Document:

Exhibit
10.1

 

ASSET PURCHASE AGREEMENT

This Asset Purchase Agreement (this “Agreement”),
dated as of June [  ], 2006 (the “Effective
Date”), is executed by and among NCS I, LLC, a Delaware limited liability
company (“NCS”), and AMRESCO SBA Holdings, Inc., a Delaware
corporation (“ASBA”), (NCS and ASBA are referred to herein collectively
as “Sellers”), American Business Lending, Inc., a Texas corporation
(the “Purchaser”), FirstCity Business Lending Corporation, a Texas
corporation (“FirstCity BLC”), and FirstCity Financial Corporation, a
Delaware corporation (“FirstCity”).

RECITALS

A.            Sellers
desire to sell the unguaranteed portion of certain business loans, portions of
which are guaranteed by the U.S. Small Business Administration (the “SBA”),
certain loan servicing rights and obligations including certain fees to be
earned on the portion of such loans that are guaranteed by the SBA and a
franchise (“SBLC License”) granted by the SBA to originate and service
loans as a small business lending company (“SBLC”); and

B.            Purchaser
desires to acquire from Sellers the unguaranteed portions of such loans, such
loan servicing rights and fees, and to acquire from Sellers the SBLC License.

AGREEMENT

NOW THEREFORE, in consideration of the mutual
agreements and covenants contained herein and for other good and valuable
consideration, the receipt and sufficiency of which are hereby acknowledged,
the Parties hereto agree as follows:

Article 1

ASSIGNMENTS
AND TRANSFERS OF ASSETS

Section 1.1             Loan Assets. Subject to the terms and conditions
set forth herein, on the Closing Date, Sellers shall sell, assign and transfer
to Purchaser, and Purchaser shall purchase from Sellers, a portfolio of the
unguaranteed portions of the existing 7(a) SBA Loans identified on
Schedule 1.1(a) (the “Transferred Loans”) and certain Certificates
of Interest with respect to the unguaranteed portion of certain loans
guaranteed and serviced by the SBA and identified on Schedule 1.1(b) (the “Loan
Certificates”), in each case, to the extent outstanding on the Closing Date.
The Transferred Loans, the loan documents pertaining thereto as identified on
Schedule 2.8 and the Loan Certificates are collectively referred to herein as
the “Loan Assets.”

Section 1.2             SBLC License and Loan Servicing Rights. Subject
to the terms and conditions set forth herein, Sellers shall sell, assign and
transfer to Purchaser, and Purchaser shall purchase from Sellers, (a) the
SBLC License, and (b) the contract rights, duties and obligations (the “Loan
Servicing Rights”) of ASBA as Servicer (and only ASBA’s rights as Servicer
and not ASBA’s rights as “Seller”, a “Certificate Holder” or “Spread Account
Depositer”) under the Pooling and Servicing Agreements identified on Schedule
1.2(b) (the “Pooling and Servicing Agreements”), including, subject
to the Subservicer Agreement (as hereinafter defined), the right 

 ASSET PURCHASE AGREEMENT – PAGE 1
 

 

to receive all Servicing Fees with respect to the loans serviced under
the Pooling and Servicing Agreements after the Closing Date (the “Securitized
Loans”). Notwithstanding the foregoing, Sellers hereby retain and reserve
from such assignment all rights of Servicer under Section 11.01 of the
Pooling and Servicing Agreements, including the right to terminate each Pooling
and Servicing Agreement and to purchase interests in the SBA Loans and
Foreclosed Properties in connection with such termination. Any exercise of such
right to purchase shall be for the sole and exclusive benefit of one or more of
the Sellers and Sellers shall have no obligation to Purchaser with respect to
any such termination or purchase; provided that upon the exercise of such right
to purchase, Sellers shall cause the SBA Loans and Foreclosed Properties
acquired in connection with such purchase to continue to be serviced by BLX
pursuant to the Subservicer Agreement or, with the prior written consent of the
SBA, by another loan servicer qualified to service loans guaranteed by the SBA.
In addition, Purchaser agrees that it shall not exercise any right of Servicer
under Section 11.01 of the Pooling and Servicing Agreements and Purchaser
shall cooperate fully with Sellers with respect to any exercise of the rights
of Servicer under Section 11.01 of the Pooling and Servicing Agreements.

Section 1.3             Delivery of the Transferred Assets. The SBLC
License, the Loan Servicing Rights and the Loan Assets are referred to herein
as the “Transferred Assets.” 
Subject to the terms and conditions set forth herein, on the Closing
Date, Sellers shall execute and deliver to Purchaser, at no additional cost to
Purchaser, the following instruments of transfer and assignment of the
Transferred Assets (collectively, the “Transfer and Assignment Documents”),
each of which shall be in form and substance satisfactory to Purchaser:  (a) an Assignment of SBLC License (the “License
Assignment”); (b) an Assignment Agreement and Transfer of Loan
Servicing Rights (the “Loan Servicing Assignment”), (c) an
assignment of ASBA’s rights, duties and obligations under the Lenders Service
Provider Agreement, dated as of October 30, 2002 between Business Loan
Center, Inc. (“BLX”), ASBA, for itself and as successor in interest
by merger to AMRESCO Independence Funding, Inc. (the “Subservicer
Agreement”), (d) an Assignment of Loan Assets (the “Loan Assets
Assignment”) and (e) a bill of sale,
power(s) of attorney, note allonges or other such additional documents as
may be required to legally transfer and assign the Loan Assets. Sellers will also deliver to Purchaser any physical
document representing the SBLC License.

Section 1.4             Purchase Price for Transferred Assets. Subject to
the terms and conditions set forth therein, on the Closing Date, as the
purchase price (the “Purchase Price”) for the Transferred Assets,
Purchaser shall (a) pay $240,000 in cash to Sellers by wire transfer of
immediately available funds, (b) issue to ASBA a Secured Note in the form
attached hereto has Exhibit 1.4 (the “Secured Note”) in an initial
principal amount equal to the Stated Amount, which Secured Note will be secured
by the Transferred Assets (other than the SBLC License) pursuant to the terms
of the Security Agreement and (c) execute and deliver to Sellers the
Security Agreement (as defined below). Payment of the cash portion of the
Purchase Price shall be made by wire transfer of immediately available funds to
an account or accounts designated in writing by the Sellers.

Section 1.5             Changes in Loan Assets. Purchaser acknowledges
that after the date hereof, and prior to the Closing Date, the aggregate value
of the Loan Assets may change as a result of, among other things, payments received
on the Loan Assets and that, subject to SBA 

 ASSET PURCHASE AGREEMENT – PAGE 2
 

 

approval, Seller may sell or make other dispositions of some or all of
the Loan Assets identified therein, to one or more Persons other than Purchaser.
Purchaser acknowledges that after the Effective Date and after the Closing
Date, BLX shall continue to service the Transferred Loans and initially collect
certain fees pursuant to the Subservicer Agreement and shall continue to
receive, accept and process payments on the Loan Assets in accordance with the
Subservicing Agreement. At any time after the Closing Date, the Purchaser
shall, at Seller’s request and subject to SBA approval, sell any Loan Asset
specified by Seller on such terms and conditions and to such Persons as Seller
may specify from time to time and at any time; provided that Purchaser is
indemnified by Seller pursuant to an indemnity substantially identical the
indemnity set forth in Section 6.2.

Section 1.6             No Assumption of Liabilities. Purchaser is
purchasing only the Transferred Assets from Sellers and the Transferred Assets
are to be conveyed to Purchaser free and clear of all Liens. Purchaser assumes (i) the
obligation to service the Serviced Assets after the Closing Date subject to and
in accordance with the requirements of the Subservicer Agreement and SBA Rules and
Regulations, as applicable and (ii) any other obligation expressly assumed
by Purchaser in any Closing Agreement to which it is a party.

Section 1.7             Security Agreement. To secure the obligations of
Purchaser to ASBA under the Secured Note, on the Closing Date, Purchaser shall
execute and deliver to ASBA a Security Agreement in the form attached hereto as
Exhibit 1.7(a) (the “Security Agreement”) and execute and
deliver and otherwise perform all other actions required to be done on the
Closing Date pursuant to the Security Agreement.

Section 1.8             Closing. The closing of the transactions
contemplated by this Agreement (the “Closing”) shall take place at the
offices of Fulbright & Jaworski L.L.P., 2200 Ross Avenue, Suite 2800,
Dallas, Texas  75201, or such other place
as Sellers and Purchaser may mutually agree, at 9:00 AM, Dallas, Texas time, on
or before September 30, 2006, or on an earlier date by mutual agreement of
Purchaser and Sellers, but, in any event, not later than ten Business Days
after the satisfaction of each of the conditions set forth in Article 5
(the “Closing Date”).

Article 2

REPRESENTATIONS AND WARRANTIES OF
SELLERS

To induce Purchaser to enter into and perform this
Agreement, Sellers jointly and severally represent and warrant to Purchaser as
follows on the date hereof and on the Closing Date.

Section 2.1             Organization and Qualification of Sellers. Each
Seller is a corporation (or limited liability company, as applicable) duly
organized, validly existing and in good standing under the laws of the
jurisdiction of its organization. Each Seller is duly licensed or qualified to
do business and in good standing in each jurisdiction in which the ownership or
use of its assets or conduct of its business requires it to be so qualified or
licensed and in good standing except where any such failure to be so qualified
or licensed and in good standing would not, individually or in the aggregate,
have a Material Adverse Effect.

 ASSET PURCHASE AGREEMENT – PAGE 3
 

 

Section 2.2             Authority. Each Seller has the corporate (or
limited liability company, as applicable) power and authority to own its assets
including, as applicable, the SBLC License, the Loan Servicing Rights and the
Loan Assets, and to conduct its business as currently conducted. Each Seller
has the requisite corporate (or limited liability company, as applicable) power
and authority to execute, deliver and perform its respective obligations under
this Agreement and the Closing Agreements to which it is a party. The execution
and delivery by each Seller, and performance by each Seller of its respective
obligations under, this Agreement and the Closing Agreements to which it is a
party and the transactions contemplated hereby and thereby have been duly
authorized by all necessary corporate (or limited liability company, as
applicable) action on the part of such Seller and its respective stockholders,
boards, managers or members, as applicable.

Section 2.3             No Consents and Approvals. Except as set forth on
Schedule 2.3 (collectively, the “Required Consents”), the execution and
delivery of this Agreement by Sellers does not, and (assuming satisfaction of
the conditions set forth in Article 5) the performance of this Agreement
by Sellers and the consummation by Sellers of the transactions contemplated
hereby will not:  (i) violate any
provision of the certificate of incorporation or bylaws (or any comparable
organization document) of Sellers; (ii) conflict with or violate any Law,
judicial or administrative order, writ, award, judgment, injunction or decree
to which any Seller is subject; (iii) require Sellers to make any filing
with, obtain any permit, consent, license or approval of, or give any notice
to, any Governmental Authority; (iv) result in any breach of or constitute
a default (or an event that with notice or lapse of time or both would become a
default) under, or give to others any rights of termination, amendment,
acceleration or cancellation of, or right to require repurchase, pursuant to,
any material contract to which any Seller is a party or by which any of its
properties is bound or affected; or (v) result in the creation of any Lien
on any of the Transferred Assets (other than the Lien contemplated by the
Security Agreement), except, in the case of clauses (ii), (iii), and (iv) for
such conflicts, violations, filings, permits, consents, licenses, approvals,
notices, breaches or conflicts that would not (a) have a Material Adverse
Effect or impair the validity or enforceability of this Agreement, any Closing
Agreement or any Transferred Asset or (b) prohibit any Seller from
consummating the transactions contemplated by this Agreement or the Closing
Agreements to which it is a party or performing its obligations hereunder or
thereunder.

Section 2.4             Enforceability. Each of this Agreement and the
Closing Agreements to which any one or more of Sellers is a party have been and
will be duly executed and delivered by such Parties, and (assuming due
authorization, execution and delivery by each other party thereto, if
applicable) each of this Agreement and the Closing Agreements constitutes and
will constitute the legal, valid and binding obligations of Sellers,
enforceable against Sellers in accordance with the terms thereof, except as the
same may be limited by (i) bankruptcy, insolvency, reorganization, moratorium
or other similar Laws affecting generally the enforcement of creditors’ rights
and (ii) general principles of equity (regardless of whether
enforceability is considered in a proceeding in equity or at law).

Section 2.5             Title. Sellers possess and, subject to the
satisfaction of the conditions set forth herein, on the Closing Date Sellers
shall convey, sell and assign to Purchaser, legal, beneficial and valid title
to the Transferred Assets, free and clear of all Liens, restrictions on sale 

 ASSET PURCHASE AGREEMENT – PAGE 4
 

 

or transfer, preemptive rights, options or any other claims by any
Person (other than as contemplated by the Security Agreement); provided that
the assignment of Servicing Rights shall be subject to the Subservicer
Agreement.

Section 2.6             Litigation. There is no Action pending or, to the
knowledge of Sellers, threatened, against any Seller or any asset of any Seller
before any court, arbitrator or Governmental Authority, that (i) would
have a Material Adverse Effect, (ii) questions the legality, validity or
enforceability of this Agreement or any Closing Agreement or (iii) may
have the effect of delaying or preventing the consummation of the transactions
contemplated by this Agreement or any of the Closing Agreements. There is no
outstanding judgment, order or decree to which any Seller or any asset of any
Seller is subject that would have a Material Adverse Effect.

Section 2.7             Financial Statements. Attached as Exhibit 2.7
hereto are (i) the audited financial statements of Sellers as of and for
the period ended December 31, 2005 and (ii) the unaudited financial
statements of Sellers as of and for the three-month period ended March 31,
2006 (the “Interim Financial Statements”). The Interim Financial
Statements present fairly the consolidated financial position, results of operations,
and changes in financial position of Sellers as of the respective dates or for
the respective periods to which they apply in accordance with GAAP (except for
intercompany assets and liabilities, the absence of footnotes and normal
year-end adjustments), applied consistently.

Section 2.8             Loans. Schedule 2.8 attached hereto (the “Loan
Schedule”) contains a complete and accurate description of, as of the date
hereof (i) the Loan Assets, subject to any repayments or approved sales of
such Loan Assets after the date hereof, and (ii) the Securitized Loans
(the outstanding loans included in the Loan Assets and the Securitized Loans
are referred to collectively as the “Loans” and each individually, a “Loan”).
Each Loan is an SBA 7(a) Loan originated and serviced by Sellers in
accordance with SBA rules and regulations and for which an SBA guarantee
is in effect in the percentage and dollar amount set forth on the Loan Schedule.
The SBA guarantee on each Loan is valid and enforceable against SBA and, if presented
upon a default in the underlying Loan, will be honored by SBA without denial or
repair (other than any denial or repair arising after the Closing Date as a
result of actions or omissions by the Purchaser). Except as set forth on
Schedule 2.8, no Seller has actual knowledge that any Event of Default (or any
condition, occurrence or event that, after notice or lapse of time or both,
would constitute an Event of Default) has occurred and is continuing. “Event of
Default” shall mean the events and circumstances constituting an event of
default under the Loan Documents. Sellers have in their possession (through the
Subservicer or otherwise) the originals of all documents or instruments
constituting the Loan Documents, and the Loan Documents are the only agreements
containing the complete terms of the agreement between the Loan Obligors and
Sellers regarding the Loans and the Collateral.

 ASSET PURCHASE AGREEMENT – PAGE 5
 

 

Article 3

REPRESENTATIONS AND WARRANTIES OF PURCHASER

To induce Sellers to
enter into this Agreement, Purchaser represents and warrants to Sellers as
follows on the date hereof and on the Closing Date:

Section 3.1             Organization and Qualification of Purchaser. Purchaser
is a corporation duly organized, validly existing and in good standing under
the laws of the State of Texas. Purchaser is duly licensed or qualified to do
business and in good standing in each jurisdiction in which the ownership or
use of its assets or conduct of its business requires it to be so qualified or
licensed and in good standing except where any such failure to be so qualified
or licensed and in good standing would not, individually or in the aggregate,
have a Material Adverse Effect.

Section 3.2             Authority of Purchaser. Purchaser has the
requisite corporate right, power and authority to execute, deliver and perform
its obligations under this Agreement and the Closing Agreements to which it is
a party. The execution and delivery by Purchaser of, and the performance by
Purchaser of its obligations under, this Agreement, the Closing Agreements to
which it is a party and the transactions contemplated hereby and thereby have
been duly authorized by all necessary corporate action on the part of
Purchaser, its board, managers or members, as applicable.

Section 3.3             No Consents and Approvals. Except as set forth on
Schedule 3.3, the execution and delivery of this Agreement by Purchaser does
not, and (assuming satisfaction of the conditions set forth in Article 5)
the performance of this Agreement by Purchaser and the consummation by
Purchaser of the transactions contemplated hereby will not:  (i) violate any provision of the
organization documents of Purchaser; (ii) conflict with or violate any
Law, judicial or administrative order, writ, award, judgment, injunction or
decree to which Purchaser is subject; (iii) require Purchaser to make any
filing with, obtain any permit, consent, license or approval of, or give any
notice to, any Governmental Authority; (iv) result in any breach of or
constitute a default (or an event that with notice or lapse of time or both
would become a default) under, or give to others any rights of termination,
amendment, acceleration or cancellation of, or right to require repurchase,
pursuant to, any material contract to which Purchaser is a party or by which
any of its properties is bound or affected; or (v) result in the creation
of any Lien on any of Purchaser’s assets (other than as contemplated by the
Security Agreement), except, in the case of clauses (ii), (iii) and (iv) for
such conflicts, violations, filings, permits, consents, licenses, approvals,
notices, breaches or conflicts that would not (a) have a Material Adverse
Effect or impair the validity or enforceability of this Agreement, any Closing
Agreement or any Transferred Asset or (b) prohibit Purchaser from
consummating the transactions contemplated by this Agreement or the Closing
Agreements to which it is a party or performing its obligations hereunder or
thereunder.

Section 3.4             Enforceability. Each of this Agreement and the
Closing Agreements to which it is a party have been duly executed and delivered
by Purchaser, and (assuming due authorization, execution and delivery by each
other party thereto, if applicable) each of this Agreement and the Closing
Agreements to which it is a party constitutes the legal, valid and 

 ASSET PURCHASE AGREEMENT – PAGE 6
 

 

binding obligations of Purchaser, enforceable against Purchaser in
accordance with the terms thereof, except as the same may be limited by (i) bankruptcy,
insolvency, reorganization, moratorium or other similar Laws affecting
generally the enforcement of creditors’ rights and (ii) general principles
of equity (regardless of whether enforceability is considered in a proceeding
in equity or at law).

Section 3.5             Litigation. There is no Action pending or, to
Purchaser’s knowledge, threatened, against Purchaser, or any property or asset
of Purchaser, before any court, arbitrator or Governmental Authority, domestic
or foreign, which (i) questions the legality, validity or enforceability
of this Agreement or (ii) may have the effect of delaying or preventing
the consummation of the transactions contemplated by this Agreement or any of
the Closing Agreements.

Section 3.6             Financing and SBA Qualification. Purchaser has or
will have on the Closing Date sufficient funds to permit Purchaser to
consummate the transactions contemplated hereby and to satisfy all of the
conditions to qualification as an SBLC imposed by the SBA.

Article 4

COVENANTS OF SELLERS AND
PURCHASER

Section 4.1             Pre-Operational Period. FirstCity BLC covenants
and agrees that from and after the Effective Date until the Closing Date it
will make available to Purchaser advances in the form of working capital loans
(“Working Capital Loans”) under a line of credit in an aggregate outstanding
amount of not less than $325,000 on terms and conditions satisfactory to Seller.
Notwithstanding the foregoing, (i) in the event that Purchaser receives
written notice from the SBA of the rejection of its application for approval as
an SBA lender or (ii) Purchaser’s application to become an SBA lender has
not been approved or rejected by September 30, 2006, and in each case of
subclauses (i) and (ii) such rejection or failure to obtain approval
is not due directly or indirectly to FirstCity BLC’s or its officers’ failure
to meet the conditions set forth in the Code of Federal Regulations, Title 13, Section 120-140
or FirstCity BLC’s failure to cooperate with the SBA or diligently pursue SBA
approval, subject to Section 8.1 (Termination of Agreement), Sellers
jointly covenant and agree to pay to FirstCity BLC an amount (the “Pre-Operational
Period Termination Payment”) equal to fifty percent (50%) of the Purchaser’s
actual operating expenses  that are
incurred in accordance with the Purchaser Pre-Operational Budget attached
hereto as Exhibit 4.1 during the period from the Effective Date and ending
on the earlier of the date that Purchaser receives written notice from the SBA
of the rejection of its application as an SBA lender, or September 30,
2006. All amounts outstanding under the Working Capital Loans will be repaid on
the Closing Date from the proceeds of the equity contributions under Section 4.14
of this Agreement.

Section 4.2             Conduct of Business Pending the Closing. Sellers
covenant and agree that, from the Effective Date through the Closing Date each
Seller will (a) conduct its business in the ordinary course and consistent
with past practices, (b) service the Loans consistent with past practices
and procedures and (c) not engage in any practice, take any action, fail
to take any action or enter into any contract or transaction which would cause
any representation or warranty 

 ASSET PURCHASE AGREEMENT – PAGE 7
 

 

of Sellers to be materially untrue or result in a material breach of
any covenant made by Seller in this Agreement.

Section 4.3             Access to Information. During the period from the
date hereof to the Closing Date, Sellers shall afford the officers, employees,
and authorized representatives of Purchaser full and complete access, at
reasonable times during normal business hours, to the officers, employees,
agents, books and records of Sellers (to the extent they relate to the
Transferred Assets or the Securitized Loans), and shall furnish to Purchaser
such financial, operating data, correspondence with or information maintained
by Governmental Authorities, and any other information relating to the
Transferred Assets and the Securitized Loans (including servicer reports and
other information supplied by BLX) as Purchaser may reasonably request. To the
extent any such books, records, data, correspondence or information are not in
Sellers’ physical possession and control, Sellers shall use commercially
reasonable efforts to obtain and provide such information. Sellers will furnish
all information concerning Sellers, the Transferred Assets and the Securitized
Loans reasonably required for inclusion in any application or statement to be
made in connection with the transactions contemplated by this Agreement, and
Sellers represent and warrant that all information so furnished for such
statements and applications shall be true and correct in all material respects
and shall not omit any material fact required to be stated therein or necessary
to make the statements made, in light of the circumstances under which they
were made, not misleading.

Section 4.4             Notification of Certain Matters. Sellers shall
give prompt written notice to Purchaser, and Purchaser shall give prompt
written notice to Sellers, (a) of the occurrence or non-occurrence of any
event, the occurrence or non-occurrence of which would cause any representation
or warranty contained in this Agreement or the Closing Agreements to be untrue
or inaccurate in any material respect when made and as of the Closing Date, (b) that
Sellers or Purchaser, as the case may be, are unable, and will be unable as of
the Closing Date, to comply with or satisfy in all material respects any
covenant or agreement to be complied with or satisfied by it hereunder or under
this Agreement or the Closing Agreements, and (c) of the receipt of any
notice or communication from any Person or Governmental Authority regarding the
existence of any pending or threatened action that might reasonably be expected
to have a Material Adverse Effect or alleging that any approval or consent is
required in connection with the consummation of the transactions contemplated
hereby.

Section 4.5             Cooperation in Obtaining Consents and Approvals. Sellers
and Purchaser will each use their respective commercially reasonable efforts to
take or cause to be taken all reasonable actions necessary, proper or advisable
to consummate the transactions contemplated by this Agreement, including such
action as Purchaser (in the case of the actions of Sellers) or Sellers (in the
case of the actions by Purchaser) reasonably considers necessary, proper or
advisable, in connection with obtaining Required Consents and making filings with
all Governmental Authorities having jurisdiction over the transactions
contemplated by this Agreement. Sellers and Purchaser each agree to cooperate
in obtaining all consents and approvals from each Person from whom such consent
or approval may be required in connection with the Closing of the transactions
contemplated by this Agreement and the commencement of business operations by
Purchaser as an SBLC. Notwithstanding the foregoing neither Sellers nor
Purchaser shall be required to take or cause to be taken any action in respect
of the foregoing if 

 ASSET PURCHASE AGREEMENT – PAGE 8
 

 

such action would result in additional liability accruing to such
party, increase the costs expected to be incurred by such party, or otherwise
have a detrimental effect on the economic benefit of the transactions
contemplated hereby expected by such party, in each case by more than a
deminimus amount, as determined by the party to be charged, acting reasonably.

Section 4.6             Further Assurances. Upon the terms and subject to
the conditions hereof, each Party hereto shall use its reasonable best efforts
to take, or cause to be taken, all appropriate action, and to do, or cause to
be done, all things necessary, proper or advisable under applicable Laws to
consummate and make effective the transactions contemplated hereby, including,
using its reasonable best efforts to obtain all permits, consents, approvals,
authorizations, qualifications and orders of Governmental Authorities and other
Persons as are necessary or desirable for the consummation of the transactions
contemplated hereby and to fulfill the conditions to the consummation of the
transactions contemplated hereby.

Section 4.7             Servicing of Loans; Maintenance of Minimum Net Worth.

(a)           Purchaser
acknowledges the financial interest Sellers will retain in the Serviced Assets
and the Loan Certificates after the Closing. Notwithstanding the assignment by
Sellers of the Loan Servicing Rights to Purchaser, BLX (or another loan
servicer approved by the SBA and Sellers) shall service the Serviced Assets
after the Closing Date to preserve the economic value of the Serviced Assets
after the Closing Date and Sellers shall retain all rights and interests of “Lender”
under and as defined in the Subservicer Agreement with respect to Section 2.02(o) of
the Subservicer Agreement. Purchaser and Sellers each acknowledge that BLX, as
Subservicer, may exercise all unilateral servicing actions permitted under the
Subservicer Agreement in accordance with SBA Rules and Regulations.

(b)           Purchaser
shall use its commercially reasonable efforts to cause BLX to prepare and
transmit to Sellers a monthly statement of the Collection Account, which
statement shall be forwarded to Sellers no later than the fifth Business Day
after the beginning of each month.

(c)           Purchaser
shall use commercially reasonable efforts to cause BLX to provide to Sellers
such information, and to perform such calculations, as Sellers may reasonably
request in connection with Sellers’ preparation, filing and delivery of any
documents, reports, filings, instruments, certificates and opinions pursuant to
state and federal tax laws in connection with the Serviced Assets; provided,
however, that Sellers shall remain obligated with respect to all Taxes relating
to the Loans for which it is liable under applicable Law.

(d)           Purchaser
shall use commercially reasonable efforts to cause BLX to prepare and file, at
Seller’s expense, all reports relating to the Loans that are required to be
filed under the Subservicer Agreement or applicable Law (including the USAP
Report required from the auditors of BLX), except with respect to Tax matters,
which are governed by Section 4.7(c), and Purchaser shall provide a copy
of all such reports to Sellers promptly after receipt of such reports from BLX.
Sellers shall promptly forward to Purchaser any notices they may receive from
any Governmental Authority with respect to the Serviced Assets or such
reporting obligations. Purchaser shall use commercially reasonable efforts to
cause BLX to prepare and deliver to the Sellers and all other Persons entitled
to receive such reports under the SBA Rules and Regulation, any Existing
Multi-Party Agreement or any Pooling and Servicing Agreement, 

 ASSET PURCHASE AGREEMENT – PAGE 9
 

 

including, on a monthly basis all reports via electronic file currently
provided to Sellers by BLX, each in accordance with Schedule 4.7(d) attached
hereto and otherwise substantially in the form currently used by BLX for such
reports.

(e)           In
accordance with the SBA Rules and Regulations, Purchaser shall maintain at
all times a minimum tangible net worth of at least $1,000,000.

Section 4.8             Bank Accounts. Prior to the Closing Date,
Purchaser will open various bank accounts to facilitate its performance of
certain duties as Servicer for the Serviced Assets and to comply with the
Pooling and Servicing Agreements; provided that the withdrawal of funds from
such accounts shall be subject to restrictions and conditions satisfactory to
Sellers. To facilitate an orderly transfer of servicing responsibilities, the
initial set of bank accounts shall reflect, at a minimum, accounts serving the
purposes of the accounts listed on Schedule 4.8. On the Closing Date, for all
bank accounts listed on Schedule 4.8, Sellers shall transfer or cause to be
transferred all available funds from such bank accounts to the corresponding
account of Purchaser. If any of such funds belong to any Seller in its capacity
other than as Servicer under the Pooling and Servicing Agreements, then
Purchaser shall promptly remit such funds to Sellers in accordance with the
requirements of the documents or agreements under which Sellers’ rights to such
funds arises. Notwithstanding the establishment of such accounts by Purchaser
and the transfer of available funds to such accounts of Purchaser, all interest
accrued on any funds deposited in such accounts of Purchaser shall be for the
benefit of Seller and shall be promptly transferred to the Agent Reserve
Account or such other account as Seller may from time to time specify.

Section 4.9             Servicer Expenses and Agent Reserve Account. Since
Sellers will retain an unlimited financial interest in the Loan Assets and an
unlimited financial interest in the Securitized Loans, the Parties agree to the
following provisions, which shall be independent of and in addition to the
provisions of Article 6.

(a)           Sellers
jointly and severally agree to pay or reimburse Purchaser, to the extent not
otherwise paid by BLX or from the proceeds of Collateral, for all Servicer
Expenses incurred in connection with the Serviced Assets. At or prior to the
Closing, Sellers shall deposit into a separate deposit account held in the name
of Sellers (the “Agent Reserve Account”), a cash amount to be used by
BLX for the purposes set forth in this Section 4.9. Sellers jointly and
severally agree to make additional deposits during the period beginning on the
Closing Date and continuing while any Loan remains outstanding and as required
to maintain a minimum balance at all times in the Agent Reserve Account equal
to the sum of (i) and (ii) below:

(i)            a minimum floor of $50,000; plus

(ii)           the full amount of any payment due to
the SBA within 30 days relating to Purchaser’s receipt of binding and final
(after appeal, if applicable) written notice from the SBA of a guarantee denial
or repair with respect to any Loan that was not caused by acts taken by Purchaser
after the Closing Date.

Section 4.10           Financial Statements. During the period when any
Loans remain outstanding, Sellers shall provide to Purchaser, upon request,
unaudited monthly financial

 ASSET PURCHASE AGREEMENT – PAGE 10
 

 

statements (or quarterly statements in any instance in which monthly
statements are not routinely prepared by Sellers) and annual financial
statements including an accompanying audit report if one is delivered to
Sellers, in each case presenting the financial condition and results of
operations of Sellers on a separate company and consolidated group basis and
prepared in accordance with GAAP.

Section 4.11           No Sale, Transfer, or Other Bids. Except as
provided in Section 1.5, during the period from the Effective Date to the
Closing Date, Sellers shall not sell, transfer, or otherwise dispose of or
encumber, or authorize or permit any officer, director, employee, investment
banker, attorney, accountant or other agent or representative to entertain,
solicit or encourage any inquiries or the making of any proposal which may
reasonably be expected to lead to any proposal for a purchase, sale,
disposition, financing, or any similar transaction with respect to the SBLC
License or the Loan Servicing Rights.

Section 4.12           Insurance. At all times after the Closing Date,
Purchaser shall maintain an enforceable crime and errors and omissions
insurance policy with a $100,000 maximum deductible and a minimum limit of
$1,500,000 per occurrence.

Section 4.13           Amendments to Servicing Agreements. Purchaser may
not, at any time (including after the Closing Date), terminate, amend, modify,
supplement or change the Subservicer Agreement or any Pooling and Servicing
Agreement without the prior written consent of Sellers and any purported
amendment, modification, supplement or change made without such prior written
consent shall be null and void and of no force or effect.

Section 4.14           Equity Contribution. Immediately after the
Purchaser has obtained approval from the SBA for the acquisition of the SBLC
License:

(a)           FirstCity
BLC will contribute (i) $960,000 (or such other amount approved by the
SBA), to the Purchaser in exchange for ninety-six percent (96%) of the common
equity of Purchaser on a fully-diluted basis (subject to dilution by the
issuance of stock options to management for 16% of the common equity of
Purchaser, on a fully diluted basis), and (ii) $2,000,000 (or such other
amount approved by the SBA) to the Purchaser in exchange for one-hundred
percent (100%) of the preferred equity of Purchaser on a fully diluted basis,
in each case of subclauses (i) and (ii) on terms and conditions
satisfactory to Sellers. The parties agree that the preferred equity received
by Purchaser will accrue dividends on the liquidation amount of the preferred
equity at a variable rate equal to the Prime Rate +4%.

(b)           Sellers
will contribute $40,000 in exchange for four percent (4%) of the common equity
of Purchaser on a fully diluted basis (subject to dilution by the issuance of
stock options to management for 16% of the common equity of Purchaser, on a
fully diluted basis)

Section 4.15           Operational Advances. At all times after the
Closing Date, FirstCity BLC shall provide to Purchaser up to $4,000,000 of
working capital in the form of a capital note on terms and conditions
satisfactory to Sellers and with an interest rate equal to the Prime Rate +3%
to the extent not provided by any other financing obtained by the Purchaser.

 ASSET PURCHASE AGREEMENT – PAGE 11
 

 

Section 4.16           FirstCity Corporate Overhead Expense. In the twelve
month period following the Closing Date, the maximum amount of corporate overhead
expenses charged by FirstCity to Purchaser shall not exceed $250,000, and
FirstCity shall not (i) increase its corporate overhead charge to
Purchaser by more than $100,000 in any period of twelve consecutive calendar
months thereafter or (ii) during the period commencing on the Closing Date
through and including the fifth (5th) anniversary of the Closing Date,
require Purchaser or any of its subsidiaries to pay or accrue more than
$500,000 in any  period of twelve
consecutive calendar months in corporate overhead expense. During the period
from the Effective Date through and including the Closing Date, corporate
overhead expenses charged by FirstCity to the Purchaser and its subsidiaries
shall not exceed $325,000 in the aggregate.

Section 4.17           Transportation Costs; Risk of Loss.

(a)           Seller
hereby releases Purchaser from any and all liability for any loss, claim,
damage, cost or expense (including, without limitation, attorneys’ fees) that
may be incurred by Sellers, or any other Person, as a result of, or in
connection with Purchaser allowing the files and documents evidencing or
relating to the Loans (collectively, “Loan Files”) to be retrieved in
accordance with the applicable servicing agreements.

(b)           All
expenses in connection with transportation and delivery of the Loan Files will
be the sole responsibility of Seller. From and after the Closing Date, Seller
bears the risk of loss with respect to the Loan Files.

Section 4.18           Missing Documents.

(a)           Purchaser
will not have any obligation to deliver to Seller any Loan Files (or part
thereof) that are lost, missing or otherwise not in the possession of either
the Purchaser or any Servicer. Without restricting or limiting the generality
of the foregoing, Seller acknowledges and agrees that Purchaser will have no
obligation to secure or obtain any assignment that predates the assignment of
any Loan to Purchaser that is not contained in the Loan Files. Seller will have
the sole responsibility for and expense of securing any intervening assignment
that may be missing from the Loan Files from the appropriate source. The
failure of either Purchaser or any Servicer to deliver any Loan Files
(including, without limitation, any intervening assignments other than
assignments to Purchaser), any other contents of the Loan Files that are lost,
missing or otherwise not in the possession of either Purchaser or any Servicer,
will not affect Seller’s obligations under this Agreement.

(b)           In
the event that any note or other Loan Document is lost, missing or otherwise
not in the possession of either Purchaser or any Servicer, Purchaser may elect
either to provide an executed assignment and lost instrument affidavit to
Seller or require Seller to execute the same on behalf of Purchaser pursuant to
the limited power of attorney contained in the Security Agreement.

(c)           Seller
will have the sole responsibility to obtain any of the Loan Documents in the
possession of any attorneys, collection agencies or foreclosing trustees.

 ASSET PURCHASE AGREEMENT – PAGE 12
 

 

(d)           Seller
acknowledges that Purchaser might not have access to information from prior
holders or servicers of a Loan (other than Servicers) and that Purchaser has
not requested and will have no obligation to request any information not in the
possession of either Purchaser or any Servicer from any prior holder or
servicer of a Loan (other than any Servicer). Seller agrees that Purchaser will
not be required pursuant to the terms of this Agreement (or otherwise) to
request any information not in the possession of either Purchaser or any
Servicer from any prior holder or servicer of a Loan (other than any Servicer).

Section 4.19           Use of Collateral Proceeds. Purchaser shall not use
any of the Collateral or the proceeds thereof in violation of this Agreement or
any Closing Agreement. Notwithstanding the foregoing, Purchaser shall not be
responsible for nor shall Purchaser have any liability for any use of the
Collateral or the proceeds thereof by BLX in violation of this Agreement or the
Closing Agreements unless such use is at the direction of the Purchaser.

Section 4.20           Survival of Covenants. The covenants of Purchaser
and Seller under this Agreement shall survive the Closing of the transactions
contemplated by this Agreement.

Section 4.21           FirstCity
BLC Financial Obligations. FirstCity shall cause FirstCity BLC to meet its
financial obligations under Sections 4.1, 4.14 and 4.15 of this Agreement.

Article 5

CONDITIONS TO CLOSING

Section 5.1             Conditions to the Obligations of Purchaser and
Sellers to Close. The obligations of the Parties hereto to effect the
Closing are subject to the satisfaction (or waiver by all Parties) prior to the
Closing of the following conditions:

(a)           No
Injunctions. No court or Governmental Authority of competent jurisdiction,
shall have enacted, issued, promulgated, enforced or entered any Law, rule,
regulation, non-appealable judgment, decree, injunction or other order that is
in effect on the Closing Date and enjoins, restrains or prohibits this
Agreement or the consummation of any of the material transactions contemplated
hereby.

(b)           No
Pending or Threatened Actions. There shall not be pending or threatened any
Action initiated by a Person other than Parties or their respective Affiliates
seeking to enjoin or restrain consummation of the transactions contemplated by
this Agreement, or seeking damages in connection with such transactions.

(c)           Consents.
Each of the Required Consents shall have been received by Sellers and each of
the consents and approvals set forth on Schedule 3.3 shall have been received
by Purchaser, as applicable, and each shall be in form and substance reasonably
satisfactory to Purchaser and Sellers.

(d)           Senior
Financing. FirstCity shall have arranged for Purchaser to have available a
warehouse financing facility, approved by the SBA, from a lender (the “Senior
Lender”); provided that Purchaser and such Senior Lender shall enter into
an intercreditor agreement that 

 ASSET PURCHASE AGREEMENT – PAGE 13
 

 

will (i) preserve, as first priority liens, the liens granted
pursuant to the Security Agreement, (ii) permit payment and performance
obligations of Purchaser with respect to the Collateral and the Secured Note on
a senior basis with a priority ahead of any obligation of Purchaser under such
facility, and (iii) will otherwise contain terms and conditions reasonably
satisfactory to the Purchaser.

Section 5.2             Conditions to the Obligation of Purchaser to Close.
The obligation of Purchaser to effect the Closing is subject to the
satisfaction (or waiver by Purchaser) prior to the Closing of the following
further conditions:

(a)           Representations
and Warranties. The representations and warranties of Sellers contained in
this Agreement shall be true and correct at and as of the Closing Date with the
same force and effect as though made at and as of the Closing Date, except that
the financial statements referred to in Section 2.7 shall have been
updated through the end of the month prior to the Closing Date. Sellers shall
each have delivered to Purchaser a certificate signed by a duly authorized
officer of Sellers familiar with the transactions contemplated by this
Agreement, dated the Closing Date, to the effect set forth in this Section 5.2(a).

(b)           Covenants.
The covenants and agreements of Sellers to be performed on or prior to the
Closing pursuant to this Agreement and the Closing Agreements shall have been
duly performed in all material respects, and Purchaser shall have received a
certificate to such effect dated the Closing Date and executed by a duly
authorized officer of Sellers familiar with the transactions contemplated by
this Agreement.

(c)           Proceedings,
Instruments Satisfactory. All proceedings, corporate or otherwise, to be
taken by Sellers in connection with the transactions contemplated by this
Agreement, and all documents incident thereto, including the Closing
Agreements, shall be reasonably satisfactory in form and substance to Purchaser
and Purchaser’s counsel, and Sellers shall have made available to Purchaser for
examination the originals or true and correct copies of all documents which
Purchaser may reasonably request in connection with the transactions contemplated
by this Agreement and the Closing Agreements. At Closing, Sellers shall deliver
a copy of the resolutions of their respective boards of directors and, if
required, their respective equityholders authorizing the transactions
contemplated by this Agreement and the Closing Agreements.

(d)           Assignment
of Transferred Assets. Sellers shall have executed and delivered to
Purchaser the Closing Agreements, including the Transfer and Assignment
Documents and any other assignments, endorsements, agreements or documents as
required herein to vest ownership of the Transferred Assets in Purchaser,
including without limitation the Multi-Party Agreement, and, subject to receipt
by Sellers of the Purchase Price, delivered to Purchaser any physical document
representing the SBLC License.

(e)           Agent
Reserve Account. The Agent Reserve Account shall have been funded in
accordance with the requirements of Section 4.9.

(f)            SBA
Approval. Purchaser shall have received approval from the SBA for the
acquisition of the SBLC License.

 ASSET PURCHASE AGREEMENT – PAGE 14
 

 

(g)           Other
Deliveries. Purchaser shall have received such other documents, agreements,
instruments and other items as Purchaser may reasonably request consistent with
Sellers’ obligations under this Agreement.

Section 5.3             Conditions to the Obligation of Sellers to Close.
The obligation of Sellers to effect the Closing is subject to the satisfaction
(or waiver by Sellers) prior to the Closing of the following further
conditions:

(a)           Representations
and Warranties. The representations and warranties of Purchaser contained
in this Agreement shall be true and correct at and as of the Closing with the
same force and effect as though made at and as of the Closing Date. Purchaser
shall have delivered to the Seller a certificate signed by a duly authorized
officer of Purchaser familiar with the transactions contemplated by this
Agreement, dated the Closing Date, to the effect set forth in this Section 5.3(a).

(b)           Covenants.
The covenants and agreements of Purchaser to be performed on or prior to the
Closing shall have been duly performed in all material respects, and Sellers
shall have received a certificate to such effect dated the Closing Date and
executed by a duly authorized officer of Purchaser familiar with the
transactions contemplated by this Agreement.

(c)           Proceedings,
Instruments Satisfactory. All proceedings, corporate or otherwise, to be
taken by Purchaser in connection with the transactions contemplated by this
Agreement, and all documents incident thereto, including the Closing
Agreements, shall be reasonably satisfactory in form and substance to Sellers
and Sellers’ counsel, and Purchaser shall have made available to Sellers for
examination the originals or true and correct copies of all documents which
Sellers may reasonably request in connection with the transactions contemplated
by this Agreement and the Closing Agreements. At Closing, Purchaser shall
deliver a copy of the resolutions of their respective boards of directors and
if required, their respective equityholders authorizing the transactions contemplated
by this Agreement and the Closing Agreements.

(d)           Closing
Agreements. Purchaser shall have executed and delivered to Sellers the
Closing Agreements to which it is a party including the Secured Note and the
Security Agreement.

(e)           Purchase
Price. Purchaser shall have delivered the cash portion of the Purchase
Price to the Sellers pursuant to Section 1.4, and Purchaser shall have
issued to Sellers equity interests in Purchaser pursuant to Section 1.4.

(f)            Purchaser
Net Worth. The Sellers shall have received from Purchaser evidence
reasonably satisfactory to Sellers, that the tangible net worth of Purchaser is
equal to or greater than the amount required by the SBA as of the Closing Date.

(g)           Shareholder
Agreement. Purchaser, Sellers and Messrs. Bell and Smith will have
executed and delivered a Shareholder Agreement in form and substance acceptable
to Sellers.

(h)           Purchaser
Options. Purchaser will have granted to Messrs. Bell and Smith options
to purchase common equity of
Purchaser sufficient to allow Messrs. Bell and Smith to 

 ASSET PURCHASE AGREEMENT – PAGE 15
 

 

collectively own up to sixteen percent (16%) of the common equity of
Purchaser, on a fully diluted basis, as of the end of the term of the
Management Agreement.

(i)            Management
Agreement. Messrs. Bell and Smith will have executed a management
agreement with Purchaser in a form acceptable to Sellers (the “Management
Agreement”).

(j)            Other
Deliveries. The Sellers shall have received such other documents,
agreements, and instruments, and other items as the Seller may reasonably request
consistent with Purchaser’s obligations under this Agreement.

Article 6

INDEMNIFICATION

Section 6.1             Survival of Representations and Warranties. Except
for representations and warranties relating to the Serviced Assets, the
representations and warranties contained in Article 2 and Article 3,
in any Closing Agreement or in any instrument delivered in connection herewith
shall survive for 24 months following the Closing Date, after which such
representations or warranties shall terminate and not have any force or effect
and shall not constitute the basis for any further claim in contract, tort or
otherwise by Purchaser against Sellers or by Sellers against Purchaser. Representations
and warranties relating to the Serviced Assets shall, with respect to each
Loan, survive for 24 months following the payment in full or final liquidation
and settlement of such Serviced Asset with the SBA.

Section 6.2             Indemnification by Sellers. Sellers shall jointly
and severally indemnify and hold harmless Purchaser and its Affiliates and
their respective partners, officers, directors, employees and agents from and
against any damage, claim, liability, deficiency, loss, cost or expense
(including reasonable attorneys’ fees) (“Damages”) that any of them
actually suffer, incur or sustain resulting from (whether or not arising out of
third party claims): (i) Purchaser’s servicing of the Serviced Assets
(except for Damages caused by any act or omission of Purchaser constituting a
breach of any representations and warranties or any covenant of Purchaser under
this Agreement or any Closing Agreement), (ii) any breach of any
representation or warranty made by any Seller in this Agreement, (iii) any
breach of any covenant to be performed by any Seller pursuant to this Agreement
and (iv) any act or omission to act by any Seller or any of their agents,
including BLX, or any other Person acting or purporting to act on their behalf
with respect to the Serviced Assets. The indemnification provided by this Article 6
shall be independent of and in addition to the provisions set forth in Section 4.9,
and Purchaser shall not be required to proceed under the provisions of this Article 6
in any instance where the provisions of Section 4.9 create additional
rights and obligations among the Parties, even if the facts giving rise to such
rights and obligations also give rise to rights or obligations of the Parties
under this Article 6. Any amount paid or reimbursed to Purchaser pursuant
to Section 4.9 shall not also be recovered pursuant to this Article 6.

Section 6.3             Indemnification by Purchaser. Purchaser shall
indemnify and hold harmless Sellers and each of their Affiliates and respective
partners, officers, directors, employees and agents from and against any
Damages that any of them actually suffer, incur or 

 ASSET PURCHASE AGREEMENT – PAGE 16
 

 

sustain resulting from (whether or not arising out of third party
claims): (i) any breach of any representation or warranty made by
Purchaser in this Agreement and (ii) any breach of any covenant to be
performed by Purchaser pursuant to this Agreement.

Section 6.4             Notification. Each Party (the “Indemnified
Party”) shall promptly notify the other Party (the “Indemnifying Party”)
of the existence of any claim, demand or other matter to which the Indemnifying
Party’s indemnification obligations would apply and shall give the Indemnifying
Party reasonable opportunity to then defend the same at its own expense and
with counsel of the Indemnifying Party’s selection; provided, that the
Indemnified Party shall at all times also have the right to fully participate
in the defense at its own expense. If the Indemnifying Party shall, within a
reasonable time after this notice, fail to defend, the Indemnified Party shall
have the right, but not the obligation, to undertake the defense of, and to
compromise or settle (exercising its good faith business judgment) the claim or
other matter on behalf, for the account and at the risk of the Indemnifying
Party. If the claim is one that cannot by its nature be defended solely by the
Indemnifying Party, then the Indemnified Party shall make available all
information and assistance that the Indemnifying Party may reasonably request
at no cost to the Indemnified Party.

Section 6.5             Limitation of Indemnification. Any claim brought
under Section 6.2 or Section 6.3 is subject in each case to the
following limitations and restrictions:

A claim for breach of a representation or warranty
under Section 6.2(i) or Section 6.3 may not be asserted at any
time after the end of the survival period for such representation or warranty
as set forth in Section 6.1.

Damages will be payable only if and at such time as
the aggregate amount of all Damages exceeds $10,000 (the “Basket”) at
which time the Indemnifying Party shall pay the Indemnified Party the entire
aggregate amount of all Damages. In determining the aggregate amount of Damages
suffered by Sellers, such amount shall be determined as to the Sellers
collectively as a whole without duplication and not individually. For the
avoidance of doubt, if ASBA and NCS each suffered Damages of $6,000 that were
not duplicative ($12,000 in the aggregate), the Basket would be exceeded even
though neither Seller suffered Damages in excess of the Basket individually.

Damages shall be reduced by the amount of any
insurance proceeds (net of expenses of collection) actually received in
connection with such Damages. Each Indemnified Party will exercise its
commercially reasonable efforts to collect insurance proceeds under applicable
insurance policies that are then in force if and to the extent that such Damages
relates to an event covered by such insurance policies and if the Indemnified
Party shall receive any insurance proceeds after payment of any Damages by the
Indemnifying Party, the Indemnified Party shall pay to the Indemnifying Party
the lesser of the amount of insurance proceeds (net of expenses of collection)
and the amount actually paid by the Indemnifying Party to the Indemnified Party
in respect of such Damages.

 ASSET PURCHASE AGREEMENT – PAGE 17
 

 

Article 7

CONFIDENTIALITY AND PUBLICITY

Section 7.1             Confidentiality.

(a)           Sellers
shall keep strictly confidential the terms of this Agreement and any and all
information about (i) Purchaser or Purchaser’s Affiliates provided to any
of Sellers or their Affiliates, agents or representatives in the course of
negotiations relating to this Agreement or any transaction contemplated by this
Agreement, and (ii) information relating to the Transferred Assets, and
each Seller has instructed its respective officers, employees, agents and other
representatives having access to such information of such obligation of
confidentiality.

(b)           Purchaser
shall keep strictly confidential the terms of this Agreement and any business
and financial information about Sellers (other than information specifically
relating to the Transferred Assets) provided to Purchaser in connection with
this Agreement, and Purchaser has instructed its respective officers,
employees, agents and other representatives having access to such information
of such obligation of confidentiality.

(c)           The
obligations of confidentiality set forth in this Section 7.1 shall not
apply to information (i) disclosed to each Party’s counsel or independent
auditors or other advisors, or to Purchaser’s prospective lenders, investors or
partners in connection with the transactions contemplated hereby, (ii) requested
to be disclosed by any Governmental Authority or required to be disclosed by
Law or administrative proceeding, or required to be disclosed under any state
or federal securities laws or in filings made by the Parties in connection with
the foregoing, (iii) for which a Party has received a subpoena or similar
demand (provided that such Party shall to the extent permitted by applicable
Law first, as promptly as practicable upon receipt of such demand, furnish a
copy to the other Party), (iv) generally available to the public or in the
possession of the receiving Party before its disclosure under this Agreement, (v) disclosed
by a Party in connection with a proceeding to enforce its rights against the
other Party for a breach arising under this Agreement, (vi) that is
necessary to effectuate the transfer of the Transferred Assets to Purchaser or
to enforce the rights of Purchaser under this Agreement or the Closing
Agreements, or (vii) that is necessary in connection with Purchaser
investor and partner requirements.

Section 7.2             Publicity. Except as otherwise required by
applicable laws or regulations, prior to the Closing Date, neither Party shall
issue any press release or make any other public statement, in each case
relating to or connected with or arising out of this Agreement or the matters
contained herein, without obtaining the prior approval of the other Party to
the contents and the manner of presentation and publication thereof.

Section 7.3             Survival. The provisions of this Article 7
shall survive the termination of this Agreement.

 ASSET PURCHASE AGREEMENT – PAGE 18
 

 

Article 8

GENERAL PROVISIONS

Section 8.1             Termination of Agreement. This Agreement may be
terminated at any time prior to the Closing (i) by mutual written consent
of the Parties, (ii) by Sellers upon any breach of this Agreement by
Purchaser at any time or if the Closing shall not have occurred by the
Termination Date, for any reason other than a breach of this Agreement by
Sellers or (iii) by Purchaser upon any breach of this Agreement by Sellers
at any time or if the Closing shall not have occurred by the Termination Date,
for any reason other than a breach of this Agreement by Purchaser. Except as
otherwise expressly provided in this Section 8.1 and any provisions of
this Agreement which by their express terms survive the termination of this
Agreement, neither Party shall have any liability to the other hereunder of any
nature, including any liability for damages, as a result of a termination of
this Agreement.

Section 8.2             Notices. Any notice, request, instruction, correspondence
or other document to be given hereunder by either Party to the other (herein
collectively called “Notice”) shall be in writing and delivered in
person or by courier service requiring acknowledgment of receipt of delivery or
mailed by certified mail, postage prepaid and return receipt requested, or by
fax, as follows:

Sellers:

                NCS I LLC

5221 N. O’Connor Boulevard

Suite 700

Irving, TX  75201

Attention: Jon Pettee

Fax:  972-532-4380

Purchaser:

                American Business Lending, Inc.

c/o FirstCity Financial Corporation

Attn: Legal Dept

6400 Imperial Drive (for courier delivery)

Waco, TX  76712

P.O. Box 8216
(for mail delivery)

Waco, TX 76714-8216

Fax:  254-761-2953

Notice given by personal delivery, courier service or
mail shall be effective upon actual receipt. Notice given by fax shall be
confirmed by appropriate answer back and shall be effective upon actual receipt
if received during the recipient’s normal business hours, or at the 

 ASSET PURCHASE AGREEMENT – PAGE 19
 

 

beginning of the recipient’s next Business Day after
receipt if not received during the recipient’s normal business hours. All
Notices by fax shall be confirmed promptly after transmission in writing by
certified mail or personal delivery. Any Party may change any address to which
Notice is to be given to it by giving Notice as provided above of such change
of address.

Section 8.3             GOVERNING LAW. THE PROVISIONS OF THIS AGREEMENT
SHALL BE GOVERNED BY AND CONSTRUED AND ENFORCED IN ACCORDANCE WITH THE LAWS OF
THE STATE OF TEXAS (EXCLUDING ANY CONFLICTS-OF-LAW RULE OR PRINCIPLE THAT MIGHT
REFER SAME TO THE LAWS OF ANOTHER JURISDICTION), EXCEPT TO THE EXTENT THAT SAME
ARE MANDATORILY SUBJECT TO THE LAWS OF ANOTHER JURISDICTION PURSUANT TO THE
LAWS OF SUCH OTHER JURISDICTION. THE PARTIES HERETO AGREE THAT VENUE AND
JURISDICTION REGARDING ANY ACTION HEREUNDER SHALL BE EXCLUSIVELY IN ANY STATE
OR FEDERAL COURT IN DALLAS, TEXAS.

Section 8.4             Entire Agreement; Amendments and Waivers. This
Agreement (including any exhibits and schedules hereto) constitutes the entire
agreement between the Parties hereto pertaining to the subject matter hereof
and supersedes all prior agreements, understandings, negotiations and
discussions, whether oral or written, of the Parties, and there are no
warranties, representations or other agreements between the Parties in
connection with the subject matter hereof except as set forth specifically
herein or contemplated hereby. No supplement, modification or waiver of this
Agreement shall be binding unless executed in writing by the Party to be bound
thereby. The failure of a Party to exercise any right or remedy shall not be
deemed or constitute a waiver of such right or remedy in the future. No waiver
of any of the provisions of this Agreement shall be deemed or shall constitute
a waiver of any other provision hereof (regardless of whether similar), nor
shall any such waiver constitute a continuing waiver unless otherwise expressly
provided.

Section 8.5             Binding Effect and Assignment. This Agreement
shall be binding upon and inure to the benefit of the Parties hereto and their
respective permitted successors and assigns. No Party to this Agreement may
assign its rights hereunder without the written consent of the other Parties. Nothing
in this Agreement, express or implied, is intended to confer upon any Person
other than the Parties and their respective permitted successors and assigns,
any rights, benefits or obligations hereunder. Any Person into which the
Purchaser may be merged or consolidated, or any Person resulting from any
merger, conversion or consolidation to which the Purchaser shall be a party, or
any Person succeeding to all or substantially all of the business of the
Purchaser, shall be an established mortgage loan servicing institution and
shall be an approved SBA guaranteed lender in good standing, operating pursuant
to an effective Loan Guaranty Agreement, and shall be the successor of the
Purchaser, hereunder, without the execution or filing of any paper or any
further act on the part of any of the Parties hereto, anything herein to the
contrary notwithstanding except as may be otherwise required by the SBA Rules and
Regulations and the Closing Agreements. The Purchaser shall send notice of any
such merger or consolidation to the Sellers.

Section 8.6             Severability. If any provision of the Agreement
is rendered or declared illegal or unenforceable by reason of any existing or
subsequently enacted legislation or by 

 ASSET PURCHASE AGREEMENT – PAGE 20
 

 

decree of a court of last resort, the Parties hereto shall promptly
meet and negotiate substitute provisions for those rendered or declared illegal
or unenforceable, but all of the remaining provisions of this Agreement shall
remain in full force and effect.

Section 8.7             Execution. This Agreement may be executed in
multiple counterparts each of which shall be deemed an original and all of which
shall constitute one instrument.

Section 8.8             Headings. The headings of the several Articles
and Sections herein are inserted for convenience of reference only and are not
intended to be a part of or to affect the meaning or interpretation of this
Agreement.

Section 8.9             Expenses. Sellers and Purchaser shall each pay
all costs and expenses incurred by them or on their behalf in connection with
this Agreement and the transactions contemplated hereby, except that Sellers
shall be solely responsible for and shall pay all third-party, out-of-pocket
filing and recordation fees related to the filing and recordation of the
Transfer and Assignment Documents.

Section 8.10           Additional Rules. Unless the context shall require
otherwise:  (1) any references
herein to a “Section,” “Article”, “Schedule” or “Exhibit” means the applicable
section, article, schedule or exhibit of or to this Agreement; (2) words
importing the singular number or plural number shall include the plural number
and singular number, respectively; (3) words importing the masculine
gender shall include the feminine and neuter genders, and vice versa; (4) reference
to “include” and “including” shall be deemed to be followed by the phrase “without
limitation”; (5) reference in this Agreement to “herein,” “hereof” or “hereunder,”
or any similar formulation, shall be deemed to refer to this Agreement as a
whole, including all Schedules and Exhibits to this Agreement; and (6) reference
to “and” and “or” shall be deemed to mean “and/or.”

Article 9

CERTAIN DEFINITIONS

Section 9.1             Definitions. For purposes of this Agreement, the
following terms have the respective meanings set forth below:

“Action” or “Actions” means any claims, actions,
suits, proceedings and investigations, whether at law, in equity or in admiralty
or before any court, arbitrator, arbitration panel or Governmental Authority.

“Affiliate” means, with respect to any Person, any
Person directly or indirectly controlling, controlled by or under common
control with, such other Person as of the date on which, or at any time during
the period for which, the determination of affiliation is being made.

“Business Day” means any day other than (i) a
Saturday or Sunday, or (ii) a day on which banking institutions in the
States of New York or Texas are authorized or obligated by Law or executive
order to be closed.

 ASSET PURCHASE AGREEMENT – PAGE 21
 

 

“Closing Agreements” means, collectively, this
Agreement, the Secured Note, the Security Agreement, the Transfer and
Assignment Documents, the Multi-Party Agreement the Loan Servicing Assignment
and all other assignments and agreements among the Parties required to be
delivered at or prior to the Closing pursuant to the terms of this Agreement.

“Collateral” means the collateral now or hereafter
securing the unguaranteed portions of the Transferred Loans.

“Collection Account” means a deposit account
established and maintained by the Purchaser into which all borrower payments on
all loans are deposited and from which all disbursements of such funds are
made.

“Existing Multi-Party Agreement” has the meaning
assigned to the term “Multi-Party Agreement” in the Pooling and Servicing
Agreements.

“Foreclosed Properties” has the meaning assigned to
such term in the Pooling and Servicing Agreements.

“GAAP” means United States generally accepted
accounting principles.

“Governmental Authority” means any government, state,
province or other political subdivision thereof, and any entity exercising
regulatory or administrative functions of such governments.

“Law” means any federal, state, local or other law or
treaty or governmental requirement of any kind, and the rules, regulations and
orders promulgated thereunder.

“Lien” or “Liens” means any security interest, lien,
mortgage, claim, charge, pledge, restriction, equitable interest or encumbrance
of any nature.

“Loan Documents” means the documents evidencing the
Transferred Loans and more particularly described on the attached Schedule 2.8.

“Loan Guaranty Agreement” means collectively, one or
more Loan Guaranty Agreements (Deferred Participation) (SBA Form 750),
between the SBA and the Servicer, as such agreements may be amended,
supplemented or replaced from time to time, or such Loan Guaranty Agreement as
applicable to a successor to the Servicer, as the case may be.

“Loan Obligors” means, collectively, the obligors on
the Transferred Loans.

“Loan Portfolio Value” means the book value of the
Loan Servicing Rights and the Loan Assets as of the Closing Date as determined
by mutual agreement of the Parties.

“Material Adverse Effect” means any event,
circumstance, change, occurrence or effect (direct or indirect) that is
materially adverse to the business, operations, properties, condition
(financial or otherwise), assets, prospects, obligations or liabilities
(whether absolute, contingent or otherwise and whether due or to become due) of
the Transferred Assets or that reasonably could be expected to affect the
validity or enforceability of this Agreement or the Closing 

 ASSET PURCHASE AGREEMENT – PAGE 22
 

 

Agreements. None of the following shall be deemed by
itself or by themselves to constitute a Material Adverse Effect: (a) matters
disclosed on the Schedules; (b) conditions affecting the industry in which
Sellers operate; or (c) the United States economy or United States
financial markets.

“Multi-Party Agreement” means that certain Multi-Party
Agreement among Purchaser, Seller,, Colson Services Corp. and the United States
Small Business Administration on terms and conditions satisfactory to each
Person a party thereto.

“Parties” means, together, Sellers and Purchaser and
their respective permitted successors and assignees, and each individually, a “Party”.

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

“Prime Rate” means the interest rate announced by
JPMorgan Chase Bank, N.A. from time to time as its prime rate.

“Purchaser Pre-Operational Budget” means the budget
for the Purchaser for the period beginning on the Effective Date and ending on
the Closing Date, as mutually agreed by the Parties.

“Required Consents” has the meaning set forth in Section 2.3,
as same are listed on Schedule 2.3.

“SBA Rules and Regulations” means The Small
Business Act, as amended, codified at 15 U.S.C. 631, et seq., the Loan Guaranty
Agreement, all legislation or other legal authority building on the SBA, all rules and
regulations promulgated from time to time thereunder, all SBA Forms 1086
relating to the Loans, and all SBA Standard Operating Procedures and all
official notices, all as from time to time in effect.

“SBA 7(a) Loan” means an SBA Loan originated
pursuant to Section 7(a) of the SBA Rules and Regulations. For
purposes of this Agreement, references to SBA 7(a) Loans are equivalent to
references to Loans.

“SBA Loan” has the meaning assigned to such term in
the Pooling and Servicing Agreements.

“Serviced Assets” means the assets serviced pursuant
to the Pooling and Servicing Agreement and the Subservicer Agreement,
including, the Transferred Loans and the Securitized Loans.

“Servicer” has the meaning assigned to such term in
the Pooling and Servicing Agreements.

“Servicer Expenses” means (i) all reasonable and
customary out of pocket costs and expenses paid or incurred in connection with
owning, servicing, administering, collecting, 

 ASSET PURCHASE AGREEMENT – PAGE 23
 

 

managing and liquidating the Serviced Assets,
including the items defined as “Servicer Advances” in the Pooling and Servicing
Agreements and the items set forth in Section 3.03 of the Subservicer
Agreement, (ii)  all costs related to the transfer and delivery of files
and electronic data with respect to the Serviced Assets, and (iii) all
amounts required to be paid to any Person as a result of the denial or repair
or any SBA guarantee with respect to the Loans, other than denials or repairs
caused by acts or omissions of 
Purchaser, any of its Affiliates or permitted successors or assigns
after the Closing Date; provided, however, that Servicer Expenses shall not
include internal fixed overhead costs of Purchaser such as computers and
telephone systems, office space, supplies and employee salaries, all of which
shall be borne solely by Purchaser.

“Servicing Fees” has the meaning assigned to such term
in the Pooling and Servicing Agreements.

“Stated Amount” means the stated principal amount of
the promissory notes evidencing the Transferred Loans outstanding on the
Closing Date plus an amount agreed upon by the Parties with respect to the
other Transferred Assets (other than the SBLC License).

“Tax” or “Taxes” means any federal, state, local or
foreign tax of any kind whatsoever, including penalties, additions to tax, and
interest attributable thereto (together with any interest on any such interest,
penalties and additions to tax).

“Termination Date” means the earlier of (a) September 30,
2006, and (b) the date Purchaser receives written notice from the SBA of
the rejection of its application for approval as an SBA lender; unless
Purchaser’s application to become an SBA lender has not been approved or
rejected by September 30, 2006, in which event Purchaser may, with the
written consent and agreement of the Seller (which consent or agreement may be
granted or withheld or made subject to one or more conditions, in each case, at
the sole discretion of Seller), extend the Termination Date to a mutually
agreed upon by the Purchaser and Seller.

Section 9.2             Additional Definitions. The following terms have
the meanings specified elsewhere in this Agreement as follows:

	
  “Agent Reserve Account”

  	
   

  	
  Section 4.9(a)

  
	
  “Agreement”

  	
   

  	
  Preamble

  
	
  “ASBA”

  	
   

  	
  Preamble

  
	
  “Loan Servicing
  Assignment”

  	
   

  	
  Section 1.3

  
	
  “Basket”

  	
   

  	
  Section 6.5(b)

  
	
  “BLX”

  	
   

  	
  Section 1.3

  
	
  “Closing”

  	
   

  	
  Section 1.8

  
	
  “Closing Date”

  	
   

  	
  Section 1.8

  
	
  “Damages”

  	
   

  	
  Section 6.2

  
	
  “Effective Date”

  	
   

  	
  Preamble

  
	
  “FirstCity”

  	
   

  	
  Preamble

  
	
  “FirstCity BLC”

  	
   

  	
  Preamble

  
	
  “Indemnified Party”

  	
   

  	
  Section 6.4

  
	
  “Indemnifying Party”

  	
   

  	
  Section 6.4

  

 ASSET PURCHASE AGREEMENT – PAGE 24
 

 

 

	
  “Interim Financial
  Statements”

  	
   

  	
  Section 2.7

  
	
  “License
  Assignment”

  	
   

  	
  Section 1.3

  
	
  “Loan” and
  “Loans”

  	
   

  	
  Section 2.8

  
	
  “Loan Assets”

  	
   

  	
  Section 1.1

  
	
  “Loan Assets
  Assignment”

  	
   

  	
  Section 1.3

  
	
  “Loan
  Certificates”

  	
   

  	
  Section 1.1

  
	
  “Loan Schedule”

  	
   

  	
  Section 2.8

  
	
  “Loan Servicing
  Assignment”

  	
   

  	
  Section 1.3

  
	
  “Loan Servicing
  Rights”

  	
   

  	
  Section 1.2

  
	
  “NCS”

  	
   

  	
  Preamble

  
	
  “Notice”

  	
   

  	
  Section 8.2

  
	
  “Pooling and Servicing
  Agreements”

  	
   

  	
  Section 1.2

  
	
  “Pre-Operational
  Period

  	
   

  	
   

  
	
  Termination Payment”

  	
   

  	
  Section 4.1

  
	
  “Purchase Price”

  	
   

  	
  Section 1.4

  
	
  “Purchaser”

  	
   

  	
  Preamble

  
	
  “Required
  Consents”

  	
   

  	
  Section 2.3

  
	
  “SBA”

  	
   

  	
  Recitals

  
	
  “SBLC”

  	
   

  	
  Recitals

  
	
  “SBLC License”

  	
   

  	
  Recitals

  
	
  “Secured Note”

  	
   

  	
  Section 1.4

  
	
  “Security
  Agreement”

  	
   

  	
  Section 1.7

  
	
  “Sellers” or
  “Seller”

  	
   

  	
  Preamble

  
	
  “Securitized
  Loans”

  	
   

  	
  Section 1.2

  
	
  “Servicer
  Reserve Account”

  	
   

  	
  Section 4.8(a)

  
	
  “Subservicer
  Agreement”

  	
   

  	
  Section 1.3

  
	
  “Subservicer
  Assignment”

  	
   

  	
  Section 1.3

  
	
  “Transfer and Assignment
  Documents:

  	
   

  	
  Section 1.3

  
	
  “Transferred
  Assets”

  	
   

  	
  Section 1.3

  
	
  “Transferred
  Loans”

  	
   

  	
  Section 1.1

  
	
  “Working Capital
  Loans”

  	
   

  	
  Section 4.1

  

 

 ASSET PURCHASE AGREEMENT – PAGE 25
 

 

IN WITNESS WHEREOF, the Parties hereto have entered
into this Agreement as of the date and year first above written.

SELLERS:

NCS
I, LLC

By: _________________________________________ 

Name: _______________________________________ 

Title: ________________________________________ 

AMRESCO
SBA HOLDINGS, INC.

By: _________________________________________ 

Name: _______________________________________ 

Title: ________________________________________ 

PURCHASER:

AMERICAN
BUSINESS LENDING, INC.

By: _________________________________________ 

Name: _______________________________________ 

Title: ________________________________________ 

FIRSTCITY
BLC:

FIRSTCITY
BUSINESS LENDING CORPORATION

By: _________________________________________ 

Name: _______________________________________ 

Title: ________________________________________ 

 ASSET PURCHASE AGREEMENT – PAGE 26
 

 

FIRSTCITY:

FIRSTCITY
FINANCIAL CORPORATION

By: _________________________________________ 

Name: _______________________________________ 

Title: ________________________________________ 

 

 ASSET PURCHASE AGREEMENT – PAGE 27

 

 

LIST OF EXHIBITS
AND SCHEDULES

	
  EXHIBITS

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Exhibit 1.4

  	
   

  	
  Form of Secured Note

  
	
   

  	
   

  	
   

  
	
  Exhibit 1.7(a)

  	
   

  	
  Form of Security Agreement

  
	
   

  	
   

  	
   

  
	
  Exhibit 2.7

  	
   

  	
  Financial Statements of Seller

  
	
   

  	
   

  	
   

  
	
  Exhibit 4.1

  	
   

  	
  Pre-Operational Budget

  
	
   

  	
   

  	
   

  
	
  SCHEDULES

  	
   

  	
   

  
	
   

  	
   

  	
   

  
	
  Schedule 1.1(a)

  	
   

  	
  Transferred Loans

  
	
   

  	
   

  	
   

  
	
  Schedule 1.1(b)

  	
   

  	
  Loan Certificates

  
	
   

  	
   

  	
   

  
	
  Schedule 1.2(b)

  	
   

  	
  Pooling and Servicing Agreements

  
	
   

  	
   

  	
   

  
	
  Schedule 2.3

  	
   

  	
  Required Consents

  
	
   

  	
   

  	
   

  
	
  Schedule 2.8

  	
   

  	
  Loan Schedule

  
	
   

  	
   

  	
   

  
	
  Schedule 3.3

  	
   

  	
  Consents and Approvals

  
	
   

  	
   

  	
   

  
	
  Schedule 4.7(d)

  	
   

  	
  BLX Servicing Reports

  
	
   

  	
   

  	
   

  
	
  Schedule 4.8

  	
   

  	
  Bank Accounts

  

 

Pursuant to Item 601(b) (2) of
Regulation S-K, the actual schedules and exhibits to this Asset Purchase
Agreement are not being filed herewith. The Registrant agrees to furnish
supplementally a copy of any of these schedules and exhibits to the Commission
upon request.

 ASSET PURCHASE AGREEMENT – PAGE 28Exhibit 4.01

EXECUTION VERSION

July 6, 2006

REGISTRATION RIGHTS AGREEMENT

This REGISTRATION
RIGHTS AGREEMENT dated July 6, 2006 (this ”Agreement”) is
entered into by and among MarkWest Energy Partners L.P., a limited partnership
organized under the laws of the State of Delaware (the “Partnership”),
MarkWest Energy Finance Corporation, a corporation organized under the laws of
the State of Delaware (“Finance Corp” and, together with the
Partnership, the “Issuers”), the guarantors listed
in Schedule 1 hereto (the “Guarantors”), and RBC Capital Markets
Corporation, J.P. Morgan Securities Inc., Wachovia Capital Markets, LLC, A.G.
Edwards & Sons, Inc., Credit Suisse Securities (USA) LLC, Fortis
Securities LLC, Mizuho International plc, Piper Jaffray & Co. and SG Americas
Securities, LLC (collectively, the “Initial Purchasers”).

The Issuers, the
Guarantors and the Initial Purchasers are parties to that certain Purchase
Agreement dated as of June 30, 2006 (the “Purchase Agreement”),
which provides for the sale by the Issuers to the Initial Purchasers of
$200,000,000 aggregate principal amount of the Issuers’ 8.500% Senior Notes due
2016 (the “Securities”) which will be guaranteed on an unsecured senior
basis by each of the Guarantors. As an inducement to the Initial Purchasers to
enter into the Purchase Agreement, the Issuers and the Guarantors have agreed
to provide to the Initial Purchasers and their direct and indirect transferees
the registration rights set forth in this Agreement. The execution and delivery
of this Agreement is a condition to the closing under the Purchase Agreement.

In consideration
of the foregoing, the parties hereto agree as follows:

1.             Definitions. As used in this
Agreement, the following terms shall have the following meanings:

“Business Day” shall have the meaning ascribed thereto in the
Indenture.

“DTC” shall
mean the Depository Trust Company.

“Exchange Act”
shall mean the Securities Exchange Act of 1934, as amended from time to time.

“Exchange Dates”
shall have the meaning set forth in Section 2(a)(ii) hereof.

“Exchange Offer”
shall mean the exchange offer by the Issuers and the Guarantors of Exchange
Securities for Registrable Securities pursuant to Section 2(a) hereof.

 1
 

 

 

“Exchange Offer
Registration” shall mean a registration under the Securities Act effected
pursuant to Section 2(a) hereof.

“Exchange Offer
Registration Statement” shall mean an exchange offer registration statement
on Form S-4 (or, if applicable, on another appropriate form) and all
amendments and supplements to such registration statement, in each case
including the Prospectus contained therein, all exhibits thereto and any
document incorporated by reference therein.

“Exchange
Securities” shall mean senior notes issued by the Issuers and guaranteed by
the Guarantors under the Indenture containing terms identical to the Securities
(except that the Exchange Securities will not be subject to restrictions on
transfer or to any increase in annual interest rate for failure to comply with
this Agreement) and to be offered to Holders of Securities in exchange for
Securities pursuant to the Exchange Offer.

“Finance Corp”
shall have the meaning set forth in the preamble and shall also include Finance
Corp’s successors.

“Guarantors”
shall have the meaning set forth in the preamble and shall also include any
Guarantor’s successors.

“Holders”
shall mean the Initial Purchasers, for so long as they own any Registrable
Securities, and each of their successors, assigns and direct and indirect
transferees who become owners of Registrable Securities under the Indenture;
provided that for purposes of Sections 4 and 5 of this Agreement, the term “Holders”
shall include Participating Broker-Dealers.

“Indemnified
Person” shall have the meaning set forth in Section 5(c) hereof.

“Indemnifying
Person” shall have the meaning set forth in Section 5(c) hereof..

“Indenture”
shall mean the Indenture relating to the Securities dated as of July 6, 2006
among the Issuers, the Guarantors and Wells Fargo Bank, National Association,
as trustee, and as the same may be amended from time to time in accordance with
the terms thereof.

“Initial
Purchasers” shall have the meaning set forth in the preamble.

“Inspector”
shall have the meaning set forth in Section 3(a)(xiii) hereof.

“Issuer FWP”
shall have the meaning set forth in Section 5(a) hereof.

“Issuers”
shall have the meaning set forth in the preamble.

 2
 

 

 

“Majority
Holders” shall mean the Holders of a majority of the aggregate principal
amount of the outstanding Registrable Securities; provided that whenever the
consent or approval of Holders of a specified percentage of Registrable
Securities is required hereunder, any Registrable Securities owned directly or
indirectly by the Issuers or any of their affiliates shall not be counted in
determining whether such consent or approval was given by the Holders of such
required percentage or amount; and provided, further, that if the Issuers shall
issue any additional Securities under the Indenture prior to consummation of
the Exchange Offer or, if applicable, the effectiveness of any Shelf
Registration Statement, such additional Securities and the Registrable
Securities to which this Agreement relates shall be treated together as one
class for purposes of determining whether the consent or approval of Holders of
a specified percentage of Registrable Securities has been obtained.

“Participating
Broker-Dealers” shall have the meaning set forth in Section 4(a) hereof.

“Partnership”
shall have the meaning set forth in the preamble and shall also include the
Partnership’s successors.

“Person”
shall mean an individual, partnership, limited liability company, corporation,
trust or unincorporated organization, or a government or agency or political
subdivision thereof.

“Prospectus”
shall mean the prospectus included in a Registration Statement, including any
preliminary prospectus, and any such prospectus as amended or supplemented by
any prospectus supplement, including a prospectus supplement with respect to
the terms of the offering of any portion of the Registrable Securities covered by
a Shelf Registration Statement, and by all other amendments and supplements to
such prospectus, and in each case including any document incorporated by
reference therein.

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

“Registrable
Securities” shall mean the Securities; provided that the Securities shall
cease to be Registrable Securities (i) when a Registration Statement with
respect to such Securities has been declared effective under the Securities Act
and such Securities have been exchanged or disposed of pursuant to such
Registration Statement, (ii) when such Securities are eligible to be sold
pursuant to Rule 144(k) (or any similar provision then in force, but
not Rule 144A) under the Securities Act or (iii) when such Securities
cease to be outstanding.

“Registration
Expenses” shall mean any and all expenses incident to performance of or
compliance by the Issuers and the Guarantors with this Agreement, including
without limitation: (i) all SEC, stock exchange or National Association of
Securities Dealers, Inc. registration and filing fees, (ii) all fees
and expenses incurred in connection with compliance with state securities or
blue sky laws (including reasonable fees and disbursements of counsel for any
Underwriters or Holders in connection with blue sky 

 3
 

 

 

qualification of any Exchange Securities or
Registrable Securities), (iii) all expenses of any Persons in preparing or
assisting in preparing, word processing, printing and distributing any
Registration Statement, any Prospectus and any amendments or supplements
thereto, any underwriting agreements, securities sales agreements or other
similar agreements and any other documents relating to the performance of and
compliance with this Agreement, (iv) all rating agency fees, (v) all
fees and disbursements relating to the qualification of the Indenture under
applicable securities laws, including without limitation the Trust Indenture
Act, (vi) the fees and disbursements of the Trustee and its counsel, (vii) the
fees and disbursements of counsel for the Issuers and the Guarantors and, in
the case of a Shelf Registration Statement, the fees and disbursements of one
counsel for the Holders (which counsel shall be selected by the Majority
Holders and which counsel may also be counsel for the Initial Purchasers) and (viii) the
fees and disbursements of the independent public accountants of the Issuers and
the Guarantors, including the expenses of any special audits or “comfort”
letters required by or incident to the performance of and compliance with this
Agreement, but excluding fees and expenses of counsel to the Underwriters
(other than fees and expenses set forth in clause (ii) above) or the
Holders and underwriting discounts and commissions, brokerage commissions and
transfer taxes, if any, relating to the sale or disposition of Registrable
Securities by a Holder.

“Registration
Statement” shall mean any registration statement of the Issuers and the
Guarantors that covers any of the Exchange Securities or Registrable Securities
pursuant to the provisions of this Agreement and all amendments and supplements
to any such registration statement, including post-effective amendments, in
each case including the Prospectus contained therein, all exhibits thereto and
any document incorporated by reference therein.

“SEC” shall
mean the United States Securities and Exchange Commission.

“Securities”
shall have the meaning set forth in the preamble.

“Securities Act”
shall mean the Securities Act of 1933, as amended from time to time.

“Shelf
Effectiveness Period” shall have the meaning set forth in Section 2(b) hereof.

“Shelf
Registration” shall mean a registration effected pursuant to Section 2(b) hereof.

“Shelf
Registration Statement” shall mean a “shelf” registration statement of the
Issuers and the Guarantors that covers all or a portion of the Registrable
Securities (but no other securities unless approved by the Holders of a
majority of the Registrable Securities to be covered by such Shelf Registration
Statement) on an appropriate form under Rule 415 under the Securities Act,
or any similar rule that may be adopted by the SEC, and all amendments and
supplements to such registration statement, including post-

 4
 

 

 

effective amendments, in each case including the
Prospectus contained therein, all exhibits thereto and any document
incorporated by reference therein.

“Staff”
shall mean the staff of the SEC.

“Target
Registration Date” shall have the meaning set for in Section 2(d) hereof.

“Trust
Indenture Act” shall mean the Trust Indenture Act of 1939, as amended from
time to time.

“Trustee”
shall mean the trustee with respect to the Securities under the Indenture.

“Underwriter”
shall have the meaning set forth in Section 3(f) hereof.

“Underwritten
Offering” shall mean an offering in which Registrable Securities are sold
to an Underwriter for reoffering to the public.

2.             Registration Under the
Securities Act. (a)  To the extent not prohibited by any applicable
law or applicable interpretations of the Staff, the Issuers and the Guarantors
shall use their reasonable best efforts to cause to be filed an Exchange Offer
Registration Statement covering an offer to the Holders to exchange all the
Registrable Securities for Exchange Securities. The Issuers and the Guarantors
shall commence the Exchange Offer promptly after the Exchange Offer
Registration Statement is declared effective by the SEC and use their
reasonable best efforts to complete the Exchange Offer not later than 60 days
after such effective date.

The Issuers and
the Guarantors shall commence the Exchange Offer by mailing the related
Prospectus, appropriate letters of transmittal and other accompanying documents
to each Holder stating, in addition to such other disclosures as are required
by applicable law, substantially the following:

(i)                                     that
the Exchange Offer is being made pursuant to this Agreement and that all
Registrable Securities validly tendered and not properly withdrawn will be
accepted for exchange;

(ii)                                  the
dates of acceptance for exchange (which shall be a period of at least 20
Business Days from the date such notice is mailed) (the “Exchange Dates”);

(iii)                               that
any Registrable Security not tendered will remain outstanding and continue to
accrue interest but will not retain any rights under this Agreement;

(iv)                              that
any Holder electing to have a Registrable Security exchanged pursuant to the
Exchange Offer will be required, (x) in the case a Holder electing to
exchange a Registrable Security in global form, to comply with the applicable
procedures of DTC for book-entry tenders, and, (y) in the case of a Holder
electing to exchange a Registrable Security in certificated form, to surrender
such Registrable Security, 

 5
 

 

 

together with the
appropriate letters of transmittal, to the institution and at the address
(located in the Borough of Manhattan, The City of New York) and in the manner
specified in the notice, prior to the close of business on the last Exchange
Date; and

(v)                                 that
any Holder will be entitled to withdraw its election, not later than the close
of business on the last Exchange Date, by, (x) in the case of a Holder
withdrawing its election to exchange a Registrable Security in global form,
complying with the applicable procedures of DTC for withdrawal of tenders, and,
(y) in the case of a Holder withdrawing its election to exchange a Registrable
Security in certificated form, sending to the institution and at the address
(located in the Borough of Manhattan, The City of New York) specified in the
notice, a telegram, facsimile transmission or letter setting forth the name of
such Holder, the principal amount of Registrable Securities delivered for
exchange and a statement that such Holder is withdrawing its election to have
such Securities exchanged.

As
a condition to participating in the Exchange Offer, a Holder will be required
to represent to the Issuers and the Guarantors that (i) any Exchange
Securities to be received by it will be acquired in the ordinary course of its
business, (ii) at the time of the commencement of the Exchange Offer it
has no arrangement or understanding with any Person to participate in the
distribution (within the meaning of the Securities Act) of the Exchange
Securities in violation of the provisions of the Securities Act, (iii) it
is not an “affiliate” (within the meaning of Rule 405 under the Securities
Act) of either of the Issuers or any Guarantor and (iv) if such Holder is
a broker-dealer that will receive Exchange Securities for its own account in
exchange for Registrable Securities that were acquired as a result of
market-making or other trading activities, then such Holder will deliver a
Prospectus in connection with any resale of such Exchange Securities.

As soon as
practicable after the last Exchange Date, the Issuers and the Guarantors shall:

(i)                                     accept
for exchange Registrable Securities or portions thereof validly tendered and
not properly withdrawn pursuant to the Exchange Offer; and

(ii)                                  deliver,
or cause to be delivered, to the Trustee for cancellation all Registrable
Securities or portions thereof so accepted for exchange by the Issuers and
issue, and cause the Trustee to promptly authenticate and deliver to each
Holder, Exchange Securities equal in principal amount to the principal amount
of the Registrable Securities surrendered by such Holder.

The Issuers and
the Guarantors shall use their reasonable best efforts to complete the Exchange
Offer as provided above and shall comply with the applicable requirements of
the Securities Act, the Exchange Act and other applicable laws and regulations
in connection with the Exchange Offer. The Exchange Offer shall not be subject
to any conditions, other than that the Exchange Offer does not violate any
applicable law or applicable interpretations of the Staff.

 6
 

 

 

(b)           In the event that (i) the
Issuers and the Guarantors determine that the Exchange Offer Registration
provided for in Section 2(a) above is not available or may not be
completed as soon as practicable after the last Exchange Date because it would
violate any applicable law or applicable interpretations of the Staff, (ii) the
Exchange Offer is not for any other reason completed by January 6, 2007 or
(iii) any Initial Purchaser shall so request in connection with any offer
or sale of Registrable Securities that are not eligible to be exchanged for
Exchange Securities, the Issuers and the Guarantors shall use their reasonable
best efforts to cause to be filed as soon as practicable after such
determination, date or request, as the case may be, a Shelf Registration
Statement providing for the sale of all the Registrable Securities by the
Holders thereof and to have such Shelf Registration Statement declared
effective by the SEC.

In the event that
the Issuers and the Guarantors are required to file a Shelf Registration
Statement pursuant to clause (iii) of the preceding sentence, the Issuers
and the Guarantors shall use their reasonable best efforts to file and have
declared effective by the SEC both an Exchange Offer Registration Statement
pursuant to Section 2(a) with respect to all Registrable Securities
and a Shelf Registration Statement (which may be a combined Registration
Statement with the Exchange Offer Registration Statement) with respect to
offers and sales of Registrable Securities held by the Initial Purchasers after
completion of the Exchange Offer.

The Issuers and
the Guarantors agree to use their reasonable best efforts to keep the Shelf
Registration Statement continuously effective until the expiration of the
period referred to in Rule 144(k) (or any similar rule then in
force, but not Rule 144A) under the Securities Act with respect to the Registrable
Securities or such shorter period that will terminate when all the Registrable
Securities covered by the Shelf Registration Statement have been sold pursuant
to the Shelf Registration Statement (the “Shelf Effectiveness Period”). The
Issuers and the Guarantors further agree to supplement or amend the Shelf
Registration Statement and the related Prospectus if required by the rules,
regulations or instructions applicable to the registration form used by the
Issuers for such Shelf Registration Statement or by the Securities Act or by
any other rules and regulations thereunder for shelf registration or if
reasonably requested by a Holder of Registrable Securities with respect to
information relating to such Holder, and to use their reasonable best efforts
to cause any such amendment to become effective and such Shelf Registration
Statement and Prospectus to become usable as soon as thereafter practicable. The
Issuers and the Guarantors agree to furnish to the Holders of Registrable
Securities copies of any such supplement or amendment promptly after its being
used or filed with the SEC.

(c)           The Issuers and the Guarantors shall
pay all Registration Expenses in connection with any registration pursuant to Section 2(a) or
Section 2(b) hereof. Each Holder shall pay all underwriting discounts
and commissions, brokerage commissions and transfer taxes, if any, relating to
the sale or disposition of such Holder’s Registrable Securities pursuant to the
Shelf Registration Statement.

 7
 

 

 

(d)           An Exchange Offer Registration
Statement pursuant to Section 2(a) hereof or a Shelf Registration
Statement pursuant to Section 2(b) hereof will not be deemed to have
become effective unless it has been declared effective by the SEC.

In the event that
either the Exchange Offer is not completed or the Shelf Registration Statement,
if required hereby, is not declared effective on or prior to January 6,
2007 (the “Target Registration Date”), the interest rate on the
Registrable Securities will be increased by (i) 0.50% per annum for the
first 90-day period immediately following the Target Registration Date
and (ii) an additional 0.25% per annum with respect to each subsequent 90-day
period, in each case until the Exchange Offer is completed or the Shelf
Registration Statement, if required hereby, is declared effective by the SEC or
the Securities become freely tradable under the Securities Act, up to a maximum
of 1.00% per annum of additional interest; provided that if an
obligation to file a Shelf Registration Statement arises pursuant to Section 2(b)(iii) and
the applicable Initial Purchaser does not make the request to file a Shelf
Registration Statement by November 6, 2006, then the Target Registration
Date shall be extended by the number of days from and including November 6,
2006 to and including the date on which
such request is made.

If the Shelf
Registration Statement, if required hereby, has been declared effective and
thereafter either ceases to be effective or the Prospectus contained therein
ceases to be usable at any time during the Shelf Effectiveness Period, and such
failure to remain effective or usable exists for more than 60 days (whether or
not consecutive) in any 12-month period, then the interest rate on the
Registrable Securities will be increased by (i) 0.50% per annum commencing
on the 61st day in such 12-month period and (ii) an additional 0.25%
per annum with respect to each subsequent 90-day period (whether or not
consecutive) and ending on such date that the Shelf Registration Statement has
again been declared effective or the Prospectus again becomes usable, up to a
maximum of 1.00% per annum of additional interest.

(e)           Without limiting the remedies
available to the Initial Purchasers and the Holders, the Issuers and the
Guarantors acknowledge that any failure by the Issuers or the Guarantors to
comply with their obligations under Section 2(a) and Section 2(b) hereof
may result in material irreparable injury to the Initial Purchasers or the
Holders for which there is no adequate remedy at law, that it will not be possible
to measure damages for such injuries precisely and that, in the event of any
such failure, the Initial Purchasers or any Holder may obtain such relief as
may be required to specifically enforce the Issuers’ and the Guarantors’
obligations under Section 2(a) and Section 2(b) hereof.

3.             Registration Procedures.
(a) In connection with their obligations pursuant to Section 2(a) and
Section 2(b) hereof, the Issuers and the Guarantors shall as
expeditiously as possible:

(i)            prepare and file with the SEC a
Registration Statement on the appropriate form under the Securities Act, which
form (x) shall be selected by the Issuers and the 

 8
 

 

 

Guarantors, (y) shall,
in the case of a Shelf Registration, be available for the sale of the
Registrable Securities by the Holders thereof and (z) shall comply as to
form in all material respects with the requirements of the applicable form and
include all financial statements required by the SEC to be filed therewith; and
use their reasonable best efforts to cause such Registration Statement to
become effective and remain effective for the applicable period in accordance
with Section 2 hereof;

(ii)           prepare and file with the SEC such
amendments and post-effective amendments to each Registration Statement as may
be necessary to keep such Registration Statement effective for the applicable
period in accordance with Section 2 hereof and cause each Prospectus to be
supplemented by any required prospectus supplement and, as so supplemented, to
be filed pursuant to Rule 424 under the Securities Act; and keep each
Prospectus current during the period described in Section 4(3) of and
Rule 174 under the Securities Act that is applicable to transactions by
brokers or dealers with respect to the Registrable Securities or Exchange
Securities;

(iii)          in the case of a Shelf Registration,
furnish to each Holder of Registrable Securities, to counsel for the Initial
Purchasers, to counsel for such Holders and to each Underwriter of an
Underwritten Offering of Registrable Securities, if any, without charge, as
many copies of each Prospectus, including each preliminary Prospectus, and any
amendment or supplement thereto, in order to facilitate the sale or other
disposition of the Registrable Securities thereunder; and the Issuers and the
Guarantors consent to the use of such Prospectus and any amendment or
supplement thereto in accordance with applicable law by each of the Holders of
Registrable Securities and any such Underwriters in connection with the
offering and sale of the Registrable Securities covered by and in the manner
described in such Prospectus or any amendment or supplement thereto in
accordance with applicable law;

(iv)          use their reasonable best efforts to
register or qualify the Registrable Securities under all applicable state
securities or blue sky laws of such jurisdictions in the United States as any
Holder of Registrable Securities covered by a Registration Statement shall
reasonably request in writing by the time the applicable Registration Statement
is declared effective by the SEC; cooperate with such Holders in connection
with any filings required to be made with the National Association of
Securities Dealers, Inc.; and do any and all other acts and things that
may be reasonably necessary or advisable to enable each Holder to complete the
disposition in each such jurisdiction of the Registrable Securities owned by
such Holder; provided that none of the Issuers or the Guarantors shall
be required to (1) qualify as a foreign corporation or other entity or as
a dealer in securities in any such jurisdiction where it would not otherwise be
required to so qualify, (2) file any general consent to service of process
in any such jurisdiction or (3) subject itself to taxation in any such
jurisdiction if it is not so subject;

(v)           in the case of a Shelf Registration,
notify each Holder of Registrable Securities, counsel for such Holders and
counsel for the Initial Purchasers promptly and, if requested by any such
Holder or counsel, confirm such advice in writing (1) when a Registration
Statement has become effective and when any post-effective amendment 

 9
 

 

 

thereto has been filed
and becomes effective, (2) of any request by the SEC or any state
securities authority for amendments and supplements to a Registration Statement
and Prospectus or for additional information after the Registration Statement
has become effective, (3) of the issuance by the SEC or any state
securities authority of any stop order suspending the effectiveness of a
Registration Statement or the initiation of any proceedings for that purpose, (4) if,
between the effective date of a Registration Statement and the closing of any
sale of Registrable Securities covered thereby, the representations and
warranties of either of the Issuers or any Guarantor contained in any
underwriting agreement, securities sales agreement or other similar agreement,
if any, relating to an offering of such Registrable Securities cease to be true
and correct in all material respects or if either of the Issuers or any
Guarantor receives any notification with respect to the suspension of the
qualification of the Registrable Securities for sale in any jurisdiction or the
initiation of any proceeding for such purpose, (5) of the happening of any
event during the period a Shelf Registration Statement is effective that makes
any statement made in such Registration Statement or the related Prospectus
untrue in any material respect or that requires the making of any changes in
such Registration Statement or Prospectus in order to make the statements
therein not misleading and (6) of any determination by either of the
Issuers or any Guarantor that a post-effective amendment to a Registration
Statement would be appropriate;

(vi)          use their reasonable best efforts to
obtain the withdrawal of any order suspending the effectiveness of a
Registration Statement at the earliest possible moment and provide immediate
notice to each Holder of the withdrawal of any such order;

(vii)         in the case of a Shelf Registration,
furnish to each Holder of Registrable Securities, without charge, at least one
conformed copy of each Registration Statement and any post-effective amendment
thereto (without any documents incorporated therein by reference or exhibits
thereto, unless requested);

(viii)        in the case of a Shelf Registration,
cooperate with the Holders of any Registrable Securities in certificated form
to facilitate the timely preparation and delivery of certificates representing
Registrable Securities to be sold and not bearing any restrictive legends and
enable such Registrable Securities to be issued in such denominations and
registered in such names (consistent with the provisions of the Indenture) as
such Holders may reasonably request at least one Business Day prior to the
closing of any sale of Registrable Securities in certificated form;

(ix)           in the case of a Shelf Registration,
upon the occurrence of any event contemplated by Section 3(a)(v)(5) hereof,
use their reasonable best efforts to prepare and file with the SEC a supplement
or post-effective amendment to such Shelf Registration Statement or the related
Prospectus or any document incorporated therein by reference or file any other
required document so that, as thereafter delivered to purchasers of the
Registrable Securities, such Prospectus will not contain any untrue statement
of a material fact or omit to state a material fact necessary to make the
statements therein, in the light of the circumstances under which they were
made, not misleading; and the Issuers and the Guarantors shall notify the
Holders of Registrable Securities to suspend 

 10
 

 

 

use of the Prospectus as
promptly as practicable after the occurrence of such an event, and such Holders
hereby agree to suspend use of the Prospectus until the Issuers and the
Guarantors have amended or supplemented the Prospectus to correct such
misstatement or omission;

(x)            a reasonable time prior to the
filing of any Registration Statement, any Prospectus, any amendment to a
Registration Statement or amendment or supplement to a Prospectus or of any
document that is to be incorporated by reference into a Registration Statement
or a Prospectus after initial filing of a Registration Statement, provide
copies of such document to the Initial Purchasers and their counsel (and, in
the case of a Shelf Registration Statement, to the Holders of Registrable
Securities and their counsel) and make such of the representatives of the
Issuers and the Guarantors as shall be reasonably requested by the Initial
Purchasers or their counsel (and, in the case of a Shelf Registration
Statement, the Holders of Registrable Securities or their counsel) available
for discussion of such document; and the Issuers and the Guarantors shall not,
at any time after initial filing of a Registration Statement, file any
Prospectus, any amendment of or supplement to a Registration Statement or a
Prospectus, or any document that is to be incorporated by reference into a
Registration Statement or a Prospectus, of which the Initial Purchasers and
their counsel (and, in the case of a Shelf Registration Statement, the Holders
of Registrable Securities and their counsel) shall not have previously been
advised and furnished a copy or to which the Initial Purchasers or their
counsel (and, in the case of a Shelf Registration Statement, the Holders of
Registrable Securities or their counsel) shall object; provided, that
this clause shall not apply to any filing by the Partnership of any Annual
Report on Form 10-K, Quarterly Report on Form 10-Q or
Current Report on Form 8-K with respect to matters unrelated to the
Securities and the offering or exchange therefor;

(xi)           obtain a CUSIP number for all
Exchange Securities or Registrable Securities, as the case may be, not later
than the effective date of a Registration Statement;

(xii)          cause the Indenture to be qualified
under the Trust Indenture Act in connection with the registration of the
Exchange Securities or Registrable Securities, as the case may be; cooperate
with the Trustee and the Holders to effect such changes to the Indenture as may
be required for the Indenture to be so qualified in accordance with the terms
of the Trust Indenture Act; and execute, and use their reasonable best efforts
to cause the Trustee to execute, all documents as may be required to effect
such changes and all other forms and documents required to be filed with the
SEC to enable the Indenture to be so qualified in a timely manner;

(xiii)         in the case of a Shelf Registration,
make available for inspection by a representative of the Holders of the
Registrable Securities (an “Inspector”), any Underwriter participating
in any disposition pursuant to such Shelf Registration Statement, any attorneys
and accountants designated by the Holders of Registrable Securities and any
attorneys and accountants designated by such Underwriter, at reasonable times
and in a reasonable manner, all pertinent financial and other records, 

 11
 

 

 

documents and properties
of the Issuers and the Guarantors, and cause the respective officers, directors
and employees of the Issuers and the Guarantors to supply all information
reasonably requested by any such Inspector, Underwriter, attorney or accountant
in connection with a Shelf Registration Statement; provided that if any such
information is identified by either of the Issuers or any Guarantor as being
confidential or proprietary, each Person receiving such information shall take
such actions as are reasonably necessary to protect the confidentiality of such
information to the extent such action is otherwise not inconsistent with, an
impairment of or in derogation of the rights and interests of any Inspector,
Holder or Underwriter);

(xiv)        in the case of a Shelf Registration, use
their reasonable best efforts to cause all Registrable Securities to be listed
on any securities exchange or any automated quotation system on which similar
securities issued or guaranteed by either of the Issuers or any Guarantor are
then listed if requested by the Majority Holders, to the extent such
Registrable Securities satisfy applicable listing requirements;

(xv)         if reasonably requested by any Holder
of Registrable Securities covered by a Shelf Registration Statement, promptly
include in a Prospectus supplement or post-effective amendment such information
with respect to such Holder as such Holder reasonably requests to be included
therein and make all required filings of such Prospectus supplement or such
post-effective amendment as soon as the Issuers have received notification of
the matters to be so included in such filing; and

(xvi)        in the case of a Shelf Registration,
enter into such customary agreements and take all such other actions in
connection therewith (including those requested by the Holders of a majority in
principal amount of the Registrable Securities being sold) in order to expedite
or facilitate the disposition of such Registrable Securities including, but not
limited to, an Underwritten Offering and in such connection, (1) to the
extent possible, make such representations and warranties to the Holders and
any Underwriters of such Registrable Securities with respect to the business of
the Issuers and their subsidiaries and the Registration Statement, Prospectus
and documents incorporated by reference or deemed incorporated by reference, if
any, in each case, in form, substance and scope as are customarily made by
issuers to underwriters in underwritten offerings and confirm the same if and
when requested, (2) obtain opinions of counsel to the Issuers and the
Guarantors (which counsel and opinions, in form, scope and substance, shall be
reasonably satisfactory to the Holders and such Underwriters and their
respective counsel) addressed to each selling Holder and Underwriter of
Registrable Securities, covering the matters customarily covered in opinions
requested in underwritten offerings, (3) obtain “comfort” letters from the
independent certified public accountants of the Issuers and the Guarantors
(and, if necessary, any other certified public accountant of any subsidiary of
either of the Issuers or any Guarantor, or of any business acquired by either
of the Issuers or any Guarantor for which financial statements and financial
data are or are required to be included in the Registration Statement)
addressed to each selling Holder and Underwriter of Registrable Securities,
such letters to be in customary form and covering matters of the type
customarily covered in “comfort” letters in connection with underwritten
offerings and (4) deliver such documents and certificates as may be 

 12
 

 

 

reasonably requested by
the Holders of a majority in principal amount of the Registrable Securities
being sold or the Underwriters, and which are customarily delivered in
underwritten offerings, to evidence the continued validity of the
representations and warranties of the Issuers and the Guarantors made pursuant
to clause (1) above and to evidence compliance with any customary
conditions contained in an underwriting agreement.

(b)           The Issuers shall not, without the
prior consent of the Initial Purchasers (such consent not to be unreasonably
withheld), make any offer relating to the Securities that would reasonably be
expected to constitute a “free writing prospectus,” as defined in Rule 405
under the Securities Act.

(c)           In the case of a Shelf Registration
Statement, the Issuers may require each Holder of Registrable Securities to
furnish to the Issuers such information regarding such Holder and the proposed
disposition by such Holder of such Registrable Securities as the Issuers and
the Guarantors may from time to time reasonably request in writing.

(d)           In the case of a Shelf Registration
Statement, each Holder of Registrable Securities agrees that, upon receipt of
any notice from the Issuers and the Guarantors of the happening of any event of
the kind described in Section 3(a)(v)(3) or 3(a)(v)(5) hereof,
such Holder will forthwith discontinue disposition of Registrable Securities
pursuant to the Shelf Registration Statement until such Holder’s receipt of the
copies of the supplemented or amended Prospectus contemplated by Section 3(a)(ix) hereof
and, if so directed by the Issuers and the Guarantors, such Holder will deliver
to the Issuers and the Guarantors all copies in its possession, other than
permanent file copies then in such Holder’s possession, of the Prospectus
covering such Registrable Securities that is current at the time of receipt of
such notice.

(e)           If the Issuers and the Guarantors
shall give any notice pursuant to Section 3(d) hereof to suspend the
disposition of Registrable Securities pursuant to a Shelf Registration
Statement, the Issuers and the Guarantors shall extend the period during which
such Shelf Registration Statement shall be maintained effective pursuant to
this Agreement by the number of days during the period from and including the
date of the giving of such notice to and including the date when the Holders of
such Registrable Securities shall have received copies of the supplemented or
amended Prospectus necessary to resume such dispositions. Any such suspensions
shall not, in the aggregate, exceed 90 days during any 365-day period.

(f)            The Holders of Registrable
Securities covered by a Shelf Registration Statement who desire to do so may
sell such Registrable Securities in an Underwritten Offering. In any such
Underwritten Offering, the investment bank or investment banks and manager or
managers (each an “Underwriter”) that will administer the offering will
be selected by the Holders of a majority in principal amount of the Registrable
Securities included in such offering.

 13
 

 

 

4.             Participation of Broker-Dealers
in Exchange Offer. (a)  The Staff has taken the position that any
broker-dealer that receives Exchange Securities for its own account in the
Exchange Offer in exchange for Securities that were acquired by such
broker-dealer as a result of market-making or other trading activities (a “Participating
Broker-Dealer”) may be deemed to be an “underwriter” within the meaning of
the Securities Act and must deliver a prospectus meeting the requirements of
the Securities Act in connection with any resale of such Exchange Securities.

The Issuers and
the Guarantors understand that it is the Staff’s position that if the
Prospectus contained in the Exchange Offer Registration Statement includes a
plan of distribution containing a statement to the above effect and the means
by which Participating Broker-Dealers may resell the Exchange Securities,
without naming the Participating Broker-Dealers or specifying the amount of
Exchange Securities owned by them, such Prospectus may be delivered by
Participating Broker-Dealers to satisfy their prospectus delivery obligation
under the Securities Act in connection with resales of Exchange Securities for
their own accounts, so long as the Prospectus otherwise meets the requirements
of the Securities Act.

(b)           In light of the above, and
notwithstanding the other provisions of this Agreement, the Issuers and the
Guarantors agree to amend or supplement the Prospectus contained in the
Exchange Offer Registration Statement for a period of up to 180 days after the
last Exchange Date (as such period may be extended pursuant to Section 3(e) of
this Agreement), if requested by the Initial Purchasers or by one or more
Participating Broker-Dealers, in order to expedite or facilitate the
disposition of any Exchange Securities by Participating Broker-Dealers
consistent with the positions of the Staff recited in Section 4(a) above.
The Issuers and the Guarantors further agree that Participating Broker-Dealers
shall be authorized to deliver such Prospectus during such period in connection
with the resales contemplated by this Section 4.

(c)           The Initial Purchasers shall have no
liability to either of the Issuers, any Guarantor or any Holder with respect to
any request that they may make pursuant to Section 4(b) above.

5.             Indemnification and Contribution.
(a)  Each Issuer and each Guarantor, jointly and severally, agree to
indemnify and hold harmless each Initial Purchaser and each Holder, their
respective affiliates, directors and officers and each Person, if any, who
controls any Initial Purchaser or any Holder within the meaning of Section 15
of the Securities Act or Section 20 of the Exchange Act, from and against
any and all losses, claims, damages and liabilities (including, without
limitation, legal fees and other expenses incurred in connection with any suit,
action or proceeding or any claim asserted, as such fees and expenses are
incurred), that arise out of, or are based upon, any untrue statement or
alleged untrue statement of a material fact contained in any Registration
Statement, any Prospectus or any “issuer free writing prospectus,” as defined
in Rule 433 under the Securities Act (“Issuer FWP”), or any
omission or alleged omission to state therein a material fact required to be
stated therein or necessary in order to make the statements therein, in the
light of the circumstances under which they were made, not misleading, except
insofar as such losses, claims, damages or liabilities arise out of, or 

 14
 

 

 

are based upon, any
untrue statement or omission or alleged untrue statement or omission made in
reliance upon and in conformity with any information relating to any Initial
Purchaser or information relating to any Holder furnished to the Issuers in
writing by or on behalf of such Initial Purchaser or selling Holder expressly
for use therein. In connection with any Underwritten Offering permitted by Section 3,
the Issuers and the Guarantors, jointly and severally, will also indemnify the
Underwriters, if any, selling brokers, dealers and similar securities industry
professionals participating in the distribution, their respective affiliates
and each Person who controls such Persons (within the meaning of the Securities
Act and the Exchange Act) to the same extent as provided above with respect to
the indemnification of the Holders, if requested in connection with any
Registration Statement.

(b)           Each Holder agrees, severally and not
jointly, to indemnify and hold harmless the Issuers, the Guarantors, the
Initial Purchasers and the other selling Holders, the directors of the Issuers
and the Guarantors, each officer of the Issuers and the Guarantors who signed
the Registration Statement and each Person, if any, who controls the Issuers,
the Guarantors, any Initial Purchaser and any other selling Holder within the
meaning of Section 15 of the Securities Act or Section 20 of the
Exchange Act to the same extent as the indemnity set forth in paragraph (a) above,
but only with respect to any losses, claims, damages or liabilities that arise
out of, or are based upon, any untrue statement or omission or alleged untrue
statement or omission made in reliance upon and in conformity with any
information relating to such Holder furnished to the Issuers in writing by such
Holder expressly for use in any Registration Statement, any Prospectus and any
Issuer FWP.

(c)           If any suit, action, proceeding
(including any governmental or regulatory investigation), claim or demand shall
be brought or asserted against any Person in respect of which indemnification
may be sought pursuant to either paragraph (a) or (b) above, such
Person (the “Indemnified Person”) shall promptly notify the Person
against whom such indemnification may be sought (the “Indemnifying Person”)
in writing; provided that the failure to notify the Indemnifying
Person shall not relieve it from any liability that it may have under this Section 5
except to the extent that it has been materially prejudiced (through the
forfeiture of substantive rights or defenses) by such failure; and provided,
further, that the failure to notify the Indemnifying Person shall not
relieve it from any liability that it may have to an Indemnified Person
otherwise than under this Section 5. If any such proceeding shall be
brought or asserted against an
Indemnified Person and it shall have notified the Indemnifying Person thereof,
the Indemnifying Person shall retain counsel reasonably satisfactory to
the Indemnified Person to represent the Indemnified Person and any others
entitled to indemnification pursuant to this Section 5 that the
Indemnifying Person may designate in such proceeding and shall pay the fees and
expenses of such counsel related to such proceeding, as incurred. In any such
proceeding, any Indemnified Person shall have the right to retain its own
counsel, but the fees and expenses of such counsel shall be at the expense of
such Indemnified Person unless (i) the Indemnifying Person and the
Indemnified Person shall have mutually agreed to the contrary; (ii) the
Indemnifying Person has failed within a reasonable time to retain counsel
reasonably satisfactory to the Indemnified Person; (iii) the Indemnified 

 15
 

 

 

Person shall have
reasonably concluded that there may be legal defenses available to it that are
different from or in addition to those available to the Indemnifying Person; or
(iv) the named parties in any such proceeding (including any impleaded
parties) include both the Indemnifying Person and the Indemnified Person and
representation of both parties by the same counsel would be inappropriate due
to actual or potential differing interests between them. It is understood and
agreed that the Indemnifying Person shall not, in connection with any
proceeding or related proceeding in the same jurisdiction, be liable for the
fees and expenses of more than one separate firm (in addition to any local
counsel) for all Indemnified Persons, and that all such fees and expenses shall
be reimbursed as they are incurred. Any such separate firm (x) for any
Initial Purchaser, its affiliates, directors and officers and any control
Persons of such Initial Purchaser shall be designated in writing by RBC Capital
Markets Corporation, (y) for any Holder, its directors and officers and
any control Persons of such Holder shall be designated in writing by the
Majority Holders and (z) in all other cases shall be designated in writing
by the Issuers. The Indemnifying Person shall not be liable for any settlement
of any proceeding effected without its written consent, but if settled with
such consent or if there be a final judgment for the plaintiff, the
Indemnifying Person agrees to indemnify each Indemnified Person from and
against any loss or liability by reason of such settlement or judgment. Notwithstanding
the foregoing sentence, if at any time an Indemnified Person shall have
requested that an Indemnifying Person reimburse the Indemnified Person for fees
and expenses of counsel as contemplated by this paragraph, the Indemnifying
Person shall be liable for any settlement of any proceeding effected without
its written consent if (i) such settlement is entered into more than 30
days after receipt by the Indemnifying Person of such request and (ii) the
Indemnifying Person shall not have reimbursed the Indemnified Person in
accordance with such request prior to the date of such settlement. No
Indemnifying Person shall, without the written consent of the Indemnified
Person, effect any settlement of any pending or threatened proceeding in
respect of which any Indemnified Person is or could have been a party and
indemnification could have been sought hereunder by such Indemnified Person,
unless such settlement (A) includes an unconditional release of such
Indemnified Person, in form and substance reasonably satisfactory to such
Indemnified Person, from all liability on claims that are the subject matter of
such proceeding and (B) does not include any statement as to or any
admission of fault, culpability or a failure to act by or on behalf of any
Indemnified Person.

(d)           If the indemnification provided for
in paragraphs (a) and (b) above is unavailable to an Indemnified
Person or insufficient in respect of any losses, claims, damages or liabilities
referred to therein, then each Indemnifying Person under such paragraph, in
lieu of indemnifying such Indemnified Person thereunder, shall contribute to
the amount paid or payable by such Indemnified Person as a result of such
losses, claims, damages or liabilities (i) in such proportion as is
appropriate to reflect the relative benefits received by the Issuers and the
Guarantors from the offering of the Securities and the Exchange Securities, on
the one hand, and by the Holders from receiving Securities or Exchange
Securities registered under the Securities Act, on the other hand, or (ii) if
the allocation provided by clause (i) is not permitted by applicable law,
in such proportion as is appropriate to reflect not only the relative benefits
referred to in clause (i) but also the relative fault of the Issuers and the
Guarantors on the one hand and the Holders on the 

 16
 

 

 

other in connection with
the statements or omissions that resulted in such losses, claims, damages or
liabilities, as well as any other relevant equitable considerations. The
relative fault of the Issuers and the Guarantors on the one hand and the
Holders on the other shall be determined by reference to, among other things,
whether the untrue or alleged untrue statement of a material fact or the
omission or alleged omission to state a material fact relates to information
supplied by the Issuers and the Guarantors or by the Holders, and the parties’
relative intent, knowledge, access to information and opportunity to correct or
prevent such statement or omission.

(e)           The Issuers, the Guarantors and the Holders
agree that it would not be just and equitable if contribution pursuant to this Section 5
were determined by pro  rata allocation (even if the Holders were
treated as one entity for such purpose) or by any other method of allocation
that does not take account of the equitable considerations referred to in
paragraph (d) above. The amount paid or payable by an Indemnified Person
as a result of the losses, claims, damages and liabilities referred to in
paragraph (d) above shall be deemed to include, subject to the limitations
set forth above, any legal or other expenses incurred by such Indemnified
Person in connection with any such action or claim. Notwithstanding the
provisions of this Section 5, in no event shall a Holder be required to
contribute any amount in excess of the amount by which the total price at which the Securities or Exchange Securities sold by
such Holder exceeds the amount of any damages that such Holder has
otherwise been required to pay by reason of such untrue or alleged untrue statement
or omission or alleged omission. No Person guilty of fraudulent
misrepresentation (within the meaning of Section 11(f) of the
Securities Act) shall be entitled to contribution from any Person who was not
guilty of such fraudulent misrepresentation.

(f)            The remedies provided for in this Section 5
are not exclusive and shall not limit any rights or remedies that may otherwise
be available to any Indemnified Person at law or in equity.

(g)           The indemnity and contribution
provisions contained in this Section 5 shall remain operative and in full
force and effect regardless of (i) any termination of this Agreement, (ii) any
investigation made by or on behalf of the Initial Purchasers or any Holder or
any Person controlling any Initial Purchaser or any Holder, or by or on behalf
of the Issuers or the Guarantors or the officers or directors of or any Person
controlling the Issuers or the Guarantors, (iii) acceptance of any of the
Exchange Securities and (iv) any sale of Registrable Securities pursuant
to a Shelf Registration Statement.

6.             General.

(a)           No Inconsistent Agreements.
 The Issuers and the
Guarantors represent, warrant and agree that (i) the rights granted to the
Holders hereunder do not in any way conflict with and are not inconsistent with
the rights granted to the holders of any other outstanding securities issued or
guaranteed by either of the Issuers or any Guarantor under any other agreement
and (ii) neither the Issuers nor any Guarantor has entered into, or on or
after the date of this Agreement will enter into, any agreement that is 

 17
 

 

 

inconsistent with the
rights granted to the Holders of Registrable Securities in this Agreement or
otherwise conflicts with the provisions hereof.

(b)           Amendments and Waivers.  The provisions of this Agreement, including
the provisions of this sentence, may not be amended, modified or supplemented,
and waivers or consents to departures from the provisions hereof may not be
given unless the Issuers and the Guarantors have obtained the written consent
of Holders of at least a majority in aggregate principal amount of the
outstanding Registrable Securities affected by such amendment, modification,
supplement, waiver or consent; provided that no amendment, modification,
supplement, waiver or consent to any departure from the provisions of Section 5
hereof shall be effective as against any Holder of Registrable Securities
unless consented to in writing by such Holder. Any amendments, modifications,
supplements, waivers or consents pursuant to this Section 6(b) shall
be by a writing executed by each of the parties hereto.

(c)           Notices. All
notices and other communications provided for or permitted hereunder shall be
made in writing by hand-delivery, registered first-class mail, telecopier, or
any courier guaranteeing overnight delivery (i) if to a Holder, at the
most current address given by such Holder to the Issuers by means of a notice
given in accordance with the provisions of this Section 6(c), which
address initially is, with respect to the Initial Purchasers, the address set
forth in the Purchase Agreement; (ii) if to the Issuers and the
Guarantors, initially at the Issuers’ address set forth in the Purchase
Agreement and thereafter at such other address, notice of which is given in
accordance with the provisions of this Section 6(c); and (iii) to
such other persons at their respective addresses as provided in the Purchase
Agreement and thereafter at such other address, notice of which is given in
accordance with the provisions of this Section 6(c). All such notices and
communications shall be deemed to have been duly given: at the time delivered
by hand, if personally delivered; five Business Days after being deposited in
the mail, postage prepaid, if mailed; when receipt is acknowledged, if
telecopied; and on the next Business Day if timely delivered to an air courier
guaranteeing overnight delivery. Copies of all such notices, demands or other
communications shall be concurrently delivered by the Person giving the same to
the Trustee, at the address specified in the Indenture.

(d)           Successors and Assigns. This
Agreement shall inure to the benefit of and be binding upon the successors,
assigns and transferees of each of the parties, including, without limitation
and without the need for an express assignment, subsequent Holders; provided
that nothing herein shall be deemed to permit any assignment, transfer or other
disposition of Registrable Securities in violation of the terms of the Purchase
Agreement or the Indenture. If any transferee of any Holder shall acquire
Registrable Securities in any manner, whether by operation of law or otherwise,
such Registrable Securities shall be held subject to all the terms of this
Agreement, and by taking and holding such Registrable Securities such Person
shall be conclusively deemed to have agreed to be bound by and to perform all
of the terms and provisions of this Agreement and such Person shall be entitled
to receive the benefits hereof. The Initial Purchasers (in their capacity as
Initial Purchasers) shall have no liability or obligation to the Issuers or the

 18
 

 

 

Guarantors with respect
to any failure by a Holder to comply with, or any breach by any Holder of, any
of the obligations of such Holder under this Agreement.

(e)           Third Party Beneficiaries.
Each Holder shall be a third party beneficiary to the agreements
made between the Issuers and the Guarantors, on the one hand, and the Initial
Purchasers, on the other hand, and shall have the right to enforce such
agreements directly to the extent it deems such enforcement necessary or advisable
to protect its rights or the rights of other Holders hereunder.

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

(g)           Headings. The
headings in this Agreement are for convenience of reference only, are not a
part of this Agreement and shall not limit or otherwise affect the meaning hereof.

(h)           Governing Law. This
Agreement shall be governed by and construed in accordance with the laws of the
State of New York.

(j)            Miscellaneous. This Agreement contains the entire agreement
between the parties relating to the subject matter hereof and supersedes all
oral statements and prior writings with respect thereto. If any term,
provision, covenant or restriction contained in this Agreement is held by a
court of competent jurisdiction to be invalid, void or unenforceable or against
public policy, the remainder of the terms, provisions, covenants and
restrictions contained herein shall remain in full force and effect and shall
in no way be affected, impaired or invalidated. The Issuers, the Guarantors and
the Initial Purchasers shall endeavor in good faith negotiations to replace the
invalid, void or unenforceable provisions with valid provisions the economic
effect of which comes as close as possible to that of the invalid, void
or unenforceable provisions.

 

 19

 

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

Issuers:

MARKWEST
ENERGY PARTNERS, L.P.

	
  By:

  	
  MARKWEST ENERGY GP, L.L.C.,

  its general partner

  	
   

  
	
   

  	
   

  	
   

  
	
   

  	
  By:

  	
   

  	
  /s/ James G. Ivey

  	
   

  
	
   

  	
  Name:

  	
   

  	
  James G. Ivey

  	
   

  
	
   

  	
  Title:

  	
   

  	
  Senior Vice President and Chief Financial Officer

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
  MARKWEST ENERGY FINANCE CORPORATION

  	
   

  
	
   

  	
   

  
	
  By:

  	
  /s/ James G. Ivey

  	
   

  
	
  Name:

  	
  James G. Ivey

  	
   

  
	
  Title:

  	
  Senior Vice President and Chief Financial Officer

  	
   

  

 

 20
 

 

	
  

  	
   

  	
  Guarantors:

  
	
   

  	
   

  	
   

  
	
  

  	
   

  	
  MARKWEST ENERGY OPERATING COMPANY, L.L.C.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY PARTNERS,

  
	
   

  	
   

  	
   

  	
   

  	
  L.P., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY GP, L.L.C., its

  
	
   

  	
   

  	
   

  	
   

  	
  General Partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ James G. Ivey

  
	
   

  	
   

  	
  Name:

  	
  James G. Ivey

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President and Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  BASIN PIPELINE L.L.C.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MarkWest Energy Operating Company,

  
	
   

  	
   

  	
   

  	
   

  	
  L.L.C., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY PARTNERS,

  
	
   

  	
   

  	
   

  	
   

  	
  L.P., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY GP, L.L.C., its

  
	
   

  	
   

  	
   

  	
   

  	
  General Partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ James G. Ivey

  
	
   

  	
   

  	
  Name:

  	
  James G. Ivey

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President and Chief Financial Officer

  

 

 21
 

 

	
  

  	
   

  	
  WEST SHORE PROCESSING COMPANY, L.L.C.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MarkWest Energy Operating Company,

  
	
   

  	
   

  	
   

  	
   

  	
  L.L.C., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY PARTNERS,

  
	
   

  	
   

  	
   

  	
   

  	
  L.P., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ James G. Ivey

  
	
   

  	
   

  	
  Name:

  	
  James G. Ivey

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President and Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  MARKWEST ENERGY APPALACHIA, L.L.C.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MarkWest Energy Operating Company,

  
	
   

  	
   

  	
   

  	
   

  	
  L.L.C., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY PARTNERS,

  
	
   

  	
   

  	
   

  	
   

  	
  L.P., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ James G. Ivey

  
	
   

  	
   

  	
  Name:

  	
  James G. Ivey

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President and Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

 22
 

 

	
  

  	
   

  	
  MARKWEST TEXAS GP, L.L.C.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MarkWest Energy Operating Company,

  
	
   

  	
   

  	
   

  	
   

  	
  L.L.C., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY PARTNERS,

  
	
   

  	
   

  	
   

  	
   

  	
  L.P., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ James G. Ivey

  
	
   

  	
   

  	
  Name:

  	
  James G. Ivey

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President and Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  MW TEXAS LIMITED, L.L.C.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MarkWest Energy Operating

  
	
   

  	
   

  	
   

  	
   

  	
  Company, L.L.C., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY PARTNERS,

  
	
   

  	
   

  	
   

  	
   

  	
  L.P., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ James G. Ivey

  
	
   

  	
   

  	
  Name:

  	
  James G. Ivey

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President and Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

 23
 

 

	
  

  	
   

  	
  MARKWEST MICHIGAN PIPELINE COMPANY, L.L.C.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MarkWest Energy Operating

  
	
   

  	
   

  	
   

  	
   

  	
  Company, L.L.C., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY PARTNERS,

  
	
   

  	
   

  	
   

  	
   

  	
  L.P., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ James G. Ivey

  
	
   

  	
   

  	
  Name:

  	
  James G. Ivey

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President and Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  MARKWEST WESTERN OKLAHOMA GAS

  
	
   

  	
   

  	
  COMPANY, L.L.C.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MarkWest Energy Operating

  
	
   

  	
   

  	
   

  	
   

  	
  Company, L.L.C., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY PARTNERS,

  
	
   

  	
   

  	
   

  	
   

  	
  L.P., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ James G. Ivey

  
	
   

  	
   

  	
  Name:

  	
  James G. Ivey

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President and Chief Financial Officer

  

 

 24
 

 

	
  

  	
   

  	
  MARKWEST NEW MEXICO, L.P.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST TEXAS GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MarkWest Energy Operating

  
	
   

  	
   

  	
   

  	
   

  	
  Company, L.L.C., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY PARTNERS,

  
	
   

  	
   

  	
   

  	
   

  	
  L.P., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ James G. Ivey

  
	
   

  	
   

  	
  Name:

  	
  James G. Ivey

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President and Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  MARKWEST PINNACLE L.P.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST TEXAS GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MarkWest Energy Operating

  
	
   

  	
   

  	
   

  	
   

  	
  Company, L.L.C., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY PARTNERS,

  
	
   

  	
   

  	
   

  	
   

  	
  L.P., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ James G. Ivey

  
	
   

  	
   

  	
  Name:

  	
  James G. Ivey

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President and Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

 25
 

 

	
  

  	
   

  	
  MARKWEST PNG UTILITY, L.P.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST TEXAS GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MarkWest Energy Operating

  
	
   

  	
   

  	
   

  	
   

  	
  Company, L.L.C., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY PARTNERS,

  
	
   

  	
   

  	
   

  	
   

  	
  L.P., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ James G. Ivey

  
	
   

  	
   

  	
  Name:

  	
  James G. Ivey

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President and Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  MARKWEST TEXAS PNG UTILITY, L.P.

  
	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST TEXAS GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MarkWest Energy Operating

  
	
   

  	
   

  	
   

  	
   

  	
  Company, L.L.C., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY PARTNERS,

  
	
   

  	
   

  	
   

  	
   

  	
  L.P., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ James G. Ivey

  
	
   

  	
   

  	
  Name:

  	
  James G. Ivey

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President and Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

 26
 

 

	
  

  	
   

  	
  MARKWEST BLACKHAWK, L.P.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST TEXAS GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MarkWest Energy Operating

  
	
   

  	
   

  	
   

  	
   

  	
  Company, L.L.C., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY PARTNERS,

  
	
   

  	
   

  	
   

  	
   

  	
  L.P., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ James G. Ivey

  
	
   

  	
   

  	
  Name:

  	
  James G. Ivey

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President and Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  MARKWEST POWER TEX L.P.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST TEXAS GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MarkWest Energy Operating

  
	
   

  	
   

  	
   

  	
   

  	
  Company, L.L.C., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY PARTNERS,

  
	
   

  	
   

  	
   

  	
   

  	
  L.P., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ James G. Ivey

  
	
   

  	
   

  	
  Name:

  	
  James G. Ivey

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President and Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

 27
 

 

	
  

  	
   

  	
  MARKWEST ENERGY EAST TEXAS GAS COMPANY, L.P.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST TEXAS GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MarkWest Energy Operating

  
	
   

  	
   

  	
   

  	
   

  	
  Company, L.L.C., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY PARTNERS,

  
	
   

  	
   

  	
   

  	
   

  	
  L.P., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ James G. Ivey

  
	
   

  	
   

  	
  Name:

  	
  James G. Ivey

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President and Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  MARKWEST PIPELINE COMPANY, L.P.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST TEXAS GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MarkWest Energy Operating

  
	
   

  	
   

  	
   

  	
   

  	
  Company, L.L.C., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY PARTNERS,

  
	
   

  	
   

  	
   

  	
   

  	
  L.P., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ James G. Ivey

  
	
   

  	
   

  	
  Name:

  	
  James G. Ivey

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President and Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

 28
 

 

	
  

  	
   

  	
  MARKWEST JAVELINA HOLDING COMPANY, L.P.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST TEXAS GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MarkWest Energy Operating

  
	
   

  	
   

  	
   

  	
   

  	
  Company, L.L.C., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY PARTNERS,

  
	
   

  	
   

  	
   

  	
   

  	
  L.P., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ James G. Ivey

  
	
   

  	
   

  	
  Name:

  	
  James G. Ivey

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President and Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  MARKWEST JAVELINA PIPELINE HOLDING, L.P.

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST TEXAS GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MarkWest Energy Operating

  
	
   

  	
   

  	
   

  	
   

  	
  Company, L.L.C., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY PARTNERS,

  
	
   

  	
   

  	
   

  	
   

  	
  L.P., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ James G. Ivey

  
	
   

  	
   

  	
  Name:

  	
  James G. Ivey

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President and Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

 29
 

 

	
  

  	
   

  	
  MARKWEST JAVELINA COMPANY

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST JAVELINA HOLDING

  
	
   

  	
   

  	
   

  	
   

  	
  COMPANY, L.P. and MARKWEST

  JAVELINA PIPELINE COMPANY,

  its owners

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST TEXAS GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  their general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MarkWest Energy Operating

  
	
   

  	
   

  	
   

  	
   

  	
  Company, L.L.C., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY PARTNERS,

  
	
   

  	
   

  	
   

  	
   

  	
  L.P., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ James G. Ivey

  
	
   

  	
   

  	
  Name:

  	
  James G. Ivey

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President and Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

 30
 

 

	
  

  	
   

  	
  MARKWEST JAVELINA PIPELINE COMPANY

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST JAVELINA HOLDING

  
	
   

  	
   

  	
   

  	
   

  	
  COMPANY, L.P. and MARKWEST JAVELINA PIPELINE
  COMPANY, its owners

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST TEXAS GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  their general partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MarkWest Energy Operating

  
	
   

  	
   

  	
   

  	
   

  	
  Company, L.L.C., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY PARTNERS,

  
	
   

  	
   

  	
   

  	
   

  	
  L.P., its Managing Member

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
   

  	
  By:

  	
  MARKWEST ENERGY GP, L.L.C.,

  
	
   

  	
   

  	
   

  	
   

  	
  its General Partner

  
	
   

  	
   

  	
   

  	
   

  	
   

  
	
   

  	
   

  	
  By:

  	
  /s/ James G. Ivey

  
	
   

  	
   

  	
  Name:

  	
  James G. Ivey

  
	
   

  	
   

  	
  Title:

  	
  Senior Vice President and Chief Financial Officer

  
	
   

  	
   

  	
   

  	
   

  	
   

  

 

 31
 

 

Confirmed and accepted as
of the date first above written:

RBC CAPITAL MARKETS
CORPORATION

For itself and on behalf
of the

several Initial Purchasers listed

in Schedule 1 hereto.

	
  By

  	
   

  	
  /s/ NANCYE PATTERSON

  	
   

  
	
   

  	
   

  	
  Name: Nancye Patterson

  	
   

  
	
   

  	
   

  	
  Title: Vice President

  	
   

  

 

 32

 

 

Schedule 1

Guarantors

MarkWest Energy Operating
Company, L.L.C.

Basin Pipeline L.L.C.

West Shore Processing
Company, L.L.C.

MarkWest Energy
Appalachia, L.L.C.

MarkWest Texas GP, L.L.C.

MW Texas Limited, L.L.C.

MarkWest Michigan
Pipeline Company, L.L.C.

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

MarkWest Power Tex L.P.

MarkWest Pinnacle L.P.

MarkWest PNG Utility,
L.P.

MarkWest Texas PNG
Utility, L.P.

MarkWest Blackhawk, L.P.

MarkWest New Mexico, L.P.

MarkWest Energy East
Texas Gas Company, L.P.

MarkWest Pipeline
Company, L.P.

MarkWest Javelina Company

MarkWest Javelina Holding
Company, L.P.

MarkWest Javelina
Pipeline Company

MarkWest Javelina
Pipeline Holding, L.P.

 33

Source: [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00106-of-00352.parquet"}, [{"source": "alea-institute/alea-institute/kl3m-data-edgar-agreements/train-00106-of-00352.parquet"}]]