
means, as to any Person, any corporation or other entity of which: (i) such
Person or a Subsidiary of such Person is a general partner or manager; or (ii)
at least a majority of the outstanding equity interest having by the terms
thereof ordinary voting power to elect a majority of the board of directors or
similar governing body of such corporation or other entity (irrespective of
whether or not at the time any equity interest of any other class or classes of
such corporation or other entity shall have or might have voting power by
reason of the happening of any contingency) is at the time directly or
indirectly owned or controlled by such Person or one or more of its
Subsidiaries.

 

“Termination
Date” has the meaning set forth in Section 5.11(a).

 

Section
1.02           Accounting Procedures
and Interpretation.  Unless otherwise
specified herein, all accounting terms used herein shall be interpreted, all
determinations with respect to accounting matters hereunder shall be made, and
all Financial Statements and certificates and reports as to financial matters
required to be furnished to the Purchasers hereunder shall be prepared, in
accordance with GAAP applied on a consistent basis during the periods involved
(except, in the case of unaudited statements, as permitted by Form 10-Q
promulgated by the Commission) and in compliance as to form in all material
respects with applicable accounting requirements and with the published rules
and regulations of the Commission with respect thereto.

 

6

 

ARTICLE II.

AGREEMENT TO SELL AND PURCHASE

 

Section
2.01           Authorization of Sale of
Common Units.  MarkWest has
authorized the issuance and sale to each of the Purchasers such Purchaser’s
Purchased Units.

 

Section
2.02           Sale and Purchase.  Substantially contemporaneous with the
consummation of the American Central Acquisition and subject to the terms and
conditions hereof, at the Closing (as defined in Section 2.03) MarkWest hereby
agrees to issue and sell to each Purchaser, and each Purchaser hereby agrees to
purchase from MarkWest, such Purchaser’s Purchased Units, and each Purchaser
agrees to pay MarkWest such Purchaser’s Purchase Price. The obligation of each
Purchaser hereunder is several and not joint and is independent of the
obligation of each other Purchaser, and the failure of, or MarkWest’s waiver
of, performance by any Purchaser does not excuse performance by any other Purchaser
or MarkWest.  In the event the American
Central Acquisition is not consummated, (a) MarkWest shall be relieved of its
obligation to issue and sell to each Purchaser such Purchaser’s Purchased Units
and (b) each Purchaser shall be relieved of its obligation to purchase from
MarkWest such Purchaser’s Purchased Units.

 

Section
2.03           Closing.  Subject to the terms and conditions hereof,
the consummation of the purchase and sale of the Purchased Units hereunder (the
“Closing”) shall take place substantially contemporaneous with the
American Central Closing, but on or prior to the Termination Date, provided
that MarkWest shall have given each Purchaser ten (10) Business Days (or such
shorter period as shall be agreeable to all parties hereto) prior written notice
of such designated closing date (such date, the “Closing Date”) at the
offices of Vinson & Elkins, L.L.P., 1001 Fannin, Suite 2300, Houston, Texas
77002.

 

Section
2.04           Conditions to the
Closing.

 

(a)           Mutual Conditions.  The respective obligation of each party to
consummate the purchase and issuance and sale of the Purchased Units shall be
subject to the satisfaction on or prior to the Closing Date of each of the
following conditions (any or all of which may be waived by a particular party
on behalf of itself in writing, in whole or in part, to the extent permitted by
applicable Law):

 

(i)         no statute, rule, order, decree or
regulation shall have been enacted or promulgated, and no action shall have
been taken, by or before any Governmental Authority of competent jurisdiction
which temporarily, preliminarily or permanently restrains, precludes, enjoins
or otherwise prohibits the consummation of the transactions contemplated hereby
or makes the transactions contemplated hereby illegal;

 

7

 

(ii)        there shall not be pending any suit,
action or proceeding by or before any Governmental Authority seeking to
restrain, preclude, enjoin or prohibit the transactions contemplated by this
Agreement;

 

(iii)       Substantially contemporaneous with the
Closing, MarkWest shall consummate the American Central Acquisition;

 

(iv)       MarkWest and the Prior Rights Holders
shall have delivered amendments to the Prior Registration Rights Agreements;
and

 

(v)        The Common Units comprising the
Purchased Units have, subject to issuance, been approved for listing on the
American Stock Exchange.

 

(b)           Each Purchaser’s Conditions.  The respective obligation of each Purchaser
to consummate the purchase of its Purchased Units shall be subject to the satisfaction
on or prior to the Closing Date of each of the following conditions (any or all
of which may be waived by a particular Purchaser, on behalf of itself in
writing, in whole or in part, to the extent permitted by applicable Law):

 

(i)         (A) The representations and warranties
of MarkWest contained in this Agreement shall be true and correct in all
material respects (except that the representations and warranties of MarkWest
contained in Sections 3.03 and 3.04 shall be true and correct in all respects)
both when made and at and as of the Closing Date, as if made at and as of such
time (except to the extent expressly made as of an earlier date, in which case
as of such date), and (B) MarkWest shall have performed in all material
respects all of its agreements and covenants to be performed prior to the
Closing, and such Purchaser shall have received a certificate signed on behalf
of MarkWest to such effect;

 

(ii)        MarkWest shall have paid the Commitment
Fee required by Section 2.06(a) hereof; and

 

(iii)       MarkWest shall have entered into
definitive loan documentation with RBC with terms substantially as contemplated
by the commitment letter that was provided to the Purchasers on or prior to the
Commitment Date, and all conditions precedent to the funding under such loan
documentation shall have been satisfied, except for the issuance and sale of
the Purchased Units as contemplated hereby, and the loan contemplated thereby
shall fund substantially contemporaneously with the Closing.

 

(c)           MarkWest’s Conditions.  The obligation of MarkWest to consummate the
sale of each of the Purchaser’s Purchased Units to each of the Purchasers shall
be subject to the satisfaction on or prior to the Closing Date of the condition
(which

 

8

 

may
be waived by MarkWest in writing, in whole or in part, to the extent permitted
by applicable Law) that the representations and warranties of such Purchaser
contained in this Agreement shall be true and correct in all material respects
both when made and at and as of the Closing Date, as if made at and as of such
time (except to the extent expressly made as of an earlier date, in which case
as of such date), and MarkWest shall have received a certificate from each of
the Purchasers signed on behalf of such Purchaser to such effect.

 

Section
2.05           Deliveries.

 

(a)           At the Closing, subject to the terms
and conditions hereof, MarkWest will deliver, or cause to be delivered, to each
Purchaser:

 

(i)         The Purchased Units to be purchased by
such Purchaser by delivery of certificates evidencing such Purchased Units at
the Closing meeting the requirements of the Partnership Agreement, all free and
clear of any Liens, encumbrances or interests of any other Person, and (subject
to the terms and conditions hereof) Purchaser will make payment to MarkWest of
such Purchaser’s Purchase Price by wire transfer of immediately available funds
to an account designated by MarkWest in writing at least ten (10) Business Days
(or such shorter period as shall be agreeable to all parties hereto) prior to
the Closing;

 

(ii)        A certificate of the Secretary of State
of the State of Delaware, dated a recent date, that MarkWest is in good
standing;

 

(iii)       An opinion addressed to the Purchasers
from Vinson & Elkins L.L.P. (or other legal counsel to MarkWest reasonably
acceptable to the Purchasers), dated as of the Closing, in the form and
substance attached hereto as Exhibit C; and

 

(iv)       The Registration Rights Agreement, which
shall have been duly executed by MarkWest.

 

(b)           At the Closing, subject to the terms
and conditions hereof, each Purchaser will deliver, or cause to be delivered to
MarkWest, the Registration Rights Agreement, which shall have been duly
executed by each such Purchaser.

 

Section
2.06           Consideration.

 

(a)           In exchange for each Purchaser’s
Commitment to purchase its Purchased Units, MarkWest has, contemporaneously
herewith, paid to each Purchaser a commitment fee in cash of one and one-half
percent (1.5%) of such Purchaser’s Purchase Price (the “Commitment Fee”)
and as set forth on Schedule 2.02 hereto opposite such Purchaser’s name
under the column entitled “Commitment Fee.” 
The Commitment Fee represents consideration for each Purchaser’s
Commitment, irrespective of whether the Closing actually occurs.

 

9

 

(b)           The amount per Common Units each
Purchaser will pay to MarkWest to purchase the Common Units comprising the
Purchased Units (the “Common Unit Price”) shall be the lesser of (i)
$34.50 per Common Unit, an amount which represents ninety-one-point-five
(91.5%) of the average closing price of the Common Units as reported by the
Bloomberg Professional Financial Reporting Service for the twenty (20) trading
days immediately ending and including July 12, 2004 less $0.50 and (ii) an
amount per Common Unit equal to the closing price of the Common Units as
reported by the Bloomberg Professional Financial Reporting Service for the
trading day immediately prior to the Closing Date.

 

Section 2.07           Independent Nature of Purchasers’ Obligations
and Rights.  The obligations of each Purchaser under any
Basic Document are several and not joint with the obligations of any other
Purchaser, and no Purchaser shall be responsible in any way for the performance
of the obligations of any other Purchaser under any Basic Document.  Nothing contained herein or in any Basic
Document, and no action taken by any Purchaser pursuant thereto, shall be
deemed to constitute the Purchasers as a partnership, an association, a joint
venture or any other kind of entity, or create a presumption that the
Purchasers are in any way acting in concert or as a group with respect to such
obligations or the transactions contemplated by the Basic Document.  Each Purchaser shall be entitled to
independently protect and enforce its rights, including without limitation, the
rights arising out of this agreement or out of the other Basic Documents, and
it shall not be necessary for any other Purchaser to be joined as an additional
party in any proceeding for such purpose. 
Each Purchaser has been represented by its own separate legal counsel in
their review and negotiation of the Basic Documents.  MarkWest has elected to provide all
Purchasers with the same material terms and Basic Documents for the convenience
of MarkWest and not because it was required or requested to do so by the
Purchasers.

 

ARTICLE III.

REPRESENTATIONS AND WARRANTIES RELATED TO MARKWEST

 

MarkWest
represents and warrants to each Purchaser as follows:

 

Section
3.01           Corporate Existence.  MarkWest: 
(a) is a limited partnership duly organized, legally existing and in
good standing under the laws of the State of Delaware; and (b) has all
requisite power and authority, and has all governmental licenses,
authorizations, consents and approvals necessary, to own, lease, use and
operate its Properties and carry on its business as its business is now being
conducted, except where the failure to obtain such licenses, authorizations,
consents and approvals would not be reasonably likely to have a MarkWest
Material Adverse Effect.  Each of
MarkWest’s Subsidiaries that is a corporation is a corporation duly
incorporated, validly existing and in good standing under the laws of the State
or other jurisdiction of its incorporation and has all requisite power and
authority, and has all governmental licenses, authorizations, consents and
approvals necessary, to own, lease, use or operate its respective Properties
and carry on its business as now being conducted, except where the failure to
obtain such licenses, authorizations, consents and approvals would not be
reasonably likely to have a MarkWest Material Adverse Effect.  Each Subsidiary of

 

10

 

MarkWest
that is not a corporation has been duly formed, is validly existing and in good
standing under the laws of the State or other jurisdiction of its formation and
has all requisite power and authority, and has all governmental licenses,
authorizations, consents and approvals necessary, to own, lease, use or operate
its respective Properties and carry on its business as now being conducted,
except where the failure to obtain such licenses, authorizations, consents and
approvals would not be reasonably likely to have a MarkWest Material Adverse
Effect.  None of MarkWest or any of its
Subsidiaries are in default in the performance, observance or fulfillment of
any provision of, in the case of MarkWest, the Partnership Agreement or its
Certificate of Limited Partnership or, in the case of any Subsidiary of
MarkWest, its respective certificate of incorporation, bylaws or other similar
organizational documents.  Each of
MarkWest and its Subsidiaries is duly qualified or licensed and in good
standing as a foreign corporation, and is authorized to do business, in each
jurisdiction in which the ownership or leasing of its respective Properties or
the character of its respective operations makes such qualification necessary,
except where the failure to obtain such qualification, license, authorization
or good standing would not be reasonably likely to have a MarkWest Material
Adverse Effect.

 

Section
3.02           Capitalization and Valid
Issuance of Purchased Units.

 

(a)           As of the Commitment Date, the issued
and outstanding limited partner interests of MarkWest consist of 3,997,502
Common Units and 3,000,000 Subordinated Units. 
The only issued and outstanding general partner interests of
MarkWest are the interests of the General Partner described in the Partnership
Agreement.  All outstanding Common Units and
Subordinated Units and the limited partner interests represented thereby have
been duly authorized and validly issued in accordance with the Partnership
Agreement and are fully paid (to the extent required under the Partnership
Agreement) and nonassessable (except as such nonassessability may be affected
by matters described under the caption “The Partnership Agreement—Limited
Liability” in MarkWest’s registration statement on Form S-1 (No. 333-81780)
which is incorporated by reference into the Partnership’s Registration
Statement on Form 8-A (File No. 001-31239) (the “Form 8-A”)).

 

(b)           Other than MarkWest’s Long-Term
Investment Plan and MarkWest’s other equity compensation plans, as described in
MarkWest’s Annual Report on Form 10-K, as amended, prior to the Commitment
Date, for the period ended December 31, 2003, MarkWest has no equity
compensation plans that contemplate the issuance of Common Units (or securities
convertible into or exchangeable for Common Units).  No indebtedness having the right to vote (or
convertible into or exchangeable for securities having the right to vote) on
any matters on which MarkWest unitholders may vote are issued or
outstanding.  Except as set forth in the
first sentence of this Section 3.02(b) or as are contained in the Partnership Agreement,
there are no outstanding or authorized (i) options, warrants, preemptive
rights, subscriptions, calls, or other rights, convertible securities,
agreements, claims or commitments of any character obligating MarkWest or any
of its Subsidiaries to issue, transfer or sell any partnership interests or
other equity interest in, MarkWest or any of its Subsidiaries or securities
convertible into or exchangeable for such partnership interests or equity
interests, (ii) obligations of

 

11

 

MarkWest
or any of its Subsidiaries to repurchase, redeem or otherwise acquire any
partnership interests or equity interests of MarkWest or any of its
Subsidiaries or any such securities or agreements listed in clause (i) of this
sentence or (iii) voting trusts or similar agreements to which MarkWest or any
of its Subsidiaries is a party with respect to the voting of the equity
interests of MarkWest or any of its Subsidiaries.  At the Closing, except as described in this
Section 3.02(b), there will not be any outstanding subscriptions, options,
warrants, calls, preemptive rights, subscriptions, or other rights, convertible
or exchangeable securities, agreements, claims or commitments of any character
by which MarkWest or any of its Subsidiaries will be bound calling for the
purchase or issuance of any partnership interests of MarkWest or any equity
interest of any of its Subsidiaries or securities convertible into or
exchangeable for such partnership or equity interests or any other such
securities or agreements

 

(c)           (i) All of the issued and outstanding
equity interests of each of MarkWest’s Subsidiaries are owned, directly or
indirectly, by MarkWest free and clear of any Liens (except for such
restrictions as may exist under applicable Law and except for such Liens as may
be imposed under MarkWest’s or MarkWest’s Subsidiaries’ credit facilities), and
all such ownership interests have been duly authorized, validly issued and are
fully paid (to the extent required in the organizational documents of
MarkWest’s Subsidiaries, as applicable) and non-assessable (except as
nonassessability may be affected by Section 6.07 of the Texas Revised Uniform
Limited Partnership Act, Section 18-607 of the Delaware Limited Liability
Company Act, Section 17-607 of the Delaware Revised Uniform Limited Partnership
Act, Section 450.4307 of the Michigan Limited Liability Company Act, Section
2030 of the Oklahoma Limited Liability Company Act or the organizational
documents of MarkWest’s Subsidiaries, as applicable) and free of preemptive rights,
with no personal liability attaching to the ownership thereof, and (ii) as of
the Commitment Date, neither MarkWest nor any of its Subsidiaries owns any
shares of capital stock or other securities of, or interest in, any other
Person, or is obligated to make any capital contribution to or other investment
in any other Person.  The material
Subsidiaries of MarkWest are set forth on Schedule 2.03 hereto.

 

(d)           The Common Units being purchased by
the Purchasers hereunder and the limited partner interests represented thereby,
will be duly authorized by the Partnership Agreement (as amended as
contemplated by this Agreement) prior to the Closing and, when issued and
delivered to the Purchasers against payment therefor in accordance with the
terms of this Agreement, will be validly issued, fully paid (to the extent
required by the Partnership Agreement) and nonassessable (except as such
nonassessability may be affected by matters described under the caption “The
Partnership Agreement—Limited Liability” in MarkWest’s registration statement
on Form S-1 (No. 333-81780) which is incorporated by reference into the Form
8-A) and will be free of any and all Liens and restrictions on transfer, other
than restrictions on transfer under the Partnership Agreement and under applicable
state and federal securities laws and other than such Liens as are created by
the Purchaser.

 

(e)           The Common Units are listed on the
American Stock Exchange.

 

12

 

(f)            Correct and complete copies of the
Partnership Agreement and MarkWest’s certificate of limited partnership are
attached hereto as Exhibit B.

 

Section
3.03           MarkWest
SEC Documents. 
Except for the Current Report on Form 8-K/A filed on August 26,
2003, MarkWest has timely filed with the Commission all forms, registration
statements, reports, schedules and statements required to be filed by it under
the Exchange Act or the Securities Act (all such documents, collectively “MarkWest
SEC Documents”).  The MarkWest SEC
Documents, including, without limitation, any audited or unaudited financial
statements and any notes thereto or schedules included therein (the “MarkWest
Financial Statements”), at the time filed (in the case of registration
statements, solely on the dates of effectiveness) (except to the extent
corrected by a subsequently filed MarkWest SEC Document filed prior to the
Commitment Date) (a) did not contain any untrue statement of a material fact or
omit to state a material fact required to be stated therein or necessary in
order to make the statements therein, in light of the circumstances under which
they were made, not misleading, (b) complied in all material respects with the
applicable requirements of the Exchange Act and the Securities Act, as the case
may be, (c) complied as to form in all material respects with applicable
accounting requirements and with the published rules and regulations of the
Commission with respect thereto, (d) were prepared in accordance with GAAP
applied on a consistent basis during the periods involved (except as may be
indicated in the notes thereto or, in the case of unaudited statements, as
permitted by Form 10-Q of the Commission), and (e) fairly present (subject in
the case of unaudited statements to normal, recurring and year-end audit
adjustments) in all material respects the consolidated financial position and
status of the business of MarkWest as of the dates thereof and the consolidated
results of its operations and cash flows for the periods then ended.  PricewaterhouseCoopers LLP,
MarkWest’s former public accounting firm, is an independent public accounting
firm with respect to MarkWest and did not resign and was not dismissed as
independent public accountants of MarkWest as a result of or in connection with
any disagreement with MarkWest on a matter of accounting principles or
practices, financial statement disclosure or auditing scope or procedure.  KPMG LLP, MarkWest’s current public
accounting firm, is an independent public accounting firm with respect to
MarkWest and has not resigned or been dismissed as independent public
accountants of MarkWest as a result of or in connection with any disagreement
with MarkWest on a matter of accounting principles or practices, financial
statement disclosure or auditing scope or procedure.  To MarkWest’s Knowledge, the information
(considering all information in the aggregate and excluding all forecasts,
projections and forward looking information) provided by MarkWest to the
Purchasers regarding the American Central Acquisition was true and correct in all
material respects and did not contain any untrue statement of a material fact
or omit to state a material fact required to be stated therein or necessary in
order to make the statements therein, in light of the circumstances under which
they were made, not misleading.  Based on
advice from the staff of the Commission and related information, MarkWest
believes that it is currently eligible to use a registration statement on Form
S-3 for the registration of securities under the Securities Act.

 

Section
3.04           No Material Adverse
Change.  Except as set forth in or
contemplated by the MarkWest SEC Documents filed with the Commission on or
prior to

 

13

 

the
Commitment Date and except for the earnest money deposit paid to the sellers as
contemplated by the American Central PSA and all other matters related to the
proposed American Central Acquisition which have been discussed with each of
the Purchasers, since December 31, 2003, MarkWest and its Subsidiaries have conducted
their respective businesses in the ordinary course, consistent with past
practice, and there has been no (a) change, event, occurrence, effect, fact,
circumstance or condition that has had or would be reasonably likely to have a
MarkWest Material Adverse Effect, other than those occurring as a result of
general economic or financial conditions or other developments that are not
unique to MarkWest and its Subsidiaries but also affect other Persons who
participate or are engaged in the lines of business of which MarkWest and its
Subsidiaries participate or are engaged, except, in each case, to the extent
such change, event, occurrence, effect, fact, circumstance or condition affects
MarkWest to a significantly greater extent than other similarly situated
companies generally, (b) acquisition or disposition of any material asset by
MarkWest or any of its Subsidiaries or any contract or arrangement therefor,
otherwise than for fair value in the ordinary course of business or as
disclosed in the MarkWest SEC Documents filed with the Commission on or prior
to the Commitment Date, or (c) material change in MarkWest’s accounting
principles, practices or methods.  Except
as set forth in or contemplated by the MarkWest SEC Documents filed with the
Commission on or prior to the Commitment Date and except for the earnest money
deposit paid to the sellers as contemplated by the American Central PSA and the
proposed credit arrangements substantially as contemplated by the commitment
letter referenced in Section 2.04(b)(iv), MarkWest has neither issued
Partnership Securities (other than under its Long-Term Investment Plan and its
other equity compensation plans, each as described in the MarkWest SEC
Documents filed with the Commission on or prior to the Commitment Date) nor
incurred material indebtedness since March 31, 2004.

 

Section
3.05           Litigation.  Except as set forth in the MarkWest SEC
Documents filed with the Commission on or prior to the Commitment Date, there
is no Action pending or, to the knowledge of MarkWest, contemplated or
threatened against or affecting MarkWest, any of its Subsidiaries or any of
their respective officers, directors, properties or assets, which (individually
or in the aggregate) (a) questions the validity of this Agreement or the
Registration Rights Agreement or the right of MarkWest to enter into this
Agreement or the Registration Rights Agreement or to consummate the
transactions contemplated hereby and thereby or (b) would be reasonably likely
to result in a MarkWest Material Adverse Effect.

 

Section
3.06           No Breach.  The execution, delivery and performance by
MarkWest of this Agreement, the Registration Rights Agreement, the American
Central PSA and all other agreements and instruments to be executed and
delivered by MarkWest pursuant hereto or thereto or in connection with the
transactions contemplated by this Agreement, the Registration Rights Agreement,
the American Central PSA or any such other agreements and instruments, and
compliance by MarkWest with the terms and provisions hereof and thereof and the
issuance and sale by MarkWest of the Purchased Units, do not and will not (a)
violate any provision of any Law or Permit having applicability to MarkWest or
any of its Subsidiaries or any of their respective Properties, (b) conflict with
or result in a violation of any provision of the Certificate of Limited

 

14

 

Partnership
or other organizational documents of MarkWest, or the Partnership Agreement, or
any organizational documents of any of MarkWest’s Subsidiaries, (c) require any
consent, approval or notice under or result in a violation or breach of or
constitute (with or without due notice or lapse of time or both) a default (or
give rise to any right of termination, cancellation or acceleration) under any
contract, agreement, instrument, obligation, note, bond, mortgage, license,
loan or credit agreement to which MarkWest or any of its Subsidiaries is a
party or by which MarkWest or any of its Subsidiaries or any of their
respective Properties may be bound, or (d) result in or require the creation or
imposition of any Lien upon or with respect to any of the Properties now owned
or hereafter acquired by MarkWest or any of its Subsidiaries; with the
exception of the conflicts stated in clause (b) of this Section 3.06, except
where such conflict, violation, default, breach, termination, cancellation,
failure to receive consent or approval, or acceleration with respect to the
foregoing provisions of this Section 3.06 would not be, individually or in the
aggregate, reasonably likely to have a MarkWest Material Adverse Effect.

 

Section
3.07           Authority.  MarkWest has all necessary power and
authority to execute, deliver and perform its obligations under the Basic
Documents and the American Central PSA; and the execution, delivery and
performance by MarkWest of the Basic Documents and the American Central PSA
have been duly authorized by all necessary action on its part; and the Basic
Documents and the American Central PSA constitute the legal, valid and binding
obligations of MarkWest, enforceable in accordance with their terms, except as
such enforceability may be limited by bankruptcy, insolvency, fraudulent
transfer and similar laws affecting creditors’ rights generally or by general
principles of equity. No approval from the holders of the Common Units is
required in connection with MarkWest’s issuance and sale of the Purchased Units
to the Purchasers.

 

Section
3.08           Approvals.  Except for the approvals required by the
Commission in connection with MarkWest’s obligations under the Registration
Rights Agreement, no authorization, consent, approval, waiver, license,
qualification or written exemption from, nor any filing, declaration,
qualification or registration with, any Governmental Authority or any other
Person is required in connection with the execution, delivery or performance by
MarkWest of any of the Basic Documents and the American Central PSA, except
where the failure to receive such authorization, consent, approval, waiver,
license, qualification or written exemption from, or to make such filing,
declaration, qualification or registration would not, individually or in the
aggregate, be reasonably likely to have a MarkWest Material Adverse Effect.

 

Section
3.09           MLP Status.  MarkWest has, for each taxable year beginning
after December 31, 2002, during which MarkWest was in existence, met the gross
income requirements of Section 7704(c)(2) of the Internal Revenue Code of 1986,
as amended.

 

Section
3.10           Offering.  Assuming the accuracy of the representations
and warranties of the Purchasers contained in this Agreement, the sale and
issuance of the Purchased Units to each of the Purchasers pursuant to this
Agreement is exempt from the

 

15

 

registration
requirements of the Securities Act, and neither MarkWest nor any authorized
agent acting on its behalf has taken or will take any action hereafter that
would cause the loss of such exemptions.

 

Section
3.11           Investment Company
Status.  MarkWest is not an
“investment company” within the meaning of the Investment Company Act of 1940,
as amended.

 

Section
3.12           Certain Fees.  Except for the Commitment Fees to be payable
to each of the Purchasers pursuant to Section 2.06(a) and the expense
reimbursement contemplated by Section 5.12, no fees or commissions will be
payable by MarkWest to brokers, finders, or investment bankers with respect to
the sale of any of the Purchased Units or the consummation of the transaction
contemplated by this Agreement.  MarkWest
agrees that it will indemnify and hold harmless each of the Purchasers from and
against any and all claims, demands, or liabilities for broker’s, finder’s,
placement, or other similar fees or commissions incurred by MarkWest or alleged
to have been incurred by MarkWest in connection with the sale of each
Purchaser’s Purchased Units or the consummation of the transactions
contemplated by this Agreement.

 

Section
3.13           No Side Agreements.  There are no other agreements by, among or
between MarkWest or its Affiliates, on the one hand, and any of the Purchasers
or their Affiliates, on the other hand, with respect to the transactions
contemplated hereby nor promises or inducements for future transactions between
or among any of such parties.  

 

Section
3.14           Material Agreements.  MarkWest has provided the Purchasers with
correct and complete copies of all material agreements (as defined in Section
601(b)(10) of Regulation S-K promulgated by the Commission), including
amendments to or other modifications of pre-existing material agreements,
entered into by MarkWest since March 31, 2004.

 

Section
3.15           Accretive Acquisition.  MarkWest GP has determined, in good faith,
that the American Central Acquisition is an “Acquisition” (as defined in the
Partnership Agreement) that satisfies the requirements of Section 5.7(b) of the
Partnership Agreement and thus allows the issuance of the Purchased Units
without the prior approval of the MarkWest unitholders.

 

ARTICLE IV.

REPRESENTATIONS AND WARRANTIES OF EACH PURCHASER

 

Each Purchaser,
severally and not jointly, represents and warrants to MarkWest with respect to
itself:

 

Section
4.01           Investment.  The Purchased Units are being acquired for
its own account, not as a nominee or agent, and with no intention of
distributing the Purchased Units or any part thereof, and that such Purchaser
has no present intention of selling or granting any participation in or
otherwise distributing the same in any transaction in violation of the
securities laws of the United States of America or any

 

16

 

State,
without prejudice, however, to such Purchaser’s right at all times to sell or
otherwise dispose of all or any part of the Purchased Units under a
registration statement under the Securities Act and applicable state securities
laws or under an exemption from such registration available thereunder
(including, without limitation, if available, Rule 144 promulgated thereunder).
If such Purchaser should in the future decide to dispose of any of the Purchased
Units, such Purchaser understands and agrees (a) that it may do so only (i) in
compliance with the Securities Act and applicable state securities law, as then
in effect, or (ii) in the manner contemplated by any registration statement
pursuant to which such securities are being offered, and (b) that stop-transfer
instructions to that effect will be in effect with respect to such securities.

 

Section
4.02           Nature of Purchaser.  Such Purchaser represents and warrants to,
and covenants and agrees with, MarkWest that, (a) it is an “accredited
investor” within the meaning of Rule 501 of Regulation D promulgated by the
Securities and Exchange Commission pursuant to the Securities Act and (b) by
reason of its business and financial experience it has such knowledge,
sophistication and experience in making similar investments and in business and
financial matters generally so as to be capable of evaluating the merits and
risks of the prospective investment in the Purchased Units, is able to bear the
economic risk of such investment and, at the present time, would be able to
afford a complete loss of such investment.

 

Section
4.03           Receipt of Information;
Authorization.  Such Purchaser
acknowledges that it has (a) had access to MarkWest’s periodic filings
with the Commission, including MarkWest’s Annual Report on Form 10-K, as
amended, by the Form 10-K/A filed with the Commission on April 6, 2004, for the
year ended December 31, 2003, MarkWest’s Quarterly Report on Form 10-Q for the
quarter ended March 31, 2004 and all Current Reports on Form 8-K filed with the
Commission by MarkWest since January 1, 2004, (b) had access to information
regarding the proposed American Central Acquisition and its potential effect on
MarkWest’s operations and financial results and the risks related thereto and
(c) been provided a reasonable opportunity to ask questions of and receive
answers from Representatives of MarkWest regarding such matters.

 

Section
4.04           Corporate Existence.  Such Purchaser, if an entity: (a) is duly
incorporated or formed, legally existing and in good standing under the laws of
its respective jurisdiction of incorporation or formation; and (b) has all
requisite power and authority, and has all governmental licenses,
authorizations, consents and approvals necessary, to own, lease, use and
operate its Properties and carry on its business as its business is now being
conducted, except where the failure to obtain such licenses, authorizations,
consents and approvals would not have or would not reasonably be expected to have a Purchaser Material
Adverse Effect. Each such Purchaser is not in default in the performance,
observance or fulfillment of any provision of its organizational documents,
except where such default would not have or would not be
reasonably likely to have a Purchaser Material Adverse Effect.

 

Section
4.05           No Breach.  The execution, delivery and performance by
such Purchaser of this Agreement, the Registration Rights Agreement and all
other agreements and instruments to be executed and delivered by such Purchaser
pursuant

 

17

 

hereto
or thereto or in connection with the transactions contemplated by this
Agreement, the Registration Rights Agreement or any such other agreements and
instruments, and compliance by such Purchaser with the terms and provisions
hereof and thereof, and the purchase of such Purchaser’s Purchased Units by
such Purchaser do not and will not (a) violate any provision of any Law or
permit having applicability to such Purchaser or any of its Properties, (b)
conflict with or result in a violation of any provision of the organizational
documents of such Purchaser, (c) require any consent, approval or notice under
or result in a violation or breach of or constitute (with or without due notice
or lapse of time or both) a default (or give rise to any right of termination,
cancellation or acceleration) under any contract, agreement, instrument,
obligation, note, bond, mortgage, license, loan or credit agreement to which
such Purchaser is a party or by which such Purchaser or any of its Properties
may be bound, or (d) result in or require the creation or imposition of any
Lien upon or with respect to any of the Properties now owned or hereafter
acquired by such Purchaser; with the exception of the conflicts stated in
clause (b) of this Section 4.05, except where such conflict, violation,
default, breach, termination, cancellation, failure to receive consent or
approval, or acceleration with respect to the foregoing provisions of this
Section 4.05 would not, individually or in the aggregate, be reasonably likely
to have a Purchaser Material Adverse Effect.

 

Section
4.06           Restricted Securities.  Such Purchaser understands that the Purchased
Units it is purchasing are characterized as “restricted securities” under the
federal securities laws inasmuch as they are being acquired from MarkWest in a
transaction not involving a public offering and that under such laws and
applicable regulations such securities may be resold without registration under
the Securities Act only in certain limited circumstances. In this connection,
Purchaser represents that it is knowledgeable with respect to Rule 144 of the
Commission promulgated under the Securities Act.

 

Section
4.07           Certain Fees.  Other than the fees payable by Tortoise to
Lehman Brothers Inc. and the fees payable by Energy Income to A.G. Edwards
& Sons, Inc., no fees or commissions will be payable by such Purchaser to
brokers, finders, or investment bankers with respect to the purchase of any of
the Purchased Units or the consummation of the transaction contemplated by this
Agreement.  Such Purchaser agrees that it
will indemnify and hold harmless MarkWest from and against any and all claims,
demands, or liabilities for broker’s, finder’s, placement, or other similar
fees or commissions incurred by such Purchaser or alleged to have been incurred
by such Purchaser in connection with the purchase of such Purchaser’s Purchased
Units or the consummation of the transactions contemplated by this Agreement.

 

Section
4.08           Legend.  It is understood that the certificates
evidencing the Purchased Units may bear the following legend:  “These securities have not been registered
under the Securities Act of 1933, as amended. 
They may not be sold, offered for sale, pledged or hypothecated in the
absence of a registration statement in effect with respect to the securities
under such Act or an opinion of counsel satisfactory to the Company that such
registration is not required or unless sold pursuant to Rule 144 of such Act.”

 

18

 

Section
4.09           No Side Agreements.  There are no other agreements by, among or
between such Purchaser and any of its Affiliates, on the one hand, and any of
the other Purchasers or their Affiliates, on the other hand, with respect to
the transactions contemplated hereby nor promises or inducements for future
transactions between or among any of such parties.

 

ARTICLE V.

MISCELLANEOUS

 

Section
5.01           Interpretation and
Survival of Provisions.  Article,
Section, Schedule, and Exhibit references are to this Agreement, unless
otherwise specified.  All references to
instruments, documents, contracts, and agreements are references to such
instruments, documents, contracts, and agreements as the same may be amended,
supplemented, and otherwise modified from time to time, unless otherwise
specified.  All references to a party in
this Agreement shall include such party’s successors and permitted
assigns.  The word “including” shall mean
“including but not limited to.”  The terms
“will” and “shall” shall be interpreted to have the same meaning.  Words in the singular form will be construed
to include the plural and vice versa, unless the context otherwise requires.  The section headings contained in this
Agreement are inserted for convenience only and will not affect in any way the
meaning or interpretation of this Agreement. 
Whenever MarkWest has an obligation under the Basic Documents, the
expense of complying with that obligation shall be an expense of MarkWest
unless otherwise specified. Whenever any determination, consent, or approval is
to be made or given by a Purchaser, such action shall be in such Purchaser’s
sole discretion unless otherwise specified in this Agreement.  If any provision in the Basic Documents is
held to be illegal, invalid, not binding, or unenforceable, such provision
shall be fully severable and the Basic Documents shall be construed and
enforced as if such illegal, invalid, not binding, or unenforceable provision
had never comprised a part of the Basic Documents, and the remaining provisions
shall remain in full force and effect. 
The Basic Documents have been reviewed and negotiated by sophisticated
parties with access to legal counsel and shall not be construed against the
drafter.  The representations and
warranties set forth in Sections 3.01, 3.02, 3.06, 3.07, 3.08, 3.12, 3.13,
4.01, 4.02, 4.03, 4.04, 4.05, 4.06, 4.07 and 4.09 hereunder shall survive the
execution and delivery of this Agreement indefinitely, and the other
representations and warranties set forth herein shall survive for a period of
twelve (12) months following the Closing Date regardless of any investigation
made by or on behalf of MarkWest or each of the Purchasers.  The covenants made in this Agreement or any
other Basic Document shall survive the Closing of the transactions described
herein and remain operative and in full force and effect regardless of
acceptance of any of the Purchased Units and payment therefor and repayment or
repurchase thereof.  All indemnification
obligations of MarkWest and the provisions of Section 5.02 shall remain
operative and in full force and effect unless such obligations are expressly
terminated in a writing referencing that individual Section, regardless of any
purported general termination of this Agreement.

 

19

 

Section
5.02           Indemnification, Costs
and Expenses.

 

(a)           Indemnification by MarkWest.  MarkWest agrees to indemnify each Purchaser
and its officers, directors, employees and agents (collectively, the “Purchaser
Related Parties”) from, and hold each of them harmless against any and all
actions, suits, proceedings (including any investigations, litigation or
inquiries), demands, and causes of action, and, in connection therewith, and
promptly upon demand, pay or reimburse each of them for all reasonable costs,
losses, liabilities, damages, or expenses of any kind or nature whatsoever,
including, without limitation, the reasonable fees and disbursements of counsel
and all other reasonable expenses incurred in connection with investigating,
defending or preparing to defend any such matter that may be incurred by them
or asserted against or involve any of them as a result of, arising out of, or
in any way related to (i) any actual or proposed use by MarkWest of the
proceeds of any sale of the Purchased Units or (ii) the breach of any of the
representations, warranties or covenants of MarkWest contained herein, provided
such claim for indemnification relating to a breach of a representation or
warranty is made prior to the expiration of such representation or warranty.

 

(b)           Indemnification by Purchasers.  Each Purchaser agrees, severally and not
jointly, to indemnify MarkWest, MarkWest GP and their officers, directors,
employees and agents (collectively, the “MarkWest Related Parties”)
from, and hold each of them harmless against any and all actions, suits,
proceedings (including any investigations, litigation, or inquiries), demands,
and causes of action, and, in connection therewith, and promptly upon demand,
pay or reimburse each of them for all reasonable costs, losses, liabilities,
damages, or expenses of any kind or nature whatsoever, including, without
limitation, the reasonable fees and disbursements of counsel and all other
reasonable expenses incurred in connection with investigating, defending or
preparing to defend any such matter that may be incurred by them or asserted
against or involve any of them as a result of, arising out of, or in any way
related to the breach of any of the representations, warranties or covenants of
such Purchaser contained herein, provided such claim for indemnification
relating to a breach of the representations and warranties is made prior to the
expiration of such representations and warranties.

 

(c)           Indemnification Procedure.  Promptly after any MarkWest Related Party or
Purchaser Related Party (hereinafter, the “Indemnified Party”) has
received notice of any indemnifiable claim hereunder, or the commencement of
any action or proceeding by a third person, which the Indemnified Party
believes in good faith is an indemnifiable claim under this Agreement, the
Indemnified Party shall give the indemnitor hereunder (the “Indemnifying
Party”) written notice of such claim or the commencement of such action or
proceeding, but failure to so notify the Indemnifying Party will not relieve
the Indemnifying Party from any liability it may have to such Indemnified Party
hereunder except to the extent that the Indemnifying Party is materially
prejudiced by such failure. Such notice shall state the nature and the basis of
such claim to the extent then known.  The
Indemnifying Party shall have the right to defend and settle, at its own
expense and by its own counsel, any such matter as long as the Indemnifying
Party pursues the same diligently and in good faith. If the Indemnifying Party
undertakes to defend or settle, it shall promptly notify the Indemnified Party
of its

 

20

 

intention
to do so, and the Indemnified Party shall cooperate with the Indemnifying Party
and its counsel in all commercially reasonable respects in the defense thereof
and the settlement thereof. Such cooperation shall include, but shall not be
limited to, furnishing the Indemnifying Party with any books, records and other
information reasonably requested by the Indemnifying Party and in the
Indemnified Party’s possession or control. 
Such cooperation of the Indemnified Party shall be at the cost of the
Indemnifying Party.  After the
Indemnifying Party has notified the Indemnified Party of its intention to
undertake to defend or settle any such asserted liability, and for so long as
the Indemnifying Party diligently pursues such defense, the Indemnifying Party
shall not be liable for any additional legal expenses incurred by the
Indemnified Party in connection with any defense or settlement of such asserted
liability; provided, however, that the Indemnified Party shall be
entitled (i) at its expense, to participate in the defense of such asserted
liability and the negotiations of the settlement thereof and (ii) if (A) the
Indemnifying Party has failed to assume the defense and employ counsel or (B)
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 in addition 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 expenses and fees of such separate counsel and other expenses related to
such participation to be reimbursed by the Indemnifying Party as incurred.  Notwithstanding any other provision of this
Agreement, the Indemnifying Party shall not settle any indemnified claim
without the consent of the Indemnified Party, unless the settlement thereof
imposes no liability or obligation on, and includes a complete release from
liability of, the Indemnified Party.

 

Section
5.03           No Waiver; Modifications
in Writing.

 

(a)           Delay.  No failure or delay on the part of any party
in exercising any right, power, or remedy hereunder shall operate as a waiver
thereof, nor shall any single or partial exercise of any such right, power, or
remedy preclude any other or further exercise thereof or the exercise of any
right, power, or remedy. The remedies provided for herein are cumulative and
are not exclusive of any remedies that may be available to a party at law or in
equity or otherwise.

 

(b)           Specific Waiver.  Except as otherwise provided herein, no amendment,
waiver, consent, modification, or termination of any provision of this
Agreement or any other Basic Document shall be effective unless signed by each
of the parties hereto or thereto affected by such amendment, waiver, consent,
modification, or termination.  Any
amendment, supplement or modification of or to any provision of this Agreement
or any other Basic Document, any waiver of any provision of this Agreement or
any other Basic Document, and any consent to any departure by MarkWest from the
terms of any provision of this Agreement or any other Basic Document shall be
effective only in the specific instance and for the specific purpose for which
made or given. Except where notice is specifically required by this Agreement,
no notice to or demand on

 

21

 

MarkWest
in any case shall entitle MarkWest to any other or further notice or demand in
similar or other circumstances.

 

Section
5.04           Binding Effect;
Assignment.

 

(a)           Binding Effect.  This Agreement shall be binding upon
MarkWest, each Purchaser, and their respective successors and permitted
assigns. Except as expressly provided in this Agreement, this Agreement shall
not be construed so as to confer any right or benefit upon any Person other
than the parties to this Agreement, and their respective successors and
permitted assigns.

 

(b)           Assignment of Purchased Units.  All or any portion a Purchaser’s Purchased
Units purchased pursuant to this Agreement may be sold, assigned or pledged by
such Purchaser, subject to compliance with applicable securities laws.

 

(c)           Assignment of Rights.  All or any portion of the rights and
obligations of each Purchaser under this Agreement may not be transferred by
such Purchaser without the written consent of MarkWest, unless such transfer is
to an Affiliate of the Purchaser in which case written consent shall not be
unreasonably withheld.

 

Section
5.05           Confidentiality.  Notwithstanding anything herein to the
contrary, each Purchaser has executed a confidentiality agreement in favor of
MarkWest and shall continue to remain bound by such confidentiality
agreement.  Disclosure of Confidential
Information will not be deemed to be a breach of this Section 5.05 if such
disclosure is made with the consent of MarkWest or pursuant to a subpoena or
order issued by a court of competent jurisdiction or by a judicial or
administrative or legislative body or committee; provided, however,
that upon receipt by a Purchaser of any subpoena or order covering Confidential
Information of MarkWest, such Purchaser will promptly notify MarkWest of such
subpoena or order.

 

Section
5.06           Communications.  All notices and demands provided for
hereunder shall be in writing and shall be given by registered or certified
mail, return receipt requested, telecopy, air courier guaranteeing overnight
delivery or personal delivery to the following addresses:

 

(a)           If to Kayne Anderson:

 

1800 Avenue of
the Stars, 2nd Floor

Los Angeles,
California 90067

Attention:
David Shladovsky, General Counsel

Facsimile: (310) 284-6444

 

and to:

 

1100 Louisiana St # 4550

Houston, TX 77002

Attention: Chuck Yates

Facsimile: (713) 655-7355

 

22

 

with a copy (which shall not constitute notice) to:

 

Akin Gump Strauss Hauer & Feld LLP

1100 Louisiana Street, 44th Floor

Houston, TX 77002

Attention: J. Vincent Kendrick

Facsimile: (713) 236-0822

 

(b)           If to Tortoise:

 

Tortoise Energy Infrastructure
Corporation

10801 Mastin Blvd, Suite 222

Overland Park, KS 66210

Attention: David Schulte

Facsimile: (913) 345 2763

 

with a copy (which shall not constitute notice) to:

 

Blackwell Sanders Peper Martin, LLP

2300 Main Street, Suite 1000

Kansas City, MO 64108

Attention: Steven F. Carman

Facsimile: (816) 983-8080

 

(c)           If to Energy Income:

 

Fiduciary Asset Management

8112 Maryland, Suite 400

St. Louis, Missouri 63105

Attention: James J. Cunnane, Jr.

Facsimile:
(314) 863-4360

 

with
a copy (which shall not constitute notice) to:

 

Jenner
& Block LLP

1
IBM Plaza

Chicago,
Illinois 60611

Attention:
Michael T. Wolf

Facsimile:
(312) 840-7306

 

23

 

(d)           If to MarkWest:

 

MarkWest
Energy Partners, L.P.

155 Inverness
Drive West, Suite 200

Englewood, CO
80112

Attention:
Andrew L. Schroeder

Facsimile:
(303) 290-8769

 

with a copy
(which shall not constitute notice) to:

 

Vinson & Elkins L.L.P.

2300 First
City Tower

1001 Fannin
Street

Houston, Texas
77002

Attention:
David P. Oelman, Esq.

Facsimile:
(713) 615-5861

 

or to such other address as
MarkWest or such Purchaser may designate in writing. All notices and
communications shall be deemed to have been duly given at the time delivered by
hand, if personally delivered; upon actual receipt if sent by certified mail,
return receipt requested, or regular mail, if mailed; when receipt acknowledged,
if sent via facsimile; and upon actual receipt when delivered to an air courier
guaranteeing overnight delivery.

 

Section
5.07           Removal of Legend.  Any Purchaser may request MarkWest to remove
the legend described in Section 4.08 from the certificates evidencing the
Purchased Units by submitting to MarkWest such certificates, together with an
opinion of counsel to the effect that such legend is no longer required under
the Securities Act or applicable state laws, as the case may be.

 

Section
5.08           Entire Agreement.  This
Agreement, the other Basic Documents and the other agreements and documents
referred to herein are 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 and therein. There are no restrictions, promises, warranties
or undertakings, other than those set forth or referred to herein or therein
with respect to the rights granted by MarkWest or any of its Affiliates or each
of the Purchasers or any of their Affiliates set forth herein or therein.  This Agreement, the other Basic Documents and
the other agreements and documents referred to herein supersede all prior agreements
and understandings between the parties with respect to such subject matter.

 

Section
5.09           Governing Law.  This Agreement will be construed in
accordance with and governed by the laws of the State of Delaware without
regard to principles of conflicts of laws.

 

Section
5.10           Execution in
Counterparts.  This Agreement may be
executed in any number of counterparts and by different parties hereto in
separate

 

24

 

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
5.11           Termination.

 

(a)           Notwithstanding anything herein to
the contrary, this Agreement shall automatically terminate if the Closing shall
not have occurred on or before October 31, 2004, unless the term hereof is
extended by agreement of the parties hereto (such date or any extension of such
date, the “Termination Date”).

 

(b)           In the event of the termination of
this Agreement as provided in Section 5.11(a), this Agreement shall forthwith
become null and void.  In the event of
such termination, there shall be no liability on the part of any party hereto, except
as set forth in Section 5.02 of this Agreement and except with respect to the
requirement to comply with any confidentiality agreement in favor of MarkWest; provided
that nothing herein shall relieve any party from any liability or obligation
with respect to any willful breach of this Agreement.

 

Section
5.12           Expenses.  MarkWest
hereby covenants and agrees to reimburse Kayne Anderson, Tortoise and Energy
Income for reasonable and documented costs and expenses incurred in connection
with the negotiation, execution, delivery and performance of the Basic
Documents and the transactions contemplated hereby and thereby (including,
without limitation, reasonable legal, consulting and due diligence fees and
expenses), provided that such expenses do not exceed $35,000 with respect to
each of Kayne Anderson and Tortoise and $15,000 with respect to Energy Income
and that any request for such expense reimbursement by Kayne Anderson, Tortoise
or Energy Income be accompanied by a detailed invoice for such amount.  If any action at law or equity is necessary
to enforce or interpret the terms of the Basic Documents, the prevailing party
shall be entitled to reasonable attorney’s fees, costs and necessary
disbursements in addition to any other relief to which such party may be
entitled.

 

Section
5.13           Other Matters.  In the event MarkWest enters into any
material amendment of, or waives any material condition to closing under the
American Central PSA, no Purchaser shall be obligated to fulfill its
Commitment.  Other than the obligation of
MarkWest GP to make contributions to MarkWest as required by Section 5.2
of the Partnership Agreement, MarkWest GP hereby waives (for itself and on
behalf of its Affiliates) its preemptive rights provided under Section 5.9
of the Partnership Agreement with respect to the issuances of Partnership
Securities pursuant to this Agreement.

 

[The remainder of this page is intentionally left blank.]

 

25

 

IN WITNESS
WHEREOF, the parties hereto execute this Agreement, effective as of the date
first above written.

 

	
   

  	
  MARKWEST ENERGY PARTNERS, LP.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  MarkWest
  Energy GP, L.L.C.,

  
	
   

  	
   

  	
  its general
  partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MarkWest
  Energy Partners, L.P.

  	
   

  
	
   

  	
  Name:

  	
  MarkWest
  Energy Partners, L.P.

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  MARKWEST ENERGY GP, L.L.C.
(solely for the purpose of Sections 3.15 and 5.13)

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MarkWest
  Energy GP, L.L.C.

  	
   

  
	
   

  	
  Name:

  	
  MarkWest
  Energy GP, L.L.C.

  
	
   

  	
  Title:

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  KAYNE
  ANDERSON ENERGY FUND II, L.P.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  KAEFTX, L.P., its general partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Kayne
  Anderson Capital Advisors, L.P., its

  general partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Kayne
  Anderson Investment Management, Inc.,

  its
  general partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kayne
  Anderson Energy Fund II, L.P.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Kayne
  Anderson Energy Fund II, L.P.

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  

 

 

	
   

  	
  KAYNE
  ANDERSON CAPITAL INCOME

  PARTNERS (QP), L.P.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Kayne
  Anderson Capital Advisors, L.P., its

  general partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Kayne
  Anderson Investment Management,

  Inc., its
  general partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kayne
  Anderson Capital Income Partners (QP), L.P.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Kayne Anderson
  Capital Income Partners (QP), L.P.

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  KAYNE
  ANDERSON MLP FUND, L.P.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Kayne
  Anderson Capital Advisors, L.P., its

  general partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Kayne
  Anderson Investment Management,

  Inc., its
  general partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kayne
  Anderson MLP Fund, L.P.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Kayne
  Anderson MLP Fund, L.P.

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  KAYNE
  ANDERSON CAPITAL INCOME

  FUND, LTD.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Kayne
  Anderson Capital Advisors, L.P., its

  general partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Kayne
  Anderson Investment Management,

  Inc., its
  general partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kayne
  Anderson Capital Income Fund, LTD.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Kayne
  Anderson Capital Income Fund, LTD.

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  

 

 

	
   

  	
  KAYNE
  ANDERSON INCOME PARTNERS,

  L.P.

  
	
   

  	
   

  
	
   

  	
  By:

  	
  Kayne
  Anderson Capital Advisors, L.P., its

  general partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Kayne
  Anderson Investment Management,

  Inc., its
  general partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kayne
  Anderson Income Partners, L.P.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Kayne
  Anderson Income Partners, L.P.

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  TORTOISE ENERGY INFRASTRUCTURE

  CORPORATION

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ David J.
  Schulte

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  David J.
  Schulte

  	
   

  
	
   

  	
  Title:

  	
  President

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  ENERGY INCOME AND GROWTH FUND

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Roger
  Testin

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Roger Testin

  	
   

  
	
   

  	
  Title:

  	
  Vice
  President

  	
   

  

 

 

	
   

  	
  HFR RV PERFORMANCE MASTER TRUST

  
	
   

  	
   

  
	
   

  	
  By:

  	
  HFR RV
  Performance Master Trust

  	
  , its
  trustee

  
	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ HFR RV
  Performance Master Trust

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  HFR RV
  Performance Master Trust

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
					

 

 

Exhibit A – Form of Registration Rights
Agreement

 

See Attached

 

 

Exhibit B – Partnership Agreement and
Certificate of Limited Partnership

 

See Attached

 

 

Exhibit C – Form of Opinion of MarkWest
Counsel

 

See Attached

 

 

Schedule 2.01

 

 

Frank M. Semple

 

James G. Ivey

 

John C. Mollenkopf

 

Randy S. Nickerson

 

Andrew L. Schroeder

 

 

Schedule 2.02

 

 

	
  Purchaser

  	
   

  	
  Units

  Purchased

  	
   

  	
  Total

  Purchase Price

  	
   

  	
  Commitment Fee

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Kayne Anderson Energy Fund
  II, L.P.

  	
   

  	
  465,000

  	
   

  	
  $

  	
  16,042,500

  	
   

  	
  $

  	
  240,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Kayne Anderson Capital
  Income Partners (QP), L.P.

  	
   

  	
  17,000

  	
   

  	
  $

  	
  586,500

  	
   

  	
  $

  	
  9,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Kayne
  Anderson MLP Fund, L.P.

  	
   

  	
  72,000

  	
   

  	
  $

  	
  2,484,000

  	
   

  	
  $

  	
  37,500

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Kayne
  Anderson Capital Income Fund, Ltd.

  	
   

  	
  14,000

  	
   

  	
  $

  	
  483,000

  	
   

  	
  $

  	
  7,500

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Kayne
  Anderson Income Partners, L.P.

  	
   

  	
  6,000

  	
   

  	
  $

  	
  207,000

  	
   

  	
  $

  	
  3,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  HFR
  RV Performance Master Trust

  	
   

  	
  5,800

  	
   

  	
  $

  	
  200,100

  	
   

  	
  $

  	
  3,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Tortoise
  Energy Infrastructure Corporation

  	
   

  	
  579,710

  	
   

  	
  $

  	
  19,999,995

  	
   

  	
  $

  	
  300,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Energy Income and Growth
  Fund

  	
   

  	
  144,928

  	
   

  	
  $

  	
  5,000,016

  	
   

  	
  $

  	
  75,000

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  	
   

  
	
  Total

  	
   

  	
  1,304,438

  	
   

  	
  $

  	
  45,003,111

  	
   

  	
  $

  	
  675,000

  	
   

  

 

 

Schedule 2.03

 

 

MarkWest Texas GP, L.L.C.

 

MarkWest Energy Operating Company, L.L.C.

 

MarkWest Energy Appalachia, L.L.C.

 

Basin Pipeline, L.L.C.

 

MarkWest Michigan Pipeline Company, L.L.C.

 

MarkWest Western Oklahoma Gas Company, L.L.C.Exhibit 4.2

 

Execution Copy

 

REGISTRATION RIGHTS AGREEMENT

 

 

by and
among

 

MARKWEST
ENERGY PARTNERS, L.P.,

 

KAYNE
ANDERSON ENERGY FUND II, L.P.,

 

KAYNE ANDERSON CAPITAL INCOME
PARTNERS (QP), L.P.,

 

KAYNE ANDERSON MLP FUND, L.P.,

 

KAYNE ANDERSON CAPITAL INCOME
FUND, LTD.,

 

KAYNE ANDERSON INCOME PARTNERS,
L.P.,

 

HFR RV PERFORMANCE MASTER TRUST,

 

TORTOISE ENERGY INFRASTRUCTURE CORPORATION

 

AND

 

ENERGY
INCOME AND GROWTH FUND

 

 

REGISTRATION RIGHTS AGREEMENT

 

THIS REGISTRATION RIGHTS
AGREEMENT (this “Agreement”) is made and entered into as of July
    , 2004, by and among MARKWEST ENERGY PARTNERS, L.P. (“MarkWest”)
and each of KAYNE ANDERSON ENERGY FUND II, L.P. (“KAEF”), KAYNE ANDERSON CAPITAL INCOME PARTNERS (QP),
L.P. (“KACIP”), KAYNE ANDERSON MLP FUND, L.P. (“KAMLP”), KAYNE
ANDERSON CAPITAL INCOME FUND, LTD. (“KACIF”), KAYNE ANDERSON INCOME
PARTNERS, L.P. (“KAIP”), HFR RV PERFORMANCE MASTER TRUST (“HFR”)
(collectively, “Kayne Anderson”),  TORTOISE
ENERGY INFRASTRUCTURE CORPORATION (“Tortoise”) and ENERGY INCOME AND
GROWTH FUND (“Energy Income”) (each of KAEF, KACIP, KAMLP, KACIF, KAIP,
HFR, Tortoise and Energy Income a “Purchaser” and collectively, the “Purchasers”).  Capitalized terms used herein without
definition shall have the meanings given to them in the Purchase Agreement.

 

This Agreement is made in
connection with the Closing of the issuance and sale of the Purchased Units
pursuant to the Unit Purchase Agreement, dated as of July 29, 2004,
by and among MarkWest and the Purchasers (the “Purchase Agreement”).  MarkWest has agreed to provide the
registration and other rights set forth in this Agreement for the benefit of
the Purchasers pursuant to Section 2.05(d) of the Purchase Agreement. 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.  The terms set forth below are used herein as
so defined:

 

“Affiliate” means,
with respect to a specified Person, any other Person, directly or indirectly
controlling, controlled by or under direct or indirect common control with such
specified Person.  For purposes of this
definition, “control” (including, with correlative meanings, “controlling”,
“controlled by”, and “under common control with”) means the power to direct or
cause the direction of the management and policies of such Person, directly or
indirectly, whether through the ownership of voting securities, by contract or
otherwise.

 

“Business Day”
means any day other than a Saturday, Sunday, or a legal holiday for commercial
banks in Wilmington, Delaware.

 

“Closing” shall
have the meaning set forth in the Purchase Agreement.

 

“Commission” means
the United States Securities and Exchange Commission.

 

“Common Units”
means the common units of MarkWest.

 

1

 

“Effectiveness Period”
has the meaning specified therefor in Section 2.01(a) of this Agreement.

 

“Exchange Act”
shall mean the Securities Exchange Act of 1934, as amended, and the rules and
regulations of the Commission promulgated thereunder.

 

“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.

 

“MarkWest Hydrocarbon”
means MarkWest Hydrocarbon, Inc., a Delaware corporation.

 

“Person” means any
individual, corporation, company, voluntary association, partnership, joint
venture, trust, limited liability company, unincorporated organization,
government or any agency, instrumentality or political subdivision thereof, or
any other form of entity.

 

“Piggyback
Registration” has the meaning specified therefor in Section 2.02(a) of this
Agreement.

 

“Prior Holders”
means Tortoise MWEP, L.P., a Kansas limited partnership, and each investor a
party to the Registration Rights Agreement dated June 13, 2003 by and among
MarkWest and each party listed on Schedule A thereto.

 

“Purchase Agreement”
has the meaning specified therefor in the introductory paragraph of this
Agreement.

 

“Purchased Units”  shall have the meaning set forth in the
Purchase Agreement.

 

“Purchasers” has
the meaning specified therefor in the introductory paragraph of this Agreement.

 

“Registrable
Securities” means the Common Units comprising the Purchased Units until
such time as such securities cease to be Registrable Securities pursuant to
Section 1.02 hereof.

 

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

 

“Securities Act”
means the Securities Act of 1933, as amended, 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.

 

2

 

“Selling Holder”
means a Holder who is selling Registrable Securities pursuant to a registration
statement.

 

“Shelf Registration”
has the meaning specified therefor in Section 2.01(a) of this Agreement.

 

“Shelf Registration
Statement” has the meaning specified therefor in Section 2.01(a) of this
Agreement.

 

“Underwritten Offering”
means an offering (including an offering pursuant to a Shelf Registration
Statement) 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 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); or (c) such Registrable Security is held by MarkWest
or one of its subsidiaries.  Except for
the rights and obligations under Section 2.08 herein, all rights and
obligations of each Purchaser under this Agreement, and all rights and
obligations of MarkWest under this Agreement with respect to such Purchaser,
shall terminate when such Purchaser is no longer a Holder

 

ARTICLE
II.

REGISTRATION
RIGHTS

 

Section 2.01           Shelf Registration.

 

(a) Shelf
Registration.  As soon as practicable
following the Closing of the purchase of the Purchased Units pursuant to the
terms of the Purchase Agreement, but in any event within 120 days of the
Closing, MarkWest shall prepare and file a registration statement under the
Securities Act to permit the public resale of the Registrable Securities from
time to time as permitted by Rule 415 of the Securities Act (the “Shelf
Registration Statement”).  MarkWest
shall use its commercially reasonable efforts to cause the Shelf Registration
Statement to become effective no later than 180 days after the date of the
Closing (the “Shelf Registration”). 
A Shelf Registration Statement filed pursuant to this Section 2.01(a)
shall be on such appropriate registration form of the Commission as shall be
selected by MarkWest; provided, however, that if a prospectus
supplement will be used in connection with the marketing of an Underwritten
Offering from the Shelf Registration Statement and the Managing Underwriter at
any time shall notify MarkWest in writing that, in the sole judgment of such
Managing Underwriter, inclusion of detailed information to be used in such
prospectus supplement is of material importance to the success of the
Underwritten Offering of such Registrable Securities, MarkWest shall use its
commercially reasonable efforts to include such information in the
prospectus.  MarkWest will cause the
Shelf Registration Statement filed

 

3

 

pursuant to this Section 2.01(a) to be continuously effective,
supplemented and amended to the extent necessary to assure that it is available
for resale of all Registrable Securities by the Holders and that it conforms in
all material respects with the requirements of the Securities Act during the
entire period beginning on the date the Shelf Registration Statement first is
declared effective under the Securities Act and ending on the earlier to occur
of (i) the date all Registrable Securities covered by the Shelf Registration
Statement have been distributed in the manner set forth and as contemplated in
the Shelf Registration Statement and (ii) the date on which the Registrable
Securities cease to be Registrable Securities hereunder in accordance with
Section 1.02 (the “Effectiveness Period”).  The Shelf Registration Statement when
declared effective (including the documents incorporated therein by reference)
will comply as to form with all applicable requirements of the Securities Act
and the Exchange Act and will not contain 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.  

 

(b) Delay Rights.  Notwithstanding anything to the contrary
contained herein, MarkWest may, upon written notice to any Selling Holder whose
Registrable Securities are included in the Shelf Registration Statement,
suspend such Selling Holder’s use of any prospectus which is a part of the
Shelf Registration Statement (in which event the Selling Holder shall
discontinue sales of the Registrable Securities pursuant to the Shelf
Registration Statement), for a period not to exceed an aggregate of 60 days in
any 180-day period and not to exceed an aggregate of 90 days in any 365-day
period, if (i) MarkWest is pursuing a material acquisition, merger,
reorganization, disposition or other similar transaction and MarkWest
determines in good faith that MarkWest’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 (ii) MarkWest has
experienced some other material non-public event the disclosure of which at
such time, in the good faith judgment of MarkWest, would materially adversely
affect MarkWest.  Upon disclosure of such
information or the termination of the condition described above, MarkWest shall
provide prompt notice to the Selling Holders 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 Registration.

 

(a) Participation.  If MarkWest, MarkWest Hydrocarbon or any
subsidiary of MarkWest Hydrocarbon at any time proposes to (i) file a
prospectus supplement to an effective shelf registration statement with respect
to an Underwritten Offering of Common Units for its own account or (ii) register
any Common Units for its own account for sale to the public in an Underwritten
Offering other than, in the case of clause (ii), (a) a registration
relating solely to employee benefit plans, (b) a registration relating
solely to a Rule 145 transaction, or (c) a registration on any
registration form which does not permit secondary sales or does not include
substantially the same information as would be required to be included in a
registration statement covering the sale of Registrable Securities, then, as
soon as practicable following the engagement of counsel by MarkWest to prepare
the documents to be used in connection with an Underwritten Offering, MarkWest
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 as each such Holder
may request in writing (a “Piggyback

 

4

 

Registration”); provided, however,
that MarkWest shall not be required to offer such opportunity to Holders to the
extent MarkWest has been advised in writing by the Managing Underwriter that
the inclusion of Registrable Securities for sale for the benefit of the Holders
will have an adverse effect on the price, timing or distribution of the Common
Units.  Each Holder of Registrable
Securities acknowledges for purposes of clause (ii) that its Registrable
Securities are not covered by MarkWest’s existing registration statement on
Form S-3 (File No. 333-116680) and MarkWest shall have no obligation to include
such Registrable Securities in such registration statement, by post-effective
amendment or otherwise; provided, however, that if a registration statement
covering the Registrable Securities is effective and a prospectus supplement
relating to the Form S-3 (File No. 333-116680) described above has been
proposed with respect to an Underwritten Offering, the Holders shall be
entitled to notice and the opportunity to include in such Underwritten Offering,
pursuant to the registration statement covering the Registrable Securities,
such number of Registrable Securities as each such Holder may request in
writing, subject to the other terms and conditions of this Section 2.02(a).  Subject to Section 2.02(b), MarkWest
shall include in such Underwritten Offering all such Registrable Securities (“Included
Registrable Securities”) with respect to which MarkWest has received
requests within one Business Day after MarkWest’s notice has been delivered in
accordance with Section 3.01.  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 Piggyback
Registration.  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, MarkWest shall
determine for any reason not to undertake or to delay such Underwritten
Offering, MarkWest may, at its election, give written notice of such determination
to the Selling Holders and, (i) in the case of a determination not to
undertake such Underwritten Offering, shall be relieved of its obligation to
sell any Included Registrable Securities in connection with such terminated
Underwritten Offering, and (ii) 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 MarkWest of such withdrawal up to
and including the time of pricing of such offering.

 

(b)           Priority of Piggyback Registration.   If the Managing Underwriter or Underwriters
of any proposed Underwritten Offering of Common Units included in a Piggyback
Registration advises MarkWest in writing that the total amount of Common Units
which the Selling Holders and any other Persons intend to include in such
offering exceeds the number which 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
MarkWest can be sold without having such adverse effect, with such number to be
allocated pro  rata among the Selling Holders and Prior Holders
who have requested participation in the Piggyback Registration (based, for each
such Selling Holder or Prior Holder, as applicable, on the percentage derived
by dividing (A) the number of Registrable Securities proposed to be sold by
such Selling Holder or Prior Holder in such offering; by (B) the aggregate
number of Common Units proposed to be sold by the Selling Holders and Prior
Holders participating in the Piggyback Registration to be included in such
offering).

 

5

 

(c)           Termination of Piggyback
Registration Rights.  The Piggyback
Registration rights granted pursuant to this Section 2.02 shall be unlimited in
number and shall terminate the later of (i) two years following the Closing
Date under the Purchase Agreement and (ii) the date on which all Registrable
Securities cease to be Registrable Securities hereunder in accordance with
Section 1.02.

 

Section 2.03           Underwritten Offering.

 

(a) Shelf
Registration.  In the event that one
or more Selling Holders elect to dispose of Registrable Securities under the
Shelf Registration Statement pursuant to an Underwritten Offering and such
Selling Holders reasonably anticipate gross proceeds from such Underwritten
Offering of at least $10 million, MarkWest shall 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 in order to expedite or
facilitate the registration and disposition of the Registered Securities;
provided, however, that MarkWest shall be required to cause appropriate
officers of MarkWest or its Affiliates to participate in a “road show” or
similar marketing effort being conducted by such underwriter with respect to
such Underwritten Offering only if the Selling Holders reasonably anticipate
gross proceeds from such Underwritten Offering of at least $20 million.

 

(b) General
Procedures.  In connection with any
Underwritten Offering under this Agreement (except for Underwritten Offerings
pursuant to Section 2.03(a)), MarkWest shall be entitled to select the Managing
Underwriter or Underwriters, each of which must be a nationally-recognized
firm.  In the case of an Underwritten
Offering pursuant to Section 2.03(a) hereof, the Selling Holders in such
Underwritten Offering shall be entitled to select the Managing Underwriter or
Underwriters, each of which must be a nationally recognized firm.  In connection with an Underwritten Offering
under Section 2.01 or 2.02 hereof, each Selling Holder and MarkWest shall be
obligated to enter into an underwriting agreement which contains such
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, MarkWest 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 MarkWest 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 MarkWest and the Managing Underwriter; provided,
however, that such withdrawal must be made prior to the time in the
final sentence of Section 2.02(a)

 

6

 

hereof to be effective.  No such
withdrawal or abandonment shall affect MarkWest’s obligation to pay
Registration Expenses.

 

Section 2.04           Registration Procedures.  In connection with its obligations contained
in Sections 2.01, 2.02 and 2.03, MarkWest will, as expeditiously as possible:

 

(a)           prepare and file with the Commission
such amendments and supplements to the Shelf Registration Statement and the
prospectus used in connection therewith as may be necessary to keep the Shelf
Registration Statement effective for the Effectiveness Period 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 Underwriter, shall reasonably request, provided that
MarkWest 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; 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;

 

7

 

(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 MarkWest 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,
MarkWest 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)            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, furnish upon request, (i) an opinion of counsel for MarkWest, dated the effective date of the applicable
registration statement or the date of any amendment or supplement thereto, and
a letter of like kind dated the date of the closing under the underwriting
agreement, and (ii) a “cold comfort” letter, dated the effective date of the applicable registration statement or the
date of any amendment or supplement thereto and a letter of like kind dated the
date of the closing under the underwriting agreement, in each case, signed
by the independent public accountants who have certified MarkWest’s financial
statements included or incorporated by reference into the applicable
registration statement, and each of the opinion and the “cold comfort” letter
shall be in customary form and covering substantially the same matters with
respect to such registration statement (and the prospectus and any prospectus
supplement included therein) and as are customarily covered in opinions of
issuer’s counsel and in accountants’ letters delivered to the underwriters in
Underwritten Offerings of securities, such other matters as such underwriters
may reasonably request;

 

(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 covering the period of at least 12 months,
but not more than 18 months, beginning with the first full calendar month after
the effective date of such registration 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 MarkWest personnel as is

 

8

 

reasonable and customary to enable such parties to establish a due
diligence defense under the Securities Act; provided that MarkWest need not
disclose any information to any such representative unless and until such
representative has entered into a confidentiality agreement with MarkWest;

 

(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 MarkWest 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 MarkWest 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 registration statement
not later than the effective date of such 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 MarkWest 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
MarkWest 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 MarkWest, such Selling Holder will, or will
request the managing underwriter or underwriters, if any, to deliver to
MarkWest (at MarkWest’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.  MarkWest shall have no obligation to include
in the Shelf Registration Statement units of a Holder or in a Piggyback
Registration units of a Selling Holder who has failed to timely furnish such
information which, in the opinion of counsel to MarkWest, 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 the Shelf
Registration Statement agrees not to effect any public sale or distribution of
the Registrable Securities during the 90 calendar day period beginning on the
date of a prospectus supplement filed with the Commission with respect to the
pricing of an Underwritten Offering, provided 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 MarkWest on whom a restriction is imposed; provided,
however, that the restrictions under this Section 2.06 shall not

 

9

 

apply to any Holder if such Holder, along with its Affiliates,
beneficially owns (in the aggregate) less than 5% of the outstanding Common Units.

 

Section 2.07           Expenses.

 

(a)           Certain Definitions.  “Registration Expenses” means all
expenses incident to MarkWest’s performance under or compliance with this
Agreement to effect the registration of Registrable Securities in a Shelf
Registration or a Piggyback Registration, or otherwise pursuant to Section
2.03, and the disposition of such securities, including, without limitation,
all registration, filing, securities exchange listing and American Stock
Exchange 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
MarkWest, 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, MarkWest shall not be responsible for legal fees incurred by Holders in
connection with the exercise of such Holders’ rights hereunder.  In addition, MarkWest 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.  MarkWest will pay all Registration Expenses
in connection with the Shelf Registration Statement filed pursuant to Section
2.01(a) of this Agreement, and MarkWest will pay all Registration Expenses in
connection with a Piggyback Registration, whether or not the applicable
registration statement becomes effective or any sale is made pursuant to the
Shelf Registration Statement or Piggyback Registration. Each Selling Holder
shall pay all Selling Expenses in connection with any sale of its Registrable
Securities hereunder.

 

Section 2.08           Indemnification.

 

(a)           By MarkWest.  In the event of a registration of any
Registrable Securities under the Securities Act pursuant to this Agreement,
MarkWest will indemnify and hold harmless each Selling Holder thereunder, its
Affiliates and their respective directors and officers, 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 (collectively, the “Selling Holder Indemnified Persons”), against
any losses, claims, damages, expenses or liabilities (including reasonable
attorneys’ fees and expenses) (collectively, “Losses”), joint or
several, to which such Selling Holder Indemnified 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

 

10

 

reimburse each such Selling Holder Indemnified 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 MarkWest 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 Indemnified 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 Indemnified 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 MarkWest, its Affiliates and their
respective directors and officers, and each Person, if any, who controls
MarkWest within the meaning of the Securities Act or of the Exchange Act to the
same extent as the foregoing indemnity from MarkWest 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
Shelf 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, 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 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 

 

11

 

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 MarkWest or any Selling Holder 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 Losses as between
MarkWest on the one hand and such Selling Holder on the other, in such
proportion as is appropriate to reflect the relative fault of MarkWest on the
one hand and of such Selling Holder 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 such 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 MarkWest on the one hand and each Selling Holder 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 in the first
sentence of this paragraph.  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.

 

(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, MarkWest agrees
to use its commercially reasonable efforts to:

 

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

 

12

 

(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 MarkWest, 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 MarkWest to register Registrable Securities granted to the
Purchasers by MarkWest under this Article II may be transferred or assigned by
the Purchasers to one or more transferee(s) or assignee(s) of such Registrable
Securities, provided that (a) unless such transferee is an Affiliate of the
transferring Purchaser, each such transferee or assignee holds Registrable
Securities representing at least 15% of the total number of Purchased Units
sold pursuant to the terms of the Purchase Agreement, (b) MarkWest is given
written notice prior to any said transfer or assignment, stating the name and
address of each such transferee and identifying the securities with respect to
which such registration rights are being transferred or assigned, and (c) each
such transferee assumes in writing responsibility for its portion of the
obligations of the Purchasers under this Agreement.

 

ARTICLE III.

MISCELLANEOUS

 

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

 

(a)           if to the Purchasers, at the most
current addresses given by the Purchasers to MarkWest in accordance with the
provisions of this Section 3.01, which addresses initially are, with respect to
the Purchasers, the addresses set forth in the Purchase Agreement,

 

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

 

(c)           if to MarkWest, at 155 Inverness
Drive West, Suite 200, Englewood, CO  80112, 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
any other means.

 

Section 3.02           Successor and Assigns.  This Agreement shall inure to the benefit of
and be binding upon the successors and 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 the Purchasers under this Agreement may be transferred or
assigned by the Purchasers in accordance with Section 2.10 hereof.

 

Section 3.04           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

 

13

 

all units of MarkWest or any successor or assign of MarkWest (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 3.05           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 3.06           Counterparts.  This Agreement may be executed in any number
of 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 3.07           Headings.  The headings in this Agreement are for
convenience of reference only and shall not limit or otherwise affect the
meaning hereof.

 

Section 3.08           Governing Law.  The laws of the State of Delaware shall
govern this Agreement without regard to principles of conflict of laws.

 

Section 3.09           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 3.10           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 MarkWest set forth herein.  This
Agreement supersedes all prior agreements and understandings between the
parties with respect to such subject matter.

 

Section 3.11           Amendment.  This Agreement may be amended only by means
of a written amendment signed by MarkWest 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 3.12           No Presumption.  In the event any
claim is made by a party relating to any conflict, omission, or ambiguity in
this Agreement, no presumption or burden of proof or

 

14

 

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.

 

[The remainder of this
page is intentionally left blank.]

 

15

 

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

 

	
   

  	
  MARKWEST ENERGY PARTNERS, LP.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  MarkWest Energy GP, L.L.C.,

  
	
   

  	
   

  	
  its general partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ MarkWest Energy Partners, L.P.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  MarkWest Energy Partners, L.P.

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  KAYNE ANDERSON ENERGY FUND II, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  KAEFTX, L.P., its general partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Kayne Anderson Capital Advisors, L.P., its general

  partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Kayne Anderson Investment Management, Inc., its

  general partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kayne Anderson Energy Fund II, L.P.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Kayne Anderson
  Energy Fund II, L.P.

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  KAYNE ANDERSON CAPITAL INCOME

  PARTNERS (QP), L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Kayne Anderson Capital Advisors, L.P., its general

  partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Kayne Anderson Investment Management, Inc., its

  general partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kayne Anderson Capital Income Partners (QP),
  L.P.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Kayne Anderson Capital Income Partners (QP), L.P.

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
					

 

 

	
   

  	
  KAYNE ANDERSON MLP FUND, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Kayne Anderson Capital Advisors, L.P., its general

  partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Kayne Anderson Investment Management, Inc., its

  general partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kayne Anderson MLP Fund, L.P.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Kayne Anderson MLP Fund, L.P.

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  KAYNE ANDERSON CAPITAL INCOME FUND,

  LTD.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Kayne Anderson Capital Advisors, L.P., its general

  partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Kayne Anderson Investment Management, Inc., its

  general partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kayne Anderson Capital Income Fund, LTD.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Kayne Anderson Capital Income Fund, LTD.

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  KAYNE ANDERSON INCOME PARTNERS, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Kayne Anderson Capital Advisors, L.P., its general

  partner

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  Kayne Anderson Investment Management, Inc., its

  general partner

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Kayne Anderson Income Partners, L.P.

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Kayne Anderson Income Partners, L.P.

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  
						

 

 

	
   

  	
  TORTOISE ENERGY
  INFRASTRUCTURE

  CORPORATION

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ David J. Schulte

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  David J. Schulte

  
	
   

  	
  Title:

  	
  President

  
	
   

  	
   

  	
   

  
	
   

  	
  ENERGY INCOME AND GROWTH FUND

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ Energy Income and Growth Fund

  	
   

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
  Name:

  	
  Energy Income and Growth Fund

  	
   

  
	
   

  	
  Title:

  	
   

  	
   

  

 

 

	
   

  	
  HFR RV PERFORMANCE MASTER TRUST

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  HFR RV Performance Master Trust

  	
  , its trustee

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
  /s/ HFR RV Performance Master Trust

  	
   

  
	
   

  	
  Name:

  	
  HFR RV Performance Master Trust

  	
   

  
	
   

  	
  Title:

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00071-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00071-of-00352.parquet"}]]