Document:

Exhibit 10.1

 Exhibit 10.1 

SUPPORT AGREEMENT 
 THIS
SUPPORT AGREEMENT, dated as of June 18, 2018 (this “Agreement”), is entered into by and between Cheniere Energy Partners LP Holdings, LLC, a Delaware limited liability company (the “Company”), and Cheniere
Energy, Inc., a Delaware corporation (“Parent”, and together with the Company, the “Parties” and each, a “Party”). 

RECITALS 
 WHEREAS, concurrently
herewith, Parent, Columbia Acquisition Sub LLC, a Delaware limited liability company and a wholly owned subsidiary of Parent (“Merger Sub”), and the Company are entering into an Agreement and Plan of Merger (as it may be amended
from time to time, the “Merger Agreement”), pursuant to which (and subject to the terms and conditions set forth therein) the Company will be merged with and into Merger Sub, with Merger Sub as the sole surviving entity (the
“Merger”); 
 WHEREAS, as of the date hereof, Parent is the Record Holder and beneficial owner in the aggregate of, and has
the right to vote and dispose of, the number of Company Common Shares set forth opposite Parent’s name on Schedule A hereto (the “Existing Shares”); and 

WHEREAS, as a condition and inducement to the Company’s willingness to enter into the Merger Agreement and to proceed with the
transactions contemplated thereby, including the Merger, the Company and Parent are entering into this Agreement. 
 NOW, THEREFORE, in
consideration of the foregoing and the mutual covenants and agreements herein contained, and intending to be legally bound hereby, the Company and Parent hereby agree as follows: 

AGREEMENT 

1.    Defined Terms. The following capitalized terms, as used in this Agreement, shall have the meanings set forth
below. Capitalized terms used but not defined in this Agreement shall have the meanings ascribed to them in the Merger Agreement. 
 “Business
Day” means any day ending at 11:59 p.m. (Eastern Time) other than a Saturday or Sunday or a day on which banks are required or authorized to close in the City of New York or a day on which the Secretary of State of the State of
Delaware is required, or authorized, to close. 
 “Covered Shares” means, with respect to Parent, Parent’s Existing Shares, together
with any Company Common Shares that Parent becomes the Record Holder or beneficial owner of on or after the date hereof. 
 “Company” has
the meaning set forth in the Preamble. 
 “Company Common Share” means a common share of the Company representing limited liability company
interests in the Company. 

  
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 “Company LLC Agreement” means the Amended and Restated Limited Liability Company Agreement of
the Company, dated as of December 13, 2013, as amended. 
 “Existing Shares” has the meaning set forth in the Recitals. 

“Member” has the meaning ascribed thereto in the Company LLC Agreement. 

“Merger” has the meaning set forth in the Recitals. 

“Merger Agreement” has the meaning set forth in the Recitals. 

“Merger Sub” has the meaning set forth in the Recitals. 

“Parent” has the meaning set forth in the Preamble. 

“Proxy Designee” means a Person designated by the Board of Directors of the Company by written notice to each of the Parties, which notice
may simultaneously revoke the designation of any Person as a Proxy Designee. 
 “Record Holder” has the meaning ascribed thereto in the
Company LLC Agreement. 
 “Termination Date” has the meaning set forth in Section 5 of this Agreement. 

“Transfer” means, directly or indirectly, to sell, transfer, assign, pledge, encumber or similarly dispose of (by merger (including by
conversion into securities or other consideration), by tendering into any tender or exchange offer, by testamentary disposition, by operation of law or otherwise), either voluntarily or involuntarily, or to enter into any contract, option or other
arrangement or understanding with respect to the voting of or sale, transfer, assignment, pledge, encumbrance or similar disposition of (by merger, by tendering into any tender or exchange offer, by testamentary disposition, by operation of law or
otherwise). 
 “Voting Share” has the meaning ascribed thereto in the Company LLC Agreement. 

2.    Agreement to Deliver Written Consent. Prior to the Termination Date, Parent irrevocably and unconditionally
agrees that it shall (a) within two (2) Business Days after the Registration Statement becomes effective under the Securities Act (but, for the avoidance of doubt, not until such Registration Statement becomes effective), execute and
deliver (or cause to be executed and delivered) a written consent pursuant to Section 11.10 of the Company LLC Agreement covering all of the Covered Shares approving the Merger, the Merger Agreement and any other matters necessary for
consummation of the Merger and the other transactions contemplated by the Merger Agreement and (b) at any meeting of the Members of the Company (whether annual or special and whether or not an adjourned or postponed meeting), however called,
appear at such meeting or otherwise cause the Covered Shares to be counted as present thereat for purpose of establishing a quorum and vote (or consent), or cause to be voted at such meeting (or validly execute and return and cause such consent to
be granted with respect to), all Covered Shares (i) in favor of the Merger, the Merger Agreement and any other matter necessary for the consummation of the transactions contemplated by the Merger Agreement, including the Merger, and
(ii) against (A) any action or agreement that would result in a breach of any 

  
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covenant, representation or warranty or any other obligation or agreement of the Company or any of its Subsidiaries contained in the Merger Agreement and (B) any other action that could
reasonably be expected to impede, interfere with, delay, postpone or adversely affect the Merger or any of the transactions contemplated by the Merger Agreement or this Agreement. If Parent is the beneficial owner, but not the Record Holder, of any
Covered Shares, Parent agrees to take all actions necessary to cause the Record Holder and any nominees to vote (or exercise a consent with respect to) all of such Covered Shares in accordance with this Section 2. Except as otherwise set forth
in or contemplated by this Agreement, Parent may vote the Covered Shares in its discretion on all matters submitted for the vote of the Members or in connection with any written consent of the Members in a manner that is not inconsistent with the
terms of this Agreement. 
 3.    Grant of Irrevocable Proxy; Appointment of Proxy. 

(a)    FROM AND AFTER THE DATE HEREOF UNTIL THE TERMINATION DATE, PARENT HEREBY IRREVOCABLY AND UNCONDITIONALLY GRANTS TO,
AND APPOINTS, JIM DEIDIKER, AND ANY OTHER PROXY DESIGNEE (AS DEFINED ABOVE), EACH OF THEM INDIVIDUALLY, PARENT’S PROXY AND ATTORNEY-IN-FACT (WITH FULL POWER OF
SUBSTITUTION) TO VOTE (OR EXERCISE A WRITTEN CONSENT WITH RESPECT TO) THE COVERED SHARES SOLELY IN ACCORDANCE WITH SECTION 2. THIS PROXY IS IRREVOCABLE (UNTIL THE TERMINATION DATE AND EXCEPT AS TO ANY PROXY DESIGNEE WHOSE DESIGNATION AS A PROXY
DESIGNEE IS REVOKED BY THE BOARD OF DIRECTORS OF THE COMPANY) AND COUPLED WITH AN INTEREST AND PARENT WILL TAKE SUCH FURTHER ACTION OR EXECUTE SUCH OTHER INSTRUMENTS AS MAY BE NECESSARY TO EFFECTUATE THE INTENT OF THIS PROXY AND HEREBY REVOKES ANY
OTHER PROXY PREVIOUSLY GRANTED BY PARENT WITH RESPECT TO THE COVERED SHARES (AND PARENT HEREBY REPRESENTS TO THE COMPANY THAT ANY SUCH OTHER PROXY IS REVOCABLE). 

(b)    The proxy granted in this Section 3 shall automatically expire upon the termination of this Agreement in
accordance with Section 5. 
 4.    No Inconsistent Agreements. Parent hereby represents,
covenants and agrees that, except as contemplated by this Agreement, it (a) has not entered into, and shall not enter into at any time prior to the Termination Date, any voting agreement or voting trust with respect to any Covered Shares and
(b) has not granted, and shall not grant at any time prior to the Termination Date, a proxy or power of attorney with respect to any Covered Shares. 

5.    Termination. This Agreement shall terminate upon the earliest of (a) the Effective Time, (b) the
termination of the Merger Agreement in accordance with its terms and (c) the mutual written agreement of the Parties to terminate this Agreement (such earliest date being referred to herein as the “Termination Date”);
provided that the provisions set forth in Sections 11 to 20 shall survive the termination of this Agreement; provided further that any liability incurred by any Party as a result of a breach of a term or condition of this
Agreement prior to such termination shall survive the termination of this Agreement. 

  
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 6.    Representations and Warranties of Parent. Parent hereby
represents and warrants to the Company as follows: 
 (a)    Parent is the Record Holder and beneficial owner of, and has
good and valid title to, the Existing Shares, free and clear of Liens other than as created by this Agreement. Parent has voting power, power of disposition, and power to agree to all of the matters set forth in this Agreement, in each case with
respect to all of such Covered Shares. As of the date hereof, other than the Existing Shares and the Voting Share, Parent is not the Record Holder and does not own beneficially any (i) shares or voting securities of the Company,
(ii) securities of the Company convertible into or exchangeable for shares or voting securities of the Company or (iii) options or other rights to acquire from the Company any shares, voting securities or securities convertible into or
exchangeable for shares or voting securities of the Company. The Existing Shares are not subject to any voting trust agreement or other contract to which Parent is a party restricting or otherwise relating to the voting or Transfer of the Covered
Shares. Parent has not appointed or granted any proxy or power of attorney that is still in effect with respect to any Existing Shares, except as contemplated by this Agreement. 

(b)    Parent is duly organized, validly existing as a corporation and in good standing under the laws of the State of
Delaware and has all requisite power and authority to execute and deliver this Agreement and to perform its obligations hereunder. The execution, delivery and performance of this Agreement by Parent, the performance by Parent of its obligations
hereunder and the consummation by Parent of the transactions contemplated hereby have been duly and validly authorized by Parent and no other actions or proceedings on the part of Parent are necessary to authorize the execution and delivery by
Parent of this Agreement, the performance by Parent of its obligations hereunder or the consummation by Parent of the transactions contemplated hereby. This Agreement has been duly and validly executed and delivered by Parent and, assuming due
authorization, execution and delivery by the Company, constitutes a legal, valid and binding obligation of Parent, enforceable against Parent in accordance with its terms, except as enforcement may be limited by applicable bankruptcy, insolvency,
reorganization, moratorium or similar laws affecting creditors’ rights generally and by general principles of equity (regardless of whether considered in a proceeding in equity or at law). 

(c)    (i) Except for the applicable requirements of the Exchange Act, no filing with, and no permit, authorization,
consent or approval of, any Governmental Entity is necessary on the part of Parent for the execution, delivery and performance of this Agreement by Parent or the consummation by Parent of the transactions contemplated hereby and (ii) neither
the execution, delivery or performance of this Agreement by Parent nor the consummation by Parent of the transactions contemplated hereby nor compliance by Parent with any of the provisions hereof shall (A) conflict with or violate, any
provision of the organizational documents of Parent, (B) result in any breach or violation of, or constitute a default (or an event which, with notice or lapse of time or both, would become a default) under, or give to others any rights of
termination, amendment, acceleration or cancellation of, or result in the creation of a Lien on such property or asset of Parent pursuant to, any contract to which Parent is a party or by which Parent or any property or asset of Parent is bound or
affected or (C) violate any order, writ, injunction, decree, statute, rule or regulation applicable to Parent or any of Parent’s properties or assets except, in the case of clause (B) or (C), for breaches, violations or defaults that
would not, individually or in the aggregate, impair the ability of Parent to perform its obligations hereunder. 

  
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 (d)    As of the date of this Agreement, there is no action, suit,
investigation, complaint or other proceeding pending against Parent or, to the knowledge of Parent, any other Person or, to the knowledge of Parent, threatened against Parent or any other Person that restricts or prohibits (or, if successful, would
restrict or prohibit) the exercise by the Company of its rights under this Agreement or the performance by any Party of its obligations under this Agreement. 

(e)    Parent understands and acknowledges that the Company is entering into the Merger Agreement in reliance upon
Parent’s execution and delivery of this Agreement and the representations and warranties of Parent contained herein. 

7.    Certain Covenants of Parent. Parent hereby covenants and agrees as follows, in each case except as otherwise
approved in writing by the Company: 
 (a)    Prior to the Termination Date, and except as contemplated hereby, Parent
shall not (i) Transfer, or enter into any contract, option, agreement or other arrangement or understanding with respect to the Transfer of any of the Covered Shares or beneficial ownership or voting power thereof or therein (including by
operation of law), (ii) grant any proxies or powers of attorney, deposit any Covered Shares into a voting trust or enter into a voting agreement with respect to any Covered Shares or (iii) knowingly take any action that would make any
representation or warranty of Parent contained herein untrue or incorrect or have the effect of preventing or disabling Parent from performing its obligations under this Agreement. Any Transfer in violation of this provision shall be void. 

(b)    Prior to the Termination Date, in the event that Parent becomes the Record Holder or acquires beneficial ownership
of, or the power to vote or direct the voting of, any additional Company Common Shares or other voting interests with respect to the Company, Parent will promptly notify the Company of such Company Common Shares or voting interests, such Company
Common Shares or voting interests shall, without further action of the Parties, be deemed Covered Shares and subject to the provisions of this Agreement, and the number of Company Common Shares held by Parent set forth on Schedule A hereto
will be deemed amended accordingly and such Company Common Shares or voting interests shall automatically become subject to the terms of this Agreement. 

8.    Parent Capacity. This Agreement is being entered into by Parent solely in its capacity as a holder of Company
Common Shares, and nothing in this Agreement shall restrict or limit the ability of Parent or any Affiliate or any employee thereof who is a director or officer of the Company to take any action in his or her capacity as a director or officer of the
Company to the extent specifically permitted by the Merger Agreement. 
 9.    Disclosure. Parent hereby
authorizes the Company to publish and disclose in any announcement or disclosure required by the SEC and in the Consent Statement/Prospectus Parent’s identity and ownership of the Covered Shares and the nature of Parent’s obligations under
this Agreement. 
 10.    Non-Survival of Representations and Warranties.
The representations and warranties of Parent contained herein shall not survive the closing of the transactions contemplated hereby and by the Merger Agreement. 

  
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 11.    Amendment and Modification. This Agreement may not be amended,
modified or supplemented in any manner, whether by course of conduct or otherwise, except by an instrument in writing specifically designated as an amendment hereto, signed on behalf of each Party; provided, however, that the Company
may not authorize any such amendment, modification or supplement unless it has first referred such action to the conflicts committee of the board of directors of the Company (the “Conflicts Committee”) for its consideration,
and permitted the Conflicts Committee not less than three (3) Business Days to make a recommendation to the Company with respect thereto (for the avoidance of doubt, the Company shall in no way be obligated to follow the recommendation of the
Conflicts Committee and the Company shall be permitted to take action following the expiration of such three (3) Business Day period). 

12.    Waiver. No failure or delay of any Party in exercising any right or remedy hereunder shall operate as a
waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such right or power, or any course of conduct, preclude any other or further exercise thereof or the
exercise of any other right or power. The rights and remedies of the Parties are cumulative and are not exclusive of any rights or remedies which they would otherwise have hereunder. Any agreement on the part of a Party to any such waiver shall be
valid only if set forth in a written instrument executed and delivered by such Party. 
 13.    Notices. Any
notice, request, instruction or other document to be given hereunder by any Party to the others shall be in writing and delivered personally or sent by registered or certified mail, postage prepaid, by facsimile, email or overnight courier: 

If to Parent: 
  

					
		 	 Cheniere Energy, Inc.
 700 Milam,
Suite 1900

		 	Houston, TX 77002
		 	Attn:	 	Sean N. Markowitz
		 	Fax:	 	(713) 375-6659
		 	Email:	 	sean.markowitz@cheniere.com
		
		 	With a copy to:
		
		 	 Sullivan & Cromwell LLP,

125 Broad Street, New York, NY 10004

		 	Attn:	 	Francis J. Aquila
		 		 	Krishna Veeraraghavan
		 	Fax:	 	(212) 558-3588
		 	Email:	 	aquilaf@sullcrom.com
		 		 	veeraraghavank@sullcrom.com

  
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 If to the Company: 

Cheniere Energy Partners LP Holdings, LLC 

700 Milam, Suite 1900 

			
	Houston, TX 77002
	Attn:	 	Sean N. Markowitz
	Fax:	 	(713) 375-6659
	Email:	 	sean.markowitz@cheniere.com
	
	With a copy to:
	
	Richards, Layton & Finger, P.A.
	One Rodney Square, 920 North King Street, Wilmington, DE 19801
	Attn:	 	Srinivas M. Raju
		 	Kenneth E. Jackman
	Fax:	 	(302) 498-7701
	Email:	 	raju@rlf.com
		 	jackman@rlf.com

 or to such other persons or addresses as may be designated in writing by the Party to receive such notice as
provided above. Any notice, request, instruction or other document given as provided above shall be deemed given to the receiving Party upon actual receipt, if delivered personally; three (3) Business Days after deposit in the mail, if sent by
registered or certified mail; upon confirmation of successful transmission if sent by facsimile or email (provided that if given by facsimile or email such notice, request, instruction or other document shall be followed up within one
(1) Business Day by dispatch pursuant to one of the other methods described herein); or on the next Business Day after deposit with an overnight courier, if sent by an overnight courier. 

14.    Entire Agreement. This Agreement (including any schedules hereto), the Merger Agreement and the Company
Disclosure Letter constitute the entire agreement and supersede all other prior agreements, understandings, representations and warranties both written and oral, among the Parties, with respect to the subject matter hereof. EACH PARTY HERETO AGREES
THAT, EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES CONTAINED IN THIS AGREEMENT OR THE MERGER AGREEMENT, NEITHER PARENT NOR THE COMPANY MAKES OR RELIES ON ANY OTHER REPRESENTATIONS, WARRANTIES OR INDUCEMENTS, AND EACH HEREBY DISCLAIMS ANY OTHER
REPRESENTATIONS, WARRANTIES OR INDUCEMENTS, EXPRESS OR IMPLIED, AS TO THE ACCURACY OR COMPLETENESS OF ANY OTHER INFORMATION, MADE BY, OR MADE AVAILABLE BY, ITSELF OR ANY OF ITS REPRESENTATIVES, WITH RESPECT TO, OR IN CONNECTION WITH, THE
NEGOTIATION, EXECUTION OR DELIVERY OF THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT, NOTWITHSTANDING THE DELIVERY OR DISCLOSURE TO THE OTHER OR THE OTHER’S REPRESENTATIVES OF ANY DOCUMENTATION OR OTHER INFORMATION WITH
RESPECT TO ANY ONE OR MORE OF THE FOREGOING. No Party shall be bound by, or be liable for, any alleged representation, promise, inducement or statement of intention not contained herein or in the Merger Agreement. 

  
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 15.    No Third-Party Beneficiaries. Nothing in this Agreement,
express or implied, is intended to or shall confer upon any Person other than the Parties and their respective successors and permitted assigns any legal or equitable right, benefit or remedy of any nature under or by reason of this Agreement, with
the exception of those rights conferred to the Conflicts Committee in Section 11. 
 16.    Counterparts.
This Agreement may be executed in any number of counterparts, each such counterpart being deemed to be an original instrument, and all such counterparts shall together constitute the same agreement. 

17.    GOVERNING LAW AND VENUE; WAIVER OF JURY TRIAL; SPECIFIC PERFORMANCE. 

(a)    THIS AGREEMENT SHALL BE DEEMED TO BE MADE IN AND IN ALL RESPECTS SHALL BE INTERPRETED, CONSTRUED AND GOVERNED BY AND
IN ACCORDANCE WITH THE LAW OF THE STATE OF DELAWARE WITHOUT REGARD TO THE CONFLICTS OF LAW PRINCIPLES THEREOF TO THE EXTENT THAT SUCH PRINCIPLES WOULD DIRECT A MATTER TO ANOTHER JURISDICTION. The Parties hereby irrevocably submit to the personal
jurisdiction of the Court of Chancery of the State of Delaware or, if such Court of Chancery shall lack subject matter jurisdiction, the federal courts of the United States of America located in the State of Delaware, solely in respect of the
interpretation and enforcement of the provisions of (and any claim or cause of action arising under or relating to) this Agreement and of the documents referred to in this Agreement, and in respect of the transactions contemplated by this Agreement,
and hereby waive, and agree not to assert, as a defense in any action, suit or proceeding for the interpretation or enforcement hereof or of any such document, that they are not subject thereto or that such action, suit or proceeding may not be
brought or is not maintainable in said courts or that the venue thereof may not be appropriate or that this Agreement or any such document may not be enforced in or by such courts, and the Parties irrevocably agree that all claims relating to such
action, proceeding or transactions shall be heard and determined in such courts. The Parties hereby consent to and grant any such court jurisdiction over the person of such Parties and, to the extent permitted by Law, over the subject matter of such
dispute and agree that mailing of process or other papers in connection with any such action or proceeding in the manner provided in Section 13 or in such other manner as may be permitted by Law shall be valid and sufficient service thereof.

 (b)    EACH PARTY ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO
INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE EACH SUCH PARTY HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT SUCH PARTY MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY ACTION OR PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF OR
RELATING TO THIS AGREEMENT, OR THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT. EACH PARTY CERTIFIES AND ACKNOWLEDGES THAT (i) NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER
PARTY WOULD NOT, IN THE EVENT OF ANY ACTION OR PROCEEDING, SEEK TO ENFORCE THE FOREGOING WAIVER, (ii) EACH PARTY UNDERSTANDS AND HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (iii) EACH PARTY

  
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MAKES THIS WAIVER VOLUNTARILY, AND (iv) EACH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 17. 

(c)    The Parties agree that irreparable damage would occur in the event that any of the provisions of this Agreement
were not performed in accordance with their specific terms or were otherwise breached. It is accordingly agreed that the Parties shall be entitled to an injunction or injunctions to prevent breaches of this Agreement and to enforce specifically the
terms and provisions of this Agreement in the Court of Chancery of the State of Delaware or, if said Court of Chancery shall lack subject matter jurisdiction, any federal court of the United States of America located in the County of New Castle,
Delaware, this being in addition to any other remedy to which such Party is entitled at law or in equity. In the event that any action is brought in equity to enforce the provisions of this Agreement, no Party shall allege, and each Party hereby
waives the defense or counterclaim, that there is an adequate remedy at law. Each Party further agrees that no other Party or any other Person shall be required to obtain, furnish or post any bond or similar instrument in connection with or as a
condition to obtaining any remedy referred to in this Section 17(c), and each Party irrevocably waives any right it may have to require the obtaining, furnishing or posting of any such bond or similar instrument. 

18.    Assignment; Successors. Neither this Agreement nor any of the rights, interests or obligations under this
Agreement may be assigned or delegated, in whole or in part, by operation of law or otherwise, by any Party without the prior written consent of all other Parties, and any such assignment without such prior written consent shall be null and void;
provided, however, that no assignment shall limit the assignor’s obligations hereunder. Subject to the preceding sentence, this Agreement will be binding upon, inure to the benefit of, and be enforceable by, the Parties and their
respective successors and assigns. 
 19.    Severability. The provisions of this Agreement shall be deemed
severable and the invalidity or unenforceability of any provision shall not affect the validity or enforceability of the other provisions hereof. If any provision of this Agreement, or the application of such provision to any Person or any
circumstance, is invalid or unenforceable, (a) a suitable and equitable provision shall be substituted therefor in order to carry out, so far as may be valid and enforceable, the intent and purpose of such invalid or unenforceable provision and
(b) the remainder of this Agreement and the application of such provision to other Persons or circumstances shall not be affected by such invalidity or unenforceability, nor shall such invalidity or unenforceability affect the validity or
enforceability of such provision, or the application of such provision, in any other jurisdiction. 
 20.    No
Presumption Against Drafting Party. The Parties have participated jointly in negotiating and drafting this Agreement. In the event that an ambiguity or a question of intent or interpretation arises, this Agreement shall be construed as if
drafted jointly by the Parties, and no presumption or burden of proof shall arise favoring or disfavoring any Party by virtue of the authorship of any provision of this Agreement. 

[The remainder of this page is intentionally left blank.] 

  
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 IN WITNESS WHEREOF, the Parties have caused to be executed or executed this Agreement as of the date first
written above. 
  

			
	 CHENIERE ENERGY PARTNERS LP

HOLDINGS, LLC

		
	By:	 	 /s/ Sean N. Markowitz

	Name:	 	Sean N. Markowitz
	Title:	 	 General Counsel and Corporate

Secretary

	
	CHENIERE ENERGY, INC.
		
	By:	 	 /s/ Michael J. Wortley

	Name:	 	Michael J. Wortley
	Title:	 	 Executive Vice President and
 Chief Financial
Officer

 [Signature Page to Support Agreement] 

 Schedule A 
  

			
	Cheniere Energy, Inc.    	 	212,953,991 Company Common SharesExhibit 10.1

 

EXECUTION VERSION

 

MEMBERSHIP INTEREST PURCHASE AGREEMENT

 

This Membership Interest Purchase Agreement (this “Agreement”), dated June 18, 2018, by and among VICI Properties Inc., a Maryland corporation (“VICI”), Riverview Merger Sub Inc., a Delaware corporation (“Merger Sub”, and together with VICI, the “VICI Parties” and each a “VICI Party”), Penn Tenant II, LLC, a Delaware limited liability company (“Operator”), and Penn National Gaming, Inc., a Pennsylvania corporation (“Penn Parent”, and together with Operator, the “PNG Parties” and each a “PNG Party”).  The VICI Parties and the PNG Parties are each sometimes referred to herein as a “Buyer Party” and together as the “Buyer Parties.”

 

RECITALS

 

WHEREAS, VICI, Merger Sub, Operator, Penn Parent, Bossier Casino Venture (HoldCo), Inc., a Delaware corporation (“HoldCo”), and Silver Slipper Gaming, LLC, a California limited liability company (“Stockholder Representative”) have entered into that certain Agreement and Plan of Merger, dated as of even date herewith (as amended from time to time, the “Merger Agreement”);

 

WHEREAS, capitalized terms used but not defined herein shall have the respective meanings given to them in the Merger Agreement;

 

WHEREAS, pursuant to the Merger Agreement, at the Effective Time, Merger Sub will merge with and into HoldCo, the separate corporate existence of Merger Sub will cease, and HoldCo will continue its corporate existence under the DGCL as the surviving corporation in the Merger and as a wholly-owned subsidiary of VICI (collectively, the “Merger”);

 

WHEREAS, HoldCo is, and will continue to be immediately following the consummation of the Merger, the direct owner of 100% of the outstanding capital stock of BCV (Intermediate) Inc., a Delaware corporation (“Intermediate”), which is, and will continue to be immediately following the consummation of the Merger, the direct owner of 100% of the capital stock of Bossier Casino Venture, Inc., a Louisiana corporation (“OpCo”);

 

WHEREAS, following the Effective Time, VICI intends to cause HoldCo to cause Intermediate to (i) convert from a Delaware corporation to a Delaware limited liability company pursuant to Delaware law, and (ii) cause OpCo to convert from a Louisiana corporation to a Louisiana limited liability company pursuant to Louisiana law (such transactions, the “Conversions”);

 

WHEREAS, following the Conversions, HoldCo will be the direct owner of 100% of the membership interests of Intermediate (the “Intermediate Membership Interests”) and Intermediate will be the direct owner of 100% of the membership interests of OpCo;

 

WHEREAS, immediately following the Conversions, VICI intends (i) to cause HoldCo to cause Intermediate to cause OpCo to distribute to Intermediate the Owned Real Property (which, for the avoidance of doubt, shall include the barge held by OpCo) and OpCo’s interest as tenant under the Ground Lease (regardless of whether any such asset is deemed to constitute “real estate”) (collectively, the “Real Property Assets”) and (ii) then to cause Intermediate to distribute to HoldCo all of the Real Property Assets (such transactions, the “Distributions”);

 

 

WHEREAS, immediately following the Distributions, HoldCo desires to sell to Operator, and Operator desires to purchase from HoldCo, the Intermediate Membership Interests subject to and in accordance with the terms of this Agreement (such purchase and sale, together with the Conversions and the Distributions, the “Restructuring Transactions”);

 

WHEREAS, the VICI Parties and the PNG Parties desire to set forth herein their mutual agreements and understandings with respect to the purchase and sale of the Intermediate Membership Interests.

 

NOW, THEREFORE, in consideration of the foregoing and the respective representations, warranties, covenants and agreements set forth herein, and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties, intending to be legally bound, agree as follows:

 

ARTICLE I
 RESTRUCTURING TRANSACTIONS

 

Section 1.1                                    Conversions.  Immediately following the Closing, VICI shall consummate the Conversions.

 

Section 1.2                                    Distributions.  Immediately following the Conversions, VICI shall consummate the Distributions.

 

Section 1.3                                    Sale of Intermediate Membership Interests.  Upon the terms and subject to the conditions set forth in this Agreement, at the Intermediate Closing (as defined below), in consideration of Operator’s funding of the Operator Purchase Price pursuant to the Merger Agreement, and the other mutual promises made by the VICI Parties and the PNG Parties therein and herein, immediately following the Distributions, VICI shall cause HoldCo to sell, assign, transfer and convey to Operator, and Operator shall purchase and acquire from HoldCo, all of HoldCo’s right, title, and interest in and to the Intermediate Membership Interests, free and clear of all Liens, other than any Permitted Liens.  For all purposes hereunder, “Permitted Liens” shall mean any liens existing on the Intermediate Membership Interests at the Effective Time or by virtue of any of the transactions contemplated by the Merger Agreement or this Agreement.

 

Section 1.4                                    Deliveries at Closing.

 

(a)                                 At or prior to the Intermediate Closing (as defined below), the VICI Parties and the PNG Parties shall cooperate to execute an amendment and restatement of Intermediate’s limited liability company agreement, which shall become effective upon the Intermediate Closing, to reflect Operator as the sole member and the owner of record of all of the Intermediate Membership Interests.

 

(b)                                 At the Intermediate Closing, HoldCo shall deliver to Operator the Intermediate Membership Interests duly endorsed for transfer and accompanied by an 

 

2

 

assignment of the Intermediate Membership Interests to Operator in the form of Exhibit A hereto, duly executed by HoldCo.

 

ARTICLE II
 CLOSING

 

Section 2.1                                    Closing. The closing of the sale and purchase of the Intermediate Membership Interests contemplated by this Agreement (the “Intermediate Closing”) shall take place remotely by electronic transmission of executed documents or at the offices of Kramer Levin Naftalis & Frankel LLP, 1177 Avenue of the Americas, New York, New York 10036, on the Closing Date immediately following the Conversions and the Distributions (the “Intermediate Closing Date”).

 

ARTICLE III
 REPRESENTATIONS AND WARRANTIES
 OF THE VICI PARTIES

 

The VICI Parties hereby jointly and severally represent and warrant to the PNG Parties, as of the date hereof and as of the Closing Date, and without giving effect to the Merger, as follows:

 

Section 3.1                                    Organization and Authority.  VICI is a Maryland corporation, and Merger Sub is a Delaware corporation, and each is duly organized, validly existing and in good standing under the Laws of the jurisdiction of its incorporation.  Each VICI Party has all requisite corporate power and authority to enter into and perform its obligations under this Agreement and to consummate the transactions contemplated hereby.  The execution, delivery and performance by each VICI Party of this Agreement and the consummation by each VICI Party of the transactions contemplated hereby have been duly authorized by all requisite corporate or other action on the part of such VICI Party and no other corporate or other proceedings on the part of such VICI Party are necessary to authorize the execution, delivery and performance of this Agreement or to consummate the transactions contemplated hereby.  This Agreement has been duly executed and delivered by each VICI Party, and (assuming due authorization, execution and delivery by each other Party) this Agreement constitutes a legal, valid and binding obligation of each VICI Party enforceable against such VICI Party in accordance with its terms, except as the enforcement thereof may be subject to (i) bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting or relating to enforcement of creditors’ rights generally, and (ii) general equitable principles.

 

Section 3.2                                    No Conflicts; Consents.  The execution, delivery and performance by each VICI Party of this Agreement and the consummation of the transactions contemplated hereby, do not and will not, without giving effect to the Restructuring Transactions: (a) conflict with or result in a violation or breach of, or default under, any provision of the certificate of incorporation, by-laws or other organizational documents of any VICI Party, (b) conflict with in any material respect or result in a material violation or breach of any provision of any Applicable Law or Order applicable to any VICI Party, (c) to the Knowledge of VICI (as defined below), 

 

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except as set forth on Schedule 2.3 and Schedule 3.2(b) of the Merger Agreement, require any material consent, notice or other action by any Person under (i) any material Contract to which any VICI Party is a party, or (ii) any material Permit held by any VICI Party, (d) result in the creation or imposition of any Lien on any VICI Party or their respective assets other than Permitted Liens and, except, in the case of clauses (b), (c) and (d), for any such conflict, breach, default, acceleration, termination, modification, cancellation or Lien that would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on such VICI Parties’ ability to perform their respective obligations under the Merger Agreement, the Restructuring Transactions and/or the other transactions contemplated hereby, as applicable.  Except (x) as set forth on Schedule 2.3 and Schedule 3.2(b) of the Merger Agreement, and without giving effect to the Restructuring Transactions, and (y) with respect to the consummation of the Restructuring Transactions, including the filing of the documents set forth on Schedule A, to the Knowledge of VICI, no consent, approval, Permit, Order, declaration or filing with, or notice to any Governmental Authority is required by or with respect to any VICI Party in connection with the execution, delivery and performance of this Agreement by the VICI Parties and the consummation of the transactions contemplated hereby by the VICI Parties, it being agreed that (A) it is not contemplated hereby that any VICI Parties, including HoldCo, shall be required to seek any consent, approval, Permit, Order, declaration or filing with, or notice to any Governmental Authority to own the Business or Operating Assets and (B) it is only contemplated hereby and thereby that if the Gaming Board imposes any requirement described in clause (ii)(y) of Schedule 5.1(b)(i) of the Merger Agreement and, as a result of such requirement, the VICI Parties fail to obtain any Closing Gaming Approvals, such failure shall not result in, or be deemed a breach of, this Section 3.1. For all purposes hereunder, the term “Knowledge of VICI” shall mean the actual knowledge of John Payne.

 

Section 3.3                                    Merger Agreement Representations of VICI Parties.  The representations and warranties set forth in Article 3 of the Merger Agreement, to the extent made by and applicable to the VICI Parties, are true and correct as of the time so given.

 

Section 3.4                                    Brokers.  None of the VICI Parties has incurred, directly or indirectly, any Liability for brokerage or finders’ fees or agents’ commissions or any similar charges in connection with the consummation of the transactions contemplated hereunder, other than to Goldman Sachs & Co. LLC.

 

Section 3.5                                    NO OTHER REPRESENTATIONS.  EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES EXPRESSLY MADE BY THE VICI PARTIES IN THIS ARTICLE III, NONE OF THE VICI PARTIES, THEIR AFFILIATES OR ANY STOCKHOLDER, OPTIONHOLDER, DIRECTOR OR OFFICER THEREOF OR THEIR RESPECTIVE AFFILIATES, MAKES ANY EXPRESS OR IMPLIED REPRESENTATION OR WARRANTY WITH RESPECT TO THE INTERMEDIATE MEMBERSHIP INTERESTS, THE ASSETS OF INTERMEDIATE AND OPCO, THE BUSINESS, AND THE TRANSACTIONS CONTEMPLATED BY THIS AGREEMENT.

 

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ARTICLE IV
 REPRESENTATIONS AND WARRANTIES
 OF THE PNG PARTIES

 

The PNG Parties hereby jointly and severally represent and warrant to the VICI Parties, as of the date hereof and as of the Closing Date, as follows:

 

Section 4.1                                    Organization and Authority.  Penn Parent is a Pennsylvania corporation and Operator is a Delaware limited liability company, and each is duly organized, validly existing and in good standing under the Laws of the jurisdiction of its incorporation or formation.  Each PNG Party has all requisite corporate power and authority to enter into and perform its obligations under this Agreement and to consummate the transactions contemplated hereby.  The execution, delivery and performance by each PNG Party of this Agreement and the consummation by each PNG Party of the transactions contemplated hereby have been duly authorized by all requisite corporate or other action on the part of such PNG Party and no other corporate or other proceedings on the part of such PNG Party are necessary to authorize the execution, delivery and performance of this Agreement or to consummate the transactions contemplated hereby.  This Agreement has been duly executed and delivered by each PNG Party, and (assuming due authorization, execution and delivery by each other Party) this Agreement constitutes a legal, valid and binding obligation of each PNG Party enforceable against such PNG Party in accordance with its terms, except as the enforcement thereof may be subject to (i) bankruptcy, insolvency, reorganization, moratorium or other similar laws affecting or relating to enforcement of creditors’ rights generally, and (ii) general equitable principles.

 

Section 4.2                                    No Conflicts; Consents.  The execution, delivery and performance by each PNG Party of this Agreement, and the consummation of the transactions contemplated hereby, do not and will not: (a) conflict with or result in a violation or breach of, or default under, any provision of the certificate of incorporation, by-laws or other organizational documents of any PNG Party, (b) conflict with in any material respect or result in a material violation or breach of any provision of any Applicable Law or Order applicable to any PNG Party, (c) to the Knowledge of Penn Parent (as defined below) except as set forth on Schedule 2.3 and Schedule 3.2(a) of the Merger Agreement, require any material consent, notice or other action by any Person under (i) any material Contract to which any PNG Party is a party, or (ii) any material Permit held by any PNG Party, (d) result in the creation or imposition of any Lien on any PNG Party or their respective assets other than Permitted Liens and, except, in the case of clauses (b), (c) and (d), for any such conflict, breach, default, acceleration, termination, modification, cancellation or Lien that would not, individually or in the aggregate, reasonably be expected to have a material adverse effect on such PNG Parties’ ability to perform their respective obligations under the Merger Agreement, the Restructuring Transactions and/or the other transactions contemplated hereby, as applicable.  Except (x) as set forth on Schedule 2.3 and Schedule 3.2(a) of the Merger Agreement, and (y) with respect to the consummation of the Restructuring Transactions, including the filing of the documents set forth on Schedule A, to the Knowledge of Penn Parent (as defined below), no consent, approval, Permit, Order, declaration or filing with, or notice to any Governmental Authority is required by or with respect to any PNG Party in connection with the execution, delivery and performance of this Agreement by the PNG Parties and the consummation of the transactions contemplated hereby by the PNG Parties.

 

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For all purposes hereunder, the term “Knowledge of Penn Parent” shall mean the actual knowledge of Nelson Parker.

 

Section 4.3                                    Merger Agreement Representations of PNG Parties.  The representations and warranties set forth in Article 3 of the Merger Agreement, to the extent made by and applicable to the PNG Parties, are true and correct as of the time so given.

 

Section 4.4                                    Brokers.  None of the PNG Parties has incurred, directly or indirectly, any Liability for brokerage or finders’ fees or agents’ commissions or any similar charges in connection with the consummation of the transactions contemplated hereunder.

 

Section 4.5                                    RELIANCE/ACKNOWLEDGMENT.  NOTWITHSTANDING ANYTHING CONTAINED IN THIS AGREEMENT, THE MERGER AGREEMENT OR ANY OF THE OTHER TRANSACTION DOCUMENTS TO THE CONTRARY, THE PNG PARTIES ACKNOWLEDGE AND AGREE THAT: (I) NONE OF THE VICI PARTIES, THEIR AFFILIATES OR ANY STOCKHOLDER, OPTIONHOLDER, DIRECTOR OR OFFICER THEREOF OR THEIR RESPECTIVE AFFILIATES IS MAKING ANY REPRESENTATIONS OR WARRANTIES WHATSOEVER, EXPRESS OR IMPLIED, AT LAW OR IN EQUITY, AND THAT NO OFFICER, EMPLOYEE, ADVISOR, AGENT, REPRESENTATIVE OR AFFILIATE OF THE VICI PARTIES, THEIR AFFILIATES OR ANY STOCKHOLDER, OPTIONHOLDER, DIRECTOR OR OFFICER THEREOF OR THEIR RESPECTIVE AFFILIATES HAS ANY AUTHORITY, EXPRESS OR IMPLIED, TO MAKE ANY REPRESENTATIONS OR WARRANTIES WHATSOEVER, EXPRESS OR IMPLIED, AT LAW OR IN EQUITY, OTHER THAN THE REPRESENTATIONS AND WARRANTIES EXPRESSLY MADE BY THE VICI PARTIES IN ARTICLE III OF THIS AGREEMENT; (II) EXCEPT FOR THE REPRESENTATIONS AND WARRANTIES EXPRESSLY CONTAINED ARTICLE III, OF THIS AGREEMENT, THE INTERMEDIATE MEMBERSHIP INTERESTS AND THE BUSINESS ARE BEING TRANSFERRED ON A “WHERE IS” AND, AS TO CONDITION, “AS IS” BASIS; AND (III) NONE OF THE VICI PARTIES, THEIR AFFILIATES OR ANY STOCKHOLDER, OPTIONHOLDER, DIRECTOR OR OFFICER THEREOF OR THEIR RESPECTIVE AFFILIATES HAS MADE ANY REPRESENTATION OR WARRANTY, EXPRESS OR IMPLIED, AT LAW OR IN EQUITY, AS TO THE ACCURACY OR COMPLETENESS OF ANY INFORMATION FURNISHED TO THE PNG PARTIES IN CONNECTION WITH THIS AGREEMENT, THE MERGER AGREEMENT OR ANY OTHER TRANSACTION DOCUMENT AND THE TRANSACTIONS CONTEMPLATED HEREBY OR THEREBY THAT IS NOT EXPRESSLY SET FORTH IN ARTICLE III OF THIS AGREEMENT.  THE PNG PARTIES ACKNOWLEDGE THAT OPERATOR IS ACQUIRING THE BUSINESS AND THE INTERMEDIATE MEMBERSHIP INTERESTS SUBJECT ONLY TO PROVISIONS OF THE MERGER AGREEMENT, AND NOT IN RELIANCE UPON ANY REPRESENTATION OR WARRANTY OF ANY VICI PARTY AND ITS AFFILIATES EXCEPT FOR THE EXPRESS REPRESENTATIONS OF THE VICI PARTIES CONTAINED IN THIS AGREEMENT.  THE PNG PARTIES ACKNOWLEDGE AND AGREE THAT PRIOR TO THE CLOSING (AS DEFINED IN THE MERGER AGREEMENT), NONE OF THE VICI PARTIES, THEIR AFFILIATES OR ANY STOCKHOLDER, OPTIONHOLDER, DIRECTOR OR OFFICER THEREOF OR THEIR RESPECTIVE AFFILIATES WILL OWN OR CONTROL ANY OF THE COMPANIES, AND THAT ANY ACTIONS TAKEN IN CONNECTION WITH THE 

 

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RESTRUCTURING TRANSACTIONS ARE FOR THE MUTUAL BENEFIT OF THE PARTIES HERETO.

 

ARTICLE V
 MISCELLANEOUS

 

Section 5.1                                    Obligations of Intermediate.  Upon the consummation of the Intermediate Closing, Operator shall become the sole member of Intermediate, and no VICI Party shall have any continuing obligations or liabilities with respect to the Membership Interests, all such obligations and liabilities being hereby assumed by Operator.

 

Section 5.2                                    Nonsurvival of Representations, Warranties and Covenants.  The representations, warranties, covenants and agreements in this Agreement shall terminate on the Intermediate Closing Date immediately following the Intermediate Closing, except that the representations and warranties set forth in Section 3.5 and Section 4.5 and the covenants and agreements set forth in this Article V shall survive the Intermediate Closing.  At and at all times after the Intermediate Closing, in no event shall any (a) VICI Party have any recourse against any PNG Party or any of such PNG Party’s Affiliates, or any past, present or future director, manager, officer, employee, incorporator, member, partner, stockholder, agent, attorney or representative of any PNG Party or such PNG Party’s Affiliates with respect to any representation, warranty, covenant or agreement made by the PNG Parties in this Agreement except with respect to the representations and warranties set forth in Section 4.5 and the covenants and agreements set forth in this Article V, and (b) PNG Party have any recourse against any VICI Party or any of such VICI Party’s Affiliates (including, from and after the Effective Time, HoldCo), or any past, present or future director, manager, officer, employee, incorporator, member, partner, stockholder, agent, attorney or representative of any VICI Party or such VICI Party’s Affiliates, with respect to any representation, warranty, covenant or agreement made by the VICI Parties in this Agreement except with respect to the representations and warranties set forth in Section 3.5 and the covenants and agreements set forth in this Article V.

 

Section 5.3                                    Termination.

 

(a)                                 Termination.  Notwithstanding anything to the contrary contained in this Agreement, this Agreement (i) may be terminated and the transactions contemplated hereunder may be abandoned at any time prior to the Intermediate Closing by mutual written consent of all of the parties hereto and (ii) will automatically terminate and be of no further force and effect if the Merger Agreement is terminated in accordance with its terms and the Merger has not and/or will not occur.

 

(b)                                 Effect of Termination.  In the event this Agreement is validly terminated in accordance with Section 5.3(a), then this Agreement shall become null and void and of no further force or effect, and there shall be no liability or obligation hereunder on the part of the VICI Parties, the PNG Parties, or any of their respective managers, directors, stockholders, members, partners, officers, employees, agents, representatives, successors or assigns, except 

 

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that the representations and warranties set forth in Section 3.5 and Section 4.5 and the covenants and agreements set forth in this Article V shall survive the termination of this Agreement.

 

Section 5.4                                    Specific Performance.

 

(a)                                 Each party hereto agrees that, in the event of any breach or threatened breach by another party of any covenant or obligation contained in this Agreement, the non-breaching party shall be entitled to seek (i) a decree or order of specific performance to enforce the observance and performance of such covenant or obligation, and (ii) an injunction restraining such breach or threatened breach, in addition to any other remedy to which any party is entitled at law or in equity; provided, however, that no party may seek specific performance unless the Closing shall have occurred under the Merger Agreement.

 

(b)                                 Each party hereto further agrees that no parties shall be required to obtain, furnish or post any bond or similar instrument in connection with or as a condition to obtaining any remedy referred to in this Section 5.4, and each party irrevocably waives any right it may have to require the obtaining, furnishing or posting of any such bond or similar instrument.

 

Section 5.5                                    Notices.  All notices and other communications required or permitted hereunder shall be in writing and shall be mailed by registered or certified mail, return receipt requested, postage prepaid, otherwise delivered by hand or by messenger, including any nationally recognized overnight delivery service, or delivered by commercially recognized electronic transmission, and shall be addressed:

 

(a)                                 if to any VICI Party:

 

VICI Properties Inc.
 430 Park Avenue, 8th Floor
 New York, New York 10022
 Attention: John Payne and Samantha Sacks Gallagher
 Email: jpayne@viciproperties.com and corplaw@viciproperties.com

 

with a copy to:

 

Kramer Levin Naftalis & Frankel LLP
 1177 Avenue of the Americas
 New York, New York 10036
 Attention: Todd E. Lenson and Jordan Rosenbaum
 Email:            tlenson@kramerlevin.com and jrosenbaum@kramerlevin.com

 

(b)                                 if to any PNG Party:

 

Penn National Gaming, Inc.
 825 Berkshire Blvd., Suite 200
 Wyomissing, PA 19160
 Attention:  General Counsel
 Email: Carl.Sottosanti@pngaming.com

 

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with a copy to:

 

White and Williams LLP
 7 Times Square, Suite 2900
 New York, NY 10036
 Attention: Steven Coury
 Email: courys@whiteandwilliams.com

 

Each such notice or other communication shall for all purposes of this Agreement be treated as effective or having been given when delivered, if delivered personally, by messenger (including any nationally recognized overnight delivery service) or by commercially recognized electronic transmission, or, if sent by mail, at the earlier of its receipt or 72 hours after the same has been deposited in a regularly maintained receptacle for the deposit of United States mail, postage prepaid, certified mail, return receipt requested, addressed and mailed as aforesaid.

 

Section 5.6                                    Amendments.

 

(a)                                 Any provision of this Agreement may be amended or modified only by a written instrument signed by all of the parties hereto.

 

(b)                                 No waiver hereunder shall be valid or binding unless set forth in writing and duly executed by the party hereto against whom enforcement of the waiver is sought.  Any such waiver shall constitute a waiver only with respect to the specific matter described in such writing and shall in no way impair the rights of the party hereto granting such waiver in any other respect or at any other time.  Neither the waiver by any of the parties hereto of a breach of or a default under any of the provisions of this Agreement, nor the failure by any of the parties hereto, on one or more occasions, to enforce any of the provisions of this Agreement or to exercise any right or privilege hereunder, shall be construed as a waiver of any other breach or default of a similar nature, or as a waiver of any of such provisions, rights or privileges hereunder.  Except as otherwise provided herein, no action taken pursuant to this Agreement, including any investigation by or on behalf of any party hereto, shall be deemed to constitute a waiver by the party hereto taking such action of compliance with any representations, warranties, covenants or agreements contained in this Agreement.

 

Section 5.7                                    Governing Law.  This Agreement, and all claims or causes of action (whether in contract or tort) that may be based upon, arise out of or relate to this Agreement, or the negotiation, execution or performance of this Agreement (including any claim or cause of action based upon, arising out of or related to any representation or warranty made in or in connection with this Agreement or as an inducement to enter into this Agreement, and the facts and circumstances leading to the execution of this Agreement), shall be governed by the internal laws of the State of Delaware without reference to the conflicts of law provisions thereof.

 

Section 5.8                                    Waiver of Jury Trial.  EACH PARTY HERETO ACKNOWLEDGES AND AGREES THAT ANY CONTROVERSY OR CLAIM WHICH MAY ARISE UNDER THIS AGREEMENT IS LIKELY TO INVOLVE COMPLICATED AND DIFFICULT ISSUES, AND THEREFORE IT HEREBY IRREVOCABLY AND UNCONDITIONALLY WAIVES ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LITIGATION 

 

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DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS AGREEMENT OR THE TRANSACTIONS CONTEMPLATED HEREUNDER.  EACH PARTY HERETO CERTIFIES AND ACKNOWLEDGES THAT (A) NO REPRESENTATIVE OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT SEEK TO ENFORCE THE FOREGOING WAIVER IN THE EVENT OF A LEGAL ACTION, (B) SUCH PARTY HAS CONSIDERED THE IMPLICATIONS OF THIS WAIVER, (C) SUCH PARTY MAKES THIS WAIVER VOLUNTARILY, AND (D) SUCH PARTY HAS BEEN INDUCED TO ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION 5.8.  THIS WAIVER MAY NOT BE MODIFIED EITHER ORALLY OR IN WRITING (OTHER THAN BY A MUTUAL WRITTEN WAIVER SPECIFICALLY REFERRING TO THIS SECTION 5.8) AND EXECUTED BY EACH OF THE PARTIES HERETO).  The scope of this waiver is intended to be all-encompassing of any and all disputes that may be filed in any court and that relate to the subject matter herein, including contract claims, tort claims, breach of duty claims and all other common law and statutory claims.  In the event of litigation, this Agreement may be filed as a written consent to a trial by the court.

 

Section 5.9                                    Binding Effect.  This Agreement will be binding upon, inure solely to the benefit of and be enforceable by the parties hereto and their respective permitted successors and assigns.

 

Section 5.10                             Severability.  If any provision of this Agreement becomes or is declared by a court of competent jurisdiction to be illegal, unenforceable or void, then this Agreement shall continue in full force and effect without such provisions; provided, however, that no such severability shall be effective if it materially changes the economic benefit of this Agreement to any party hereto.  Upon any such determination that any term or other provision is invalid, illegal or incapable of being enforced, the parties hereto shall negotiate in good faith to modify this Agreement so as to effect its original intent as closely as possible in an acceptable manner to the end that the transactions contemplated by the Transaction Documents are consummated to the extent possible, and in any case such term or provision shall be deemed amended to the extent necessary to make it no longer invalid, illegal or unenforceable.

 

Section 5.11                             Counterparts.  This Agreement may be executed in any number of counterparts, each of which may be executed by less than all of the parties hereto, each of which shall be enforceable against the parties hereto actually executing such counterparts, and all of which together shall constitute one instrument.  Signatures may be delivered by facsimile or by portable document format (“pdf”) in electronic transmission, which shall be effective as delivery of a manually executed counterpart of this Agreement.

 

Section 5.12                             Third Parties.  No provision of this Agreement is intended to or shall confer on any Person, other than the parties hereto (and their permitted successors and assigns), any rights under this Agreement and no other Person shall be entitled to rely thereon.

 

Section 5.13                             Assignment.  Neither this Agreement nor any of the rights, interests or obligations hereunder shall be assigned, delegated or otherwise transferred by any party hereto (whether by operation of law or otherwise) without the prior written consent of the each of the parties hereto, provided, that the VICI Parties or the PNG Parties may assign this Agreement to

 

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any of their respective Affiliates without the prior consent of any other party hereto; provided, further, that no such assignment shall limit or release the applicable assignor’s obligations hereunder.

 

[Signature page follows]

 

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

 

	
 
    	
VICI PROPERTIES INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ John Payne
    
	
 
    	
Name:
    	
John Payne
    
	
 
    	
Title:
    	
President and Chief   Operating Officer
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
RIVERVIEW MERGER SUB INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ John Payne
    
	
 
    	
Name:
    	
John Payne
    
	
 
    	
Title:
    	
President
    

 

[Signature Page — Membership Interest Purchase Agreement]

 

 

	
 
    	
PENN TENANT II, LLC
    
	
 
    	
 
    	
 
    
	
 
    	
By: Penn National   Gaming, Inc. its sole member
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ Jay Snowden
    
	
 
    	
Name:
    	
Jay Snowden
    
	
 
    	
Title:
    	
President and COO
    
	
 
    	
 
    
	
 
    	
 
    
	
 
    	
PENN NATIONAL   GAMING, INC.
    
	
 
    	
 
    	
 
    
	
 
    	
 
    	
 
    
	
 
    	
By:
    	
/s/ William J. Fair
    
	
 
    	
Name:
    	
William J. Fair
    
	
 
    	
Title:
    	
Executive Vice   President and CFO
    

 

[Signature Page — Membership Interest Purchase Agreement]

 

 

EXHIBIT A

 

FORM OF MEMBERSHIP INTEREST POWER

 

 

MEMBERSHIP INTEREST POWER

 

FOR VALUE RECEIVED, the undersigned does hereby sell, assign and transfer unto Penn Tenant II, LLC, 100% of the Membership Interests (as defined in the Limited Liability Company Agreement of [BCV (Intermediate), [LLC]](1) (the “Company”), dated as of [•], 2018), standing in its name on the books of the Company and does hereby irrevocably constitute and appoint each duly appointed officer of the Company as the undersigned’s true and lawful attorney, to transfer the said Membership Interests on the books of the Company with full power of substitution in the premises.

 

	
Dated:
    	
 
    	
 
    

 

 

MEMBERSHIP INTEREST HOLDER

 

BOSSIER CASINO VENTURE (HOLDCO), INC.

 

	
By:
    	
 
    	
 
    
	
 
    	
Name:
    	
 
    
	
 
    	
Title:
    	
 
    

 

(1)  NTD: Name of Intermediate post-conversion to be confirmed.

 

 

SCHEDULE A

 

RESTRUCTURING TRANSACTION FILINGS

 

·                  Act of Conversion of Intermediate to a Delaware limited liability company

 

·                  Act of Conversion of OpCo to a Louisiana limited liability company

 

·                  Act of Distribution of Property (with respect to the Owned Real Property) from OpCo to Intermediate

 

·                  Act of Distribution of Property (with respect to the Owned Real Property) from Intermediate to HoldCo

 

·                  Assignment and Assumption of Ground Lease from OpCo to Intermediate

 

·                  Assignment and Assumption of Ground Lease from Intermediate to HoldCo

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