Document:

EX-10.2

 Exhibit 10.2 

EXECUTION VERSION 

FIRST AMENDMENT TO SENIOR SECURED TERM LOAN AGREEMENT 

This First Amendment to Senior Secured Term Loan Agreement (this “Amendment”) is entered into effective as of the 21st
day of December, 2016 (the “First Amendment Effective Date”), by and among Sunoco LP, a Delaware limited partnership (“Borrower”), Credit Suisse AG, Cayman Islands Branch, as Administrative Agent (in
such capacity, the “Administrative Agent”), and the financial institutions parties hereto as Lenders (“Lenders”). 

W I T N E S S E T H 

WHEREAS, Borrower, Administrative Agent and the Lenders are parties to that certain Senior Secured Term Loan Agreement, dated as of
March 31, 2016 (as amended, restated, supplemented or modified prior to the date hereof, the “Existing Credit Agreement” and the Existing Credit Agreement, as amended by this Amendment, the “Credit
Agreement”) (unless otherwise defined herein, all terms used herein with their initial letter capitalized shall have the meaning given such terms in the Credit Agreement); 

WHEREAS, the Borrower has requested that the Lenders agree to amend certain provisions of the Existing Credit Agreement as set forth below;
and 
 WHEREAS, subject to and upon the terms and conditions set forth herein, the Lenders have agreed to enter into this Amendment; 

NOW THEREFORE, for and in consideration of the mutual covenants and agreements herein contained and other good and valuable consideration, the
receipt and sufficiency of which are hereby acknowledged and confessed, Borrower, Administrative Agent, and the Lenders hereby agree as follows: 

Section 1. Amendments. In reliance on the representations, warranties, covenants and agreements contained in this Amendment, and subject to
the satisfaction of the conditions precedent set forth in Section 2 hereof, the Existing Credit Agreement shall be amended effective as of the First Amendment Effective Date in the manner provided in this Section 1. 

1.1 Amendment of Section 1.01. Section 1.01 of the Existing Credit Agreement is hereby amended as follows: 

(a) By amending and restating the pricing grid in clause (a) of the definition of “Applicable Rate” to read in full as
follows: 
  

											
	 Level
	  	 Leverage Ratio
	  	 ABR Margin
	 	 	 Eurodollar

Margin
	 
	 1
	  	£ 3.00	  	 	0.500	% 	 	 	1.500	% 
	 2
	  	> 3.00 to 1.00 and £ 3.50 to 1.00	  	 	0.750	% 	 	 	1.750	% 
	 3
	  	> 3.50 to 1.00 and £ 4.00 to 1.00	  	 	1.000	% 	 	 	2.000	% 
	 4
	  	> 4.00 to 1.00 and £ 4.50 to 1.00	  	 	1.250	% 	 	 	2.250	% 
	 5
	  	> 4.50 to 1.00 and £ 5.50 to 1.00	  	 	1.500	% 	 	 	2.500	% 
	 6
	  	> 5.50 to 1.00 and £ 6.00 to 1.00	  	 	1.750	% 	 	 	2.750	% 
	 7
	  	> 6.00 to 1.00	  	 	2.000	% 	 	 	3.000	% 

  
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 (b) By adding the definition of “Interest Coverage Ratio”
in alphabetically appropriate order, which shall read in full as follows: 
 “Interest Coverage Ratio”
means, as of any date, the ratio of (a) Consolidated EBITDA for the period of four consecutive fiscal quarters ending on such date to (b) Consolidated Interest Expense for the period of four consecutive fiscal quarters ending on such date.

 (c) By amending and restating the definition of “Net Cash Proceeds” in full as follows: 

“Net Cash Proceeds” means, (a) with respect to the incurrence or issuance of any Indebtedness, an amount
equal to (i) payments of Cash or Cash Equivalents received by the Borrower or any of its Subsidiaries from such incurrence or issuance minus (ii) all reasonable and customary out-of-pocket legal, underwriting and other fees and expenses
incurred in connection with such incurrence or issuance; and (b) with respect to the issuance of any Equity Interests of the Borrower, an amount equal to (i) payments of Cash or Cash Equivalents received by the Borrower from such issuance
minus (ii) all reasonable and customary out-of-pocket legal, underwriting and other fees and expenses incurred in connection with such issuance. 

(d) By deleting the definition of “Post Dropdown Period” in its entirety. 

(e) By adding the definition of “Senior Secured Leverage Ratio” in alphabetically appropriate order,
which shall read in full as follows: 
 “Senior Secured Leverage Ratio” means, as of any date, the ratio of
(a) Consolidated Funded Indebtedness that is secured by a Lien on any property of the Borrower or any of its Subsidiaries on such date to (b) Consolidated EBITDA for the period of four consecutive fiscal quarters ending on such date. 

(f) By amending the definition of “Specified Acquisition Period” by replacing the reference to
“Section 7.12” therein with a reference to “Section 7.12(a)(ii).” 
  

	 	1.2	Amendment to Section 2.05(b). Section 2.05(b) of the Existing Credit Agreement is hereby amended and restated to read in its entirety as follows: 

 

	 	(b)	Mandatory Prepayments. 

  
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	 	(i)	In the event that the Borrower shall receive Net Cash Proceeds from the issuance of Equity Interests of the Borrower at any time prior to the Borrower’s delivery of a Compliance Certificate demonstrating that the
Leverage Ratio is less than 5.50 to 1.00, the Borrower shall substantially simultaneously with the receipt of such Net Cash Proceeds (and in any event not later than the third Business Day after receipt thereof) by the Borrower, apply an amount
equal to 100% of such Net Cash Proceeds to prepay either (A) the Loans or (B) the Revolving Obligations. 

 The
Borrower shall deliver to the Administrative Agent (i) concurrently with any notice of prepayment of the Loans or Revolving Obligations pursuant to this Section 2.05(b)(i), a certificate of a Responsible Officer demonstrating the
calculation of the amount of the applicable Net Cash Proceeds, and (ii) at least three Business Days prior written notice of such prepayment. Each notice of prepayment of the Loans or Revolving Obligations shall specify the prepayment date, the
Type of each Loan or Revolving Obligations being prepaid and the principal amount of each Loan (or portion thereof) or Revolving Obligation to be prepaid. 
  

	 	(ii)	 In the event that the Borrower or any of its Subsidiaries shall receive Net Cash Proceeds from the issuance or
incurrence by any Loan Party or any Subsidiary of a Loan Party of Indebtedness for borrowed money permitted under Section 7.01(a)(xi), Section 7.01(a)(xiv), Section 7.01(b)(xi) or Section 7.01(b)(xii)
(other than (i) any intercompany Indebtedness of the Borrower or any of its wholly-owned subsidiaries, (ii) any Indebtedness of the Borrower or any of its subsidiaries incurred in the ordinary course under any Indebtedness existing on the
Closing Date (including for the avoidance of doubt, the Revolving Credit Agreement) and (iii) any Indebtedness of any Person acquired in whole or in part by the Borrower (including increases in ownership percentage) after the Closing Date
incurred prior to the acquisition thereof by such Person that is not created in connection with such acquisition), the Borrower shall substantially 

  
 3 

	 	
simultaneously with the receipt of such Net Cash Proceeds (and in any event not later than the third Business Day after receipt thereof) by such Borrower or such Subsidiary, apply an amount equal
to 100% of such Net Cash Proceeds to prepay outstanding Loans. 

 The Borrower shall deliver to the Administrative Agent
(i) concurrently with any notice of prepayment of the Loans pursuant to this Section 2.05(b)(ii), a certificate of a Responsible Officer demonstrating the calculation of the amount of the applicable Net Cash Proceeds, and (ii) at
least three Business Days prior written notice of such prepayment. Each notice of prepayment shall specify the prepayment date, the Type of each Loan being prepaid and the principal amount of each Loan (or portion thereof) to be prepaid. 

All prepayments of Borrowings under this Section 2.05(b) shall be subject to Section 3.05, but shall otherwise be without premium or
penalty, and shall be accompanied by accrued and unpaid interest on the principal amount to be prepaid to but excluding the date of payment. In the event that the Borrower shall subsequently determine that the actual amount received exceeded the
amount set forth in such certificate, the Borrower shall promptly make an additional prepayment of the Loans in an amount equal to such excess, and the Borrower shall concurrently therewith deliver to the Administrative Agent a certificate of a
Responsible Officer demonstrating the derivation of such excess amount. 
 1.3 Amendment to Section 6.01(b).
Section 6.01(b) of the Existing Credit Agreement is hereby amended by replacing the words “with the requirements of Section 7.12” therein with the words “with the then applicable requirements of
Section 7.12.” 
 1.4 Amendment to Section 6.09(a). Section 6.09(a) of the Existing Credit
Agreement is hereby amended by replacing the words “in compliance with Section 7.12” therein with the words “in compliance with the then applicable requirements of Section 7.12.” 

1.5 Amendment to Section 7.01(a)(xi). Section 7.01(a)(xi) of the Existing Credit Agreement is hereby amended by
replacing the words “compliance with Section 7.12” therein with the words “compliance with the then applicable requirements of Section 7.12.” 

  
 4 

 1.6 Amendment to Section 7.01(b)(xi). Section 7.01(b)(xi) of the Existing
Credit Agreement is hereby amended by replacing the words “compliance with Section 7.12” therein with the words “compliance with the then applicable requirements of Section 7.12.” 

1.7 Amendment to Section 7.05. Section 7.05 of the Existing Credit Agreement is hereby amended by replacing the words
“in compliance with Section 7.12” therein with the words “in compliance with the then applicable requirements of Section 7.12.” 

1.8 Amendment to Section 7.10(k). Section 7.10(k) of the Existing Credit Agreement is hereby amended by replacing the
words “in compliance with Section 7.12” therein with the words “in compliance with the then applicable requirements of Section 7.12.” 

1.9 Amendment to Section 7.11. Section 7.11 of the Existing Credit Agreement is hereby amended by replacing the words
“in compliance with Section 7.12” therein with the words “in compliance with the then applicable requirements of Section 7.12.” 

1.10 Amendment of Section 7.12. Section 7.12 of the Existing Credit Agreement is hereby amended and restated to
read in its entirety as follows: 
 7.12 Financial Covenants:. 

(a) Leverage Ratio. As of each Quarterly Testing Date commencing with December 31, 2016, the Leverage Ratio will not exceed
(i) with respect to each Quarterly Testing Date occurring during the period from (and including) December 31, 2016 to (and including) December 31, 2018, the applicable ratio set forth below: 

 

					
	 Quarterly Testing Date
	  	Maximum
Leverage
Ratio	 
	 December 31, 2016 through December 31, 2017
	  	 	6.75 to 1.00	  
	 March 31, 2018
	  	 	6.50 to 1.00	  
	 June 30, 2018
	  	 	6.25 to 1.00	  
	 September 30, 2018
	  	 	6.00 to 1.00	  
	 December 31, 2018
	  	 	5.75 to 1.00	  

 and (ii) with respect to any other Quarterly Testing Date (A) at any time other than during a
Specified Acquisition Period, 5.50 to 1.00 or (B) during a Specified Acquisition Period, 6.00 to 1.00. 
 (b) Interest Coverage
Ratio. As of each Quarterly Testing Date commencing with December 31, 2016 and continuing to (and including) December 31, 2018, the Interest Coverage Ratio shall not be less than 2.25 to 1.00. 

(c) Senior Secured Leverage Ratio. As of each Quarterly Testing Date commencing with December 31, 2016, the Senior Secured

  
 5 

 
Leverage Ratio will not exceed (i) with respect to each Quarterly Testing Date occurring during the period from (and including) December 31, 2016 to (and including) December 31,
2017, 3.75 to 1.00 and (ii) for each Quarterly Testing Date thereafter, 3.50 to 1.00. 
  

	 	1.11	Amendment to Exhibit B. Exhibit B to the Credit Agreement is hereby amended and restated in its entirety in the form of Exhibit B attached hereto. 

Section 2. Conditions Precedent. The effectiveness of the amendments to the Existing Credit Agreement contained in Section 1
hereof is subject to the satisfaction of each of the following conditions precedent: 
 2.1 Counterparts.
Administrative Agent shall have received counterparts of this Amendment duly executed by Borrower, the Guarantors and the Majority Lenders. 

2.2 Fees and Expenses. Borrower shall have paid to Administrative Agent all fees due and owing to Administrative Agent
pursuant to or in connection with this Amendment (including the reasonable and documented fees, charges and disbursements of a single counsel for the Administrative Agent) in the preparation, execution, review and negotiation of this Amendment and
the other Loan Documents in accordance with Section 10.04(a) of the Existing Credit Agreement. 
 2.3 Consent Fee.
Administrative Agent shall have received, for the benefit of the Lenders party to this Amendment (each such Lender party to this Amendment, herein a “Consenting Lender” and including, without limitation, Credit Suisse AG, Cayman
Islands Branch), a consent fee (the “Amendment Consent Fee”) in an aggregate amount for each such Consenting Lender equal to 25 basis points (0.25%) of the amount of such Consenting Lender’s aggregate principal amount of the
Loans outstanding on the First Amendment Effective Date. Administrative Agent shall pay to each Consenting Lender the applicable Amendment Consent Fee promptly after receipt thereof by Administrative Agent. 

2.4 Revolving Credit Agreement Amendment. Administrative Agent shall have received a duly executed copy of an amendment to the
Revolving Credit Agreement in form and substance reasonably satisfactory to the Administrative Agent; provided that an amendment in form and substance substantially similar to this Amendment shall be deemed reasonably satisfactory to the
Administrative Agent. 
 2.5 No Default. No Default or Event of Default shall have occurred which is continuing. 

Section 3. Representations and Warranties of Borrower. To induce the Lenders and Administrative Agent to enter into this Amendment,
Borrower hereby represents and warrants to the Lenders and Administrative Agent as follows: 
 3.1 Reaffirmation of Existing
Representations and Warranties. Each representation and warranty of Borrower contained in the Credit Agreement and the other Loan Documents is true and correct in all material respects (except to the extent that such representations
and warranties are qualified by materiality, in which case such 

  
 6 

 
representations and warranties are true and correct in all respects) on the date hereof after giving effect to the amendments set forth in Section 1 hereof, except to the extent that
such representations and warranties specifically refer to an earlier date, in which case they were true and correct in all material respects (except to the extent that such representations and warranties are qualified by materiality, in which case
such representations and warranties were true and correct in all respects) as of such earlier date. 
 3.2 No Default or Event of
Default. No Default or Event of Default has occurred which is continuing. 
 3.3 Acknowledgment of No
Defenses. As of the First Amendment Effective Date, to the knowledge of Borrower, Borrower has no defense to (a) Borrower’s obligation to pay the Obligations when due, or (b) the validity, enforceability or binding
effect against Borrower or any Loan Party of the Credit Agreement or any of the other Loan Documents (to the extent a party thereto) or any Liens intended to be created thereby. 

Section 4. Miscellaneous. 

4.1 Reaffirmation of Loan Documents. Any and all of the terms and provisions of the Credit Agreement and the Loan
Documents shall, except as amended and modified hereby, remain in full force and effect. The amendments contemplated hereby shall not limit or impair any Liens securing the Obligations, each of which are hereby ratified and affirmed. The execution,
delivery and effectiveness of this Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of any Lender or the Administrative Agent under any of the Loan Documents, nor, except as expressly
provided herein, constitute a waiver or amendment of any provision of any of the Loan Documents. 
 4.2 Parties in
Interest. All of the terms and provisions of this Amendment shall bind and inure to the benefit of the parties hereto and their respective successors and permitted assigns. 

4.3 Counterparts. This Amendment may be executed in counterparts, including, without limitation, by electronic signature,
and all parties need not execute the same counterpart. Facsimiles or other electronic transmissions (e.g. .pdfs) of such executed counterparts shall be effective as originals. 

4.4 Complete Agreement. THIS AMENDMENT, THE CREDIT AGREEMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT
BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS OR ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN ORAL AGREEMENTS BETWEEN OR AMONG THE PARTIES. 

4.5 Headings. The headings, captions and arrangements used in this Amendment are, unless specified otherwise, for
convenience only and shall not be deemed to limit, amplify or modify the terms of this Amendment, nor affect the meaning thereof. 

  
 7 

 4.6 Effectiveness. This Amendment shall be effective automatically and
without necessity of any further action by Borrower, Administrative Agent or the Lenders when counterparts hereof have been executed by Borrower, Guarantors and the Majority Lenders, and all conditions to the effectiveness hereof set forth herein
have been satisfied. 
 4.7 Governing Law. THIS AMENDMENT SHALL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE
LAWS OF THE STATE OF NEW YORK. 
 4.8 Amendment. On and after the First Amendment Effective Date, each reference in the
Credit Agreement to “this Agreement,” “hereunder,” “hereof” or words of like import referring to the Credit Agreement shall mean and be a reference to the Credit Agreement, as amended by this Amendment. This Amendment
constitutes a Loan Document. 
 [Signature Pages to Follow] 

  
 8 

 IN WITNESS WHEREOF, the parties hereto have caused this Amendment to be duly executed by their
respective authorized officers on the date and year first above written. 
  

			
	SUNOCO LP
		
	By:	 	SUNOCO GP LLC, its General Partner
		
	By:	 	/s/ Thomas R. Miller
	Name: 	 	Thomas R. Miller
	Title:	 	Chief Financial Officer

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	CREDIT SUISSE AG, CAYMAN ISLANDS BRANCH,
	as Administrative Agent and a Lender
		
	By:	 	/s/ Nupur Kumar
	Name: 	 	Nupur Kumar
	Title:	 	Authorized Signatory
		
	By:	 	/s/ Warren Van Heyst
	Name:	 	Warren Van Heyst
	Title:	 	Authorized Signatory

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	BANK OF AMERICA, N.A.,
	as a Lender
		
	By:	 	/s/ Adam H. Fey
	Name: 	 	Adam H. Fey
	Title:	 	Director

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	COMPASS BANK,
	as a Lender
		
	By:	 	/s/ Blake Kirschman
	Name: 	 	Blake Kirschman
	Title:	 	Senior Vice President

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK,
	as a Lender
		
	By:	 	/s/ Dixon Schultz
	Name: 	 	Dixon Schultz
	Title:	 	Managing Director
		
	By:	 	/s/ Michael D. Willis
	Name:	 	Michael D. Willis
	Title:	 	Managing Director

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	DEUTSCHE BANK TRUST COMPANY AMERICAS,
	as a Lender
		
	By:	 	/s/ Chris Chapman
	Name: 	 	Chris Chapman
	Title:	 	Director
		
	By:	 	/s/ Shai Bandner
	Name:	 	Shai Bandner
	Title:	 	Vice President

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	DNB CAPITAL LLC,
	as a Lender
		
	By:	 	/s/ Byron Cooley
	Name: 	 	Byron Cooley
	Title:	 	Senior Vice President
		
	By:	 	/s/ Jodie Gildersleeve
	Name:	 	Jodie Gildersleeve
	Title:	 	Vice President

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	GOLDMAN SACHS BANK USA,
	as a Lender
		
	By:	 	/s/ Ushma Dedhiya
	Name: 	 	Ushma Dedhiya
	Title:	 	Authorized Signatory

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	JPMORGAN CHASE BANK, N.A.,
	as a Lender
		
	By:	 	/s/ Stephanie Balette
	Name: 	 	Stephanie Balette
	Title:	 	Authorized Signer

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	MIZUHO BANK, LTD.
	as a Lender
		
	By:	 	/s/ Donna DeMagistris
	Name: 	 	Donna DeMagistris
	Title:	 	Authorized Signatory

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	MORGAN STANLEY BANK, N.A.
	as a Lender
		
	By:	 	/s/ Patrick Layton
	Name: 	 	Patrick Layton
	Title:	 	Authorized Signatory

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	MORGAN STANLEY SENIOR FUNDING, INC.,
	as a Lender
		
	By:	 	/s/ Patrick Layton
	Name: 	 	Patrick Layton
	Title:	 	Vice President

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	NATIXIS, NEW YORK BRANCH,
	as a Lender
		
	By:	 	/s/ Jarrett Price
	Name:	 	Jarrett Price
	Title:	 	Director
		
	By:	 	/s/ Brice Le Foyer
	Name:	 	Brice Le Foyer
	Title:	 	Director

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	PNC BANK, NATIONAL ASSOCIATION,
	as a Lender
		
	By:	 	/s/ Kyle T. Helfrich
	Name:	 	Kyle T. Helfrich
	Title:	 	Assistant Vice President

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	ROYAL BANK OF CANADA,
	as a Lender
		
	By:	 	/s/ Mark Lumpkin, Jr.
	Name:	 	Mark Lumpkin, Jr.
	Title:	 	Authorized Signatory

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	TD BANK, N.A.,
	as a Lender
		
	By:	 	/s/ Craig Welch
	Name:	 	Craig Welch
	Title:	 	Senior Vice President

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	WELLS FARGO BANK, N.A.,
	as a Lender
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	FIFTH THIRD BANK,
	as a Lender
		
	By:	 	/s/ Brian Anderson
	Name:	 	Brian Anderson
	Title:	 	Vice President

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	INDUSTRIAL COMMERCIAL BANK OF CHINA LTD., NEW YORK BRANCH,
	as a Lender
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	CITIZENS BANK, N.A.,
	as a Lender
		
	By:	 	/s/ Donald A. Wright
	Name:	 	Donald A. Wright
	Title:	 	SVP

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	U.S. BANK NATIONAL ASSOCIATION,
	as a Lender
		
	By:	 	/s/ Patrick Jeffrey
	Name:	 	Patrick Jeffrey
	Title:	 	Vice President

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	SUMITOMO MITSUI BANKING CORPORATION,
	as a Lender
		
	By:	 	/s/ David W. Kee
	Name:	 	David W. Kee
	Title:	 	Managing Director

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	THE HUNTINGTON NATIONAL BANK,
	as a Lender
		
	By:	 	/s/ Jason A. Zilewicz
	Name:	 	Jason A. Zilewicz
	Title:	 	Vice President

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	BANK OF HAWAII,
	as a Lender
		
	By:	 	/s/ John McKenna
	Name:	 	John McKenna
	Title:	 	Senior Vice President

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	HUA NAN COMMERCIAL BANK LTD – LOS ANGELES BRANCH,
	as a Lender
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	TAIWAN COOPERATIVE BANK LTD., ACTING THROUGH ITS NEW YORK BRANCH,
	as a Lender
		
	By:	 	/s/ Li Hua Huang
	Name:	 	Li Hua Huang
	Title:	 	SVP & General Manager

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	MEGA INTERNATIONAL COMMERCIAL BANK LTD, SILICON VALLEY BRANCH,
	as a Lender
		
	By:	 	  

	Name:	 	  

	Title:	 	  

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	WASATCH CLO LTD,
	as a Lender
	
	By: Invesco Senior Secured Management, Inc. as Portfolio Manager
		
	By:	 	/s/ Kevin Egan
	Name:	 	Kevin Egan
	Title:	 	Authorized Individual

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	RECETTE CLO, LTD.,
	as a Lender
	
	By: Invesco Senior Secured Management, Inc. as Portfolio Manager
		
	By:	 	/s/ Kevin Egan
	Name:	 	Kevin Egan
	Title:	 	Authorized Individual

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	UPPER TIER CORPORATE LOAN FUND 1,
	as a Lender
	
	By: Invesco Senior Secured Management, Inc. as Portfolio Manager
		
	By:	 	/s/ Kevin Egan
	Name:	 	Kevin Egan
	Title:	 	Authorized Individual

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	MAREA CLO, LTD.,
	as a Lender
	
	By: Invesco Senior Secured Management, Inc. as Portfolio Manager
		
	By:	 	/s/ Kevin Egan
	Name:	 	Kevin Egan
	Title:	 	Authorized Individual

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	UPLAND CLO, LTD.,
	as a Lender
	
	By: Invesco Senior Secured Management, Inc. as Portfolio Manager
		
	By:	 	/s/ Kevin Egan
	Name: 	 	Kevin Egan
	Title:	 	Authorized Individual

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	ANNISA CLO, LTD.,
	as a Lender
	
	By: Invesco RR Fund L.P. as Collateral Manager
	
	By: Invesco RR Associates LLC, as general partner
	
	By: Invesco Senior Secured Management, Inc. as Portfolio Manager
		
	By:	 	/s/ Kevin Egan
	Name: 	 	Kevin Egan
	Title:	 	Authorized Individual

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	NOMAD CLO, LTD.,
	as a Lender
	
	By: Invesco Senior Secured Management, Inc. as Portfolio Manager
		
	By:	 	/s/ Kevin Egan
	Name: 	 	Kevin Egan
	Title:	 	Authorized Individual

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	INVESCO SSL FUND LLC,
	as a Lender
	
	By: Invesco Senior Secured Management, Inc. as Portfolio Manager
		
	By:	 	/s/ Kevin Egan
	Name: 	 	Kevin Egan
	Title:	 	Authorized Individual

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	NAUTIQUE FUNDING LTD,
	as a Lender
	
	By: Invesco Senior Secured Management, Inc. as Portfolio Manager
		
	By:	 	/s/ Kevin Egan
	Name: 	 	Kevin Egan
	Title:	 	Authorized Individual

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 Each of the undersigned Guarantors (i) consents and agrees to this Amendment, and
(ii) agrees that the Loan Documents to which it is a party (including, without limitation, the Guaranty Agreement, dated as of March 31, 2016, each as amended, modified or supplemented) shall remain in full force and effect and shall
continue to be the legal, valid and binding obligation of the undersigned, enforceable against it in accordance with its terms. 
  

					
		 	CONSENTED, ACKNOWLEDGED AND AGREED TO BY:
		
		 	SUSSER PETROLEUM OPERATING COMPANY LLC
		 	SUSSER PETROLEUM PROPERTY COMPANY LLC
		 	SUSSER HOLDINGS CORPORATION
		 	SUNOCO FINANCE CORP.
			
		 	By:	 	/s/ Thomas R. Miller
		 	Name:	 	Thomas R. Miller
		 	Title:	 	Chief Financial Officer
		
		 	STRIPES HOLDINGS LLC
		 	SUSSER HOLDINGS, L.L.C.
		 	STRIPES LLC
			
		 	By:	 	/s/ Thomas R. Miller
		 	Name:	 	Thomas R. Miller
		 	Title:	 	Chief Financial Officer
		
		 	MID-ATLANTIC CONVENIENCE STORES, LLC
		 	SOUTHSIDE OIL, LLC
		 	MACS RETAIL LLC
			
		 	By:	 	/s/ Thomas R. Miller
		 	Name: 	 	Thomas R. Miller
		 	Title:	 	Chief Financial Officer

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LP 

 
			
	ALOHA PETROLEUM LLC
		
	By:	 	/s/ Thomas R. Miller
	Name:	 	Thomas R. Miller
	Title:	 	Chief Financial Officer
	
	ALOHA PETROLEUM, LTD.
		
	By:	 	/s/ Thomas R. Miller
	Name:	 	Thomas R. Miller
	Title:	 	Chief Financial Officer
	
	SUNOCO RETAIL, LLC
		
	By:	 	/s/ Thomas R. Miller
	Name:	 	Thomas R. Miller
	Title:	 	Chief Financial Officer
	
	SUNOCO, LLC
		
	By:	 	/s/ Thomas R. Miller
	Name:	 	Thomas R. Miller
	Title:	 	Chief Financial Officer
	
	ALLIED ENERGY COMPANY LLC
	DIRECT FUELS LLC
	ALLIED RENEWABLE ENERGY, LLC
	EMERGE ENERGY DISTRIBUTORS INC.
	SUNMARKS, LLC
	SUSSER PETROLEUM COMPANY LLC
	STRIPES NO. 1009 LLC
		
	By:	 	/s/ Thomas R. Miller
	Name: 	 	Thomas R. Miller
	Title:	 	Chief Financial Officer

  

SIGNATURE PAGE TO FIRST AMENDMENT TO
SENIOR SECURED TERM LOAN AGREEMENT 
 SUNOCO LPExhibit

EXHIBIT 10.1

AMENDMENT NO. 4 TO SELECTED DEALER AGREEMENT

This Amendment No. 4 (this “Amendment”), dated as of the 19th day of December, 2016 and effective as of January 1, 2017 (the “Effective Date”), is made by and among each of Griffin Capital Essential Asset REIT II, Inc., a Maryland corporation (the “Company”), Griffin Capital Securities, LLC, a Delaware limited liability company (the “Dealer Manager”), Griffin Capital Essential Asset Advisor II, LLC, a Delaware limited liability company (the “Advisor”), Griffin Capital Corporation, a California corporation (the “Sponsor,” and collectively with the Company, the Dealer Manager and the Advisor, the “Issuer Entities”), and Ameriprise Financial Services, Inc. (“Ameriprise”).  Capitalized terms used but not defined herein shall have the meanings ascribed to them under the Selected Dealer Agreement (as defined below).

WHEREAS, the Issuer Entities and Ameriprise have entered into a Selected Dealer Agreement dated May 5, 2015, as amended by the Amended and Restated Amendment to Selected Dealer Agreement dated December 22, 2015, Amendment No. 2 to Selected Dealer Agreement dated April 11, 2015 and Amendment No. 3 to Selected Dealer Agreement, dated May 31, 2016 (the “Selected Dealer Agreement”) that sets forth the understandings and agreements whereby Ameriprise will offer and sell, on a best efforts basis, for the account of the Company, shares (“Shares”) of common stock (the “Common Stock”) of the Company registered pursuant to the Registration Statement and Prospectus filed with the Securities and Exchange Commission, as the same may be amended or supplemented from time to time (the “Offering Documents”); and

WHEREAS, prior to the Effective Date, (i) pursuant to Section 3(d) of the Selected Dealer Agreement (a) the Dealer Manager re-allows to Ameriprise a marketing fee (the “Marketing Fee”) and (b) the Advisor pays or causes to be paid to Ameriprise the amount of any bona fide, itemized, separately invoiced due diligence expenses (the “Due Diligence Expenses”), (ii) pursuant to Section 6(a)(viii) of the Selected Dealer Agreement, the Dealer Manager will pay or cause to be paid, subject to Section 6(d) of the Selected Dealer Agreement, and as mutually agreed upon by the parties to the Selected Dealer Agreement, Ameriprise’s costs of technology associated with the offering, other costs and expenses related to such technology costs, and the facilitation of the marketing of the Shares and the ownership of such Shares by Ameriprise’s customers, including fees to attend Company-sponsored conferences (the “Distribution Expenses”), and (iii) pursuant to Section 6(b) of the Selected Dealer Agreement, the Company may reimburse Ameriprise to the extent that Ameriprise’s compliance with an Ad Hoc Request (as defined in Section 6(b) of the Selected Dealer Agreement) would cause Ameriprise to incur additional material expenses, in which case the Company and Ameriprise will mutually agree as to the payment of such expenses between the parties (the “Ad Hoc Request Expenses” and, collectively with the Marketing Fee, the Due Diligence Expenses, and the Distribution Expenses, the “Cost Reimbursement Compensation”); and 

WHEREAS, American Enterprise Investment Services Inc. (“AEIS”) , an SEC registered broker-dealer and FINRA member (CRD # 26506) is an affiliate of Ameriprise and provides clearing and related services solely and exclusively for Ameriprise;  

WHEREAS, the Dealer Manager and AEIS are parties to that certain Alternative Investment Product Networking Services Agreement, dated June 5, 2013 as amended, pursuant to which the broker-controlled accounts of Ameriprise’s customers that invest in the Company will be processed and serviced; and

WHEREAS, Ameriprise intends to migrate its cost reimbursement-related operations to AEIS as of the Effective Date, and thereafter AEIS shall provide such services to Ameriprise and financial advisors affiliated with Ameriprise.

NOW, THEREFORE, for good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, the Issuer Entities and Ameriprise agree as follows:

1.    As of the Effective Date, the Dealer Manager shall cease paying the Cost Reimbursement Compensation to Ameriprise and shall have no further obligation to pay the Cost Reimbursement Compensation to Ameriprise, other than those amounts incurred prior to the Effective Date.

2.    As of the Effective Date and continuing thereafter, AEIS will perform, for the benefit of the stockholders of the Company who are clients of Ameriprise, certain broker-dealer services including, but not limited to, distribution, marketing, administration and stockholder servicing support (the “Cost Reimbursement Services”), which were previously performed by Ameriprise under the Selected Dealer Agreement.  Cost Reimbursement Services performed by AEIS will further include product due diligence, training and education, and other support-related functions.  These Cost Reimbursement Services will be performed at AEIS by associated persons of AEIS.   

3.     As of the Effective Date and continuing thereafter, in consideration of the Cost Reimbursement Services to be provided by AEIS, (i) the Marketing Fee shall be re-allowed directly to AEIS by the Dealer Manager, (ii) the amount of any Due Diligence Expenses shall be paid by the Advisor directly to or on behalf of AEIS (as directed by AEIS), (iii) the Dealer Manager shall pay or cause to be paid directly to AEIS the amount of any Distribution Expenses incurred by AEIS and (iv) the Company shall pay or cause to be paid directly to AEIS the amount of any Ad Hoc Request Expenses incurred by AEIS, in each case pursuant to the terms of a separate, mutually agreeable, Cost Reimbursement Agreement between the Issuer Entities and AEIS, substantially in the form of Exhibit A hereto (the “Cost Reimbursement Agreement”).
  
The Issuer Entities and Ameriprise specifically acknowledge and agree that the payments described in clauses (i), (iii) and (iv) of this Section 3 shall be remitted directly to AEIS, and the payment of Due Diligence Expenses in clause (ii) of this Section 3 shall be remitted directly to or on behalf of AEIS (as directed by AEIS), in each case separate and apart from the Selling Commissions (as defined in the Selected Dealer Agreement) and distribution and stockholder servicing fee (the “Distribution Fees”) payable to Ameriprise under Section 3(d) of the Selected Dealer Agreement.  For the avoidance of doubt, the Issuer Entities acknowledge and agree that such payment of Cost Reimbursement Compensation to AEIS shall not be paid as a ‘pass-through’ to Ameriprise for payment to AEIS.

4.    The Issuer Entities and Ameriprise acknowledge and agree that the Cost Reimbursement Compensation shall not be paid to Ameriprise on and after the Effective Date, other than those amounts incurred prior to the Effective Date and (ii) all Selling Commissions and Distribution Fees payable to Ameriprise pursuant to Section 3(d) of the Selected Dealer Agreement on an after the Effective Date shall continue to be remitted directly to Ameriprise pursuant to the terms of the Selected Dealer Agreement.

5.    The Issuer Entities and Ameriprise acknowledge and agree that the total compensation paid to Ameriprise and AEIS by the Issuer Entities in connection with the Offering pursuant to the Selected Dealer Agreement, as amended by this Amendment and the Cost Reimbursement Agreement, shall not exceed the limitations prescribed by FINRA, including the 10% limitation prescribed by FINRA Rule 2310 on compensation of participating broker-dealers, which is calculated with respect to the gross proceeds from sales of Shares by Ameriprise (except for Shares sold pursuant to the DRIP). The Company, the Dealer Manager and Ameriprise agree to monitor the payment of all fees and expense reimbursements to assure that FINRA limitations are not exceeded. Accordingly, if at any time the Company determines in good faith that any payment to Ameriprise pursuant to the Selected Dealer Agreement as amended by this Amendment and/or any payment to AEIS pursuant to the Cost Reimbursement Agreement could result in a violation of the applicable FINRA regulations, the Company or the Dealer Manager shall promptly notify Ameriprise, and the Company, the Dealer Manager and Ameriprise agree to cooperate with each other to implement such measures as they determine are necessary to ensure continued compliance with applicable FINRA regulations. However, nothing in this Amendment shall relieve Ameriprise of its obligations to comply with FINRA Rule 2310.

6.      The Issuer Entities and Ameriprise acknowledge and agree that on and after the Effective Date, the representations, warranties and covenants made to Ameriprise under Section 2(ll) of the Selected Dealer Agreement shall be of no further force and effect and the Company shall not be required under Section 2(ll) of the Selected Dealer Agreement to notify Ameriprise of or deliver to Ameriprise any documents or other information.  On and after the Effective Date, pursuant to the Cost Reimbursement Agreement, the representations, warranties and covenants made by the Issuer Entities under Section 2(ll) of the Selected Dealer Agreement (before it was amended by this Amendment) shall be made to AEIS.  For the avoidance of doubt, subject to AEIS’s execution and delivery to the Company and the Independent Valuation Firm (as defined in Section 2(ll) of the Selected Dealer Agreement) of an access and confidentiality agreement, substantially in the form attached to the Selected Dealer Agreement as Exhibit C, AEIS shall be permitted to share any documents and other information provided to it pursuant to Section 2(ll) of the Selected 

Dealer Agreement with Ameriprise, and nothing shall preclude Ameriprise from providing the name of the Independent Valuation Firm and/or a summary of its review to its employees.

7.     Section 7 of the Selected Dealer Agreement is hereby amended such that on and after the Effective Date, any document required to be delivered to Ameriprise under Section 7 shall be required to be delivered to both Ameriprise and AEIS. 

8.    Section 8(d) of the Selected Dealer Agreement is hereby superseded and replaced with the following: 
d) Contribution.  Subject to the limitations and exceptions set forth in Section 8(a) hereof and in order to provide for just and equitable contribution where the indemnification provided for in this Section 8 is unavailable to or insufficient to hold harmless an indemnified party under subsection (a) or (b) above in respect of any losses, liabilities, claims, damages or expenses (or actions in respect thereof) referred to therein (collectively, “Losses”), except by reason of the terms thereof, the Issuer Entities on the one hand and Ameriprise on the other shall contribute to the amount paid or payable by such indemnified party as a result of such Losses (or actions in respect thereof) in such proportion as is appropriate to reflect the relative benefits received by each of the Issuer Entities, on the one hand, and Ameriprise on the other from the Offering based on the public offering price of the Shares sold and the Selling Commissions, Distribution Fees and Cost Reimbursement Compensation received by Ameriprise and/or AEIS with respect to such Shares sold. If, however, the allocation provided by the immediately preceding sentence is not permitted by applicable law, then each applicable indemnifying party, in lieu of indemnifying such indemnified party, shall contribute to the amount paid or payable by such indemnified party in such proportion as is appropriate to reflect not only such relative benefits referred to above but also the relative fault of the Issuer Entities, on the one hand and Ameriprise on the other in connection with the statements or omissions which resulted in such Losses (or actions in respect thereof), as well as any other relevant equitable considerations. The relative benefits received by the Issuer Entities, on the one hand and Ameriprise on the other shall be deemed to be in the same proportion as (a) the sum of (i) the aggregate net compensation retained by the Issuer Entities and their affiliates for the purchase of Shares sold by Ameriprise and (ii) total proceeds from the Offering (net of the Selling Commissions, Distribution Fees and Cost Reimbursement Compensation paid to Ameriprise and/or AEIS but before deducting expenses) received by the Company from the sale of Shares by Ameriprise bears to (b) the Selling Commissions, Distribution Fees and Cost Reimbursement Compensation retained by Ameriprise and/or AEIS. The relative fault shall be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission to state a material fact relates to information supplied by an Issuer Entity, on the one hand or Ameriprise on the other. The Issuer Entities agree with Ameriprise that it would not be just and equitable if contribution pursuant to this subsection (d) were determined by pro rata allocation, or by any other method of allocation which does not take account of the equitable considerations referred to above in this subsection (d). The amount paid or payable by an indemnified party as a result of the Losses referred to above in this subsection (d) shall be deemed to include any legal or other expenses reasonably incurred by such indemnified party in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this subsection (d), Ameriprise shall not be required to contribute any amount in excess of the amount by which the total price at which the Shares subscribed for through Ameriprise were offered to the subscribers exceeds the amount of any damages which Ameriprise has otherwise been required to pay by reason of any such untrue or alleged untrue statement or omission or alleged omission. Further, in no event shall the amount of Ameriprise’s contribution to the liability exceed the aggregate Selling Commissions, Distribution Fees, Cost Reimbursement Compensation and any other compensation retained by Ameriprise and/or AEIS from the proceeds of the Offering. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act or Section 10(b) of the Exchange Act, as amended) shall be entitled to contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of this Section, any person that controls Ameriprise within the meaning of Section 15 of the Securities Act shall have the same right to contribution as Ameriprise, and each person who controls the Company within the meaning of Section 15 of the Securities Act shall have the same right to contribution as the Company. 

9.    Except as set forth in this Amendment, all of the provisions of the Selected Dealer Agreement shall continue in full force and effect in accordance with their terms.

 [signature page follows]

IN WITNESS WHEREOF, the undersigned have hereto executed this Amendment as of the date first above written.
	
				
	 
	 
	GRIFFIN CAPITAL ESSENTIAL ASSET REIT II, INC.

	 
	 
	 
	 

	 
	 
	By:
	/s/ Kevin A. Shields

	 
	 
	Name:
	Kevin A. Shields

	 
	 
	Title:
	Chief Executive Officer

	 
	 
	 
	 

	 
	 
	GRIFFIN CAPITAL SECURITIES, LLC

	 
	 
	 
	 

	 
	 
	By:
	/s/ Kevin A. Shields

	 
	 
	Name:
	Kevin A. Shields

	 
	 
	Title:
	Chief Executive Officer

	 
	 
	 
	 

	 
	 
	GRIFFIN CAPITAL ESSENTIAL ASSET ADVISOR II, LLC

	 
	 
	 
	 

	 
	 
	By:
	/s/ Kevin A. Shields

	 
	 
	Name:
	Kevin A. Shields

	 
	 
	Title:
	Chief Executive Officer

	 
	 
	 
	 

	 
	 
	GRIFFIN CAPITAL CORPORATION

	 
	 
	 
	 

	 
	 
	By:
	/s/ Kevin A. Shields

	 
	 
	Name:
	Kevin A. Shields

	 
	 
	Title:
	Chief Executive Officer

	 
	 
	 
	 

	AMERIPRISE FINANCIAL SERVICES, INC.
	 
	 

	 
	 
	 
	 

	By:
	/s/ Frank A. McCarthy
	 
	 

	Name:
	Frank A. McCarthy
	 
	 

	Title:
	Senior Vice President and General Manager

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