Document:

exv10w5

 

Exhibit 10.5

Execution Version

 

SECOND AMENDED AND RESTATED CREDIT AGREEMENT

$200,000,000 Revolving Credit Facility

$1,200,000,000 Term Loan

$500,000,000 Term Loan

dated as of

May 1, 2007

among

ENTERPRISE GP HOLDINGS L.P.

The Lenders Party Hereto,

CITICORP NORTH AMERICA, INC.,

as Administrative Agent,

LEHMAN COMMERCIAL PAPER INC.,

as Syndication Agent,

CITIBANK, N.A.,

as Issuing Bank

and

THE BANK OF NOVA SCOTIA, SUNTRUST BANK and

MIZUHO CORPORATE BANK, LTD.

as Co-Documentation Agents

CITIGROUP GLOBAL MARKETS INC.

and

LEHMAN BROTHERS INC.

as Co-Arrangers and Joint Bookrunners

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE I DEFINITIONS
	 	 	1	 
	 
	 	 	 	 
	Section 1.01 Defined Terms
	 	 	 1	 
	Section 1.02 Classification of Loans and Borrowings
	 	 	15	 
	Section 1.03 Terms Generally
	 	 	15	 
	Section 1.04 Accounting Terms; GAAP
	 	 	16	 
	Section 1.05 Annualized Financial Information
	 	 	16	 
	 
	 	 	 	 
	ARTICLE II THE CREDITS
	 	 	16	 
	 
	 	 	 	 
	Section 2.01 Commitments
	 	 	16	 
	Section 2.02 Loans and Borrowings
	 	 	17	 
	Section 2.03 Requests for Borrowing
	 	 	18	 
	Section 2.04 Reserved
	 	 	18	 
	Section 2.05 Existing Credit Agreement
	 	 	18	 
	Section 2.06 Letters of Credit
	 	 	19	 
	Section 2.07 Funding of Borrowings
	 	 	23	 
	Section 2.08 Interest Elections
	 	 	23	 
	Section 2.09 Termination and Reduction of Commitments
	 	 	25	 
	Section 2.10 Repayment of Loans; Evidence of Debt
	 	 	25	 
	Section 2.11 Prepayment of Loans
	 	 	26	 
	Section 2.12 Fees
	 	 	27	 
	Section 2.13 Interest
	 	 	28	 
	Section 2.14 Alternate Rate of Interest
	 	 	29	 
	Section 2.15 Illegality; Increased Costs
	 	 	30	 
	Section 2.16 Break Funding Payments
	 	 	31	 
	Section 2.17 Taxes
	 	 	31	 
	Section 2.18 Payments Generally; Pro Rata Treatment; Sharing of Set-offs
	 	 	33	 
	Section 2.19 Mitigation Obligations; Replacement of Lenders
	 	 	34	 
	 
	 	 	 	 
	ARTICLE III REPRESENTATIONS AND WARRANTIES
	 	 	35	 
	 
	 	 	 	 
	Section 3.01 Organization; Powers
	 	 	35	 
	Section 3.02 Authorization; Enforceability
	 	 	36	 
	Section 3.03 Governmental Approvals; No Conflicts
	 	 	36	 
	Section 3.04 Financial Condition; No Material Adverse Change
	 	 	36	 
	Section 3.05 Reserved
	 	 	36	 
	Section 3.06 Litigation and Environmental Matters
	 	 	36	 
	Section 3.07 Compliance with Laws; No Default
	 	 	37	 
	Section 3.08 Investment and Holding Company Status
	 	 	37	 
	Section 3.09 Taxes
	 	 	37	 
	Section 3.10 ERISA
	 	 	37	 
	Section 3.11 Disclosure
	 	 	37	 
	Section 3.12 Subsidiaries
	 	 	37	 
	Section 3.13 Margin Securities
	 	 	38	 
	Section 3.14 Reserved
	 	 	38	 
	Section 3.15 Not a “Reportable Transaction
	 	 	38	 
	Section 3.16 Priority; Security Matters
	 	 	38	 
	Section 3.17 Foreign Assets Control Regulation
	 	 	38	 
	 
	 	 	 	 
	ARTICLE IV CONDITIONS
	 	 	38	 
	 
	 	 	 	 
	Section 4.01 Effective Date
	 	 	38	 
	Section 4.02 Each Credit Event
	 	 	40	 

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	 	 	Page	 
	 
	 	 	 	 
	ARTICLE V AFFIRMATIVE COVENANTS
	 	 	40	 
	 
	 	 	 	 
	Section 5.01 Financial Statements and Other Information
	 	 	40	 
	Section 5.02 Notices of Material Events
	 	 	41	 
	Section 5.03 Existence; Conduct of Business
	 	 	41	 
	Section 5.04 Further Assurances
	 	 	41	 
	Section 5.05 Maintenance of Properties; Insurance
	 	 	42	 
	Section 5.06 Books and Records; Inspection Rights
	 	 	42	 
	Section 5.07 Compliance with Laws
	 	 	42	 
	Section 5.08 Use of Proceeds and Letters of Credit
	 	 	42	 
	Section 5.09 Environmental Matters
	 	 	42	 
	Section 5.10 ERISA Information
	 	 	43	 
	Section 5.11 Taxes
	 	 	43	 
	 
	 	 	 	 
	ARTICLE VI NEGATIVE COVENANTS
	 	 	43	 
	 
	 	 	 	 
	Section 6.01 Indebtedness
	 	 	44	 
	Section 6.02 Liens
	 	 	44	 
	Section 6.03 Fundamental Changes
	 	 	44	 
	Section 6.04 Reserved
	 	 	45	 
	Section 6.05 Restricted Payments
	 	 	45	 
	Section 6.06 Restrictive Agreements
	 	 	45	 
	Section 6.07 Financial Condition Covenant
	 	 	46	 
	 
	 	 	 	 
	ARTICLE VII EVENTS OF DEFAULT
	 	 	46	 
	 
	 	 	 	 
	ARTICLE VIII THE AGENTS
	 	 	49	 
	 
	 	 	 	 
	ARTICLE IX MISCELLANEOUS
	 	 	51	 
	 
	 	 	 	 
	Section 9.01 Notices
	 	 	51	 
	Section 9.02 Waivers; Amendments
	 	 	53	 
	Section 9.03 Expenses; Indemnity; Damage Waiver
	 	 	54	 
	Section 9.04 Successors and Assigns
	 	 	55	 
	Section 9.05 Survival
	 	 	57	 
	Section 9.06 Counterparts; Integration; Effectiveness
	 	 	58	 
	Section 9.07 Severability
	 	 	58	 
	Section 9.08 Right of Setoff
	 	 	58	 
	Section 9.09 Governing Law; Jurisdiction; Consent to Service of Process
	 	 	58	 
	Section 9.10 WAIVER OF JURY TRIAL
	 	 	59	 
	Section 9.11 Headings
	 	 	59	 
	Section 9.12 Confidentiality
	 	 	59	 
	Section 9.13 Interest Rate Limitation
	 	 	60	 
	Section 9.14 Reserved
	 	 	60	 
	Section 9.15 Separateness
	 	 	60	 
	Section 9.16 USA Patriot Act Notice
	 	 	61	 
	 
	 	 	 	 
	SCHEDULES:
	 	 	 	 
	 
	 	 	 	 
	Schedule 2.01 — Commitments
	 	 	 	 
	Schedule 3.06 — Disclosed Matters
	 	 	 	 
	Schedule 3.12 — Subsidiaries
	 	 	 	 
	Schedule 6.02 — Permitted Liens
	 	 	 	 
	Schedule 6.06 —Restrictive Agreements
	 	 	 	 

- ii -

 

	 	 	 
	EXHIBITS:
	 	 
	 
	 	 
	Exhibit A —

	 	Form of Assignment and Acceptance
	Exhibit B —

	 	Form of Borrowing Request
	Exhibit C —

	 	Form of Interest Election Request
	Exhibit D —

	 	Reserved
	Exhibit E —

	 	Form of Compliance Certificate
	Exhibit F-1 —

	 	Form of Revolving Credit Note
	Exhibit F-2

	 	Form of Term Note (Debt Bridge)
	Exhibit F-3

	 	Form of Term Note (Equity Bridge)
	Exhibit G —

	 	List of Security Instruments

- iii -

 

     THIS SECOND AMENDED AND RESTATED CREDIT AGREEMENT (this “Agreement”) dated as of May
1, 2007, among ENTERPRISE GP HOLDINGS L.P., a Delaware limited partnership; the LENDERS party
hereto; CITICORP NORTH AMERICA, INC., as Administrative Agent; LEHMAN COMMERCIAL PAPER INC., as
Syndication Agent; CITIBANK, N.A., as Issuing Bank; and THE BANK OF NOVA SCOTIA, SUNTRUST BANK and
MIZUHO CORPORATE BANK, LTD. as Co-Documentation Agents.

     The Borrower, the lenders party thereto, the Administrative Agent and certain other parties
thereto entered into the Existing Credit Agreement (hereinafter defined). The Borrower now
requests that the Administrative Agent, the Issuing Bank and the Lenders amend and restate the
Existing Credit Agreement and provide the Borrower with a credit facility pursuant to which the
Lenders will commit to make revolving credit loans in a principal amount of up to $200,000,000
outstanding at any time and term loans in an original principal amount of up to $1,700,000,000.

     In connection therewith, the Administrative Agent has agreed to serve in such capacity for the
Lenders and the Administrative Agent, the Syndication Agent, the Co-Documentation Agents, the
Issuing Bank and the Lenders are agreeable to the Borrower’s request, subject to the terms of this
Agreement.

     NOW THEREFORE, in consideration of the foregoing and the mutual covenants set forth herein,
the Borrower, the Administrative Agent, the Syndication Agent, the Co-Documentation Agents, the
Issuing Bank and the Lenders agree to amend and restate the Existing Credit Agreement in its
entirety as follows:

ARTICLE I

Definitions

     Section 1.01 Defined Terms. As used in this Agreement, the following terms have the
meanings specified below:

     “ABR”, when used in reference to any Loan or Borrowing, refers to a Loan, or Loans, in
the case of a Borrowing, which bear interest at a rate determined by reference to the Alternate
Base Rate.

     “Administrative Agent” means Citicorp North America, Inc., in its capacity as
administrative agent for the Lenders hereunder.

     “Administrative Questionnaire” means an Administrative Questionnaire in a form
supplied by the Administrative Agent.

     “Affiliate” means, with respect to a specified Person, another Person that directly,
or indirectly through one or more intermediaries, Controls or is Controlled by or is under common
Control with the Person specified.

     “Agreement” means this Second Amended and Restated Credit Agreement dated as of May 1,
2007, among Enterprise GP Holdings L.P., a Delaware limited partnership; the Lenders
party hereto; Citicorp North America, Inc., as Administrative Agent; Lehman Commercial Paper

 

 

Inc. as Syndication Agent; Citibank, N.A., as Issuing Bank; and The Bank of Nova Scotia, SunTrust
Bank and Mizuho Corporate Bank, Ltd., as Co-Documentation Agents.

     “Alternate Base Rate” means for any day, a rate per annum equal to the greater of (a)
the Prime Rate in effect on such day and (b) the Federal Funds Effective Rate in effect on such day
plus 0.50%. Any change in the Alternate Base Rate due to a change in the Prime Rate or the Federal
Funds Effective Rate shall be effective as of the opening of business on the effective day of such
change in the Prime Rate or the Federal Funds Effective Rate, as applicable.

     “Applicable Percentage” means, with respect to any Lender, the percentage of the total
amount of outstanding Loans (or if no Loans are outstanding, Commitments) represented by the amount
of such Lender’s outstanding Loans (or if no Loans are outstanding, Commitments), as modified from
time to time to reflect any assignments permitted by Section 9.04.

     “Applicable Rate” means, for any day, with respect to the Loans, or with respect to
the commitment fees payable hereunder, as the case may be, the applicable rate per annum set forth
below under the caption “Eurodollar Spread,” “ABR Spread,” or “Commitment Fee,” as the case may be:

	 	 	 	 	 	 	 	 	 	 	 	 	 
	Pricing Grid
	 	 	ABR	 	Eurodollar	 	 
	Class	 	Spread	 	Spread	 	Commitment Fee
	Revolving Credit Loans (first
105 days after Effective Date)

	 	 	0.25	%	 	 	1.75	%	 	 	0.375	%
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Revolving Credit Loans

(106th day after 

Effective Date through Maturity 

Date)

	 	 	0.25	%	 	 	2.00	%	 	 	0.375	%
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Term Loans (Debt Bridge) (first
105 days after Effective Date)
and Term Loans (Equity Bridge)
(all dates)

	 	 	0.25	%	 	 	1.75	%	 	 	N/A	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 
	Term Loans (Debt Bridge)

(106th day after 

Effective Date through Maturity 

Date)

	 	 	0.25	%	 	 	2.00	%	 	 	N/A	 

     “Assignment and Acceptance” means an assignment and acceptance entered into by a
Lender and an assignee (with the consent of any party whose consent is required by Section
9.04), and accepted by the Administrative Agent, in substantially the form of Exhibit A
or any other form approved by the Administrative Agent.

     “Availability Period” means the period from and including the Effective Date to but
excluding the earlier of the Maturity Date and the date of termination of the Revolving Credit
Commitments.

- 2 -

 

     “Available Cash” has the meaning set forth in the Partnership Agreement in effect on
the date of this Agreement.

     “Board” means the Board of Governors of the Federal Reserve System of the United
States of America.

     “Borrower” means Enterprise GP Holdings L.P., a Delaware limited partnership.

     “Borrower’s IPO” means the initial public offering in January, 2006, of units
representing limited partner interests in the Borrower.

     “Borrowing” means Loans of the same Class and Type, made, converted or continued on
the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in
effect.

     “Borrowing Request” means a request by the Borrower for a Borrowing in accordance with
Section 2.03 and being in the form attached hereto as Exhibit B.

     “Business Day” means any day that is not a Saturday, Sunday or other day on which
commercial banks in New York City or Houston are authorized or required by law to remain closed;
provided that, when used in connection with a Eurodollar Loan, the term “Business Day” shall also
exclude any day on which banks are not open for dealings in dollar deposits in the London interbank
market.

     “Capital Lease Obligations” of any Person means the obligations of such Person to pay
rent or other amounts under any lease of (or other arrangement conveying the right to use) real or
personal property, or a combination thereof, which obligations are required to be classified and
accounted for as capital leases on a balance sheet of such Person under GAAP, and the amount of
such obligations shall be the capitalized amount thereof determined in accordance with GAAP.

     “CERCLA” means the Comprehensive Environmental, Response, Compensation, and Liability
Act of 1980, as amended.

     “Change in Control” means Duncan shall cease to own or Control, directly or
indirectly, at least a majority (on a fully converted, fully diluted basis) of the economic
interest in the partnership interests of the Borrower.

     “Change in Law” means (a) the adoption of any law, rule or regulation after the date
of this Agreement, (b) any change in any law, rule or regulation or in the interpretation or
application thereof by any Governmental Authority after the date of this Agreement or (c)
compliance by any Lender or the Issuing Bank (or, for purposes of Section 2.15(b), by any
lending office of such Lender or by such Lender’s or the Issuing Bank’s holding company, if any)
with any request, guideline or directive (whether or not having the force of law) of any
Governmental Authority made or issued after the date of this Agreement.

     “Class”, when used in reference to any Loan or Borrowing, refers to whether such Loan,
or the Loans comprising such Borrowing, are Revolving Credit Loans, Term Loans (Debt

- 3 -

 

Bridge) or Term Loans (Equity Bridge) and, when used in reference to any Commitment, refers to
whether such Commitment is a Revolving Credit Commitment, Term Commitment (Debt Bridge) or Term
Commitment (Equity Bridge).

     “Code” means the Internal Revenue Code of 1986, as amended from time to time.

     “Co-Documentation Agents” means The Bank of Nova Scotia, SunTrust Bank and Mizuho
Corporate Bank, Ltd., each in its capacity as co-documentation agent for the Lenders hereunder.

     “Collateral” means all of the assets described in the Security Instruments.

     “Commitment” means, with respect to each Lender, such Lender’s Revolving Credit
Commitment, Term Commitment (Debt Bridge) or Term Commitment (Equity Bridge), as applicable.

     “Consolidated EBITDA” means for any period, without duplication, the sum (without
duplication) of (i) the amount of the distributions payable with respect to such period by
Enterprise, TEPPCO or ETE to the Borrower or any wholly-owned Subsidiary of the Borrower which owns
any Enterprise Common Units, TEPPCO Common Units or ETE Common Units, with respect to such
Enterprise Common Units, TEPPCO Common Units or ETE Common Units and which are actually made on or
prior to the date the financial statements with respect to such period referred to in Section
5.01 are required to be delivered by the Borrower, plus (ii) the amount of the distributions
payable with respect to such period by Enterprise GP, TEPPCO GP, ETE GP or any Subsidiary of the
Borrower to the Borrower or any wholly-owned Subsidiary of the Borrower which are actually made on
or prior to the date the financial statements with respect to such period referred to in
Section 5.01 are required to be delivered by the Borrower, plus (iii) operating income of
the Borrower and its consolidated Subsidiaries for such period, plus (iv) depreciation and
amortization for such period, plus (v) cash distributions or dividends received by the Borrower
during such period from entities not consolidated with the Borrower, plus (vi) other cash income
received by the Borrower and its consolidated Subsidiaries during such period, minus (vii)
operating lease expense for such period to the extent not already deducted in the calculation of
operating income, determined in each case, on a consolidated basis in accordance with GAAP.
Consolidated EBITDA will not include any extraordinary, unusual or non-recurring gains or losses
from asset sales.

     “Consolidated Indebtedness” means the Indebtedness of the Borrower and its
consolidated Subsidiaries determined on a consolidated basis as of any date.

     “Consolidated Net Worth” means as to any Person, at any date of determination, the
sum of preferred stock (if any), par value of common stock, capital in excess of par value of
common stock, partners’ capital or equity, and retained earnings, less treasury stock (if any), of
such Person, all as determined on a consolidated basis.

     “Control” means the possession, directly or indirectly, of the power to direct or
cause the direction of the management or policies of a Person, whether through the ability to
exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings
correlative thereto.

- 4 -

 

     “Default” means any event or condition which constitutes an Event of Default or which
upon notice, lapse of time or both would, unless cured or waived, become an Event of Default.

     “Disclosed Matters” means the actions, suits and proceedings and the environmental
matters disclosed in Schedule 3.06.

     “dollars” or “$” refers to lawful money of the United States of America.

     “Duncan” means, collectively, individually or in any combination, Dan L. Duncan, his
wife, descendants, heirs and/or legatees and/or distributees of Dan L. Duncan’s estate, and/or
trusts established for the benefit of his wife, descendants, such legatees and/or distributees
and/or their respective descendants, heirs, legatees and distributees.

     “EDGAR” means the Electronic Data Gathering, Analysis, and Retrieval computer system
for the receipt, acceptance, review and dissemination of documents submitted to the SEC in
electronic format.

     “Effective Date” means the date on or before May 31, 2007 specified in the notice
referred to in the penultimate sentence of Section 4.01.

     “Enterprise” means Enterprise Products Partners L.P., a Delaware limited partnership.

     “Enterprise Common Units” mean the common units representing limited partner interests
in Enterprise.

     “Enterprise GP” means Enterprise Products GP, LLC, a Delaware limited liability
company and a wholly owned subsidiary of Borrower and the sole general partner of Enterprise.

     “Environmental Laws” means all laws, rules, regulations, codes, ordinances, orders,
decrees, judgments, injunctions, notices or binding agreements issued, promulgated or entered into
by any Governmental Authority, relating in any way to the environment, preservation or reclamation
of natural resources, the management, release or threatened release of any Hazardous Material or to
health and safety matters.

     “Environmental Liability” means any liability, contingent or otherwise (including any
liability for damages, costs of environmental remediation, fines, penalties or indemnities), of the
Borrower or any Subsidiary directly or indirectly resulting from or based upon (a) violation of any
Environmental Law, (b) the generation, use, handling, transportation, storage, treatment or
disposal of any Hazardous Materials, (c) exposure to any Hazardous Materials, (d) the release or
threatened release of any Hazardous Materials into the environment or (e) any contract, agreement
or other consensual arrangement pursuant to which liability is assumed or imposed with respect to
any of the foregoing.

     “EOLP” means Enterprise Products Operating L.P., a Delaware limited partnership.

     “EPE Holdings” means EPE Holdings, LLC, a Delaware limited liability company.

- 5 -

 

     “Equity Bridge Lenders” means Citicorp North America, Inc. and Lehman Commercial Paper
Inc.

     “Equity Interest” means shares of the capital stock, partnership interests, membership
interests in a limited liability company, beneficial interests in a trust or other equity interests
in any Person, or any warrants, options or other rights to acquire such interests.

     “ERISA” means the Employee Retirement Income Security Act of 1974, as amended from
time to time.

     “ERISA Affiliate” means any trade or business (whether or not incorporated) that,
together with the Borrower, is treated as a single employer under Section 414(b) or (c) of the Code
or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single
employer under Section 414 of the Code.

     “ERISA Event” means (a) any “reportable event”, as defined in Section 4043 of ERISA or
the regulations issued thereunder with respect to a Plan (other than an event for which the 30-day
notice period is waived); (b) the existence with respect to any Plan of an “accumulated funding
deficiency” (as defined in Section 412 of the Code or Section 302 of ERISA), whether or not waived;
(c) the filing pursuant to Section 412(d) of the Code or Section 303(d) of ERISA of an application
for a waiver of the minimum funding standard with respect to any Plan; (d) the incurrence by the
Borrower or any of its ERISA Affiliates of any liability under Title IV of ERISA with respect to
the termination of any Plan; (e) the receipt by the Borrower or any ERISA Affiliate from the PBGC
or a plan administrator of any notice relating to an intention to terminate any Plan or Plans or to
appoint a trustee to administer any Plan; (f) the incurrence by the Borrower or any of its ERISA
Affiliates of any liability with respect to the withdrawal or partial withdrawal from any Plan or
Multiemployer Plan; or (g) the receipt by the Borrower or any ERISA Affiliate of any notice, or the
receipt by any Multiemployer Plan from the Borrower or any ERISA Affiliate of any notice,
concerning the imposition of Withdrawal Liability or a determination that a Multiemployer Plan is,
or is expected to be, insolvent or in reorganization, within the meaning of Title IV of ERISA.

     “ETE” means Energy Transfer Equity, L.P., a Delaware limited partnership.

     “ETE Common Units” means the common units representing limited partner interests in
ETE.

     “ETE GP” means LE GP, LLC, a Delaware limited liability company and the sole general
partner of ETE.

     “ETP” means Energy Transfer Partners, L.P., a Delaware limited partnership.

     “Eurocurrency Liabilities” has the meaning assigned to that term in Regulation D of
the Board, as in effect from time to time.

     “Eurodollar” when used in reference to any Loan or Borrowing, refers to a Loan, or
Loans, in the case of a Borrowing, which bear interest at a rate determined by reference to the
LIBO Rate.

- 6 -

 

     “Eurodollar Rate Reserve Percentage” of any Lender for any Interest Period for each
Eurodollar Borrowing means the reserve percentage applicable during such Interest Period (or if
more than one such percentage shall be so applicable, the daily average of such percentages for
those days in such Interest Period during which any such percentage shall be so applicable) under
regulations issued from time to time by the Board for determining the maximum reserve requirement
(including, without limitation, any emergency, supplemental or other marginal reserve requirement)
for such Lender with respect to liabilities or assets consisting of or including Eurocurrency
Liabilities having a term equal to such Interest Period.

     “Event of Default” has the meaning assigned to such term in Article VII.

     “Excluded Taxes” means, with respect to the Administrative Agent, any Lender, the
Issuing Bank or any other recipient of any payment to be made by or on account of any obligation of
the Borrower hereunder, (a) income or franchise taxes imposed on (or measured by) its net income or
revenue by the United States of America, by any state thereof or the District of Columbia or by the
jurisdiction under the laws of which such recipient is organized or in which its principal office
is located or, in the case of any Lender, in which its applicable lending office is located, (b)
any branch profits taxes imposed by the United States of America, any state thereof or the District
of Columbia or any similar tax imposed by any other jurisdiction in which the recipient is located
and (c) in the case of a Foreign Lender (other than an assignee pursuant to a request by the
Borrower under Section 2.19(b)), any withholding tax that is imposed on amounts payable to
such Foreign Lender at the time such Foreign Lender becomes a party to this Agreement (or
designates a new lending office) or is attributable to such Foreign Lender’s failure to comply with
Section 2.17(e).

     “Existing Credit Agreement” means that certain $200,000,000 Amended and Restated
Credit Agreement dated as of January 11, 2006, among Borrower, Citicorp North America, Inc., as
Administrative Agent, and the lenders and other agents party thereto.

     “Federal Funds Effective Rate” means, for any day, the weighted average of the rates
on overnight Federal funds transactions with members of the Federal Reserve System arranged by
Federal funds brokers, as published on the next succeeding Business Day by the Federal Reserve Bank
of New York, or, if such rate is not so published for any day that is a Business Day, the average
of the quotations for such day for such transactions received by the Administrative Agent from
three Federal funds brokers of recognized standing selected by it.

     “Financial Officer” means the chief financial officer, principal accounting officer,
treasurer or controller of the Borrower.

     “Foreign Lender” means any Lender that is organized under the laws of a jurisdiction
other than the United States of America, any state thereof or the District of Columbia.

     “GAAP” means generally accepted accounting principles in the United States of America.

     “Governmental Authority” means the government of the United States of America, any
other nation or any political subdivision thereof, whether state or local, and any agency,
authority, instrumentality, regulatory body, court, central bank or other entity exercising

- 7 -

 

executive, legislative, judicial, taxing, regulatory or administrative powers or functions of
or pertaining to government.

     “Hazardous Materials” means all explosive or radioactive substances or wastes and all
hazardous or toxic substances, wastes or other pollutants, including petroleum or petroleum
distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas,
infectious or medical wastes and all other substances or wastes of any nature, in each case
regulated pursuant to any Environmental Law.

     “Indebtedness” of any Person means, without duplication, (a) all obligations of such
Person for the repayment of money borrowed which are or should be shown on a balance sheet as debt
in accordance with GAAP, (b) obligations of such Person as lessee under leases which, in accordance
with GAAP, are capital leases, (c) guaranties of such Person of payment or collection of any
obligations described in clauses (a) and (b) of other Persons; provided, that clauses (a) and (b)
include, in the case of obligations of the Borrower or any Subsidiary, only such obligations as are
or should be shown as debt or capital lease liabilities on a consolidated balance sheet of the
Borrower in accordance with GAAP, and (d) all obligations of such Person under any synthetic lease,
tax retention operating lease, off-balance sheet loan or similar off-balance sheet financing if the
obligation under such synthetic lease, tax retention operating lease, off-balance sheet loan or
similar off-balance sheet financing, as the case may be, is considered indebtedness for borrowed
money for tax purposes but is classified as an operating lease in accordance with GAAP; provided,
further, that the liability of any Person as a general partner of a partnership for Indebtedness of
such partnership, if such partnership is not a subsidiary of such Person, shall not constitute
Indebtedness.

     “Indemnified Taxes” means Taxes other than Excluded Taxes.

     “Interest Election Request” means a request by the Borrower to convert or continue a
Borrowing in accordance with Section 2.08, and being in the form of attached Exhibit
C.

     “Interest Payment Date” means (a) with respect to any ABR Loan, each Quarterly Date,
and (b) with respect to any Eurodollar Loan, the last day of the Interest Period applicable to the
Borrowing of which such Loan is a part and, in the case of a Eurodollar Borrowing with an Interest
Period of more than three (3) months’ duration, the day that occurs three months after the first
day of such Interest Period.

     “Interest Period” means, with respect to any Eurodollar Borrowing, the period
commencing on the date of such Borrowing and ending on the numerically corresponding day in the
calendar month that is one, two, three or six months thereafter, as the Borrower may elect;
provided, that (a) if any Interest Period would end on a day other than a Business Day, such
Interest Period shall be extended to the next succeeding Business Day unless, in the case of a
Eurodollar Borrowing only, such next succeeding Business Day would fall in the next calendar month,
in which case such Interest Period shall end on the next preceding Business Day and (b) any
Interest Period pertaining to a Eurodollar Borrowing that commences on the last Business Day of a
calendar month (or on a day for which there is no numerically corresponding day in the last
calendar month of such Interest Period) shall end on the last Business Day of the last calendar
month of such Interest Period. For purposes hereof, the date of a Borrowing initially

- 8 -

 

shall be the date on which such Borrowing is made and thereafter shall be the effective date
of the most recent conversion or continuation of such Borrowing.

     “Issuing Bank” means Citibank, N.A., in its capacity as the issuer of Letters of
Credit hereunder, and its successors in such capacity as provided in Section 2.06(i). The
Issuing Bank may arrange for one or more Letters of Credit to be issued by Affiliates of
the Issuing Bank if the Borrower (in its sole discretion) approves such arrangement in writing, in
which case the term “Issuing Bank” shall include any such Affiliate with respect to Letters of
Credit issued by such Affiliate.

     “LC Disbursement” means a payment made by the Issuing Bank pursuant to a Letter of
Credit.

     “LC Exposure” means, at any time, the sum of (a) the aggregate undrawn amount of all
outstanding Letters of Credit at such time plus (b) the aggregate amount of all LC Disbursements
that have not yet been reimbursed by or on behalf of the Borrower at such time. The LC Exposure of
any Lender at any time shall be its Applicable Percentage of the total LC Exposure at such time.

     “Lenders” means the Persons listed on Schedule 2.01 and any other Person that
shall have become a party hereto pursuant to an Assignment and Acceptance, other than any such
Person that ceases to be a party hereto pursuant to an Assignment and Acceptance.

     “Letter of Credit” means any letter of credit issued hereunder pursuant to Section
2.06.

     “Leverage Ratio” means the ratio of Consolidated Indebtedness as of the last day of a
fiscal quarter divided by Consolidated EBITDA for the four fiscal quarter period then ended. The
Leverage Ratio will be re-calculated as of the end of each quarter and shall be effective upon the
delivery date of the compliance certificate as provided for in Section 5.01.

     “LIBO Rate” means, with respect to any Eurodollar Borrowing for any Interest Period,
(a) the rate per annum appearing at Reuters Reference LIBOR01 page (or on any successor thereto or
substitute therefor provided by Reuters, providing rate quotations comparable to those currently
provided on such page, as determined by the Administrative Agent from time to time for purposes of
providing quotations of interest rates applicable to dollar deposits in the London interbank
market) at approximately 11:00 a.m., London time, two Business Days prior to the commencement of
such Interest Period, as the rate for dollar deposits with a maturity comparable to such Interest
Period; (b) if for any reason the rate specified in clause (a) of this definition does not so
appear at Reuters Reference LIBOR01 page (or any successor thereto or substitute therefor provided
by Reuters), the rate per annum appearing on Bloomberg Financial Markets Service (or any successor
thereto) as the London interbank offered rate for deposits in dollars at approximately 11:00 a.m.,
London time, two Business Days prior to the commencement of such Interest Period for a maturity
comparable to such Interest Period; and (c) if the rate specified in clause (a) of this definition
does not so appear at Reuters Reference LIBOR01 page (or any successor thereto or substitute
therefor provided by Reuters) and if no rate specified in clause (b) of this definition so appears
on Bloomberg Financial Markets Service (or any successor thereto), the average of the interest
rates per annum at which dollar deposits of $5,000,000 and

- 9 -

 

for a maturity comparable to such Interest Period are offered by the respective principal London
offices of the Reference Banks in immediately available funds in the London interbank market at
approximately 11:00 a.m., London time, two Business Days prior to the commencement of such Interest
Period.

     “Lien” means, with respect to any asset, (a) any mortgage, deed of trust, lien,
pledge, hypothecation, encumbrance, charge or security interest in, on or of such asset, (b) the
interest of a vendor or a lessor under any conditional sale agreement, capital lease or title
retention agreement relating to such asset and (c) in the case of securities, any purchase option,
call or similar right of a third party with respect to such securities. For avoidance of doubt,
operating leases are not “Liens.” For avoidance of doubt, (i) transfer restrictions that do not
prevent the valid creation of security interests in the Collateral pursuant to the Security
Instruments and do not prevent foreclosure on such security interests, and (ii) operating leases,
shall not constitute Liens.

     “Loan Documents” means this Agreement, all promissory notes executed and delivered
pursuant to Section 2.10(e), all Letters of Credit and any letter of credit agreements
executed in connection therewith, the Security Instruments and the Borrowing Requests, together
with any other document, instrument or agreement (other than participation, agency or similar
agreements among the Lenders or between any Lender and any other bank or creditor with respect to
any Indebtedness or obligations of the Borrower or its Subsidiaries hereunder) now or hereafter
entered into in connection with the Loans or any other Indebtedness under this Agreement, as such
documents, instruments or agreements may be amended, supplemented, restated, or otherwise modified
from time to time.

     “Loans” means the Term Loans (Debt Bridge), Term Loans (Equity Bridge) and Revolving
Credit Loans made pursuant to this Agreement.

     “Material Adverse Change” means a material adverse change, from that in effect on the
date of formation of the Borrower, in the financial condition or results of operations of the
Borrower and its consolidated Subsidiaries, taken as a whole, as indicated in the most recent
quarterly or annual financial statements.

     “Material Adverse Effect” means a material adverse effect on financial condition or
results of operations of the Borrower and its Subsidiaries, taken as a whole.

     “Material Indebtedness” means Indebtedness (other than the Loans and Letters of
Credit), in an aggregate principal amount exceeding $25,000,000.

     “Material Subsidiary” means each Subsidiary that, as of the last day of the fiscal
year of the Borrower most recently ended prior to the relevant determination of Material
Subsidiaries, has a net worth determined in accordance with GAAP that is greater than 10% of the
Consolidated Net Worth of the Borrower as of such day.

     “Maturity Date” means the date that is 364 days after the Effective Date.

     “Multiemployer Plan” means a multiemployer plan as defined in Section 4001(a)(3) of
ERISA.

- 10 -

 

     “Obligations” means all obligations (monetary or otherwise) of the Borrower and each
of its Subsidiaries arising under or in connection with this Agreement and each other Loan Document
and the obligations of Borrower or any Subsidiary under any Swap Agreements owing to the Lenders or
their Affiliates.

     “Other Taxes” means any and all present or future stamp or documentary taxes or any
other excise or property taxes, charges or similar levies arising from any payment made hereunder
or from the execution, delivery or registration of, or otherwise with respect to, this Agreement.

     “Partnership Agreement” means the First Amended and Restated Agreement of Limited
Partnership of the Borrower, a form of which is attached as Appendix A to the Borrower’s Prospectus
dated August 15, 2005.

     “PBGC” means the Pension Benefit Guaranty Corporation referred to and defined in ERISA
and any successor entity performing similar functions.

     “Permitted Liens” means:

     (a) liens existing on the Effective Date which are approved by the Administrative Agent and
listed on Schedule 6.02 on property other than the Collateral;

     (b) any statutory or governmental lien or lien arising by operation of law, or any mechanics’,
repairmen’s, materialmen’s, suppliers’, carriers’, landlords’, warehousemen’s or similar lien
incurred in the ordinary course of business which is not yet due or which is being contested in
good faith by appropriate proceedings and any undetermined lien which is incidental to
construction, development, improvement or repair; or any right reserved to, or vested in, any
municipality or public authority by the terms of any right, power, franchise, grant, license,
permit or by any provision of law, to purchase or recapture or to designate a purchaser of, any
property;

     (c) liens for taxes and assessments which are (i) for the then current year, (ii) not at the
time delinquent, or (iii) delinquent but the validity or amount of which is being contested at the
time by the Borrower or any Subsidiary in good faith by appropriate proceedings;

     (d) liens of, or to secure performance of, leases, other than capital leases, or any lien
securing industrial development, pollution control or similar revenue bonds;

     (e) any lien upon property or assets acquired or sold by the Borrower or any Subsidiary
resulting from the exercise of any rights arising out of defaults on receivables;

     (f) any lien in favor of the Borrower or any Subsidiary;

     (g) any lien in favor of the United States of America or any state thereof, or any department,
agency or instrumentality or political subdivision of the United States of America or any state
thereof, to secure partial, progress, advance, or other payments pursuant to any contract or
statute, or any debt incurred by the Borrower or any Subsidiary for the purpose of financing all or
any part of the purchase price of, or the cost of constructing, developing, repairing or improving,
the property or assets subject to such lien;

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     (h) any lien incurred in the ordinary course of business in connection with workmen’s
compensation, unemployment insurance, temporary disability, social security, retiree health or
similar laws or regulations or to secure obligations imposed by statute or governmental
regulations;

     (i) liens in favor of any Person to secure obligations under provisions of any letters of
credit, bank guarantees, bonds or surety obligations required or requested by any governmental
authority in connection with any contract or statute; or any lien upon or deposits of any assets to
secure performance of bids, trade contracts, leases or statutory obligations;

     (j) any lien upon any property or assets created at the time of acquisition of such property
or assets by the Borrower or any Subsidiary or within one year after such time to secure all or a
portion of the purchase price for such property or assets or debt incurred to finance such purchase
price, whether such debt was incurred prior to, at the time of or within one year after the date of
such acquisition; or any lien upon any property or assets to secure all or part of the cost of
construction, development, repair or improvements thereon or to secure debt incurred prior to, at
the time of, or within one year after completion of such construction, development, repair or
improvements or the commencement of full operations thereof (whichever is later), to provide funds
for any such purpose;

     (k) any lien upon any property or assets existing thereon at the time of the acquisition
thereof by the Borrower or any Subsidiary and any lien upon any property or assets of a Person
existing thereon at the time such Person becomes a Subsidiary by acquisition, merger or otherwise;
provided that, in each case, such lien (i) does not encumber the Collateral, and (ii) with respect
to other property or assets, only encumbers the property or assets so acquired or owned by such
Person at the time such Person becomes a Subsidiary;

     (l) liens imposed by law or order as a result of any proceeding before any court or regulatory
body that is being contested in good faith, and liens which secure a judgment or other
court-ordered award or settlement as to which the Borrower or the applicable Subsidiary has not
exhausted its appellate rights;

     (m) any extension, renewal, refinancing, refunding or replacement (or successive extensions,
renewals, refinancing, refunding or replacements) of liens, in whole or in part, referred to in
clauses (a) through (l) above; provided, however, that any such extension, renewal, refinancing,
refunding or replacement lien shall be limited to the property or assets covered by the lien
extended, renewed, refinanced, refunded or replaced and that the obligations secured by any such
extension, renewal, refinancing, refunding or replacement lien shall be in an amount not greater
than the amount of the obligations secured by the lien extended, renewed, refinanced, refunded or
replaced and any expenses of the Borrower and its Subsidiaries (including any premium) incurred in
connection with such extension, renewal, refinancing, refunding or replacement; and

     (n) any lien resulting from the deposit of moneys or evidence of indebtedness in trust for the
purpose of defeasing debt of the Borrower or any Subsidiary.

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     “Person” means any natural person, corporation, limited liability company, trust,
joint venture, association, company, partnership, Governmental Authority or other entity.

     “Plan” means any employee pension benefit plan (other than a Multiemployer Plan)
subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA,
and in respect of which the Borrower or any ERISA Affiliate is (or, if such plan were terminated,
would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of
ERISA.

     “Prime Rate” means the rate of interest per annum publicly announced from time to time
by Citibank, N.A. as its base rate in effect at its principal office in New York, New York; each
change in the Prime Rate shall be effective from and including the date such change is publicly
announced as being effective.

     “Principal Property” means, whether owned or leased on the date hereof or thereafter
acquired, any processing or manufacturing plant or terminal owned or leased by the Borrower or any
Subsidiary that is located in the United States or any territory or political subdivision thereof,
excluding, however:

     (i) any such assets consisting of inventories, furniture, office fixtures and equipment
(including data processing equipment), vehicles and equipment used on, or useful with,
vehicles; and

     (ii) any such asset, plant or terminal which, in the opinion of the board of directors
of the Borrower, is not material in relation to the activities of the Borrower and its
Subsidiaries taken as a whole.

     “Quarterly Date” means the last day of each March, June, September and December, in
each year, the first of which shall be June 30, 2007; provided, however, that if any such day is
not a Business Day, such Quarterly Date shall be the next succeeding Business Day.

     “Reference Banks” means Citibank, N.A. and The Bank of Nova Scotia.

     “Register” has the meaning set forth in Section 9.04.

     “Related Parties” means, with respect to any specified Person, such Person’s
Affiliates and the respective directors, officers, employees, agents and advisors of such Person
and such Person’s Affiliates.

     “Required Lenders” means, at any time, Lenders having Loans, LC Exposure and unused
Commitments representing more than 50% of the sum of the total Loans, LC Exposure and unused
Commitments at such time.

     “Restricted Payment” means any dividend or other distribution (whether in cash,
securities or other property) with respect to any class of Equity Interests of the Borrower and any
Subsidiary, or any payment (whether in cash, securities or other property), including any sinking
fund or similar deposit, on account of the purchase, redemption, retirement, acquisition,
cancellation or termination of any Equity Interests of the Borrower or any Subsidiary or any

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option, warrant or other right to acquire any Equity Interests of the Borrower or any
Subsidiary (other than any such option, warrant or other right granted to an officer, director or
employee of the Borrower, any Subsidiary, EPE Holdings, Enterprise GP, TEPPCO or TEPPCO GP).

     “Revolving Credit Commitment” means, with respect to each Lender, the commitment of
such Lender to make Revolving Credit Loans and to acquire participations in Letters of Credit
hereunder, expressed as an amount representing the maximum aggregate amount of such Lender’s
Revolving Credit Exposure hereunder, as such commitment may be (a) reduced from time to time
pursuant to Section 2.09, and (b) reduced or increased from time to time pursuant to
assignments by or to such Lender pursuant to Section 9.04. The initial amount of each
Lender’s Revolving Credit Commitment is set forth on Schedule 2.01 under “Revolving Credit
Commitment,” or in the Assignment and Acceptance pursuant to which such Lender shall have assumed
its Revolving Credit Commitment, as applicable.

     “Revolving Credit Exposure” means, with respect to any Lender at any time, the sum of
the outstanding principal amount of such Lender’s Revolving Credit Loans and its LC Exposure at
such time.

     “Revolving Credit Loans” means Loans made pursuant to Section 2.01(a).

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

     “Security Instruments” means the agreements or instruments described or referred to in
Exhibit G, and any and all other agreements or instruments now or hereafter executed and
delivered by the Borrower or any other Person (other than participation or similar agreements
between any Lender and any other lender or creditor with respect to any Indebtedness pursuant to
this Agreement) pursuant to Section 5.04 to secure the payment or performance of any such
Indebtedness.

     “subsidiary” means, with respect to any Person (the “parent”) at any date, any
corporation, limited liability company, association or other entity (other than a partnership) of
which securities or other ownership interests representing more than 50% of the equity or more than
50% of the ordinary voting power or, in the case of a partnership, more than 50% of the partnership
interests, are, as of such date, owned, controlled or held by the parent and one or more
subsidiaries of the parent.

     “Subsidiary” means any subsidiary of the Borrower other than Enterprise, Enterprise
GP, ETE, ETE GP, ETP, TEPPCO, TEPPCO GP and their respective subsidiaries.

     “Swap Agreement” means any interest rate or currency swap, rate cap, rate floor, rate
collar, forward rate agreement or other exchange or rate protection agreement or any option with
respect to any of the foregoing.

     “Syndication Agent” means Lehman Commercial Paper Inc., in its capacity as syndication
agent for the Lenders hereunder.

     “Taxes” means any and all present or future taxes, levies, imposts, duties,
deductions, charges or withholdings imposed by any Governmental Authority.

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     “Term Commitment (Debt Bridge)” means, as to each Lender, the commitment of such
Lender to make a Term Loan (Debt Bridge) in the amount set forth opposite such Lender’s name under
“Term Commitment (Debt Bridge)” on Schedule 2.01, as the same may be modified from time to
time to reflect any assignment permitted by Section 9.04.

     “Term Commitment (Equity Bridge)” means, as to each Equity Bridge Lender, the
commitment of such Equity Bridge Lender to make a Term Loan (Equity Bridge) in the amount set forth
opposite such Equity Bridge Lender’s name under “Term Commitment (Equity Bridge)” on Schedule
2.01, as the same may be modified from time to time to reflect any assignment permitted by
Section 9.04.

     “Term Loans (Debt Bridge)” means the term loans made pursuant to Section
2.01(b).

     “Term Loans (Equity Bridge)” means the term loans made pursuant to Section
2.01(c).

     “TEPPCO” means TEPPCO Partners, L.P., a Delaware limited partnership.

     “TEPPCO Common Units” means the common units representing limited partner interests in
TEPPCO.

     “TEPPCO GP” means Texas Eastern Products Pipeline Company, LLC, a Delaware limited
liability company.

     “Termination Date” means the earlier to occur of (i) the Maturity Date or (ii) the
date that the Revolving Credit Commitments are terminated pursuant to Section 2.09 or
Article VII.

     “Transactions” means the execution, delivery and performance by the Borrower of this
Agreement and the Security Instruments, the borrowing of Loans and the use of the proceeds thereof
and the issuance of Letters of Credit hereunder, and the execution, delivery and performance by the
Borrower pursuant to each of the Security Instruments.

     “Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of
interest on such Loan, or on the Loans comprising such Borrowing, is determined by reference to the
LIBO Rate or the Alternate Base Rate.

     “Withdrawal Liability” means liability to a Multiemployer Plan as a result of a
complete or partial withdrawal from such Multiemployer Plan, as such terms are defined in Part I of
Subtitle E of Title IV of ERISA.

     Section 1.02 Classification of Loans and Borrowings. For purposes of this Agreement,
Loans may be classified and referred to by Class (e.g., a “Revolving Credit Loan”) or by Type
(e.g., a “Eurodollar Loan” or an “ABR Loan”) or by Class and Type (e.g., a “Eurodollar Revolving
Credit Loan”). Borrowings also may be classified and referred to by Class (e.g., a “Revolving
Credit Borrowing”) or by Type (e.g., a “Eurodollar Borrowing” or an “ABR Borrowing”) or by Class
and Type (e.g., a “Eurodollar Revolving Credit Borrowing”).

     Section 1.03 Terms Generally. The definitions of terms herein shall apply equally to
the singular and plural forms of the terms defined. Whenever the context may require, any

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pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”,
“includes” and “including” shall be deemed to be followed by the phrase “without limitation”. The
word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the
context requires otherwise (a) any definition of or reference to any agreement, instrument or other
document herein shall be construed as referring to such agreement, instrument or other document as
from time to time amended, supplemented or otherwise modified (subject to any restrictions on such
amendments, supplements or modifications set forth herein), (b) any reference herein to any Person
shall be construed to include such Person’s successors and assigns, (c) the words “herein”,
“hereof” and “hereunder”, and words of similar import, shall be construed to refer to this
Agreement in its entirety and not to any particular provision hereof, (d) all references herein to
Articles, Sections, Exhibits and Schedules shall be construed to refer to Articles and Sections of,
and Exhibits and Schedules to, this Agreement and (e) the words “asset” and “property” shall be
construed to have the same meaning and effect and to refer to any and all tangible and intangible
assets and properties, including cash, securities, accounts and contract rights.

     Section 1.04 Accounting Terms; GAAP. Except as otherwise expressly provided herein,
all terms of an accounting or financial nature shall be construed in accordance with (i) except for
purposes of Section 6.07, GAAP, as in effect from time to time; provided that, if the Borrower
notifies the Administrative Agent that the Borrower requests an amendment to any provision hereof
to eliminate the effect of any change occurring after the date hereof in GAAP or in the application
thereof on the operation of such provision (or if the Administrative Agent notifies the Borrower
that the Required Lenders request an amendment to any provision hereof for such purpose),
regardless of whether any such notice is given before or after such change in GAAP or in the
application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and
applied immediately before such change shall have become effective until such notice shall have
been withdrawn or such provision amended in accordance herewith; and (ii) for purposes of Section
6.07, GAAP as in effect on December 31, 2006.

     Section 1.05 Annualized Financial Information. Until the expiration of four fiscal
quarters following March 31, 2007, compliance with Section 6.07 shall be computed on an
annualized basis.

ARTICLE II

The Credits

     Section 2.01 Commitments.

     (a) Subject to the terms and conditions set forth herein, each Lender agrees to make Revolving
Credit Loans to the Borrower from time to time during the Availability Period
in an aggregate principal amount that will not result in such Lender’s Revolving Credit
Exposure exceeding such Lender’s Revolving Credit Commitment. All amounts outstanding under the
Revolving Credit Loans shall, at the option of the Borrower, be made and maintained as ABR
Borrowings or Eurodollar Borrowings, or a combination thereof, bearing interest in accordance with
Section 2.13(a) or (b), as applicable. Within the foregoing limits and subject to
the terms and conditions set forth herein, the Borrower may borrow, prepay and re-borrow Revolving
Credit Loans.

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     (b) Subject to the terms and conditions set forth herein, each Lender agrees to make a Term
Loan (Debt Bridge) to the Borrower not to exceed its Term Commitment (Debt Bridge). Such Term
Loans (Debt Bridge) shall be made by way of a single Borrowing funded pursuant to a Borrowing
Request made on or before the Effective Date. Any portion of each Lender’s Term Commitment (Debt
Bridge) not utilized by such Borrowing on such date shall be permanently canceled. All amounts
outstanding under the Term Loan (Debt Bridge) shall, at the option of the Borrower, be made and
maintained as ABR Borrowings or Eurodollar Borrowings, or a combination thereof, bearing interest
in accordance with Section 2.13(a) or (b), as applicable. Any amount repaid under
the Term Loan (Debt Bridge) may not be reborrowed.

     (c) Subject to the terms and conditions set forth herein, each Equity Bridge Lender agrees to
make a Term Loan (Equity Bridge) to the Borrower not to exceed its Term Commitment (Equity Bridge).
Such Term Loans (Equity Bridge) shall be made by way of a single Borrowing funded pursuant to a
Borrowing Request made on or before the Effective Date. Any portion of each Equity Bridge Lender’s
Term Commitment (Equity Bridge) not utilized by such Borrowing on such date shall be permanently
canceled. All amounts outstanding under the Term Loan (Equity Bridge) shall, at the option of the
Borrower, be made and maintained as ABR Borrowings or Eurodollar Borrowings, or a combination
thereof, bearing interest in accordance with Section 2.13(a) or (b), as applicable.
Any amount repaid under the Term Loan (Equity Bridge) may not be reborrowed.

     Section 2.02 Loans and Borrowings.

     (a) Each Loan of any Class shall be made as part of a Borrowing consisting of Loans of such
Class made by the Lenders ratably in accordance with their respective Commitments of such Class.
The failure of any Lender to make any Loan required to be made by it shall not relieve any other
Lender of its obligations hereunder; provided that the Commitments of the Lenders are several and
no Lender shall be responsible for any other Lender’s failure to make Loans as required.

     (b) Subject to Section 2.14, each Borrowing shall be comprised entirely of ABR Loans
or Eurodollar Loans as the Borrower may request in accordance herewith. Each Lender at its option
may make any Eurodollar Loan by causing any domestic or foreign branch or Affiliate of such Lender
to make such Loan; provided that any exercise of such option shall not affect the obligation of the
Borrower to repay such Loan in accordance with the terms of this Agreement.

     (c) At the commencement of each Interest Period for any Eurodollar Borrowing, such Borrowing
shall be in an aggregate amount that is an integral multiple of $1,000,000 and not less than
$5,000,000. At the time that each ABR Borrowing is made, such Borrowing shall be in an aggregate
amount that is an integral multiple of $500,000 and not less than $1,000,000; provided that an ABR
Borrowing may be in an aggregate amount that is equal to the entire unused balance of the total
Revolving Credit Commitments, or that is required to finance the reimbursement of an LC
Disbursement as contemplated by Section 2.06(e). Borrowings of more than one Type and
Class may be outstanding at the same time; provided that there shall not at any time be more than a
total of ten Eurodollar Borrowings outstanding.

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     (d) Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled
to request or elect to continue any Eurodollar Borrowing, or elect to convert any ABR Borrowing to
a Eurodollar Borrowing if the Interest Period requested with respect thereto would end after the
Maturity Date.

     Section 2.03 Requests for Borrowing. To request a Borrowing, the Borrower shall
notify the Administrative Agent of such request by telephone (a) in the case of a Eurodollar
Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of
the proposed Borrowing or (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York
City time, on the date of the proposed Borrowing. Each such telephonic Borrowing Request shall be
irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative
Agent of a written Borrowing Request signed by the Borrower. Each such Borrowing Request shall
specify the following information in compliance with Section 2.02:

     (i) the aggregate amount of the requested Borrowing;

     (ii) the date of such Borrowing, which shall be a Business Day;

     (iii) the Class of such Borrowing and whether such Borrowing is to be an ABR Borrowing
or a Eurodollar Borrowing;

     (iv) in the case of a Eurodollar Borrowing, the initial Interest Period to be
applicable thereto, which shall be a period contemplated by the definition of the term
“Interest Period”; and

     (v) the location and number of the Borrower’s account to which funds are to be
disbursed, which shall comply with the requirements of Section 2.07.

If no election as to the Type of Borrowing is specified, then the requested Borrowing shall be an
ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar
Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s
duration. Promptly following receipt of a Borrowing Request in accordance with this Section, the
Administrative Agent shall advise each Lender of the details thereof and of the amount of such
Lender’s Loan to be made as part of the requested Borrowing.

     Section 2.04 Reserved.

     Section 2.05 Existing Credit Agreement. In connection with the amendment and
restatement of the Existing Credit Agreement pursuant hereto, Borrower, Administrative Agent and
Lenders shall as of the Effective Date make adjustments to the outstanding principal amount of the
“Loans” under the Existing Credit Agreement (as such term is defined therein) (but not any interest
accrued thereon prior to the Effective Date or any accrued commitment fees under the Existing
Credit Agreement prior to the Effective Date), including the borrowing of additional Revolving
Credit Loans hereunder and the repayment of “Loans” under the Existing Credit Agreement (as such
term is defined therein) plus all applicable accrued interest, fees and expenses as shall be
necessary to provide for Revolving Credit Loans by each Lender in proportion to, and in any event
not in excess of, the amount of its Revolving Credit Commitment as of the Effective Date, but in no
event shall such adjustment of any Eurodollar Loans entitle

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any Lender to any reimbursement under
Section 2.16 hereof; provided that the foregoing is not intended to relieve Borrower for
paying any such costs to lenders under the Existing Credit Agreement to the extent such lenders are
not Lenders under this Agreement, and each Lender shall be deemed to have made an assignment of its
outstanding Loans and commitments under the Existing Credit Agreement, and assumed outstanding
Loans and commitments under the Existing Credit Agreement, and assumed outstanding Loans and
commitments of other Lenders under the Existing Credit Agreement as may be necessary to effect the
foregoing. In addition, (i) each Letter of Credit outstanding under the Existing Credit Agreement
shall be deemed to have been issued under this Agreement without further consideration or any fees
under the Existing Credit Agreement; (ii) Borrower acknowledges and affirms the security interests
and Liens granted by it under each of the Security Instruments; (iii) the Existing Credit Agreement
and the Commitments thereunder shall terminate and be superseded by this Agreement, and (iv) the
Obligations of the Borrower hereunder are in renewal and extension of the obligations and
indebtedness of the Borrower under the Existing Credit Agreement.

     Section 2.06 Letters of Credit.

     (a) General. Subject to the terms and conditions set forth herein, the Borrower may
request the issuance of Letters of Credit under the Revolving Credit Commitments for its own
account or for the account of any Subsidiary, in a form reasonably acceptable to the Administrative
Agent and the Issuing Bank, at any time and from time to time during the Availability Period. In
the event of any inconsistency between the terms and conditions of this Agreement and the terms and
conditions of any form of letter of credit application or other agreement submitted by the Borrower
to, or entered into by the Borrower with, the Issuing Bank relating to any Letter of Credit, the
terms and conditions of this Agreement shall control.

     (b) Notice of Issuance, Amendment, Renewal, Extension; Certain Conditions. To request
the issuance of a Letter of Credit (or the amendment, renewal or extension of an outstanding Letter
of Credit), the Borrower shall hand deliver or telecopy (or transmit by electronic communication,
if arrangements for doing so have been approved by the Issuing
Bank) to the Issuing Bank and the Administrative Agent three Business Days (or such shorter
period as may be acceptable to the Issuing Bank in advance of the requested date of issuance,
amendment, renewal or extension), a notice requesting the issuance of a Letter of Credit, or
identifying the Letter of Credit to be amended, renewed or extended, and specifying the date of
issuance, amendment, renewal or extension (which shall be a Business Day), the date on which such
Letter of Credit is to expire (which shall comply with paragraph (c) of this Section), the amount
of such Letter of Credit, the name and address of the beneficiary thereof and such other
information as shall be necessary to prepare, amend, renew or extend such Letter of Credit, as
applicable. If requested by the Issuing Bank, the Borrower also shall submit a letter of credit
application on the Issuing Bank’s standard form in connection with any request for a Letter of
Credit. A Letter of Credit shall be issued, amended, renewed or extended if and only if (and upon
issuance, amendment, renewal or extension of each Letter of Credit the Borrower shall be deemed to
represent and warrant that), after giving effect to such issuance, amendment, renewal or extension
(i) the LC Exposure shall not exceed $25,000,000 and (ii) the total Revolving Credit Exposures
shall not exceed the total Revolving Credit Commitments.

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     (c) Expiration Date. Each Letter of Credit shall expire at or prior to the close of
business on the earlier of (i) the date one year after the date of the issuance of such Letter of
Credit (or, in the case of any renewal or extension thereof, one year after such renewal or
extension) and (ii) the date that is five Business Days prior to the Maturity Date.

     (d) Participations. By the issuance of a Letter of Credit (or an amendment to a
Letter of Credit increasing the amount thereof) and without any further action on the part of the
Issuing Bank or the Lenders, the Issuing Bank hereby grants to each Lender, and each Lender hereby
acquires from the Issuing Bank, a participation in such Letter of Credit equal to such Lender’s
Applicable Percentage of the aggregate amount available to be drawn under such Letter of Credit.
In consideration and in furtherance of the foregoing, each Lender hereby absolutely and
unconditionally agrees to pay to the Administrative Agent, for the account of the Issuing Bank,
such Lender’s Applicable Percentage of each LC Disbursement made by the Issuing Bank and not
reimbursed by the Borrower on the date due as provided in paragraph (e) of this Section, or of any
reimbursement payment required to be refunded to the Borrower for any reason. Each Lender
acknowledges and agrees that its obligation to acquire participations pursuant to this paragraph in
respect of Letters of Credit is absolute and unconditional and shall not be affected by any
circumstance whatsoever, including any amendment, renewal or extension of any Letter of Credit or
the occurrence and continuance of a Default or reduction or termination of the Commitments, and
that each such payment shall be made without any offset, abatement, withholding or reduction
whatsoever.

     (e) Reimbursement. If the Issuing Bank shall make any LC Disbursement in respect of a
Letter of Credit, the Borrower shall reimburse such LC Disbursement by paying to the Administrative
Agent an amount equal to such LC Disbursement not later than 12:00 noon, New York City time, on the
date that such LC Disbursement is made, if the Borrower shall have received notice of such LC
Disbursement prior to 10:00 a.m., New York City time, on such date, or, if such notice has not been
received by the Borrower prior to such time on such date, then not later than 12:00 noon, New York
City time, on the Business Day immediately following the day that the Borrower receives such
notice; provided that the Borrower may, subject to the conditions to borrowing set forth herein,
request in accordance with Section 2.03 that such payment be
financed with an ABR Borrowing in an equivalent amount and, to the extent so financed, the
Borrower’s obligation to make such payment shall be discharged and replaced by the resulting ABR
Borrowing. If the Borrower fails to make such payment when due, the Administrative Agent shall
notify each Lender of the applicable LC Disbursement, the payment then due from the Borrower in
respect thereof and such Lender’s Applicable Percentage thereof. Promptly following receipt of
such notice, each Lender shall pay to the Administrative Agent its Applicable Percentage of the
payment then due from the Borrower, in the same manner as provided in Section 2.07 with
respect to Loans made by such Lender (and Section 2.07 shall apply, mutatis mutandis, to
the payment obligations of the Lenders), and the Administrative Agent shall promptly pay to the
Issuing Bank the amounts so received by it from the Lenders. Promptly following receipt by the
Administrative Agent of any payment from the Borrower pursuant to this paragraph, the
Administrative Agent shall distribute such payment to the Issuing Bank or, to the extent that
Lenders have made payments pursuant to this paragraph to reimburse the Issuing Bank, then to such
Lenders and the Issuing Bank as their interests may appear. Any payment made by a Lender pursuant
to this paragraph to reimburse the Issuing Bank for any LC

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Disbursement (other than the funding of
ABR Loans as contemplated above) shall not constitute a Loan and shall not relieve the Borrower of
its obligation to reimburse such LC Disbursement.

     (f) Obligations Absolute. The Borrower’s obligation to reimburse LC Disbursements as
provided in paragraph (e) of this Section shall be absolute, unconditional and irrevocable, and
shall be performed strictly in accordance with the terms of this Agreement under any and all
circumstances whatsoever and irrespective of (i) any lack of validity or enforceability of any
Letter of Credit or this Agreement, or any term or provision therein or herein, (ii) any draft or
other document presented under a Letter of Credit proving to be forged, fraudulent or invalid in
any respect or any statement therein being untrue or inaccurate in any respect, (iii) payment by
the Issuing Bank under a Letter of Credit against presentation of a draft or other document that
does not comply with the terms of such Letter of Credit, or (iv) any other event or circumstance
whatsoever, whether or not similar to any of the foregoing, that might, but for the provisions of
this Section, constitute a legal or equitable discharge of, or provide a right of setoff against,
the Borrower’s obligations hereunder. Neither the Administrative Agent, the Lenders nor the
Issuing Bank, nor any of their Related Parties, shall have any liability or responsibility by
reason of or in connection with the issuance or transfer of any Letter of Credit or any payment or
failure to make any payment thereunder (irrespective of any of the circumstances referred to in the
preceding sentence), or any error, omission, interruption, loss or delay in transmission or
delivery of any draft, notice or other communication under or relating to any Letter of Credit
(including any document required to make a drawing thereunder), any error in interpretation of
technical terms or any consequence arising from causes beyond the control of the Issuing Bank;
provided that the foregoing shall not be construed to excuse the Issuing Bank from liability to the
Borrower to the extent of any direct damages (as opposed to consequential damages, claims in
respect of which are hereby waived by the Borrower to the extent permitted by applicable law)
suffered by the Borrower that are caused by the Issuing Bank’s failure to exercise care when
determining whether drafts and other documents presented under a Letter of Credit comply with the
terms thereof. The parties hereto expressly agree that, in the absence of gross negligence or
willful misconduct on the part of the Issuing Bank (as finally determined by a court of competent
jurisdiction), the Issuing Bank shall be deemed to have exercised care in each such determination.
In furtherance of the foregoing and without limiting the generality thereof, the parties agree
that, with respect to documents presented which appear on their face to be in
substantial compliance with the terms of a Letter of Credit, the Issuing Bank may, in its sole
discretion, either accept and make payment upon such documents without responsibility for further
investigation, regardless of any notice or information to the contrary, or refuse to accept and
make payment upon such documents if such documents are not in strict compliance with the terms of
such Letter of Credit.

     (g) Disbursement Procedures. The Issuing Bank shall, promptly following its receipt
thereof, examine all documents purporting to represent a demand for payment under a Letter of
Credit. The Issuing Bank shall promptly notify the Administrative Agent and the Borrower by
telephone (confirmed by telecopy) of such demand for payment and whether the Issuing Bank has made
or will make an LC Disbursement thereunder; provided that any failure to give or delay in giving
such notice shall not relieve the Borrower of its obligation to reimburse the Issuing Bank and the
Lenders with respect to any such LC Disbursement.

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     (h) Interim Interest. If the Issuing Bank shall make any LC Disbursement, then,
unless the Borrower shall reimburse such LC Disbursement in full on the date such LC Disbursement
is made, the unpaid amount thereof shall bear interest, for each day from and including the date
such LC Disbursement is made to but excluding the date that the Borrower reimburses such LC
Disbursement, at the rate per annum then applicable to ABR Loans; provided that, if the Borrower
fails to reimburse such LC Disbursement when due pursuant to paragraph (e) of this Section, then
Section 2.13(c) shall apply. Interest accrued pursuant to this paragraph shall be for the
account of the Issuing Bank, except that interest accrued on and after the date of payment by any
Lender pursuant to paragraph (e) of this Section to reimburse the Issuing Bank shall be for the
account of such Lender to the extent of such payment.

     (i) Replacement of the Issuing Bank. The Issuing Bank may be replaced at any time by
written agreement among the Borrower, the Administrative Agent, the replaced Issuing Bank and the
successor Issuing Bank. The Administrative Agent shall notify the Lenders of any such replacement
of the Issuing Bank. At the time any such replacement shall become effective, the Borrower shall
pay all unpaid fees accrued for the account of the replaced Issuing Bank pursuant to Section
2.12(b). From and after the effective date of any such replacement, (i) the successor Issuing
Bank shall have all the rights and obligations of the Issuing Bank under this Agreement with
respect to Letters of Credit to be issued thereafter and (ii) references herein to the term
“Issuing Bank” shall be deemed to refer to such successor or to any previous Issuing Bank, or to
such successor and all previous Issuing Banks, as the context shall require. After the replacement
of an Issuing Bank hereunder, the replaced Issuing Bank shall remain a party hereto and shall
continue to have all the rights and obligations of an Issuing Bank under this Agreement with
respect to Letters of Credit issued by it prior to such replacement, but shall not be required to
issue additional Letters of Credit.

     (j) Cash Collateralization. If any Event of Default shall occur and be continuing and
if the maturity of the Loans has been accelerated pursuant to Article VII, on the Business
Day that the Borrower receives notice from the Administrative Agent upon written request of the
Required Lenders demanding the deposit of cash collateral pursuant to this paragraph, the Borrower
shall deposit in an account with the Administrative Agent, in the name of the Administrative Agent
and for the benefit of the Lenders, an amount in cash equal to the LC Exposure as of such date plus
any accrued and unpaid interest thereon; provided that the
obligation to deposit such cash collateral shall become effective immediately, and such
deposit shall become immediately due and payable, without demand or other notice of any kind, upon
the occurrence of any Event of Default with respect to the Borrower described in clause (h) or (i)
of Article VII. Such deposit shall be held by the Administrative Agent as collateral for
the payment and performance of the obligations of the Borrower under this Agreement. The
Administrative Agent shall have exclusive dominion and control, including the exclusive right of
withdrawal, over such account. Other than any interest earned on the investment of such deposits,
which investments shall be made at the option and sole discretion of the Administrative Agent and
at the Borrower’s risk and expense, such deposits shall not bear interest. Interest or profits, if
any, on such investments shall accumulate in such account. Moneys in such account shall be applied
by the Administrative Agent to reimburse the Issuing Bank for LC Disbursements for which it has not
been reimbursed and, to the extent not so applied, shall be held for the satisfaction of the
reimbursement obligations of the Borrower for the LC Exposure at such time or, if the maturity of
the Loans has been accelerated (but subject to the consent of

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Lenders with LC Exposure
representing greater than 51% of the total LC Exposure), be applied to satisfy other obligations of
the Borrower under this Agreement. If the Borrower is required to provide an amount of cash
collateral hereunder as a result of the occurrence of an Event of Default, such amount (to the
extent not applied as aforesaid) shall be returned to the Borrower within three Business Days after
all Events of Default have been cured or waived.

     Section 2.07 Funding of Borrowings.

     (a) Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof
by wire transfer of immediately available funds by 1:00 p.m., New York City time, to the account of
the Administrative Agent most recently designated by it for such purpose by notice to the Lenders.
The Administrative Agent will make such Loans available to the Borrower by promptly crediting the
amounts so received, in like funds, to an account designated by the Borrower in the applicable
Borrowing Request; provided that ABR Loans made to finance the reimbursement of an LC Disbursement
as provided in Section 2.06(e) shall be remitted by the Administrative Agent to the Issuing
Bank.

     (b) Unless the Administrative Agent shall have received notice from a Lender on or prior to
the proposed date of any Borrowing that such Lender will not make available to the Administrative
Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that such Lender
has made such share available on such date in accordance with paragraph (a) of this Section and
may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In
such event, if a Lender has not in fact made its share of the applicable Borrowing available to the
Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the
Administrative Agent forthwith on demand such corresponding amount with interest thereon, for each
day from and including the date such amount is made available to the Borrower to but excluding the
date of payment to the Administrative Agent, at (i) in the case of such Lender, the greater of the
Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with
banking industry rules on interbank compensation or (ii) in the case of the Borrower, the interest
rate applicable to
such Borrowing. If such Lender pays such amount to the Administrative Agent, then such amount
shall constitute such Lender’s Loan included in such Borrowing.

     Section 2.08 Interest Elections.

     (a) Each Borrowing initially shall be of the Type specified in the applicable Borrowing
Request and, in the case of a Eurodollar Borrowing, shall have an initial Interest Period as
specified in such Borrowing Request or, if no Interest Period is so specified, of one month’s
duration. Thereafter, the Borrower may elect to convert such Borrowing to a different Type or to
continue such Borrowing and, in the case of a Eurodollar Borrowing, may elect Interest Periods
therefor, all as provided in this Section. The Borrower may elect different options with respect
to different portions of the affected Borrowing, in which case each such portion shall be allocated
ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising
each such portion shall be considered a separate Borrowing.

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     (b) To make an election pursuant to this Section, the Borrower shall notify the Administrative
Agent of such election by telephone by (i) 11:00 a.m., New York City time, three Business Days
before the date of the proposed election, or (ii) in the case of a conversion to an ABR Borrowing,
not later than 11:00 a.m., New York City time, on the date of the proposed conversion. Each such
telephonic Interest Election Request shall be irrevocable and shall be confirmed promptly by hand
delivery or telecopy to the Administrative Agent of a written Interest Election Request signed by
the Borrower.

     (c) Each telephonic and written Interest Election Request shall specify the following
information in compliance with Section 2.02:

     (i) the Borrowing to which such Interest Election Request applies and, if different
options are being elected with respect to different portions thereof, the portions thereof
to be allocated to each resulting Borrowing (in which case the information to be specified
pursuant to clauses (iii) and (iv) below shall be specified for each resulting Borrowing);

     (ii) the effective date of the election made pursuant to such Interest Election
Request, which shall be a Business Day;

     (iii) whether the resulting Borrowing is to be an ABR Borrowing or a Eurodollar
Borrowing; and

     (iv) if the resulting Borrowing is a Eurodollar Borrowing, the Interest Period to be
applicable thereto after giving effect to such election, which shall be a period
contemplated by the definition of the term “Interest Period.”

If any such Interest Election Request requests a Eurodollar Borrowing but does not specify an
Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one
month’s duration.

     (d) Promptly following receipt of an Interest Election Request, the Administrative Agent shall
advise each Lender of the details thereof and of such Lender’s portion of each resulting Borrowing.

     (e) If the Borrower fails to deliver a timely Interest Election Request with respect to a
Eurodollar Borrowing prior to the end of the Interest Period applicable thereto, then, unless such
Borrowing is repaid as provided herein, at the end of such Interest Period such Borrowing shall be
converted to an ABR Borrowing. Notwithstanding any contrary provision hereof, if an Event of
Default has occurred and is continuing and the Administrative Agent, at the request of the Required
Lenders, so notifies the Borrower, then, so long as an Event of Default is continuing (i) no
outstanding Borrowing may be converted to or continued as a Eurodollar Borrowing and (ii) unless
repaid, each Eurodollar Borrowing shall be converted to an ABR Borrowing at the end of the Interest
Period applicable thereto.

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     Section 2.09 Termination and Reduction of Commitments.

     (a) Unless previously terminated, the Revolving Credit Commitments shall terminate on the
Maturity Date.

     (b) The Borrower may at any time terminate, or from time to time reduce, the Revolving Credit
Commitments; provided that (i) each reduction of the Revolving Credit Commitments shall be in an
amount that is an integral multiple of $1,000,000 and not less than $5,000,000 and (ii) the
Borrower shall not terminate or reduce the Revolving Credit Commitments if, after giving effect to
any concurrent prepayment of the Revolving Credit Loans in accordance with Section 2.11,
the total Revolving Credit Exposures would exceed the total Revolving Credit Commitments.

     (c) The Borrower shall notify the Administrative Agent of any election to terminate or reduce
the Revolving Credit Commitments under paragraph (b) of this Section at least three Business Days
prior to the effective date of such termination or reduction, specifying such election and the
effective date thereof. Promptly following receipt of any notice, the Administrative Agent shall
advise the Lenders of the contents thereof. Each notice delivered by the Borrower pursuant to this
Section shall be irrevocable; provided that a notice of termination of the Revolving Credit
Commitments delivered by the Borrower may state that such notice is conditioned upon the
effectiveness of other credit facilities, in which case such notice may be revoked by the Borrower
(by notice to the Administrative Agent on or prior to the specified effective date) if such
condition is not satisfied. Each reduction of the Revolving Credit Commitments shall be made
ratably among the Lenders in accordance with their respective Revolving Credit Commitments.

     (d) The Term Commitments (Debt Bridge) shall permanently terminate upon the funding of the
initial Term Borrowing (Debt Bridge) or if the Borrowing Request for such initial Term Borrowing
(Debt Bridge) has not been made by the close of business on May 31, 2007, upon such close of
business. The Term Commitments (Equity Bridge) shall permanently terminate upon the funding of the
initial Term Borrowing (Equity Bridge) or if the Borrowing
Request for such initial Term Borrowing (Equity Bridge) has not been made by the close of
business on May 31, 2007, upon such close of business.

     (e) Any termination of the Commitments pursuant to this Section 2.09 or ARTICLE
VII shall be permanent.

     Section 2.10 Repayment of Loans; Evidence of Debt.

     (a) The Borrower hereby unconditionally promises to pay to the Administrative Agent, for the
ratable account of the holders of each of the Loans, the then unpaid principal amount of the Loans
(and all accrued and unpaid interest thereon and any other amounts outstanding hereunder) on the
Maturity Date.

     (b) Each Lender shall maintain in accordance with its usual practice an account or accounts
evidencing the indebtedness of the Borrower to such Lender resulting from each Loan made by such
Lender, including the amounts of principal and interest payable and paid to such Lender from time
to time hereunder.

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     (c) The Administrative Agent shall maintain accounts in which it shall record (i) the amount
of each Loan made hereunder, the Class and Type thereof and the Interest Period applicable thereto,
(ii) the amount of any principal or interest due and payable or to become due and payable from the
Borrower to each Lender hereunder and (iii) the amount of any sum received by the Administrative
Agent hereunder for the account of the Lenders and each Lender’s share thereof.

     (d) The entries made in the accounts maintained pursuant to paragraph (b) or (c) of this
Section shall be prima facie evidence of the existence and amounts of the obligations recorded
therein; provided that the failure of any Lender or the Administrative Agent to maintain such
accounts or any error therein shall not in any manner affect the obligation of the Borrower to
repay the Loans in accordance with the terms of this Agreement.

     (e) Any Lender may request that Loans made by it be evidenced by a promissory note. In such
event, the Borrower shall prepare, execute and deliver to such Lender promissory notes in the
amount of such Lender’s Revolving Credit Commitment, Term Commitment (Debt Bridge) or Term
Commitment (Equity Bridge), as applicable, payable to the order of such Lender (or, if requested by
such Lender, to such Lender and its registered assigns) and in substantially the form of
Exhibit F-1, Exhibit F-2 or Exhibit F-3, as appropriate. Thereafter, the
Loans evidenced by such promissory notes and interest thereon shall at all times (including after
assignment pursuant to Section 9.04) be represented by one or more promissory notes in such
form payable to the order of the payee named therein (or, if such promissory note is a registered
note, to such payee and its registered assigns).

     Section 2.11 Prepayment of Loans.

     (a) The Borrower shall have the right at any time and from time to time to prepay any
Borrowing in whole or in part, subject to prior notice and other limitations set forth in this
Section.

     (b) Each prepayment pursuant to Section 2.11(a) shall be applied to reduce pro rata
all Loans comprising the designated Borrowing being prepaid. The Borrower shall notify the
Administrative Agent by telephone (confirmed by telecopy) of any prepayment hereunder (i) in the
case of prepayment of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three
Business Days before the date of prepayment, or (ii) in the case of prepayment of an ABR Borrowing,
not later than 11:00 a.m., New York City time, on the date of prepayment. Each such notice shall
be irrevocable and shall specify the prepayment date and the principal amount of each Borrowing or
portion thereof to be prepaid; provided that, if a notice of prepayment is given in connection with
a conditional notice of termination of the Revolving Credit Commitments as contemplated by
Section 2.09, then such notice of prepayment may be revoked if such notice of termination
is revoked in accordance with Section 2.09. Promptly following receipt of any such notice
relating to a Borrowing, the Administrative Agent shall advise the Lenders of the contents thereof.
Each partial prepayment of any Borrowing pursuant to Section 2.11(a) shall be in an amount
that is an integral multiple of $1,000,000 and not less than $1,000,000 in the case of an ABR
Borrowing and not less than $3,000,000 in the case of a Eurodollar Borrowing. Prepayments shall be
accompanied by accrued interest to the extent required by Section 2.13.

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     (c) If at any time the total Revolving Credit Exposures would exceed the total Revolving
Credit Commitments, except as a result of termination of Revolving Credit Commitments pursuant to
Article VII, the Borrower shall prepay the Revolving Credit Loans in an amount equal to
such excess.

     (d) Upon the receipt by the Borrower or any Subsidiary of the net cash proceeds from (i) any
issuance of Indebtedness and/or equity by the Borrower and/or any such Subsidiary (other than
Indebtedness permitted pursuant to Section 6.01 (a), (b), (c) or
(d)) or (ii) any asset sale by the Borrower (other than sales of assets having an aggregate
fair market value (for all asset sales by the Borrower during the term of this Agreement) not
exceeding $25,000,000), the Borrower shall prepay the outstanding amount of the Loans in the full
amount of such net cash proceeds (or in the case of any such issuance by a Subsidiary that is not
wholly-owned by the Borrower, a percentage of such net cash proceeds equal to the Borrower’s direct
and indirect percentage ownership in such Subsidiary). Each prepayment required to be made
pursuant to this Section 2.11(d) shall be applied, (x) if such prepayment is required as a
result of the issuance of Indebtedness, first, to reduce pro rata all Term Loans (Debt
Bridge), second, to reduce pro rata all Term Loans (Equity Bridge) and third, to
reduce pro rata all Revolving Credit Loans; (y) if such prepayment is required as a result of the
issuance of equity, first, to reduce pro rata all Term Loans (Equity Bridge),
second, to reduce pro rata all Term Loans (Debt Bridge) and third, to reduce pro
rata all Revolving Credit Loans; and (z) if such prepayment is required as a result of an asset
sale, first to reduce pro rata all Term Loans (Debt Bridge) and all Term Loans (Equity
Bridge), and second, to reduce pro rata all Revolving Credit Loans.

     (e) All prepayments shall be payable without premium or penalty, except for compensation
required by Section 2.16 and/or any other provision of this Agreement.

     Section 2.12 Fees.

     (a) The Borrower shall pay to the Administrative Agent for the account of the Lenders a
commitment fee on the daily average unused amount of the total Revolving Credit Commitments for the
period from and including the Effective Date up to, but excluding, the Termination Date at the
Applicable Rate for commitment fees. Accrued commitment fees shall be payable quarterly in arrears
on each Quarterly Date and on the earlier of the date the total Revolving Credit Commitments are
terminated or the Termination Date. All commitment fees shall be computed on the basis of a year
of 365 days (or 366 days in leap year) and shall be payable for the actual number of days elapsed
(including the first day but excluding the last day).

     (b) The Borrower agrees to pay (i) to the Administrative Agent for the account of each Lender
a participation fee with respect to its participations in Letters of Credit, which shall accrue at
the same Applicable Rate as interest on Eurodollar Loans on the average daily amount of such
Lender’s LC Exposure (excluding any portion thereof attributable to unreimbursed LC Disbursements)
during the period from and including the Effective Date to but excluding the date on which such
Lender ceases to have any LC Exposure, and (ii) to the Issuing Bank a fronting fee, which shall
accrue at the rate of 1/8% per annum, on the average daily amount of the LC Exposure (excluding any
portion thereof attributable to unreimbursed LC Disbursements) during the period from and including
the Effective Date to but excluding the date on which there ceases to be any LC Exposure, as well
as the Issuing Bank’s standard fees with respect to the issuance,

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amendment, renewal or extension
of any Letter of Credit or processing of drawings thereunder. Participation fees and fronting fees
accrued through and including the last day of March, June, September and December of each year
shall be payable quarterly on the third Business Day following the last day of March, June,
September and December of each year, commencing on the first such date to occur after the Effective
Date; provided that all such fees shall be payable on the date on which the Revolving
Credit Commitments terminate and any such fees accruing after the date on which the Revolving
Credit Commitments terminate shall be payable on demand. Any other fees payable to the Issuing
Bank pursuant to this paragraph shall be payable within 10 days after demand. All participation
fees and fronting fees shall be computed on the basis of a year of 365 days (or 366 days in leap
year) and shall be payable for the actual number of days elapsed (including the first day but
excluding the last day).

     (c) The Borrower agrees to pay to the Administrative Agent, for its own account, fees payable
in the amounts and at the times separately agreed upon between the Borrower and the Administrative
Agent.

     (d) All fees payable hereunder shall be paid on the dates due, in immediately available funds,
to the Administrative Agent (or to the Issuing Bank, in the case of fees payable to it) for
distribution, in the case of commitment fees, to the Lenders. Fees paid shall not be refundable
under any circumstances.

     Section 2.13 Interest.

     (a) The Loans comprising each ABR Borrowing shall bear interest at the Alternate Base Rate
plus the Applicable Rate for ABR Loans.

     (b) The Loans comprising each Eurodollar Borrowing shall bear interest at the LIBO Rate for
the Interest Period in effect for such Borrowing plus the Applicable Rate for Eurodollar Loans.

     (c) Notwithstanding the foregoing, if any principal of or interest on any Loan or any fee or
other amount payable by the Borrower hereunder is not paid when due, whether at stated maturity,
upon acceleration or otherwise, such overdue amount shall bear interest, after as well as before
judgment, at a rate per annum equal to (i) in the case of overdue principal of any Loan, 2% plus
the rate otherwise applicable to such Loan as provided in the preceding paragraphs of this Section
or (ii) in the case of any other amount, 2% plus the rate applicable to ABR Loans as provided in
paragraph (a) of this Section.

     (d) Accrued interest on each Loan shall be payable in arrears on each Interest Payment Date
for such Loan and, in the case of Revolving Credit Loans, upon termination of the Revolving Credit
Commitments; provided that (i) interest accrued pursuant to paragraph (c) of this Section shall be
payable on demand, (ii) in the event of any repayment or prepayment of any Loan (other than a
prepayment of an ABR Loan prior to the end of the Availability Period), accrued interest on the
principal amount repaid or prepaid shall be payable on the date of such repayment or prepayment and
(iii) in the event of any conversion of any Eurodollar Loan prior to the end of the current
Interest Period therefor, accrued interest on such Loan shall be payable on the effective date of
such conversion.

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     (e) All interest determined by reference to the LIBO Rate or clause (b) of the definition of
Alternate Base Rate shall be computed on the basis of a year of 360 days, and all other interest
shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case
shall be payable for the actual number of days elapsed (including the first day but excluding the
last day). The applicable Alternate Base Rate or LIBO Rate shall be determined by the
Administrative Agent, and such determination shall be conclusive absent manifest error.

     (f) The Borrower shall pay to each Lender, so long as such Lender shall be required under
regulations of the Board to maintain reserves with respect to liabilities or assets consisting of
or including Eurocurrency Liabilities, additional interest on the unpaid principal amount of each
Borrowing of such Lender during such periods as such Borrowing is a Eurodollar Borrowing, from the
date of such Borrowing until such principal amount is paid in full, at an interest rate per annum
equal at all times to the remainder obtained by subtracting (i) the LIBO Rate for the Interest
Period in effect for such Eurodollar Borrowing from (ii) the rate obtained by dividing such LIBO
Rate by a percentage equal to 100% minus the Eurodollar Rate Reserve Percentage of such Lender for
such Interest Period. Such additional interest shall be determined by such Lender. The Borrower
shall from time to time, within 15 days after demand (which demand shall be accompanied by a
certificate comporting with the requirements set forth in Section 2.15(d)) by such Lender
(with a copy of such demand and certificate to the Administrative Agent) pay to the Lender giving
such notice such additional interest; provided, however, that the Borrower shall not be required to
pay to such Lender any portion of such
additional interest that accrued more than 90 days prior to any such demand, unless such
additional interest was not determinable on the date that is 90 days prior to such demand.

     Section 2.14 Alternate Rate of Interest. If prior to the commencement of any Interest
Period for a Eurodollar Borrowing:

     (a) the Administrative Agent determines (which determination shall be conclusive absent
manifest error) that adequate and reasonable means do not exist for ascertaining the LIBO Rate, as
applicable, for such Interest Period; or

     (b) the Administrative Agent is advised by the Required Lenders that the LIBO Rate, as
applicable, for such Interest Period will not adequately and fairly reflect the cost to such
Lenders (or Lender) of making or maintaining their Loans (or its Loan) included in such Borrowing
for such Interest Period;

then the Administrative Agent shall give notice thereof to the Borrower and the Lenders by
telephone or telecopy as promptly as practicable thereafter and, until the Administrative Agent
notifies the Borrower and the Lenders that the circumstances giving rise to such notice no longer
exist, (i) any Interest Election Request that requests the conversion of any Borrowing to, or
continuation of any Borrowing as, a Eurodollar Borrowing shall be ineffective, and (ii) if any
Borrowing Request requests a Eurodollar Borrowing, such Borrowing shall be made as an ABR
Borrowing; provided that if the circumstances giving rise to such notice affect only one Type of
Borrowing, then the other Type of Borrowing shall be permitted.

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     Section 2.15 Illegality; Increased Costs.

     (a) If any Change in Law shall make it unlawful or impossible for any Lender to make, maintain
or fund its Eurodollar Loans, such Lender shall so notify the Administrative Agent. Upon receipt
of such notice, the Administrative Agent shall immediately give notice thereof to the other Lenders
and to the Borrower, whereupon until such Lender notifies the Borrower and the Administrative Agent
that the circumstances giving rise to such suspension no longer exist, the obligation of such
Lender to make Eurodollar Loans shall be suspended. If such Lender shall determine that it may not
lawfully continue to maintain and fund any of its outstanding Eurodollar Loans to maturity and
shall so specify in such notice, the Borrower shall immediately prepay (which prepayment shall not
be subject to Section 2.11) in full the then outstanding principal amount of such
Eurodollar Loans, together with the accrued interest thereon.

     (b) If any Change in Law shall:

     (i) impose, modify or deem applicable any reserve, special deposit or similar
requirement against assets of, deposits with or for the account of, or credit extended by,
any Lender (except any such reserve requirement reflected in Section 2.13(f)) or the
Issuing Bank; or

     (ii) impose on any Lender or the Issuing Bank or the London interbank market any other
condition affecting this Agreement or Eurodollar Loans made by such Lender or any Letter of
Credit or participation therein;

and the result of any of the foregoing shall be to increase the cost to such Lender of making or
maintaining any Eurodollar Loan (or of maintaining its obligation to make any such Loan) or to
increase the cost to such Lender or the Issuing Bank of participating in, issuing or maintaining
any Letter of Credit or to reduce the amount of any sum received or receivable by such Lender or
the Issuing Bank hereunder (whether of principal, interest or otherwise), then the Borrower will
pay to such Lender or the Issuing Bank, as the case may be, such additional amount or amounts as
will compensate such Lender or the Issuing Bank, as the case may be, for such additional costs
incurred or reduction suffered.

     (c) If any Lender or the Issuing Bank determines that any Change in Law regarding capital
requirements has or would have the effect of reducing the rate of return on such Lender’s or the
Issuing Bank’s capital or on the capital of such Lender’s or the Issuing Bank’s holding company, if
any, as a consequence of this Agreement or the Loans made by, or participations in Letters of
Credit held by, such Lender, or the Letters of Credit issued by the Issuing Bank, to a level below
that which such Lender or the Issuing Bank or such Lender’s or the Issuing Bank’s holding company
could have achieved but for such Change in Law (taking into consideration such Lender’s or the
Issuing Bank’s policies and the policies of such Lender’s or the Issuing Bank’s holding company
with respect to capital adequacy), then from time to time the Borrower will pay to such Lender or
the Issuing Bank, as the case may be, such additional amount or amounts as will compensate such
Lender or the Issuing Bank or such Lender’s or the Issuing Bank’s holding company for any such
reduction suffered.

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     (d) A certificate of a Lender or the Issuing Bank setting forth, in reasonable detail showing
the computation thereof, the amount or amounts necessary to compensate such Lender or the Issuing
Bank or its holding company, as the case may be, as specified in paragraph (b) or (c) of this
Section shall be delivered to the Borrower and shall be conclusive absent manifest error. Such
certificate shall further certify that such Lender or the Issuing Bank is making similar demands of
its other similarly situated borrowers. The Borrower shall pay such Lender or the Issuing Bank, as
the case may be, the amount shown as due on any such certificate within 10 days after receipt
thereof, if such certificate complies herewith.

     (e) Failure or delay on the part of any Lender or the Issuing Bank to demand compensation
pursuant to this Section shall not constitute a waiver of such Lender’s or the Issuing Bank’s right
to demand such compensation; provided that the Borrower shall not be required to compensate
a Lender or the Issuing Bank pursuant to this Section for any increased costs or reductions
incurred more than 90 days prior to the date that such Lender or the Issuing Bank, as the case may
be, notifies the Borrower of the Change in Law giving rise to such increased costs or reductions
and of such Lender’s or the Issuing Bank’s intention to claim compensation therefor;
provided further that, if the Change in Law giving rise to such increased costs or
reductions is retroactive, then the 90-day period referred to above shall be extended to include
the period of retroactive effect thereof (to the extent that such period of retroactive effect is
not already included in such 90-day period).

     Section 2.16 Break Funding Payments. In the event of (a) the payment of any principal
of any Eurodollar Loan other than on the last day of an Interest Period applicable thereto
(including as a result of an Event of Default, but excluding any mandatory prepayment made as and
when required by Section 2.11(d)), (b) the conversion of any Eurodollar Loan other than on
the last day of the Interest Period applicable thereto, (c) the failure to borrow, convert,
continue or prepay any Loan on the date specified in any notice delivered pursuant hereto
(regardless of whether such notice may be revoked under Section 2.11(b) and is revoked in
accordance therewith), or (d) the assignment of any Eurodollar Loan other than on the last day of
the Interest Period applicable thereto as a result of a request by the Borrower pursuant to
Section 2.19, then, in any such event, the Borrower shall compensate each Lender for the
loss, cost and expense (excluding loss of anticipated profits) attributable to such event. A
certificate of any Lender setting forth, in reasonable detail showing the computation thereof, any
amount or amounts that such Lender is entitled to receive pursuant to this Section shall be
delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay
such Lender the amount shown as due on any such certificate within 10 days after receipt thereof,
if such certificate complies herewith.

     Section 2.17 Taxes.

     (a) Any and all payments by or on account of any obligation of the Borrower hereunder shall be
made free and clear of and without deduction for any Indemnified Taxes or Other Taxes; provided
that if the Borrower shall be required to deduct any Indemnified Taxes or Other Taxes from such
payments, then (i) the sum payable shall be increased as necessary so that after making all
required deductions (including deductions applicable to additional sums payable under this Section)
the Administrative Agent, Lender or Issuing Bank (as the case may be) receives an amount equal to
the sum it would have received had no such deductions been made, (ii) the Borrower shall make such
deductions, and

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(iii) the Borrower shall pay the full amount deducted to the relevant Governmental
Authority in accordance with applicable law.

     (b) In addition, the Borrower shall pay any Other Taxes to the relevant Governmental Authority
in accordance with applicable law.

     (c) The Borrower shall indemnify the Administrative Agent, each Lender and the Issuing Bank,
within 10 days after written demand therefor, for the full amount of any Indemnified Taxes or Other
Taxes paid by the Administrative Agent, such Lender or the Issuing Bank, as the case may be, on or
with respect to any payment by or on account of any obligation of the Borrower hereunder (including
Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under
this Section) and any penalties, interest and reasonable expenses arising therefrom or with respect
thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or
asserted by the relevant Governmental Authority; provided that the Borrower shall not be required
to indemnify or reimburse a Lender pursuant to this Section for any Indemnified Taxes or Other
Taxes imposed or asserted more than 90 days prior to the date that such Lender notifies the
Borrower of the Indemnified Taxes or Other Taxes imposed or asserted and of such Lender’s intention
to claim compensation therefor;
provided further that, if the Indemnified Taxes or Other Taxes imposed or asserted giving rise
to such claims are retroactive, then the 90-day period referred to above shall be extended to
include the period of retroactive effect thereof (to the extent that such period of retroactive
effect is not already included in such 90-day period). A certificate setting forth, in reasonable
detail showing the computation thereof, the amount of such payment or liability delivered to the
Borrower by a Lender, the Administrative Agent or the Issuing Bank on its own behalf or on behalf
of a Lender or the Issuing Bank, shall be conclusive absent manifest error.

     (d) As soon as practicable after any payment of Indemnified Taxes or Other Taxes by the
Borrower to a Governmental Authority, the Borrower shall deliver to the Administrative Agent the
original or a certified copy of a receipt issued by such Governmental Authority evidencing such
payment, a copy of the return reporting such payment or other evidence of such payment reasonably
satisfactory to the Administrative Agent.

     (e) Any Foreign Lender that is entitled to an exemption from or reduction of withholding tax
under the law of the jurisdiction in which the Borrower is located, or any treaty to which such
jurisdiction is a party, with respect to payments under this Agreement shall deliver to the
Borrower (with a copy to the Administrative Agent), at the time or times prescribed by applicable
law, such properly completed and executed documentation prescribed by applicable law or reasonably
requested by the Borrower as will permit such payments to be made without withholding or at such
reduced rate.

     (f) Should any Lender, the Issuing Bank or the Administrative Agent during the term of this
Agreement receive any refund, credit or deduction from any taxing authority to which such Lender,
the Issuing Bank or the Administrative Agent would not be entitled but for the payment by the
Borrower of Taxes (it being understood that the decision as to whether or not to claim, and if
claimed, as to the amount of any such refund, credit or deduction shall be made by such Lender, the
Issuing Bank or the Administrative Agent in its sole discretion), such Lender, the Issuing Bank or
the Administrative Agent, as the case may be, thereupon shall repay

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to the Borrower an amount with
respect to such refund, credit or deduction equal to any net reduction in taxes actually obtained
by such Lender, the Issuing Bank or the Administrative Agent, as the case may be, and determined by
such Lender, the Issuing Bank or the Administrative Agent, as the case may be, to be attributable
to such refund, credit or deduction.

     (g) Except for a request by the Borrower under Section 2.19(b), no Foreign Lender
shall be entitled to the benefits of Section 2.17(a) or Section 2.17(c) if
withholding tax is imposed on amounts payable to such Foreign Lender at the time such Foreign
Lender becomes a party to this Agreement or designates a new lending office.

     Section 2.18 Payments Generally; Pro Rata Treatment; Sharing of Set-offs.

     (a) The Borrower shall make each payment required to be made by it hereunder (whether of
principal, interest, fees, or reimbursement of LC Disbursements, or of amounts payable under
Section 2.15, Section 2.16 or Section 2.17, or otherwise) prior to 1:00
p.m., New York City time, on the date when due, in immediately available funds, without set-off or
counterclaim. Any amounts received after such time on any date may, in the discretion of the
Administrative Agent, be deemed to have been received on the next succeeding Business Day for
purposes of calculating interest thereon. All such payments shall be made to the Administrative
Agent at its offices at 399 Park Avenue, New York, New York 10043, except payments to be made
directly to the Issuing Bank as expressly provided herein and except that payments pursuant to
Section 2.15, Section 2.16, Section 2.17 and Section 9.03 shall be
made directly to the Persons entitled thereto. The Administrative Agent shall distribute any such
payments received by it for the account of any other Person to the appropriate recipient promptly
following receipt thereof. If any payment hereunder shall be due on a day that is not a Business
Day, the date for payment shall be extended to the next succeeding Business Day, and, in the case
of any payment accruing interest, interest thereon shall be payable for the period of such
extension. All payments hereunder shall be made in dollars.

     (b) If at any time insufficient funds are received by and available to the Administrative
Agent to pay fully all amounts of principal, unreimbursed LC Disbursements, interest and fees then
due hereunder, such funds shall be applied (i) first, towards payment of interest and fees then due
hereunder, ratably among the parties entitled thereto in accordance with the amounts of interest
and fees then due to such parties, and (ii) second, towards payment of principal, unreimbursed LC
Disbursements, and cash collateral as such collateral is required by Section 2.06(j) then
due hereunder and toward the payment of the Borrower’s or its Subsidiaries’ obligations under any
Swap Agreements, if any, owing to the Lenders or their Affiliates, ratably among the parties
entitled thereto in accordance with the amounts of principal, unreimbursed LC Disbursements and
obligations under Swap Agreements then due to such parties.

     (c) If any Lender shall, by exercising any right of set-off or counterclaim or otherwise,
obtain payment in respect of any principal of or interest on any of its Loans or participations in
LC Disbursements resulting in such Lender receiving payment of a greater proportion of the
aggregate amount of its Loans and participations in LC Disbursements and accrued interest thereon
than the proportion received by any other Lender, then the Lender receiving such greater proportion
shall purchase (for cash at face value) participations in the

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Loans and participations in LC
Disbursements of other Lenders to the extent necessary so that the benefit of all such payments
shall be shared by the Lenders ratably in accordance with the aggregate amount of principal of and
accrued interest on their respective Loans and participations in LC Disbursements; provided that
(i) if any such participations are purchased and all or any portion of the payment giving rise
thereto is recovered, such participations shall be rescinded and the purchase price restored to the
extent of such recovery, without interest, and (ii) the provisions of this paragraph shall not be
construed to apply to any payment made by the Borrower pursuant to and in accordance with the
express terms of this Agreement or any payment obtained by a Lender as consideration for the
assignment of or sale of a participation in any of its Loans or participations in LC Disbursements
to any assignee or participant, other than to the Borrower or any Subsidiary or Affiliate thereof
(as to which the provisions of this paragraph shall apply). The Borrower consents to the foregoing
and agrees, to the extent it may effectively do so under applicable law, that any Lender acquiring
a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of
set-off and counterclaim with respect to such participation as fully as if such Lender were a
direct creditor of the Borrower in the amount of such participation.

     (d) Unless the Administrative Agent shall have received notice from the Borrower prior to the
date on which any payment is due to the Administrative Agent for the account of the Lenders or the
Issuing Bank hereunder that the Borrower will not make such payment, the Administrative Agent may
assume that the Borrower has made such payment on such date in accordance herewith and may, in
reliance upon such assumption, distribute to the Lenders or the Issuing Bank, as the case may be,
the amount due. In such event, if the Borrower has not in fact made such payment, then each of the
Lenders or the Issuing Bank, as the case may be, severally agrees to repay to the Administrative
Agent forthwith on demand the amount so distributed to such Lender or the Issuing Bank, as the case
may be, with interest thereon, for each day from and including the date such amount is distributed
to it to but excluding the date of payment to the Administrative Agent, at the greater of the
Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with
banking industry rules on interbank compensation.

     (e) If any Lender shall fail to make any payment required to be made by it pursuant to
Section 2.06(d), 2.06(e), 2.07(b), Section 2.18(d) or Section
9.03(c), then the Administrative Agent may, in its discretion (notwithstanding any contrary
provision hereof), apply any amounts thereafter received by the Administrative Agent for the
account of such Lender to satisfy such Lender’s obligations under such Sections until all such
unsatisfied obligations are fully paid.

     Section 2.19 Mitigation Obligations; Replacement of Lenders.

     (a) If any Lender requests compensation under Section 2.13(f) or Section 2.15,
or if the Borrower is required to pay any additional amount to any Lender or any Governmental
Authority for the account of any Lender pursuant to Section 2.17, then such Lender shall
use reasonable efforts to designate a different lending office for funding or booking its Loans
hereunder or to assign its rights and obligations hereunder to another of its offices, branches or
affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate
or reduce amounts payable pursuant to Section 2.13(f), Section 2.15 or Section
2.17, as the case

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may be, in the future and (ii) would not subject such Lender to any
unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The
Borrower hereby agrees to pay all reasonable costs and expenses incurred by any Lender in
connection with any such designation or assignment. Subject to the foregoing, Lenders agree to use
reasonable efforts to select lending offices which will minimize taxes and other costs and expenses
for the Borrower.

     (b) If any Lender requests compensation under Section 2.13(f) or Section 2.15,
or if the Borrower is required to pay any additional amount to any Lender or any Governmental
Authority for the account of any Lender pursuant to Section 2.17, or if any Lender defaults
in its obligation to fund Loans hereunder, then the Borrower may, at its sole expense and effort,
upon notice to such Lender and the Administrative Agent, require such Lender to assign and
delegate, without recourse (in accordance with and subject to the restrictions contained in
Section 9.04), all its interests, rights and obligations under this Agreement to an
assignee that shall assume such obligations (which assignee may be another Lender, if a Lender
accepts such assignment); provided that (i) the Borrower shall have received the prior written
consent of the Administrative
Agent (and if a Revolving Credit Commitment is being assigned, the Issuing Bank), which
consent shall not unreasonably be withheld, (ii) such Lender shall have received payment of an
amount equal to the outstanding principal of its Loans and participations in LC Disbursements,
accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the
assignee (to the extent of such outstanding principal and accrued interest and fees) or the
Borrower (in the case of all other amounts) and (iii) in the case of any such assignment resulting
from a claim for compensation under Section 2.13(f) or Section 2.15 or payments
required to be made pursuant to Section 2.17, such assignment will result in a reduction in
such compensation or payments. A Lender shall not be required to make any such assignment and
delegation if, prior thereto, as a result of a waiver by such Lender or otherwise, the
circumstances entitling the Borrower to require such assignment and delegation cease to apply. If
any Lender refuses to assign and delegate all its interests, rights and obligations under this
Agreement after the Borrower has required such Lender to do so as a result of a claim for
compensation under Section 2.13(f) or Section 2.15 or payments required to be made
pursuant to Section 2.17, such Lender shall not be entitled to receive such compensation or
required payments.

ARTICLE III

Representations and Warranties

     The Borrower represents and warrants to the Lenders that:

     Section 3.01 Organization; Powers. The Borrower and each of its Subsidiaries is duly
formed, validly existing and (if applicable) in good standing (except, with respect to Subsidiaries
other than Material Subsidiaries, where the failure to be in good standing, individually or in the
aggregate, could not reasonably be expected, to the best of Borrower’s knowledge, to result in a
Material Adverse Effect) under the laws of the jurisdiction of its organization, has all requisite
power and authority to carry on its business in all material respects as now conducted and, except
where the failure to do so, individually or in the aggregate, could not reasonably be expected, to
the best of Borrower’s knowledge, to result in a Material Adverse Effect, is qualified to do
business in, and (if applicable) is in good standing in, every jurisdiction where such
qualification is required.

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     Section 3.02 Authorization; Enforceability. The Transactions are within the
Borrower’s limited partnership powers and have been duly authorized by all necessary partnership
action. This Agreement has been duly executed and delivered by the Borrower and constitutes a
legal, valid and binding obligation of the Borrower, enforceable against the Borrower in accordance
with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other
laws affecting creditors’ rights generally and subject to general principles of equity, regardless
of whether considered in a proceeding in equity or at law.

     Section 3.03 Governmental Approvals; No Conflicts. The Transactions (a) do not
require any consent or approval of, registration or filing with, or any other action by, any
Governmental Authority, except (i) such as have been obtained or made and are in full force and
effect, and (ii) filings and recordings required to perfect the
Liens created under the Security Instruments, (b) will not violate any law or regulation
applicable to the Borrower or the limited partnership agreement, charter, by-laws or other
organizational documents of the Borrower or any of its Subsidiaries or any order of any
Governmental Authority to which the Borrower or any of its Subsidiaries is subject, (c) will not
violate or result in a default under any material indenture, agreement or other instrument binding
upon the Borrower or any of its Subsidiaries or assets of Borrower or any of its Subsidiaries, or
give rise to a right thereunder to require any payment to be made by the Borrower or any of its
Subsidiaries, and (d) will not result in the creation or imposition of any Lien on any asset of the
Borrower or any of its Subsidiaries that is prohibited hereby.

     Section 3.04 Financial Condition; No Material Adverse Change.

     (a) The Borrower has heretofore furnished to the Lenders the Borrower’s consolidated balance
sheet and statements of income and cash flows as of and for the fiscal year ended December 31,
2006. Such financial statements present fairly, in all material respects, the financial position
and results of operations and cash flows of the Borrower and its consolidated subsidiaries as of
such dates and for such periods in accordance with GAAP.

     (b) No Material Adverse Change exists.

     Section 3.05 Reserved.

     Section 3.06 Litigation and Environmental Matters.

     (a) There are no actions, suits or proceedings by or before any arbitrator or Governmental
Authority pending against or, to the knowledge of the Borrower, threatened against or affecting the
Borrower or any of its Subsidiaries (i) as to which there is a reasonable possibility of an adverse
determination and that, if adversely determined, could reasonably be expected, to the best of
Borrower’s knowledge, individually or in the aggregate, to result in a Material Adverse Effect
(other than the Disclosed Matters) or (ii) that involve this Agreement or the Transactions.

     (b) Except for the Disclosed Matters and except with respect to any other matters that,
individually or in the aggregate, could not reasonably be expected, to the best of Borrower’s
knowledge, to result in a Material Adverse Effect, neither the Borrower nor any of its Subsidiaries
(i) has failed to comply with any Environmental Law or to obtain, maintain or

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comply with any
permit, license or other approval required under any Environmental Law, (ii) has become subject to
any Environmental Liability, (iii) has received notice of any claim with respect to any
Environmental Liability or (iv) knows of any basis for any Environmental Liability.

     (c) To the best of Borrower’s knowledge, since the date of this Agreement, there has been no
change in the status of the Disclosed Matters that, individually or in the aggregate, has resulted
in a Material Adverse Effect.

     Section 3.07 Compliance with Laws; No Default. The Borrower and each of its
Subsidiaries is in compliance with all laws, regulations and orders of any Governmental Authority
applicable to it or its property, except where the failure to do so, individually or in the
aggregate, could not, to the best of Borrower’s knowledge, reasonably be expected to result in a
Material Adverse Effect. No Default has occurred and is continuing.

     Section 3.08 Investment and Holding Company Status. Neither the Borrower nor any of
its Subsidiaries is (a) an “investment company” as defined in, or subject to regulation under, the
Investment Company Act of 1940 or (b) subject to regulation under the Public Utility Holding
Company Act of 2005.

     Section 3.09 Taxes. The Borrower and each of its Subsidiaries has timely filed or
caused to be filed all Tax returns and reports required to have been filed and has paid or caused
to be paid all Taxes required to have been paid by it, except (a) Taxes that are being contested in
good faith by appropriate proceedings and for which the Borrower or such Subsidiary, as applicable,
has set aside on its books adequate reserves or (b) to the extent that the failure to do so could
not, to the best of Borrower’s knowledge, reasonably be expected to result in a Material Adverse
Effect.

     Section 3.10 ERISA. No ERISA Event has occurred or is reasonably expected to occur
that, when taken together with all other such ERISA Events for which liability is reasonably
expected to occur, could, to the best of Borrower’s knowledge, reasonably be expected to result in
a Material Adverse Effect.

     Section 3.11 Disclosure. None of the reports, financial statements, certificates or
other information furnished by or on behalf of the Borrower to the Administrative Agent or any
Lender in connection with the negotiation of this Agreement (as modified or supplemented by other
information so furnished) contains any material misstatement of fact or omits to state any material
fact necessary to make the statements therein, in the light of the circumstances under which they
were made, not misleading; provided that, with respect to projected financial information, the
Borrower represents only that such information was prepared in good faith based upon assumptions
believed to be reasonable at the time.

     Section 3.12 Subsidiaries. As of the Effective Date, Borrower has no Subsidiaries other than those listed on
Schedule 3.12 hereto. As of the Effective Date, Schedule 3.12 sets forth the jurisdiction
of incorporation or organization of each such Subsidiary, the percentage of Borrower’s ownership of
the outstanding Equity Interests of each Subsidiary directly owned by Borrower, and the percentage
of each Subsidiary’s ownership of the outstanding Equity Interests

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of each other Subsidiary. As of
the Effective Date, Schedule 3.12 hereto lists the correct ownership of Enterprise.

     Section 3.13 Margin Securities. Neither the Borrower nor any Subsidiary is engaged
principally, or as one of its important activities, in the business of extending credit for the
purpose of purchasing or carrying margin stock (within the meaning of Regulations U or X of the
Board), and no part of the proceeds of any Loan will be used to purchase or carry any margin stock
in violation of said Regulations U or X or to extend credit to others for the purpose of purchasing
or carrying margin stock in violation of said Regulations U or X.

     Section 3.14 Reserved.

     Section 3.15 Not a “Reportable Transaction. The Borrower does not intend to treat the
Borrowings and related Transactions as being a “reportable transaction” (within the meaning of
Treasury Regulation Section 1.6011-4). In the event the Borrower determines to take any action
inconsistent with such intention, it will promptly notify each Administrative Agent thereof. If
the Borrower so notifies each Administrative Agent, the Borrower acknowledges that one or more of
the Lenders may treat its Loans as part of a transaction that is subject to Treasury Regulation
Section 1.6011-4 or Section 301.6112-1, and the Borrower shall cooperate in good faith with each
Administrative Agent and such Lender or Lenders, as applicable, in connection with any action such
parties reasonably determine is necessary to comply with such Treasury Regulations.

     Section 3.16 Priority; Security Matters. The Security Instruments create valid
security interests in the Collateral described therein in favor of each Administrative Agent for
the benefit of the Lenders securing the Obligations and constitute perfected first priority
security interests in such Collateral described therein subject to no Liens other than those
permitted by subclauses (a), (b), (c), (g), (i) and (l) of the definition of Permitted Liens,
except to the extent such security interests are not perfected or do not have first priority status
solely as a result of any action or inaction by either Administrative Agent or any Lender occurring
after the execution and delivery of the Loan Documents.

     Section 3.17 Foreign Assets Control Regulation. Borrower’s use of the proceeds of the
Loans will not violate the Trading with the Enemy Act, as amended, or any of the foreign assets
control regulations of the United States
Treasury Department (31 CFR, Subtitle B, Chapter V, as amended) or any enabling legislation or
executive order relating thereto.

ARTICLE IV

Conditions

     Section 4.01 Effective Date. The obligations of the Lenders to make Loans and of the
Issuing Bank to issue Letters of Credit hereunder shall not become effective until the Effective
Date which is scheduled to occur when each of the following conditions is satisfied.

     (a) The Administrative Agent (or its counsel) shall have received from each party hereto
either (i) a counterpart of this Agreement signed on behalf of such party or (ii) written evidence
satisfactory to the Administrative Agent (which may include telecopy transmission of a

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signed
signature page of this Agreement) that such party has signed a counterpart of this Agreement.

     (b) The Administrative Agent shall have received a favorable written opinion (addressed to the
Administrative Agent and the Lenders and dated the Effective Date) of Richard H. Bachmann,
Executive Vice President and Chief Legal Officer of the Borrower, and Bracewell & Giuliani LLP,
substantially in form and substance satisfactory to the Administrative Agent.

     (c) The Administrative Agent shall have received such documents and certificates as the
Administrative Agent or its counsel may reasonably request relating to the organization and
existence of the Borrower and its Subsidiaries, the authorization of the Transactions and any other
legal matters relating to the Borrower and its Subsidiaries, this Agreement or the Transactions,
all in form and substance reasonably satisfactory to the Administrative Agent and its counsel.

     (d) The Administrative Agent shall have received each promissory note requested by a Lender
pursuant to Section 2.10(e), each duly completed and executed by the Borrower.

     (e) The Administrative Agent shall have received the Security Instruments in form and
substance satisfactory to the Lenders.

     (f) The Administrative Agent shall have received a certificate, dated the Effective Date and
signed by the President, an Executive Vice President or a Financial Officer of the Borrower,
confirming compliance with the conditions set forth in paragraphs (a) and (b) of Section
4.02.

     (g) The Administrative Agent shall have received all fees and other amounts due and payable on
or prior to the Effective Date, including, to the extent invoiced five (5) Business Days prior to
closing, reimbursement or payment of all out-of-pocket expenses required to be reimbursed or paid
by the Borrower hereunder.

     (h) The Administrative Agent shall have received satisfactory evidence that the “Loans” (as
that term is defined in the Existing Credit Agreement) under the Existing Credit Agreement have
been irrevocably refinanced by the Loans.

     (i) The Lenders shall have received the Borrower’s consolidated balance sheet and statements
of income and cash flows as of and for the fiscal year ended December 31, 2006.

     (j) All necessary governmental and third-party approvals, if any, required to be obtained by
the Borrower in connection with the Transactions and otherwise referred to herein shall have been
obtained and remain in effect (except where failure to obtain such approvals will not have a
Material Adverse Effect), and all applicable waiting periods shall have expired without any action
being taken by any applicable authority.

     The date on which all of the foregoing conditions have been satisfied (or waived pursuant to
Section 9.02) shall be the “Effective Date.” The Administrative Agent shall notify the
Borrower and the Lenders of the Effective Date, and such notice shall be conclusive and binding.

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Notwithstanding the foregoing, the obligations of the Lenders to make Loans and of the Issuing Bank
to issue Letters of Credit hereunder and the changes effected by this Agreement and the documents
delivered in connection herewith shall not become effective until the Effective Date, and if the
Effective Date has not occurred at or prior to 3:00 p.m., New York City time, on May 31, 2007, (a)
this Agreement and the documents delivered in connection herewith shall permanently be of no force
or effect and (b) the Existing Credit Agreement and the “Security Instruments” (as that term is
defined in the Existing Credit Agreement) shall remain in effect as they existed immediately prior
to the execution hereof.

     Section 4.02 Each Credit Event. The obligation of each Lender to make a Loan on the
occasion of any Borrowing (exclusive of continuations and conversions of a Borrowing), and of the
Issuing Bank to issue, amend, renew or extend any Letter of Credit, is subject to the satisfaction
of the following conditions:

     (a) The representations and warranties of the Borrower set forth in this Agreement and the
other Loan Documents shall be true and correct in all material respects on and as of the date of
such Borrowing or the date of issuance, amendment, renewal or extension of such Letter of Credit,
as applicable (other than those representations and warranties that expressly relate to a specific
earlier date, which shall be true and correct in all material respects as of such earlier date).

     (b) At the time of and immediately after giving effect to such Borrowing or the issuance,
amendment, renewal or extension of such Letter of Credit, as applicable, no Default or Event of
Default shall have occurred and be continuing.

     Each Borrowing (exclusive of continuations and conversions of a Borrowing) and each issuance,
amendment, renewal or extension of a Letter of Credit shall be deemed to constitute a
representation and warranty by the Borrower on the date thereof as to the matters specified in
paragraphs (a) and (b) of this Section.

ARTICLE V

Affirmative Covenants

     Until the Commitments have expired or terminated and the principal of and interest on each
Loan and all fees payable hereunder shall have been paid in full and all Letters of Credit shall
have expired or terminated and all LC Disbursements shall have been reimbursed, the Borrower
covenants and agrees with the Lenders that:

     Section 5.01 Financial Statements and Other Information. The Borrower will furnish,
or cause to be furnished to the Administrative Agent:

     (a) Promptly after becoming available and in any event within 120 days after the close of each
fiscal year of the Borrower, on EDGAR or by transmission or delivery in accordance with Section
9.01, (i) the audited consolidated balance sheet of the Borrower and its consolidated
subsidiaries as at the end of such year and (ii) the audited consolidated statements of income,
equity and cash flow of the Borrower and its consolidated subsidiaries for such year setting forth
in each case in comparative form the corresponding figures for the preceding fiscal

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year, which
report shall be to the effect that such statements have been prepared in accordance with GAAP;

     (b) Promptly after their becoming available and in any event within 60 days after the close of
each fiscal quarter (except after the close of each fiscal year) of the Borrower, on EDGAR or by
transmission or delivery in accordance with Section 9.01, (i) the unaudited consolidated
balance sheet of the Borrower and its consolidated subsidiaries as at the end of such quarter and
(ii) the unaudited consolidated statements of income, equity and cash flow of the Borrower and its
consolidated subsidiaries for such quarter, setting forth in each case in comparative form the
corresponding figures for the preceding fiscal year, all of the foregoing certified by a Financial
Officer of the Borrower to have been prepared in accordance with GAAP subject to normal changes
resulting from year-end adjustments; and

     (c) Within 60 days after the end of each fiscal quarter of each fiscal year of the Borrower
(or 120 days, in the case of the last fiscal quarter of a fiscal year), a certificate of a
Financial Officer of the Borrower substantially in the form of Exhibit E (i) certifying as
to whether a Default has occurred that is then continuing and, if a Default has occurred that is
then continuing, specifying the details thereof and any action taken or proposed to be taken with
respect thereto, and (ii) setting forth in reasonable detail calculations demonstrating compliance
with Section 6.07.

     Section 5.02 Notices of Material Events. The Borrower will furnish to the
Administrative Agent and each Lender prompt written notice of the following:

     (a) the occurrence of any Event of Default; and

     (b) any other development that results in, or could reasonably be expected to result in, a
Material Adverse Effect.

     Each notice delivered under this Section shall be accompanied by a statement of a Financial
Officer or other executive officer of the Borrower setting forth the details of the event or
development requiring such notice and any action taken or proposed to be taken with respect
thereto.

     Section 5.03 Existence; Conduct of Business. The Borrower will do or cause to be done
all things necessary to preserve, renew and keep in full force and effect its and its Subsidiaries’
legal existence and the rights, licenses, permits, privileges and franchises material to the
conduct of its business; provided that the foregoing shall not prohibit any merger, consolidation,
liquidation or dissolution not prohibited under Section 6.03.

     Section 5.04 Further Assurances. The Borrower will and will cause each Subsidiary to
cure promptly any defects in the creation and issuance of any promissory note created and issued
pursuant to Section 2.10(e) and the execution and delivery of the Security Instruments and
this Agreement. The Borrower at its expense will and will cause each Subsidiary to promptly
execute and deliver to the Administrative Agent upon reasonable request all such other documents,
agreements and instruments necessary to comply with or accomplish the covenants and agreements of
the Borrower or any Subsidiary, as the case may be, in the Security Instruments and this Agreement,
or to further evidence and more fully describe the

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Collateral intended as security for all
indebtedness, obligations and liabilities of the Borrower to the Agent and/or the Lenders under any
of the Loan Documents, or to correct any unintended omissions in the Security Instruments, or to
state more fully the security obligations set out herein or in any of the Security Instruments, or
to perfect, protect or preserve any Liens created pursuant to any of the Security Instruments, or
to make any recordings, to file any notices or obtain any consents, all as may be necessary in
connection therewith.

     Section 5.05 Maintenance of Properties; Insurance. The Borrower will, and will cause
each of its Subsidiaries to, (a) keep and maintain all property material to the conduct of its
business in good working order and condition, ordinary wear and tear excepted, and (b) maintain,
with financially sound and reputable insurance companies, insurance in such amounts and against
such risks as are customarily maintained by companies engaged in the same or similar businesses
operating in the same or similar locations.

     Section 5.06 Books and Records; Inspection Rights. The Borrower will, and will cause
each of its Subsidiaries to, keep in accordance with GAAP proper books of record and account in
which full, true and correct entries are made in all material respects of all dealings and
transactions in relation to its business and activities. The Borrower will, and will cause each of
its Subsidiaries to, permit any representatives designated by the Administrative Agent or any
Lender, upon reasonable prior notice, to visit and inspect its properties, to examine and make
extracts from its books and records, and to discuss its affairs, finances and condition with its
officers and independent accountants, all at such reasonable times and as often as reasonably
requested.

     Section 5.07 Compliance with Laws. The Borrower will, and will cause each of its
Subsidiaries to, comply with all laws, rules, regulations and orders of any Governmental Authority
applicable to it or its property, except where the failure to do so, individually or in the
aggregate, could not reasonably be expected to result in a Material Adverse Effect.

     Section 5.08 Use of Proceeds and Letters of Credit.

     (a) All or a portion of the proceeds of the Loans made on the Effective Date will be used to
fully and irrevocably refinance all amounts outstanding under the “Loans” (as that term is defined
in the Existing Credit Agreement) under the Existing Credit Agreement. All other proceeds of the
Loans made on or after the Effective Date will be used for the refinancing referred to in the prior
sentence, to fund the acquisition of approximately 38,976,090 million ETE Common Units and an
approximate 35% membership interest in ETE GP, to pay related fees and expenses or for other
general partnership and limited liability company purposes of the Borrower and its subsidiaries.
No part of the proceeds of any Loan will be used, whether directly or indirectly, for any purpose
that entails a violation of any of the Regulations of the Board, including Regulations U and X.

     (b) Letters of Credit may be issued for such lawful purposes as the Borrower may elect.

     Section 5.09 Environmental Matters. The Borrower has established and implemented, or
will establish and implement, and will cause each of its Subsidiaries to establish

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and implement,
such procedures as may be necessary to assure that any failure of the following does not have a
Material Adverse Effect: (i) all property of the Borrower and its Subsidiaries and the operations
conducted thereon are in compliance with and do not violate the requirements of any Environmental
Laws, (ii) no oil or solid wastes are disposed of or otherwise released on or to any property owned
by the Borrower or its Subsidiaries except in compliance with Environmental Laws, (iii) no
Hazardous Materials will be released on or to any such property in a quantity equal to or exceeding
that quantity which requires reporting pursuant to Section 103 of CERCLA, and (iv) no oil or
Hazardous Materials is released on or to any such property so as to pose an imminent and
substantial endangerment to public health or welfare or the environment.

     Section 5.10 ERISA Information. The Borrower will furnish to the Administrative
Agent:

     (a) within 15 Business Days after the institution of or the withdrawal or partial withdrawal
by the Borrower, any Subsidiary or any ERISA Affiliate from any Multiemployer Plan which would
cause the Borrower, any Subsidiary or any ERISA Affiliate to incur Withdrawal Liability in excess
of $5,000,000 (in the aggregate for all such withdrawals), a
written notice thereof signed by an executive officer of the Borrower stating the applicable
details; and

     (b) within 15 Business Days after an officer of the Borrower becomes aware of any material
action at law or at equity brought against the Borrower, any of its Subsidiaries, any ERISA
Affiliate, or any fiduciary of a Plan in connection with the administration of any Plan or the
investment of assets thereunder, a written notice signed by an executive officer of the Borrower
specifying the nature thereof and what action the Borrower is taking or proposes to take with
respect thereto.

     Section 5.11 Taxes. Pay and discharge, or cause to be paid and discharged, promptly
or make, or cause to be made, timely deposit of all taxes (including Federal Insurance Contribution
Act payments and withholding taxes), assessments and governmental charges or levies imposed upon
the Borrower or any Subsidiary or upon the income or any property of the Borrower or any
Subsidiary; provided, however, that neither the Borrower nor any Subsidiary shall be required to
pay any such tax, assessment, charge, levy or claim if the amount, applicability or validity
thereof shall currently be contested in good faith by appropriate proceedings diligently conducted
by or on behalf of the Borrower or its Subsidiary, and if the Borrower or its Subsidiary shall have
set up reserves therefor adequate under GAAP or if no Material Adverse Effect shall be occasioned
by all such failures in the aggregate.

ARTICLE VI

Negative Covenants

     Until the Commitments have expired or terminated and the principal of and interest on each
Loan and all fees payable hereunder have been paid in full and all Letters of Credit have expired
or terminated and all LC Disbursements shall have been reimbursed, the Borrower covenants and
agrees with the Lenders that:

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     Section 6.01 Indebtedness. The Borrower shall not, and shall not permit any
Subsidiary, TEPPCO GP or Enterprise GP to create, incur or assume any Indebtedness on or after the
date hereof, except:

     (a) Indebtedness incurred under this Agreement;

     (b) With respect to the Borrower and its Subsidiaries (and TEPPCO GP and Enterprise GP, but
only so long as the Borrower is the lender with respect to such indebtedness) intercompany
Indebtedness;

     (c) other Indebtedness in an aggregate principal amount not exceeding $25,000,000 at any time
outstanding;

     (d) with respect to Enterprise GP, Indebtedness incurred by it solely as a result of its
status as general partner of Enterprise, so long as such Indebtedness is not a contractual
obligation of Enterprise GP, whether contingent or otherwise, and with respect to TEPPCO GP,
Indebtedness incurred by it solely as a result of its status as general partner of TEPPCO, so
long as such Indebtedness is not a contractual obligation of TEPPCO GP, whether contingent or
otherwise; and

     (e) Indebtedness the net proceeds of which are used to prepay the Loans pursuant to
Section 2.11(d) contemporaneously with the issuance of such Indebtedness; provided that the
amount of such Indebtedness permitted under this subclause (e) shall not, in the aggregate, exceed
the amount necessary to fully pay any amounts outstanding under the Term Loan (Debt Bridge) and the
Term Loan (Equity Bridge);

     provided, however, that neither the Borrower nor any Subsidiary shall create, incur or assume
any Indebtedness pursuant to any provision of this Section 6.01 if an Event of Default
shall have occurred and be continuing or would result from such creation, incurrence or assumption.

     Section 6.02 Liens. The Borrower shall not, and shall not permit any Subsidiary to,
create, assume, incur or suffer to exist any Lien, other than a Permitted Lien and Liens to secure
Indebtedness permitted under Section 6.01(c), on any Principal Property or upon any Equity
Interests of any Subsidiary owning or leasing any Principal Property, now owned or hereafter
acquired by the Borrower or such Subsidiary to secure any Indebtedness of the Borrower, any
Subsidiary, Enterprise or any other Person (other than the Indebtedness under this Agreement),
without in any such case making effective provision whereby any and all Indebtedness under this
Agreement then outstanding will be secured by a Lien equally and ratably with, or prior to, such
Indebtedness for so long as such Indebtedness shall be so secured. Notwithstanding anything in
this Agreement or any other Loan Document to the contrary, the Borrower shall not, and shall not
permit any Subsidiary to, create, assume, incur or suffer to exist any Lien on any of the
Collateral other than (i) to secure the Obligations and (ii) those described in Section
3.16.

     Section 6.03 Fundamental Changes. The Borrower will not merge into or consolidate
with any other Person, or permit any other Person to merge into or consolidate with it, or sell,
transfer, lease or otherwise dispose of (in one transaction or in a series of transactions) all or
substantially all of its assets, or all or substantially all of the Equity Interests of any of its

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Subsidiaries (in each case, whether now owned or hereafter acquired), or liquidate or dissolve,
except that, if at the time thereof and immediately after giving effect thereto no Default shall
have occurred and be continuing (i) any Person may merge into or consolidate with the Borrower in a
transaction in which the Borrower is the surviving entity and (ii) Borrower may sell or otherwise
dispose of all or any portion of the Equity Interests of any of its Subsidiaries except to the
extent such Equity Interests constitute Collateral.

     Section 6.04
Reserved.

     Section 6.05
Restricted Payments. The Borrower will not, and will not permit any of its Subsidiaries to, declare or make, or
agree to pay or make, directly or indirectly, any Restricted Payments, except that:

          (i) any Subsidiary may make Restricted Payments to the Borrower, any Subsidiary and other
owners of Equity Interests in such Subsidiary making the Restricted Payment; and

          (ii) so long as no Event of Default shall have occurred and be continuing and provided that no
Event of Default would result from the making of such Restricted Payment, the Borrower may make
Restricted Payments from Available Cash cumulative from the date of the Borrower’s IPO through the
date of such Restricted Payment.

     Section 6.06 Restrictive Agreements. The Borrower will not, and will not permit any
of its Subsidiaries, Enterprise, Enterprise GP, TEPPCO, TEPPCO GP or EOLP to, directly or
indirectly, enter into, incur or permit to exist any agreement or other arrangement with any
Person, other than the Lenders pursuant hereto or restrictions or conditions existing on the date
hereof and identified on Schedule 6.06 (or any other restriction or condition substantially
the same as those listed on Schedule 6.06), which prohibits, restricts or imposes any
conditions upon the ability of any Subsidiary to (a) pay dividends or make other distributions or
pay any Indebtedness owed to the Borrower, Enterprise, Enterprise GP, TEPPCO, TEPPCO GP, EOLP, or
any Subsidiary, or (b) make subordinate loans or advances to or make other investments in the
Borrower, Enterprise, Enterprise GP, TEPPCO, TEPPCO GP, EOLP or any Subsidiary, in each case, other
than restrictions or conditions contained in, or existing by reasons of, any agreement or
instrument (i) existing on the date hereof and identified on Schedule 6.06, (ii) relating
to property existing at the time of the acquisition thereof, so long as the restriction or
condition relates only to the property so acquired, (iii) relating to any Indebtedness of, or
otherwise to, any subsidiary of Enterprise, Enterprise GP, TEPPCO, TEPPCO GP or EOLP at the time
such subsidiary was merged or consolidated with or into, or acquired by, Enterprise, Enterprise GP,
TEPPCO, TEPPCO GP or EOLP or a subsidiary of any of them or became a subsidiary of Enterprise,
Enterprise GP, TEPPCO, TEPPCO GP or EOLP and not created in contemplation thereof, (iv) effecting a
renewal, extension, refinancing, refund or replacement (or successive extensions, renewals,
refinancings, refunds or replacements) of Indebtedness issued under an agreement referred to in
clauses (i) through (iii) above, so long as the restrictions and conditions contained in any such
renewal, extension, refinancing, refund or replacement agreement, taken as a whole, are not
materially more restrictive than the restrictions and conditions contained in the original
agreement, as determined in good faith by the board of directors, or equivalent, of the Borrower,
the relevant Subsidiary, Enterprise, Enterprise GP, TEPPCO, TEPPCO GP or EOLP,

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(v) constituting
customary provisions restricting subletting or assignment of any leases of Enterprise, Enterprise
GP, EOLP, TEPPCO, TEPPCO GP or any subsidiary of any of them or provisions in agreements that
restrict the assignment of such agreement or any rights thereunder, (vi) constituting restrictions
on the sale or other disposition of any property securing Indebtedness as a result of a Lien on
such property permitted hereunder, (vii) constituting any temporary encumbrance or restriction with
respect to a subsidiary of Enterprise, Enterprise GP, TEPPCO, TEPPCO GP or EOLP under an agreement
that has been entered into for the disposition of all or substantially all of the outstanding
Equity Interests of or assets of such subsidiary, provided that
such disposition is otherwise permitted hereunder, (viii) constituting customary restrictions
on cash, other deposits or assets imposed by customers and other persons under contracts entered
into in the ordinary course of business, (ix) constituting provisions contained in agreements or
instruments relating to Indebtedness that prohibit the transfer of all or substantially all of the
assets of the obligor under that agreement or instrument unless the transferee assumes the
obligations of the obligor under such agreement or instrument or such assets may be transferred
subject to such prohibition, (x) constituting a requirement that a certain amount of Indebtedness
be maintained between a subsidiary of Enterprise, Enterprise GP, TEPPCO, TEPPCO GP or EOLP and
Enterprise GP, Enterprise, TEPPCO, TEPPCO GP or EOLP or another subsidiary of any of them, (xi)
constituting any restriction or condition with respect to property under an agreement that has been
entered into for the disposition of such property, provided that such disposition is otherwise
permitted hereunder, or (xii) constituting any restriction or condition with respect to property
under a charter, lease or other agreement that has been entered into for the employment of such
property.

     Section 6.07 Financial Condition Covenant. The Borrower shall not permit its Leverage
Ratio in each case for the four full fiscal quarters most recently ended to exceed 7.50 to 1.00.
For purposes of this Section 6.07, if during any period of four fiscal quarters the
Borrower or any Subsidiary acquires any Person (or any interest in any Person) or all or
substantially all of the assets of any Person, the EBITDA attributable to such assets or an amount
equal to the percentage of ownership of the Borrower in such Person times the EBITDA of such
Person, for such period determined on a pro forma basis (which determination, in each case, shall
be subject to approval of each Administrative Agent, not to be unreasonably withheld) may be
included as Consolidated EBITDA for such period; provided that during the portion of such period
that follows such acquisition, the computation in respect of the EBITDA of such Person or such
assets, as the case may be, shall be made on the basis of actual (rather than pro forma) results.

ARTICLE VII

Events of Default

     If any of the following events (“Events of Default”) shall occur:

     (a) the Borrower shall fail to pay any principal of any Loan or fail to pay any reimbursement
obligation in respect of any LC Disbursement when and as the same shall become due and payable,
whether at the due date thereof or at a date fixed for prepayment thereof or otherwise;

     (b) the Borrower shall fail to pay any interest on any Loan or any fee or any other amount
(other than an amount referred to in clause (a) of this Article) payable under this

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Agreement, when
and as the same shall become due and payable, and such failure shall continue unremedied for a
period of five (5) Business Days;

     (c) any representation or warranty made or deemed made by or on behalf of the Borrower, any
party to a Loan Document (other than Administrative Agent, the Administrative Agent or any Lender),
or any Material Subsidiary in or in connection with this Agreement or any
amendment or modification hereof or waiver hereunder, or in any Security Instrument, report,
certificate, financial statement or other document furnished pursuant to or in connection with this
Agreement or any amendment or modification hereof or waiver hereunder, shall prove to have been
incorrect in any material respect when made or deemed made and such materiality is continuing;

     (d) the Borrower shall fail to observe or perform any covenant, condition or agreement
contained in Section 5.02, Section 5.03 (with respect to the Borrower’s existence)
or Section 5.08 or in Article VI;

     (e) the Borrower shall fail to observe or perform any covenant, condition or agreement
contained in this Agreement (other than those specified in clause (a), (b) or (d) of this Article)
or in any Security Instrument, and such failure shall continue unremedied for a period of 30 days
after written notice thereof from the Administrative Agent to the Borrower (which notice will be
given at the request of any Lender);

     (f) the Borrower, Enterprise, Enterprise GP, EOLP, TEPPCO, TEPPCO GP or any Material
Subsidiary shall fail to make any payment of principal or interest (regardless of amount) in
respect of any Material Indebtedness, when and as the same shall become due and payable, (whether
by scheduled maturity, required prepayment, acceleration, demand or otherwise), and such failure
shall continue after the applicable grace period, if any, specified in the agreement or instrument
relating to such Material Indebtedness; for the avoidance of doubt the parties acknowledge and
agree that any payment required to be made under a guaranty of payment or collection described in
clause (c) of the definition of Indebtedness shall be due and payable at the time such payment is
due and payable under the terms of such guaranty (taking into account any applicable grace period)
and to the extent of any applicable grace period only, such payment shall be deemed not to have
been accelerated or required to be prepaid prior to its stated maturity as a result of the
obligation guaranteed having become due;

     (g) the Borrower, Enterprise, Enterprise GP, EOLP, TEPPCO, TEPPCO GP or any Material
Subsidiary shall default in the observance or performance of any covenant or obligation contained
in any agreement or instrument relating to any such Material Indebtedness that in substance is
customarily considered a default in loan documents (in each case, other than a failure to pay
specified in subsection (f) of this Article VII) and such default shall continue after the
applicable grace period, if any, specified in such agreement or instrument, if the effect thereof
is to accelerate the maturity of such Material Indebtedness or require such Material Indebtedness
to be prepaid prior to the stated maturity thereof;

     (h) an involuntary proceeding shall be commenced or an involuntary petition shall be filed, or
any Person referenced below shall otherwise become subject to such proceeding or petition seeking
(i) liquidation, reorganization or other relief in respect of the Borrower, any

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party to a Loan
Document (other than Administrative Agent, the Administrative Agent or any Lender), Enterprise,
Enterprise GP, EOLP, TEPPCO, TEPPCO GP or any Material Subsidiary or its debts, or of a substantial
part of its assets, under any Federal, state or foreign bankruptcy, insolvency, receivership or
similar law now or hereafter in effect or (ii) the appointment of a receiver, trustee, custodian,
sequestrator, conservator or similar official for the Borrower, any party to a Loan Document (other
than Administrative Agent, the Administrative Agent or any
Lender), Enterprise, Enterprise GP, EOLP, TEPPCO, TEPPCO GP or any Material Subsidiary or for
a substantial part of its assets, and, in any such case, such proceeding or petition shall continue
undismissed for 60 days or an order or decree approving or ordering any of the foregoing shall be
entered;

     (i) the Borrower, any party to a Loan Document (other than Administrative Agent, the
Administrative Agent or any Lender), Enterprise, Enterprise GP, EOLP, TEPPCO, TEPPCO GP or any
Material Subsidiary shall (i) voluntarily commence any proceeding, file any petition or any such
Person shall otherwise subject itself to any proceeding, seeking liquidation, reorganization or
other relief under any Federal, state or foreign bankruptcy, insolvency, receivership or similar
law now or hereafter in effect, (ii) consent to the institution of, or fail to contest in a timely
and appropriate manner, any proceeding or petition described in clause (h) of this Article, (iii)
apply for or consent to the appointment of a receiver, trustee, custodian, sequestrator,
conservator or similar official for the Borrower, any party to a Loan Document (other than
Administrative Agent, the Administrative Agent or any Lender), Enterprise, Enterprise GP, EOLP,
TEPPCO, TEPPCO GP or any Material Subsidiary or for a substantial part of its assets, (iv) file an
answer admitting the material allegations of a petition filed against it in any such proceeding,
(v) make a general assignment for the benefit of creditors or (vi) take any action for the purpose
of effecting any of the foregoing;

     (j) the Borrower, any party to a Loan Document (other than Administrative Agent, the
Administrative Agent or any Lender), Enterprise, Enterprise GP, EOLP, TEPPCO, TEPPCO GP or any
Material Subsidiary shall become unable, admits in writing its inability or fails generally to pay
its debts as they become due;

     (k) one or more judgments for the payment of money in an aggregate uninsured amount equal to
or greater than $25,000,000 shall be rendered against the Borrower or any Material Subsidiary or
any combination thereof and the same shall remain undischarged for a period of 30 consecutive days
during which execution shall not be effectively stayed, or any action shall be legally taken by a
judgment creditor to attach or levy upon any assets of the Borrower or any Material Subsidiary to
enforce any such judgment;

     (l) an ERISA Event shall have occurred that, when taken together with all other ERISA Events
that have occurred, could reasonably be expected to result in liability of the Borrower and its
Subsidiaries in an aggregate amount exceeding (i) $5,000,000 in any year or (ii) $10,000,000 for
all periods;

     (m) the Security Instruments after delivery thereof shall for any reason, except to the extent
permitted by the terms thereof, cease to be in full force and effect and valid, binding and
enforceable in accordance with their terms, or cease to create a valid and perfected first

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priority
Lien on any of the Collateral purported to be covered thereby, except to the extent permitted by
the terms of this Agreement, or the Borrower shall so state in writing;

     (n) a Change in Control shall occur;

     (o) this Agreement or any other Loan Document ceases to be valid and binding on the Borrower
or any of its Subsidiaries party thereto in any material respect or is declared, by a
court of competent jurisdiction, null and void in any material respect, or the validity or
enforceability thereof is contested by Borrower or any Subsidiary or Borrower or any Subsidiary
denies it has any or further liability under this Agreement or under the other Loan Documents to
which it is a party or there shall occur a “Default” or “Event of Default” as defined in any Loan
Document;

then, and in every such event (other than an event with respect to the Borrower described in clause
(h) or (i) of this Article), and at any time thereafter during the continuance of such event, the
Administrative Agent at the request of the Required Lenders shall, by notice to the Borrower, take
either or both of the following actions, at the same or different times: (i) terminate the
Commitments, and thereupon the Commitments shall terminate immediately, and (ii) declare the Loans
then outstanding to be due and payable in whole (or in part, in which case any principal not so
declared to be due and payable may thereafter be declared to be due and payable), and thereupon the
principal of the Loans so declared to be due and payable, together with accrued interest thereon
and all fees and other obligations of the Borrower accrued hereunder, shall become due and payable
immediately, without presentment, demand, protest or other notice of any kind, all of which are
hereby waived by the Borrower; and in case of any event with respect to the Borrower described in
clause (h) or (i) of this Article, the Commitments shall automatically terminate and the principal
of the Loans then outstanding, together with accrued interest thereon and all fees and other
obligations of the Borrower accrued hereunder, shall automatically become due and payable, without
presentment, demand, protest or other notice of any kind, all of which are hereby waived by the
Borrower.

ARTICLE VIII

The Agents

     Each of the Lenders and the Issuing Bank hereby irrevocably appoints the Administrative Agent
as its agent and authorizes the Administrative Agent to take such actions on its behalf and to
exercise such powers as are delegated to the Administrative Agent by the terms hereof, together
with such actions and powers as are reasonably incidental thereto.

     The Person serving as the Administrative Agent hereunder shall have the same rights and powers
in its capacity as a Lender as any other Lender and may exercise the same as though it were not
serving in such agency capacity, and such Person and its Affiliates may accept deposits from, lend
money to and generally engage in any kind of business with the Borrower, any Subsidiary or
Enterprise GP or other Affiliate thereof as if it were not an agent hereunder.

     The Administrative Agent shall not have any duties or obligations except those expressly set
forth herein. Without limiting the generality of the foregoing, (a) the Administrative Agent shall
not be subject to any fiduciary or other implied duties, regardless of whether a Default has

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occurred and is continuing, (b) the Administrative Agent shall not have any duty to take any
discretionary action or exercise any discretionary powers, except discretionary rights and powers
expressly contemplated hereby that the Administrative Agent is required to exercise in writing by
the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under
the circumstances as provided in Section 9.02), and (c) except as expressly set forth
herein, the Administrative Agent shall not have any duty to disclose, and shall not be liable for
the failure to disclose, any information relating to the Borrower, any of its Subsidiaries or
Enterprise GP that is communicated to or obtained by any of them while serving as
Administrative Agent, as applicable, or by any of their respective Affiliates in any capacity. The
Administrative Agent shall not be liable to the Lenders for any action taken or not taken by it
with the consent or at the request of the Required Lenders (or such other number or percentage of
the Lenders as shall be necessary under the circumstances as provided in Section 9.02) or
in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall
be deemed not to have knowledge of any Default unless and until written notice thereof is given to
the Administrative Agent by the Borrower or a Lender, and the Administrative Agent shall not be
responsible for or have any duty to ascertain or inquire into (i) any statement, warranty or
representation made in or in connection with this Agreement, (ii) the contents of any certificate,
report or other document delivered hereunder or in connection herewith, (iii) the performance or
observance of any of the covenants, agreements or other terms or conditions set forth herein, (iv)
the validity, enforceability, effectiveness or genuineness of this Agreement or any other
agreement, instrument or document, or (v) the satisfaction of any condition set forth in
Article IV or elsewhere herein, other than to confirm receipt of items expressly required
to be delivered to them.

     The Administrative Agent shall be entitled to rely upon, and shall not incur any liability for
relying upon, any notice, request, certificate, consent, statement, instrument, document or other
writing believed by it to be genuine and to have been signed or sent by the proper Person. The
Administrative Agent also may rely upon any statement made to it orally or by telephone and
believed by it to be made by the proper Person, and shall not incur any liability for relying
thereon. The Administrative Agent may consult with legal counsel (who may be counsel for the
Borrower), independent accountants and other experts selected by it, and shall not be liable for
any action taken or not taken by it in accordance with the advice of any such counsel, accountants
or experts.

     The Administrative Agent may perform any and all its duties and exercise its rights and powers
by or through any one or more sub-agents appointed by such Person. The Administrative Agent and
any such sub-agent may perform any and all its duties and exercise its rights and powers through
their respective Related Parties. The exculpatory provisions of the preceding paragraphs shall
apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such
sub-agent, and shall apply to their respective activities in connection with the syndication of the
credit facilities provided for herein as well as activities as Administrative Agent.

     Subject to the appointment and acceptance of a successor Administrative Agent as provided in
this paragraph, the Administrative Agent may resign at any time by notifying the Lenders, the
Issuing Bank and the Borrower. Upon any such resignation, the Required Lenders shall have the
right, with the Borrower’s approval (which will not be unreasonably withheld or

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delayed, and the
Borrower’s approval shall not be required if an Event of Default has occurred which is continuing),
to appoint a successor. If no successor shall have been so appointed by the Required Lenders and
shall have accepted such appointment within 30 days after the retiring Administrative Agent gives
notice of its resignation, then the retiring Administrative Agent may, with the Borrower’s approval
(which will not be unreasonably withheld or delayed, and the Borrower’s approval shall not be
required if an Event of Default has occurred which is continuing), on behalf of the Lenders and the
Issuing Bank, appoint a successor Administrative
Agent which shall be a bank with an office in New York, New York, or an Affiliate of any such
bank and such bank, or its Affiliate, as applicable, shall have capital and surplus equal to or
greater than $500,000,000. Upon the acceptance of its appointment as Administrative Agent
hereunder by a successor, such successor shall succeed to and become vested with all the rights,
powers, privileges and duties of the retiring Administrative Agent and the retiring Administrative
Agent shall be discharged from its duties and obligations hereunder. The fees payable by the
Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor
unless otherwise agreed between the Borrower and such successor. After such agent’s resignation
hereunder, the provisions of this Article and Section 9.03 shall continue in effect for the
benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties
in respect of any actions taken or omitted to be taken by any of them while it was acting as
Administrative Agent.

     Each Lender acknowledges that it has, independently and without reliance upon the
Administrative Agent or any other Lender and based on such documents and information as it has
deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each
Lender also acknowledges that it will, independently and without reliance upon the Administrative
Agent or any other Lender and based on such documents and information as it shall from time to time
deem appropriate, continue to make its own decisions in taking or not taking action under or based
upon this Agreement, any related agreement or any document furnished hereunder or thereunder.

     Neither the Co-Documentation Agents nor the Syndication Agent shall have any right, power,
obligation, liability, responsibility or duty under this Agreement other than those applicable to
all Lenders as such. Without limiting the foregoing, neither the Co-Documentation Agents nor the
Syndication Agent shall have or be deemed to have a fiduciary relationship with any Lender. Each
Lender hereby makes the same acknowledgements with respect to each of the Co-Documentation Agents
and the Syndication Agent as it makes with respect to the Administrative Agent in the immediately
preceding paragraph of this Article VIII.

ARTICLE IX

Miscellaneous

     Section 9.01 Notices. Except in the case of notices and other communications
expressly permitted to be given by telephone, all notices and other communications provided for
herein shall be in writing and shall be delivered by hand or overnight courier service, mailed by
certified or registered mail or sent by telecopy, as follows:

     (a) if to the Borrower, to it at 1100 Louisiana Building, Suite 1000, Houston, Texas 77002,
Attention of Treasurer (for delivery) (Telecopy No. 713/381-8200);

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     (b) if to the Administrative Agent, to Citicorp North America, Inc., 2 Penns Way, Suite 200,
New Castle, Delaware 19720, Attention of Enterprise GP Holdings L.P. Account Officer (Telecopy No.
212.994.0961), with a copy to Citicorp North America, Inc., 333 Clay
Street, Suite 3700, Houston, Texas 77002, Attention of Enterprise GP Holdings L.P. Account
Officer (Telecopy No. 713.481.0247); and

     (c) if to any other Lender, to it at its address (or telecopy number) set forth in its
Administrative Questionnaire.

     (d) The Borrower will have the option to provide to the Administrative Agent all information,
documents and other materials that it is obligated to furnish to the Administrative Agent pursuant
to the Loan Documents, including, without limitation, all notices, requests, financial statements,
financial and other reports, certificates and other information materials, but excluding any such
communication that (i) relates to a request for a new, or a conversion of an existing, Borrowing or
other extension of credit (including any election of an interest rate or Interest Period relating
thereto) or relates to the issuance, amendment, renewal or extension of any Letter of Credit, (ii)
relates to the payment of any principal or other amount due under this Agreement prior to the
scheduled date therefor, (iii) provides notice of any Default or Event of Default, or (iv) other
than the requirements set forth in Sections 3.04(a), 4.01(i) and 5.01, is
required to be delivered to satisfy any condition precedent to the effectiveness of this Agreement
and/or any Borrowing, any issuance, amendment, renewal or extension of any Letter of Credit or any
other extension of credit hereunder (all such non-excluded communications being referred to herein
collectively as “Communications”), by transmitting the Communications in an electronic/soft
medium in a format acceptable to the Administrative Agent to “. The Borrower further agrees that
the Administrative Agent may make the Communications available to the Lenders and the Issuing Bank
by posting the Communications on Intralinks or a substantially similar electronic transmission
system (the “Platform”). The Borrower acknowledges that the distribution of material
through an electronic medium is not necessarily secure and that there are confidentiality and other
risks associated with such distribution. The Platform is provided “as is” and “as available”.
The Agent Parties (as defined below) do not warrant the accuracy or completeness of the
Communications, or the adequacy of the Platform and expressly disclaim liability for errors or
omissions in the Communications. No warranty of any kind, express, implied or statutory,
including, without limitation, any warranty of merchantability, fitness for a particular purpose,
non-infringement of third party rights or freedom from viruses or other code defects, is made by
the Agent Parties in connection with the Communications or the Platform. In no event shall the
Administrative Agent or any of its affiliates or any of their respective officers, directors,
employees, agents, advisors or representatives (collectively, “Agent Parties”) have any liability
to the Borrower, any Lender or any other Person or entity for damages of any kind, including,
without limitation, direct or indirect, special, incidental or consequential damages, losses or
expenses (whether in tort, contract or otherwise) arising out of the Borrower’s or the
Administrative Agent’s transmission of Communications through the internet, except to the extent
the liability of any Agent Party is found in a final non-appealable judgment by a court of
competent jurisdiction to have resulted primarily from such Agent Party’s gross negligence or
willful misconduct. The Administrative Agent agrees that the receipt of the Communications by
the Administrative Agent at its e-mail address set forth above shall constitute effective delivery
of the Communications to the Administrative Agent for purposes of

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the Loan Documents. Each of the
Issuing Bank and the Lenders agrees that notice to it (as provided in the next sentence) specifying
that the Communications have been posted to the Platform shall constitute effective delivery of the
Communications to such Issuing Bank or
Lender, as the case may be, for purposes of the Loan Documents. Each of the Issuing Bank and
the Lenders agrees to notify the Administrative Agent in writing (including by electronic
communication) from time to time of such Issuing Bank’s or Lender’s, as the case may be, e-mail
address to which the foregoing notice may be sent by electronic transmission, and (ii) that the
foregoing notice may be sent to such e-mail address. Nothing herein shall prejudice the right of
the Administrative Agent or any Lender to give any notice or other communication pursuant to any
Loan Document in any other manner specified in such Loan Document.

     Any party hereto may change its address or telecopy number for notices and other
communications hereunder by notice to the other parties hereto (or, in the case of any Lender, to
the Borrower and the Administrative Agent). All notices and other communications given to any
party hereto in accordance with the provisions of this Agreement shall be deemed to have been given
on the date of receipt.

     Section 9.02 Waivers; Amendments.

     (a) No failure or delay by the Administrative Agent, the Issuing Bank or any Lender in
exercising any right or power hereunder shall operate as a waiver thereof, nor shall any single or
partial exercise of any such right or power, or any abandonment or discontinuance of steps to
enforce such a right or power, preclude any other or further exercise thereof or the exercise of
any other right or power. The rights and remedies of the Administrative Agent, the Lenders and the
Issuing Bank hereunder are cumulative and are not exclusive of any rights or remedies that they
would otherwise have. No waiver of any provision of this Agreement or consent to any departure by
the Borrower therefrom shall in any event be effective unless the same shall be permitted by
paragraph (b) of this Section, and then such waiver or consent shall be effective only in the
specific instance and for the purpose for which given. Without limiting the generality of the
foregoing, the making of a Loan or issuance of a Letter of Credit shall not be construed as a
waiver of any Default, regardless of whether the Administrative Agent, any Lender or the Issuing
Bank may have had notice or knowledge of such Default at the time.

     (b) Neither this Agreement nor any provision hereof may be waived, amended or modified except
pursuant to an agreement or agreements in writing entered into by the Borrower and the Required
Lenders or by the Borrower and the Administrative Agent with the consent of the Required Lenders;
provided that no such agreement shall (i) increase or extend any Commitment of any Lender without
the written consent of such Lender, (ii) reduce the principal amount of any Loan (including without
limitation any LC Disbursement) or reduce the rate of interest thereon, or reduce any fees payable
hereunder, without the written consent of each Lender affected thereby, (iii) postpone the
scheduled date of payment of the principal amount of any Loan or LC Disbursement, or any interest
thereon, or any fees payable hereunder, or reduce the amount of, waive or excuse any such payment,
or postpone the scheduled date of expiration of any Commitment, without the written consent of each
Lender affected thereby, (iv) release any party from its obligations under the Security Instruments
or release all or substantially all of the property covered by the Security Instruments except as
otherwise provided therein, without the prior written consent of all Lenders, (v) change
Section 2.18(b) or Section 2.18(c) in a

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manner that would alter the pro rata
sharing of payments required thereby, or any other
Section of this Agreement that requires pro rata treatment of the Lenders, without the written
consent of each Lender, or (vi) change any of the provisions of this Section or the definition of
“Required Lenders” or any other provision hereof specifying the number or percentage of Lenders
required to waive, amend or modify any rights hereunder or make any determination or grant any
consent hereunder, without the written consent of each Lender; provided further that no such
agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent
or the Issuing Bank hereunder without the prior written consent of the Administrative Agent or the
Issuing Bank, as the case may be.

     Section 9.03 Expenses; Indemnity; Damage Waiver.

     (a) The Borrower shall pay (i) all reasonable out-of-pocket expenses incurred by the
Administrative Agent and its Affiliates, including the reasonable fees, charges and disbursements
of one law firm as counsel for the Administrative Agent, in connection with the syndication of the
credit facilities provided for herein, the negotiation, preparation and administration of this
Agreement or any amendments, modifications or waivers of the provisions hereof (whether or not the
transactions contemplated hereby or thereby shall be consummated), (ii) all reasonable
out-of-pocket expenses incurred by the Issuing Bank in connection with the issuance, amendment,
renewal or extension of any Letter of Credit or any demand for payment thereunder and (iii) all
out-of-pocket expenses reasonably incurred during the existence of an Event of Default by the
Administrative Agent, the Issuing Bank or any Lender, including the fees, charges and disbursements
of any counsel for the Administrative Agent, the Issuing Bank or any Lender, in connection with the
enforcement or protection of its rights in connection with this Agreement, including its rights
under this Section, or in connection with the Loans made or Letters of Credit issued hereunder,
including all such out-of-pocket expenses incurred during any workout, restructuring or
negotiations in respect of such Loans or Letters of Credit.

     (b) The Borrower shall indemnify the Administrative Agent, each Lender, and each Related Party
of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold
each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related
expenses, including the fees, charges and disbursements of any counsel for any Indemnitee, incurred
by or asserted against any Indemnitee arising out of, in connection with, or as a result of (i) the
execution or delivery of this Agreement or any agreement or instrument contemplated hereby, the
performance by the parties hereto of their respective obligations hereunder or the consummation of
the Transactions or any other transactions contemplated hereby, (ii) any Loan or Letter of Credit
or the use of the proceeds therefrom (including any refusal by the Issuing Bank to honor a demand
for payment under a Letter of Credit if the documents presented in connection with such demand do
not strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged presence
or release of Hazardous Materials on or from any property owned or operated by the Borrower, any of
its Subsidiaries or Enterprise GP, or any Environmental Liability related in any way to the
Borrower, any of its Subsidiaries or Enterprise GP, or (iv) any actual or prospective claim,
litigation, investigation or proceeding relating to any of the foregoing, whether based on
contract, tort or any other theory and regardless of whether any Indemnitee is a party thereto and
whether brought by a third party or by the Borrower or any Subsidiary; provided that such indemnity
shall not, as to any Indemnitee, be available (x) to the extent that such losses, claims,
damages,

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liabilities or related expenses resulted from the gross negligence or willful misconduct
of such Indemnitee or any Related Party of such Indemnitee, or (y) in connection with disputes
among or between the Administrative Agent, the Lenders, the Issuing Bank and/or their respective
Related Parties.

     (c) To the extent that the Borrower fails to pay any amount required to be paid by it to the
Administrative Agent or the Issuing Bank under paragraph (a) or (b) of this Section, each Lender
severally agrees to pay to the Administrative Agent or Issuing Bank, as the case may be, such
Lender’s Applicable Percentage (determined as of the time that the applicable unreimbursed expense
or indemnity payment is sought) of such unpaid amount; provided that the unreimbursed expense or
indemnified loss, claim, damage, liability or related expense, as the case may be, was incurred by
or asserted against the Administrative Agent or the Issuing Bank in its capacity as such.

     (d) To the extent permitted by applicable law, the Borrower shall not assert, and hereby
waives, any claim against any Indemnitee, on any theory of liability, for punitive damages (as
opposed to direct or actual damages) arising out of, in connection with, or as a result of, this
Agreement or any agreement or instrument contemplated hereby, the Transactions, any Loan or Letter
of Credit or the use of the proceeds thereof.

     (e) All amounts due under this Section shall be payable not later than 30 days after written
demand therefor, such demand to be in reasonable detail setting forth the basis for and method of
calculation of such amounts.

     Section 9.04 Successors and Assigns.

     (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns permitted hereby (including any
Affiliate of the Issuing Bank that issues any Letter of Credit), except that the Borrower may not
assign or otherwise transfer any of its rights or obligations hereunder without the prior written
consent of each Lender (and any attempted assignment or transfer by the Borrower without such
consent shall be null and void). Nothing in this Agreement, expressed or implied, shall be
construed to confer upon any Person (other than the parties hereto, their respective successors and
assigns permitted hereby (including any Affiliate of the Issuing Bank that issues any Letter of
Credit) and, to the extent expressly contemplated hereby, the Related Parties of each of the
Administrative Agent, the Issuing Bank and the Lenders) any legal or equitable right, remedy or
claim under or by reason of this Agreement.

     (b) Any Lender may assign to one or more assignees all or a portion of its rights and
obligations under this Agreement (including all or a portion of its Commitments and the Loans at
the time owing to it); provided that (i) except in the case of an assignment to a Lender, each of
the Borrower (except during the continuance of an Event of Default in which case Borrower’s consent
shall not be required) and the Administrative Agent (and, in the case of an assignment of all or a
portion of a Revolving Credit Commitment or any Lender’s obligations in
respect of its LC Exposure, the Issuing Bank) must give their prior written consent to such
assignment (which consent shall not be unreasonably withheld or delayed), (ii) except in the case
of an assignment to a Lender or an assignment of the entire remaining amount of the assigning

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Lender’s Commitments, the amount of each Commitment of the assigning Lender subject to each such
assignment (determined as of the date the Assignment and Acceptance with respect to such assignment
is delivered to the Administrative Agent) shall not be less than $10,000,000 unless each of the
Borrower and the Administrative Agent otherwise consent, (iii) each partial assignment shall result
in each of the assignor and the assignee retaining a Commitment, for each Class of Commitments
assigned, of not less than $10,000,000 and shall be made as an assignment of a proportionate part
of all the assigning Lender’s rights and obligations under this Agreement, (iv) the parties (other
than the Borrower) to each assignment shall execute and deliver to the Administrative Agent an
Assignment and Acceptance, together with a processing and recordation fee of $3,500, (v) the
assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative
Questionnaire and (vi) no assignment to a Foreign Bank shall be made hereunder unless, at the time
of such assignment, there is no withholding tax applicable with respect to such Foreign Bank for
which the Borrower would be or become responsible under Section 2.17; and provided further
that any consent of the Borrower otherwise required under this paragraph shall not be required if
an Event of Default has occurred and is continuing. Subject to acceptance and recording thereof
pursuant to paragraph (d) of this Section, from and after the effective date specified in each
Assignment and Acceptance the assignee thereunder shall, with respect to the interest assigned, be
a party hereto and, to the extent of the interest assigned by such Assignment and Acceptance, have
the rights and obligations of a Lender under this Agreement, and the assigning Lender thereunder
shall, to the extent of the interest assigned by such Assignment and Acceptance, be released from
its obligations under this Agreement (and, in the case of an Assignment and Acceptance covering all
of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to
be a party hereto but shall continue to be entitled to the benefits of Section 2.15,
Section 2.16, Section 2.17 and Section 9.03 as to matters occurring on or
prior to date of assignment). Any assignment or transfer by a Lender of rights or obligations
under this Agreement that does not comply with this paragraph shall be treated for purposes of this
Agreement as a sale by such Lender of a participation in such rights and obligations in accordance
with paragraph (e) of this Section.

     (c) The Administrative Agent, acting for this purpose as an agent of the Borrower, shall
maintain at one of its offices in New York, New York (the address of which shall be made available
to any party to this Agreement upon request) a copy of each Assignment and Acceptance delivered to
it and a register for the recordation of the names and addresses of the Lenders and principal
amount of the Loans and the LC Disbursements owing to, each Lender pursuant to the terms hereof
from time to time (the “Register”). The entries in the Register shall be conclusive absent
manifest error, and the Borrower, the Administrative Agent, the Issuing Bank and the Lenders may
treat each Person whose name is recorded in the Register pursuant to the terms hereof as a Lender
hereunder for all purposes of this Agreement, notwithstanding notice to the contrary. The Register
shall be available for inspection by the Borrower, the Issuing Bank and any Lender, at any
reasonable time and from time to time upon reasonable prior notice.

     (d) Upon its receipt of a duly completed Assignment and Acceptance executed by an assigning
Lender and an assignee, the assignee’s completed Administrative Questionnaire (unless the assignee
shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph
(b) of this Section and any written consent to such assignment required

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by paragraph (b) of this
Section, the Administrative Agent shall accept such Assignment and Acceptance and record the
information contained therein in the Register. No assignment shall be effective for purposes of
this Agreement unless it has been recorded in the Register as provided in this paragraph.

     (e) Any Lender may, without the consent of the Borrower, or the Administrative Agent sell
participations to one or more banks or other entities (a “Participant”) in all or a portion of such
Lender’s rights and obligations under this Agreement (including all or a portion of its Commitments
and the Loans owing to it); provided that (i) such Lender’s obligations under this Agreement shall
remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for
the performance of such obligations and (iii) the Borrower, the Administrative Agent and the other
Lenders shall continue to deal solely and directly with such Lender in connection with such
Lender’s rights and obligations under this Agreement. Any agreement or instrument pursuant to
which a Lender sells such a participation shall provide that such Lender shall retain the sole
right to enforce this Agreement and to approve any amendment, modification or waiver of any
provision of this Agreement; provided that such agreement or instrument may provide that such
Lender will not, without the consent of the Participant, agree to any amendment, modification or
waiver described in the first proviso to Section 9.02(b) that affects such Participant.

     (f) A Participant shall not be entitled to receive any greater payment under Section
2.15 or Section 2.17 than the applicable Lender would have been entitled to receive
with respect to the participation sold to such Participant, unless the sale of the participation to
such Participant is made with the Borrower’s prior written consent. A Participant that would be a
Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 2.17
unless the Borrower is notified of the participation sold to such Participant and such Participant
agrees, for the benefit of the Borrower, to comply with Section 2.17(e) as though it were a
Lender and has zero withholding at the time of participation.

     (g) Any Lender may at any time pledge or assign a security interest in all or any portion of
its rights under this Agreement to secure obligations of such Lender to a Federal Reserve Bank, and
this Section shall not apply to any such pledge or assignment of a security interest; provided that
no such pledge or assignment of a security interest shall release a Lender from any of its
obligations hereunder or substitute any such pledgee or assignee for such Lender as a party hereto.

     Section 9.05 Survival. All covenants, agreements, representations and warranties made
by the Borrower herein and in the certificates or other instruments delivered in connection with
or pursuant to this Agreement shall be considered to have been relied upon by the other parties
hereto and shall survive the execution and delivery of this Agreement and the making of any Loans
and issuance of any Letters of Credit, regardless of any investigation made by any such other party
or on its
behalf and notwithstanding that the Administrative Agent, the Issuing Bank or any Lender may
have had notice or knowledge of any Default or incorrect representation or warranty at the time any
credit is extended hereunder, and shall continue in full force and effect as long as the principal
of or any accrued interest on any Loan or any fee or any other amount payable under this Agreement
is outstanding and unpaid or any Letter of Credit is outstanding and so long as the Commitments
have not expired or terminated. The provisions of

-57-

 

Section 2.15, Section 2.16,
Section 2.17 and Section 9.03 and Article VIII shall survive and remain in
full force and effect regardless of the consummation of the transactions contemplated hereby, the
repayment of the Loans, the expiration or termination of the Letters of Credit and the Commitments
or the termination of this Agreement or any provision hereof.

     Section 9.06 Counterparts; Integration; Effectiveness. This Agreement may be executed
in counterparts (and by different parties hereto on different counterparts), each of which shall
constitute an original, but all of which when taken together shall constitute a single contract.
This Agreement, the other Loan Documents, and any separate letter agreements with respect to fees
payable to the Administrative Agent constitute the entire contract among the parties relating to
the subject matter hereof and supersede any and all previous agreements and understandings, oral or
written, relating to the subject matter hereof. This Agreement shall become effective when it
shall have been executed by the Administrative Agent and when the Administrative Agent shall have
received counterparts hereof which, when taken together, bear the signatures of each of the other
parties hereto, and thereafter shall be binding upon and inure to the benefit of the parties hereto
and their respective successors and assigns. Delivery of an executed counterpart of a signature
page of this Agreement by telecopy shall be effective as delivery of a manually executed
counterpart of this Agreement.

     Section 9.07 Severability. Any provision of this Agreement held to be invalid,
illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the
extent of such invalidity, illegality or unenforceability without affecting the validity, legality
and enforceability of the remaining provisions hereof; and the invalidity of a particular provision
in a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

     Section 9.08 Right of Setoff. If an Event of Default shall have occurred and be
continuing and the Required Lenders have directed the Administrative Agent to accelerate under
Article VII, each Lender and each of its Affiliates is hereby authorized at any time and
from time to time, to the fullest extent permitted by law, to set off and apply any and all
deposits (general or special, time or demand, provisional or final) at any time held and other
obligations at any time owing by such Lender or Affiliate to or for the credit or the account of
the Borrower against any of and all the obligations of the Borrower now or hereafter existing under
this Agreement held by such Lender, irrespective of whether or not such Lender shall have made any
demand under this Agreement and although such obligations may be unmatured. The rights of each
Lender under this Section are in addition to other rights and remedies (including other rights of
setoff) which such Lender may have.

     Section 9.09 Governing Law; Jurisdiction; Consent to Service of Process.

     (a) This Agreement shall be construed in accordance with and governed by the law of the State
of New York.

     (b) The Borrower hereby irrevocably and unconditionally submits, for itself and its property,
to the nonexclusive jurisdiction of the Supreme Court of the State of New York sitting in New York
County and of the United States District Court of the Southern District of New York, and any
appellate court from any thereof, in any action or proceeding arising out of or relating to this
Agreement or any other Loan Document, or for recognition or enforcement of

-58-

 

any judgment, and each
of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of
any such action or proceeding may be heard and determined in such New York State or, to the extent
permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment
in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by
suit on the judgment or in any other manner provided by law. Nothing in this Agreement shall
affect any right that the Administrative Agent, the Issuing Bank or any Lender may otherwise have
to bring any action or proceeding relating to this Agreement against the Borrower or its properties
in the courts of any jurisdiction.

     (c) The Borrower hereby irrevocably and unconditionally waives, to the fullest extent it may
legally and effectively do so, any objection which it may now or hereafter have to the laying of
venue of any suit, action or proceeding arising out of or relating to this Agreement or any other
Loan Document in any court referred to in paragraph (b) of this Section. Each of the parties
hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an
inconvenient forum to the maintenance of such action or proceeding in any such court.

     (d) Each party to this Agreement irrevocably consents to service of process in the manner
provided for notices in Section 9.01. Nothing in this Agreement will affect the right of
any party to this Agreement to serve process in any other manner permitted by law.

     Section 9.10 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST
EXTENT PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL
PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS
CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (A)
CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY
OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE
FOREGOING WAIVER AND (B) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO
ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS
SECTION.

     Section 9.11 Headings. Article and Section headings and the Table of Contents used herein are for convenience of
reference only, are not part of this Agreement and shall not affect the construction of, or be
taken into consideration in interpreting, this Agreement.

     Section 9.12 Confidentiality. Each of the Administrative Agent, the Issuing Bank, the
Syndication Agent, the Co-Documentation Agents and the Lenders agrees to maintain the
confidentiality of the Information (as defined below), except that Information may be disclosed (a)
to its and its Affiliates’ directors, officers, employees and agents, including accountants, legal
counsel and other advisors (it being understood that the Persons to whom such disclosure is made
will be informed of the confidential nature of such Information and instructed to keep such
Information confidential), (b) to the extent requested by any regulatory authority, (c) to the
extent required by applicable laws or regulations or by any subpoena or similar legal process, (d)
to any other party to this Agreement, (e) in connection with the exercise of any remedies hereunder
or any suit, action or proceeding relating to this Agreement or the enforcement of

-59-

 

rights
hereunder, (f) subject to an agreement containing provisions substantially the same as those of
this Section, to any assignee of or Participant in, or any prospective assignee of or Participant
in, any of its rights or obligations under this Agreement, (g) with the consent of the Borrower or
(h) to the extent such Information (i) becomes publicly available other than as a result of a
breach of this Section or (ii) becomes available to the Administrative Agent, the Syndication
Agent, the Co-Documentation Agents, the Issuing Bank or any Lender on a non-confidential basis from
a source other than the Borrower and its Related Parties. Notwithstanding anything herein to the
contrary, Information shall not include, and the Administrative Agent, the Issuing Bank, the
Syndication Agent, the Co-Documentation Agents and each Lender may disclose without limitation of
any kind, any Information with respect to the “tax treatment” and “tax structure” (in each case,
within the meaning of Treasury Regulation Section 1.6011-4) of the Transactions contemplated hereby
and all materials of any kind (including opinions or other tax analyses) that are provided to the
Administrative Agent or such Person relating to such tax treatment and tax structure; provided that
with respect to any document or similar item that in either case contains Information concerning
the tax treatment or tax structure of the Transactions as well as other Information, this sentence
shall only apply to such portions of the document or similar item that relate to the tax treatment
or tax structure of the Loans and Transactions contemplated hereby. For the purposes of this
Section, “Information” means all information received from the Borrower relating to the Borrower or
its business, other than any such information that is available to the Administrative Agent, the
Issuing Bank or any Lender on a non-confidential basis prior to disclosure by the Borrower.

     Section 9.13 Interest Rate Limitation. Notwithstanding anything herein or in any
other Loan Document to the contrary, if at any time the interest rate applicable to any Loan,
together with all fees, charges and other amounts which are treated as interest on such Loan under
applicable law (collectively the “Charges”), shall exceed the maximum lawful rate (the “Maximum
Rate”) which may be contracted for, charged, taken, received or reserved by the Lender holding such
Loan in accordance with applicable law, the rate of interest payable in respect of such Loan
hereunder, together with all Charges payable in respect thereof, shall be limited to the Maximum
Rate and,
to the extent lawful, the interest and Charges that would have been payable in respect of such
Loan but were not payable as a result of the operation of this Section shall be cumulated and the
interest and Charges payable to such Lender in respect of other Loans or periods shall be increased
(but not above the Maximum Rate therefor) until such cumulated amount, together (to the extent
lawful) with interest thereon at the Federal Funds Effective Rate to the date of repayment, shall
have been received by such Lender.

     Section 9.14 Reserved.

     Section 9.15 Separateness. The Lenders acknowledge (i) the separateness as of the
date hereof of the Borrower, TEPPCO, TEPPCO GP, ETE, ETE GP, ETP, EPE Holdings, Enterprise and
Enterprise GP from each other and from other Persons, (ii) that the lenders and noteholders under
credit agreements with Enterprise, TEPPCO, TEPPCO GP, ETE, ETE GP, ETP, EPE Holdings or Enterprise
GP, or any one or more of them, have likely advanced funds thereunder in reliance upon the
separateness of the Borrower, TEPPCO, TEPPCO GP, ETE, ETE GP, ETP, EPE Holdings, Enterprise and
Enterprise GP from each other and from other Persons, (iii) that each of the Borrower, TEPPCO,
TEPPCO GP, ETE, ETE GP, ETP, EPE Holdings, Enterprise and Enterprise GP have assets and liabilities
that are separate from those of each other

-60-

 

and from those of other Persons, (iv) that the Loans and
other obligations owing under the Loan Documents have not been guaranteed by Enterprise, Enterprise
GP, TEPPCO, TEPPCO GP, ETE, ETE GP, ETP, EPE Holdings or any of their respective subsidiaries, and
(v) that, except as other Persons may expressly assume or guarantee any of the Loan Documents or
obligations thereunder, the Lenders shall look solely to the Borrower and its property and assets,
and any property pledged as collateral with respect to the Loan Documents, for the repayment of any
amounts payable pursuant to the Loan Documents and for satisfaction of any obligations owing to the
Lenders under the Loan Documents and that none of TEPPCO, TEPPCO GP, ETE, ETE GP, ETP, EPE
Holdings, Enterprise, Enterprise GP or any of their respective subsidiaries is personally liable to
the Lenders for any amounts payable, or any liability, under the Loan Documents.

     Section 9.16 USA Patriot Act Notice. Each Lender hereby notifies the Borrower that
pursuant to the requirements of the USA Patriot Act (Title III of Pub. L. 107-56) signed into law
October 26, 2001 (the “USA Patriot Act”), it is required to obtain, verify and record information
that identifies the Borrower, which information includes the name and address of the Borrower and
other information that will allow such Lender to identify the Borrower in accordance with the USA
Patriot Act.

[Signature pages follow.]

-61-

 

     IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed by their
respective authorized officers as of the day and year first above written.

	 	 	 	 	 	 	 
	 	 	ENTERPRISE GP HOLDINGS L.P.,

a Delaware limited partnership	 	 
	 
	 	 	 	 	 	 
	 	 	By: EPE Holdings, LLC,

a Delaware limited liability company,

its general partner	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ W. Randall Fowler	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	W. Randall Fowler	 	 
	 

	 	Title:
	 	Senior Vice President and Chief Financial Officer	 	 

 

 

	 	 	 	 	 	 	 
	 	 	CITICORP NORTH AMERICA, INC.,

as Administrative Agent and as a Lender and an Equity
Bridge Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 /s/ J. Christopher Lyons	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 J. Christopher Lyons	 	 
	 

	 	Title:	 	 Director	 	 

 

 

	 	 	 	 	 	 	 
	 	 	CITIBANK, N.A., as

Issuing Bank	 	 
	 
	 	 	 	 	 	 
	 

	 	By:	 	 /s/ J. Christopher Lyons	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:	 	 J. Christopher Lyons	 	 
	 

	 	Title:	 	 Director	 	 

 

 

	 	 	 	 	 	 	 
	 	 	LEHMAN COMMERCIAL PAPER INC.,

as Syndication Agent and as a Lender and an Equity
Bridge Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Laurie Perper	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Laurie Perper	 	 
	 

	 	Title:
	 	Senior Vice President	 	 

 

 

	 	 	 	 	 	 	 
	 	 	THE BANK OF NOVA SCOTIA,

as Co-Documentation Agent and as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Andrew Ostrov	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Andrew Ostrov	 	 
	 

	 	Title:
	 	Director	 	 

 

 

	 	 	 	 	 	 	 
	 	 	SUNTRUST BANK,

as Co-Documentation Agent and as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Peter Panos	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Peter Panos	 	 
	 

	 	Title:
	 	Vice President	 	 

 

 

	 	 	 	 	 	 	 
	 	 	MIZUHO CORPORATE BANK, LTD.,

as Co-Documentation Agent and as a Lender	 	 
	 
	 	 	 	 	 	 
	 

	 	By:
	 	/s/ Leon Mo	 	 
	 

	 	 	 	 	 	 
	 

	 	Name:
	 	Leon Mo	 	 
	 

	 	Title:
	 	Senior Vice President	 	 

 

 

SCHEDULE 2.01

COMMITMENTS

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	Revolving Credit	 	 	Term Commitment	 	 	Term Commitment	 
	Lender	 	Commitment	 	 	(Debt Bridge)	 	 	(Equity Bridge)	 
	 
	Citicorp North America, Inc.
	 	 	57,142,857.14	 	 	 	342,857,142.86	 	 	 	250,000,000	 
	Lehman Commercial Paper Inc.
	 	 	57,142,857.15	 	 	 	342,857,142.85	 	 	 	250,000,000	 
	The Bank of Nova Scotia
	 	 	28,571,428.57	 	 	 	171,428,571.43	 	 	 	0	 
	SunTrust Bank
	 	 	28,571,428.57	 	 	 	171,428,571.43	 	 	 	0	 
	Mizuho Corporate Bank, Ltd.
	 	 	28,571,428.57	 	 	 	171,428,571.43	 	 	 	0	 
	 
	 
	 	 	 	 	 	 	 	 	 
	TOTAL
	 	$	200,000,000	 	 	$	1,200,000,000	 	 	$	500,000,000	 

 

 

SCHEDULE 3.06

DISCLOSED MATTERS

None.

 

 

SCHEDULE 3.12

SUBSIDIARIES

I. Subsidiaries

Enterprise Products GP, LLC

II. Ownership of Enterprise

	 	 	 	 	 	 
	 
	 	 	 	 	Ownership*	 
	 	Enterprise Products Partners L.P.
	 	 	DFI Delaware Holdings L.P. -- 27.18%	 
	 	 
	 	 	Duncan Family 2000 Trust -- 1.53%	 
	 	 
	 	 	Duncan Family 1998 Trust -- 1.34%	 
	 	 
	 	 	Enterprise GP Holdings L.P. -- 3.05%	 
	 	 
	 	 	Dan Duncan (personally) -- 0.21%	 
	 	 
	 	 	Public Unit holders -- 64.69%	 
	 	 
	 	 	Enterprise Products GP, LLC -- 2.00%	 
	 

* The ownership values in this column reflect such values as of March 31, 2007

 

 

SCHEDULE 6.02

PERMITTED LIENS

None.

 

 

SCHEDULE 6.06

RESTRICTIVE AGREEMENTS

     1. Section 6.05 of the Credit Agreement dated as of August 25, 2004 (as amended, the
“Multi-Year Agreement”), among Enterprise Products Operating L.P., Wachovia Bank, National
Association, as Administrative Agent, Issuing Bank and Swingline Lender, the Lenders party thereto,
Citibank, N.A. and JPMorgan Chase Bank, as Co-Syndication Agents for such Lenders, and Mizuho
Corporate Bank, Ltd., SunTrust Bank and The Bank of Nova Scotia, as Co-Documentation Agents for
such Lenders, provides that (capitalized terms not defined herein shall have the meanings assigned
to such terms in the Multi-Year Agreement):

The Borrower [Enterprise Products Operating L.P.] will not, and will not permit any
of its Subsidiaries (other than Project Finance Subsidiaries) to, declare or make,
or agree to pay or make, directly or indirectly, any Restricted Payment, except as
long as no Event of Default has occurred and is continuing or would result
therefrom, (i) the Borrower and the Subsidiaries may make Restricted Payments
necessary to fund the Program, (ii) the Borrower may make Restricted Payments from
Available Cash (as defined in the Partnership Agreement) from Operating Surplus (as
defined in the Partnership Agreement) cumulative from January 1, 1999 through the
date of such Restricted Payment, (iii) in connection with the consummation of the
GulfTerra Merger Transactions, the Borrower may distribute its 50% membership
interest in GT Energy Company LLC and its 10.9 million Series C units and 2.9
million common units in GT Energy Partners, L.P. to the Limited Partner, (iv) any
Subsidiary may buy back any of its own Equity Interests, and (v) the Borrower and
its Subsidiaries may make payments or other distributions to officers, directors or
employees with respect to the exercise by any such Persons of options, warrants or
other rights to acquire Equity Interests in the Borrower or such Subsidiary issued
pursuant to an employment, equity award, equity option or equity appreciation
agreement or plans entered into by the Borrower or such Subsidiary in the ordinary
course of business; provided, that even if an Event of Default shall have occurred
and is continuing, no Subsidiary shall be prohibited from upstreaming dividends or
other payments to the Borrower or any Subsidiary (which is not a Project Finance
Subsidiary) or making, in the case of any Subsidiary that is not wholly-owned
(directly or indirectly) by the Borrower, ratable dividends or payments, as the case
may be, to the other owners of Equity Interests in such Subsidiary.

     2. Section 6.05 of the Credit Agreement dated as of May 1, 2007 (the “EPCO Holdings
Agreement”), among EPCO Holdings, Inc., the Lenders party thereto, Citicorp North America, Inc., as
Administrative Agent, provides that (capitalized terms not defined herein shall have the meanings
assigned to such terms in the EPCO Holdings Agreement):

The Borrower [EPCO Holdings, Inc.] will not, and will not permit any of its
Subsidiaries to, declare or make, or agree to pay or make, directly or indirectly,
any Restricted Payment, except as long as no Event of Default has occurred and is
continuing or would result therefrom and no Default of the nature described in

 

 

ARTICLE VII(a), (b), (h), or (k) has occurred and is continuing or would result
therefrom, the Borrower may declare and make, and agree to pay and make, Restricted
Payments that do not (i) with respect to any Restricted Payments made on or after
the Effective Date and prior to the date that the certificate pursuant to
Section 5.01(c) for the quarter ended June 30, 2007 is delivered, exceed
Twenty-Five Million and No/100 Dollars ($25,000,000) in the aggregate (and,
notwithstanding anything in this Agreement to the contrary, no Intermediate Excess
Cash Flow Payments will be required in connection with any Restricted Payments made
during such period), and (ii) with respect to any Restricted Payments made on or
after the date that the certificate pursuant to Section 5.01(c) for the
quarter ended June 30, 2007 is delivered, exceed the Excess Distributable Amount at
the time such Restricted Payments are made.

 

 

EXHIBIT A

FORM OF

ASSIGNMENT AND ACCEPTANCE

     Reference is made to the Second Amended and Restated Credit Agreement dated as of May 1, 2007
(as amended and in effect on the date hereof, the “Credit Agreement”), among Enterprise GP Holdings
L.P., the Lenders named therein, Citicorp North America, Inc, as Administrative Agent and Citibank,
N.A, as Issuing Bank. Terms defined in the Credit Agreement are used herein with the same
meanings.

     The Assignor named herein hereby sells and assigns, without recourse, to the Assignee named
herein, and the Assignee hereby purchases and assumes, without recourse, from the Assignor,
effective as of the Assignment Date set forth herein the interests set forth herein (the “Assigned
Interest”) in the Assignor’s rights and obligations under the Credit Agreement, including, without
limitation, the interests set forth herein in the Commitment(s) of the Assignor on the Assignment
Date and Loans owing to the Assignor which are outstanding on the Assignment Date, together with
the participations in Letters of Credit and LC Disbursements held by the Assignor on the Assignment
Date, but excluding accrued interest and fees to and excluding the Assignment Date. The Assignee
hereby acknowledges receipt of a copy of the Credit Agreement. From and after the Assignment Date
(i) the Assignee shall be a party to and be bound by the provisions of the Credit Agreement and, to
the extent of the Assigned Interest, have the rights and obligations of a Lender thereunder and
(ii) the Assignor shall, to the extent of the Assigned Interest, relinquish its rights and be
released from its obligations under the Credit Agreement.

     This Assignment and Acceptance is being delivered to the Administrative Agent together with
(i) if the Assignee is a Foreign Lender, any documentation required to be delivered by the Assignee
pursuant to Section 2.17(e) of the Credit Agreement, duly completed and executed by the
Assignee, and (ii) if the Assignee is not already a Lender under the Credit Agreement, an
Administrative Questionnaire in the form supplied by the Administrative Agent, duly completed by
the Assignee. The [Assignee/Assignor] shall pay the fee payable to the Administrative Agent
pursuant to Section 9.04(b) of the Credit Agreement.

     This Assignment and Acceptance shall be governed by and construed in accordance with the laws
of the State of New York.

Date of Assignment:

Legal Name of Assignor:

Legal Name of Assignee:

Assignee’s Address for Notices:

Effective Date of Assignment (“Assignment Date”):

 

 

	 	 	 	 	 	 	 	 	 
	 	Facility

	 	 	Principal Amount Assigned
	 	 	Percentage Assigned
of Facility/Commitment(s)
(set
forth, for each
assigned Commitment,
to at least 8
decimals, as a
percentage of the
aggregate
Commitments of the
relevant Class)	 
	 	 
	 	 	 	 	 	 	 
	 	Commitment(s)
	 	 	 	 	 	 	 
	 	Assigned:
	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 
	 	Loans:
	 	 	 	 	 	 	 
	 	 
	 	 	 	 	 	 	 
	 

     The terms set forth above are hereby agreed to:

	 	 	 	 	 
	 	[Name of Assignor] , as Assignor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[Name of Assignee] , as Assignee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

     The undersigned hereby consent to the within assignment:

	 	 	 	 	 
	ENTERPRISE GP HOLDINGS L.P.,

a Delaware limited partnership

 	 	 
	By:  	EPE Holdings, LLC,
 	 	 
	 	a Delaware limited liability company 	 	 
	 

	 	 	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 

	 	 	 	 	 
	CITICORP NORTH AMERICA, INC.,

as Administrative Agent

 	 	 
	By:  	 	 	 
	 	Name:  	 	 	 
	 	Title:  	 	 	 
	 

 

 

EXHIBIT B

FORM OF BORROWING REQUEST

Dated                     , 200    

Citicorp North America, Inc.,

as Administrative Agent

2 Penns Way, Suite 200

New Castle, Delaware 19720

Attn: Enterprise GP Holdings L.P. Account Officer

Ladies and Gentlemen:

     This Borrowing Request is delivered to you by Enterprise GP Holdings L.P., a Delaware limited
partnership (the “Borrower”), under Section 2.03 of the Second Amended and Restated Credit
Agreement dated as of May 1, 2007 (as further restated, amended, modified, supplemented and in
effect, the “Credit Agreement”), by and among the Borrower, the Lenders party thereto, Citicorp
North America, Inc., as Administrative Agent, and Citibank, N.A., as Issuing Bank.

     1. The Borrower hereby requests that the Lenders make a Loan or Loans in the aggregate
principal amount of $                     (the “Loan” or the “Loans).1 The Class of the Loan
or Loans is                     .

     2. The Borrower hereby requests that the Loan or Loans be made on                     , 200    :

     3. The Borrower hereby requests that the Loan or Loans bear interest at the following interest
rate, plus the Applicable Rate, as set forth below:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	Last day of	 
	 	 	 	 	 	 	 	 	 	 	Interest	 	 	Interest	 
	 	 	 	 	Principal	 	 	 	 	 	Period (if	 	 	Period (if	 
	 	Type of Loan	 	 	Amount	 	 	Interest Rate	 	 	applicable)	 	 	applicable)	 
	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 

	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

     4. The Borrower hereby requests that the funds from the Loan or Loans be disbursed to the
following bank account:                               .

 

			
	1	 	Complete with an amount in accordance with Section 2.03 of the Credit Agreement.

 

 

     5. After giving effect to the requested Loan or Loans, the amounts of the various “Loans” (as
defined in the Credit Agreement) outstanding do not exceed the respective maximum amounts permitted
to be outstanding pursuant to the terms of the Credit Agreement.

     6. All of the conditions applicable to the Loan or Loans requested herein as set forth in the
Credit Agreement will be satisfied on or before the date of such Loan or Loans, but if such
conditions are not satisfied by such date and as a result the Loan or Loans are not funded as
requested herein, the Borrower confirms its obligation to compensate the Lenders for breakage costs
pursuant to Section 2.16 of the Credit Agreement.

     7. All capitalized undefined terms used herein have the meanings assigned thereto in the
Credit Agreement.

     IN WITNESS WHEREOF, the undersigned have executed this Borrowing Request this                      day of
                              , 200    .

	 	 	 	 	 
	 	ENTERPRISE GP HOLDINGS L.P.,
a Delaware limited partnership

 	 
	 	By:  	EPE Holdings, LLC,
 	 
	 	 	a Delaware limited liability company, 	 
	 	 	its general partner 	 

	 	 	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 
	cc:

	 	Citicorp North America, Inc.
	 

	 	333 Clay Street, Suite 3700
	 

	 	Houston, Texas 77002
	 

	 	Attn: Enterprise GP Holdings L.P. Account Officer

 

 

EXHIBIT C

FORM OF

INTEREST ELECTION REQUEST

Dated                     

Citicorp North America, Inc.,

as Administrative Agent

2 Penns Way, Suite 200

New Castle, Delaware 19720

Attn: Enterprise GP Holdings L.P. Account Officer

Ladies and Gentlemen:

     This irrevocable Interest Election Request (the “Request”) is delivered to you under
Section 2.08 of the Second Amended and Restated Credit Agreement dated as of May 1, 2007
(as further restated, amended, modified, supplemented and in effect from time to time, the “Credit
Agreement”), by and among Enterprise GP Holdings L.P., a Delaware limited partnership (the
“Company”), the Lenders party thereto (the “Lenders”), Citicorp North America, Inc., as
Administrative Agent, and Citibank, N.A., as Issuing Bank.

     1. This Interest Election Request is submitted for the purpose of:

     (a) [Converting] [Continuing] a                      Loan [into] [as] a                     
Loan.1

     (b) The aggregate outstanding principal balance of such Loan is $                    .

     (c) The last day of the current Interest Period for such Loan is
                    .2

     (d) The principal amount of such Loan to be [converted] [continued] is
$                    .3

     (e) The requested effective date of the [conversion] [continuation] of such Loan is
                    .4

     (f) The requested Interest Period applicable to the [converted] [continued] Loan is
                              .5

 

			
	1	 	Delete the bracketed language and insert “Alternate Base Rate” or “LIBO Rate”, as applicable, in
each blank.
	 
	2	 	Insert applicable date for any Eurodollar Loan being converted or continued.
	 
	3	 	Complete with an amount in compliance with Section 2.08 of the Credit Agreement.
	 
	4	 	Complete with a Business Day in compliance with Section 2.08 of the Credit Agreement.
	 
	5	 	Complete with an Interest Period in compliance with the Credit Agreement.

 

 

     2. With respect to a Borrowing to be converted to or continued as a Eurodollar Borrowing, no
Event of Default exists, and none will exist upon the conversion or continuation of the Borrowing
requested herein.

     3. All capitalized undefined terms used herein have the meanings assigned thereto in the
Credit Agreement.

     IN WITNESS WHEREOF, the undersigned has executed this Interest Election Request this ___day
of                               ,           .

	 	 	 	 	 
	 	ENTERPRISE GP HOLDINGS L.P.,

a Delaware limited partnership

 	 
	 	By:  	EPE Holdings, LLC,
 	 
	 	 	a Delaware limited liability company, 	 
	 	 	its general partner 	 

	 	 	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

	 	 	 
	cc:

	 	Citicorp North America, Inc.
	 

	 	333 Clay Street, Suite 3700
	 

	 	Houston, Texas 77002
	 

	 	Attn: Enterprise GP Holdings L.P. Account Officer

 

 

EXHIBIT D

[Reserved]

 

 

EXHIBIT E

FORM OF COMPLIANCE CERTIFICATE

     The undersigned hereby certifies that he is the                                          of Enterprise GP
Holdings L.P., a Delaware limited partnership (the “Borrower”), and that as such he is authorized
to execute this certificate on behalf of the Borrower. With reference to the Second Amended and
Restated Credit Agreement dated as of May 1, 2007 (as further restated, amended, modified,
supplemented and in effect from time to time, the “Agreement”), among the Borrower, the lenders
that are or become a party thereto (the “Lenders”), Citicorp North America, Inc. as Administrative
Agent, and Citibank, N.A. as Issuing Bank, the undersigned represents and warrants as follows (each
capitalized term used herein having the same meaning given to it in the Agreement unless otherwise
specified);

     (a) [There currently does not exist any Default under the Agreement.] [Attached hereto is a
schedule specifying the reasonable details of [a] certain Default[s] which exist under the
Agreement and the action taken or proposed to be taken with respect thereto.]

     (b) Attached hereto are the reasonably detailed computations necessary to determine whether
the Borrower is in compliance with Section 6.07 of the Agreement as of the end of the
[fiscal quarter][fiscal year] ending                     .

     (c) Attached hereto are the reasonably detailed computations which demonstrate cumulative
Excess Distributable Amount through the fiscal quarter ending                     .

     EXECUTED AND DELIVERED this       day of                     , 200.

	 	 	 	 	 
	 	ENTERPRISE GP HOLDINGS L.P.,

a Delaware limited partnership

 	 
	 	By:  	EPE Holdings, LLC,
 	 
	 	 	a Delaware limited liability company, 	 
	 	 	its general partner 	 

	 	 	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

EXHIBIT F-1

FORM OF REVOLVING CREDIT NOTE

	 	 	 
	$                    

	 	                    , 200     

     Enterprise GP Holdings L.P., a Delaware limited partnership (the “Borrower”), for value
received, promises and agrees to pay to                                (the “Lender”), or to its order, at
the payment office of Citicorp North America, Inc., as Administrative Agent, at
[                              ], the principal sum of                                AND NO/100 DOLLARS
($                              ), or such lesser amount as shall equal the aggregate unpaid principal amount of the
Revolving Credit Loans owed to the Lender under the Credit Agreement, as hereafter defined, in
lawful money of the United States of America and in immediately available funds, on the dates and
in the principal amounts provided in the Credit Agreement, and to pay interest on the unpaid
principal amount as provided in the Credit Agreement for such Revolving Credit Loans, at such
office, in like money and funds, for the period commencing on the date of each such Revolving
Credit Loan until such Revolving Credit Loan shall be paid in full, at the rates per annum and on
the dates provided in the Credit Agreement.

     This note evidences the Revolving Credit Loans owed to the Lender under that certain Second
Amended and Restated Credit Agreement dated as of May 1, 2007, by and among the Borrower, Citicorp
North America, Inc., individually and as Administrative Agent, Citibank, N.A., as Issuing Bank and
the other financial institutions parties thereto (including the Lender) (such Second Amended and
Restated Credit Agreement, together with all amendments or supplements thereto, being the “Credit
Agreement”), and shall be governed by the Credit Agreement. Capitalized terms used in this note
and not defined in this note, but which are defined in the Credit Agreement, have the respective
meanings herein as are assigned to them in the Credit Agreement.

     The Lender is hereby authorized by the Borrower to endorse on Schedule A (or a
continuation thereof) attached to this note, the Type of each Revolving Credit Loan owed to the
Lender, the amount and date of each payment or prepayment of principal of each such Revolving
Credit Loan received by the Lender and the Interest Periods and interest rates applicable to each
Revolving Credit Loan, provided that any failure by the Lender to make any such endorsement shall
not affect the obligations of the Borrower under the Credit Agreement or under this note in respect
of such Revolving Credit Loans.

     This note may be held by the Lender for the account of its applicable lending office and,
except as otherwise provided in the Credit Agreement, may be transferred from one lending office of
the Lender to another lending office of the Lender from time to time as the Lender may determine.

     Except only for any notices which are specifically required by the Credit Agreement or the
other Loan Documents, the Borrower and any and all co-makers, endorsers, guarantors and sureties
severally waive notice (including but not limited to notice of intent to accelerate and notice of
acceleration, notice of protest and notice of dishonor), demand, presentment for

 

 

payment, protest, diligence in collecting and the filing of suit for the purpose of fixing
liability, and consent that the time of payment hereof may be extended and re-extended from time to
time without notice to any of them. Each such Person agrees that his, her or its liability on or
with respect to this note shall not be affected by any release of or change in any guaranty or
security at any time existing or by any failure to perfect or maintain perfection of any lien
against or security interest in any such security or the partial or complete unenforceability of
any guaranty or other surety obligation, in each case in whole or in part, with or without notice
and before or after maturity.

     The Credit Agreement provides for the acceleration of the maturity of this note upon the
occurrence of certain events and for prepayment of Revolving Credit Loans upon the terms and
conditions specified therein. Reference is made to the Credit Agreement for all other pertinent
purposes.

     This note is issued pursuant to and is entitled to the benefits of the Credit Agreement and is
secured by the Security Instruments.

     THIS NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW
YORK AND THE UNITED STATES OF AMERICA FROM TIME TO TIME IN EFFECT.

	 	 	 	 	 
	 	ENTERPRISE GP HOLDINGS L.P.,

a Delaware limited partnership

 	 
	 	By:  	EPE Holdings, LLC,
 	 
	 	 	a Delaware limited liability company, 	 
	 	 	its general partner 	 

	 	 	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

SCHEDULE A

TO

REVOLVING CREDIT NOTE

     This note evidences each Revolving Credit Loan owed to the Lender under the Credit Agreement,
in the principal amount set forth below and the applicable Interest Periods and rates for each such
Revolving Credit Loan, subject to the payments of principal set forth below:

SCHEDULE

OF

REVOLVING CREDIT LOANS AND PAYMENTS OF PRINCIPAL AND INTEREST

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Amount	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	of	 	 	 	 	 	 
	 	 	 	 	 	 	Principal	 	Interest	 	 	 	 	 	 
	 	 	Interest	 	 	 	Amount of	 	Paid or	 	Interest	 	Balance	 	Notation
	Date	 	Period	 	Rate	 	Loan	 	Prepaid	 	Paid	 	of Loans	 	Made by
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

 

 

EXHIBIT F-2

FORM OF TERM NOTE (DEBT BRIDGE)

	 	 	 
	$                    

	 	                    , 200     

     Enterprise GP Holdings L.P., a Delaware limited partnership (the “Borrower”), for value
received, promises and agrees to pay to                                (the “Lender”), or to its order, at
the payment office of Citicorp North America, Inc., as Administrative Agent, at
[                              ], the principal sum of                                AND NO/100 DOLLARS
($                    ), or such lesser amount as shall equal the aggregate unpaid principal amount of the
Term Loans (Debt Bridge) owed to the Lender under the Credit Agreement, as hereafter defined, in
lawful money of the United States of America and in immediately available funds, on the dates and
in the principal amounts provided in the Credit Agreement, and to pay interest on the unpaid
principal amount as provided in the Credit Agreement for such Term Loans (Debt Bridge), at such
office, in like money and funds, for the period commencing on the date of each such Term Loan (Debt
Bridge) until such Term Loan (Debt Bridge) shall be paid in full, at the rates per annum and on the
dates provided in the Credit Agreement.

     This note evidences the Term Loans (Debt Bridge) owed to the Lender under that certain Second
Amended and Restated Credit Agreement dated as of May 1, 2007, by and among the Borrower, Citicorp
North America, Inc., individually and as Administrative Agent, Citibank, N.A., as Issuing Bank and
the other financial institutions parties thereto (including the Lender) (such Second Amended and
Restated Credit Agreement, together with all amendments or supplements thereto, being the “Credit
Agreement”), and shall be governed by the Credit Agreement. Capitalized terms used in this note
and not defined in this note, but which are defined in the Credit Agreement, have the respective
meanings herein as are assigned to them in the Credit Agreement.

     The Lender is hereby authorized by the Borrower to endorse on Schedule A (or a
continuation thereof) attached to this note, the Type of each Term Loan (Debt Bridge) owed to the
Lender, the amount and date of each payment or prepayment of principal of each such Term Loan (Debt
Bridge) received by the Lender and the Interest Periods and interest rates applicable to each Term
Loan (Debt Bridge), provided that any failure by the Lender to make any such endorsement shall not
affect the obligations of the Borrower under the Credit Agreement or under this note in respect of
such Term Loans (Debt Bridge).

     This note may be held by the Lender for the account of its applicable lending office and,
except as otherwise provided in the Credit Agreement, may be transferred from one lending office of
the Lender to another lending office of the Lender from time to time as the Lender may determine.

     Except only for any notices which are specifically required by the Credit Agreement or the
other Loan Documents, the Borrower and any and all co-makers, endorsers, guarantors and sureties
severally waive notice (including but not limited to notice of intent to accelerate and notice of
acceleration, notice of protest and notice of dishonor), demand, presentment for

 

 

payment, protest, diligence in collecting and the filing of suit for the purpose of fixing
liability, and consent that the time of payment hereof may be extended and re-extended from time to
time without notice to any of them. Each such Person agrees that his, her or its liability on or
with respect to this note shall not be affected by any release of or change in any guaranty or
security at any time existing or by any failure to perfect or maintain perfection of any lien
against or security interest in any such security or the partial or complete unenforceability of
any guaranty or other surety obligation, in each case in whole or in part, with or without notice
and before or after maturity.

     The Credit Agreement provides for the acceleration of the maturity of this note upon the
occurrence of certain events and for prepayment of Term Loans (Debt Bridge) upon the terms and
conditions specified therein. Reference is made to the Credit Agreement for all other pertinent
purposes.

     This note is issued pursuant to and is entitled to the benefits of the Credit Agreement and is
secured by the Security Instruments.

     THIS NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW
YORK AND THE UNITED STATES OF AMERICA FROM TIME TO TIME IN EFFECT.

	 	 	 	 	 
	 	ENTERPRISE GP HOLDINGS L.P.,

a Delaware limited partnership

 	 
	 	By:  	EPE Holdings, LLC,
 	 
	 	 	a Delaware limited liability company, 	 
	 	 	its general partner 	 

	 	 	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

SCHEDULE A

TO

TERM NOTE (DEBT BRIDGE)

     This note evidences each Term Loan (Debt Bridge) owed to the Lender under the Credit
Agreement, in the principal amount set forth below and the applicable Interest Periods and rates
for each such Term Loan (Debt Bridge), subject to the payments of principal set forth below:

SCHEDULE

OF

TERM LOANS (DEBT BRIDGE) AND PAYMENTS OF PRINCIPAL AND INTEREST

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Amount	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	of	 	 	 	 	 	 
	 	 	 	 	 	 	Principal	 	Interest	 	 	 	 	 	 
	 	 	Interest	 	 	 	Amount of	 	Paid or	 	Interest	 	Balance	 	Notation
	Date	 	Period	 	Rate	 	Loan	 	Prepaid	 	Paid	 	of Loans	 	Made by
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

 

 

EXHIBIT F-3

FORM OF TERM NOTE (EQUITY BRIDGE)

	 	 	 
	$                    

	 	                    , 200     

     Enterprise GP Holdings L.P., a Delaware limited partnership (the “Borrower”), for value
received, promises and agrees to pay to                                (the “Lender”), or to its order, at
the payment office of Citicorp North America, Inc., as Administrative Agent, at
[                              ], the principal sum of                                AND NO/100 DOLLARS
($                    ), or such lesser amount as shall equal the aggregate unpaid principal amount of the
Term Loans (Equity Bridge) owed to the Lender under the Credit Agreement, as hereafter defined, in
lawful money of the United States of America and in immediately available funds, on the dates and
in the principal amounts provided in the Credit Agreement, and to pay interest on the unpaid
principal amount as provided in the Credit Agreement for such Term Loans (Equity Bridge), at such
office, in like money and funds, for the period commencing on the date of each such Term Loan
(Equity Bridge) until such Term Loan (Equity Bridge) shall be paid in full, at the rates per annum
and on the dates provided in the Credit Agreement.

     This note evidences the Term Loans (Equity Bridge) owed to the Lender under that certain
Second Amended and Restated Credit Agreement dated as of May 1, 2007, by and among the Borrower,
Citicorp North America, Inc., individually and as Administrative Agent, Citibank, N.A., as Issuing
Bank and the other financial institutions parties thereto (including the Lender) (such Second
Amended and Restated Credit Agreement, together with all amendments or supplements thereto, being
the “Credit Agreement”), and shall be governed by the Credit Agreement. Capitalized terms used in
this note and not defined in this note, but which are defined in the Credit Agreement, have the
respective meanings herein as are assigned to them in the Credit Agreement.

     The Lender is hereby authorized by the Borrower to endorse on Schedule A (or a
continuation thereof) attached to this note, the Type of each Term Loan (Equity Bridge) owed to the
Lender, the amount and date of each payment or prepayment of principal of each such Term Loan
(Equity Bridge) received by the Lender and the Interest Periods and interest rates applicable to
each Term Loan (Equity Bridge), provided that any failure by the Lender to make any such
endorsement shall not affect the obligations of the Borrower under the Credit Agreement or under
this note in respect of such Term Loans (Equity Bridge).

     This note may be held by the Lender for the account of its applicable lending office and,
except as otherwise provided in the Credit Agreement, may be transferred from one lending office of
the Lender to another lending office of the Lender from time to time as the Lender may determine.

     Except only for any notices which are specifically required by the Credit Agreement or the
other Loan Documents, the Borrower and any and all co-makers, endorsers, guarantors and sureties
severally waive notice (including but not limited to notice of intent to accelerate and notice of
acceleration, notice of protest and notice of dishonor), demand, presentment for

 

 

payment, protest, diligence in collecting and the filing of suit for the purpose of fixing
liability, and consent that the time of payment hereof may be extended and re-extended from time to
time without notice to any of them. Each such Person agrees that his, her or its liability on or
with respect to this note shall not be affected by any release of or change in any guaranty or
security at any time existing or by any failure to perfect or maintain perfection of any lien
against or security interest in any such security or the partial or complete unenforceability of
any guaranty or other surety obligation, in each case in whole or in part, with or without notice
and before or after maturity.

     The Credit Agreement provides for the acceleration of the maturity of this note upon the
occurrence of certain events and for prepayment of Term Loans (Equity Bridge) upon the terms and
conditions specified therein. Reference is made to the Credit Agreement for all other pertinent
purposes.

     This note is issued pursuant to and is entitled to the benefits of the Credit Agreement and is
secured by the Security Instruments.

     THIS NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW
YORK AND THE UNITED STATES OF AMERICA FROM TIME TO TIME IN EFFECT.

	 	 	 	 	 
	 	ENTERPRISE GP HOLDINGS L.P.,

a Delaware limited partnership

 	 
	 	By:  	EPE Holdings, LLC,
 	 
	 	 	a Delaware limited liability company, 	 
	 	 	its general partner 	 

	 	 	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

 

SCHEDULE A

TO

TERM NOTE (EQUITY BRIDGE)

     This note evidences each Term Loan (Equity Bridge) owed to the Lender under the Credit
Agreement, in the principal amount set forth below and the applicable Interest Periods and rates
for each such Term Loan (Equity Bridge), subject to the payments of principal set forth below:

SCHEDULE

OF

\ TERM LOANS (EQUITY BRIDGE) AND PAYMENTS OF PRINCIPAL AND INTEREST

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	Amount	 	 	 	 	 	 
	 	 	 	 	 	 	 	 	of	 	 	 	 	 	 
	 	 	 	 	 	 	Principal	 	Interest	 	 	 	 	 	 
	 	 	Interest	 	 	 	Amount of	 	Paid or	 	Interest	 	Balance	 	Notation
	Date	 	Period	 	Rate	 	Loan	 	Prepaid	 	Paid	 	of Loans	 	Made by
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 

	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 

	 	 
	 	 
	 	 
	 	 
	 	 
	 	 
	 	 

 

 

EXHIBIT G

LIST OF SECURITY INSTRUMENTS

	1.	 	Second Amended and Restated Pledge and Security Agreement (EPD) by Borrower of
13,454,498 uncertificated Enterprise Products Partners L.P. common units.
	 
	2.	 	Second Amended and Restated Pledge and Security Agreement (EPD GP) by Borrower of 100%
uncertificated membership interest in Enterprise Products GP, LLC.
	 
	3.	 	Pledge and Security Agreement (ETE) by Borrower of 38,976,090 Energy Transfer Equity,
L.P. certificated common units.
	 
	4.	 	Pledge and Security Agreement (TEPPCO) by Borrower of 4,400,000 units of TEPPCO
certificated common units.
	 
	5.	 	Pledge and Security Agreement (TEPPCO GP) by Borrower of 100% uncertificated membership
interest in Texas Eastern Products Pipeline Company, LLC.exv10w6

 

Exhibit
10.6

Execution Copy

AGREEMENT OF LIMITED PARTNERSHIP

OF

EPE UNIT III, L.P.

Dated as of

May 7, 2007

 

 

TABLE OF CONTENTS

	 	 	 	 	 	 	 	 	 
	ARTICLE I

	DEFINITIONS

	 
	 	 	 	 	 	 	 	 
	1.01 Certain Definitions
	 	 	1	 	 	 	 	 
	1.02 Other Definitions
	 	 	6	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE II

	ORGANIZATIONAL MATTERS

	 
	 	 	 	 	 	 	 	 
	2.01 Formation
	 	 	6	 	 	 	 	 
	2.02 Name
	 	 	6	 	 	 	 	 
	2.03 Registered Office; Registered Agent; Other Offices
	 	 	6	 	 	 	 	 
	2.04 Purposes
	 	 	6	 	 	 	 	 
	2.05 Certificate; Foreign Qualification
	 	 	6	 	 	 	 	 
	2.06 Term
	 	 	7	 	 	 	 	 
	2.07 Merger or Consolidation
	 	 	7	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE III

	PARTNERS; DISPOSITIONS OF INTERESTS

	 
	 	 	 	 	 	 	 	 
	3.01 Partners
	 	 	7	 	 	 	 	 
	3.02 Representations and Warranties
	 	 	7	 	 	 	 	 
	3.03 Restrictions on the Disposition of an Interest
	 	 	7	 	 	 	 	 
	3.04 Additional Partners
	 	 	9	 	 	 	 	 
	3.05 Interests in a Partner
	 	 	9	 	 	 	 	 
	3.06 Spouses of Partners
	 	 	9	 	 	 	 	 
	3.07 Vesting of Limited Partners
	 	 	9	 	 	 	 	 
	3.08 Services Provided by the Partners
	 	 	10	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE IV

	CAPITAL CONTRIBUTIONS

	 
	 	 	 	 	 	 	 	 
	4.01 Initial and Additional Capital Contributions
	 	 	10	 	 	 	 	 
	4.02 Return of Contributions
	 	 	10	 	 	 	 	 
	4.03 Advances by General Partner
	 	 	11	 	 	 	 	 
	4.04 Capital Accounts
	 	 	11	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE V

	ALLOCATIONS AND DISTRIBUTIONS

	 
	 	 	 	 	 	 	 	 
	5.01 Allocations
	 	 	11	 	 	 	 	 
	5.02 Income Tax Allocations
	 	 	14	 	 	 	 	 
	5.03 Distributions of Cashflow from EPE Units
	 	 	14	 	 	 	 	 
	5.04 Distributions of Proceeds from Sales of EPE Units
	 	 	15	 	 	 	 	 
	5.05 Restrictions on Distributions of EPE Units
	 	 	15	 	 	 	 	 

- i -

 

	 	 	 	 	 	 	 	 	 
	ARTICLE VI

	MANAGEMENT AND OPERATION

	 
	 	 	 	 	 	 	 	 
	6.01 Management of Partnership Affairs
	 	 	15	 	 	 	 	 
	6.02 Duties and Obligations of General Partner
	 	 	16	 	 	 	 	 
	6.03 Release and Indemnification
	 	 	16	 	 	 	 	 
	6.04 Power of Attorney
	 	 	17	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE VII

	RIGHTS OF OTHER PARTNERS

	 
	 	 	 	 	 	 	 	 
	7.01 Information
	 	 	18	 	 	 	 	 
	7.02 Limitations
	 	 	19	 	 	 	 	 
	7.03 Limited Liability
	 	 	19	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE VIII

	TAXES

	 
	 	 	 	 	 	 	 	 
	8.01 Tax Returns
	 	 	19	 	 	 	 	 
	8.02 Tax Elections
	 	 	19	 	 	 	 	 
	8.03 Tax Matters Partner
	 	 	20	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE IX

	BOOKS, RECORDS, REPORTS, AND BANK ACCOUNTS

	 
	 	 	 	 	 	 	 	 
	9.01 Maintenance of Books
	 	 	20	 	 	 	 	 
	9.02 Financial Statements
	 	 	20	 	 	 	 	 
	9.03 Bank Accounts
	 	 	20	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE X

	WITHDRAWAL, BANKRUPTCY, REMOVAL, ETC.

	 
	 	 	 	 	 	 	 	 
	10.01 Withdrawal, Bankruptcy, Etc. of General Partner
	 	 	20	 	 	 	 	 
	10.02 Conversion of Interest
	 	 	21	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE XI

	DISSOLUTION, LIQUIDATION, AND TERMINATION

	 
	 	 	 	 	 	 	 	 
	11.01 Dissolution
	 	 	21	 	 	 	 	 
	11.02 Liquidation and Termination
	 	 	22	 	 	 	 	 
	11.03 Cancellation of Certificate
	 	 	23	 	 	 	 	 
	 
	 	 	 	 	 	 	 	 
	ARTICLE XII

	GENERAL PROVISIONS

	 
	 	 	 	 	 	 	 	 
	12.01 Offset
	 	 	23	 	 	 	 	 
	12.02 Notices
	 	 	24	 	 	 	 	 
	12.03 Entire Agreement; Supersedure
	 	 	24	 	 	 	 	 

- ii -

 

	 	 	 	 	 	 	 	 	 
	12.04 Effect of Waiver or Consent
	 	 	24	 	 	 	 	 
	12.05 Amendment or Modification
	 	 	24	 	 	 	 	 
	12.06 Binding Effect; Joinder of Additional Parties
	 	 	24	 	 	 	 	 
	12.07 Construction
	 	 	24	 	 	 	 	 
	12.08 Further Assurances
	 	 	25	 	 	 	 	 
	12.09 Indemnification
	 	 	25	 	 	 	 	 
	12.10 Waiver of Certain Rights
	 	 	25	 	 	 	 	 
	12.11 Counterparts
	 	 	25	 	 	 	 	 
	12.12 Dispute Resolution
	 	 	25	 	 	 	 	 
	12.13 No Effect on Employment Relationship
	 	 	28	 	 	 	 	 
	12.14 Legal Representation
	 	 	28	 	 	 	 	 

- iii -

 

AGREEMENT OF LIMITED PARTNERSHIP

OF

EPE UNIT III, L.P.

     This Agreement of Limited Partnership (this “Agreement”) of EPE Unit III, L.P., a
Delaware limited partnership (the “Partnership”), is made and entered into effective as of
May 7, 2007 by and among the Partners (as defined below).

RECITALS

     FOR AND IN CONSIDERATION OF the mutual covenants, rights, and obligations set forth herein,
the benefits to be derived therefrom, and other good and valuable consideration, the receipt and
sufficiency of which each Partner acknowledges and confesses, the Partners hereby agree as follows:

ARTICLE I

DEFINITIONS

     1.01 Certain Definitions. As used in this Agreement, the following terms have the
following respective meanings:

     “Act” means the Delaware Revised Uniform Limited Partnership Act and any successor
statute, as amended from time to time.

     “Adjusted Capital Account” means, with respect to any Partner, the balance in such
Partner’s Capital Account after giving effect to the following adjustments:

	 	(a)	 	Credit to such Capital Account of any amounts that such Partner is obligated or
deemed obligated to contribute pursuant to the penultimate sentences of Sections
1.704-2(g)(1) and 1.704-2(i)(5) of the Regulations; and
	 
	 	(b)	 	Debit to such Capital Account the items described in Sections
1.704-1(b)(2)(ii)(d)(4), 1.704-1(b)(2)(ii)(d)(5) and 1.704-1(b)(2)(ii)(d)(6) of the
Regulations.

     The foregoing definition of Adjusted Capital Account is intended to comply with the provisions
of Section 1.704-1(b)(2)(ii)(d) of the Regulations and shall be interpreted consistently therewith.

     “Adjustment Date” means the (i) the fifth Business Day following the payment date with
respect to each distribution made by EPE with respect to EPE Units, and (ii) the fifth Business Day
following the receipt of any proceeds by the Partnership from the disposition of EPE Units.

     “Affiliate” means with respect to any Person any other Person that directly or
indirectly through one or more intermediaries, controls or is controlled by, or is under common
control with, the Person specified. For the purpose of this definition, “control” shall mean
the possession, directly or indirectly, of the power to direct or cause the direction of the

 

 

management and policies of a Person, whether through the ownership of voting securities, by
contract or otherwise.

     “Agreement” has the meaning given it in the introductory paragraph hereof.

     “Applicable Percentage” means with respect to a disposition of less than all the EPE
Units owned by the Partnership, the quotient (expressed as a percentage) of the number of EPE Units
held by the Partnership immediately after such disposition divided by the number of EPE Units held
by the Partnership immediately before such disposition.

     “Bankrupt Partner” means any Partner (whether a General Partner or a Limited Partner)
with respect to which an event of the type described in Section 17-402(a)(4) or (5) of the Act (or
any equivalent successor provision) shall have occurred, subject to the lapsing of any period of
time therein specified.

     “Assigned EPE Units” means those 4,421,326 EPE Units of which Beneficial Ownership was
assigned to the Partnership by the Class A Limited Partner pursuant to the Assignment.

     “Assignment” means the irrevocable assignment under the Contribution Agreement
pursuant to which Beneficial Ownership of the Assigned EPE Units has been assigned by the Class A
Limited Partner to the Partnership.

     “Contribution Agreement” means that agreement by and between Duncan Family Interests,
Inc. and EPE Unit III, L.P., dated as of May 7, 2007.

     “Beneficial Ownership” means, with respect to the Assigned EPE Units, dominion and
control (within the meaning of Treasury Regulation Section 1.704-1(e)(2)) representing all the
rights and obligations held by the Class A Limited Partner with respect to the Assigned EPE Units
prior to the Assignment as well as such residual rights exercised on behalf of the Assigned EPE
Units after the Assignment.

     “Business Day” means any day other than a Saturday, Sunday, or day on which commercial
banks in the State of Texas are authorized or required to be closed for business.

     “Capital Account” means the account maintained for each Partner pursuant to
Section 4.04.

     “Capital Contribution” means any contribution by a Partner to the capital of the
Partnership.

     “Certificate” means the Certificate of Limited Partnership of the Partnership referred
to in Section 2.05, as it may be amended or restated from time to time.

     “Change of Control” means Duncan shall (i) cease to own, directly or indirectly, at
least a majority of the equity interests in the General Partner or the general partner of EPE, or
(ii) shall cease to have the ability to elect, directly or indirectly, at least a majority of the
directors of the general partner of EPD.

- 2 -

 

     “Class A Capital Base” means (i) the Contributed Unit Fair Market Value multiplied by
(ii) the number of Assigned EPE Units, adjusted on each Adjustment Date as follows:

	 	(a)	 	increased by the Class A Preference Return that has accrued since the previous
Adjustment Date (or in the case of the first Adjustment Date, since the Closing Date);
and
	 
	 	(b)	 	decreased by all distributions made to the Class A Limited Partner since the
previous Adjustment Date (or in the case of the first Adjustment Date, since the
Closing Date).

     “Class A Limited Partner” means Duncan Family Interests, Inc., a Delaware corporation,
and its successors and assigns.

     “Class A Preference Return” means the sum of the amounts determined for each day,
equal to the Class A Preference Return Rate multiplied by the Class A Capital Base.

     “Class A Preference Return Amount” means the aggregate Class A Preference Return minus
all prior distributions to the Class A Limited Partner pursuant to Sections 5.03(a) and
5.04(a).

     “Class A Preference Return Rate” means a percent per annum equal to 3.797% ((i) $1.46
(the per annum distribution rate based on the distribution announced with respect to the April 30,
2007 Record Date for Units of EPE) divided by (ii) the Contributed Unit Fair Market Value), divided
by 365 or 366 days, as the case may be during such calendar year.

     “Class B Limited Partner” means any Person executing (by power of attorney or
otherwise) this Agreement as of the date hereof as a Class B Limited Partner or hereafter admitted
to the Partnership as a Class B Limited Partner as herein provided, but shall not include any
Person who has ceased to be a Class B Limited Partner in the Partnership.

     “Class B Percentage Interest” means with respect to each Class B Limited Partner the
quotient (expressed as a percentage) of (i) such Class B Limited Partner’s Sharing Points, divided
by (ii) the Sharing Points of all Class B Limited Partners. For purposes of calculating the Class
B Percentage Interest, Sharing Points attributable to interests in the Partnership that are
forfeited pursuant to Section 3.07 shall be ignored.

     “Closing Date” means May 7, 2007, the date on which the Class A Limited Partner
contributed Beneficial Ownership of the Assigned EPE Units to the Partnership pursuant to the
Contribution Agreement.

     “Contributed Unit Fair Market Value” means $38.45 (the closing sales price per EPE
Unit on the New York Stock Exchange on May 4, 2007).

     “Code” means the Internal Revenue Code of 1986, and any successor statute, as amended
from time to time.

- 3 -

 

     “Default Interest Rate” means a varying per annum rate equal at any given time to the
lesser of (a) four percentage points in excess of the General Interest Rate and (b) the maximum
rate permitted by applicable law.

     “Disability” means the event whereby a Limited Partner becomes entitled to receive
long-term disability benefits under the long-term disability plan of the General Partner or any of
its Affiliates.

     “Dispose,” “Disposing,” or “Disposition” means a sale, assignment,
transfer, exchange, mortgage, pledge, grant of a security interest, or other disposition or
encumbrance, or the acts thereof, other than by divorce, legal separation or other dissolution of a
Partner’s marriage.

     “Duncan” means, collectively, individually or in any combination, Dan L. Duncan, his
wife, descendants, heirs and/or legatees and/or distributees of Dan L. Duncan’s estate, and/or
trusts established for the benefit of his wife, descendants, such legatees and/or distributees
and/or their respective descendants, heirs, legatees and distributees.

     “EPCO” means EPCO, Inc., a Texas corporation.

     “EPD” means Enterprise Products Partners L.P., a Delaware limited partnership.

     “EPE” means Enterprise GP Holdings L.P., a Delaware limited partnership.

     “EPE Units” means (1) the Assigned EPE Units for so long as the Contribution Agreement
is effective, and (2) thereafter, the partnership units representing limited partner interests in
EPE.

     “General Interest Rate” means a varying per annum rate equal at any given time to the
lesser of (a) the interest rate publicly quoted by J.P. Morgan Chase from time to time as its prime
commercial or similar reference interest rate, and (b) the maximum rate permitted by applicable
law.

     “General Partner” means EPCO, Inc., a Texas corporation, or any Person hereafter
admitted to the Partnership as a general partner as herein provided, but shall not include any
Person who has ceased to be a general partner in the Partnership.

     “Limited Partner” means the Class A Limited Partner or any Class B Limited Partner.

     “Net Income” and “Net Loss” mean, respectively, subject to Section
4.04, an amount equal to the Partnership’s taxable income or loss taking the Assignment into
account determined in accordance with Code Section 703(a) (for this purpose, all items of income,
gain, loss, or deduction required to be stated separately pursuant to Code Section 703(a)(1) shall
be included in taxable income or loss), with the following adjustments:

     (a) Any income of the Partnership that is exempt from federal income tax and not otherwise
taken into account in computing Net Income or Net Loss pursuant to this definition of Net Income
and Net Loss shall be added to such taxable income or loss;

- 4 -

 

     (b) Any expenditures of the Partnership described in Code Section 705(a)(2)(B) or treated as
Code Section 705(a)(2)(B) expenditures pursuant to Section 1.704-1(b)(2)(iv)(i) of the Regulations,
and not otherwise taken into account in computing Net Income or Net Loss pursuant to this
definition of Net Income and Net Loss, shall be subtracted from such taxable income or loss;

     (c) In the event the value of any Partnership property is adjusted pursuant to Section
4.04 (i) such adjustment shall be taken into account as gain or loss from the disposition of
such Partnership property for purposes of computing Net Income or Net Loss, (ii) if such property
is subject to depreciation, cost recovery, depletion or amortization, any further deductions for
such depreciation, cost recovery, depletion or amortization attributable to such property shall be
determined taking into account such adjustment, and (ii) in determining the amount of any income,
gain or loss attributable to the taxable disposition of such property such adjustment (and the
related adjustments for depreciation, cost recovery, depletion or amortization) shall be taken into
account;

     (d) To the extent an adjustment to the adjusted tax basis of any Partnership Property pursuant
to Code Section 734(b) is required, pursuant to Section 1.704-1(b)(2)(iv)(m)(4) of the Regulations,
to be taken into account in determining Capital Accounts as a result of a Distribution other than
in liquidation of a Partner’s interest in the Partnership, the amount of such adjustment shall be
treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the
adjustment decreases such basis) from the disposition of such Partnership Property and shall be
taken into account for purposes of computing Net Income or Net Loss; and

     (e) Any items that are allocated pursuant to Section 5.01(b) shall not be taken into
account in computing Net Income or Net Loss.

     “Partner” means the General Partner, the Class A Limited Partner or any Class B
Limited Partner.

     “Partnership” has the meaning given it in the introductory paragraph.

     “Person” has the meaning given it in the Act.

     “Qualifying Termination” means the termination of a Class B Limited Partner’s
employment with the General Partner and its Affiliates due to (i) death, (ii) receiving long-term
disability benefits under the long-term disability plan of the General Partner or any of its
Affiliates or (iii) retirement with the approval of the General Partner on or after reaching age
60.

     “Regulations” means the regulations promulgated under Section 704 of the Code.

     “Required Interest” means one or more Class B Limited Partners having among them more
than 50% of the Class B Percentage Interests of all Limited Partners in its or their capacities as
such.

     “Sharing Points” means, with respect to each Class B Limited Partner, the number of
Sharing Points granted by the General Partner to such Class B Limited Partner (which number is set
forth on the Power of Attorney executed by the Class B Limited Partner and delivered to the

- 5 -

 

General Partner), as the same may be amended from time to time pursuant to the terms of this
Agreement.

     “Vesting Date” means the earliest of (i) the fifth anniversary of the date of this
Agreement, (ii) a Change of Control or (iii) dissolution of the Partnership.

     1.02 Other Definitions. Other terms defined herein have the meanings so given them.

ARTICLE II

ORGANIZATIONAL MATTERS

     2.01 Formation. The Partnership has been previously formed as a Delaware limited
partnership for the purposes hereinafter set forth under and pursuant to the provisions of the Act.

     2.02 Name. The name of the Partnership is “EPE Unit III, L.P.” and all Partnership
business shall be conducted in such name or such other name or names that comply with applicable
law as the General Partner may designate from time to time.

     2.03 Registered Office; Registered Agent; Other Offices. The registered office of the
Partnership in the State of Delaware shall be at such place as the General Partner may designate
from time to time. The registered agent for service of process on the Partnership in the State of
Delaware or any other jurisdiction shall be such Person or Persons as the General Partner may
designate from time to time. The Partnership may have such other offices as the General Partner
may designate from time to time.

     2.04 Purposes. The purposes of the Partnership are to acquire, own, sell, exchange or
otherwise dispose of EPE Units, and to enter into, make and perform all contracts and other
undertakings and to engage in any other business, activity or transaction that now or hereafter may
be necessary, incidental, proper, advisable, or convenient, as determined by the General Partner,
to accomplish the foregoing purposes.

     2.05 Certificate; Foreign Qualification. The General Partner has previously executed
and caused to be filed with the Secretary of State of the State of Delaware a Certificate of
Limited Partnership, effective as of April 26, 2007, containing information required by the Act and
such other information as the General Partner deemed appropriate. Prior to conducting business in
any jurisdiction other than Delaware, the General Partner shall cause the Partnership to comply, to
the extent such matters are reasonably within the control of the General Partner, with all
requirements necessary to
qualify the Partnership as a foreign limited partnership (or a partnership in which the
Limited Partners have limited liability) in such jurisdiction. Upon the request of the General
Partner, each Partner shall execute, acknowledge, swear to, and deliver all certificates and other
instruments conforming with this Agreement that are necessary or appropriate as determined by the
General Partner to qualify, continue, and terminate the Partnership as a limited partnership under
the laws of the State of Delaware and to qualify, continue, and terminate the Partnership as a
foreign limited partnership (or a partnership in which the Limited Partners have limited liability)
in all other jurisdictions in which the Partnership may conduct business, and to this end the
General Partner may use the power of attorney described in Section 6.04.

- 6 -

 

     2.06 Term. The term of this Partnership shall continue in existence until the close
of Partnership business on the earliest to occur of (i) the fiftieth anniversary of the date of
this Agreement, and (ii) such earlier time as this Agreement may specify.

     2.07 Merger or Consolidation. The Partnership may merge or consolidate with or into
another business entity, or enter into an agreement to do so, with the consent of the General
Partner and a Required Interest.

ARTICLE III

PARTNERS; DISPOSITIONS OF INTERESTS

     3.01 Partners. The General Partner, the Class A Limited Partner and the Class B
Limited Partners of the Partnership are the Persons executing (by power of attorney or otherwise)
this Agreement as of the date hereof as the General Partner, the Class A Limited Partner and the
Class B Limited Partners, respectively, each of which is admitted to the Partnership as the General
Partner, Class A Limited Partner or a Class B Limited Partner, as the case may be, effective as of
the date hereof.

     3.02 Representations and Warranties. Each Partner hereby represents and warrants to
the Partnership and each other Partner that (a) if such Partner is a corporation, it is duly
organized, validly existing, and in good standing under the laws of the jurisdiction of its
incorporation and is duly qualified and in good standing as a foreign corporation in the
jurisdiction of its principal place of business (if not incorporated therein), (b) if such Partner
is a trust, estate or other entity, it is duly formed, validly existing, and (if applicable) in
good standing under the laws of the jurisdiction of its formation, and if required by law is duly
qualified to do business and (if applicable) in good standing in the jurisdiction of its principal
place of business (if not formed therein), (c) such Partner has full corporate, trust, or other
applicable right, power and authority to enter into this Agreement and to perform its obligations
hereunder and all necessary actions by the board of directors, trustees, beneficiaries, or other
Persons necessary for the due authorization, execution, delivery, and performance of this Agreement
by such Partner have been duly taken, and such authorization, execution, delivery, and performance
do not conflict with any other agreement or arrangement to
which such Partner is a party or by which it is bound, and (d) such Partner is acquiring its
interest in the Partnership for investment purposes and not with a view to distribution thereof.

     3.03 Restrictions on the Disposition of an Interest. (a) No Class B Limited Partner
may Dispose of all or part of its interest in the Partnership without the prior written consent
(which may be given or withheld in its sole discretion) of the General Partner, and then only after
Sections 3.03(c), (d) and (e) have been complied with, except that Class B
Limited Partners may Dispose of all of its interest upon the death of such Class B Limited Partner
or upon becoming a Bankrupt Partner, but in each case only after compliance with Sections
3.03(c), (d) and (e). Neither the General Partner nor the Class A Limited
Partner may Dispose of all or a part of its interest in the Partnership to a Person who is not an
Affiliate of Duncan without the prior written consent of a Required Interest, and then only after
Sections 3.03(c), (d) and (e) have been complied with.

- 7 -

 

     (b) Subject to the provisions of Sections 3.03(c), (d) and (e), a
permitted transferee of all or a part of a Partner’s interest in the Partnership shall be admitted
to the Partnership as a General Partner or a Limited Partner (as applicable) with, in the case of
Class B Limited Partners, such Sharing Points (no greater than the Sharing Points of the Class B
Limited Partners effecting such Disposition immediately prior thereto) as the Partner effecting
such Disposition and such permitted transferee may agree.

     (c) The Partnership shall not recognize for any purpose any purported Disposition of an
interest in the Partnership or distributions therefrom unless and until the provisions of this
Section 3.03 shall have been satisfied and there shall have been delivered to the General
Partner a document (i) executed by both the Partner effecting such Disposition and the Person to
which such interest or interest in distributions are to be Disposed, (ii) including the written
acceptance by any Person to be admitted to the Partnership of all the terms and provisions of this
Agreement, such Person’s notice address, and an agreement by such Person to perform and discharge
timely all of the obligations and liabilities in respect of the interest being obtained, (iii)
setting forth, in the case of the Class B Limited Partners, the Sharing Points of the Class B
Limited Partners effecting such Disposition and the Person to which such interest is Disposed after
such Disposition (which together shall total the Sharing Points of the Class B Limited Partners
effecting such Disposition prior thereto), (iv) containing a representation and warranty that such
Disposition complied with all applicable laws and regulations (including securities laws) and a
representation and warranty by such Person that the representations and warranties in Section
3.02 are true and correct with respect to such Person. Each such Disposition and, if
applicable, admission shall be effective as of the first day of the calendar month immediately
succeeding the month in which the General Partner shall receive such notification of Disposition
and the other requirements of this Section 3.03 shall have been met unless the General
Partner and the Partner affecting such Disposition agree to a different effective date; provided,
however, that if there shall be only one General Partner and such Disposition or admission and, as
a result of such Disposition such General Partner would cease to be a General Partner, such
permitted transferee shall be deemed admitted as a General Partner immediately prior to such
cessation.

     (d) Notwithstanding any provision of this Agreement to the contrary, the right of any Partner
to Dispose of an interest in the Partnership or distributions therefrom or of any Person to
be admitted to the Partnership in connection therewith shall not exist or be exercised (i)
unless and until the Partnership shall have received a favorable opinion of the Partnership’s legal
counsel or of other legal counsel acceptable to the General Partner to the effect that such
Disposition or admission is not required to be registered under the Securities Act of 1933 or any
other applicable securities laws, and such Disposition or admission would not cause the Partnership
to become an “investment company” required to register under the Investment Company Act of 1940,
and (ii) unless such Disposition or admission would not result in the Partnership being treated as
an association taxable as a corporation for federal income tax purposes or as a publicly traded
partnership as defined in Section 7704 of the Code. The General Partner, however, may waive the
requirements of Section 3.03(d)(i).

     (e) All costs (including, without limitation, the legal fees incurred in connection with the
obtaining of the legal opinions referred to in Section 3.03(d)) incurred by the Partnership
in connection with any Disposition or admission of a Person to the Partnership pursuant to this

- 8 -

 

Section 3.03 shall be borne and paid by the Partner effecting such Disposition within 10
days after the receipt by such Person of the Partnership’s invoice for the amount due.

     (f) In the event of a Disposition of an interest in the Partnership pursuant to the death of a
Limited Partner that would, in the opinion of the Partnership’s legal counsel, result in the
Partnership becoming an “investment company” required to register under the Investment Company Act
of 1940, the General Partner shall have the right to purchase such interest from the estate (or
beneficiaries) of such deceased Partner for a price equal to the amount that the deceased Partner’s
estate (or beneficiaries) would receive if all of the EPE Units held by the Partnership were sold
at a price equal to the closing sale price per EPE Unit as reported by the New York Stock Exchange
(or such other applicable trading market) on the day prior to the exercise of such right by the
General Partner and the proceeds from such sale were distributed to the Partners in accordance with
the provisions of Section 5.04. The determination by the General Partner of the foregoing
purchase price of such deceased Partner’s interest in the Partnership shall be conclusive and
binding on the deceased Partner’s estate and beneficiaries.

     (g) Any attempted Disposition by a Person of an interest or right, or any part thereof, in or
in respect of the Partnership other than in accordance with this Section 3.03 shall be, and
is hereby declared, null and void ab initio.

     3.04 Additional Partners. Subject to the provisions of Section 12.05 and
3.03, additional Persons may be admitted to the Partnership as General Partners or Limited
Partners, only to the extent that, and on such terms and conditions as, the General Partner shall
consent at the time of such admission or issuance. Such admission or issuance shall, in the case
of a Class B Limited Partners, specify the Sharing Points applicable thereto. Any such admission
must comply with the provisions of Section 3.03(d) and shall not be effective until such
new Partner shall have executed and delivered to the General Partner a document including such new
Partner’s notice address, acceptance of all the terms and provisions of this Agreement, an
agreement to perform and discharge timely all of its obligations and liabilities hereunder, and a
representation and warranty that the representations and warranties in Section 3.02 are
true and correct with respect to such new Partner.

     3.05 Interests in a Partner. No Partner that is not a natural person shall cause or
permit an interest, direct or indirect, in itself to be Disposed of such that, on account of such
Disposition, the Partnership would become an association taxable as a corporation for federal
income tax purposes.

     3.06 Spouses of Partners. A spouse of a Partner does not become a Partner as a result
of such marital relationship or by reason of a divorce, legal separation or other dissolution of
marriage. If, in the event of a divorce, legal separation or other dissolution of marriage of a
Partner, a former spouse of a Partner is awarded ownership of, or an interest in, all or part of a
Partner’s interest in the Partnership (the “Awarded Interest”), the Awarded Interest shall
automatically and immediately be forfeited and cancelled without payment on such date.

     3.07 Vesting of Limited Partners. One hundred percent (100%) of the Class B Limited
Partner’s interest in the Partnership shall vest on the Vesting Date, but only if (i) on such date
the Class B Limited Partner continues to be an active, full-time employee of the General Partner or

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any of its Affiliates or (ii) prior to the Vesting Date a Qualifying Termination has occurred with
respect to the Class B Limited Partner. At such time as the Class B Limited Partner ceases, for
any reason other than a Qualifying Termination, to be an active, full-time employee of the General
Partner or any of its Affiliates prior to the Vesting Date, his unvested interest in the
Partnership shall be forfeited. If the Class B Limited Partner ceases to be an active, full-time
employee prior to the Vesting Date, as determined by the General Partner in its sole discretion,
without regard as to how his status is treated by the General Partner or any of its Affiliates for
any of its other compensation or benefit plans or programs, the Class B Limited Partner will be
deemed to have terminated employment with the General Partner and its Affiliates and forfeited his
unvested interest in the Partnership for purposes of this Agreement. The Capital Account
attributable to any Class B Limited Partner’s interest in the Partnership that is forfeited
pursuant to Section 3.06, this Section 3.07 or otherwise hereunder shall be
allocated to the remaining Class B Limited Partners in accordance with their respective Class B
Participation Interests.

     3.08 Services Provided by the Partners. The interests in the Partnership held by the
Partners are for the benefit of certain employees in connection with services rendered or to be
rendered by the Partners. EPCO shall be an express third party beneficiary of the services
provided by the Partners.

ARTICLE IV

CAPITAL CONTRIBUTIONS

     4.01 Initial and Additional Capital Contributions. In connection with the formation
of the Partnership, the General Partner contributed $1,700 to the Partnership and on the Closing
Date, the Class A Limited Partner contributed to the Partnership $169,999,985 worth of EPE Units
(equal to 4,421,326 EPE Units based on the $38.45 last reported sales price of the
EPE Units on the New York Stock Exchange on May 4,
2007). No Class B Limited Partners is obligated to make a contribution to the Partnership. Subject
to the provisions of applicable law or except as otherwise provided for herein, no Partner shall be
liable for or obligated to make an additional Capital Contribution to the Partnership, whether for
the purpose of enabling the Partnership to meet its obligations under Section 6.03 or for
any other purpose. The initial Capital Account of the General Partner is $1,700, the initial
Capital Account of the Class A Limited Partner as of the Closing Date is 169,999,985, and the
initial Capital Account of each Class B Limited Partner is zero.

     4.02 Return of Contributions. No Partner shall be entitled to the return of any
part of its Capital Contributions or to be paid interest in respect of either its Capital Account
or any Capital Contribution made by it. No unrepaid Capital Contribution shall be deemed or
considered to be a liability of the Partnership or of any Partner. No Partner shall be required to
contribute, advance or lend any cash or property to the Partnership to enable the Partnership to
return any Partner’s Capital Contributions to the Partnership. To the extent, however, any Partner
(by mistake, overpayment or otherwise) advances funds to the Partnership in excess of the Capital
Contributions called for under Section 4.01, such excess amounts shall not be Capital
Contributions and (other than advances made by the General Partner pursuant to Section 4.03
below) shall be promptly returned by the Partnership to the Partner so advancing such funds.

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     4.03 Advances by General Partner. At any time that the Partnership shall not have
sufficient cash to pay its obligations, the General Partner may, but shall not be obligated to,
advance such funds for or on behalf of the Partnership. Each such advance shall constitute a loan
from the General Partner to the Partnership and shall bear interest from the date of the advance
until the date of repayment at the General Interest Rate. Any advances made by the General Partner
pursuant to this Section 4.03 shall not be considered to be Capital Contributions. All
advances shall be repaid out of the next available funds of the Partnership, including Capital
Contributions received.

     4.04 Capital Accounts. A Capital Account shall be established and maintained for each
Partner. Each Partner’s Capital Account (a) shall be increased by (i) the amount of money
contributed by that Partner to the Partnership, (ii) the fair market value of property, if any,
contributed by that Partner to the Partnership (net of liabilities secured by such contributed
property that the Partnership is considered to assume or take subject to under Section 752 of the
Code), and (iii) allocations to that Partner of Partnership income and gain (or items thereof),
including income and gain exempt from tax and income and gain described in Regulation Section
1.704-1(b)(2)(iv)(g), but excluding income and gain described in Regulation Section
1.704-1(b)(4)(i), and (b) shall be decreased by (i) the amount of money distributed to that Partner
by the Partnership, (ii) the fair market value of property distributed to that Partner by the
Partnership (net of liabilities secured by such distributed property that such Partner is
considered to assume or take subject to under Section 752 of the Code), (iii) allocations to that
Partner of expenditures of the Partnership described in Section 705(a)(2)(B) of the Code, and (iv)
allocations of Partnership loss and
deduction (or items thereof), including loss and deduction described in Regulation Section
1.704-1(b)(2)(iv)(g), but excluding items described in clause (b)(iii) above and loss or
deduction described in Regulation Section 1.704-1(b)(4)(i). The Partners’ Capital Accounts also
shall be maintained and adjusted as permitted by the provisions of Regulation Section
1.704-1(b)(2)(iv)(f) and as required by the other provisions of Regulation Sections
1.704-1(b)(2)(iv) and 1.704-1(b)(4), including adjustments to reflect the allocations to the
Partners of depreciation, amortization, and gain or loss as computed for book purposes rather than
the allocation of the corresponding items as computed for tax purposes, as required by Regulation
Section 1.704-1(b)(2)(iv)(g). A Partner that has more than one interest in the Partnership shall
have a single Capital Account that reflects all such interests, regardless of the class of
interests owned by such Partner and regardless of the time or manner in which such interests were
acquired; provided, that Partners that are Affiliates but nevertheless separate legal entities
shall have separate Capital Accounts. Upon the transfer of all or part of an interest in the
Partnership, the Capital Account of the transferor that is attributable to the transferred interest
in the Partnership shall carry over to the transferee Partner in accordance with the provisions of
Regulation Section 1.704-1(b)(2)(iv)(l).

ARTICLE V

ALLOCATIONS AND DISTRIBUTIONS

     5.01 Allocations.

     (a) Net Income and Net Loss. For purposes of maintaining the Capital Accounts, Net
Income or Net Loss (and all items included in the computation thereof) shall be allocated among the
Partners as follows:

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     (i) Net Income:

     (A) First, to the Class A Limited Partner until the Class A Limited Partner’s
Adjusted Capital Account equals the Class A Capital Base; and

     (B) Thereafter, to the Class B Limited Partners in accordance with the Class B
Percentage Interests.

     (ii) Net Loss:

     (A) First, to the Class B Limited Partners in accordance with the Class B
Percentage Interests until the Adjusted Capital Accounts of the Class B Limited
Partners are reduced to zero; and

     (B) Thereafter, to the Class A Limited Partner.

     (b) Special Allocations. Notwithstanding any other provision of this Section
5.01, the following special allocations shall be made for such taxable period:

     (i) Partnership Minimum Gain Chargeback. Notwithstanding any other provision
of this Section 5.01, if there is a net decrease in Partnership Minimum Gain during
any Partnership taxable period, each Partner shall be allocated items of Partnership income
and gain for such period (and, if necessary, subsequent periods) in the manner and amounts
provided in Regulation Sections 1.704-2(f)(6), 1.704-2(g)(2) and 1.704-2(j)(2)(i), or any
successor provision. For purposes of this Section 5.01(b), each Partner’s Adjusted
Capital Account balance shall be determined, and the allocation of income or gain required
hereunder shall be effected, prior to the application of any other allocations pursuant to
this Section 5.01(b) with respect to such taxable period (other than an allocation
pursuant to Sections 5.01(b)(vi) and 5.01(b)(vii)). This Section
5.01(b)(i) is intended to comply with the Partnership Minimum Gain chargeback
requirement in Regulation Section 1.704-2(f) and shall be interpreted consistently
therewith.

     (ii) Chargeback of Partner Nonrecourse Debt Minimum Gain. Notwithstanding the
other provisions of this Section 5.01 (other than Section 5.01(b)(i)),
except as provided in Regulation Section 1.704-2(i)(4), if there is a net decrease in
Partner Nonrecourse Debt Minimum Gain during any Partnership taxable period, any Partner
with a share of Partner Nonrecourse Debt Minimum Gain at the beginning of such taxable
period shall be allocated items of Partnership income and gain for such period (and, if
necessary, subsequent periods) in the manner and amounts provided in Regulation Sections
1.704-2(i)(4) and 1.704-2(j)(2)(ii), or any successor provisions. For purposes of this
Section 5.01(b), each Partner’s Adjusted Capital Account balance shall be
determined, and the allocation of income or gain required hereunder shall be effected, prior
to the application of any other allocations pursuant to this Section 5.01(b), other
than Section 5.01(b)(i) and other than an allocation pursuant to Sections
5.01(b)(vi) and 5.01(b)(vii), with respect to such taxable period. This
Section 5.01(b)(ii) is intended to comply with the chargeback of items of income and
gain requirement in Regulation Section 1.704-2(i)(4) and shall be interpreted consistently
therewith.

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     (iii) Qualified Income Offset. In the event any Partner unexpectedly receives
any adjustments, allocations or distributions described in Regulation Sections
1.704-1(b)(2)(ii)(d)(4), 1.704-1(b)(2)(ii)(d)(5), or 1.704-1(b)(2)(ii)(d)(6), items of
Partnership income and gain shall be specially allocated to such Partner in an amount and
manner sufficient to eliminate, to the extent required by the Regulations, the deficit
balance, if any, in its Adjusted Capital Account created by such adjustments, allocations or
distributions as quickly as possible unless such deficit balance is otherwise eliminated
pursuant to Section 5.01(b)(i) or (ii).

     (iv) Gross Income Allocations. In the event any Partner has a deficit balance
in its Capital Account at the end of any Partnership taxable period in excess of the sum of
(A) the amount such Partner is required to restore pursuant to the provisions of this
Agreement and (B) the amount such Partner is deemed obligated to restore pursuant to
Regulation Sections 1.704-2(g) and 1.704-2(i)(5), such Partner shall be specially allocated
items of Partnership gross income and gain in the amount of such excess as quickly as
possible; provided, that an allocation pursuant to this Section 5.01(b)(iv) shall be
made only if and to the extent that such Partner would have a deficit balance in its
Capital Account as adjusted after all other allocations provided for in this
Section 5.01 have been tentatively made as if this Section 5.01(b)(iv) were
not in this Agreement.

     (v) Nonrecourse Deductions. Nonrecourse Deductions for any taxable period
shall be allocated to the Partners in accordance with their respective Percentage Interests.
If the General Partner determines that the Partnership’s Nonrecourse Deductions should be
allocated in a different ratio to satisfy the safe harbor requirements of the Regulations
promulgated under Section 704(b) of the Code, the General Partner is authorized, upon notice
to the other Partners, to revise the prescribed ratio to the numerically closest ratio that
does satisfy such requirements.

     (vi) Partner Nonrecourse Deductions. Partner Nonrecourse Deductions for any
taxable period shall be allocated 100% to the Partner that bears the Economic Risk of Loss
with respect to the Partner Nonrecourse Debt to which such Partner Nonrecourse Deductions
are attributable in accordance with Regulation Section 1.704-2(i). If more than one Partner
bears the Economic Risk of Loss with respect to a Partner Nonrecourse Debt, such Partner
Nonrecourse Deductions attributable thereto shall be allocated between or among such
Partners in accordance with the ratios in which they share such Economic Risk of Loss.

     (vii) Nonrecourse Liabilities. For purposes of Regulation Section
1.752-3(a)(3), the Partners agree that Nonrecourse Liabilities of the Partnership in excess
of the sum of (A) the amount of Partnership Minimum Gain and (B) the total amount of
Nonrecourse Built-in Gain shall be allocated among the Partners in accordance with their
respective Percentage Interests.

     (viii) Code Section 754 Adjustments. To the extent an adjustment to the
adjusted tax basis of any Partnership asset pursuant to Section 734(b) or 743(b) of the Code
is required, pursuant to Regulation Section 1.704-1(b)(2)(iv)(m), to be taken into account
in determining Capital Accounts, the amount of such adjustment to the Capital

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Accounts shall
be treated as an item of gain (if the adjustment increases the basis of the asset) or loss
(if the adjustment decreases such basis), and such item of gain or loss shall be specially
allocated to the Partners in a manner consistent with the manner in which their Capital
Accounts are required to be adjusted pursuant to such Section of the Regulations.

     (c) Allocations Caused by Transfer of Interest. All items of income, gain, loss,
deduction, and credit allocable to any interest in the Partnership that may have been transferred
shall be allocated between the transferor and the transferee based upon that portion of the
calendar year during which each was recognized as owning such interest, without regard to the
results of Partnership operations during any particular portion of such calendar year and without
regard to distributions made to the transferor and the transferee during such calendar year;
provided, however, that such allocation shall be made in accordance with a method permissible under
Section 706 of the Code and the regulations thereunder.

     5.02 Income Tax Allocations.

     (a) Except as provided in this Section 5.02, each item of income, gain, loss and
deduction of the Partnership for federal income tax purposes shall be allocated among the Partners
in the same manner as such items are allocated for purposes of maintaining Capital Account under
Section 5.01.

     (b) For federal and state income tax purposes, income, gain, loss, and deduction with respect
to property contributed to the Partnership by a Partner or revalued pursuant to Regulation Section
1.704-1(b)(2)(iv)(f) shall be allocated among the Partners in a manner that takes into account the
variation between the adjusted tax basis of such property and its book value, as required by
Section 704(c) of the Code and Regulation Section 1.704-1(b)(4)(i), using any allocation method
permitted by Regulation Section 1.704-3.

     (c) The Partnership will follow the proposed Treasury Regulations that were issued on May 24,
2005, regarding the issuance of partnership equity for services (including Prop. Treas. Reg.
Sections 1.83-3, 1.83-6, 1.704-1, 1.706-3, 1.721-1 and 1.761-1), as such regulations may be
subsequently amended, upon the issuance of equity membership interests or options issued for
services rendered or to be rendered, until final Treasury Regulations regarding these matters are
issued. In furtherance of the foregoing, the definition of Capital Account and the allocations of
Net Income and Net Loss of the Partnership shall be made in a manner that is consistent with the
proposed Treasury Regulations and the proposed Revenue Procedure described in IRS Notice 2005-43,
or provisions similar thereto, are adopted as final (or temporary) rules (the “New Rules”),
and the General Partner is authorized to make such amendments to this Agreement (including
provision for any safe harbor election authorized by the New Rules) as the General Partner may
determine to be necessary or advisable.

     5.03 Distributions of Cashflow from EPE Units. Promptly following the receipt of any
distributions with respect to EPE Units, the General Partner shall cause to be distributed to the
Partners such receipts (and any income from the temporary investment thereof) in the manner set
forth below, provided, that the General Partner may withhold and not distribute such portion of any
such receipts that the General Partner has determined in its sole but good faith discretion

- 14 -

 

should
be withheld to pay expenses of the Partnership. Distribution to the Partners pursuant to this
Section 5.03 shall be made as follows:

     (a) First, to the Class A Limited Partner until the Class A Limited Partner’s Class A
Preference Return Amount has been reduced to zero; and

     (b) Thereafter, to the Class B Limited Partners in accordance with the Class B Percentage
Interests.

     5.04 Distributions of Proceeds from Sales of EPE Units. Promptly
following the receipt of any proceeds from the sale of any EPE Units by the
Partnership, the General Partner shall cause to be distributed to the Partners such receipts in the
manner set forth below, provided that the General Partner may withhold and not distribute such
portion of any such receipts that the General Partner has determined in its sole but good faith
discretion should be withheld to pay expenses of the Partnership. Distribution to the Partners
pursuant to this Section 5.04 shall be made as follows:

     (a) First, to the Class A Limited Partner until the Class A Preference Return Amount has been
reduced to zero;

     (b) Next, to the Class A Limited Partner until the Class A Capital Base is reduced to zero;
and

     (c) Thereafter, to the Class B Limited Partners in accordance with the Class B Percentage
Interests.

     5.05 Restrictions on Distributions of EPE Units. The Partners and the Partnership
hereby agree that they shall not cause the Partnership to offer for sale, sell, pledge or otherwise
transfer, distribute or dispose of the EPE Units held by the Partnership prior to the Vesting Date.

ARTICLE VI

MANAGEMENT AND OPERATION

     6.01 Management of Partnership Affairs. Except for situations in which the approval
of the Limited Partners is expressly required by this Agreement or by non-waivable provisions of
applicable law, the General Partner shall have full, complete, and exclusive authority to manage
and control the business, affairs, and properties of the Partnership, to make all decisions
regarding the same, and to perform any and all other acts or activities customary or incident to
the management of the Partnership’s business. The General Partner shall receive no compensation
for its services as such. Subject to the other express provisions hereof, the General Partner
shall make or take all decisions and actions for the Partnership not otherwise provided for herein,
including, without limitation, the following:

     (a) acquiring, holding, managing, selling, Disposing of, and otherwise dealing with and
investing in (i) the Partnership’s EPE Units, or (ii) temporary investments of Partnership capital
in U.S. government securities, certificates of deposit with maturities of less than one year,
commercial paper (rated or unrated), and other highly liquid securities;

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     (b) entering into, making, and performing all contracts, agreements, and other undertakings
binding the Partnership, as may be necessary, appropriate, or advisable in furtherance of the
purposes of the Partnership and making all decisions and waivers thereunder;

     (c) opening and maintaining bank and investment accounts and drawing checks and other orders
for the payment of monies;

     (d) maintaining the assets of the Partnership in compliance with applicable securities laws
and protecting and preserving the Partnership’s title thereto;

     (e) collecting all sums due the Partnership;

     (f) to the extent that funds of the Partnership are available therefor, paying as they become
due all debts and obligations of the Partnership;

     (g) causing securities owned by the Partnership to be registered in the Partnership’s name or
in the name of a nominee or to be held in street name, as the General Partner may elect;

     (h) selecting, removing, and changing the authority and responsibility of lawyers,
accountants, brokers, and other advisors and consultants;

     (i) obtaining insurance for the Partnership to the extent the General Partner deems
appropriate; and

     (j) determining distributions of Partnership cash as provided in Sections 5.03 and
5.04.

     6.02 Duties and Obligations of General Partner. The General Partner shall endeavor to
conduct the affairs of the Partnership in the best interests of the Partnership and the mutual best
interests of the Partners, including, without limitation, the safekeeping and use of all
Partnership funds and assets and the use thereof for the benefit of the Partnership. The General
Partner at all times shall act in good faith in all activities relating to the conduct of the
business of the Partnership. The General Partner shall devote such time as it deems necessary to
conduct the business and affairs of the Partnership in an appropriate manner.

     6.03 Release and Indemnification. TO THE FULLEST EXTENT PERMITTED BY LAW, THE
PARTNERSHIP AND EACH OTHER PARTNER ON BEHALF OF ITSELF AND ITS SUCCESSORS AND ASSIGNS HEREBY
RELEASES, ACQUITS, AND FOREVER DISCHARGES THE GENERAL PARTNER AND THE CLASS A LIMITED PARTNER,
THEIR PARTNERS OR SHAREHOLDERS, AND THEIR DIRECTORS, OFFICERS, EMPLOYEES, PARTNERS,
REPRESENTATIVES, AND AGENTS AND EACH OTHER PERSON, IF ANY, CONTROLLING OR EMPLOYING SUCH PERSONS OR
ENTITIES (COLLECTIVELY, THE “INDEMNITEES”) FROM ALL CLAIMS, DEMANDS, OR CAUSES OF ACTION OF
ANY CHARACTER THAT SUCH PARTY MAY HAVE, WHETHER KNOWN OR UNKNOWN, AGAINST ANY INDEMNITEE IN
CONNECTION WITH THE PARTNERSHIP AND/OR THE BUSINESS CONDUCTED BY THE PARTNERSHIP; PROVIDED,
HOWEVER, THAT SUCH RELEASE SHALL NOT APPLY TO ACTIONS CONSTITUTING WILLFUL

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MISCONDUCT OR BAD FAITH.
TO THE FULLEST EXTENT PERMITTED BY LAW, THE PARTNERSHIP SHALL INDEMNIFY AND HOLD HARMLESS EACH
INDEMNITEE FROM AND AGAINST ALL LOSSES, COSTS, CLAIMS, LIABILITIES, DAMAGES, EXPENSES
(INCLUDING, WITHOUT LIMITATION, COSTS OF SUIT AND ATTORNEYS’ FEES) SUCH INDEMNITEE MAY INCUR
IN CONNECTION WITH THE GENERAL PARTNER’S PERFORMING ITS OBLIGATIONS HEREUNDER (INCLUDING WITHOUT
LIMITATION LOSSES, COSTS, CLAIMS, LIABILITIES, DAMAGES AND EXPENSES ARISING FROM, OR ALLEGED TO
ARISE FROM, THE INDEMNITEE’S ACTIVE OR PASSIVE, SOLE OR CONCURRENT, NEGLIGENCE OR GROSS
NEGLIGENCE), AND THE PARTNERSHIP SHALL ADVANCE EXPENSES ASSOCIATED WITH THE DEFENSE OF ANY ACTION
RELATED THERETO; PROVIDED, HOWEVER, THAT SUCH INDEMNITY SHALL NOT APPLY TO ACTIONS WHICH HAVE BEEN
FINALLY, WITHOUT FURTHER RIGHT TO APPEAL, JUDICIALLY DETERMINED TO CONSTITUTE WILLFUL MISCONDUCT OR
BAD FAITH. IF THE INDEMNIFICATION PROVIDED FOR ABOVE IS NOT PERMITTED OR ENFORCEABLE UNDER
APPLICABLE LAW OR IS OTHERWISE UNAVAILABLE OR INSUFFICIENT TO HOLD HARMLESS THE INDEMNITEES AS
CONTEMPLATED ABOVE, THEN THE PARTNERSHIP SHALL CONTRIBUTE TO THE AMOUNT PAID OR PAYABLE BY THE
INDEMNITEES AS A RESULT OF SUCH LOSSES, COSTS, CLAIMS, LIABILITIES, DAMAGES AND EXPENSES REFERRED
TO ABOVE IN SUCH PROPORTION AS IS APPROPRIATE TO REFLECT THE RELATIVE BENEFITS CONTEMPLATED TO BE
RECEIVED BY THE PARTNERSHIP AND THE INDEMNITEES, RESPECTIVELY, FROM THE ACTIONS GIVING RISE TO SUCH
LOSSES, COSTS, CLAIMS, LIABILITIES, DAMAGES OR EXPENSES.

     6.04 Power of Attorney.

     (a) Each Limited Partner hereby constitutes and appoints the General Partner and, if a
liquidator (other than the General Partner) shall have been selected pursuant to Section
11.02, the liquidator, severally (and any successor to either thereof by merger, transfer,
assignment, election or otherwise) and each of their authorized officers and attorneys-in-fact, as
the case may be, with full power of substitution, as his true and lawful agent and
attorney-in-fact, with full power and authority in his name, place and stead, to:

     (i) execute, swear to, acknowledge, deliver, file and record in the appropriate public
offices (A) all certificates, documents and other instruments (including this Agreement and
the Certificate of Limited Partnership and all amendments or restatements hereof or thereof)
that the General Partner or the liquidator deems necessary or appropriate to form, qualify
or continue the existence or qualification of the Partnership as a limited partnership (or a
partnership in which the Limited Partners have limited liability) in the State of Delaware
and in all other jurisdictions in which the Partnership may conduct business or own
property; (B) all certificates, documents and other instruments that the General Partner or
the liquidator deems necessary or appropriate to reflect, in accordance with its terms, any
amendment, change, modification or restatement of this Agreement; (C) all certificates,
documents and other instruments

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(including conveyances and a certificate of cancellation)
that the General Partner or the liquidator deems necessary or appropriate to reflect the
dissolution and liquidation of the
Partnership pursuant to the terms of this Agreement; and (D) all certificates,
documents and other instruments relating to the admission, withdrawal, removal or
substitution of any Partner; and

     (ii) execute, swear to, acknowledge, deliver, file and record all ballots, consents,
approvals, waivers, certificates, documents and other instruments necessary or appropriate,
in the discretion of the General Partner or the liquidator, to make, evidence, give, confirm
or ratify any vote, consent, approval, agreement or other action that is made or given by
the Partners hereunder or is consistent with the terms of this Agreement or is necessary or
appropriate, in the discretion of the General Partner or the liquidator, to effectuate the
terms or intent of this Agreement; provided, that when required by any provision of this
Agreement that establishes a percentage of the Limited Partners required to take any action,
the General Partner and the liquidator may exercise the power of attorney made in this
Section 6.04 only after the necessary vote, consent or approval of the Limited
Partners.

This Section 6.04 shall be construed as authorizing the General Partner to amend this
Agreement in any manner subject to any provision of this Agreement that establishes a percentage of
the Limited Partners required to take any action.

     (b) The foregoing power of attorney is hereby declared to be irrevocable and a power coupled
with an interest, and it shall survive and, to the maximum extent permitted by law, not be affected
by the subsequent death, incompetency, disability, incapacity, dissolution, bankruptcy or
termination of any Limited Partner and the transfer of all or any portion of such Limited Partner’s
Percentage Interest and shall extend to such Limited Partner’s heirs, successors, assigns and
personal representatives. Each such Limited Partner hereby agrees to be bound by any
representation made by the General Partner or the liquidator acting in good faith pursuant to such
power of attorney; and each such Limited Partner, to the maximum extent permitted by law, hereby
waives any and all defenses that may be available to contest, negate or disaffirm the action of the
General Partner or the liquidator taken in good faith under such power of attorney. Each Limited
Partner shall execute and deliver to the General Partner or the liquidator, within 15 days after
receipt of the request therefor, such further designation, powers of attorney and other instruments
as the General Partner or the liquidator deems necessary to effectuate this Agreement and the
purposes of the Partnership.

ARTICLE VII

RIGHTS OF OTHER PARTNERS

     7.01 Information. In addition to the other rights specifically set forth herein, each
Partner shall have access to all information to which such Partner is entitled to have access
pursuant to Section 17-305 of the Act under the circumstances and subject to the conditions therein
stated. Without limiting the provisions of Section 17-305(b) of the Act, the Partners agree that
if the General Partner from time to time enters into on behalf of the Partnership or the General
Partner contractual obligations regarding the confidentiality of information received with respect
to the Partnership’s business or assets, it shall not be reasonable for any other

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Partner or
assignee or representative thereof to examine or copy such information unless such Partner agrees to
comply with the terms of such contractual obligations including without limitation executing a
counterpart of any applicable confidentiality agreements.

     7.02 Limitations. No Limited Partner shall have the authority or power in its
capacity as such to act for or on behalf of the Partnership or any other Partner, to do any act
that would be binding on the Partnership or any other Partner, or to incur any expenditures on
behalf of or with respect to the Partnership. No Limited Partner shall have the right or power to
withdraw from the Partnership.

     7.03 Limited Liability. No Limited Partner shall be liable for the losses, debts,
liabilities, contracts, or other obligations of the Partnership except to the extent required by
law or otherwise set forth herein.

ARTICLE VIII

TAXES

     8.01 Tax Returns. The General Partner shall cause to be prepared and filed all
necessary federal and state income tax returns for the Partnership, including making the elections
described in Section 8.02. Each Partner shall furnish to the General Partner all pertinent
information in its possession relating to Partnership operations that is necessary to enable such
income tax returns to be prepared and filed.

     8.02 Tax Elections. The following elections shall be made on the appropriate returns
of the Partnership:

     (a) to adopt the calendar year as the Partnership’s fiscal year;

     (b) unless the accrual method is required under the applicable sections of the Code, to adopt
the cash method of accounting and to keep the Partnership’s books and records on the income-tax
method;

     (c) if there shall be a distribution of Partnership property as described in Section 734 of
the Code or if there shall be a transfer of a Partnership interest as described in Section 743 of
the Code, upon written request of any Partner, to elect, pursuant to Section 754 of the Code, to
adjust the basis of Partnership properties;

     (d) to elect to amortize the organizational expenses of the Partnership ratably over a period
of 60 months as permitted by Section 709(b) of the Code; and

     (e) any other election the General Partner may deem appropriate and in the best interests of
the Partners.

No election shall be made by the Partnership or any Partner to be treated as an association taxable
as a corporation or to be excluded from the application of the provisions of Subchapter K of
Chapter 1 of Subtitle A of the Code or any similar provisions of applicable state laws.

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     8.03 Tax Matters Partner. The General Partner shall be the “tax matters partner” of
the Partnership pursuant to Section 6231(a)(7) of the Code. The General Partner shall take such
action as may be necessary to cause each other Partner to become a “notice partner” within the
meaning of Section 6223 of the Code. The General Partner shall inform each other Partner of all
significant matters that may come to its attention in its capacity as tax matters partner by giving
notice thereof within ten Business Days after becoming aware thereof and, within such time, shall
forward to each other Partner copies of all significant written communications it may receive in
such capacity. The General Partner shall not take any action contemplated by Sections 6222 through
6232 of the Code without the consent of a Required Interest. This provision is not intended to
authorize the General Partner to take any action left to the determination of an individual Partner
under Sections 6222 through 6232 of the Code.

ARTICLE IX

BOOKS, RECORDS, REPORTS, AND BANK ACCOUNTS

     9.01 Maintenance of Books. The books of account for the Partnership shall be
maintained on a cash basis in accordance with the terms of this Agreement except that the Capital
Accounts of the Partners shall be maintained in accordance with Section 4.04. The calendar
year shall be the accounting year of the Partnership.

     9.02 Financial Statements. Within 120 days after the end of each fiscal year during
the term of the Partnership, the General Partner shall cause each other Partner to be furnished
with an unaudited balance sheet, an income statement, and a statement of changes in Partners’
capital of the Partnership for, or as of the end of, such period. All financial statements shall
be prepared in accordance with accounting principles generally employed for cash-basis records
consistently applied (except as therein noted).

     9.03 Bank Accounts. The General Partner shall establish and maintain one or more
separate accounts for Partnership funds in the Partnership name at such financial institutions as
it may designate. The General Partner may not commingle the Partnership’s funds with other funds
of any Partner.

ARTICLE X

WITHDRAWAL, BANKRUPTCY, REMOVAL, ETC.

     10.01 Withdrawal, Bankruptcy, Etc. of General Partner.

     (a) The General Partner covenants and agrees that it will not withdraw from the Partnership as
the general partner within the meaning of Section 17-602 of the Act. If the General Partner shall
so withdraw from the Partnership in violation of such covenant and agreement, such withdrawal shall
be effective only upon 90 days’ prior notice to all other Partners.

     (b) The General Partner shall not cease to be a general partner on the occurrence of an event
of the type described in Section 17-402(a)(4) through (10) of the Act, but shall cease to be a
general partner 90 days thereafter. The General Partner shall notify each other Partner that an
event of the type described in Section 17-402(a)(4) through (10) of the Act has occurred

- 20 -

 

(without
regard to the lapse of any time periods therein) with respect to it within five Business Days after
such occurrence.

     (c) Following any notice pursuant to Section 10.01(a) that the General Partner shall
be withdrawing, or following the occurrence of an event of the type described in Section
17-402(a)(4) through (10) of the Act with respect to the General Partner (without regard to the
lapse of any time periods therein), and unless there shall be one other General Partner remaining,
the greater of the Class A Limited Partner plus a Required Interest of the Class B Limited Partners
or a majority in interest as defined in Internal Revenue Service Procedure 94-46 (or any successor
thereof) by written consent may select a new General Partner, which shall be admitted to the
Partnership as a general partner effective immediately prior to the existing General Partner’s
ceasing to be a general partner with such general partner interest as the Limited Partners making
such selection may specify, but only if such new General Partner shall have made such Capital
Contribution as such Limited Partners may specify and shall have executed and delivered to the
Partnership a document including such new General Partner’s notice address, acceptance of all the
terms and provisions of this Agreement, an agreement to perform and discharge timely all of its
obligations and liabilities hereunder, and a representation and warranty that the representation
and warranties in Section 3.02 are true and correct with respect to such new General
Partner. Notwithstanding the foregoing provisions of this Section 10.01(c), the right to
select such new General Partner shall not exist or be exercised unless the Partnership shall have
received the favorable opinion of the Partnership’s legal counsel or of other legal counsel
acceptable to the Limited Partners making such selection to the effect that such selection and
admission will not result in (i) the loss of limited liability of any Limited Partner (except to
the extent a Limited Partner has consented to become the General Partner) or (ii) in the
Partnership being treated as an association taxable as a corporation for federal income tax
purposes. Notwithstanding the foregoing provisions of this Section 10.01(c), no such new
General Partner shall be admitted (and the existing General Partner shall continue as such) if the
event that permitted the selection of a new General Partner shall have been an event of the type
described in Section 17-402(a)(5) of the Act that with the passage of time would cause the existing
General Partner to become a Bankrupt Partner but, due to the failure of such situation to continue,
such General Partner does not become a Bankrupt Partner.

     10.02 Conversion of Interest. Immediately upon the General
Partner’s ceasing to be General Partner following the
admission of a new General Partner pursuant to Section 10.01(c), the former General
Partner’s interest in the Partnership as a General Partner shall be converted into the interest of
a Limited Partner in the Partnership having the same economic rights as specified for the General
Partner herein immediately prior to its ceasing to be a General Partner, and such General Partner
shall automatically and without further action be admitted to the Partnership as a Limited Partner.

ARTICLE XI

DISSOLUTION, LIQUIDATION, AND TERMINATION

     11.01 Dissolution. The Partnership shall be dissolved and its affairs shall be wound
up upon the first to occur of any of the following:

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     (a) the written consent of the General Partner, the Class A Limited Partner and a Required
Interest;

     (b) unless otherwise agreed to by the General Partner, the Class A Limited Partner and a
Required Interest 30 days following the occurrence of the Vesting Date;

     (c) the end of the term of the Partnership as set forth in Section 2.06;

     (d) the General Partner’s ceasing to be the General Partner as described in Section
10.01(b) with no new General Partner having been selected and admitted as provided in
Section 10.01(c); or

     (e) any other event causing dissolution as described in Section 17-801 of the Act (other than
an event described in Section 17-402(a)(4) through (10) of the Act, except as provided in
Sections 10.01(b) and 11.01(d));

it being understood that if an “event of withdrawal of a general partner” (as defined in Section
17-101(3) of the Act) shall occur with respect to the General Partner and at least one other
General Partner shall have been or is about to be admitted pursuant to Section 3.03(b),
10.01(c), or 10.02, the Partnership shall not dissolve but shall continue and the
remaining General Partner shall, and hereby agrees to, carry on the business of the Partnership.

     11.02 Liquidation and Termination. Upon dissolution of the Partnership, unless it is
continued as provided in Section 11.01, the General Partner shall act as liquidator or may
appoint one or more other Persons as liquidator; provided, however, that if the Partnership shall
be dissolved on account of an event of the type described in Section 17-402(a)(4) through (10) of
Act with respect to the General Partner, the liquidator shall be one or more Persons selected in
writing by the Class A Limited Partner and a Required Interest. The liquidator shall proceed
diligently to wind up the affairs of the Partnership and make final distributions as provided
herein, and shall file any amendments to the Certificate as may be required by applicable law. The
costs of liquidation shall be borne as a Partnership expense. Until final distribution, the
liquidator shall continue to manage the
Partnership assets with all of the power and authority of the General Partner. The steps to
be accomplished by the liquidator are as follows:

     (a) as promptly as possible after dissolution and again after final liquidation, the
liquidator shall cause a proper accounting to be made by a recognized firm of certified public
accountants of the Partnership’s assets, liabilities, and operations through the last day of the
calendar month in which the dissolution shall have occurred or the final liquidation shall be
completed, as applicable;

     (b) the liquidator shall pay all of the debts and liabilities of the Partnership (including,
without limitation, all expenses incurred in liquidation and any advances made by the General
Partner pursuant to Section 4.03) or otherwise make adequate provision therefor (including,
without limitation, the establishment of a cash escrow fund for contingent liabilities in such
amount and for such term as the liquidator may reasonably determine); and

     (c) all remaining assets of the Partnership shall be distributed to the Partners as follows:

- 22 -

 

     (i) the fair market value of the property shall be determined and the capital accounts
of the Partners shall be adjusted to reflect the manner in which the unrealized income,
gain, loss, and deduction inherent in such property (that has not been reflected in the
capital accounts previously) would be allocated among the Partners if there were a taxable
disposition of such property for the fair market value of such property on the Vesting Date;
and

     (ii) the Partnership property shall be distributed among the Partners in accordance
with the positive capital account balances of the Partners, as determined after taking into
account all capital account adjustments for the taxable year of the Partnership during which
the liquidation of the Partnership occurs (other than those made by reason of this clause);
and such distributions shall be made by the end of the taxable year of the Partnership
during which the liquidation of the Partnership occurs (or, if later, within 90 days after
the date of such liquidation). While the General Partner has the right to sell EPE Units as
noted in Section 5.04, and subject to the restrictions set forth in Section
5.05, it is the intent of the General Partner upon liquidation and termination of the
Partnership to distribute EPE Units to the Partners rather than sell the EPE Units and
distribute the cash proceeds of such sale to the Partners.

For purposes of this Section 11.02(c), the “fair market value” of each EPE Unit held by the
Partnership on the Vesting Date shall be equal to the average of the closing sale prices per EPE
Unit for the 20 trading days ending on the Vesting Date (or, if no closing sale price is reported,
the average of the bid and asked prices) as reported in the composite transactions for the
principal United States securities exchange on which the EPE Units are traded or if the EPE Units
are not listed on a national or regional stock exchange, as reported by The NASDAQ National Market.
All distributions in kind to the Partners shall be made subject to the liability of each
distributee for costs, expenses, and liabilities theretofore incurred or for which the Partnership
shall have committed prior to the date of termination and such costs, expenses, and liabilities
shall be allocated to such distributee pursuant to this Section 11.02. The distribution of
property to a Partner in accordance with the provisions of this Section 11.02 shall
constitute a complete return to the Partner of its Capital Contributions and a complete
distribution to the Partner of its interest in the Partnership and all the Partnership’s property
and shall constitute a compromise to which all Partners have consented within the meaning of
Section 17-502(b) of the Act.

     11.03 Cancellation of Certificate. Upon completion of the distribution of Partnership
assets as provided herein, the Partnership shall be terminated, and the General Partner (or, if
there shall be no General Partner, the Limited Partners) shall cause the cancellation of the
Certificate and any other filings made pursuant to Section 2.05 and shall take such other
actions as may be necessary to terminate the Partnership.

ARTICLE XII

GENERAL PROVISIONS

     12.01 Offset. In the event that any sum is payable to any Partner pursuant to this
Agreement, any amounts owed by such Partner to the Partnership shall be deducted from said sum
before payment to said Partner.

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     12.02 Notices. All notices or requests or consents provided for or permitted to be
given pursuant to this Agreement must be in writing and must be given (a) by depositing same in the
United States mail, addressed to the Person to be notified, postpaid, and registered or certified
with return receipt requested or (b) by delivering such notice by courier or in person to such
party. Notices given or served pursuant hereto shall be effective two Business Days after such
deposit, or upon receipt if delivered in person to the person to be notified. All notices to be
sent to a Partner shall be sent to or made at the address given on the Power of Attorney executed
by the Partner and delivered to the General Partner on the date hereof or in the instrument
described in Section 3.03(c), 3.04, or 10.01(c), or such other address as
such Partner may specify by notice to the General Partner. Any notice to the Partnership shall be
given to the General Partner.

     12.03 Entire Agreement; Supersedure. This Agreement constitutes the entire agreement
of the Partners relating to the matters contained herein and supersedes all prior contracts or
agreements, whether oral or written, among the parties hereto with respect to such matters.

     12.04 Effect of Waiver or Consent. No waiver or consent, express or implied, by any
Person with respect to any breach or default by any other Person of its obligations hereunder shall
be deemed or construed to be a consent or waiver with respect to any other breach or default by
such other Person of the same or any other obligations of such other Person hereunder. Failure on
the part of any Person to
complain of any act or omission of any other Person, or to declare any other Person in
default, irrespective of how long such failure continues, shall not constitute a waiver by such
Person of its rights hereunder until the applicable limitation period has run.

     12.05 Amendment or Modification. This Agreement may be amended or modified from time
to time only by a written instrument executed by the General Partner; provided, however, that (a)
the vesting and distribution provisions of this Agreement may be amended or modified only by a
written instrument executed by the General Partner, the Class A Limited Partner and a Required
Interest, and (b) no amendment or modification reducing a Partner’s Sharing Points (other than to
reflect changes otherwise provided hereby) or increasing its duties or adversely affecting its
limited liability shall be effective without such Partner’s consent.

     12.06 Binding Effect; Joinder of Additional Parties. Subject to the restrictions on
Dispositions set forth herein, this Agreement shall be binding upon and shall inure to the benefit
of the Partners, as well as the respective heirs, legal representatives, successors, and assigns of
such Partners.

     12.07 Construction. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF DELAWARE, EXCLUDING ANY CONFLICTS-OF-LAW RULE OR PRINCIPLE THAT MIGHT
REFER THE GOVERNANCE OR CONSTRUCTION OF THIS AGREEMENT TO THE LAWS OF ANOTHER JURISDICTION. The
headings in this Agreement are inserted for convenience and identification only and are not
intended to describe, interpret, define, or limit the scope, extent, or intent of this Agreement or
any provision hereof. Whenever the context requires, the gender of all words used in this
Agreement shall include the masculine, feminine, and neuter. All references to Articles and
Sections refer to articles and sections of this Agreement. All sums and amounts payable or to be
payable pursuant to the provisions of this Agreement shall be payable

- 24 -

 

in coin or currency of the
United States of America that, at the time of payment, is legal tender for the payment of public
and private debts in the United States of America. If any provision of this Agreement or the
application thereof to any Person or circumstance shall be held invalid or unenforceable to any
extent, the remainder of this Agreement and the application of such provision to other Persons or
circumstances shall not be affected thereby and shall be enforced to the greatest extent permitted
by law.

     12.08 Further Assurances. In connection with this Agreement, as well as all
transactions contemplated by this Agreement, each Partner agrees to execute and deliver such
additional documents and instruments and to perform such additional acts as may be necessary or
appropriate to effectuate, carry out, and perform all of the terms, provisions, and conditions of
this Agreement and all such transactions.

     12.09 Indemnification. To the fullest
extent permitted by law, each Partner shall indemnify the Partnership and
each other Partner and hold them harmless from and against all losses, costs, liabilities, damages,
and expenses (including, without limitation, costs of suit and attorney’s fees) they may incur on
account of any breach by such indemnifying Partner of this Agreement.

     12.10 Waiver of Certain Rights. Each Partner irrevocably waives any right it might
have to maintain any action for dissolution of the Partnership or to maintain any action for
partition of the property of the Partnership.

     12.11 Counterparts. This Agreement may be executed in any number of counterparts with
the same effect as if all signatory parties had signed the same document. All counterparts shall
be construed together and shall constitute one and the same instrument.

     12.12 Dispute Resolution. (a) If the General Partner and one or more Limited Partners
are unable to resolve any controversy, dispute, claim or other matter in question arising out of,
or relating to, this Agreement, any provision hereof, the alleged breach hereof, or in any way
relating to the subject matter of this Agreement, or the relationship between the parties created
by this Agreement, including questions concerning the scope and applicability of this Section
12.12, whether sounding in contract, tort or otherwise, at law or in equity, under state or
federal law, whether provided by statute or common law, for damages or any other relief (any such
controversy, dispute, claim or other matter in question, a “Dispute”), on or before the
30th day following the receipt by the General Partner or such Limited Partners of written notice of
such Dispute from the other party, which notice describes in reasonable detail the nature of the
Dispute and the facts and circumstances relating thereto, the General Partner or such Limited
Partners may, by delivery of written notice to the other party, require that a representative of
the General Partner and of such Limited Partners meet at a mutually agreeable time and place in an
attempt to resolve such Dispute. Such meeting shall take place on or before the 15th day following
the date of the notice requiring such meeting, and if the Dispute has not been resolved within 15
days following such meeting, the General Partner or such Limited Partners may cause such Dispute to
be resolved by binding arbitration in Houston, Texas, by submitting such Dispute for arbitration
within 30 days following the expiration of such 15-day period. This agreement to arbitrate shall
be specifically enforceable against the parties.

- 25 -

 

     (b) It is the intention of the parties that the arbitration shall be governed by and conducted
pursuant to the Federal Arbitration Act, as such Act is modified by this Section 12.12. If
it is determined the Federal Arbitration Act is not applicable to this Agreement (e.g., this
Agreement does not evidence a transaction involving interstate commerce), this agreement to
arbitrate shall nevertheless be enforceable pursuant to applicable State law. While the
arbitrators may refer to the Commercial Arbitration Rules of the American Arbitration Association
(the “Rules”) for guidance with respect to procedural matters, the arbitration proceeding
shall not be administered by the American Arbitration Association but instead shall be
self-administered by
the parties until the arbitrators are selected and then the proceeding shall be administered
by the arbitrators.

     (c) The validity, construction, and interpretation of this agreement to arbitrate, and all
procedural aspects of the arbitration conducted pursuant to this agreement to arbitrate, including
but not limited to, the determination of the issues that are subject to arbitration (i.e.,
arbitrability), the scope of the arbitrable issues, allegations of “fraud in the inducement” to
enter into this Agreement or this arbitration provision, allegations of waiver, laches, delay or
other defenses to arbitrability, and the rules governing the conduct of the arbitration (including
the time for filing an answer, the time for the filing of counterclaims, the times for amending the
pleadings, the specificity of the pleadings, the extent and scope of discovery, the issuance of
subpoenas, the times for the designation of experts, whether the arbitration is to be stayed
pending resolution of related litigation involving third parties not bound by this arbitration
agreement, the receipt of evidence, and the like), shall be decided by the arbitrators.

     (d) The rules of arbitration of the Federal Arbitration Act, as modified by this Agreement,
shall govern procedural aspects of the arbitration; to the extent the Federal Arbitration Act as
modified by this Agreement does not address a procedural issue, the arbitrators may refer for
guidance to the Commercial Arbitration Rules then in effect with the American Arbitration
Association. The arbitrators may refer for guidance to the Federal Rules of Civil Procedure, the
Federal Rules of Civil Evidence, and the federal law with respect to the discovery process,
applicable legal privileges, and admissible evidence. In deciding the substance of the parties’
Dispute, the arbitrators shall refer to the substantive laws of the State of Delaware for guidance
(excluding Delaware’s conflict-of-law rules or principles that might call for the application of
the law of another jurisdiction); provided, however, IT IS EXPRESSLY AGREED THAT NOTWITHSTANDING
ANY OTHER PROVISION IN THIS SECTION 12.12 TO THE CONTRARY, THE ARBITRATORS SHALL HAVE
ABSOLUTELY NO AUTHORITY TO AWARD CONSEQUENTIAL DAMAGES (SUCH AS LOSS OF PROFIT), TREBLE, EXEMPLARY
OR PUNITIVE DAMAGES OF ANY TYPE UNDER ANY CIRCUMSTANCES REGARDLESS OF WHETHER SUCH DAMAGES MAY BE
AVAILABLE UNDER DELAWARE LAW, THE LAW OF ANY OTHER STATE, OR FEDERAL LAW, OR UNDER THE FEDERAL
ARBITRATION ACT, OR UNDER THE COMMERCIAL ARBITRATION RULES OF THE AMERICAN ARBITRATION ASSOCIATION.
The arbitrators shall have the authority to assess the costs and expenses of the arbitration
proceeding (including the arbitrators’ fees and expenses) against either or both parties. However,
each party shall bear its own attorneys fees and the arbitrators shall have no authority to award
attorneys fees.

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     (e) When a Dispute has been submitted for arbitration, within 30 days of such submission, the
General Partner will choose an arbitrator, and such Limited Partners will choose an arbitrator.
The two arbitrators shall select a third arbitrator, failing agreement on which within 90 days of
the original notice, the General Partner and such Limited Partners (or either of them) shall apply
to any United States District Judge for the Southern District of Texas, who shall appoint the third
arbitrator. While the third arbitrator shall be neutral, the two party-appointed arbitrators are
not required to be neutral and it shall not be grounds for removal of either of the two
party-appointed arbitrators or for vacating the arbitrators’ award that either of such arbitrators
has past or present minimal relationships with the party that appointed such
arbitrator. Evident partiality on the part of an arbitrator exists only where the
circumstances are such that a reasonable person would have to conclude there in fact existed actual
bias and a mere appearance or impression of bias will not constitute evident partiality or
otherwise disqualify an arbitrator. Minimal or trivial past or present relationships between the
neutral arbitrator and the party selecting such arbitrator or any of the other arbitrators, or the
failure to disclose such minimal or trivial past or present relationships, will not by themselves
constitute evident partiality or otherwise disqualify any arbitrator. Upon selection of the third
arbitrator, each of the three arbitrators shall agree in writing to abide faithfully by the terms
of this agreement to arbitrate. The three arbitrators shall make all of their decisions by
majority vote. If one of the party-appointed arbitrators refuses to participate in the proceedings
or refuses to vote, the decision of the other two arbitrators shall be binding. If an arbitrator
dies or becomes physically incapacitated and is unable to fulfill his or her duties as an
arbitrator, the arbitration proceeding shall continue with a substitute arbitrator selected as
follows: if the incapacitated arbitrator is a party-appointed arbitrator, the party shall promptly
select a new arbitrator, and if the incapacitated arbitrator is the neutral arbitrator, the
two-party appointed arbitrators shall select a substitute neutral arbitrator, failing agreement on
which the General Partner and such Limited Partners (or either of them) shall apply to any United
States District Judge for the Southern District of Texas, who shall appoint the substitute neutral
arbitrator.

     (f) The final hearing shall be conducted within 120 days of the selection of the third
arbitrator. The final hearing shall not exceed ten working days, with each party to be granted
one-half of the allocated time to present its case to the arbitrators. There shall be a transcript
of the hearing before the arbitrators. The arbitrators shall render their ultimate decision within
20 days of the completion of the final hearing completely resolving all of the Disputes between the
parties that are the subject of the arbitration proceeding. The arbitrators’ ultimate decision
after final hearing shall be in writing, but shall be as brief as possible, and the arbitrators
shall assign their reasons for their ultimate decision. In the case the arbitrators award any
monetary damages in favor of either party, the arbitrators shall certify in their award that they
have not included any treble, exemplary or punitive damages.

     (g) The arbitrators’ award shall, as between the parties to this Agreement and those in
privity with them, be final and entitled to all of the protections and benefits of a final
judgment, e.g., res judicata (claim preclusion) and collateral estoppel (issue preclusion), as to
all Disputes, including compulsory counterclaims, that were or could have been presented to the
arbitrators. The arbitrators’ award shall not be reviewable by or appealable to any court, except
to the extent permitted by the Federal Arbitration Act.

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     (h) It is the intent of the parties that the arbitration proceeding shall be conducted
expeditiously, without initial recourse to the courts and without interlocutory appeals of the
arbitrators’ decisions to the courts. However, if a party refuses to honor its obligations under
this agreement to arbitrate, the other party may obtain appropriate relief compelling arbitration
in any court having jurisdiction over the parties; the order compelling arbitration shall require
that the arbitration proceedings take place in Houston, Texas, as specified above. The parties may
apply to any court for orders requiring witnesses to obey subpoenas issued by the arbitrators.
Moreover, any and all of the arbitrators’ orders and decisions may be enforced if necessary by any
court. The arbitrators’ award may be confirmed in, and judgment upon the award entered by, any
federal or State court having jurisdiction over the parties.

     (i) To the fullest extent permitted by law, this arbitration proceeding and the arbitrators
award shall be maintained in confidence by the parties. However, a violation of this covenant
shall not affect the enforceability of this arbitration agreement or of the arbitrators’ award.

     (j) A party’s breach of this Agreement shall not affect this agreement to arbitrate.
Moreover, the parties’ obligations under this arbitration provision are enforceable even after this
Agreement has terminated. The invalidity or unenforceability of any provision of this arbitration
agreement shall not affect the validity or enforceability of the parties’ obligation to submit
their Disputes to binding arbitration or the other provisions of this agreement to arbitrate.

     12.13 No Effect on Employment Relationship. Nothing in this Agreement shall confer
upon any employee of the General Partner or any Affiliate thereof any right to continued employment
nor shall it interfere in any way with the right of the General Partner or any of its Affiliates to
terminate the employment of any employee at any time.

     12.14 Legal Representation. This Agreement and related documents have been prepared
by Andrews Kurth LLP, as counsel for the General Partner, and not as counsel for any other Partner
or the Partnership. Each party other than the General Partner has been advised to seek independent
counsel in connection with this Agreement and the related documents.

[Signature Pages to Follow.]

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     IN WITNESS WHEREOF, the Partners have executed this Agreement as of the date first set forth
above.

	 	 	 	 	 
	GENERAL PARTNER:                          	EPCO, INC.

 	 
	 	By:  	/s/ Richard H. Bachmann
 	 
	 	 	Richard H. Bachmann 	 
	 	 	Executive Vice President 	 
	 
	CLASS A LIMITED PARTNER:                  	DUNCAN FAMILY INTERESTS, INC.

 	 
	 	By:  	/s/ Mary S. Stawikey
 	 
	 	 	Mary S. Stawikey 	 
	 	 	Secretary 	 
	 
	CLASS B LIMITED PARTNERS: 	All Class B Limited Partners initially admitted as Class B Limited Partners of the Partnership, pursuant to Powers of Attorney executed in favor of, and granted and delivered to the General Partner

By:   EPCO, INC.

(As attorney-in-fact for the Class B Limited

Partners pursuant to powers of attorney)

 	 
	 	 	 
	 	By:  	                                                       /s/ Richard H. Bachmann
 	 
	 	 	Richard H. Bachmann 	 
	 	 	Executive Vice President 	 
	 

Agreement of Limited Partnership of EPE Unit III, L.P.

 

 

Exhibit A

FORM OF POWER OF ATTORNEY

For Executing Agreement of Limited Partnership of EPE Unit III, L.P.

     Know all by these presents, that the undersigned hereby constitutes and appoints EPCO, Inc.
and its authorized representatives the undersigned’s true and lawful attorney-in-fact to:

	 	(1)	 	execute for and on behalf of the undersigned as a limited partner thereunder
that certain Agreement of Limited Partnership of EPE Unit III, L.P. (the
“Partnership Agreement”);
	 
	 	(2)	 	take any other action of any type whatsoever in connection with the foregoing
that, in the opinion of each such attorney-in-fact, may be of benefit to, in the best
interest of, or legally required of the undersigned, it being understood that the
documents executed by the attorney-in-fact on behalf of the undersigned pursuant to
this Power of Attorney shall be in such form and shall contain such terms and
conditions as the attorney-in-fact may approve in the attorney-in-fact’s discretion.

     The undersigned hereby grants to each attorney-in-fact full power and authority to do and
perform all and every act and thing whatsoever requisite, necessary or proper to be done in the
exercise of any of the rights and powers herein granted, as fully to all intents and purposes as
the undersigned might or could do if personally present, with full power of substitution or
revocation, hereby ratifying and confirming all that the attorney-in-fact, or the attorney-in-facts
substitute or substitutes, shall lawfully do or cause to be done by virtue of this Power of
Attorney and the rights and powers herein granted.

     The undersigned acknowledges and agrees by execution of this Power of Attorney that the
undersigned’s initial Sharing Points (as defined in the Partnership Agreement) under the
Partnership Agreement equal                     , which represents           % of the
total initial Sharing Points
granted by the General Partner pursuant to the Partnership Agreement.

     IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of the
date written below.

	 	 	 
	 

	 	 
	 

	 	Signature
	 
	 	 
	 

	 	 
	 

	 	Type or Print Name
	 
	 	 
	 

	 	 
	 

	 	Date

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