Document:

Exhibit 10.7

 

RETIREMENT AND CONSULTING AGREEMENT

 

THIS RETIREMENT AND CONSULTING AGREEMENT (this “Agreement”), made and entered into as of December 20, 2012, among James T. Sartain (“Sartain”), FirstCity Financial Corporation, a Delaware corporation (“Company”), and solely for purposes of Section 5 hereof and any other provision which expressly applies to the “parties” to this Agreement, Värde Partners, Inc. (“Värde”);

 

WITNESSETH THAT:

 

WHEREAS, Sartain is currently employed by Company as its President and Chief Executive Officer;

 

WHEREAS, pursuant to that certain Agreement and Plan of Merger among Hotspurs Holdings LLC (“Parent”), Hotspurs Acquisition Corporation (“Merger Subsidiary”) and Company dated December 20, 2012  (the “Merger Agreement”), Merger Subsidiary will merge with and into Company and Company will continue as the surviving corporation and a wholly-owned subsidiary of Parent;

 

WHEREAS, in connection with the transactions contemplated by the Merger Agreement, Sartain will retire from employment with Company and its affiliates; and

 

WHEREAS, Company has determined that it is appropriate to provide retirement payments to Sartain upon his retirement and to require from Sartain certain agreements and covenants in exchange for such retirement payments, including a mutual release and waiver; and

 

WHEREAS, following the Closing Date (as defined in the Merger Agreement) Värde will engage Sartain as a strategic consultant in accordance with the terms of Section 5 hereof;

 

NOW, THEREFORE, the parties agree as follows, all conditioned upon the Closing of the transactions contemplated by the Merger Agreement:

 

1.             Effective Date.  This Agreement shall become effective on the Closing Date (the “Effective Date”), which is anticipated to occur during the 2013 calendar year, provided that Sartain remains employed by Company through the Closing.  Notwithstanding the foregoing or any other provision of this Agreement, this Agreement is conditioned upon and shall become effective only upon the consummation of the transactions contemplated by the Merger Agreement and if such transactions are not consummated, this Agreement shall be of no force and effect and shall terminate automatically without any further actions of the parties.

 

2.             Release Requirements.  In consideration of the Retirement Payments (as defined in Section 4 hereof) provided to Sartain in accordance with this Agreement, on

 

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or after the Effective Date Sartain is required to execute a Mutual Release and Waiver, in the form set forth as Exhibit A of this Agreement (as the same may be updated in connection with the Closing), which Exhibit A is attached to and forms a part of this Agreement (the “Sartain Release”), the Sartain Release shall become effective, and the Sartain Release shall not be revoked by Sartain.  The requirements set forth in this Section 2 are referred to herein as the “Release Requirements”.  Company also agrees to enter into the Sartain Release.

 

3.             Termination Date.  Subject to the terms and conditions of this Agreement, Sartain’s employment with Company and its affiliates shall terminate effective as of Closing (the “Termination Date”) and Sartain shall cease to be an officer and/or director of Company and its affiliates as of the Termination Date.

 

4.             Payments on Retirement.  Subject to the terms and conditions of this Agreement, in consideration of Sartain’s past services for Company, the Sartain Release and the provisions of Sections 6 and 7 of this Agreement, Sartain shall be entitled to the following compensation and other payments and benefits under this Agreement:

 

(a)           On the Termination Date or otherwise in accordance with applicable law, Company shall pay to Sartain any accrued but unpaid wages and any other accrued but unpaid compensation which is owed to Sartain by Company for periods ending on or prior to the Termination Date.  Sartain shall be entitled to any compensation or benefits under employee benefit plans and arrangements maintained by Company and its affiliates which have accrued to him as of the Termination Date under the express provisions of such plans and arrangements, including payment for accrued and unused vacation in the amount of $76,921.60, which amount shall be reduced by any vacation time actually used by Sartain from January 1, 2013 through the Termination Date, it being understood that in no event shall this Agreement provide any compensation or benefit in substitution for, or otherwise in lieu of, any compensation or benefit to which Sartain is entitled under any such plan or arrangement.

 

(b)           On the 8th day following the Termination Date (the “Payment Date”), Company shall pay to Sartain, in a lump sum cash payment, the annual bonus amount that Sartain would have been entitled to receive under Company’s 2012 bonus plan had the Termination Date not occurred, to the extent not already paid to Sartain on the Payment Date, in accordance with the normal provisions of the 2012 bonus plan (or in an amount and to the extent otherwise determined by the Compensation Committee of the Company’s Board of Directors pursuant to the provisions of the 2012 bonus plan); provided, however, that in the event that, as of the Payment Date, the 2012 bonus has not been paid to executives generally in accordance with the past practices of Company, then the 2012 bonus

 

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shall be paid as of the date that such bonus is otherwise paid to executives in accordance with past practices.

 

(c)           On the Payment Date, Company shall pay Sartain a lump sum cash payment equal to $1.25 million.

 

Notwithstanding the foregoing or any other provision of this Agreement to the contrary, no payments shall be paid to Sartain pursuant to paragraphs 4(b) or (c) (collectively, “Retirement Payments”) unless the Release Requirements are met as of the Payment Date.  If the Release Requirements are not met on the Payment Date, Sartain shall have no rights to the Retirement Payments and Company shall not pay any Retirement Payments to Sartain.

 

In addition to the foregoing, at the Termination Date, (i) Sartain shall be entitled to maintain his cell phone number and Company will cooperate in the transfer of such number into Sartain’s name, and (ii) Sartain shall be entitled to retain and remove from Company premises any furniture, artwork or mementos owned by him as documented in Schedule 4 attached hereto, which Schedule 4 shall be completed by Sartain and provided to Company within 30 days from the date hereof.

 

5.             Consulting Services.  Subject to the terms and conditions of this Agreement, Värde hereby retains the services of Sartain as a consultant for the period beginning on the Effective Date and ending on the six month anniversary of the Effective Date (the “Consulting Term”); provided, however, that Värde and Sartain, by mutual agreement, may extend the Consulting Term past the six month anniversary of the Effective Date in 30 day increments and, in the event of any such extension, the terms and conditions of this Section 5 shall continue to apply for such extended period.  Sartain hereby agrees to render consulting services to Värde during the Consulting Term in accordance with this Agreement.  Sartain agrees that, during the Consulting Term, while he is obligated to provide services to Värde pursuant to this Agreement, he shall provide such consulting services relating to strategic matters and operations relating to the Company as may be requested by Värde (or the Company with Värde’s consent) and Värde on matters as may be reasonably requested from time to time by the senior management of Värde (collectively “Consulting Services”); provided, however, that, in no event shall Sartain be required to devote more than 30 hours during any full calendar month to the performance of Consulting Services hereunder (which hours shall be proportionately reduced for any partial calendar month occurring during the Consulting Term).  Subject to the foregoing provisions of this Section 5, nothing in this Agreement shall preclude Sartain from performing services for persons or entities other than Värde and its affiliates during the Consulting Term or thereafter.  In consideration of the obligations of Sartain under this Section 5, Värde shall pay Sartain a “Consulting Fee” in the amount of $16,666.67 per month during the Consulting Term, which amount shall be paid monthly; provided, however, that Värde may accelerate the payment of any portion of the Consulting Fee to the extent that such acceleration would not violate section 409A of the Code.

 

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6.             Confidential Information.  Except as may be required by the lawful order of a court or agency of competent jurisdiction, or except to the extent that Sartain has express authorization from Company, Sartain agrees that he will keep secret and confidential indefinitely, will not disclose, either directly or indirectly, to any other person, firm, or business entity, and will not use in any way, any non-public information concerning Company and its affiliates (including Värde and its affiliates) which was acquired by or disclosed to him during the course of his employment with Company (or during the Consulting Term), including, without limitation, Company’s and its affiliates customers, products, equipment, processes, costs, operations and methods, whether past, current, or planned, as well as knowledge and data relating to processes, business plans, marketing and sales information originated, owned, controlled or possessed by Company or its affiliates .  Nothing in the foregoing provisions of this Section 6 shall be construed so as to prevent Sartain from using, in connection with his employment for himself, for an employer (or other recipient of his services), or otherwise, knowledge which was acquired by him during the course of his employment or other engagement by Company and which is generally known to persons of his experience in other companies in the same industry or such information that otherwise becomes publicly available through no fault of Sartain.

 

7.             Non-solicitation.  Sartain agrees that from and after the Termination Date, and for a period of twelve (12) months thereafter (the “Restricted Period”), neither he nor any individual, partner(s), limited partnership, corporation or other entity or business with which he is in any way affiliated, including, without limitation, any partner, limited partner, member, director, officer, shareholder, employee, or agent of any such entity or business will (a) request, induce or attempt to influence, directly or indirectly, any employee of Company or any of its affiliates to terminate their employment with Company or any of its affiliates or (b) employ any person who, during his period of employment with Company was, or after the Termination Date is, an employee of Company or any of its affiliates; provided, however, that the foregoing restrictions shall not apply to general employment solicitations and not directed to an employee of Company or its affiliates or the hiring of any former employee of Company or any of its affiliates who was not solicited to leave or induced to leave the employment of Company or any of its affiliates by Sartain.  Sartain further agrees that, during the Restricted Period, he shall not, directly or indirectly, as an individual, employee, agent, consultant, stockholder, director, partner or in any other individual or representative capacity of Company or of any other person, entity or business), solicit or encourage any supplier, contractor, partner or investor of Company or any of its affiliates, determined as of the Effective Time (or, if later, the end of the Consulting Term) to terminate, limit or otherwise alter his, her or its relationship with Company; provided, however, that the foregoing restrictions shall not apply to general solicitations or communications by Sartain or any such entity that are not directed at any suppliers, contractors, partners or investors of the Company or its affiliates for the purpose of soliciting or encouraging them to terminate, limit or otherwise alter his, her or its relationship to the Company or any of its affiliates.  Notwithstanding any contrary provisions of the immediately

 

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preceding sentence, this Section 7 is not intended and shall not be construed as a covenant of noncompetition on the part of Sartain, and Sartain shall be entitled following his employment with Company to become an employee, partner, investor, member, consultant or participant with any third party that itself may be engaged in a business similar to that of Company.

 

8.             Amendment.  This Agreement may be amended or canceled only by mutual agreement of Company and Sartain (or, with respect to Section 5, Värde and Sartain) in writing without the consent of any other person.  So long as Sartain lives, no person, other than the parties hereto, shall have any rights under or interest in this Agreement or the subject matter hereof.

 

9.             Successors and Affiliates.  This Agreement shall be binding on, and inure to the benefit of, Company and its successors and assigns and any person acquiring, whether by merger, consolidation, purchase of assets or otherwise, all or substantially all of Company’s assets and business.  With respect to Section 5, the provisions of this Section 9 shall be applied to Värde.

 

10.          Remedies.  Sartain acknowledges that Company and its affiliates would be irreparably injured by his violation of Sections 6 or 7, and he agrees that Company, in addition to any other remedies available to it for such breach or threatened breach, shall be entitled to a preliminary injunction, temporary restraining order, or other equivalent relief, restraining Sartain from any actual or threatened breach of Sections 6 or 7.

 

11.          Withholding.  To the extent required by applicable law, all amounts otherwise payable under the Agreement shall be subject to withholding and other employment taxes.

 

12.          Waiver of Breach.  The waiver by one party of another party’s breach of any provision of this Agreement shall not operate as or be deemed a waiver by the non-breaching party(ies) of any subsequent breach.  Continuation of payments or benefits hereunder by Company or Värde (as applicable) following a breach by Sartain of any provision of this Agreement shall not preclude Company or Värde, as applicable, from thereafter exercising any right that it may otherwise independently have to terminate said payments or benefits based upon the same violation.

 

13.          Severability.  The invalidity or unenforceability of any provision of this Agreement will not affect the validity or enforceability of any other provision of this Agreement, and this Agreement will be construed as if such invalid or unenforceable provision were omitted (but only to the extent that such provision cannot be appropriately reformed or modified).

 

14.          Notices.  All notices hereunder shall be in writing and shall be deemed sufficiently given if personally delivered, sent by registered or certified mail, postage

 

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prepaid, sent by overnight courier or facsimile, at such addresses as the parties may from time to time provide to each other.

 

15.          Governing Law.  This Agreement shall be construed in accordance with the laws of the State of Texas, without regard to the conflict of law provisions of any state.

 

16.          Counterparts.  This Agreement may be executed in more than one counterpart, but all of which together will constitute one and the same agreement.

 

17.          Other Agreements.  Except as otherwise specifically provided in this Agreement, this instrument constitutes the entire agreement between Sartain and Company on one hand and Sartain and Värde on the other hand relating to the subject matter hereof and supersedes all prior agreements and understandings between or among the parties relating to the subject matter hereof, whether written or oral.

 

18.          Special Section 409A Provisions.  This Agreement shall be interpreted and administered in a manner so that any amount or benefit payable hereunder shall be paid or provided in a manner that is either exempt from or compliant with the requirements Section 409A of the Code and applicable Internal Revenue Service guidance and Treasury Regulations issued thereunder.  Notwithstanding any other provision of this Agreement to the contrary, if any payment or benefit hereunder is subject to section 409A of the Code, and if such payment or benefit is to be paid or provided on account of Termination Date (or other separation from service or termination of employment):

 

(a)           and if Sartain is a specified employee (within the meaning of section 409A(a)(2)(B) of the Code) and if any such payment or benefit is required to be made or provided prior to the first day of the seventh month following Sartain’s separation from service or termination of employment, such payment or benefit shall be delayed until the first day of the seventh month following Sartain’s separation from service; and

 

(b)           the determination as to whether Sartain has had a termination of employment (or separation from service) shall be made in accordance with the provisions of section 409A of the Code and the guidance issued thereunder without application of any alternative levels of reductions of bona fide services permitted thereunder.

 

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

 

 

	
 
    	
FIRSTCITY   FINANCIAL CORPORATION
    
	
 
    	
 
    
	
 
    	
By
    	
/s/   William P. Hendry
    
	
 
    	
Its
    	
Chairman   of the Board
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
Solely   for purposes of Sections 5 hereof:
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
VÄRDE   PARTNERS, INC.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By
    	
/s/   Jason R. Spaeth
    
	
 
    	
Its
    	
Managing   Principal
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
/s/   James T. Sartain
    
	
 
    	
James   T. Sartain
    

 

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Exhibit A

 

SARTAIN RELEASE

MUTUAL RELEASE AND WAIVER

 

This document is attached to, is incorporated into, and forms a part of, a Retirement and Consulting Agreement dated as of December 20, 2012 (the “Agreement”) between FirstCity Financial Corporation  (“Company”) and James T. Sartain (“Sartain”) and, for certain limited purposes, Värde Partners, Inc.  Except for a claim based upon a breach of the Agreement, Sartain, on behalf of himself and his heirs, representatives, agents, and insurers (hereinafter the “Employee Releasors”) releases and forever discharges Company, and its current and former officers, directors, trustees, members, representatives, agents, employees, and insurers, and its affiliates, predecessors and successors and their respective officers, directors, representatives, agents, employees, and insurers (hereinafter collectively and individually the “Releasees”) from any and all rights, claims, demands, debts, dues, sums of money, accounts, attorneys’ fees, complaints, judgments, executions, actions and causes of action of any nature whatsoever, cognizable at law or equity, known or unknown (sometimes referred to in this Release as “Claims”) which Sartain (or the other Employee Releasors may have) now has or claims, or might hereafter have or claim, against the Releasees based upon or arising out of any matter or thing whatsoever, through the date of this Mutual Release and Waiver, including but not limited to any alleged violation of the Age Discrimination in Employment Act of 1967, as amended (including amendments made by the Older Workers Benefit Protection Act), Title VII of the Civil Rights Act of 1964, as amended, The Civil Rights Act of 1991, Section 1981 through 1988 of Title 42 of the United States Code, as amended, the Employee Retirement Income Security Act of 1974, as amended, The National Labor Relations Act, as amended, The Fair Labor Standards Act, as amended, The Occupational Safety and Health Act, as amended, The Family and Medical Leave Act of 1993, any state antidiscrimination law, any state wage and hour law, any other local state or federal law, regulations or ordinance, any public policy, contract, tort or common law or any allegation for costs, fees or other expenses ,including attorneys’ fees, incurred in these matters.  Claims for breach of the Agreement by Company are not waived or released by Employee Releasors.

 

Company, in exchange for good and valuable consideration, releases and forever discharge Employee Releasors from any and all Claims which Company now has or claims, or might hereafter have or claim, against the Employee Releasors based upon or arising out of any matter or thing whatsoever, through the date of this Mutual Release and Waiver with the exception of willful misconduct, fraud or criminal conduct in the discharge of Sartain’s employment duties or acts knowingly outside the scope of his employment with Company, provided further that as of the date of signing this Mutual Release and Waiver, the Company is not aware of any circumstances falling

 

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within this exception.  In addition, claims for breach of the Agreement by Sartain are not waived or released by the Company.

 

The following provisions are applicable to and made a part of the Agreement and this Mutual Release and Waiver:

 

(a)                                 In exchange for this Mutual Release and Waiver, Sartain hereby acknowledges that he has received separate consideration beyond that to which he is otherwise entitled under Company’s policies or applicable law.

 

(b)                                 Company hereby expressly advises Sartain to consult with an attorney of his choosing prior to executing the Agreement or this Mutual Release and Waiver.

 

(c)                                  Sartain has forty-five (45)  days from the Effective Date (as defined in the Agreement) to consider whether or not to execute this Mutual Release and Waiver.  In the event of such execution, Sartain has a further period of seven (7) days from the date of said execution in which to revoke said execution.  The Mutual Release and Waiver will not become effective until expiration of such revocation period.

 

(d)                                 This Mutual Release and Waiver and the commitments and obligations of the Company and Sartain under the Agreement:

 

(i)                                                                 shall become final and binding immediately following the expiration of Sartain’s right to revoke the execution of the Agreement in accordance with paragraph (c) of this Exhibit A;

 

(ii)                                                               shall not become final and binding until the expiration of such right to revoke; and

 

(iii)                                                           shall not become final and binding if Sartain revokes such execution by writing delivered to Company’s Board of Directors on or prior to the date on which his right to revoke the execution of this Agreement expires.

 

(e)                                  Sartain hereby acknowledges that he has carefully read and understands the terms of the Agreement and this Mutual Release and Waiver and each of his rights as set forth therein and that, by executing this Mutual Release and Waiver and to receive thereby the payments and benefits agreed to in the Agreement, he freely and knowingly, and after due consideration, voluntarily enters into this Mutual Release and Waiver.  Sartain further agrees that if he signs this Mutual Release and Waiver in less than 45 days, he confirms by such signature that he does so freely and knowingly, after due consideration, voluntarily and without any pressure or coercion of any nature from anyone at Company.  [TO BE ATTACHED AT EFFECTIVE DATE:  A list of the job titles and ages of all

 

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individuals eligible to and not eligible to receive severance is attached hereto as Appendix 1.]

 

MY SIGNATURE BELOW ACKNOWLEDGES THAT I HAVE READ THIS ENTIRE DOCUMENT, UNDERSTAND WHAT I AM SIGNING, AND AM ACTING VOLUNTARILY OF MY OWN FREE WILL, HAVING RECEIVED VALUABLE CONSIDERATION FOR THIS AGREEMENT. THE COMPANY HAS HEREBY ADVISED ME IN WRITING TO CONSULT WITH AN ATTORNEY AND ANY OTHER ADVISORS OF MY CHOICE PRIOR TO SIGNING THIS MUTUAL RELEASE AND HAS ADVISED ME THAT I AM RELEASING CLAIMS UNDER THE AGE DISCRIMINATION IN EMPLOYMENT ACT, AMONG OTHER CLAIMS, AND FURTHER THAT I WILL NOT RECEIVE ANY PAYMENTS OR BENEFITS EXCEPT AS SPECIFICALLY PROVIDED IN THIS AGREEMENT.

 

 

	
SIGNATURE
    	
 
    	
 
    	
DATE
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Agreed   by:
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
FIRSTCITY   FINANCIAL CORPORATION
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
By::
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Its:
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
Date:
    	
 
    	
 
    	
 
    
								

 

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Schedule 4

 

[To be supplied by Sartain]

 

4Exhibit 10.1

 

EXECUTION

	
 
    	
 
    	
 
    

 

FOURTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

 

among

 

MARKWEST ENERGY PARTNERS, L.P.,

as the Borrower,

 

WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Administrative Agent,

 

and

 

The Agents and Lenders from Time to Time Parties Thereto,

 

Dated as of December 20, 2012

 

WELLS FARGO SECURITIES, LLC

and

RBC CAPITAL MARKETS,

as Joint Lead Arrangers

 

and

 

WELLS FARGO SECURITIES, LLC,

and

RBC CAPITAL MARKETS

as Joint Bookrunners

	
 
    	
 
    	
 
    

 

FOURTH AMENDMENT TO MARKWEST ENERGY PARTNERS
 AMENDED AND RESTATED CREDIT AGREEMENT

 

 

FOURTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT

 

THIS FOURTH AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (herein called the “Amendment”) dated as of December 20, 2012 among MARKWEST ENERGY PARTNERS, L.P., a Delaware limited partnership (“Borrower”), WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent, Swingline Lender, and Issuing Bank, and the several banks and other financial institutions or entities from time to time parties to the Existing Credit Agreement defined below (“Lenders”).

 

W I T N E S S E T H:

 

WHEREAS, Borrower, Administrative Agent, Issuing Bank, Swingline Lender and Lenders entered into that certain Amended and Restated Credit Agreement dated as of July 1, 2010, as amended by a First Amendment to Amended and Restated Credit Agreement dated September 7, 2011, by a Second Amendment to Amended and Restated Credit Agreement dated December 29, 2011 and by a Third Amendment to Amended and Restated Credit Agreement dated June 29, 2012 (as amended, the “Existing Credit Agreement”), for the purpose and consideration therein expressed, whereby Lenders became obligated to make Revolving Loans to Borrower as therein provided; and

 

WHEREAS, Borrower, Administrative Agent, Issuing Bank, Swingline Lender and Lenders desire to amend the Existing Credit Agreement as set forth herein;

 

NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements contained herein and in the Existing Credit Agreement, in consideration of the loans which may hereafter be made by Lenders to Borrower, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto do hereby agree as follows:

 

ARTICLE I.

 

DEFINITIONS AND REFERENCES

 

Paragraph  1.1                Terms Defined in the Existing Credit Agreement.  Unless the context otherwise requires or unless otherwise expressly defined herein, the terms defined in the Existing Credit Agreement shall have the same meanings whenever used in this Amendment.

 

Paragraph  1.2                Other Defined Terms.  Unless the context otherwise requires, the following terms when used in this Amendment shall have the meanings assigned to them in this Paragraph 1.2.

 

“Amendment Documents” means this Amendment and all other documents or instruments delivered in connection herewith.

 

“Credit Agreement” means the Existing Credit Agreement as amended hereby.

 

“Fourth Amendment Effective Date” means December 20, 2012.

 

ARTICLE II.

 

AMENDMENTS TO EXISTING CREDIT AGREEMENT

 

Paragraph  2.1                Additional Defined Terms.  Section 1.01 of the Existing Credit Agreement is amended to add the following definitions:

 

 

“Fourth Amendment means that certain Fourth Amendment to Amended and Restated Credit Agreement dated as of the Fourth Amendment Effective Date, among the Borrower, the Guarantors, Wells Fargo Bank, National Association, as Administrative Agent, Issuing Bank and Swingline Lender and the Required Lenders.”

 

“Fourth Amendment Effective Date means December 20, 2012.”

 

Paragraph 2.2                Existing Defined Terms.

 

(a)                                 The following definitions in Section 1.01 of the Existing Credit Agreement are hereby amended in their entirety to read as follows:

 

“Agreement means this Agreement, which amends and restates in its entirety the Original Credit Agreement, as amended by the First Amendment, Second Amendment, Third Amendment and Fourth Amendment, as this Agreement may be further amended, modified, supplemented or restated from time to time in accordance with the terms hereof.”

 

“Loan Documents means this Agreement, the First Amendment, the Second Amendment, the Third Amendment, the Fourth Amendment, each Note, the Collateral Documents, the Issuing Documents, the Fee Letter, the First Amendment Fee Letter, the Second Amendment Fee Letter, the Third Amendment Fee Letter, any Loan Modification Agreement, and each and every other agreement executed in connection with this Agreement; provided, however, that in no event shall any Lender Hedging Agreement or any agreement in respect of Banking Services Obligations constitute a Loan Document hereunder.”

 

“MWLM&R Collateral Assets means (a) the natural gas processing facilities owned and operated by MWLM&R generally known and identified as Houston 1, Houston 2 and Houston 3 and (b) all plant, property and equipment related solely thereto and all contracts and revenues related solely thereto or generated solely thereby.”

 

(b)                                 The definition of Majorsville 4 in Section 1.01 of the Existing Credit Agreement is hereby deleted in its entirety.

 

Paragraph 2.3                Total Leverage Ratio.  Section 7.15(b) of the Existing Credit Agreement is hereby amended to read in its entirety as follows:

 

(b)                                 Total Leverage Ratio.  Permit the Total Leverage Ratio at any fiscal quarter-end through and including the fiscal quarter ending December 31, 2013, to be greater than 5.50 to 1.0 and thereafter at any fiscal quarter-end to be greater than 5.25 to 1.0; provided, (x) as a condition precedent to the Borrower’s designation of a Subsidiary as an Excluded Venture pursuant to Section 1.08 and (y) as a condition precedent to the Borrower making an Investment described in Section 7.02(i), the Total Leverage Ratio must not be greater than 4.75 to 1.0.

 

Paragraph 2.4                Adjustments for Material Projects.  The first sentence of Section 7.15(e)of the Existing Credit Agreement is hereby amended to read in its entirety as follows:

 

“For purposes of determining compliance with Sections 7.15(a), (b) and (c) in the event the Borrower, any of its consolidated Subsidiaries or any Excluded Venture, including MWLM&R, undertakes a Material Project, a Material Project Consolidated EBITDA

 

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Adjustment may be made at Borrower’s option, subject to Administrative Agent’s review and approval of each component of such Material Project Consolidated EBITDA Adjustment.”

 

Paragraph 2.5                Adjustments for Material Projects.  Section 7.15(e)(iii) of the Existing Credit Agreement is hereby amended to read in its entirety as follows:

 

(iii)                               Notwithstanding the foregoing: (A) no such additions shall be allowed with respect to any Material Project unless: (x) the contracts relating to such Material Project are substantially fee-based, (y) not later than 15 days prior to the delivery of any Compliance Certificate required by the terms and provisions of Section 6.02(a) to the extent Material Project Consolidated EBITDA Adjustments will be made to Adjusted Consolidated EBITDA in determining compliance with this Section 7.15, the Borrower shall have delivered to the Administrative Agent a schedule comparable in scope and detail to the schedule attached to the prior quarter’s Compliance Certificate as “Worksheet 2 — Material Project Adjustments” and if requested by the Administrative Agent, written pro forma projections or models for such Material Projects as may be identified by Administrative Agent for which Material Project Consolidated EBITDA Adjustments are proposed, and (z) no later than 5 days prior to the date such Compliance Certificate is required to be delivered by the terms and provisions of Section 6.02(a), the Administrative Agent shall have approved (such approval not to be unreasonably withheld, conditioned or delayed) or be deemed to have approved such projections (deemed approval to occur if the Administrative Agent does not disapprove any such projection(s) in writing sent to the Borrower at least 5 days prior to the date such Compliance Certificate is required to be delivered), and (B) the aggregate amount of all Material Project Consolidated EBITDA Adjustments during any period shall be limited to 20% of the total actual Consolidated EBITDA of the Borrower and Excluded Ventures for such period (which total actual Consolidated EBITDA shall be determined without including any Material Project Consolidated EBITDA Adjustments).

 

Paragraph 2.6                            Amended Exhibit C.  Exhibit C “Compliance Certificate”  to the Existing Credit Agreement is hereby deleted in its entirety and Exhibit C attached to this Amendment is substituted therefore.  Any reference in the Existing Credit Agreement to such Exhibit shall be deemed to refer to Exhibit C attached hereto.

 

ARTICLE III.

 

CONDITIONS OF EFFECTIVENESS

 

Paragraph 3.1                Fourth Amendment Effective Date(a).  This Amendment shall become effective as of the date first above written when and only when Administrative Agent shall have received this Amendment, executed by the Borrower, Lenders comprising Required Lenders, the Administrative Agent, Issuing Bank, and Swingline Lender and the Consent and Agreement attached to this Amendment executed by the Guarantors.

 

ARTICLE IV.

 

REPRESENTATIONS AND WARRANTIES

 

Paragraph 4.1                Representations and Warranties.  In order to induce the Required Lenders to enter into this Amendment, Borrower and each Guarantor represent and warrant to each Lender that:

 

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(a)                                 The representations and warranties contained in Article V of the Existing Credit Agreement are true and correct in all material respects (except to the extent that any representation and warranty that is qualified by materiality shall be true and correct in all respects) at and as of the time of the effectiveness hereof, except to the extent such representations and warranties specifically refer to an earlier date, in which case they are true and correct in all material respects (except to the extent that any representation and warranty that is qualified by materiality shall be true and correct in all respects) as of such earlier date.

 

(b)                                 Borrower and Guarantors are duly authorized to execute and deliver this Amendment and the other Amendment Documents to which they are a party and Borrower is and will continue to be duly authorized to borrow monies and to perform its obligations under the Existing Credit Agreement. Borrower and Guarantors have duly taken all limited partnership, limited liability company or corporate action, as applicable, necessary to authorize the execution and delivery of this Amendment and the other Amendment Documents to which they are a party and, in the case of Borrower, to authorize the performance of the obligations of Borrower hereunder and thereunder.

 

(c)                                  When duly executed and delivered, each of this Amendment and the Existing Credit Agreement will be a legal, valid and binding obligation of Borrower, enforceable in accordance with its terms, except as limited by bankruptcy, insolvency or similar laws of general application relating to the enforcement of creditors’ rights and by equitable principles of general application.

 

(d)                                 No Default or Event of Default exists or will exist prior to and immediately after giving effect to this Amendment.

 

ARTICLE V.

 

MISCELLANEOUS

 

Paragraph 5.1                Ratification of Agreements.  The Existing Credit Agreement as hereby amended is and shall continue to be in full force and effect and is hereby ratified and confirmed in all respects.  The Loan Documents, as they may be amended or affected by the various Amendment Documents, are hereby ratified and confirmed in all respects. Any reference to the Existing Credit Agreement in any Loan Document shall be deemed to be a reference to the Existing Credit Agreement as hereby amended.  The execution, delivery and effectiveness of this Amendment and the other Amendment Documents shall not, except as expressly provided herein or therein, operate as a waiver of any right, power or remedy of Lenders under the Existing Credit Agreement, the Notes, or any other Loan Document nor constitute a waiver of any provision of the Existing Credit Agreement, the Notes or any other Loan Document.  Without limiting the generality of the foregoing, the Collateral Documents and all of the Collateral described therein do and shall continue to secure the payment of all Obligations of the Loan Parties under the Loan Documents, in each case, as amended by this Amendment.

 

Paragraph 5.2                            Survival of Agreements. All representations, warranties, covenants and agreements of Borrower and the Subsidiary Guarantors herein shall survive the execution and delivery of this Amendment and the performance hereof, including without limitation the making or granting of the Loans, and shall further survive until Payment in Full of the Obligations.

 

Paragraph 5.3                Loan Documents.  This Amendment, and each of the other Amendment Documents, is a Loan Document, and all provisions in the Credit Agreement pertaining to Loan Documents apply hereto and thereto.

 

4

 

Paragraph 5.4                Governing Law.  This Amendment shall be governed by and construed in accordance the laws of the State of New York and any applicable laws of the United States of America in all respects, including construction, validity and performance.

 

Paragraph 5.5                Miscellaneous.  This Amendment is a “Loan Document” referred to in the Credit Agreement.  The provisions relating to Loan Documents in Article X of the Credit Agreement are incorporated in this Amendment by reference.  Unless stated otherwise (a) the singular number includes the plural and vice versa and words of any gender include each other gender, in each case, as appropriate, (b) headings and captions may not be construed in interpreting provisions and (c) if any part of this Amendment is for any reason found to be unenforceable, all other portions of it nevertheless remain enforceable.

 

Paragraph 5.6                Release.  As additional consideration for the execution, delivery and performance of this Amendment by the parties hereto and to induce the Administrative Agent, Issuing Bank, Swingline Lender and the Lenders to enter into this Amendment, the Borrower warrants and represents to the Administrative Agent, Issuing Bank, Swingline Lender and the Lenders that to its knowledge no facts, events, statuses or conditions exist or have existed which, either now or with the passage of time or giving of notice, or both, constitute or will constitute a basis for any claim or cause of action against the Administrative Agent, Issuing Bank, Swingline Lender or any Lender or any defense to (i) the payment of the Obligations under the Notes and/or the Loan Documents, or (ii) the performance of any of its obligations with respect to the Notes and/or the Loan Documents.  In the event any such facts, events, statuses or conditions exist or have existed, Borrower unconditionally and irrevocably hereby RELEASES, RELINQUISHES and forever DISCHARGES Administrative Agent, Issuing Bank, Swingline Lender and the Lenders, as well as their predecessors, successors, assigns, agents, officers, directors, shareholders, employees and representatives, of and from any and all claims, demands, actions and causes of action of any and every kind or character, past or present, which Borrower may have against any of them or their predecessors, successors, assigns, agents, officers, directors, shareholders, employees and representatives arising out of or with respect to (a) any right or power to bring any claim for usury or to pursue any cause of action based on any claim of usury, and (b) any and all transactions relating to the Loan Documents occurring prior to the date hereof, including any loss, cost or damage, of any kind or character, arising out of or in any way connected with or in any way resulting from the acts, actions or omissions of any of them, and their predecessors, successors, assigns, agents, officers, directors, shareholders, employees and representatives, including any breach of fiduciary duty, breach of any duty of fair dealing, breach of confidence, breach of funding commitment, undue influence, duress, economic coercion, conflict of interest, negligence, bad faith, malpractice, intentional or negligent infliction of mental distress, tortious interference with contractual relations, tortious interference with corporate governance or prospective business advantage, breach of contract, deceptive trade practices, libel, slander or conspiracy, but in each case only to the extent permitted by applicable Law.

 

Paragraph 5.7                Counterparts; Fax.  This Amendment may be separately executed in counterparts and by the different parties hereto in separate counterparts, each of which when so executed shall be deemed to constitute one and the same Amendment.  This Amendment and the other Amendment Documents may be validly executed by facsimile or other electronic transmission. Delivery of an executed counterpart of a signature page of this Amendment by facsimile or other electronic transmission shall be effective as delivery of a manually executed counterpart of this Amendment.

 

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

 

5

 

[The remainder of this page has been intentionally left blank.]

 

6

 

EXHIBIT C

 

FORM OF COMPLIANCE CERTIFICATE

 

Financial Statement Date:            

 

To:                             Wells Fargo Bank, National Association, as Administrative Agent

 

Ladies and Gentlemen:

 

Reference is made to that certain Amended and Restated Credit Agreement, dated as of July [1], 2010 (as amended, restated, extended, supplemented or otherwise modified in writing from time to time, the “Agreement;” the terms defined therein being used herein as therein defined), among MarkWest Energy Partners, L.P., a Delaware limited partnership (the “Borrower”), the Lenders from time to time party thereto, and Wells Fargo Bank, National Association, as Administrative Agent, Issuing Bank and Swingline Lender.

 

The undersigned Responsible Officer hereby certifies as of the date hereof that he/she is the                                                                  of the Borrower, and that, as such, he/she is authorized to execute and deliver this Certificate to the Administrative Agent on the behalf of the Borrower, and that:

 

[Use following paragraph 1 for Fiscal Year-end financial statements]

 

1.  Attached hereto as Schedule 1 are the year-end audited financial statements required by Section 6.01(a) of the Agreement for the Fiscal Year of the Borrower ended as of the above date, together with the report and opinion of an independent certified public accountant required by such section.

 

[Use following paragraph 1 for fiscal quarter-end financial statements]

 

1.                                      Attached hereto as Schedule 1 are the unaudited financial statements required by Section 6.01(b) of the Agreement for the fiscal quarter of the Borrower ended as of the above date. Such financial statements fairly present the financial condition, results of operations and cash flows of the Borrower and its Subsidiaries in all material respects on a consolidated basis in accordance with GAAP as at such date and for such period, subject only to normal year-end adjustments and the absence of footnotes.

 

2.                                      The undersigned has reviewed and is familiar with the terms of the Agreement and has made, or has caused to be made under his/her supervision, a detailed review of the transactions and condition (financial or otherwise) of the Borrower during the accounting period covered by the attached financial statements.

 

3.                                      A review of the activities of the Borrower during such fiscal period has been made under the supervision of the undersigned with a view to determining whether during such fiscal period the Borrower performed and observed all its Obligations under the Loan Documents, and

 

[select one:]

 

[to the knowledge of the undersigned during such fiscal period, the Borrower performed and observed each covenant and condition of the Loan Documents applicable to it.]

 

—or—

 

 

[the following covenants or conditions have not been performed or observed and the following is a list of each such Default and its nature and status:]

 

4.                                      The representations and warranties of the Borrower contained in Article V of the Agreement, and any representations and warranties of the Borrower that are contained in any document furnished by Borrower to the Administrative Agent or Lenders at any time under or in connection with the Loan Documents, are true and correct in all material respects on and as of the date hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they are true and correct as of such earlier date.

 

5.                                      The financial covenant analyses and information set forth on Schedule 2 attached hereto are true and accurate on and as of the date of this Certificate.

 

IN WITNESS WHEREOF, the undersigned has executed this Certificate as of                 ,201    .

 

	
 
    	
MARKWEST ENERGY PARTNERS, L.P.
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
MarkWest Energy GP, L.L.C., its   general partner
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
Title:
    	
 
    

 

FOURTH AMENDMENT TO MARKWEST ENERGY PARTNERS
 AMENDED AND RESTATED CREDIT AGREEMENT

 

2

 

For the Quarter/Year ended

                             (“Statement Date”)

 

SCHEDULE 2

to the Compliance Certificate

($ in 000’s)

 

	
I.     Section 7.04 —   Indebtedness
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
1.
    	
Outstanding   Principal Amount of Indebtedness in respect of purchase money obligations or   Capital Leases for fixed or capital assets permitted by Section 7.04(e) (may   not exceed $50,000,000)
    	
 
    	
 
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
2.
    	
Other   unsecured Indebtedness not to exceed $30,000,000 and any refinancing thereof   permitted by Section 7.04(f)
    	
 
    	
 
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
After   giving effect to the incurrence of any of the foregoing Indebtedness did any   Default or Event of Default exist?
    	
 
    	
 
    	
 
    	
Yes/No
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
II.    Section 7.15(a) —   Interest Coverage Ratio.
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
A.
    	
Adjusted   Consolidated EBITDA for four consecutive fiscal quarters ending on the   Statement Date (“Subject   Period”) (see Credit Agreement definition of “Consolidated EBITDA”   and “Adjusted Consolidated EBITDA”)   (Line II.A.1a + Line II.A.1b):
    	
 
    	
 
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
1a.
    	
Consolidated   EBITDA for the Subject Period
    	
 
    	
 
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
1b.
    	
Material   Project Consolidated EBITDA Adjustments as determined pursuant to Section 7.15(e)
    	
 
    	
 
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
2.
    	
Pro   forma adjustments to EBITDA for acquisitions or investments during the   Subject Period,  giving effect   to such acquisitions or investments on a pro forma basis for the Subject   Period as if such acquisitions or investments occurred on the first day of   the Subject Period:
    	
 
    	
 
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
3.
    	
Pro   forma adjustments to EBITDA for Dispositions during the Subject Period,  giving effect to such Disposition on a   pro forma basis for the Subject Period as if such Disposition occurred on the   first day of the Subject Period:
    	
 
    	
 
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
4.
    	
Adjusted   Consolidated EBITDA, including pro forma adjustments for acquisitions,   investments and Dispositions (Lines II.A plus II.A.2 minus II.A.3):
    	
 
    	
 
    	
 
    	
$
    

 

3

 

	
 
    	
B.
    	
Consolidated   Interest Charges for Subject Period:
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
1.
    	
Consolidated   Interest Charges for the Subject Period:
    	
 
    	
 
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
2.
    	
Pro   forma adjustment for interest charges relating to acquisitions or investments   during the Subject Period (Section 7.15(d)(ii)):
    	
 
    	
 
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
3.
    	
Pro   forma adjustment for interest charges relating to Dispositions during the   Subject Period (Section   7.15(d)(iii)):
    	
 
    	
 
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
4.
    	
Consolidated   Interest Charges, including pro forma adjustments (Lines II.B.1 plus II.B.2   minus II.B.3):
    	
 
    	
 
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
C.
    	
Interest   Coverage Ratio:
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
1.
    	
Adjusted   Consolidated EBITDA adjusted for acquisitions, investments and Dispositions   (Line II.A.4):
    	
 
    	
 
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
2.
    	
Consolidated   Interest Charges adjusted for acquisitions, investments and Dispositions   (Line II.B.4):
    	
 
    	
 
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
3.
    	
Imputed   interest charges on Synthetic Lease of the Borrower and its Subsidiaries for   Subject Period:
    	
 
    	
 
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
4.
    	
Interest   Coverage Ratio (Line II.C.1 divided by the sum of (Lines II.C.2   plus II.C.3)):
    	
 
    	
 
    	
 
    	
to   1.0
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Minimum required: 2.75 to 1.0 
    	
 
    	
 
    	
 
    	
Yes/No
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
As a condition precedent to the Borrower’s   designation of a Subsidiary as an Excluded Venture pursuant to Section 1.08(b) minimum   required: 3.25 to 1.0 
    	
 
    	
 
    	
 
    	
Yes/No
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
As a condition precedent to the Borrower making an   Investment pursuant to Section   7.02(i) minimum required: 3.25 to 1.0
    	
 
    	
 
    	
 
    	
Yes/No
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
As a condition precedent to the Borrower using   proceeds of an Extension of Credit pursuant to Section 6.12(g) to finance a Qualifying   6.875% Senior Note Refinancing minimum   required: 3.25 to 1.0
    	
 
    	
 
    	
 
    	
Yes/No
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
III.  Section 7.15(b) —   Total Leverage Ratio
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
A.
    	
Consolidated   Funded Debt (see Credit Agreement definition of “Consolidated Funded Debt”):
    	
 
    	
 
    	
 
    	
$
    

 

4

 

	
 
    	
B.
    	
Adjusted   Consolidated EBITDA (including pro forma adjustments for acquisitions,   investments and Dispositions) (Line II.A.5 above):
    	
 
    	
 
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
C.
    	
Total   Leverage Ratio (Line III.A ÷ by III.B):
    	
 
    	
 
    	
 
    	
to   1.0
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Maximum permitted: 5.50 to 1.0 for Subject Periods through and including December 31, 2013 and 5.25 to 1.0 thereafter
    	
 
    	
 
    	
 
    	
Yes/No
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
As a condition precedent to the Borrower’s   designation of a Subsidiary as an Excluded Venture pursuant to Section 1.08(b) maximum   permitted: 4.75 to 1.0
    	
 
    	
 
    	
 
    	
Yes/No
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
As a condition precedent to the Borrower making an   Investment pursuant to   Section 7.02(i) maximum required: 4.75 to 1.0
    	
 
    	
 
    	
 
    	
Yes/No
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
As a condition precedent to the Borrower using   proceeds of an Extension of Credit pursuant to Section 6.12(g) to finance a Qualifying   6.875% Senior Note Refinancing maximum   required: 4.75 to 1.0
    	
 
    	
 
    	
 
    	
Yes/No
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
IV.  Section 7.15(c) —   Senior Leverage Ratio
    
	
 
    
	
 
    	
A.
    	
Consolidated   Senior Debt (see Credit Agreement definition of “Consolidated Senior Debt”):
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
B.
    	
Adjusted   Consolidated EBITDA (including pro forma adjustments for acquisitions,   investments and Dispositions) (Line II.A.4 above):
    	
 
    	
 
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
C.
    	
Senior   Leverage Ratio (Line IV.A ÷ IV.B):
    	
 
    	
 
    	
 
    	
to   1.0
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
Maximum permitted: 3.25 to 1.0
    	
 
    	
 
    	
 
    	
Yes/No
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
As a condition precedent to the Borrower’s   designation of a Subsidiary as an Excluded Venture pursuant to Section 1.08(b) maximum   permitted: 2.75 to 1.0
    	
 
    	
 
    	
 
    	
Yes/No
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
As a condition precedent to the Borrower making an   Investment pursuant to   Section 7.02(i) maximum required: 2.75 to 1.0
    	
 
    	
 
    	
 
    	
Yes/No
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
As a condition precedent to the Borrower using   proceeds of an Extension of Credit pursuant to Section 6.12(g) to finance a Qualifying 6.875%   Senior Note Refinancing maximum required:   2.75 to 1.0
    	
 
    	
 
    	
 
    	
Yes/No
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
V.
    	
 
    	
Calculation   of Compliance with Sections   7.07(c) and Section 2.08  (Dispositions and Mandatory Prepayments)
    	
 
    	
 
    	
 
    	
 
    

 

5

 

	
 
    	
A.
    	
Section 2.08  and Section 7.07(c): Attach a report   showing each Insurance Payment received during the preceding three fiscal   quarters ending on the Statement Date. Attach a report showing for each   Disposition of property for fair market value for cash during the three   fiscal quarters ending on the Statement Date. For each such Insurance   Payment or Disposition show:
    	
 
    	
 
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
1.
    	
The   date that Net Cash Proceeds from such Insurance Payment or Disposition were   received (the “Receipt   Date”).
    	
 
    	
 
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
2.
    	
The   amount of Net Cash Proceeds received from such Insurance Payment or   Dispositions.
    	
 
    	
 
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
3.
    	
The   total amount of Net Cash Proceeds from Insurance Payments and Dispositions   for fair market value for cash during the period from the Effective Date to   such Receipt Date.
    	
 
    	
 
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
4.
    	
The   value of 10% of the Borrower’s consolidated assets as of the end of the   fiscal quarter immediately prior to such Receipt Date and including   Borrower’s proportionate share of assets of Excluded Ventures (this is the “Threshold Amount”;   see Credit Agreement definition of “Triggering Sale”).
    	
 
    	
 
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
5.
    	
The   total amount of Net Cash Proceeds from Insurance Payments and Dispositions as   of the Receipt Date minus the Threshold Amount (referred to herein as the “Excess Amount”) (Line V A.3 —   V.A.4).
    	
 
    	
 
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
6.
    	
If   the Excess Amount in Line V.A.5 is a positive number, have the Net Cash   Proceeds of such Insurance Payment and/or Disposition been Reinvested? If so,   give amounts and date(s) of Reinvestment. In not, have 180 days passed   since the Receipt Date for such Insurance Payment or Disposition?
    	
 
    	
 
    	
 
    	
Yes/No
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
7.
    	
If   any portion of the Excess Amount in Line V.A.5 has not been reinvested within   180 days of the Receipt Date specify amount not Reinvested (this is the “Reduction Amount”).
    	
 
    	
$
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
8.
    	
Amount   of Loans to be prepaid (Line V.A.8).
    	
 
    	
$
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
9.
    	
The   value of 15% of the Borrower’s consolidated assets as of the end of the   fiscal quarter immediately prior to such Receipt Date and including   Borrower’s proportionate share of assets of Excluded Ventures
    	
 
    	
 
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
10.
    	
Is   Borrower in compliance with financial covenants in Section 7.15   on a pro forma basis taking such Triggering Sale (or the events giving rise   to the Triggering Sale) into account?
    	
 
    	
 
    	
 
    	
Yes/No
    

 

6

 

	
 
    	
11.
    	
Are   the Net Cash Proceeds (Line V A.3) greater than the value of 15% of the   Borrower’s consolidated assets as of the end of the fiscal quarter   immediately prior to such Receipt Date and including Borrower’s proportionate   share of assets of Excluded Ventures (Line V A.9)?
    	
 
    	
 
    	
 
    	
Yes/No
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
12.
    	
To   be calculated only if the answer to Line V A.10 is no AND the answer to Line   V A.11 is yes: amount of Commitment reduction pursuant to Section 2.09(c)
    	
 
    	
 
    	
 
    	
$
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
VI.
    	
 
    	
Reporting   and Delivery Obligations Pursuant to the Pledge and Security Agreement
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
1.
    	
Did   any Loan Party relocate its principal place of business or chief executive   office or relocate the place where its books and records concerning its   accounts are kept, in each case, to a location not described on Annex A to the   Pledge and Security Agreement?
    	
 
    	
 
    	
 
    	
Yes/No
    
	
 
    	
 
    	
If   yes, provide information.
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
2.
    	
Did   any Loan Party acquire any chattel paper, instruments or Other Collateral   Notes, each with an individual value in excess of $1,000,000 or certificated   Equity Interest (with appropriate stock powers or other instruments of   transfer executed in blank)?
    	
 
    	
 
    	
 
    	
Yes/No
    
	
 
    	
 
    	
If   yes, please deliver to the Administrative Agent such chattel paper,   instruments or Other Collateral Notes, each with an individual value in   excess of $1,000,000 (with appropriate endorsements or instruments of   transfer) or certificated Equity Interest (in the case of Equity Interests   that will be Other Pledged Securities (as defined in the Pledge and Security   Agreement) with an individual value in excess of $1,000,000) (with appropriate   stock powers or other instruments of transfer executed in blank).
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
3.
    	
Did   any Loan Party acquire any Collateral consisting of (i) additional   uncertificated Equity Interests in Subsidiaries or Excluded Ventures,   (ii) uncertificated Pledged Securities with an individual value in   excess of $1,000,000 or (iii) letter-of-credit rights with an individual   face amount in excess of $1,000,000 and a remaining term of at least six   (6) months?
    	
 
    	
 
    	
 
    	
Yes/No
    
	
 
    	
 
    	
If   yes, please describe.
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
4.
    	
Did   any Loan Party obtain Rights to or become entitled to the benefit of any   material issued Patents, Patent applications, registered Trademarks,   Trademark applications, registered Copyrights, and Copyright applications not   identified on Annex B-2 to the Pledge and   Security Agreement (all terms in this Line VI 4 have the meanings set forth   in the Pledge and Security Agreement).
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
5.
    	
Did   any Loan Party acquire any certificates of title for any Vehicles or other   Collateral, each with an individual value in excess of $150,000?
    	
 
    	
 
    	
 
    	
Yes/No
    
	
 
    	
 
    	
If   yes, if requested by the Administrative Agent, please deliver to the   Administrative Agent such certificates of title so that the Security Interest   may be properly noted thereon.
    	
 
    	
 
    	
 
    	
 
    

 

7

 

	
 
    	
6.
    	
Did   any Loan Party establish any Deposit Accounts in which average monthly   balances in excess of $1,000,000 are maintained since delivery of the last   Compliance Certificate?.
    	
 
    	
 
    	
 
    	
Yes/No
    
	
 
    	
 
    	
If   yes, please identify the depository and the account name and number and   advise the Administrative Agent that Annex B-1 to the Security Agreement   needs to be updated.
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
[END   OF SCHEDULE 2]
    	
 
    	
 
    	
 
    	
 
    

 

8

 

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

 

	
 
    	
MARKWEST   ENERGY PARTNERS, L.P.
    
	
 
    	
 
    
	
 
    	
By:     MarkWest Energy GP, L.L.C., its general partner
    
	
 
    	
 
    
	
 
    	
By:
    	
/s/   NANCY K. BUESE
    
	
 
    	
 
    	
Nancy K. Buese
    
	
 
    	
 
    	
Senior Vice President & Chief Financial   Officer
    

 

FOURTH AMENDMENT TO MARKWEST ENERGY PARTNERS

AMENDED AND RESTATED CREDIT AGREEMENT

 

SIGNATURE  PAGE

 

1

 

	
 
    	
WELLS   FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   ANDREW OSTROV
    
	
 
    	
 
    	
Name:   Andrew Ostrov
    
	
 
    	
 
    	
Title:   Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
WELLS   FARGO BANK, NATIONAL ASSOCIATION, as a   Lender, Issuing Bank and Swingline Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   ANDREW OSTROV
    
	
 
    	
 
    	
Name:   Andrew Ostrov
    
	
 
    	
 
    	
Title:   Director
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
ROYAL   BANK OF CANADA, as Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   CHRIS BENTON
    
	
 
    	
 
    	
Name:   Chris Benton
    
	
 
    	
 
    	
Title:   Authorized Signatory
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
COMPASS   BANK,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   JAMES NEBLETT
    
	
 
    	
Name:   James Neblett
    
	
 
    	
Title:   Vice President
    

 

FOURTH AMENDMENT TO MARKWEST ENERGY PARTNERS

AMENDED AND RESTATED CREDIT AGREEMENT

 

SIGNATURE  PAGE

 

2

 

	
 
    	
JPMORGAN   CHASE BANK, N.A.,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   STEPHANIE BALETTE
    
	
 
    	
Name:   Stephanie Balette
    
	
 
    	
Title:   Authorized Officer
    
	
 
    	
 
    
	
 
    	
MORGAN   STANLEY BANK, N.A.
    
	
 
    	
as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   WILLIAM JONES
    
	
 
    	
Name:   William Jones
    
	
 
    	
Title:   Authorized Signatory
    
	
 
    	
 
    
	
 
    	
U.S.   BANK NATIONAL ASSOCIATION,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   JUSTIN M. ALEXANDER
    
	
 
    	
Name:   Justin M. Alexander
    
	
 
    	
Title:   Senior Vice President
    
	
 
    	
 
    
	
 
    	
BANK   OF AMERICA, N.A.,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   ADAM H. FEY
    
	
 
    	
Name:   Adam H. Fey
    
	
 
    	
Title:   Director
    
	
 
    	
 
    
	
 
    	
BARCLAYS   BANK PLC,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   SREEDHAR R. KONA
    
	
 
    	
Name:   Sreedhar R. Kona
    
	
 
    	
Title:   Assistant Vice President
    

 

FOURTH AMENDMENT TO MARKWEST ENERGY PARTNERS

AMENDED AND RESTATED CREDIT AGREEMENT

 

SIGNATURE  PAGE

 

3

 

	
 
    	
SUNTRUST   BANK,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   CARMEN MALIZIA
    
	
 
    	
Name:   Carmen Malizia
    
	
 
    	
Title:   Vice President
    
	
 
    	
 
    
	
 
    	
UBS   LOAN FINANCE LLC,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   LANA GIFAS
    
	
 
    	
Name:   Lana Gifas
    
	
 
    	
Title:   Director
    
	
 
    	
 
    
	
 
    	
CAPITAL   ONE, N.A.,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   WESLEY FONTANA
    
	
 
    	
Name:   Wesley Fontana
    
	
 
    	
Title:   Vice President
    
	
 
    	
 
    
	
 
    	
COMERICA   BANK,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   EKATERINA EVSEEV
    
	
 
    	
Name:   Ekaterina Evseev
    
	
 
    	
Title:   Assistant Vice President
    
	
 
    	
 
    
	
 
    	
NATIXIS,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   LOUIS P. LAVILLE, III
    
	
 
    	
Name:   Louis P. Laville, III
    
	
 
    	
Title:   Managing Director
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   DANIEL PAYER
    
	
 
    	
Name:   Daniel Payer
    
	
 
    	
Title:   Managing Director
    
	
 
    	
 
    
	
 
    	
SUMITOMO   MITSUI BANKING CORPORATION,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
 
    
	
 
    	
Name:
    
	
 
    	
Title:
    

 

FOURTH AMENDMENT TO MARKWEST ENERGY PARTNERS

AMENDED AND RESTATED CREDIT AGREEMENT

 

SIGNATURE  PAGE

 

4

 

	
 
    	
CREDIT   SUISSE, CAYMAN ISLANDS BRANCH
    
	
 
    	
as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   NUPUR KUMAR
    
	
 
    	
Name:   Nupur Kumar
    
	
 
    	
Title:   Vice President
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   MICHAEL SPAIGHT
    
	
 
    	
Name:   Michael Spaight
    
	
 
    	
Title:   Associate
    
	
 
    	
 
    
	
 
    	
GOLDMAN   SACHS BANK USA
    
	
 
    	
as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   MICHELLE LATZONI
    
	
 
    	
Name:   Michelle Latzoni
    
	
 
    	
Title:   Authorized Signatory
    
	
 
    	
 
    
	
 
    	
CITIBANK,   N. A,
    
	
 
    	
as   a Lender
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   TODD MOGIL
    
	
 
    	
Name:   Todd Mogil
    
	
 
    	
Title:   Vice President
    

 

FOURTH AMENDMENT TO MARKWEST ENERGY PARTNERS

AMENDED AND RESTATED CREDIT AGREEMENT

 

SIGNATURE  PAGE

 

5

 

Fourth Amendment

 

CONSENT AND AGREEMENT

 

Each of the undersigned (in their individual capacity, each a “Guarantor”), as of the Fourth Amendment Effective Date hereby (i) consents to the provisions of this Amendment and the transactions contemplated herein, (ii) ratifies and confirms the Amended and Restated Guaranty dated as of July 1, 2010 made by it for the benefit of Administrative Agent and Lenders executed pursuant to the Existing Credit Agreement and the other Loan Documents, (iii) agrees that all of its respective obligations and covenants thereunder shall remain unimpaired by the execution and delivery of this Amendment and the other documents and instruments executed in connection herewith, and (iv) agrees that the Amended and Restated Guaranty and such other Loan Documents shall remain in full force and effect.

 

	
 
    	
MARKWEST   ENERGY FINANCE CORPORATION
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   NANCY K. BUESE
    
	
 
    	
 
    	
Nancy   K. Buese
    
	
 
    	
 
    	
Senior   Vice President & Chief Financial Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
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/   NANCY K. BUESE
    
	
 
    	
 
    	
Nancy   K. Buese
    
	
 
    	
 
    	
Senior   Vice President & Chief Financial Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
MARKWEST   HYDROCARBON, INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   NANCY K. BUESE
    
	
 
    	
 
    	
Nancy   K. Buese
    
	
 
    	
 
    	
Senior   Vice President & Chief Financial Officer
    

 

FOURTH AMENDMENT TO MARKWEST ENERGY PARTNERS

AMENDED AND RESTATED CREDIT AGREEMENT

 

CONSENT AND AGREEMENT

 

1

 

	
 
    	
MARKWEST   ENERGY GP, L.L.C.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   NANCY K. BUESE
    
	
 
    	
 
    	
Nancy   K. Buese
    
	
 
    	
 
    	
Senior   Vice President & Chief Financial Officer
    
	
 
    	
 
    
	
 
    	
MASON   PIPELINE LIMITED LIABILITY COMPANY
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
MarkWest   Hydrocarbon, Inc.,
    
	
 
    	
 
    	
its   sole Member
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   NANCY K. BUESE
    
	
 
    	
 
    	
Nancy   K. Buese
    
	
 
    	
 
    	
Senior   Vice President & Chief Financial Officer
    
	
 
    	
 
    
	
 
    	
WEST   SHORE PROCESSING COMPANY, L.L.C.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
MarkWest   Energy Operating Company, L.L.C.,
    
	
 
    	
 
    	
its   sole Member and Manager
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
MarkWest   Energy Partners, L.P.
    
	
 
    	
 
    	
its   Managing Member
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
MarkWest   Energy GP, L.L.C.,
    
	
 
    	
 
    	
its   General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   NANCY K. BUESE
    
	
 
    	
 
    	
Nancy   K. Buese
    
	
 
    	
 
    	
Senior   Vice President & Chief Financial Officer
    
	
 
    	
 
    
	
 
    	
MARKWEST   MICHIGAN PIPELINE COMPANY, L.L.C.
    
	
 
    	
MARKWEST   OKLAHOMA GAS COMPANY, L.L.C.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
MarkWest   Energy Operating Company, L.L.C.,
    
	
 
    	
 
    	
its   Managing Manager
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
MarkWest   Energy Partners, L.P.
    
	
 
    	
 
    	
its   Managing Member
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
MarkWest   Energy GP, L.L.C.,
    
	
 
    	
 
    	
its   General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/   NANCY K. BUESE
    
	
 
    	
 
    	
Nancy   K. Buese
    
	
 
    	
 
    	
Senior   Vice President & Chief Financial Officer
    
	
 
    	
 
    
	
 
    	
MARKWEST   ENERGY APPALACHIA, L.L.C.
    

 

FOURTH AMENDMENT TO MARKWEST ENERGY PARTNERS

AMENDED AND RESTATED CREDIT AGREEMENT

 

CONSENT AND AGREEMENT

 

2

 

	
 
    	
MARKWEST   GAS SERVICES, L.L.C.
    
	
 
    	
MARKWEST   POWER TEX, L.L.C.
    
	
 
    	
MARKWEST   PINNACLE, L.L.C.
    
	
 
    	
MARKWEST   PNG UTILITY, L.L.C.
    
	
 
    	
MARKWEST   TEXAS PNG UTILITY, L.L.C.
    
	
 
    	
MARKWEST   BLACKHAWK, L.L.C.
    
	
 
    	
MARKWEST   NEW MEXICO, L.L.C.
    
	
 
    	
MARKWEST   ENERGY EAST TEXAS
    
	
 
    	
GAS COMPANY, L.L.C.
    
	
 
    	
MARKWEST   PIPELINE COMPANY, L.L.C.
    
	
 
    	
MARKWEST   JAVELINA COMPANY, L.L.C.
    
	
 
    	
MARKWEST   JAVELINA PIPELINE COMPANY, L.L.C.
    
	
 
    	
MARKWEST   LIBERTY GAS GATHERING, L.L.C.
    
	
 
    	
MARKWEST   GAS MARKETING, L.L.C.
    
	
 
    	
MARKWEST   MARKETING, L.L.C.
    
	
 
    	
MARKWEST   MOUNTAINEER PIPELINE COMPANY, L.L.C.
    
	
 
    	
MARKWEST   UTICA OPERATING COMPANY, L.L.C.
    
	
 
    	
MARKWEST   LUFKIN PIPELINE COMPANY, L.L.C.
    
	
 
    	
MARKWEST   TEXAS LPG PIPELINE, L.L.C.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
MarkWest   Energy Operating Company, L.L.C.,
    
	
 
    	
 
    	
its   sole Member
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
MarkWest   Energy Partners, L.P.
    
	
 
    	
 
    	
its   Managing Member
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
MarkWest   Energy GP, L.L.C.,
    
	
 
    	
 
    	
its   General Partner
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   NANCY K. BUESE
    
	
 
    	
 
    	
 
    	
Nancy   K. Buese
    
	
 
    	
 
    	
 
    	
Senior   Vice President & Chief Financial Officer
    

 

FOURTH AMENDMENT TO MARKWEST ENERGY PARTNERS

AMENDED AND RESTATED CREDIT AGREEMENT

 

CONSENT AND AGREEMENT

 

3

 

	
 
    	
MATREX   L.L.C.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
West   Shore Processing Company, L.L.C.,
    
	
 
    	
 
    	
its   sole Member and Manager
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
MarkWest   Energy Operating Company, L.L.C.,
    
	
 
    	
 
    	
its   sole Member and Manager
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
MarkWest   Energy Partners, L.P.
    
	
 
    	
 
    	
its   Managing Member
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
MarkWest   Energy GP, L.L.C.,
    
	
 
    	
 
    	
its   General Partner
    
	
 
    	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   NANCY K. BUESE
    
	
 
    	
 
    	
 
    	
Nancy   K. Buese
    
	
 
    	
 
    	
 
    	
Senior   Vice President & Chief Financial Officer
    

 

FOURTH AMENDMENT TO MARKWEST ENERGY PARTNERS

AMENDED AND RESTATED CREDIT AGREEMENT

 

CONSENT AND AGREEMENT

 

4

 

	
 
    	
MARKWEST   MCALESTER, L.L.C.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
MarkWest   Oklahoma Gas Company, L.L.C.,
    
	
 
    	
 
    	
its   sole Member
    
	
 
    	
 
    	
 
    
	
 
    	
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/   NANCY K. BUESE
    
	
 
    	
 
    	
 
    	
Nancy   K. Buese
    
	
 
    	
 
    	
 
    	
Senior   Vice President & Chief Financial Officer
    
	
 
    	
 
    	
 
    
	
 
    	
MARKWEST   RANGER PIPELINE COMPANY, L.L.C.
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
MarkWest   Energy Appalachia, L.L.C.,
    
	
 
    	
 
    	
its   sole Member
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
MarkWest   Energy Operating Company, L.L.C.,
    
	
 
    	
 
    	
its   sole Member
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
MarkWest   Energy Partners, L.P.
    
	
 
    	
 
    	
its   Managing Member
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
MarkWest   Energy GP, L.L.C.,
    
	
 
    	
 
    	
its   General Partner
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
By:
    	
/s/   NANCY K. BUESE
    
	
 
    	
 
    	
 
    	
Nancy   K. Buese
    
	
 
    	
 
    	
 
    	
Senior   Vice President & Chief Financial Officer
    

 

FOURTH AMENDMENT TO MARKWEST ENERGY PARTNERS

AMENDED AND RESTATED CREDIT AGREEMENT

 

CONSENT AND AGREEMENT

 

5

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