Document:

exv10w4

Exhibit 10.4

REGISTRATION RIGHTS AGREEMENT

BY AND AMONG

BUCKEYE PARTNERS, L.P.

AND

THE INVESTORS NAMED ON SCHEDULE A HERETO

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 

	ARTICLE I DEFINITIONS	 	 	1	 
	 
	 	 	 	 	 	 
	Section 1.01
	 	Definitions	 	 	1	 
	Section 1.02
	 	Registrable Securities	 	 	3	 
	 
	 	 	 	 	 	 
	ARTICLE II REGISTRATION RIGHTS	 	 	4	 
	 
	 	 	 	 	 	 
	Section 2.01
	 	Registration	 	 	4	 
	Section 2.02
	 	Piggyback Rights	 	 	5	 
	Section 2.03
	 	Delay Rights	 	 	7	 
	Section 2.04
	 	Underwritten Offerings	 	 	8	 
	Section 2.05
	 	Sale Procedures	 	 	9	 
	Section 2.06
	 	Cooperation by Holders	 	 	12	 
	Section 2.07
	 	Restrictions on Public Sale by Holders of Registrable Securities	 	 	12	 
	Section 2.08
	 	Expenses	 	 	12	 
	Section 2.09
	 	Indemnification	 	 	13	 
	Section 2.10
	 	Rule 144 Reporting	 	 	15	 
	Section 2.11
	 	Transfer or Assignment of Registration Rights	 	 	15	 
	Section 2.12
	 	Limitation on Subsequent Registration Rights	 	 	16	 
	 
	 	 	 	 	 	 
	ARTICLE III MISCELLANEOUS	 	 	16	 
	 
	 	 	 	 	 	 
	Section 3.01
	 	Communications	 	 	16	 
	Section 3.02
	 	Successor and Assigns	 	 	16	 
	Section 3.03
	 	Assignment of Rights	 	 	17	 
	Section 3.04
	 	Recapitalization, Exchanges, Etc. Affecting the Units	 	 	17	 
	Section 3.05
	 	Aggregation of Registrable Securities	 	 	17	 
	Section 3.06
	 	Specific Performance	 	 	17	 
	Section 3.07
	 	Counterparts	 	 	17	 
	Section 3.08
	 	Headings	 	 	17	 
	Section 3.09
	 	Governing Law	 	 	17	 
	Section 3.10
	 	Severability of Provisions	 	 	17	 
	Section 3.11
	 	Entire Agreement	 	 	17	 
	Section 3.12
	 	Amendment	 	 	18	 
	Section 3.13
	 	No Presumption	 	 	18	 
	Section 3.14
	 	Obligations Limited to Parties to Agreement	 	 	18	 
	Section 3.15
	 	Interpretation	 	 	18	 
	 
	 	 	 	 	 	 
	Schedule A — Investor List; Notice and Contact Information; Opt-Out	 	 	 	 

 

 

REGISTRATION RIGHTS AGREEMENT

     This REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and entered into as of
December 18, 2010, by and among Buckeye Partners, L.P., a Delaware limited partnership (the
“Partnership”), and each of the Persons set forth on Schedule A to this Agreement
(each, an “Investor” and collectively, the “Investors”).

     WHEREAS, this Agreement is made in connection with the entry into the Unit Purchase Agreement,
dated on or prior to the date hereof, by and between the Partnership and First Reserve (the
“First Reserve Unit Purchase Agreement”) and the Unit Purchase Agreement, dated on or prior
to the date hereof, by and among the Partnership and each of the Persons set forth on Schedule A
thereto, providing for the issuance of Class B Units (the “PIPE (Class B) Unit Purchase
Agreement” and together with the First Reserve Unit Purchase Agreement, the “Unit Purchase
Agreements”); and

     WHEREAS, the Partnership has agreed to provide the registration and other rights set forth in
this Agreement for the benefit of the Investors pursuant to the Unit Purchase Agreements.

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

ARTICLE I

DEFINITIONS

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

     “Affiliate” means, with respect to any Person, any other Person that directly or
indirectly through one or more intermediaries controls, is controlled by or is under common control
with, the Person in question. As used herein, the term “control” means the possession, direct or
indirect, of the power to direct or cause the direction of the management and policies of a Person,
whether through ownership of voting securities, by contract or otherwise.

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

     “ArcLight/Kelso Registration Rights Agreement” means that certain Registration Rights
Agreement, by and among Buckeye, BGH GP Holdings, LLC, ArcLight Energy Partners Fund III, L.P.,
ArcLight Energy Partners Fund IV, L.P., Kelso Investment Associates VII, L.P. and KEP VI, LLC,
dated as of June 10, 2010.

     “Class B Unit Price” means $57.04.

     “Commission” means the U.S. Securities and Exchange Commission.

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     “Consideration Units” has the meaning specified in the First Reserve Unit Purchase
Agreement.

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

     “Existing Registration Rights Agreements” means, collectively, (a) that certain
Registration Rights Agreement by and among the parties to the PIPE (LP) Unit Purchase Agreement,
dated as of the date hereof, and (b) the ArcLight/Kelso Registration Rights Agreement.

     “First Reserve” means FR XI Offshore AIV, L.P., an exempted limited partnership formed
under the laws of the Cayman Islands.

     “First Reserve Unit Purchase Agreement” has the meaning specified therefor in the
recitals of this Agreement.

     “General Partner” means Buckeye GP LLC, a Delaware limited liability company.

     “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.

     “Investor” and “Investors” have the meanings specified therefor in the
introductory paragraph of this Agreement.

     “Liquidated Damages” has the meaning specified therefor in Section 2.01(b) of
this Agreement.

     “Liquidated Damages Multiplier” means the product of the LP Unit Price times the
number of Purchased Units issued to such Investor and that may not be disposed of without
restriction pursuant to any section of Rule 144 (or any similar provision then in effect) under the
Securities Act.

     “Losses” has the meaning specified therefor in Section 2.09(a) of this
Agreement.

     “LP Unit Price” has the meaning assigned to such term in the PIPE (LP) Unit Purchase
Agreement.

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

     “Opt-Out Notice” has the meaning specified therefor in Section 2.02(a) of this
Agreement.

     “Parity Securities” has the meaning specified therefor in Section 2.02(b) of
this Agreement.

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

     “Person” means an individual or a corporation, limited liability company, partnership,
joint venture, trust, unincorporated organization, association, government agency or political
subdivision thereof or other entity.

     “PIPE (Class B) Unit Purchase Agreement” has the meaning specified therefor in the
recitals of this Agreement.

     “Purchased Class B Units” has the meaning specified for “Purchased Units” in the PIPE
(Class B) Unit Purchase Agreement.

     “Purchased Units” means, with respect to First Reserve, the Consideration Units and,
with respect to all other Investors, the Purchased Class B Units.

     “Registrable Securities” means (i) the Purchased Units to be acquired by the Investors
pursuant to the Unit Purchase Agreements, (ii) LP Units issued upon the conversion of the Class B
Units, (iii) Class B Units issued on the Class B Units as a distribution in kind in lieu of cash
distributions and (iv) any LP Units issued as Liquidated Damages pursuant to Section
2.01(b) of this Agreement.

     “Registration Expenses” has the meaning specified therefor in Section 2.08(b)
of this Agreement.

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

     “Selling Expenses” has the meaning specified therefor in Section 2.08(b) of
this Agreement.

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

     “Selling Holder Indemnified Persons” has the meaning specified therefor in Section
2.09(a) of this Agreement.

     “Underwritten Offering” means an offering (including an offering pursuant to a
Registration Statement) in which LP 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.

     “Unit Purchase Agreements” has the meaning specified therefor in the recitals of this
Agreement.

     Section 1.02 Registrable Securities. Any Registrable Security will cease to be a
Registrable Security (a) when a registration statement covering such Registrable Security becomes
or has been declared effective by the Commission and such Registrable Security has

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been sold or disposed of pursuant to such effective registration statement; (b) when such
Registrable Security has been disposed of pursuant to any section of Rule 144 (or any similar
provision then in effect) under the Securities Act; (c) when such Registrable Security is held by
the Partnership or one of its subsidiaries or Affiliates; (d) when such Registrable Security has
been sold or disposed of in a private transaction in which the transferor’s rights under this
Agreement are not assigned to the transferee of such securities pursuant to Section 2.11
hereof or (e) one year following their issuance as LP Units, including the issuance of LP Units as
Liquidated Damages and the issuance of LP Units upon conversion of Class B Units.

ARTICLE II

REGISTRATION RIGHTS

     Section 2.01 Registration.

     (a) Effectiveness Deadline. Following the date hereof, but no later than fifteen (15)
days following the Closing Date, the Partnership shall prepare and file a registration statement
(the “Registration Statement”) under the Securities Act with respect to all of the
Registrable Securities. The 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 the
Partnership. The Partnership shall use its commercially reasonable efforts to cause the
Registration Statement to become effective on or as soon as practicable after the Closing Date. Any
Registration Statement shall provide for the resale pursuant to any method or combination of
methods legally available to, and requested by, the Holders of any and all Registrable Securities
covered by such Registration Statement. The Partnership shall use its commercially reasonable
efforts to cause the Registration Statement filed pursuant to this Section 2.01(a) to be
effective, supplemented and amended to the extent necessary to ensure that it is available for the
resale of all Registrable Securities by the Holders until all Registrable Securities covered by
such Registration Statement have ceased to be Registrable Securities (the “Effectiveness
Period”). The Registration Statement when effective (including the documents incorporated
therein by reference) will comply as to form in all material respects 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 (in the case of any prospectus contained in such Registration
Statement, in the light of the circumstances under which a statement is made). As soon as
practicable following the date that the Registration Statement becomes effective, but in any event
within two (2) Business Days of such date, the Partnership shall provide the Holders with written
notice of the effectiveness of the Registration Statement.

     (b) Failure to Go Effective. If the Registration Statement required by Section
2.01(a) is not declared effective within one hundred eighty (180) days after the Closing Date,
then each Holder shall be entitled to a payment (with respect to the Purchased Units of each such
Holder), as liquidated damages and not as a penalty, of 0.25% of the Liquidated Damages Multiplier
per thirty (30)-day period, that shall accrue daily, for the first sixty (60) days following the
180th day, increasing by an additional 0.25% of the Liquidated Damages Multiplier per thirty
(30)-day period, that shall accrue daily, for each subsequent thirty (30) days, up to a maximum of
1.00% of the Liquidated Damages Multiplier per thirty (30)-day period (the “Liquidated
Damages”); provided, however, the aggregate amount of Liquidated Damages payable by the
Partnership

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under this Agreement to each Holder shall not exceed 5.00% of the Liquidated Damages
Multiplier with respect to such Holder. The Liquidated Damages payable pursuant to the immediately
preceding sentence shall be payable within ten (10) Business Days after the end of each such thirty
(30)-day period. Any Liquidated Damages shall be paid to each Holder in immediately available
funds; provided, however, if the Partnership certifies that it is unable to pay Liquidated Damages
in cash because such payment would result in a breach under a credit facility or other debt
instrument, then the Partnership may pay the Liquidated Damages in kind in the form of the issuance
of additional LP Units. Upon any issuance of LP Units as Liquidated Damages, the Partnership shall
promptly (i) prepare and file an amendment to the Registration Statement prior to its effectiveness
adding such LP Units to such Registration Statement as additional Registrable Securities and (ii)
prepare and file a supplemental listing application with the NYSE to list such additional LP Units.
The determination of the number of LP Units to be issued as Liquidated Damages shall be equal to
the amount of Liquidated Damages divided by the volume-weighted average closing price of the LP
Units on the NYSE for the ten (10) trading days immediately preceding the date on which the
Liquidated Damages payment is due, less a discount to such average closing price of 2.00%. The
payment of Liquidated Damages to a Holder shall cease at the earlier of (i) the Registration
Statement becoming effective or (ii) the Purchased Units of such Holder becoming eligible for
resale without restriction under any section of Rule 144 (or any similar provision then in effect)
under the Securities Act, assuming that each Holder is not an Affiliate of the Partnership, and any
payment of Liquidated Damages shall be prorated for any period of less than thirty (30) days in
which the payment of Liquidated Damages ceases. If the Partnership is unable to cause a
Registration Statement to go effective within one hundred eighty (180) days after the Closing Date
as a result of an acquisition, merger, reorganization, disposition or other similar transaction,
then the Partnership may request a waiver of the Liquidated Damages, and each Holder may
individually grant or withhold its consent to such request in its discretion.

     Section 2.02 Piggyback Rights.

     (a) Participation. In the event those Registrable Securities that are LP Units may
not be disposed of without restriction pursuant to any section of Rule 144 (or any similar
provision then in effect) under the Securities Act, if the Partnership proposes to file (i) a shelf
registration statement other than the Registration Statement contemplated by Section
2.01(a), (ii) a prospectus supplement to an effective shelf registration statement, other than
the Registration Statement contemplated by Section 2.01(a) of this Agreement and Holders
may be included without the filing of a post-effective amendment thereto, or (iii) a registration
statement, other than a shelf registration statement, in each case, for the sale of LP Units in an
Underwritten Offering for its own account and/or another Person, then as soon as practicable
following the engagement of counsel by the Partnership to prepare the documents to be used in
connection with an Underwritten Offering, the Partnership shall give notice (including, but not
limited to, notification by electronic mail) of such proposed Underwritten Offering to each Holder
(together with its Affiliates) holding at least $10.0 million of the then-outstanding Registrable
Securities that are LP Units (based on the LP Unit Price) and such notice shall offer such Holders
the opportunity to include in such Underwritten Offering such number of Registrable Securities that
are LP Units (the “Included Registrable Securities”) as each such Holder may request in
writing; provided, however, that if the Partnership has been advised by the Managing Underwriter
that the inclusion of such Registrable Securities for sale for the benefit of the Holders will have
an

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adverse effect on the price, timing or distribution of the LP Units in the Underwritten
Offering, then (A) the Partnership shall not be required to offer such opportunity to the Holders
or (B) if any Registrable Securities that are LP Units can be included in the Underwritten Offering
in the opinion of the Managing Underwriter, then the amount of such Registrable Securities to be
offered for the accounts of Holders shall be determined based on the provisions of Section
2.02(b). Any notice required to be provided in this Section 2.02(a) to Holders shall
be provided on a Business Day pursuant to Section 3.01 hereof and receipt of such notice
shall be confirmed by the Holder. Each such Holder shall then have two (2) Business Days (or one
(1) Business Day in connection with any overnight or bought Underwritten Offering) after notice has
been delivered to request in writing the inclusion of those Registrable Securities that are LP
Units in the Underwritten Offering. If no written request for inclusion from a Holder is received
within the specified time, each such Holder shall have no further right to participate in such
Underwritten Offering. If, at any time after giving written notice of its intention to undertake
an Underwritten Offering and prior to the closing of such Underwritten Offering, the Partnership
shall determine for any reason not to undertake or to delay such Underwritten Offering, the
Partnership may, at its election, give written notice of such determination to the Selling Holders
and, (x) in the case of a determination not to undertake such Underwritten Offering, shall be
relieved of its obligation to sell any Included Registrable Securities in connection with such
terminated Underwritten Offering, and (y) in the case of a determination to delay such Underwritten
Offering, shall be permitted to delay offering any Included Registrable Securities for the same
period as the delay in the Underwritten Offering. Any Selling Holder shall have the right to
withdraw such Selling Holder’s request for inclusion of such Selling Holder’s Registrable
Securities in such Underwritten Offering by giving written notice to the Partnership of such
withdrawal at or prior to the time of pricing of such Underwritten Offering. Any Holder may
deliver written notice (an “Opt-Out Notice”) to the Partnership requesting that such Holder
not receive notice from the Partnership of any proposed Underwritten Offering; provided, however,
that such Holder may later revoke any such Opt-Out Notice in writing. Following receipt of an
Opt-Out Notice from a Holder (unless subsequently revoked), the Partnership shall not be required
to deliver any notice to such Holder pursuant to this Section 2.02(a) and such Holder shall
no longer be entitled to participate in Underwritten Offerings by the Partnership pursuant to this
Section 2.02(a). The Holders indicated on Schedule A hereto shall each be deemed
to have delivered an Opt-Out Notice as of the date hereof.

     (b) Priority. If the Managing Underwriter or Underwriters of any proposed
Underwritten Offering advises the Partnership that the total amount of Registrable Securities that
the Selling Holders and any other Persons intend to include in such offering exceeds the number
that can be sold in such offering without being likely to have an adverse effect on the price,
timing or distribution of the LP Units offered or the market for the LP Units, then the LP Units to
be included in such Underwritten Offering shall include the number of those Registrable Securities
that are LP Units that such Managing Underwriter or Underwriters advises the Partnership can be
sold without having such adverse effect, with such number to be allocated (i) first, to the
Partnership and, if applicable, to those holders of Parity Securities who initiated the
Underwritten Offering pursuant to rights granted such holders under the ArcLight/Kelso Registration
Rights Agreement and (ii) second, pro rata among the Selling Holders who have requested
participation in such Underwritten Offering and, except as provided in clause (i), any other holder
of securities of the Partnership having rights of registration that are neither expressly senior
nor subordinated to the Registrable Securities (the “Parity Securities”). As of the date

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hereof, Parity Securities include securities of the Partnership covered by the Existing
Registration Rights Agreements. The pro rata allocations for each Selling Holder who has requested
participation in such Underwritten Offering shall be the product of (a) the aggregate number of
those Registrable Securities that are LP Units proposed to be sold in such Underwritten Offering
multiplied by (b) the fraction derived by dividing (x) the number of those Registrable Securities
that are LP Units owned on the Closing Date by such Selling Holder by (y) the aggregate number of
those Registrable Securities that are LP Units owned on the Closing Date by all Selling Holders
plus the aggregate number of Parity Securities owned on the Closing Date by all holders of Parity
Securities that are participating in the Underwritten Offering.

     (c) Termination of Piggyback Registration Rights. Each Holder’s rights under
Section 2.02 shall terminate upon such Holder (together with its Affiliates) ceasing to
hold at least $10.0 million of those Registrable Securities that are LP Units (based on the LP Unit
Price). Each Holder shall notify the Partnership in writing when such Holder holds less than $10.0
million of those Registrable Securities that are LP Units (based on the LP Unit Price).

     Section 2.03 Delay Rights.

     Notwithstanding anything to the contrary contained herein, the Partnership may, upon written
notice to any Selling Holder whose Registrable Securities are included in the Registration
Statement or other registration statement contemplated by this Agreement, suspend such Selling
Holder’s use of any prospectus which is a part of the Registration Statement or other registration
statement (in which event the Selling Holder shall discontinue sales of the Registrable Securities
pursuant to the Registration Statement or other registration statement contemplated by this
Agreement but may settle any previously made sales of Registrable Securities) if (i) the
Partnership is pursuing an acquisition, merger, reorganization, disposition or other similar
transaction and the Partnership determines in good faith that the Partnership’s ability to pursue
or consummate such a transaction would be materially adversely affected by any required disclosure
of such transaction in the Registration Statement or other registration statement or (ii) the
Partnership has experienced some other material non-public event the disclosure of which at such
time, in the good faith judgment of the Partnership, would materially adversely affect the
Partnership; provided, however, in no event shall the Selling Holders be suspended from selling
Registrable Securities pursuant to the Registration Statement or other registration statement for a
period that exceeds an aggregate of sixty (60) days in any one hundred eighty (180)-day period or
one hundred five (105) days in any three hundred sixty-five (365)-day period, in each case,
exclusive of days covered by any lock-up agreement executed by a Selling Holder in connection with
any Underwritten Offering. Upon disclosure of such information or the termination of the condition
described above, the Partnership shall provide prompt notice to the Selling Holders whose
Registrable Securities are included in the Registration Statement, and shall promptly terminate any
suspension of sales it has put into effect and shall take such other reasonable actions to permit
registered sales of Registrable Securities as contemplated in this Agreement.

          If (i) the Selling Holders shall be prohibited from selling their Registrable Securities under
the Registration Statement or other registration statement contemplated by this Agreement as a
result of a suspension pursuant to the immediately preceding paragraph in excess of the periods
permitted therein or (ii) the Registration Statement or other registration statement contemplated
by this Agreement is filed and declared effective but, during the Effectiveness

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Period, shall thereafter cease to be effective or fail to be usable for its intended purpose
without being succeeded within 60 Business Days by a post-effective amendment thereto, a supplement
to the prospectus or a report filed with the Commission pursuant to Section 13(a), 13(c), 14 or
l5(d) of the Exchange Act, then, until the suspension is lifted or a post-effective amendment,
supplement or report is filed with the Commission, but not including any day on which a suspension
is lifted or such amendment, supplement or report is filed and declared effective, if applicable,
the Partnership shall pay the Selling Holders an amount equal to the Liquidated Damages, following
the earlier of (x) the date on which the suspension period exceeded the permitted period and (y)
the sixty-first (61st) Business Day after the Registration Statement or other registration
statement contemplated by this Agreement ceased to be effective or failed to be useable for its
intended purposes, as liquidated damages and not as a penalty (for purposes of calculation
Liquidated Damages, the date in (x) or (y) above shall be deemed the “180th day,” as used in the
definition of Liquidated Damages). For purposes of this paragraph, a suspension shall be deemed
lifted on the date that notice that the suspension has been terminated is delivered to the Selling
Holders. Liquidated Damages pursuant to this paragraph shall cease upon the Purchased Units of
such Holder becoming eligible for resale without restriction under any section of Rule 144 (or any
similar provision then in effect) under the Securities Act, assuming that each Holder is not an
Affiliate of the Partnership, and any payment of Liquidated Damages shall be prorated for any
period of less than 30 days in which the payment of Liquidated Damages ceases.

     Section 2.04 Underwritten Offerings.

     (a) General Procedures. In connection with any Underwritten Offering under this
Agreement, the Partnership shall be entitled to select the Managing Underwriter or Underwriters.
In connection with an Underwritten Offering contemplated by this Agreement in which a Selling
Holder participates, each Selling Holder and the Partnership shall be obligated to enter into an
underwriting agreement that 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, the Partnership 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 the Partnership or the underwriters other than representations, warranties or
agreements regarding such Selling Holder, its authority to enter into such underwriting agreement
and to sell, and its ownership of, the securities being registered on its behalf, 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 the Partnership and the Managing Underwriter; provided, however, that such withdrawal
must be made up to and including the time of pricing of such Underwritten Offering. No such
withdrawal or abandonment shall affect the Partnership’s obligation to pay Registration Expenses.
The Partnership’s management may but shall not be

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required to participate in a roadshow or similar marketing effort in connection with any
Underwritten Offering.

     (b) No Demand Rights. Notwithstanding any other provision of this Agreement, no
Holder shall be entitled to any “demand” rights or similar rights that would require the
Partnership to effect an Underwritten Offering solely on behalf of the Holders.

     Section 2.05 Sale Procedures. In connection with its obligations under this
Article II, the Partnership will, as expeditiously as possible:

     (a) prepare and file with the Commission such amendments and supplements to the Registration
Statement and the prospectus used in connection therewith as may be necessary to keep the
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 Registrable
Securities covered by the Registration Statement;

     (b) if a prospectus supplement will be used in connection with the marketing of an
Underwritten Offering from the Registration Statement and the Managing Underwriter at any time
shall notify the Partnership 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, the
Partnership shall use its commercially reasonable efforts to include such information in such
prospectus supplement;

     (c) furnish to each Selling Holder (i) as far in advance as reasonably practicable before
filing the 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 Registration Statement or such other registration statement or supplement or
amendment thereto, and (ii) such number of copies of the Registration Statement or such other
registration statement and the prospectus included therein and any supplements and amendments
thereto as such Selling Holder may reasonably request in order to facilitate the public sale or
other disposition of the Registrable Securities covered by such Registration Statement or other
registration statement;

     (d) if applicable, use its commercially reasonable efforts to register or qualify the
Registrable Securities covered by the 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, however, that the Partnership 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 that would subject it to general service of process in any such jurisdiction
where it is not then so subject;

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     (e) promptly notify each Selling Holder, at any time when a prospectus relating thereto is
required to be delivered by any of them under the Securities Act, of (i) the filing of the
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 Registration Statement or any other registration
statement or any post-effective amendment thereto, when the same has become effective; and (ii) the
receipt of 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
Registration Statement or any other registration statement or any prospectus or prospectus
supplement thereto;

     (f) immediately notify each Selling Holder, 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 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 case of any prospectus contained
therein, in the light of the circumstances under which a statement is made); (ii) the issuance or
express threat of issuance by the Commission of any stop order suspending the effectiveness of the
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 the Partnership 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, the Partnership 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 commercially
reasonable action as is necessary to remove a stop order, suspension, threat thereof or proceedings
related thereto;

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

     (h) in the case of an Underwritten Offering, furnish upon request, (i) an opinion of counsel
for the Partnership dated the date of the closing under the underwriting agreement and (ii) a “cold
comfort” letter, dated the pricing date of such Underwritten Offering 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 the Partnership’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) as have been customarily covered in opinions of issuer’s counsel and
in accountants’ letters delivered to the underwriters in Underwritten Offerings of securities

10

 

by the Partnership and such other matters as such underwriters and Selling Holders may
reasonably request;

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

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

     (k) 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 the Partnership are then listed;

     (l) 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 the Partnership to enable the Selling Holders to
consummate the disposition of such Registrable Securities;

     (m) 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;

     (n) 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; and

     (o) if requested by a Selling Holder, (i) incorporate in a prospectus supplement or
post-effective amendment such information as such Selling Holder reasonably requests to be included
therein relating to the sale and distribution of Registrable Securities, including information with
respect to the number of Registrable Securities being offered or sold, the purchase price being
paid therefor and any other terms of the offering of the Registrable Securities to be sold in such
offering and (ii) make all required filings of such prospectus supplement or post-effective
amendment after being notified of the matters to be incorporated in such prospectus supplement or
post-effective amendment.

     Each Selling Holder, upon receipt of notice from the Partnership of the happening of any event
of the kind described in subsection (f) of this Section 2.05, shall forthwith
discontinue offers and sales of the Registrable Securities by means of a prospectus or prospectus
supplement until such Selling Holder’s receipt of the copies of the supplemented or amended
prospectus contemplated by subsection (f) of this Section 2.05 or until it is
advised in writing by the Partnership 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 the Partnership, such Selling Holder will, or will request the
Managing Underwriter or

11

 

Underwriters, if any, to deliver to the Partnership (at the Partnership’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 2.06 Cooperation by Holders. The Partnership shall have no obligation to
include Registrable Securities of a Holder in the Registration Statement or in an Underwritten
Offering pursuant to Section 2.02(a) who has failed to timely furnish such information that
the Partnership determines, after consultation with its counsel, is reasonably required in order
for the registration statement or prospectus supplement, as applicable, to comply with the
Securities Act.

     Section 2.07 Restrictions on Public Sale by Holders of Registrable Securities. Each
Holder of Registrable Securities agrees to enter into a customary letter agreement with
underwriters providing such Holder will not effect any public sale or distribution of the class of
Registrable Securities subject to the Underwritten Offering during the sixty (60) calendar day
period beginning on the date of a prospectus or prospectus supplement filed with the Commission
with respect to the pricing of any Underwritten Offering, provided that (i) the duration of the
foregoing restrictions shall be no longer than the duration of the shortest restriction generally
imposed by the underwriters on the Partnership or the officers, directors or any other Affiliate of
the Partnership on whom a restriction is imposed and (ii) the restrictions set forth in this
Section 2.07 shall not apply to any Registrable Securities that are included in such
Underwritten Offering by such Holder. In addition, this Section 2.07 shall not apply to
any Holder that is not entitled to participate in such Underwritten Offering, whether because such
Holder delivered an Opt-Out Notice prior to receiving notice of the Underwritten Offering, because
such Holder holds less than $10.0 million of the then-outstanding Registrable Securities or because
the Registrable Securities held by such Holder may be disposed of without restriction pursuant to
any section of Rule 144 (or any similar provision then in effect) under the Securities Act.

     Section 2.08 Expenses.

     (a) Expenses. The Partnership will pay all reasonable Registration Expenses as
determined in good faith, including, in the case of an Underwritten Offering, whether or not any
sale is made pursuant to such Underwritten Offering. Each Selling Holder shall pay its pro rata
share of all Selling Expenses in connection with any sale of its Registrable Securities hereunder.
In addition, except as otherwise provided in Section 2.09 hereof, the Partnership shall not
be responsible for legal fees incurred by Holders in connection with the exercise of such Holders’
rights hereunder.

     (b) Certain Definitions. “Registration Expenses” means all expenses incident
to the Partnership’s performance under or compliance with this Agreement to effect the registration
of Registrable Securities on the Registration Statement pursuant to Section 2.01(a) or an
Underwritten Offering covered under this Agreement, and the disposition of such Registrable
Securities, including, without limitation, all registration, filing, securities exchange listing
and NYSE fees, all registration, filing, qualification and other fees and expenses of complying
with securities or blue sky laws, fees of the Financial Industry Regulatory Authority, fees of
transfer agents and registrars, all word processing, duplicating and printing expenses, any
transfer taxes

12

 

and the fees and disbursements of counsel and independent public accountants for the
Partnership, including the expenses of any special audits or “cold comfort” letters required by or
incident to such performance and compliance. “Selling Expenses” means all underwriting
fees, discounts and selling commissions or similar fees or arrangements allocable to the sale of
the Registrable Securities.

     Section 2.09 Indemnification.

     (a) By the Partnership. In the event of a registration of any Registrable Securities
under the Securities Act pursuant to this Agreement, the Partnership will indemnify and hold
harmless each Selling Holder thereunder, its directors, officers, employees and agents and each
Person, if any, who controls such Selling Holder within the meaning of the Securities Act and the
Exchange Act, and its directors, officers, employees or agents (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 (in the case of any prospectus, in light of the
circumstances under which such statement is made) contained in the Registration Statement or any
other registration statement contemplated by this Agreement, any preliminary prospectus, prospectus
supplement, free writing prospectus or final prospectus contained therein, or any amendment or
supplement thereof, or arise out of or are based upon the omission or alleged omission to state
therein a material fact required to be stated therein or necessary to make the statements therein
(in the case of a prospectus, in light of the circumstances under which they were made) not
misleading, and will reimburse each such Selling Holder 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 the Partnership 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
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 the Partnership, the General Partner, its directors, officers,
employees and agents and each Person, if any, who controls the Partnership within the meaning of
the Securities Act or of the Exchange Act, and its directors, officers, employees and agents, to
the same extent as the foregoing indemnity from the Partnership to the Selling Holders, but only
with respect to information regarding such Selling Holder furnished in writing by or on behalf of
such Selling Holder expressly for inclusion in the Registration Statement or any other registration
statement contemplated by this Agreement, any preliminary prospectus, prospectus supplement, free
writing prospectus or final prospectus contained therein, or any amendment or supplement thereof;
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

13

 

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 that
it may have to any indemnified party other than under this Section 2.09. 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 2.09 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 or employ counsel reasonably acceptable to the
indemnified party or (ii) if the defendants in any such action include both the indemnified party
and the indemnifying party and counsel to the indemnified party shall have concluded that there may
be reasonable defenses available to the indemnified party that are different from or additional to
those available to the indemnifying party, or if the interests of the indemnified party reasonably
may be deemed to conflict with the interests of the indemnifying party, then the indemnified party
shall have the right to select a separate counsel and to assume such legal defense and otherwise to
participate in the defense of such action, with the reasonable expenses and fees of such separate
counsel and other reasonable expenses related to such participation to be reimbursed by the
indemnifying party as incurred. Notwithstanding any other provision of this Agreement, no
indemnifying party shall settle any action brought against any indemnified party with respect to
which such indemnified party is entitled to indemnification hereunder without the consent of the
indemnified party, unless the settlement thereof imposes no liability or obligation on, and
includes a complete and unconditional release from all liability of, the indemnified party.

     (d) Contribution. If the indemnification provided for in this Section 2.09 is
held by a court or government agency of competent jurisdiction to be unavailable to any indemnified
party or is insufficient to hold them harmless in respect of any Losses, then each such
indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount
paid or payable by such indemnified party as a result of such Loss in such proportion as is
appropriate to reflect the relative fault of the indemnifying party on the one hand and of such
indemnified party on the other in connection with the statements or omissions that 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 the indemnifying
party on the one hand and the indemnified party on the other shall be determined by reference to,
among other things, whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact has been made by, or relates to, information
supplied by such party, and the parties’ relative intent, knowledge, access to information and
opportunity to

14

 

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 that does not take account of the equitable
considerations referred to herein. The amount paid by an indemnified party as a result of the
Losses referred to in the first sentence of this paragraph shall be deemed to include any legal and
other expenses reasonably incurred by such indemnified party in connection with investigating or
defending any Loss that 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 2.09 shall be in
addition to any other rights to indemnification or contribution that an indemnified party may have
pursuant to law, equity, contract or otherwise.

     Section 2.10 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, the Partnership agrees to use its commercially
reasonable efforts to:

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

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

     (c) so long as a Holder owns any Registrable Securities, furnish, unless otherwise available
via EDGAR, to such Holder forthwith upon request a copy of the most recent annual or quarterly
report of the Partnership, 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 2.11 Transfer or Assignment of Registration Rights. The rights to cause the
Partnership to register Registrable Securities granted to the Investors by the Partnership under
this Article II may be transferred or assigned by any Investor to one or more transferees
or assignees of Registrable Securities; provided, however, that (a) unless the transferee or
assignee is an Affiliate of, and after such transfer or assignment continues to be an Affiliate of,
such Investor, the amount of Registrable Securities transferred or assigned to such transferee or
assignee shall represent at least $10.0 million of Registrable Securities (based on the LP Unit
Price or the Class B Unit Price, as applicable), (b) the Partnership is given written notice prior
to any said transfer or assignment, stating the name and address of each such transferee or
assignee and identifying the securities with respect to which such registration rights are being
transferred or assigned, and (c) each such transferee or assignee assumes in writing responsibility
for its portion of the obligations of such Investor under this Agreement.

15

 

     Section 2.12 Limitation on Subsequent Registration Rights. From and after the date
hereof, the Partnership shall not, without the prior written consent of the Holders of a majority
of the Registrable Securities, enter into any agreement with any current or future holder of any
securities of the Partnership that would allow such current or future holder to require the
Partnership to include securities in any registration statement filed by the Partnership on a basis
other than pari passu with, or expressly subordinate to the rights of, the Holders of Registrable
Securities hereunder.

ARTICLE III

MISCELLANEOUS

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

     (a) if to an Investor:

     To the respective address listed on Schedule A hereof

     (b) if to a transferee of an Investor, to such Holder at the address provided pursuant to
Section 2.11 above; and

     (c) if to the Partnership:

Buckeye Partners, L.P.

One Greenway Plaza, Suite 600

Houston, TX 77046

Attention: General Counsel

Facsimile: 610.904.4006

with a copy to:

Vinson & Elkins L.L.P.

666 Fifth Avenue

26th Floor

New York, NY 10103

Attention: E. Ramey Layne

Facsimile: 212.237.0100

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

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

16

 

     Section 3.03 Assignment of Rights. All or any portion of the rights and obligations
of any Investor under this Agreement may be transferred or assigned by such Investor only in
accordance with Section 2.11 hereof.

     Section 3.04 Recapitalization, Exchanges, Etc. Affecting the Units. The provisions of
this Agreement shall apply to the full extent set forth herein with respect to any and all units of
the Partnership or any successor or assign of the Partnership (whether by merger, consolidation,
sale of assets or otherwise) that may be issued in respect of, in exchange for or in substitution
of, the Registrable Securities, and shall be appropriately adjusted for combinations, unit splits,
recapitalizations, pro rata distributions of units and the like occurring after the date of this
Agreement.

     Section 3.05 Aggregation of Registrable Securities. All Registrable Securities held
or acquired by Persons who are Affiliates of one another shall be aggregated together for the
purpose of determining the availability of any rights and applicability of any obligations under
this Agreement.

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

     Section 3.07 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 3.08 Headings. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

     Section 3.09 Governing Law. THIS AGREEMENT WILL BE CONSTRUED IN ACCORDANCE WITH, AND
GOVERNED BY, THE LAWS OF THE STATE OF NEW YORK.

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

     Section 3.11 Entire Agreement. This Agreement is intended by the parties as a final
expression of their agreement and intended to be a complete and exclusive statement of the
agreement and understanding of the parties hereto in respect of the subject matter contained

17

 

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

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

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

     Section 3.14 Obligations Limited to Parties to Agreement. Each of the Parties hereto
covenants, agrees and acknowledges that no Person other than the Investors (and their permitted
transferees and assignees) and the Partnership shall have any obligation hereunder and that,
notwithstanding that one or more of the Investors may be a corporation, partnership or limited
liability company, no recourse under this Agreement or under any documents or instruments delivered
in connection herewith or therewith shall be had against any former, current or future director,
officer, employee, agent, general or limited partner, manager, member, stockholder or Affiliate of
any of the Investors or any former, current or future director, officer, employee, agent, general
or limited partner, manager, member, stockholder or Affiliate of any of the foregoing, whether by
the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any
applicable Law, it being expressly agreed and acknowledged that no personal liability whatsoever
shall attach to, be imposed on or otherwise be incurred by any former, current or future director,
officer, employee, agent, general or limited partner, manager, member, stockholder or Affiliate of
any of the Investors or any former, current or future director, officer, employee, agent, general
or limited partner, manager, member, stockholder or Affiliate of any of the foregoing, as such, for
any obligations of the Investors under this Agreement or any documents or instruments delivered in
connection herewith or therewith or for any claim based on, in respect of or by reason of such
obligation or its creation, except in each case for any transferee or assignee of a Investor
hereunder.

     Section 3.15 Interpretation. Article and Section references 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. The word
“including” shall mean “including but not limited to.” Whenever any determination, consent or
approval is to be made or given by an Investor under this Agreement, such action shall be in such
Investor’s sole discretion unless otherwise specified.

[Signature pages to follow]

18

 

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

	 	 	 	 	 
	 	BUCKEYE PARTNERS, L.P.

 	 
	 	By:  	BUCKEYE GP LLC
 	 
	 	 	(its General Partner) 	 
	 	 	 
	 	By:  	                       /s/ Keith E. St.Clair
 	 
	 	 	Keith E. St.Clair 	 
	 	 	Senior Vice President
and Chief Financial Officer 	 

Signature Page to Registration Rights Agreement

 

 

	 	 	 	 	 
	 	FR XI OFFSHORE AIV, L.P.

 	 
	 	By:  	FR XI Offshore GP, L.P.,
 	 
	 	 	its general partner 	 
	 	 	 	 
	 	By:  	                      FR XI Offshore GP Limited,
 	 
	 	 	its general partner 	 
	 	 	 	 
	 	By:  	                      /s/ Alan Schwartz
 	 
	 	 	Name:  	Alan Schwartz 	 
	 	 	Title:  	Director 	 

Signature Page to Registration Rights Agreement

 

 

	 	 	 	 	 
	 	Investor:

Fiduciary/Claymore MLP Opportunity Fund

 	 
	 	By:  	/s/ Joseph Gallagher Jr
 	 
	 	 	Name:  	Joseph Gallagher Jr. CFA 	 
	 	 	Title:  	Executive Managing Director Fiduciary/Claymore MLP Opportunity Fund 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	Investor:

KAYNE ANDERSON MLP INVESTMENT COMPANY

 	 
	 	By:  	/s/ James C. Baker
 	 
	 	 	Name:  	James C. Baker 	 
	 	 	Title:  	Executive Vice President 	 
	 
	 	Investor:

KAYNE ANDERSON ENERGY TOTAL RETURN FUND, INC.

 	 
	 	By:  	/s/ James C. Baker
 	 
	 	 	Name:  	James C. Baker 	 
	 	 	Title:  	Executive Vice President 	 
	 
	 	Investor:

KAYNE ANDERSON MIDSTREAM/ENERGY FUND, INC.

 	 
	 	By:  	/s/ James C. Baker
 	 
	 	 	Name:  	James C. Baker 	 
	 	 	Title:  	Executive Vice President 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

Schedule A — Investor Name; Notice and Contact Information; Opt-Out

	 	 	 	 	 
	 	 	 	 	Opt-Out
	 	 	 	 	at Date
	Investor	 	Address	 	Hereof
	FR XI Offshore AIV, L.P.

	 	c/o First Reserve 

One Lafayette Place

Greenwich, Connecticut 06830

Attention: Alan G. Schwartz

Fax: 203-661-6729	 	 
	 
	 	 	 	 
	 

	 	With a copy to:

Baker Botts L.L.P.

99 San Jacinto Boulevard, Suite 1500

Austin, Texas 78701

Attention: Mike Bengston

Fax: 512-322-8349	 	 
	 
	 	 	 	 
	Fiduciary/Caymore MLP Opportunity Fund

	 	Quinn Kiley 

8235 Forsyth Blvd., Suite 700

St. Louis, Missouri 63105

Fox: 314-446-1407	 	 
	 
	 	 	 	 
	Kayne Anderson MLP Investment Company

	 	James C. Baker 

Kayne Anderson Capital Advisors, L.P.

717 Texas Avenue, Suite 3100

Houston, Texas 77002

Fax: 713-665-7359	 	 
	 
	 	 	 	 
	 

	 	With a copy to:

Baker Botts L.L.P.

One Shell Plaza

910 Louisiana Street

Houston, Texas 77002

Attention: Joe S. Poff

Fax: 713-229-7710	 	 

Schedule A to Registration Rights Agreement

 

 

	 	 	 	 	 
	 	 	 	 	Opt-Out
	 	 	 	 	at Date
	Investor	 	Address	 	Hereof
	Kayne Anderson
Energy Total Return
Fund, Inc.

	 	James C. Baker 

Kayne Anderson Capital Advisors, L.P.

717 Texas Avenue, Suite 3100

Houston, Texas 77002

Fax: 713-665-7359	 	 
	 
	 	 	 	 
	 

	 	With a copy to:

Baker Botts L.L.P.

One Shell Plaza

910 Louisiana Street

Houston, Texas 77002

Attention: Joe S. Poff

Fax: 713-229-7710	 	 
	 
	 	 	 	 
	Kayne Anderson
Midstream/Energy
Fund, Inc.

	 	James C. Baker 

Kayne Anderson Capital Advisors, L.P.

717 Texas Avenue, Suite 3100

Houston, Texas 77002

Fax: 713-665-7359
	 	 
	 
	 	 	 	 
	 

	 	With a copy to:

Baker Botts L.L.P.

One Shell Plaza

910 Louisiana Street

Houston, Texas 77002

Attention: Joe S. Poff

Fax: 713-229-7710	 	 

Schedule A to Registration Rights Agreementexv10w5

Exhibit 10.5

REGISTRATION RIGHTS AGREEMENT

BY AND AMONG

BUCKEYE PARTNERS, L.P.

AND

THE INVESTORS NAMED ON SCHEDULE A HERETO

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 

	ARTICLE I DEFINITIONS	 	 	1	 
	 
	 	 	 	 	 	 
	Section 1.01
	 	Definitions	 	 	1	 
	Section 1.02
	 	Registrable Securities	 	 	3	 
	 
	 	 	 	 	 	 
	ARTICLE II REGISTRATION RIGHTS	 	 	3	 
	 
	 	 	 	 	 	 
	Section 2.01
	 	Registration	 	 	3	 
	Section 2.02
	 	Piggyback Rights	 	 	4	 
	Section 2.03
	 	Delay Rights	 	 	6	 
	Section 2.04
	 	Underwritten Offerings	 	 	7	 
	Section 2.05
	 	Sale Procedures	 	 	8	 
	Section 2.06
	 	Cooperation by Holders	 	 	11	 
	Section 2.07
	 	Restrictions on Public Sale by
Holders of Registrable Securities	 	 	11	 
	Section 2.08
	 	Expenses	 	 	11	 
	Section 2.09
	 	Indemnification	 	 	12	 
	Section 2.10
	 	Rule 144 Reporting	 	 	14	 
	Section 2.11
	 	Transfer or Assignment of Registration Rights	 	 	15	 
	Section 2.12
	 	Limitation on Subsequent Registration Rights	 	 	15	 
	 
	 	 	 	 	 	 
	ARTICLE III MISCELLANEOUS	 	 	15	 
	 
	 	 	 	 	 	 
	Section 3.01
	 	Communications	 	 	15	 
	Section 3.02
	 	Successor and Assigns	 	 	16	 
	Section 3.03
	 	Assignment of Rights	 	 	16	 
	Section 3.04
	 	Recapitalization, Exchanges, Etc. Affecting the Units	 	 	16	 
	Section 3.05
	 	Aggregation of Registrable Securities	 	 	16	 
	Section 3.06
	 	Specific Performance	 	 	16	 
	Section 3.07
	 	Counterparts	 	 	17	 
	Section 3.08
	 	Headings	 	 	17	 
	Section 3.09
	 	Governing Law	 	 	17	 
	Section 3.10
	 	Severability of Provisions	 	 	17	 
	Section 3.11
	 	Entire Agreement	 	 	17	 
	Section 3.12
	 	Amendment	 	 	17	 
	Section 3.13
	 	No Presumption	 	 	17	 
	Section 3.14
	 	Obligations Limited to Parties to Agreement	 	 	17	 
	Section 3.15
	 	Interpretation	 	 	18	 

Schedule A — Investor List; Notice and Contact Information; Opt-Out

 

 

REGISTRATION RIGHTS AGREEMENT

     This REGISTRATION RIGHTS AGREEMENT (this “Agreement”) is made and entered into as of
December 18, 2010, by and among Buckeye Partners, L.P., a Delaware limited partnership (the
“Partnership”), and each of the Persons set forth on Schedule A to this Agreement
(each, an “Investor” and collectively, the “Investors”).

     WHEREAS, this Agreement is made in connection with the entry into the LP Unit Purchase
Agreement, on or prior to the date hereof, by and among the Partnership and the Investors (the
“PIPE (LP) Unit Purchase Agreement”); and

     WHEREAS, the Partnership has agreed to provide the registration and other rights set forth in
this Agreement for the benefit of the Investors pursuant to the PIPE (LP) Unit Purchase Agreement.

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

ARTICLE I

DEFINITIONS

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

     “Affiliate” means, with respect to any Person, any other Person that directly or
indirectly through one or more intermediaries controls, is controlled by or is under common control
with, the Person in question. As used herein, the term “control” means the possession, direct or
indirect, of the power to direct or cause the direction of the management and policies of a Person,
whether through ownership of voting securities, by contract or otherwise.

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

     “ArcLight/Kelso Registration Rights Agreement” means that certain Registration Rights
Agreement, by and among Buckeye, BGH GP Holdings, LLC, ArcLight Energy Partners Fund III, L.P.,
ArcLight Energy Partners Fund IV, L.P., Kelso Investment Associates VII, L.P. and KEP VI, LLC,
dated as of June 10, 2010.

     “Commission” means the U.S. Securities and Exchange Commission.

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

     “Existing Registration Rights Agreements” means, collectively, (a) that certain
Registration Rights Agreement by and among the Partnership, First Reserve and each of the

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other Persons set forth on Schedule A thereto dated as of the date hereof and (b) the ArcLight/Kelso
Registration Rights Agreement.

     “First Reserve” means FR XI Offshore AIV, L.P., an exempted limited partnership formed
under the laws of the Cayman Islands.

     “General Partner” means Buckeye GP LLC, a Delaware limited liability company.

     “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.

     “Investor” and “Investors” have the meanings specified therefor in the
introductory paragraph of this Agreement.

     “Liquidated Damages” has the meaning specified therefor in Section 2.01(b) of
this Agreement.

     “Liquidated Damages Multiplier” means the product of the LP Unit Price times the
number of Purchased Units purchased by such Investor and that may not be disposed of without
restriction pursuant to any section of Rule 144 (or any similar provision then in effect) under the
Securities Act.

     “Losses” has the meaning specified therefor in Section 2.09(a) of this
Agreement.

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

     “Opt-Out Notice” has the meaning specified therefor in Section 2.02(a) of this
Agreement.

     “Parity Securities” has the meaning specified therefor in Section 2.02(b) of
this Agreement.

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

     “Person” means an individual or a corporation, limited liability company, partnership,
joint venture, trust, unincorporated organization, association, government agency or political
subdivision thereof or other entity.

     “PIPE (LP) Unit Purchase Agreement” has the meaning specified therefor in the recitals
of this Agreement.

     “Registrable Securities” means (i) the LP Units to be acquired by the Investors
pursuant to the PIPE (LP) Unit Purchase Agreement and (ii) any LP Units issued as Liquidated
Damages pursuant to Section 2.01(b) of this Agreement.

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     “Registration Expenses” has the meaning specified therefor in Section 2.08(b)
of this Agreement.

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

     “Selling Expenses” has the meaning specified therefor in Section 2.08(b) of
this Agreement.

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

     “Selling Holder Indemnified Persons” has the meaning specified therefor in Section
2.09(a) of this Agreement.

     “Underwritten Offering” means an offering (including an offering pursuant to a
Registration Statement) in which LP 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 (a) when a registration statement covering such Registrable Security becomes
or has been declared effective by the Commission and such Registrable Security has been sold or
disposed of pursuant to such effective registration statement; (b) when such Registrable Security
has been disposed of pursuant to any section of Rule 144 (or any similar provision then in effect)
under the Securities Act; (c) when such Registrable Security is held by the Partnership or one of
its subsidiaries or Affiliates; (d) when such Registrable Security has been sold or disposed of in
a private transaction in which the transferor’s rights under this Agreement are not assigned to the
transferee of such securities pursuant to Section 2.11 hereof or (e) one year after the
Closing Date.

ARTICLE II

REGISTRATION RIGHTS

     Section 2.01 Registration.

     (a) Effectiveness Deadline. Following the date hereof, but no later than 15 days
following the Closing Date, the Partnership shall prepare and file a registration statement (the
“Registration Statement”) under the Securities Act with respect to all of the Registrable
Securities. The 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 the Partnership. The
Partnership shall use its commercially reasonable efforts to cause the Registration Statement to
become effective on or as soon as practicable after the Closing Date. Any Registration Statement
shall provide for the resale pursuant to any method or combination of methods legally available to,
and requested by, the Holders of any and all Registrable Securities covered by such Registration
Statement. The Partnership shall use its commercially reasonable efforts to cause the Registration
Statement filed pursuant to this Section 2.01(a) to be effective, supplemented and amended
to the extent necessary to ensure that it is available for the resale of all Registrable

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Securities by the Holders until all Registrable Securities covered by such Registration Statement have ceased
to be Registrable Securities (the “Effectiveness Period”). The Registration Statement when
effective (including the documents incorporated therein by reference) will comply as to form in all
material respects 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 (in the case of any
prospectus contained in such Registration Statement, in the light of the circumstances under which
a statement is made). As soon as practicable following the date that the Registration Statement
becomes effective, but in any event within two (2) Business Days of such date, the Partnership
shall provide the Holders with written notice of the effectiveness of the Registration Statement.

     (b) Failure to Go Effective. If the Registration Statement required by Section
2.01(a) is not declared effective within 90 days after the Closing Date, then each Holder shall
be entitled to a payment (with respect to the Purchased Units of each such Holder), as liquidated
damages and not as a penalty, of 0.25% of the Liquidated Damages Multiplier per 30-day period, that
shall accrue daily, for the first 60 days following the 90th day, increasing by an additional 0.25%
of the Liquidated Damages Multiplier per 30-day period, that shall accrue daily, for each
subsequent 30 days, up to a maximum of 1.00% of the Liquidated Damages Multiplier per 30-day period
(the “Liquidated Damages”). The Liquidated Damages payable pursuant to the immediately
preceding sentence shall be payable within ten (10) Business Days after the end of each such 30-day
period. Any Liquidated Damages shall be paid to each Holder in immediately available funds;
provided, however, if the Partnership certifies that it is unable to pay Liquidated Damages in cash
because such payment would result in a breach under a credit facility or other debt instrument,
then the Partnership may pay the Liquidated Damages in kind in the form of the issuance of
additional LP Units. Upon any issuance of LP Units as Liquidated Damages, the Partnership shall
promptly (i) prepare and file an amendment to the Registration Statement prior to its effectiveness
adding such LP Units to such Registration Statement as additional Registrable Securities and (ii)
prepare and file a supplemental listing application with the NYSE to list such additional LP Units.
The determination of the number of LP Units to be issued as Liquidated Damages shall be equal to
the amount of Liquidated Damages divided by the volume-weighted average closing price of the LP
Units on the NYSE for the ten (10) trading days immediately preceding the date on which the
Liquidated Damages payment is due, less a discount to such average closing price of 2.00%. The
payment of Liquidated Damages to a Holder shall cease at the earlier of (i) the Registration
Statement becoming effective or (ii) the Purchased Units of such Holder becoming eligible for
resale without restriction under any section of Rule 144 (or any similar provision then in effect)
under the Securities Act, assuming that each Holder is not an Affiliate of the Partnership, and any
payment of Liquidated Damages shall be prorated for any period of less than 30 days in which the
payment of Liquidated Damages ceases. If the
Partnership is unable to cause a Registration Statement to go effective within 180 days after
the Closing Date as a result of an acquisition, merger, reorganization, disposition or other
similar transaction, then the Partnership may request a waiver of the Liquidated Damages, and each
Holder may individually grant or withhold its consent to such request in its discretion.

     Section 2.02 Piggyback Rights.

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     (a) Participation. In the event the Registrable Securities may not be disposed of
without restriction pursuant to any section of Rule 144 (or any similar provision then in effect)
under the Securities Act, if the Partnership proposes to file (i) a shelf registration statement
other than the Registration Statement contemplated by Section 2.01(a), (ii) a prospectus
supplement to an effective shelf registration statement, other than the Registration Statement
contemplated by Section 2.01(a) of this Agreement and Holders may be included without the
filing of a post-effective amendment thereto, or (iii) a registration statement, other than a shelf
registration statement, in each case, for the sale of LP Units in an Underwritten Offering for its
own account and/or another Person, then as soon as practicable following the engagement of counsel
by the Partnership to prepare the documents to be used in connection with an Underwritten Offering,
the Partnership shall give notice (including, but not limited to, notification by electronic mail)
of such proposed Underwritten Offering to each Holder (together with its Affiliates) holding at
least $10.0 million of the then-outstanding Registrable Securities (based on the LP Unit Price) and
such notice shall offer such Holders the opportunity to include in such Underwritten Offering such
number of Registrable Securities (the “Included Registrable Securities”) as each such
Holder may request in writing; provided, however, that if the Partnership has been advised 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 LP Units in the
Underwritten Offering, then (A) the Partnership shall not be required to offer such opportunity to
the Holders or (B) if any Registrable Securities can be included in the Underwritten Offering in
the opinion of the Managing Underwriter, then the amount of Registrable Securities to be offered
for the accounts of Holders shall be determined based on the provisions of Section 2.02(b).
Any notice required to be provided in this Section 2.02(a) to Holders shall be provided on
a Business Day pursuant to Section 3.01 hereof and receipt of such notice shall be
confirmed by the Holder. Each such Holder shall then have two (2) Business Days (or one (1)
Business Day in connection with any overnight or bought Underwritten Offering) after notice has
been delivered to request in writing the inclusion of Registrable Securities in the Underwritten
Offering. If no written request for inclusion from a Holder is received within the specified time,
each such Holder shall have no further right to participate in such Underwritten Offering. If, at
any time after giving written notice of its intention to undertake an Underwritten Offering and
prior to the closing of such Underwritten Offering, the Partnership shall determine for any reason
not to undertake or to delay such Underwritten Offering, the Partnership may, at its election, give
written notice of such determination to the Selling Holders and, (x) in the case of a determination
not to undertake such Underwritten Offering, shall be relieved of its obligation to sell any
Included Registrable Securities in connection with such terminated Underwritten Offering, and (y)
in the case of a determination to delay such Underwritten Offering, shall be permitted to delay
offering any Included Registrable Securities for the same period as the delay in the Underwritten
Offering. Any Selling Holder shall have the right to withdraw such Selling Holder’s request for
inclusion of such Selling Holder’s Registrable Securities in such Underwritten Offering by giving
written notice to the Partnership of such withdrawal at or prior to the time of pricing of such
Underwritten Offering. Any Holder may deliver written notice (an “Opt-Out Notice”) to the
Partnership requesting that such Holder not receive notice from the Partnership of any proposed
Underwritten Offering; provided, however, that such Holder may later revoke any such Opt-Out Notice
in writing. Following receipt of an Opt-Out Notice from a Holder (unless subsequently revoked),
the Partnership shall not be required to deliver any notice to such Holder pursuant to this Section
2.02(a) and such Holder shall no longer be entitled to participate in Underwritten

5

 

Offerings by the Partnership pursuant to this Section 2.02(a). The Holders indicated on Schedule A hereto
shall each be deemed to have delivered an Opt-Out Notice as of the date hereof.

     (b) Priority. If the Managing Underwriter or Underwriters of any proposed
Underwritten Offering advises the Partnership that the total amount of Registrable Securities that
the Selling Holders and any other Persons intend to include in such offering exceeds the number
that can be sold in such offering without being likely to have an adverse effect on the price,
timing or distribution of the LP Units offered or the market for the LP Units, then the LP Units to
be included in such Underwritten Offering shall include the number of Registrable Securities that
such Managing Underwriter or Underwriters advises the Partnership can be sold without having such
adverse effect, with such number to be allocated (i) first, to the Partnership and, if applicable,
to those holders of Parity Securities who initiated the Underwritten Offering pursuant to rights
granted such holders under the ArcLight/Kelso Registration Rights Agreement and (ii) second, pro
rata among the Selling Holders who have requested participation in such Underwritten Offering and,
except as provided in clause (i), any other holder of securities of the Partnership having rights
of registration that are neither expressly senior nor subordinated to the Registrable Securities
(the “Parity Securities”). As of the date hereof, Parity Securities include securities of
the Partnership covered by the Existing Registration Rights Agreements. The pro rata allocations
for each Selling Holder who has requested participation in such Underwritten Offering shall be the
product of (a) the aggregate number of Registrable Securities proposed to be sold in such
Underwritten Offering multiplied by (b) the fraction derived by dividing (x) the number of
Registrable Securities owned on the Closing Date by such Selling Holder by (y) the aggregate number
of Registrable Securities owned on the Closing Date by all Selling Holders plus the aggregate
number of Parity Securities owned on the Closing Date by all holders of Parity Securities that are
participating in the Underwritten Offering.

     (c) Termination of Piggyback Registration Rights. Each Holder’s rights under
Section 2.02 shall terminate upon such Holder (together with its Affiliates) ceasing to
hold at least $10.0 million of Registrable Securities (based on the LP Unit Price). Each Holder
shall notify the Partnership in writing when such Holder holds less than $10.0 million of
Registrable Securities (based on the LP Unit Price).

     Section 2.03 Delay Rights.

     Notwithstanding anything to the contrary contained herein, the Partnership may, upon written
notice to any Selling Holder whose Registrable Securities are included in the Registration
Statement or other registration statement contemplated by this Agreement, suspend such Selling
Holder’s use of any prospectus which is a part of the Registration Statement or other
registration statement (in which event the Selling Holder shall discontinue sales of the
Registrable Securities pursuant to the Registration Statement or other registration statement
contemplated by this Agreement but may settle any previously made sales of Registrable Securities)
if (i) the Partnership is pursuing an acquisition, merger, reorganization, disposition or other
similar transaction and the Partnership determines in good faith that the Partnership’s ability to
pursue or consummate such a transaction would be materially adversely affected by any required
disclosure of such transaction in the Registration Statement or other registration statement or
(ii) the Partnership has experienced some other material non-public event the disclosure of which
at such time, in the good faith judgment of the Partnership, would materially adversely affect the

6

 

Partnership; provided, however, in no event shall the Selling Holders be suspended from selling
Registrable Securities pursuant to the Registration Statement or other registration statement for a
period that exceeds an aggregate of 60 days in any 180-day period or 105 days in any 365-day
period, in each case, exclusive of days covered by any lock-up agreement executed by a Selling
Holder in connection with any Underwritten Offering. Upon disclosure of such information or the
termination of the condition described above, the Partnership shall provide prompt notice to the
Selling Holders whose Registrable Securities are included in the Registration Statement, and shall
promptly terminate any suspension of sales it has put into effect and shall take such other
reasonable actions to permit registered sales of Registrable Securities as contemplated in this
Agreement.

     If (i) the Selling Holders shall be prohibited from selling their Registrable Securities under
the Registration Statement or other registration statement contemplated by this Agreement as a
result of a suspension pursuant to the immediately preceding paragraph in excess of the periods
permitted therein or (ii) the Registration Statement or other registration statement contemplated
by this Agreement is filed and declared effective but, during the Effectiveness Period, shall
thereafter cease to be effective or fail to be usable for its intended purpose without being
succeeded within 60 Business Days by a post-effective amendment thereto, a supplement to the
prospectus or a report filed with the Commission pursuant to Section 13(a), 13(c), 14 or l5(d) of
the Exchange Act, then, until the suspension is lifted or a post-effective amendment, supplement or
report is filed with the Commission, but not including any day on which a suspension is lifted or
such amendment, supplement or report is filed and declared effective, if applicable, the
Partnership shall pay the Selling Holders an amount equal to the Liquidated Damages, following the
earlier of (x) the date on which the suspension period exceeded the permitted period and (y) the
sixty-first (61st) Business Day after the Registration Statement or other registration statement
contemplated by this Agreement ceased to be effective or failed to be useable for its intended
purposes, as liquidated damages and not as a penalty (for purposes of calculation Liquidated
Damages, the date in (x) or (y) above shall be deemed the “90th day,” as used in the definition of
Liquidated Damages). For purposes of this paragraph, a suspension shall be deemed lifted on the
date that notice that the suspension has been terminated is delivered to the Selling Holders.
Liquidated Damages pursuant to this paragraph shall cease upon the Purchased Units of such Holder
becoming eligible for resale without restriction under any section of Rule 144 (or any similar
provision then in effect) under the Securities Act, assuming that each Holder is not an Affiliate
of the Partnership, and any payment of Liquidated Damages shall be prorated for any period of less
than 30 days in which the payment of Liquidated Damages ceases.

     Section 2.04 Underwritten Offerings.

     (a) General Procedures. In connection with any Underwritten Offering under this
Agreement, the Partnership shall be entitled to select the Managing Underwriter or Underwriters.
In connection with an Underwritten Offering contemplated by this Agreement in which a Selling
Holder participates, each Selling Holder and the Partnership shall be obligated to enter into an
underwriting agreement that 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

7

 

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, the Partnership 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 the Partnership or the underwriters other than representations, warranties or
agreements regarding such Selling Holder, its authority to enter into such underwriting agreement
and to sell, and its ownership of, the securities being registered on its behalf, 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 the Partnership and the Managing Underwriter; provided, however, that such withdrawal
must be made up to and including the time of pricing of such Underwritten Offering. No such
withdrawal or abandonment shall affect the Partnership’s obligation to pay Registration Expenses.
The Partnership’s management may but shall not be required to participate in a roadshow or similar
marketing effort in connection with any Underwritten Offering.

     (b) No Demand Rights. Notwithstanding any other provision of this Agreement, no
Holder shall be entitled to any “demand” rights or similar rights that would require the
Partnership to effect an Underwritten Offering solely on behalf of the Holders.

     Section 2.05 Sale Procedures. In connection with its obligations under this
Article II, the Partnership will, as expeditiously as possible:

     (a) prepare and file with the Commission such amendments and supplements to the Registration
Statement and the prospectus used in connection therewith as may be necessary to keep the
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 Registrable
Securities covered by the Registration Statement;

     (b) if a prospectus supplement will be used in connection with the marketing of an
Underwritten Offering from the Registration Statement and the Managing Underwriter at any time
shall notify the Partnership 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, the
Partnership shall use its commercially reasonable efforts to include such information in such
prospectus supplement;

     (c) furnish to each Selling Holder (i) as far in advance as reasonably practicable before
filing the 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

8

 

therein and make the corrections reasonably requested by such Selling Holder with respect to such information prior
to filing the Registration Statement or such other registration statement or supplement or
amendment thereto, and (ii) such number of copies of the Registration Statement or such other
registration statement and the prospectus included therein and any supplements and amendments
thereto as such Selling Holder may reasonably request in order to facilitate the public sale or
other disposition of the Registrable Securities covered by such Registration Statement or other
registration statement;

     (d) if applicable, use its commercially reasonable efforts to register or qualify the
Registrable Securities covered by the 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, however, that the Partnership 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 that would subject it to general service of process in any such jurisdiction
where it is not then so subject;

     (e) promptly notify each Selling Holder, at any time when a prospectus relating thereto is
required to be delivered by any of them under the Securities Act, of (i) the filing of the
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 Registration Statement or any other registration
statement or any post-effective amendment thereto, when the same has become effective; and (ii) the
receipt of 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
Registration Statement or any other registration statement or any prospectus or prospectus
supplement thereto;

     (f) immediately notify each Selling Holder, 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 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 case of any prospectus
contained therein, in the light of the circumstances under which a statement is made); (ii) the
issuance or express threat of issuance by the Commission of any stop order suspending the
effectiveness of the 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 the
Partnership 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, the Partnership 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 commercially reasonable action as is necessary to remove a stop order, suspension,
threat thereof or proceedings related thereto;

9

 

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

     (h) in the case of an Underwritten Offering, furnish upon request, (i) an opinion of counsel
for the Partnership dated the date of the closing under the underwriting agreement and (ii) a “cold
comfort” letter, dated the pricing date of such Underwritten Offering 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 the Partnership’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) as have been customarily covered in opinions of issuer’s counsel and
in accountants’ letters delivered to the underwriters in Underwritten Offerings of securities by
the Partnership and such other matters as such underwriters and Selling Holders may reasonably
request;

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

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

     (k) 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 the Partnership are then listed;

     (l) 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 the Partnership to enable the Selling Holders to
consummate the disposition of such Registrable Securities;

     (m) 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;

     (n) 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; and

10

 

     (o) if requested by a Selling Holder, (i) incorporate in a prospectus supplement or
post-effective amendment such information as such Selling Holder reasonably requests to be included
therein relating to the sale and distribution of Registrable Securities, including information with
respect to the number of Registrable Securities being offered or sold, the purchase price being
paid therefor and any other terms of the offering of the Registrable Securities to be sold in such
offering and (ii) make all required filings of such prospectus supplement or post-effective
amendment after being notified of the matters to be incorporated in such prospectus supplement or
post-effective amendment.

     Each Selling Holder, upon receipt of notice from the Partnership of the happening of any event
of the kind described in subsection (f) of this Section 2.05, shall forthwith
discontinue offers and sales of the Registrable Securities by means of a prospectus or prospectus
supplement until such Selling Holder’s receipt of the copies of the supplemented or amended
prospectus contemplated by subsection (f) of this Section 2.05 or until it is
advised in writing by the Partnership 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 the Partnership, such Selling Holder will, or will request the
Managing Underwriter or Underwriters, if any, to deliver to the Partnership (at the Partnership’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 2.06 Cooperation by Holders. The Partnership shall have no obligation to
include Registrable Securities of a Holder in the Registration Statement or in an Underwritten
Offering pursuant to Section 2.02(a) who has failed to timely furnish such information that
the Partnership determines, after consultation with its counsel, is reasonably required in order
for the registration statement or prospectus supplement, as applicable, to comply with the
Securities Act.

     Section 2.07 Restrictions on Public Sale by Holders of Registrable Securities.
Each Holder of Registrable Securities agrees to enter into a customary letter agreement
with underwriters providing such Holder will not effect any public sale or distribution of
Registrable Securities during the 60 calendar day period beginning on the date of a prospectus or
prospectus supplement filed with the Commission with respect to the pricing of any Underwritten
Offering, provided that (i) the duration of the foregoing restrictions shall be no longer than the
duration of the shortest restriction generally imposed by the underwriters on the Partnership or
the officers, directors or any other Affiliate of the Partnership on whom a restriction is imposed
and (ii) the restrictions set forth in this Section 2.07 shall not apply to any Registrable
Securities that are included in such Underwritten Offering by such Holder. In addition, this
Section 2.07 shall not apply to any Holder that is not entitled to participate in such
Underwritten Offering, whether because such Holder delivered an Opt-Out Notice prior to receiving
notice of the Underwritten Offering, because such Holder holds less than $10.0 million of the
then-outstanding Registrable Securities or because the Registrable Securities held by such Holder
may be disposed of without restriction pursuant to any section of Rule 144 (or any similar
provision then in effect) under the Securities Act.

     Section 2.08 Expenses.

11

 

     (a) Expenses. The Partnership will pay all reasonable Registration Expenses as
determined in good faith, including, in the case of an Underwritten Offering, whether or not any
sale is made pursuant to such Underwritten Offering. Each Selling Holder shall pay its pro rata
share of all Selling Expenses in connection with any sale of its Registrable Securities hereunder.
In addition, except as otherwise provided in Section 2.09 hereof, the Partnership shall not
be responsible for legal fees incurred by Holders in connection with the exercise of such Holders’
rights hereunder.

     (b) Certain Definitions. “Registration Expenses” means all expenses incident
to the Partnership’s performance under or compliance with this Agreement to effect the registration
of Registrable Securities on the Registration Statement pursuant to Section 2.01(a) or an
Underwritten Offering covered under this Agreement, and the disposition of such Registrable
Securities, including, without limitation, all registration, filing, securities exchange listing
and NYSE fees, all registration, filing, qualification and other fees and expenses of complying
with securities or blue sky laws, fees of the Financial Industry Regulatory Authority, fees of
transfer agents and registrars, all word processing, duplicating and printing expenses, any
transfer taxes and the fees and disbursements of counsel and independent public accountants for the
Partnership, including the expenses of any special audits or “cold comfort” letters required by or
incident to such performance and compliance. “Selling Expenses” means all underwriting
fees, discounts and selling commissions or similar fees or arrangements allocable to the sale of
the Registrable Securities.

     Section 2.09 Indemnification.

     (a) By the Partnership. In the event of a registration of any Registrable Securities
under the Securities Act pursuant to this Agreement, the Partnership will indemnify and hold
harmless each Selling Holder thereunder, its directors, officers, employees and agents and each
Person, if any, who controls such Selling Holder within the meaning of the Securities Act and the
Exchange Act, and its directors, officers, employees or agents (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 (in the case of any prospectus, in light of the
circumstances under which such statement is made) contained in the Registration Statement or any
other registration statement contemplated by this Agreement, any preliminary prospectus, prospectus
supplement, free writing prospectus or final prospectus contained therein, or any amendment or
supplement thereof, or arise out of or are based upon the omission or alleged omission to state
therein a material fact required to be stated therein or necessary to make the statements therein
(in the case of a prospectus, in light of the circumstances under which they were made) not
misleading, and will reimburse each such Selling Holder 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 the Partnership 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

12

 

use in the 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 the Partnership, the General Partner, its directors, officers,
employees and agents and each Person, if any, who controls the Partnership within the meaning of
the Securities Act or of the Exchange Act, and its directors, officers, employees and agents, to
the same extent as the foregoing indemnity from the Partnership to the Selling Holders, but only
with respect to information regarding such Selling Holder furnished in writing by or on behalf of
such Selling Holder expressly for inclusion in the Registration Statement or any other registration
statement contemplated by this Agreement, any preliminary prospectus, prospectus supplement, free
writing prospectus or final prospectus contained therein, or any amendment or supplement thereof;
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 that
it may have to any indemnified party other than under this Section 2.09. 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 2.09 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 or employ counsel reasonably
acceptable to the indemnified party or (ii) if the defendants in any such action include both the
indemnified party and the indemnifying party and counsel to the indemnified party shall have
concluded that there may be reasonable defenses available to the indemnified party that are
different from or additional to those available to the indemnifying party, or if the interests of
the indemnified party reasonably may be deemed to conflict with the interests of the indemnifying
party, then the indemnified party shall have the right to select a separate counsel and to assume
such legal defense and otherwise to participate in the defense of such action, with the reasonable
expenses and fees of such separate counsel and other reasonable expenses related to such
participation to be reimbursed by the indemnifying party as incurred. Notwithstanding any other
provision of this Agreement, no indemnifying party shall settle any action brought against any
indemnified party with respect to which such indemnified party is entitled to indemnification
hereunder without the consent of the indemnified party, unless the settlement thereof imposes no
liability or obligation on, and includes a complete and unconditional release from all liability
of, the indemnified party.

13

 

     (d) Contribution. If the indemnification provided for in this Section 2.09 is
held by a court or government agency of competent jurisdiction to be unavailable to any indemnified
party or is insufficient to hold them harmless in respect of any Losses, then each such
indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount
paid or payable by such indemnified party as a result of such Loss in such proportion as is
appropriate to reflect the relative fault of the indemnifying party on the one hand and of such
indemnified party on the other in connection with the statements or omissions that 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 the indemnifying
party on the one hand and the indemnified party on the other shall be determined by reference to,
among other things, whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact has been made by, or relates to, information
supplied by such party, and the parties’ relative intent, knowledge, access to information and
opportunity to correct or prevent such statement or omission. The parties hereto agree that it
would not be just and equitable if contributions pursuant to this paragraph were to be determined
by pro rata allocation or by any other method of allocation that does not take account of the
equitable considerations referred to herein. The amount paid by an indemnified party as a result
of the Losses referred to in the first sentence of this paragraph shall be deemed to include any
legal and other expenses reasonably incurred by such indemnified party in connection with
investigating or defending any Loss that 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 2.09 shall be in
addition to any other rights to indemnification or contribution that an indemnified party may have
pursuant to law, equity, contract or otherwise.

     Section 2.10 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, the Partnership agrees to use its commercially
reasonable efforts to:

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

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

     (c) so long as a Holder owns any Registrable Securities, furnish, unless otherwise available
via EDGAR, to such Holder forthwith upon request a copy of the most recent annual or quarterly
report of the Partnership, 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.

14

 

     Section 2.11 Transfer or Assignment of Registration Rights. The rights to cause the
Partnership to register Registrable Securities granted to the Investors by the Partnership under
this Article II may be transferred or assigned by any Investor to one or more transferees
or assignees of Registrable Securities; provided, however, that (a) unless the transferee or
assignee is an Affiliate of, and after such transfer or assignment continues to be an Affiliate of,
such Investor, the amount of Registrable Securities transferred or assigned to such transferee or
assignee shall represent at least $10.0 million of Registrable Securities (based on the LP Unit
Price), (b) the Partnership is given written notice prior to any said transfer or assignment,
stating the name and address of each such transferee or assignee and identifying the securities
with respect to which such registration rights are being transferred or assigned, and (c) each such
transferee or assignee assumes in writing responsibility for its portion of the obligations of such
Investor under this Agreement.

     Section 2.12 Limitation on Subsequent Registration Rights. From and after the date
hereof, the Partnership shall not, without the prior written consent of the Holders of a majority
of the Registrable Securities, enter into any agreement with any current or future holder of any
securities of the Partnership that would allow such current or future holder to require the
Partnership to include securities in any registration statement filed by the Partnership on a basis
other than pari passu with, or expressly subordinate to the rights of, the Holders of Registrable
Securities hereunder.

ARTICLE III

MISCELLANEOUS

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

     (a) if to an Investor:

     To the respective address listed on Schedule A hereof

	 	 	with a copy to:

Baker Botts L.L.P.

One Shell Plaza

910 Louisiana Street

Houston, TX 77002

Attention: Joe S. Poff

Facsimile: 713.229.7710

     (b) if to a transferee of an Investor, to such Holder at the address provided pursuant to
Section 2.11 above; and

     (c) if to the Partnership:

Buckeye Partners, L.P.

One Greenway Plaza, Suite 600

15

 

Houston, TX 77046

Attention: General Counsel

Facsimile: 610.904.4006

with a copy to:

Vinson & Elkins L.L.P.

666 Fifth Avenue

26th Floor

New York, NY 10103

Attention: E. Ramey Layne

Facsimile: 212.237.0100

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

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

     Section 3.03 Assignment of Rights. All or any portion of the rights and obligations
of any Investor under this Agreement may be transferred or assigned by such Investor only in
accordance with Section 2.11 hereof.

     Section 3.04 Recapitalization, Exchanges, Etc. Affecting the Units. The provisions of
this Agreement shall apply to the full extent set forth herein with respect to any and all units of
the Partnership or any successor or assign of the Partnership (whether by merger, consolidation,
sale of assets or otherwise) that may be issued in respect of, in exchange for or in substitution
of, the Registrable Securities, and shall be appropriately adjusted for combinations, unit splits,
recapitalizations, pro rata distributions of units and the like occurring after the date of this
Agreement.

     Section 3.05 Aggregation of Registrable Securities. All Registrable Securities held
or acquired by Persons who are Affiliates of one another shall be aggregated together for the
purpose of determining the availability of any rights and applicability of any obligations under
this Agreement.

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

16

 

existence of this right will not preclude any such Person from pursuing any other
rights and remedies at law or in equity that such Person may have.

     Section 3.07 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 3.08 Headings. The headings in this Agreement are for convenience of
reference only and shall not limit or otherwise affect the meaning hereof.

     Section 3.09 Governing Law. THIS AGREEMENT WILL BE CONSTRUED IN ACCORDANCE WITH, AND
GOVERNED BY, THE LAWS OF THE STATE OF NEW YORK.

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

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

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

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

     Section 3.14 Obligations Limited to Parties to Agreement. Each of the Parties hereto
covenants, agrees and acknowledges that no Person other than the Investors (and their permitted
transferees and assignees) and the Partnership shall have any obligation hereunder and that,
notwithstanding that one or more of the Investors may be a corporation, partnership or limited
liability company, no recourse under this Agreement or under any documents or instruments delivered
in connection herewith or therewith shall be had against any former, current or future director,
officer, employee, agent, general or limited partner, manager, member, stockholder or Affiliate of
any of the Investors or any former, current or future director, officer, employee, agent, general
or limited partner, manager, member, stockholder or Affiliate of any of the

17

 

foregoing, whether by the enforcement of any assessment or by any legal or equitable proceeding, or by virtue of any
applicable Law, it being expressly agreed and acknowledged that no personal liability whatsoever
shall attach to, be imposed on or otherwise be incurred by any former, current or future director,
officer, employee, agent, general or limited partner, manager, member, stockholder or Affiliate of any of the Investors or any
former, current or future director, officer, employee, agent, general or limited partner, manager,
member, stockholder or Affiliate of any of the foregoing, as such, for any obligations of the
Investors under this Agreement or any documents or instruments delivered in connection herewith or
therewith or for any claim based on, in respect of or by reason of such obligation or its creation,
except in each case for any transferee or assignee of a Investor hereunder.

     Section 3.15 Interpretation. Article and Section references 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. The word
“including” shall mean “including but not limited to.” Whenever any determination, consent or
approval is to be made or given by an Investor under this Agreement, such action shall be in such
Investor’s sole discretion unless otherwise specified.

[Signature pages to follow]

18

 

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

	 	 	 	 	 
	 	BUCKEYE PARTNERS, L.P.

 	 
	 	By:  	BUCKEYE GP LLC
 	 
	 	 	(its General Partner) 	 
	 	 	 
	 	By:  	                     /s/ Keith E. St.Clair
 	 
	 	 	Keith E. St.Clair 	 
	 	 	Senior Vice President and Chief Financial Officer 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

AT MLP Fund, LLC

 	 
	 	By:  	/s/ Chris Linder
 	 
	 	 	Name:  	Chris Linder 	 
	 	 	Title:  	Vice President 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

ClearBridge Energy MLP Fund Inc.

 	 
	 	By:  	ClearBridge Advisors, LLC
 

	 
	 	By: 	/s/ Harry D. Cohen 	 
	 	 	Title:  	Harry D. Cohen 	 
	 	 	Title:  	Managing Director &

Chief Investment Officer 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

Cohen & Steers Capital Management, Inc.

 	 
	 	By:  	/s/ Adam Derechin
 	 
	 	 	Name:  	Adam Derechin 	 
	 	 	Title:  	Chief Operating Officer 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

Tortoise Energy Capital Corporation

 	 
	 	By:  	/s/ Zachary A. Hamel
 	 
	 	 	Name:  	Zachary A. Hamel 	 
	 	 	Title:  	Senior Vice President 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

Tortoise Energy Infrastructure Corporation

 	 
	 	By:  	/s/ Zachary A. Hamel
 	 
	 	 	Name:  	Zachary A. Hamel 	 
	 	 	Title:  	Senior Vice President 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

Tortoise North American Energy Corporation

 	 
	 	By:  	/s/ Zachary A. Hamel
 	 
	 	 	Name:  	Zachary A. Hamel 	 
	 	 	Title:  	Senior Vice President 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

Tortoise MLP Fund, Inc.

 	 
	 	By:  	/s/ Zachary A. Hamel
 	 
	 	 	Name:  	Zachary A. Hamel 	 
	 	 	Title:  	President 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

R3 Capital Partners Master (DE), L.P.
 	 
	 	 	 
	 	By:  	BlackRock Investment Management, LLC,
 	 
	 	 	its Investment Manager 	 
	 	 	 	 
	 	By:  	                   /s/ Paul H. Tice
 	 
	 	 	Name:  	Paul H. Tice 	 
	 	 	Title:  	Managing Director 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

Harvest Infrastructure Partners Fund LLC

 	 
	 	By:  	/s/ Anthony Merhige
 	 
	 	 	Name:  	Anthony Merhige 	 
	 	 	Title:  	G.C. of Managing Member 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

Harvest Sharing LLC

 	 
	 	By:  	/s/ Anthony Merhige
 	 
	 	 	Name:  	Anthony Merhige 	 
	 	 	Title:  	G.C. of Managing Member 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

Harvest MLP Partners

 	 
	 	By:  	/s/ Anthony Merhige
 	 
	 	 	Name:  	Anthony Merhige 	 
	 	 	Title:  	G.C. of Investment Advisor 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

Harvest MLP Partners II

 	 
	 	By:  	/s/ Anthony Merhige
 	 
	 	 	Name:  	Anthony Merhige 	 
	 	 	Title:  	G.C. of Investment Advisor 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR

Harvest MSRA

 	 
	 	By:  	/s/ Anthony Merhige
 	 
	 	 	Name:  	Anthony Merhige 	 
	 	 	Title:  	G.C. of Investment Advisor 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

AP Capital Holdings LLC

 	 
	 	By:  	/s/ Anthony Merhige
 	 
	 	 	Name:  	Anthony Merhige 	 
	 	 	Title:  	G.C. of Investment Advisor 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

Fiduciary Asset Management, LLC

 	 
	 	By:  	/s/ Wiley Angell
 	 
	 	 	Name:  	Wiley Angell — Portfolio Manager 	 
	 	 	Title:  	President and Chief Executive Officer

FAMCO MLP & Energy Infrastructure Fund 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

SOF INVESTMENTS, L.P.

 	 
	 	By:  	/s/ Marc R. Lisker
 	 
	 	 	Name:  	Marc R. Lisker 	 
	 	 	Title:  	General Counsel 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

Taconic Opportunity Fund L.P.
 	 
	 	By:  	                                               Taconic Capital Advisors L.P.
 	 
	 	 	 
	 	By:  	                    /s/ Josh Miller
 	 
	 	 	Name:  	Josh Miller 	 
	 	 	Title:  	Principal 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

THE NORTHWESTERN MUTUAL LIFE
INSURANCE COMPANY

 	 
	 	By:  	/s/ Jerome R. Baier
 	 
	 	 	Name:  	Jerome R. Baier 	 
	 	 	Title:  	Its Authorized Representative 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

Fidelity Securities Fund: Fidelity

Dividend Growth Fund

 	 
	 	By:  	/s/ Jeffrey Christian
 	 
	 	 	Name:  	Jeffrey Christian 	 
	 	 	Title:  	Deputy Treasurer 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

Fidelity Advisor Series I: Fidelity

Advisor Dividend Growth Fund

 	 
	 	By:  	/s/ Jeffrey Christian
 	 
	 	 	Name:  	Jeffrey Christian 	 
	 	 	Title:  	Deputy Treasurer 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

Variable Insurance Products Fund

III: Balanced Portfolio

 	 
	 	By:  	/s/ Jeffrey Christian
 	 
	 	 	Name:  	Jeffrey Christian 	 
	 	 	Title:  	Deputy Treasurer 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

Variable Insurance Products Fund

II: Contrafund Portfolio

 	 
	 	By:  	/s/ Jeffrey Christian
 	 
	 	 	Name:  	Jeffrey Christian 	 
	 	 	Title:  	Deputy Treasurer 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

Fidelity Puritan Trust: Fidelity

Balanced Fund

 	 
	 	By:  	/s/ Jeffrey Christian
 	 
	 	 	Name:  	Jeffrey Christian 	 
	 	 	Title:  	Deputy Treasurer 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

Fidelity Advisor Series I: Fidelity

Advisor Balanced Fund

 	 
	 	By:  	/s/ Jeffrey Christian
 	 
	 	 	Name:  	Jeffrey Christian 	 
	 	 	Title:  	Deputy Treasurer 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

Fidelity Devonshire Trust: Fidelity

Series All-Sector Equity Fund

 	 
	 	By:  	/s/ Jeffrey Christian
 	 
	 	 	Name:  	Jeffrey Christian 	 
	 	 	Title:  	Deputy Treasurer 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

RCH Energy MLP Fund, L.P.
 	 
	 	 	 
	 	By: RCH Energy MLP Fund GP, L.P.; its general partner
 	 
	 	 	 
	 	By: RR Advisors, LLC; its general partner
 	 
	 	 	 
	 	By:  	                /s/ Robert J. Raymond
 	 
	 	 	Name:  	Robert J. Raymond 	 
	 	 	Title:  	Sole-Member 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

KAYNE ANDERSON MLP INVESTMENT

COMPANY

 	 
	 	By:  	/s/ James C. Baker
 	 
	 	 	Name:  	James C. Baker 	 
	 	 	Title:  	Executive Vice President 	 
	 
	 	INVESTOR:

KAYNE ANDERSON ENERGY TOTAL

RETURN FUND, INC.

 	 
	 	By:  	/s/ James C. Baker
 	 
	 	 	Name:  	James C. Baker 	 
	 	 	Title:  	Executive Vice President 	 
	 
	 	INVESTOR:

KAYNE ANDERSON ENERGY DEVELOPMENT COMPANY

 	 
	 	By:  	/s/ James C. Baker
 	 
	 	 	Name:  	James C. Baker 	 
	 	 	Title:  	Executive Vice President 	 
	 
	 	INVESTOR:

KAYNE ANDERSON MIDSTREAM/ENERGY

FUND, INC.

 	 
	 	By:  	/s/ James C. Baker
 	 
	 	 	Name:  	James C. Baker 	 
	 	 	Title:  	Executive Vice President 	 
	 
	 	INVESTOR:

KAYNE MIDSTREAM SPECIALTY FUND, LP

 	 
	 	By: Kayne Anderson Capital Advisors, L.P.
 	 
	 	 	its general partner 	 
	 	 	 
	 	By:  	             /s/ David Shladovsky
 	 
	 	 	Name:  	David Shladovsky 	 
	 	 	Title:  	General Counsel 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

KAYNE ANDERSON MLP FUND, LP
 	 
	 	 	 
	 	By:  	             Kayne Anderson Capital Advisors, L.P.
 	 
	 	 	its general partner 	 
	 	 	 
	 	By:  	             /s/ David Shladovsky
 	 
	 	 	Name:  	David Shladovsky 	 
	 	 	Title:  	General Counsel 	 
	 
	 	INVESTOR:

KAYNE ANDERSON MIDSTREAM

INSTITUTIONAL FUND, LP
 	 
	 	 	 
	 	By:  	             Kayne Anderson
Capital Advisors, L.P.
its general partner
 	 
	 	 	 
	 	By:  	             /s/ David Shladovsky
 	 
	 	 	Name:  	David Shladovsky 	 
	 	 	Title:  	General Counsel 	 
	 
	 	INVESTOR:

KAYNE ANDERSON REAL ASSETS FUND, LP
 	 
	 	 	 
	 	By:  	             Kayne Anderson Capital Advisors, L.P.
 	 
	 	 	its general partner 	 
	 	 	 
	 	By:  	             /s/ David Shladovsky
 	 
	 	 	Name:  	David Shladovsky 	 
	 	 	Title:  	General Counsel 	 
	 
	 	INVESTOR:

KAYNE ANDERSON CAPITAL INCOME

PARTNERS (QP), LP
 	 
	 	 	 
	 	By:  	             Kayne Anderson Capital Advisors, L.P.
 	 
	 	 	its general partner 	 
	 	 	 
	 	By:  	             /s/ David Shladovsky
 	 
	 	 	Name:  	David Shladovsky 	 
	 	 	Title:  	General Counsel 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

	 	 	 	 	 
	 	INVESTOR:

KAYNE ANDERSON INCOME PARTNERS, LP
 	 
	 	 	 
	 	By:  	             Kayne Anderson Capital Advisors, L.P.
 	 
	 	 	its general partner 

	 
	 	By:  	             /s/ David Shladovsky
 	 
	 	 	Name:  	David Shladovsky 	 
	 	 	Title:  	General Counsel 	 

Signature Page to Registration Rights Agreement

(PIPE Investors)

 

 

Schedule A — Investor Name; Notice and Contact Information

	 	 	 	 	 
	 	 	 	 	Opt-Out
	 	 	 	 	at Date
	Investor	 	Address	 	Hereof
	AT MLP Fund, LLC
	 	Chris Linder 

1700 Lincoln Street, Suite 2550

Denver, Colorado 80203

Fax: 720.221.5033
	 	 
	ClearBridge Energy MLP Fund Inc.
	 	Barbara Brooke Manning 

General Counsel & Chief

Compliance Officer
ClearBridge
Advisors LLC
620 8th Avenue NY,
NY 10018

bbmanning@clearbridgeadvisors.com

Cc: Pat Collier
	 	 
	Cohen & Steers Global Income
Builder
Fund
	 	c/o Cohen & Steers Capital
Management, Inc.

280 Park Avenue, 10th Floor

New York, NY 10017
	 	 
	Cohen & Steers Global Infrastructure
Fund, Inc.
	 	c/o Cohen & Steers Capital
Management, Inc.

280 Park Avenue, 10th Floor

New York, NY 10017
	 	 
	Cohen & Steers Select Utility Fund
	 	c/o Cohen & Steers Capital
Management, Inc.

280 Park Avenue, 10th Floor

New York, NY 10017
	 	 
	Tortoise Energy Infrastructure
Corporation
	 	Zachary A. Hamel CFA —
Managing Director
Tortoise
Capital Advisors, LLC

11550 Ash Street, Suite 300

Leawood, KS 66211
	 	 
	Tortoise Energy Capital Corporation
	 	Zachary A. Hamel CFA —
Managing Director
Tortoise
Capital Advisors, LLC

11550 Ash Street, Suite 300

Leawood, KS 66211
	 	 

Schedule A to Registration Rights Agreement

 

 

	 	 	 	 	 
	 	 	 	 	Opt-Out
	 	 	 	 	at Date
	Investor	 	Address	 	Hereof
	Tortoise North American
Energy Corporation
	 	Zachary A. Hamel CFA — Managing Director

Tortoise Capital Advisors, LLC

11550 Ash Street, Suite 300

Leawood, KS 66211
	 	 
	Tortoise MLP Fund, Inc.
	 	Zachary A. Hamel CFA — Managing Director

Tortoise Capital Advisors, LLC

11550 Ash Street, Suite 300

Leawood, KS 66211
	 	 
	R3 Capital Partners
Master (DE), L.P.
	 	Paul Tice 

Managing Director

BlackRock, Inc.

Park Avenue Plaza

55 East 52nd Street

New York, NY 10055

212-810-8562
	 	 
	Harvest Infrastructure
Partners Fund LLC
	 	Harvest 

Infrastructure Partners 

Fund LLC

100 West Lancaster Avenue

Second Floor

Wayne, Pennsylvania 19087

Attention: Anthony Merhige

Fax: 610-998-9775
	 	 
	Harvest Sharing LLC
	 	Harvest Sharing LLC 

100 West Lancaster Avenue

Second Floor

Wayne, Pennsylvania 19087

Attention: Anthony Merhige

Fax: 610-998-9775
	 	 

Schedule A to Registration Rights Agreement

 

 

	 	 	 	 	 
	 	 	 	 	Opt-Out
	 	 	 	 	at Date
	Investor	 	Address	 	Hereof
	Harvest MLP Partners
	 	Harvest MLP Partners 

100 West Lancaster Avenue

Second Floor

Wayne, Pennsylvania 19087

Attention: Anthony Merhige

Fax: 610-998-9775
	 	 
	Harvest MLP Partners II
	 	Harvest MLP Partners II 

100 West Lancaster Avenue

Second Floor

Wayne, Pennsylvania 19087

Attention: Anthony Merhige

Fax: 610-998-9775
	 	 
	Harvest MSRA
	 	Harvest MSRA 

100 West Lancaster Avenue

Second Floor

Wayne, Pennsylvania 19087

Attention: Anthony Merhige

Fax: 610-998-9775
	 	 
	AP Capital Holdings LLC
	 	AP Capital Holdings LLC 

100 West Lancaster Avenue

Second Floor

Wayne, Pennsylvania 19087

Attention: Anthony Merhige

Fax: 610-998-9775
	 	 
	FAMCO MLP & Energy
Infrastructure Fund
	 	Quinn Kiley 

8235 Forsyth Blvd., Suite 700

St. Louis, Missouri 63105

Fax: 314-446-1407
	 	 
	SOF Investments, L.P.
	 	MSD Capital, L.P. 

645 Fifth Avenue, 21st Floor

New York, NY 10022

Fax: 212-303-1772

Attention: Marcello Liquori
	 	 

Schedule A to Registration Rights Agreement

 

 

	 	 	 	 	 
	 	 	 	 	Opt-Out
	 	 	 	 	at Date
	Investor	 	Address	 	Hereof
	Taconic Opportunity Fund L.P.
	 	Michael Zaczyk 

Taconic Capital Advisors LP

450 Park Avenue

New York, NY 10022

Fax: 212-209-3124
	 	 
	The Northwestern Mutual Life

Insurance Company
	 	The Northwestern Mutual Life
Insurance
Company

720 E. Wisconsin Avenue.

Milwaukee, WI, 53202

Attention: Sean Twohig

Fax (414) 665-7124

With copy to Abim Kolawole, Esq.

Fax (414) 625-1748

E-mail: abimkolawole@northwesternmutual.com

	 	Yes
	Kayne Anderson MLP
Investment Company
	 	James C. Baker 

Kayne Anderson Capital Advisors, L.P.

717 Texas Avenue, Suite 3100

Houston, Texas 77002

Fax: 713-665-7359

	 	Yes
	Kayne Anderson
Energy Total Return
Fund, Inc.
	 	James C. Baker 

Kayne Anderson Capital Advisors, L.P.

717 Texas Avenue, Suite 3100

Houston, Texas 77002

Fax: 713-665-7359

	 	Yes
	Kayne Anderson
Energy Development
Company
	 	James C. Baker 

Kayne Anderson Capital Advisors, L.P.

717 Texas Avenue, Suite 3100

Houston, Texas 77002

Fax: 713-665-7359

	 	Yes

Schedule A to Registration Rights Agreement

 

 

	 	 	 	 	 
	 	 	 	 	Opt-Out
	 	 	 	 	at Date
	Investor	 	Address	 	Hereof
	Kayne Anderson
Midstream/Energy Fund,
Inc.
	 	James C. Baker 

Kayne Anderson Capital Advisors, L.P.

717 Texas Avenue, Suite 3100

Houston, Texas 77002

Fax: 713-665-7359

	 	Yes
	Kayne Midstream Specialty Fund, LP
	 	James C. Baker 

Kayne Anderson Capital Advisors, L.P.

717 Texas Avenue, Suite 3100

Houston, Texas 77002

Fax: 713-665-7359

	 	Yes
	Kayne Anderson MLP Fund, LP
	 	James C. Baker 

Kayne Anderson Capital Advisors, L.P.

717 Texas Avenue, Suite 3100

Houston, Texas 77002

Fax: 713-665-7359

	 	Yes
	Kayne Anderson Midstream
Institutional Fund, LP
	 	James C. Baker 

Kayne Anderson Capital Advisors, L.P.

717 Texas Avenue, Suite 3100

Houston, Texas 77002

Fax: 713-665-7359

	 	Yes
	Kayne Anderson Real Assets
Fund, LP
	 	James C. Baker 

Kayne Anderson Capital Advisors, L.P.

717 Texas Avenue, Suite 3100

Houston, Texas 77002

Fax: 713-665-7359

	 	Yes
	Kayne Anderson Capital
Income Partners (QP), LP
	 	James C. Baker 

Kayne Anderson Capital Advisors, L.P.

717 Texas Avenue, Suite 3100

Houston, Texas 77002

Fax: 713-665-7359

	 	Yes
	Kayne Anderson Income
Partners, LP
	 	James C. Baker 

Kayne Anderson Capital Advisors, L.P.

717 Texas Avenue, Suite 3100

Houston, Texas 77002

Fax: 713-665-7359

	 	Yes
	Ball & Co fbo
Fidelity Securities Fund: Fidelity Dividend
Growth Fund
	 	Andrew Boyd 

82 Devonshire St

V13H

Boston, MA 02109

	 	Yes

Schedule A to Registration Rights Agreement

 

 

	 	 	 	 	 
	 	 	 	 	Opt-Out
	 	 	 	 	at Date
	Investor	 	Address	 	Hereof
	Rowwater & Co fbo
Fidelity Advisor
Series I: Fidelity Advisor
Dividend Growth Fund
	 	Andrew Boyd 

82 Devonshire St

V13H

Boston, MA 02109

	 	Yes
	M Gardiner & Co fbo
Variable Insurance
Products Fund III:
Balanced Portfolio
	 	Andrew Boyd 

82 Devonshire St

V13H

Boston, MA 02109

	 	Yes
	Mag & Co fbo
Variable Insurance
Products Fund II:
Contrafund Portfolio
	 	Andrew Boyd 

82 Devonshire St

V13H

Boston, MA 02109

	 	Yes
	Ball & Co fbo
Fidelity Puritan
Trust: Fidelity Balanced
Fund
	 	Andrew Boyd 

82 Devonshire St

V13H

Boston, MA 02109

	 	Yes
	M Gardiner & Co fbo
Fidelity Advisor
Series I: Fidelity Advisor
Balanced Fund
	 	Andrew Boyd 

82 Devonshire St

V13H

Boston, MA 02109

	 	Yes
	Booth & Co fbo
Fidelity Devonshire
Trust: Fidelity Series
All-Sector Equity Fund
	 	Andrew Boyd 

82 Devonshire St

V13H

Boston, MA 02109

	 	Yes
	RCH Energy MLP Fund, L.P.
	 	RR Advisors, LLC 

3953 Maple Avenue

Suite 180

Dallas, Texas 75219

Attention: Robert Raymond & Sean Maher

Fax: (214) 871-8683
	 	 

Schedule A to Registration Rights Agreement

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