Document:

EXHIBIT 4.2

 

FORM OF GLOBAL SUBORDINATED
NOTE

 

CHOICEONE
FINANCIAL SERVICES, INC.

3.25%
FIXED TO FLOATING Subordinated Note due SEPTEMBER 3, 2031

THE INDEBTEDNESS EVIDENCED BY THIS SUBORDINATED
NOTE IS SUBORDINATED AND JUNIOR IN RIGHT OF PAYMENT TO SENIOR INDEBTEDNESS (AS DEFINED IN SECTION 3 OF THIS SUBORDINATED NOTE)
OF CHOICEONE FINANCIAL SERVICES, INC. (THE “COMPANY”) AND DEPOSITORS OF CHOICEONE BANK, INCLUDING OBLIGATIONS OF THE
COMPANY TO ITS GENERAL AND SECURED CREDITORS AND IS UNSECURED. IT IS INELIGIBLE AS COLLATERAL FOR ANY EXTENSION OF CREDIT BY THE COMPANY
OR ANY OF ITS SUBSIDIARIES.

THIS SUBORDINATED NOTE IS A GLOBAL SUBORDINATED
NOTE WITHIN THE MEANING OF SECTION 5 OF THIS SUBORDINATED NOTE AND IS REGISTERED IN THE NAME
OF CEDE & CO AS NOMINEE OF THE DEPOSITORY TRUST COMPANY (“DTC”) OR ANOTHER NOMINEE OF DTC. THIS SUBORDINATED NOTE
IS EXCHANGEABLE FOR SUBORDINATED NOTES REGISTERED IN THE NAME OF A PERSON OTHER THAN DTC OR ITS NOMINEE ONLY IN THE LIMITED CIRCUMSTANCES
DESCRIBED IN SECTION 5 OF THIS SUBORDINATED NOTE, AND NO TRANSFER OF THIS SUBORDINATED NOTE (OTHER THAN A TRANSFER OF THIS SUBORDINATED
NOTE AS A WHOLE BY DTC TO A NOMINEE OF DTC OR BY A NOMINEE OF DTC TO DTC OR ANOTHER NOMINEE OF DTC) MAY BE REGISTERED EXCEPT IN LIMITED
CIRCUMSTANCES SPECIFIED IN THIS SUBORDINATED NOTE.

UNLESS THIS SUBORDINATED NOTE IS PRESENTED
BY AN AUTHORIZED REPRESENTATIVE OF DTC TO THE COMPANY OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE, OR PAYMENT, AND ANY SUBORDINATED
NOTE ISSUED IS REGISTERED IN THE NAME OF CEDE & CO, OR IN SUCH OTHER NAME AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC (AND
ANY PAYMENT HEREON IS MADE TO CEDE & CO. OR TO SUCH OTHER ENTITY AS IS REQUESTED BY AN AUTHORIZED REPRESENTATIVE OF DTC), ANY TRANSFER,
PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL INASMUCH AS THE REGISTERED OWNER HEREOF, CEDE &
CO., HAS AN INTEREST HEREIN.

TRANSFERS OF THIS SUBORDINATED NOTE WILL BE
LIMITED TO TRANSFERS IN WHOLE, BUT NOT IN PART, TO NOMINEES OF DTC OR A SUCCESSOR THEREOF OR SUCH SUCCESSOR’S NOMINEE AND TRANSFERS
OF PORTIONS OF THIS SUBORDINATED NOTE WILL BE LIMITED TO TRANSFERS MADE IN ACCORDANCE WITH THE RESTRICTIONS SET FORTH IN SECTION 5 OF
THIS SUBORDINATED NOTE.

IN THE EVENT OF LIQUIDATION ALL HOLDERS OF
SENIOR INDEBTEDNESS OF THE COMPANY SHALL BE ENTITLED TO BE PAID IN FULL WITH SUCH INTEREST AS MAY BE PROVIDED BY LAW BEFORE ANY PAYMENT
SHALL BE MADE ON ACCOUNT OF PRINCIPAL OF OR INTEREST ON THIS SUBORDINATED NOTE. AFTER PAYMENT IN FULL OF ALL SUMS OWING TO SUCH HOLDERS
OF SENIOR INDEBTEDNESS, THE

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HOLDER OF THIS SUBORDINATED NOTE, TOGETHER WITH THE HOLDERS OF ANY OBLIGATIONS OF THE COMPANY RANKING ON A
PARITY WITH THE SUBORDINATED NOTES, SHALL BE ENTITLED TO BE PAID FROM THE REMAINING ASSETS OF THE COMPANY THE UNPAID PRINCIPAL AMOUNT
OF THIS SUBORDINATED NOTE PLUS ACCRUED AND UNPAID INTEREST THEREON BEFORE ANY PAYMENT OR OTHER DISTRIBUTION, WHETHER IN CASH, PROPERTY
OR OTHERWISE, SHALL BE MADE (I) WITH RESPECT TO ANY OBLIGATION THAT BY ITS TERMS EXPRESSLY IS JUNIOR IN THE RIGHT OF PAYMENT TO THE SUBORDINATED
NOTES OR (II) ON ACCOUNT OF ANY SHARES OF CAPITAL STOCK OF THE COMPANY.

THE INDEBTEDNESS EVIDENCED BY THIS SUBORDINATED
NOTE IS NOT A DEPOSIT AND IS NOT INSURED BY THE FEDERAL DEPOSIT INSURANCE CORPORATION (THE “FDIC”) OR ANY OTHER GOVERNMENT
AGENCY OR FUND.

THIS SUBORDINATED NOTE WILL BE ISSUED AND MAY
BE TRANSFERRED ONLY IN MINIMUM DENOMINATIONS OF $1,000 AND MULTIPLES OF $1,000 IN EXCESS THEREOF.
ANY ATTEMPTED TRANSFER OF THIS SUBORDINATED NOTE IN A DENOMINATION OF LESS THAN $1,000 SHALL BE DEEMED TO BE VOID AND OF NO LEGAL EFFECT
WHATSOEVER. ANY SUCH PURPORTED TRANSFEREE SHALL BE DEEMED NOT TO BE THE HOLDER OF THIS SUBORDINATED NOTE FOR ANY PURPOSE, INCLUDING, BUT
NOT LIMITED TO, THE RECEIPT OF PAYMENTS ON THIS SUBORDINATED NOTE, AND SUCH PURPORTED TRANSFEREE SHALL BE DEEMED TO HAVE NO INTEREST WHATSOEVER
IN THIS SUBORDINATED NOTE.

THIS SUBORDINATED NOTE MAY BE SOLD ONLY IN
COMPLIANCE WITH APPLICABLE FEDERAL AND STATE SECURITIES LAWS. THIS SUBORDINATED NOTE HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT
OF 1933, AS AMENDED (THE “SECURITIES ACT”), OR ANY APPLICABLE STATE SECURITIES LAWS OR ANY OTHER APPLICABLE SECURITIES
LAWS. NEITHER THIS SUBORDINATED NOTE NOR ANY INTEREST OR PARTICIPATION HEREIN MAY BE REOFFERED, SOLD, ASSIGNED, TRANSFERRED, PLEDGED,
ENCUMBERED OR OTHERWISE DISPOSED OF IN THE ABSENCE OF SUCH REGISTRATION OR UNLESS SUCH TRANSACTION IS EXEMPT FROM, OR NOT SUBJECT TO,
THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT AND STATE SECURITIES LAWS.

CERTAIN ERISA CONSIDERATIONS:

THE
HOLDER OF THIS SUBORDINATED NOTE, OR ANY INTEREST HEREIN, BY ITS ACCEPTANCE HEREOF OR THEREOF AGREES, REPRESENTS AND WARRANTS
THAT IT IS NOT AN EMPLOYEE BENEFIT PLAN, INDIVIDUAL RETIREMENT ACCOUNT OR OTHER PLAN OR ARRANGEMENT
SUBJECT TO TITLE I OF THE EMPLOYEE RETIREMENT INCOME SECURITY ACT OF 1974, AS AMENDED (“ERISA”), OR SECTION
4975 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE “CODE”) (EACH A “PLAN”),
OR AN ENTITY WHOSE UNDERLYING ASSETS INCLUDE “PLAN ASSETS” BY REASON OF ANY
PLAN’S INVESTMENT IN THE ENTITY, AND NO PERSON INVESTING “PLAN ASSETS”
OF ANY PLAN MAY ACQUIRE OR HOLD THIS SUBORDINATED NOTE OR 

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ANY INTEREST HEREIN, UNLESS SUCH
PURCHASER OR HOLDER IS ELIGIBLE FOR THE EXEMPTIVE RELIEF AVAILABLE UNDER U.S. DEPARTMENT
OF LABOR PROHIBITED TRANSACTION CLASS EXEMPTION 96-23, 95-60, 91-38, 90-1 OR 84-14 OR ANOTHER APPLICABLE
EXEMPTION OR ITS PURCHASE AND HOLDING OF THIS SUBORDINATED NOTE, OR ANY INTEREST HEREIN,
ARE NOT PROHIBITED BY SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE WITH RESPECT TO SUCH PURCHASE AND HOLDING. ANY
PURCHASER OR HOLDER OF THIS SUBORDINATED NOTE OR ANY INTEREST HEREIN WILL BE DEEMED TO HAVE
REPRESENTED BY ITS PURCHASE AND HOLDING THEREOF THAT EITHER: (i) IT IS NOT AN EMPLOYEE BENEFIT
PLAN OR OTHER PLAN TO WHICH TITLE I OF ERISA OR SECTION 4975 OF THE CODE IS APPLICABLE,
A TRUSTEE OR OTHER PERSON ACTING ON BEHALF OF ANY SUCH EMPLOYEE BENEFIT
PLAN OR OTHER PLAN, OR ANY OTHER PERSON OR ENTITY USING THE “PLAN ASSETS” OF
ANY SUCH EMPLOYEE BENEFIT PLAN OR OTHER PLAN TO FINANCE SUCH PURCHASE OR (ii) SUCH PURCHASE OR HOLDING WILL NOT RESULT IN A PROHIBITED
TRANSACTION UNDER SECTION 406 OF ERISA OR SECTION 4975 OF THE CODE FOR WHICH FULL EXEMPTIVE RELIEF IS NOT AVAILABLE UNDER APPLICABLE
STATUTORY OR ADMINISTRATIVE EXEMPTION.

ANY FIDUCIARY OF ANY PLAN WHO IS CONSIDERING
THE ACQUISITION OF THIS SUBORDINATED NOTE OR ANY INTEREST HEREIN SHOULD CONSULT WITH HIS OR HER LEGAL COUNSEL PRIOR TO ACQUIRING THIS
SUBORDINATED NOTE OR ANY INTEREST HEREIN.

 

 

 

 

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	No. 2031-[●]	CUSIP 170386-AA4(5)

 

CHOICEONE
FINANCIAL SERVICES, INC.

3.25%
FIXED TO FLOATING Subordinated Note due SEPTEMBER 3, 2031

1.                Subordinated
Notes. This Subordinated Note is one of an issue of notes of ChoiceOne Financial Services, Inc., a Michigan corporation (the
“Company”) designated as the 3.25% Fixed to Floating Rate Subordinated Notes due September 3, 2031 (the
“Subordinated Notes”) issued pursuant to the Subordinated Note Purchase Agreement, dated as of the Issue Date (as
defined herein), between the Company and the several purchasers of the Subordinated Notes identified on the signature pages thereto
(each, a “Purchase Agreement” and collectively, the “Purchase Agreements”).

2.                Payment.
The Company, for value received, promises to pay to Cede & Co., as nominee of The Depository Trust Company
(“DTC”), or its registered assigns, the principal sum of __________ (U.S.) (_________), plus accrued but unpaid
interest on September 3, 2031 (“Stated Maturity”) and to pay interest thereon (i) from and including the
original issue date of the Subordinated Notes to but excluding September 3, 2026 or the earlier redemption date contemplated by Section
4 of this Subordinated Note (the “Fixed Rate Period”), at the rate of 3.25% per annum, computed on the basis
of a 360-day year consisting of twelve 30-day months and payable semi-annually in arrears on March 1 and September 1 of each year
(each, a “Fixed Interest Payment Date”), beginning March 1, 2022, and (ii) from and including September 3, 2026
to but excluding the Stated Maturity or the earlier redemption date contemplated by Section 4 of this Subordinated Note (the
“Floating Rate Period”), at the rate per annum equal to the Benchmark (defined in Section 2(a) below),
reset quarterly, plus 255 basis points, or such other rate as determined pursuant to this Section 2, computed on the basis of
a 360-day year and the actual number of days elapsed and payable quarterly in arrears on March 1, June 1, September 1, and December
1 of each year (each, a “Floating Interest Payment Date”). In the event that the interest rate for the
Floating Rate Period is less than zero, the interest rate for such Floating Rate Period shall be deemed to be zero. An
“Interest Payment Date” is either a Fixed Interest Payment Date or a Floating Interest Payment Date, as
applicable. Any payment of principal of or interest on this Subordinated Note that would otherwise become due and payable on a day
which is not a Business Day shall become due and payable on the next succeeding Business Day, with the same force and effect as if
made on the date for payment of such principal or interest, and no interest will accrue in respect of such payment for the period
after such day. 

(a)             
Definitions.

(i)              
“Administrator” means the Federal Reserve Bank (“FRB”), the
Federal Reserve Bank of New York (“FRBNY”), or a committee officially endorsed or convened by the FRB or FRBNY as the
administrator of SOFR, or any successor thereto.

(ii)            
“Benchmark” means, initially, Three-Month Term SOFR; provided that if the Company
determines on or prior to the Reference Time that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred
with respect to Three-Month Term SOFR or the then-current Benchmark, then “Benchmark” means the applicable Benchmark 

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Replacement.
“Benchmark Replacement” means the Interpolated Benchmark with respect to the then-current Benchmark, plus the Benchmark
Replacement Adjustment for such Benchmark; provided that if (A) the Company cannot determine the Interpolated Benchmark as of the Benchmark
Replacement Date or (B) the then-current Benchmark is Three-Month Term SOFR and a Benchmark Transition Event and its related Benchmark
Replacement Date have occurred with respect to Three-Month Term SOFR (in which event no Interpolated Benchmark with respect to Three-Month
Term SOFR shall be determined), then “Benchmark Replacement” means the first of the following alternatives that can be determined
by the Company as of the Benchmark Replacement Date: (1) Compounded SOFR; (2) the sum of: (a) the alternate rate that has been selected
or recommended by the Administrator as the replacement for the then-current Benchmark for the applicable Corresponding Tenor and (b)
the Benchmark Replacement Adjustment; (3) the sum of: (a) the ISDA Fallback Rate, and (b) the Benchmark Replacement Adjustment; or (4)
the sum of: (a) the alternate rate that has been selected by the Company as the replacement for the then-current Benchmark for the applicable
Corresponding Tenor, giving due consideration to any industry-accepted rate as a replacement for the then-current Benchmark for U.S.
Dollar-denominated floating rate securities at such time, and (b) the Benchmark Replacement Adjustment.

(iii)          
 “Benchmark Replacement Adjustment” means the first of the following alternatives
that can be determined by the Company as of the Benchmark Replacement Date: (A) the spread adjustment, or method for calculating or determining
such spread adjustment (which may be a positive or negative value or zero), that has been selected or recommended by the Administrator
for the applicable Unadjusted Benchmark Replacement; (B) if the applicable Unadjusted Benchmark Replacement is equivalent to the ISDA
Fallback Rate, then the ISDA Fallback Adjustment; and (C) the spread adjustment (which may be a positive or negative value or zero) that
has been selected by the Company giving due consideration to any industry-accepted spread adjustment or method for calculating or determining
such spread adjustment, for the replacement of the then-current Benchmark with the applicable Unadjusted Benchmark Replacement for U.S.
Dollar-denominated floating rate securities at such time.

(iv)          
“Benchmark Replacement Date” means the earliest to occur of the following events
with respect to the then-current Benchmark: (A) in the case of Section 2(a)(v)(A), the relevant Reference Time in respect of any
determination; (B) in the case of Section 2(a)(v)(B) or (C), the later of (1) the date of the public statement or publication
of information referenced therein and (2) the date on which the administrator of the Benchmark permanently or indefinitely ceases to provide
the Benchmark; or (C) in the case of Section 2(a)(v)(D), the date of the public statement or publication of information referenced
therein.

For the avoidance of doubt,
for purposes of the definitions of Benchmark Replacement Date and Benchmark Transition Event, references to the Benchmark also include
any reference rate underlying the Benchmark (for example, if the Benchmark becomes Compounded SOFR, references to the Benchmark would
include SOFR). For the avoidance of doubt, if the event giving rise to the Benchmark Replacement Date occurs on the same day as, but earlier
than, the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the
Reference Time for such determination.

(v)            
 “Benchmark Transition Event” means the occurrence of one or more of the following
events with respect to the then-current Benchmark: (A) if the Benchmark is Three-

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Month Term SOFR, (1) the Administrator has not selected
or recommended a forward-looking term rate for a tenor of three months based on SOFR, (2) the development of a forward-looking term rate
for a tenor of three months based on SOFR that has been recommended or selected by the Administrator is not complete or (3) the Company
determines that the use of a forward-looking rate for a tenor of three months based on SOFR is not administratively feasible; (B) a public
statement or publication of information by or on behalf of the administrator of the Benchmark announcing that such administrator has
ceased or will cease to provide the Benchmark, permanently or indefinitely, provided that, at the time of such statement or publication,
there is no successor administrator that will continue to provide the Benchmark; (C) a public statement or publication of information
by the regulatory supervisor for the administrator of the Benchmark, the central bank for the currency of the Benchmark, an insolvency
official with jurisdiction over the administrator for the Benchmark, a resolution authority with jurisdiction over the administrator
for the Benchmark or a court or an entity with similar insolvency or resolution authority over the administrator for the Benchmark, which
states that the administrator of the Benchmark has ceased or will cease to provide the Benchmark permanently or indefinitely, provided
that, at the time of such statement or publication, there is no successor administrator that will continue to provide the Benchmark;
or (D) a public statement or publication of information by the regulatory supervisor for the administrator of the Benchmark announcing
that the Benchmark is no longer representative.

(vi)          
 “Business Day” means any day that is not a Saturday or Sunday and that is not
a day on which banks in the State of Michigan are generally authorized or required by law or executive or other governmental order to
be closed.

(vii)        
“Compounded SOFR” means the compounded average of SOFRs for the applicable Corresponding
Tenor, with the rate, or methodology for this rate, and conventions for this rate being established by the Company in accordance with:
(A) the rate, or methodology for this rate, and conventions for this rate selected or recommended by the Administrator for determining
Compounded SOFR; provided that: (B) if, and to the extent that, the Company determines that Compounded SOFR cannot be determined in accordance
with clause (A) above, then the rate, or methodology for this rate, and conventions for this rate that have been selected by the Company
giving due consideration to any industry-accepted market practice for U.S. Dollar-denominated floating rate securities at such time. For
the avoidance of doubt, the calculation of Compounded SOFR shall exclude the Benchmark Replacement Adjustment (if applicable) and the
spread of 255 basis points per annum.

(viii)      
“Corresponding Tenor” with respect to a Benchmark Replacement means a tenor (including
overnight) having approximately the same length (disregarding business day adjustment) as the applicable tenor for the then-current Benchmark.

(ix)          
“Interpolated Benchmark” with respect to the Benchmark means the rate determined
for the Corresponding Tenor by interpolating on a linear basis between: (A) the Benchmark for the longest period (for which the Benchmark
is available) that is shorter than the Corresponding Tenor, and (B) the Benchmark for the shortest period (for which the Benchmark is
available) that is longer than the Corresponding Tenor.

(x)            
“ISDA Fallback Rate” means the rate that would apply for derivatives transactions
referencing the 2006 ISDA Definitions published by the International Swaps and 

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Derivatives Association, Inc. (“ISDA”)
or any successor thereto, as amended or supplemented from time to time, or any successor definitional booklet for interest rate derivatives
published from time to time (“ISDA Definitions”), to be effective upon the occurrence of an index cessation date with
respect to the Benchmark for the applicable tenor excluding the applicable ISDA Fallback Adjustment. “ISDA Fallback Adjustment”
means the spread adjustment (which may be a positive or negative value or zero) that would apply for derivatives transactions referencing
the ISDA Definitions to be determined upon the occurrence of an index cessation event with respect to the Benchmark for the applicable
tenor.

(xi)          
“Reference Time” with respect to any determination of the Benchmark means (A)
if the Benchmark is Three-Month Term SOFR, the time determined by the Company after giving effect to the Three-Month Term SOFR Conventions,
and (B) if the Benchmark is not Three-Month Term SOFR, the time determined by the Company after giving effect to any technical, administrative
or operational changes (including changes to the definition of “interest period,” timing and frequency of determining rates
with respect to each interest period and making payments of interest, rounding of amounts or tenors, and other administrative matters)
that the Company decides may be appropriate to reflect the adoption of such Benchmark Replacement in a manner substantially consistent
with market practice (or, if the Company decides that adoption of any portion of such market practice is not administratively feasible
or if the Company determines that no market practice for use of the Benchmark Replacement exists, in such other manner as the Company
determines is reasonably necessary) (the “Benchmark Replacement Conforming Changes”).

(xii)        
 “SOFR” means the secured overnight financing rate published by the Administrator
on the FRBNY’s website. “Term SOFR” means the forward-looking term rate based on SOFR that has been selected
or recommended by the Administrator. “Three-Month Term SOFR” means the rate for Term SOFR for a tenor of three months
that is published by the Administrator at the Reference Time for any interest period, as determined by the Company after giving effect
to the Three-Month Term SOFR Conventions. All percentages used in or resulting from any calculation of Three-Month Term SOFR shall be
rounded, if necessary, to the nearest one-hundred-thousandth of a percentage point, with 0.000005% rounded up to 0.00001%. 

(xiii)      
“Three-Month Term SOFR Conventions” means any determination, decision or election
with respect to any technical, administrative or operational matter (including with respect to the manner and timing of the publication
of Three-Month Term SOFR, or changes to the definition of “interest period,” timing and frequency of determining Three-Month
Term SOFR with respect to each interest period and making payments of interest, rounding of amounts or tenors, and other administrative
matters) that the Company decides may be appropriate to reflect the use of Three-Month Term SOFR as the Benchmark in a manner substantially
consistent with market practice (or, if the Company decides that adoption of any portion of such market practice is not administratively
feasible or if the Company determines that no market practice for the use of Three-Month Term SOFR exists, in such other manner as the
Company determines is reasonably necessary).

(xiv)       
“Unadjusted Benchmark Replacement” means the Benchmark Replacement excluding the
Benchmark Replacement Adjustment. 

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(b)            
Effect of Benchmark Transition Event.

(i)              
If the Company determines that a Benchmark Transition Event and its related Benchmark Replacement
Date have occurred on or prior to the Reference Time in respect of any determination of the Benchmark on any date, then the Benchmark
Replacement will replace the then-current Benchmark for all purposes relating to the Subordinated Notes during the Floating Rate Period
in respect of such determination on such date and all determinations on all subsequent dates. In connection with the implementation of
a Benchmark Replacement, the Company will have the right to make Benchmark Replacement Conforming Changes from time to time.

(ii)            
Notwithstanding anything set forth in Section 2(b)(i) above, if the Company determines on
or prior to the relevant Reference Time that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with
respect to Three-Month Term SOFR, then the provisions set forth in this Section 2(b)(ii) will thereafter apply to all determinations
of the interest rate on the Notes during the Floating Rate Period. After a Benchmark Transition Event and its related Benchmark Replacement
Date have occurred, the interest rate on the Notes for each interest period during the Floating Rate Period will be an annual rate equal
to the Benchmark Replacement plus 255 basis points.

(iii)          
The Company is expressly authorized to make certain determinations, decisions and elections under
the terms of the Subordinated Notes, including with respect to the use of Three-Month Term SOFR as the Benchmark and under this Section
2(b)(iii). Any determination, decision or election that may be made by the Company under the terms of the Subordinated Notes, including
any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date
and any decision to take or refrain from taking any action or selection (A) will be conclusive and binding on the Noteholders absent manifest
error, (B) will be made in the Company’s sole discretion, and (C) notwithstanding anything to the contrary herein, shall become
effective without consent from the Noteholders or any other party. 

(iv)          
If the then-current Benchmark is Three-Month Term SOFR, the Company will have the right to establish
the Three-Month Term SOFR Conventions, and if any of the foregoing provisions concerning the calculation of the interest rate and the
payment of interest during the Floating Rate Period are inconsistent with any of the Three-Month Term SOFR Conventions determined by the
Company, then the relevant Three-Month Term SOFR Conventions will apply.

3.               
Subordination. The indebtedness of the Company evidenced by this Subordinated Note, including
the principal and interest on this Subordinated Note, shall be subordinate and junior in right of payment to the prior payment in full
of all existing claims of creditors of the Company and depositors of ChoiceOne Bank (the “Bank”), whether now outstanding
or subsequently created, assumed, guaranteed or incurred (collectively, “Senior Indebtedness”), which shall consist
of principal of (and premium, if any) and interest, if any, on: (a) all indebtedness and obligations of, or guaranteed or assumed by,
the Company for money borrowed, whether or not evidenced by bonds, debentures, securities, notes or other similar instruments, and including,
but not limited to, deposits of the Bank, and all obligations to the Company’s general and secured creditors; (b) any deferred obligations
of the Company for the payment of the purchase 

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price of property
or assets acquired other than in the ordinary course of business; (c) all obligations, contingent or otherwise, of the Company in respect
of any letters of credit, bankers’ acceptances, security purchase facilities and similar direct credit substitutes; (d) any capital
lease obligations of the Company; (e) all obligations of the Company in respect of interest rate swap, cap or other agreements, interest
rate future or option contracts, currency swap agreements, currency future or option contracts, commodity contracts and other similar
arrangements or derivative products; (f) any obligation of the Company to its general creditors, as defined for purposes of the capital
adequacy regulations of the Federal Reserve applicable to the Company, as the same may be amended or modified from time to time; (g)
all obligations that are similar to those in clauses (a) through (f) of other persons for the payment of which the Company is responsible
or liable as obligor, guarantor or otherwise arising from an off-balance sheet guarantee; (h) all obligations of the types referred to
in clauses (a) through (g) of other persons secured by a lien on any property or asset of the Company, and (i) in the case of (a) through
(h) above, all amendments, renewals, extensions, modifications and refundings of such indebtedness and obligations; except “Senior
Indebtedness” does not include (i) the Subordinated Notes, (ii) any obligation ranking on parity with, or subordinated to, the
Subordinated Notes, or (iii) any indebtedness between the Company and any of its subsidiaries or Affiliates. This Subordinated Note is
not secured by any assets of the Company. The term “Affiliate(s)” means, with respect to any Person, such Person’s
immediate family members, partners, members or parent and subsidiary corporations, and any other Person directly or indirectly controlling,
controlled by, or under common control with said Person and their respective Affiliates.

In the event of liquidation
of the Company, holders of Senior Indebtedness of the Company shall be entitled to be paid in full with such interest as may be provided
by law before any payment shall be made on account of principal of or interest on this Subordinated Note. Additionally, in the event of
any insolvency, dissolution, assignment for the benefit of creditors or any liquidation or winding up of or relating to the Company, whether
voluntary or involuntary, holders of Senior Indebtedness shall be entitled to be paid in full before any payment shall be made on account
of the principal of or interest on the Subordinated Notes, including this Subordinated Note. In the event of any such proceeding, after
payment in full of all sums owing with respect to the Senior Indebtedness, the registered holders of the Subordinated Notes from time
to time (each a “Noteholder” and, collectively, the “Noteholders”), together with the holders of
any obligations of the Company ranking on a parity with the Subordinated Notes, shall be entitled to be paid from the remaining assets
of the Company the unpaid principal thereof, and the unpaid interest thereon before any payment or other distribution, whether in cash,
property or otherwise, shall be made (i) with respect to any obligation that by its terms expressly is junior to the right of payment
to the Subordinated Notes or (ii) on account of any capital stock.

If there shall have occurred
and be continuing (a) a default in any payment with respect to any Senior Indebtedness or (b) an event of default with respect to any
Senior Indebtedness as a result of which the maturity thereof is accelerated, unless and until such payment default or event of default
shall have been cured or waived or shall have ceased to exist, no payments shall be made by the Company with respect to the Subordinated
Notes. The provisions of this paragraph shall not apply to any payment with respect to which the immediately preceding paragraph of this
Section 3 would be applicable.

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Nothing herein shall act
to prohibit, limit or impede the Company from issuing additional debt of the Company having the same rank as the Subordinated Notes or
which may be junior or senior in rank to the Subordinated Notes.

4.               
Redemption. 

(a)              
Redemption Prior to Fifth Anniversary. This Subordinated Note shall not be redeemable by
the Company in whole or in part prior to the fifth anniversary of the date upon which this Subordinated Note was originally issued (the
“Issue Date”), except in the event of a: (i) Tier 2 Capital Event (as defined below); (ii) Tax Event (as defined below);
or (iii) Investment Company Event (as defined below). Upon the occurrence of a Tier 2 Capital Event, a Tax Event or an Investment Company
Event, the Company may redeem this Subordinated Note in whole or in part at any time, upon giving not less than 10 days’ notice
to Noteholder at an amount equal to 100% of the outstanding principal amount being redeemed plus accrued but unpaid interest, to but
excluding the redemption date. “Tier 2 Capital Event” means the receipt by the Company of an opinion of counsel to
the Company to the effect that there is a material risk that this Subordinated Note no longer qualifies as “Tier 2” Capital
(as defined by the Board of Governors of the Federal Reserve System (the “Federal Reserve”)) (or its then equivalent)
as a result of a change in interpretation or application of law or regulation by any judicial, legislative or regulatory authority that
becomes effective after the Issue Date. “Tax Event” means the receipt by the Company of an opinion of counsel to the
Company that as a result of any amendment to, or change (including any final and adopted (or enacted) prospective change) in, the laws
(or any regulations thereunder) of the United States or any political subdivision or taxing authority thereof or therein, or as a result
of any official administrative pronouncement or judicial decision interpreting or applying such laws or regulations, there exists a material
risk that interest payable by the Company on the Subordinated Notes is not, or within 120 days after the receipt of such opinion will
not be, deductible by the Company, in whole or in part, for United States federal income tax purposes. “Investment Company Event”
means the receipt by the Company of an opinion of counsel to the Company to the effect that there is a material risk that the Company
is or, within 120 days after the receipt of such opinion will be, required to register as an investment company pursuant to the Investment
Company Act of 1940, as amended.

(b)            
Redemption on or after Fifth Anniversary. On or after the fifth anniversary of the Issue Date,
this Subordinated Note shall be redeemable at the option of and by the Company, in whole or in part, at any time and from time to time
upon any Interest Payment Date, at an amount equal to 100% of the outstanding principal amount being redeemed plus accrued but unpaid
interest, to but excluding the redemption date, but in all cases in a principal amount with integral multiples of $1,000. 

(c)             
Partial Redemption. If less than the then outstanding principal amount of this Subordinated
Note is redeemed, (i) a new Subordinated Note shall be issued representing the unredeemed portion without charge to the holder thereof
and (ii) such redemption shall be effected on a pro rata basis as to the Noteholders. For purposes of clarity, upon a partial redemption,
a like percentage of the principal amount of every Subordinated Note held by every Noteholder shall be redeemed and such partial redemption
will be processed through DTC, in accordance with its rules and procedures, as a Pro Rata Pass-Through Distribution of Principal. 

    	 	A-10	 

     

    

(d)            
No Redemption at Option of Noteholder. This Subordinated Note is not subject to redemption
at the option of the Noteholder.

(e)              
Effectiveness of Redemption. If notice of redemption has been duly given and notwithstanding
that this Subordinated Note has been called for redemption but has not yet been surrendered for cancellation, on and after the date fixed
for redemption, interest shall cease to accrue on the portion of this Subordinated Note called for redemption, this Subordinated Note
shall no longer be deemed outstanding with respect to the portion called for redemption and all rights with respect to the portion of
this Subordinated Note called for redemption shall forthwith on such date fixed for redemption cease and terminate unless the Company
shall default in the payment of the redemption price, except only the right of Noteholder to receive the amount payable on such redemption,
without interest. 

(f)             
Regulatory Approvals. Any such redemption shall be subject to receipt of any and all required
federal and state regulatory approvals, including, but not limited to, the consent of the Federal Reserve. In the case of any redemption
of this Subordinated Note pursuant to paragraph (b) of this Section 4, the Company will give the holder hereof notice of redemption,
which notice shall indicate the aggregate principal amount of Subordinated Notes to be redeemed, not less than 30 nor more than 60 calendar
days prior to the redemption date.

(g)            
Purchase and Resale of the Subordinated Notes. Subject to any required federal and state regulatory
approvals and the provisions of this Subordinated Note, the Company shall have the right to purchase any of the Subordinated Notes at
any time in the open market, private transactions or otherwise. If the Company purchases any Subordinated Notes, it may, in its discretion,
hold, resell or cancel any of the purchased Subordinated Notes.

5.               
Global Subordinated Notes.

(a)             
Provided that applicable depository eligibility requirements are met, the Subordinated Notes owned
by Noteholders shall be issued in the form of one or more Global Subordinated Notes (each a “Global Subordinated Note”)
registered in the name of DTC or another organization registered as a clearing agency under the Securities Exchange Act of 1934, as amended
(the “Exchange Act”), and designated as Depositary by the Company or any successor thereto (the “Depositary”)
or a nominee thereof and delivered to such Depositary or a nominee thereof.

(b)            
Notwithstanding any other provision herein, no Global Subordinated Note may be exchanged in whole
or in part for Subordinated Notes registered, and no transfer of a Global Subordinated Note in whole or in part may be registered, in
the name of any person other than the Depositary for such Global Subordinated Note or a nominee thereof unless (i) such Depositary advises
the Company in writing that such Depositary is no longer willing or able to properly discharge its responsibilities as Depositary with
respect to such Global Subordinated Note, and no qualified successor is appointed by the Company within ninety (90) days of receipt by
the Company of such notice, (ii) such Depositary ceases to be a clearing agency registered under the Exchange Act and no successor is
appointed by the Company within ninety (90) days after obtaining knowledge of such event, (iii) the Company elects to terminate the book-entry
system through the Depositary or (iv) an Event of Default (as defined in Section 6) shall have occurred 

    	 	A-11	 

     

    

and be continuing. Upon
the occurrence of any event specified in clause (i), (ii), (iii) or (iv) of this Section 5(b), the Company or its agent shall
notify the Depositary and instruct the Depositary to notify all owners of beneficial interests in such Global Subordinated Note of the
occurrence of such event and of the availability of Subordinated Notes to such owners of beneficial interests requesting the same.

(c)             
If any Global Subordinated Note is to be exchanged for other Subordinated Notes or canceled in part,
or if another Subordinated Note is to be exchanged in whole or in part for a beneficial interest in any Global Subordinated Note, then
either (i) such Global Subordinated Note shall be so surrendered for exchange or cancellation as provided in this Section 5 or
(ii) the principal amount thereof shall be reduced or increased by an amount equal to the portion thereof to be so exchanged or canceled,
or equal to the principal amount of such other Subordinated Note to be so exchanged for a beneficial interest therein, as the case may
be, by means of an appropriate adjustment made on the records of the Company or, if applicable, the Company’s registrar and transfer
agent (“Registrar”), whereupon the Company or, if applicable, the Registrar, in accordance with the applicable rules
and procedures of the Depositary (“Applicable Depositary Procedures”), shall instruct the Depositary or its authorized
representative to make a corresponding adjustment to its records. Upon any such surrender or adjustment of a Global Subordinated Note
by the Depositary, accompanied by registration instructions, the Company shall execute and deliver any Subordinated Notes issuable in
exchange for such Global Subordinated Note (or any portion thereof) in accordance with the instructions of the Depositary.

(d)            
Every Subordinated Note executed and delivered upon registration of transfer of, or in exchange for
or in lieu of, a Global Subordinated Note or any portion thereof shall be executed and delivered in the form of, and shall be, a Global
Subordinated Note, unless such Subordinated Note is registered in the name of a person other than the Depositary for such Global Subordinated
Note or a nominee thereof.

(e)             
The Depositary or its nominee, as the registered owner of a Global Subordinated Note, shall be the
holder of such Global Subordinated Note for all purposes under this Subordinated Note, and owners of beneficial interests in a Global
Subordinated Note shall hold such interests pursuant to Applicable Depositary Procedures. Accordingly, any such owner’s beneficial
interest in a Global Subordinated Note shall be shown only on, and the transfer of such interest shall be effected only through, records
maintained by the Depositary or its nominee or its Depositary participants. If applicable, the Registrar shall be entitled to deal with
the Depositary for all purposes relating to a Global Subordinated Note (including the payment of principal and interest thereon and the
giving of instructions or directions by owners of beneficial interests therein and the giving of notices) as the sole holder of the Subordinated
Note and shall have no obligations to the owners of beneficial interests therein. The Registrar shall have no liability in respect of
any transfers undertaken by the Depositary.

(f)             
The rights of owners of beneficial interests in a Global Subordinated Note shall be exercised only
through the Depositary and shall be limited to those established by law and agreements between such owners and the Depositary and/or its
participants.

(g)            
No holder of any beneficial interest in any Global Subordinated Note held on its behalf by a Depositary
shall have any rights with respect to such Global Subordinated Note, and 

    	 	A-12	 

     

    

such Depositary may be treated by the Company and any agent
of the Company as the owner of such Global Subordinated Note for all purposes whatsoever. Neither the Company nor any agent of the Company
will have any responsibility or liability for any aspect of the records relating to or payments made on account of beneficial ownership
interests of a Global Subordinated Note or maintaining, supervising or reviewing any records relating to such beneficial ownership interests.
Notwithstanding the foregoing, nothing herein shall prevent the Company or any agent of the Company from giving effect to any written
certification, proxy or other authorization furnished by a Depositary or impair, as between a Depositary and such holders of beneficial
interests, the operation of customary practices governing the exercise of the rights of the Depositary (or its nominee) as holder of
any Subordinated Note.

6.               
Events of Default; Acceleration; Compliance Certificate. Each of the following events shall
constitute an “Event of Default:”

(a)                  
the entry of a decree or order for relief in respect of the Company by a
court having jurisdiction in an involuntary case or proceeding under any applicable bankruptcy,
insolvency, or reorganization law, now or hereafter in effect of the United States or any
political subdivision thereof, and such decree or order will have continued unstayed and in effect for a period of 60 consecutive
days;

(b)                 
the commencement by the Company of a voluntary case under any applicable bankruptcy, insolvency or
reorganization law, now or hereafter in effect of the United States or any political subdivision thereof, or the consent by the Company
to the entry of a decree or order for relief in an involuntary case or proceeding under any such law;

(c)           
the Company (i) becomes insolvent or is unable to pay its debts as
they mature, (ii) makes an assignment for the benefit of creditors, (iii) admits in writing its inability to pay its debts as
they mature, or (iv) ceases to be a bank holding company under the Bank Holding Company Act of 1956, as amended;

(d)            
the failure of the Company to pay any installment of interest on any of the
Subordinated Notes as and when the same will become due and payable, and the continuation of such
failure for a period of 30 days;

(e)             
the failure of the Company to pay all or any part of the principal of any of the
Subordinated Notes as and when the same will become due and payable;

(f)             
the liquidation of the Company (for the avoidance of doubt, “liquidation” does not include
any merger, consolidation, sale of equity or assets or reorganization (exclusive of a reorganization in bankruptcy) of the Company or
any of its subsidiaries);

(g)                 
the failure of the Company to perform any other covenant or agreement on the
part of the Company contained in the Subordinated Notes, and the continuation of such failure for a period of 60 days after the
date on which notice specifying such failure, stating that such notice is a “Notice of Default”
hereunder and demanding that the Company remedy the same, will have been given, in the manner set forth in Section 21,
to the Company by the Noteholders of at least 50% in aggregate principal amount of the Subordinated
Notes at the time outstanding; or the default by the 

    	 	A-13	 

     

    

Company under
any bond, debenture, note or other evidence of indebtedness for money borrowed by the Company
having an aggregate principal amount outstanding of
at least $5,000,000, whether such indebtedness now exists or is created or incurred in the
future, which default (i) constitutes a failure to pay any portion of the principal of such
indebtedness when due and payable after the expiration of any applicable grace period or (ii) results
in such indebtedness becoming due or being declared due and payable prior to the date on which it otherwise would have become due and
payable, in the case of clause (i), without such indebtedness having been discharged or,
in the case of clause (ii), without such indebtedness having been discharged or such acceleration
having been rescinded or annulled.

If
an Event of Default described in subsections (a) or (b) above occurs, then the principal amount of all of the outstanding Subordinated
Notes, and accrued and unpaid interest, if any, on all outstanding Subordinated Notes will become and be immediately due and payable without
any declaration or other act on the part of any Noteholder, and the Company waives demand, presentment for payment, notice of nonpayment,
notice of protest, and all other notices. Notwithstanding the foregoing, because the Company will treat the Subordinated Notes as Tier
2 Capital, upon the occurrence of an Event of Default other than an Event of Default described in subsections (a) or (b) above, no Noteholder
may accelerate the Stated Maturity of the Subordinated Notes and make the principal of, and any accrued and unpaid interest on, the Subordinated
Notes, immediately due and payable. The Company, within 45 calendar days after the receipt of written notice from any Noteholder of the
occurrence of an Event of Default with respect to this Subordinated Note, shall mail to all Noteholders, at their addresses shown on the
Security Register (as defined in Section 14 below), such written notice of Event of Default, unless such Event of Default shall
have been cured or waived before the giving of such notice as certified by the Company in writing.

7.               
Failure to Make Payments. In the event of an Event of Default under subsections 5(c) or 5(d),
the Company will, upon demand of Noteholder, pay to Noteholder the amount then due and payable on this Subordinated Note for principal
and interest (without acceleration of the Note in any manner), with interest on the overdue principal and interest at the rate borne by
this Subordinated Note, to the extent permitted by applicable law. If the Company fails to pay such amount upon such demand, Noteholder
may, among other things, institute a judicial proceeding for the collection of the sums so due and unpaid, may prosecute such proceeding
to judgment or final decree and may enforce the same against the Company and collect the amounts adjudged or decreed to be payable in
the manner provided by law out of the property of the Company.

Upon the occurrence of
a failure by the Company to make any required payment of principal or interest on this Subordinated Note, or an Event of Default, until
such Event of Default is cured by the Company or waived by Noteholders in accordance with Section 17 hereof, the Company shall
not, except as required by any federal or state governmental agency: (a) declare or pay any dividends or distributions on, or redeem,
purchase, acquire, or make a liquidation payment with respect to, any of the Company’s capital stock; (b) make any payment of principal
of or interest or premium, if any, on, or repay, repurchase or redeem any indebtedness of the Company that ranks equal with or junior
to the Subordinated Notes; or (c) make any payments under any guarantee that ranks equal with or junior to the Subordinated Notes, other
than (i) any dividends or distributions in shares of, or options, warrants or rights to subscribe for or purchase shares of, any class
of the Company’s common stock; (ii) any declaration of a non-cash dividend in 

    	 	A-14	 

     

    

connection with the implementation of a shareholders’
rights plan, or the issuance of stock under any such plan in the future, or the redemption or repurchase of any such rights pursuant
thereto; (iii) as a result of a reclassification of the Company’s capital stock or the exchange or conversion of one class or series
of the Company’s capital stock for another class or series of the Company’s capital stock; (iv) the purchase of fractional
interests in shares of the Company’s capital stock pursuant to the conversion or exchange provisions of such capital stock or the
security being converted or exchanged; or (v) purchases of any class of the Company’s common stock related to the issuance of common
stock or rights under any benefit plans for the Company’s directors, officers or employees or any of the Company’s dividend
reinvestment plans.

8.               
Affirmative Covenants of the Company.

(a)             
Notice of Certain Events. To the extent permitted by applicable statute, rule or regulation,
the Company shall provide written notice to Noteholder as soon as practicable, but in no event later than fifteen Business Days following
the Company becoming aware of the occurrence of such event:

(i)              
the Company or Bank, or any executive officer of the Company or Bank, becomes subject to any formal,
written regulatory enforcement action (as defined by the applicable federal or state agency charged with the supervision or regulation
of depository institutions or holding companies of depository institutions, or engaged in the insurance of depository institution deposits,
or any court, administrative agency or commission or other authority, body or agency having supervisory or regulatory authority with respect
to the Company, the Bank or any of their subsidiaries); or

(ii)            
a transaction results in a change in ownership of fifty percent (50%) or
more of the outstanding securities of the Company entitled to vote for the election of directors.

(b)            
Payment of Principal and Interest. The Company
covenants and agrees for the benefit of Noteholder that it will duly and punctually pay the principal of, and interest on, this Subordinated
Note, in accordance with the terms hereof. 

(c)             
Maintenance of Office. The Company will maintain an
office or agency in the city of Sparta, Michigan where Subordinated Notes may be surrendered
for registration of transfer or for exchange and where notices and demands to or upon the Company in respect of the Subordinated Notes
may be served.

The
Company may also from time to time designate one or more other offices or agencies where
the Subordinated Notes may be presented or surrendered for any or all such purposes and may from time to time rescind such designations;
provided, however, that no such designation or rescission will in any manner relieve the Company of its obligation to maintain
an office or agency in the city of Sparta, Michigan. The Company will give prompt written notice
to the Noteholders of any such designation or rescission and of any change in the location
of any such other office or agency.

(d)            
Corporate Existence. The Company will do or cause to be done all things necessary to preserve
and keep in full force and effect: (i) the corporate existence of the Company; (ii) the existence (corporate or other) of each
of its subsidiaries; and (iii) the rights (charter and statutory),

    	 	A-15	 

     

    

licenses and franchises of the Company and each of its subsidiaries; provided, however,
that the Company will not be required to preserve the existence (corporate or other) of any
of its subsidiaries or any such right, license or franchise of the Company or any of its subsidiaries if the Board of Directors of the
Company determines that the preservation thereof is no longer desirable in the conduct of
the business of the Company and its subsidiaries taken as a whole and that the loss thereof will not be disadvantageous in any
material respect to the Noteholders.

(e)             
Maintenance of Properties. The Company will, and will cause each of its subsidiaries to, cause
all its properties used or useful in the conduct of its business to be maintained and kept in good condition, repair and working order
and supplied with all necessary equipment and will cause to be made all necessary repairs, renewals, replacements, betterments and improvements
thereof, all as in the judgment of the Company may be necessary so that the business carried on
in connection therewith may be properly conducted at all times; provided, however, that nothing in this Section will prevent
the Company or any of its subsidiaries from discontinuing the operation and maintenance of
any of their respective properties if such discontinuance is, in the judgment of the Board of Directors of the Company or of any of
its subsidiaries, as the case may be, desirable in the conduct of its business.

(f)             
Waiver of Certain Covenants. The Company may omit in any particular instance to comply with
any term, provision or condition set forth in Section 8(a), Section 8(b),
or Section 8(c) above, with respect to this Subordinated Note
if before the time for such compliance the Noteholders of at least a majority in principal amount of the outstanding Subordinated
Notes, by act of such Noteholders, either will waive such compliance in such instance or generally
will have waived compliance with such term, provision or condition, but no such waiver will extend to or affect such term, provision or
condition except to the extent so expressly waived, and, until such waiver will become effective,
the obligations of the Company in respect of any such term, provision or condition will remain in full force and effect.

(g)            
Company Statement as to Compliance. The Company will deliver to the Noteholders, within 120
days after the end of each fiscal year, a Certificate of the President covering the preceding calendar year, stating whether or not, to
the best of his or her knowledge, the Company is in default in the performance and observance of any of the terms,
provisions and conditions of this Subordinated Note (without regard to notice requirements or periods of
grace) and if the Company will be in default, specifying all such defaults and the nature and status thereof of which he or she
may have knowledge.

(h)            
Tier 2 Capital. If all or any portion of the Subordinated Notes ceases to be deemed to be
Tier 2 Capital, other than due to the limitation imposed on the capital treatment of subordinated debt during the five years immediately
preceding the Stated Maturity of the Subordinated Notes, the Company will immediately notify the Noteholders and thereafter the Company
and the Noteholders will work together in good faith to execute and deliver all agreements as reasonably necessary and acceptable in order
to restructure the applicable portions of the obligations evidenced by the Subordinated Notes to qualify as Tier 2 Capital; provided,
however, that nothing contained in this Section 8(h) shall limit the Company’s right to redeem the Subordinated Notes
upon the occurrence of a Tier 2 Capital Event pursuant to Section 4(a) or Section 4(b).

    	 	A-16	 

     

    

(i)              
Compliance with Laws. The Company shall comply, and cause each of
its subsidiaries to comply, with the requirements of all laws, regulations, orders and decrees applicable to it or its properties,
except for such noncompliance that would not reasonably be expected to result in a Material Adverse Effect (as such term is defined in
the Purchase Agreement) (i) in the condition (financial or otherwise), or in the earnings of the Company or the respective subsidiary,
whether or not arising in the ordinary course of business, or (ii) on the ability of the Company or the respective subsidiary, to perform
its obligations under this Subordinated Note.

(j)              
Taxes and Assessments. The Company shall pay when due and discharge all material taxes, assessments,
and other governmental charges or levies imposed upon it or upon its income or upon any of its properties; provided, however, that
no such taxes, assessments or other governmental charges need be paid if they are being contested in good faith by the Company.

9.               
Negative Covenants of the Company.

(a)             
Limitation on Dividends. The Company shall not declare or pay any dividend or make any distribution
on capital stock or other equity securities of any kind of the Company if the Company is not “well capitalized” for regulatory
capital purposes under Section 225.2(r) of Regulation Y immediately prior to the declaration of and after giving effect to such dividend
or distribution, except for dividends payable solely in shares of common stock of the Company.

(b)            
Merger or Sale of Assets. The Company shall not merge into another entity, effect a Change
in Bank Control (as defined below) or convey, transfer or lease substantially all of its properties and assets to any person, unless:

(i)              
the continuing entity into which the Company is merged or the person which acquires by conveyance
or transfer or which leases substantially all of the properties and assets of the Company shall be a corporation, association or other
legal entity organized and existing under the laws of the United States of America, any State thereof or the District of Columbia and
either expressly or as a matter of law assumes the due and punctual payment of the principal of and any premium and interest on the Subordinated
Notes according to their terms, and the due and punctual performance of all covenants and conditions hereof on the part of the Company
to be performed or observed; and

(ii)            
immediately after giving effect to such transaction, no Event of Default, and no event which, after
notice or lapse of time or both, would become an Event of Default, shall have happened and be continuing.

“Change
in Bank Control” means the sale, transfer, lease or conveyance by the Company, or an issuance
of stock by the Bank, resulting in ownership by the Company of less than eighty percent (80%) of the Bank.

10.            
Denominations. The Subordinated Notes are issuable only in registered form without interest
coupons in minimum denominations of $1,000 and integral multiples of $1,000 in excess thereof. 

11.            
Charges and Transfer Taxes. No service charge will be made for any registration of transfer
or exchange of this Subordinated Note, or any redemption or repayment of this 

    	 	A-17	 

     

    

Subordinated Note, or any conversion or exchange of this
Subordinated Note for other types of securities or property, but the Company may require payment of a sum sufficient to pay all taxes,
assessments or other governmental charges that may be imposed in connection with the transfer or exchange of this Subordinated Note from
Noteholder requesting such transfer or exchange.

12.            
Payment Procedures. Payment of the principal and interest payable on the Stated Maturity will
be made by check or by wire transfer in immediately available funds to a bank account in the United States designated by Noteholder if
such Noteholder shall have previously provided wire instructions or by Automated Clearing House (ACH) to the Company, upon presentation
and surrender of this Subordinated Note at the Payment Office (as defined in Section 21 below) or at such other place or places
as the Company shall designate by notice to the Noteholders as the Payment Office, provided that this Subordinated Note is presented to
the Company in time for the Company to make such payments in such funds in accordance with its normal procedures. Payments of interest
(other than interest payable on the Stated Maturity) shall be made by wire transfer in immediately available funds or check mailed to
the registered Noteholder of this Subordinated Note, as such person’s address appears on the Security Register (as defined below).
Interest payable on any Interest Payment Date shall be payable to the Noteholder in whose name this Subordinated Note is registered at
the close of business on the fifteenth calendar day prior to the applicable Interest Payment Date, without regard to whether such date
is a Business Day (such date being referred to herein as the “Regular Record Date”), except that interest not paid
on the Interest Payment Date, if any, will be paid to the Noteholder in whose name this Subordinated Note is registered at the close of
business on a special record date fixed by the Company (a “Special Record Date”), notice of which shall be given to
Noteholder not less than 10 calendar days prior to such Special Record Date (the Regular Record Date and Special Record Date are referred
to herein collectively as the “Record Dates”). To the extent permitted by applicable law, interest shall accrue, at
the rate at which interest accrues on the principal of this Subordinated Note, on any amount of principal or interest on this Subordinated
Note not paid when due. All payments on this Subordinated Note shall be applied first against interest due hereunder; and then against
principal due hereunder. Noteholder acknowledges and agrees that the payment of all or any portion of the outstanding principal amount
of this Subordinated Note and all interest hereon shall be pari passu in right of payment and in all other respects to the other
Subordinated Notes. In the event that Noteholder of this Subordinated Note receives payments in excess of its pro rata share of the Company’s
payments to the Noteholders of all of the Subordinated Notes, then the Noteholder of this Subordinated Note shall hold in trust all such
excess payments for the benefit of the Noteholders of the other Subordinated Notes and shall pay such amounts held in trust to such other
Noteholders upon demand by such Noteholders.

13.            
Form of Payment. Payments of principal and interest on this Subordinated Note shall be made
in such coin or currency of the United States of America as at the time of payment shall be legal tender for the payment of public and
private debts.

14.            
Registration of Transfer, Security Register. Except as otherwise provided herein, this Subordinated
Note is transferable in whole or in part, and may be exchanged for a like aggregate principal amount of Subordinated Notes of other authorized
denominations, by Noteholder in person, or by his or her attorney duly authorized in writing, at the Payment Office. The Company shall
maintain a register providing for the registration of the Subordinated Notes and any exchange or transfer thereof (the “Security
Register”). Upon surrender or presentation of 

    	 	A-18	 

     

    

this Subordinated Note for exchange or registration of transfer, the Company
shall execute and deliver in exchange therefor a Subordinated Note or Subordinated Notes of like aggregate principal amount, each in
a minimum denomination of $1,000 or any amount in excess thereof which is an integral multiple
of $1,000 (and, in the absence of an opinion of counsel satisfactory to the Company to the contrary, bearing the restrictive legend(s)
set forth hereinabove) and that is or are registered in such name or names requested by Noteholder. Any Subordinated Note presented or
surrendered for registration of transfer or for exchange shall be duly endorsed and accompanied by a written instrument of transfer in
such form as is attached hereto and incorporated herein, duly executed by Noteholder or its attorney duly authorized in writing, with
such tax identification number or other information for each person in whose name a Subordinated Note is to be issued, and accompanied
by evidence of compliance with any restrictive legend(s) appearing on such Subordinated Note or Subordinated Notes as the Company may
reasonably request to comply with applicable law. No exchange or registration of transfer of this Subordinated Note shall be made on
or after (i) the fifteenth day immediately preceding the Stated Maturity or (ii) the due delivery of notice of redemption.

15.            
Priority. The Subordinated Notes rank pari passu among themselves and pari passu,
in the event of any insolvency proceeding, dissolution, assignment for the benefit of creditors, reorganization, restructuring of debt,
marshaling of assets and liabilities or similar proceeding or any liquidation or winding up of the Company, with all other present or
future unsecured subordinated debt obligations of the Company, except any unsecured subordinated debt that, pursuant to its express terms,
is senior or subordinate in right of payment to the Subordinated Notes.

16.            
Ownership. Prior to due presentment of this Subordinated Note for registration of transfer,
the Company may treat the Noteholder in whose name this Subordinated Note is registered in the Security Register as the absolute owner
of this Subordinated Note for receiving payments of principal and interest on this Subordinated Note and for all other purposes whatsoever,
whether or not this Subordinated Note be overdue, and the Company shall not be affected by any notice to the contrary.

17.            
Waiver and Consent. 

(a)             
Any consent or waiver given by the Noteholder of this Subordinated Note shall be conclusive and binding
upon such Noteholder and upon all future Noteholders of this Subordinated Note and of any Subordinated Note issued upon the registration
of transfer hereof or in exchange therefor or in lieu hereof, whether or not notation of such consent or waiver is made upon this Subordinated
Note. No delay or omission of Noteholder to exercise any right or remedy accruing upon any Event of Default shall impair such right or
remedy or constitute a waiver of any such Event of Default or an acquiescence therein. Any insured depository institution which shall
be a Noteholder or which otherwise shall have any beneficial ownership interest in this Subordinated Note shall, by its acceptance of
such Subordinated Note (or beneficial interest therein), be deemed to have waived any right of offset with respect to the indebtedness
evidenced thereby.

(b)            
No waiver or amendment of any term, provision, condition, covenant or agreement in the Subordinated
Notes shall be effective except with the consent of the holders of more than 50% in aggregate principal amount (excluding any Subordinated
Notes held by Company or any 

    	 	A-19	 

     

    

of its Affiliates) of the Subordinated Notes at the time outstanding; provided, however, that
without the consent of each Noteholder of an affected Subordinated Note, no such amendment or waiver may: (i) reduce the principal amount
of any Subordinated Note; (ii) reduce the rate of or change the time for payment of interest on any Subordinated Note; (iii) extend the
maturity of any Subordinated Note, (iv) change the currency in which payment of the obligations of Company under the Subordinated Notes
are to be made; (v) lower the percentage of aggregate principal amount of outstanding Subordinated Notes required to approve any amendment
of the Subordinated Notes, (vi) make any changes to Section 7 (Failure to Make Payments) of the Subordinated Notes that adversely
affects the rights of any Noteholder; or (vii) disproportionately affect any of the Noteholders of the then outstanding Subordinated
Notes. Notwithstanding the foregoing, Company may amend or supplement the Subordinated Notes without the consent of the Noteholders to
cure any immaterial ambiguity, defect or inconsistency or to provide for uncertificated Subordinated Notes in addition to or in place
of certificated Subordinated Notes, or to make any change that does not adversely affect the rights of any Noteholder. No failure to
exercise or delay in exercising, by any Noteholder, of any right, power or privilege hereunder shall operate as a waiver thereof, nor
shall any single or partial exercise of any right, power or privilege preclude any other or further exercise thereof, or the exercise
of any other right or remedy provided by law. The rights and remedies provided in this Subordinated Note are cumulative and not exclusive
of any right or remedy provided by law or equity. No notice or demand on Company in any case shall, in itself, entitle Company to any
other or further notice or demand in similar or other circumstances or constitute a waiver of the rights of Noteholders to any other
or further action in any circumstances without notice or demand. No consent or waiver, expressed or implied, by Noteholders to or of
any breach or default by Company in the performance of its obligations hereunder shall be deemed or construed to be a consent or waiver
to or of any other breach or default in the performance of the same or any other obligations of Company hereunder. Failure on the part
of the Noteholders to complain of any acts or failure to act or to declare an Event of Default, irrespective of how long such failure
continues, shall not constitute a waiver by the Noteholders of their rights hereunder or impair any rights, powers or remedies on account
of any breach or default by Company.

18.            
Absolute and Unconditional Obligation of the Company. No provisions of this Subordinated Note
shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal and interest on this Subordinated
Note at the times, places and rate, and in the coin or currency, herein prescribed.

19.            
Successors and Assigns. This Subordinated Note shall be binding upon the Company and inure
to the benefit of the Noteholder and its respective successors and permitted assigns. The Noteholder may assign all, or any part of, or
any interest in, the Noteholder’s rights and benefits hereunder as permitted under applicable law. To the extent of any such assignment,
such assignee shall have the same rights and benefits against the Company and shall agree to be bound by and to comply with the terms
and conditions of the Purchase Agreement as it would have had if it were the Noteholder hereunder.

20.            
No Sinking Fund; Convertibility. This Subordinated Note is not entitled to the benefit of
any sinking fund. This Subordinated Note is not convertible into or exchangeable for any of the equity securities, other securities or
assets of the Company or any of its subsidiaries.

    	 	A-20	 

     

    

21.            
No Recourse Against Others. No recourse under or upon any obligation, covenant or agreement
contained in this Subordinated Note, or for any claim based thereon or otherwise in respect thereof, will be had against any past, present
or future shareholder, employee, officer, or director, as such, of the Company or of any predecessor or successor, either directly or
through the Company or any predecessor or successor, under any rule of law, statute or constitutional provision or by the enforcement
of any assessment or by any legal or equitable proceeding or otherwise, all such liability being expressly waived and released by the
acceptance of this Subordinated Note by Noteholder and as part of the consideration for the issuance of this Subordinated Note. However,
nothing in this Section 20 shall operate to release, discharge or waive the obligations of all directors of the Company to perform
their respective fiduciary obligations in accordance with applicable law.

22.            
Notices. All notices to the Company under this Subordinated Note shall be in writing and addressed
to the Company at 109 East Division, Sparta, Michigan 49345, Attention: Chief
Financial Officer, or to such other address as the Company may notify to the Holder (the “Payment Office”).
All notices to the Noteholders shall be in writing and sent by first-class mail to each Noteholder at his or its address as set forth
in the Security Register.

23.            
Further Issues. The Company may, without the consent of the Noteholders of the Subordinated
Notes, create and issue additional notes having the same terms and conditions of the Subordinated Notes (except for the Issue Date and
issue price) so that such further notes shall be consolidated and form a single series with the Subordinated Notes. 

24.            
Governing Law; Interpretation. THIS SUBORDINATED NOTE WILL BE DEEMED TO BE A CONTRACT MADE
UNDER THE LAWS OF THE STATE OF MICHIGAN AND WILL BE GOVERNED BY, AND CONSTRUED IN ACCORDANCE WITH, THE LAWS OF THE STATE OF MICHIGAN WITHOUT
REGARD TO CONFLICT OF LAW PRINCIPLES THEREOF. THIS SUBORDINATED NOTE IS INTENDED TO MEET THE CRITERIA FOR QUALIFICATION OF THE OUTSTANDING
PRINCIPAL AS TIER 2 CAPITAL UNDER THE REGULATORY GUIDELINES OF THE FEDERAL RESERVE, AND THE TERMS HEREOF SHALL BE INTERPRETED IN A MANNER
TO SATISFY SUCH INTENT.

 

[Signature Page Follows]

 

    	 	A-21	 

     

    

IN WITNESS WHEREOF, the
undersigned has caused this Subordinated Note to be duly executed and attested.

	 	CHOICEONE FINANCIAL SERVICES, INC.
	 	 	 	 
	 	By:	 
	 	Name:	 Kelly J. Potes	 
	 	Title:	 Chief Executive Officer

 

	ATTEST:	 
	 	 
	 	 
	Name: Adom J. Greenland	 
	Title: Chief Operating Officer  	 

 

 

 

    	 	A-22	 

     

    

PAYING
AGENT’S/REGISTRAR’S CERTIFICATE OF AUTHENTICATION

This is one of the Subordinated Notes of ChoiceOne
Financial Services, Inc. referred to in the Subordinated Note Purchase Agreement, dated as of the date upon which this Subordinated Note
was originally issued, between the Company and the several purchasers of the Subordinated Notes identified in the signature pages thereto.

UMB BANK, NATIONAL ASSOCIATION

as Paying Agent/Registrar

 

 

	By:	 	 
	Name:	Damien Daley	 
	Title:	Vice President	 
	
     Dated:
	
     

    
	 

 

 

 

 

 

 

 

 

    	 	A-23	 

     

    

ASSIGNMENT FORM

 

To assign this Subordinated Note, fill in the
form below: (I) or (we) assign and transfer this Subordinated Note to:

	 

(Print or type assignee’s name, address and
zip code)

 

 

	 

(Insert assignee’s social security or tax I.D.
No.)

 

and irrevocably appoint _______________________ agent
to transfer this Subordinated Note on the books of the Company. The agent may substitute another
to act for him.

 

	Date: __________________________	
    Your
    signature: ___________________________________

    (Sign exactly as your name appears on the face of this Subordinated Note)

     

    Tax Identification No: ____________________________

 

 

	Signature Guarantee:	 

(Signatures
must be guaranteed by an eligible guarantor institution (banks, stockbrokers, savings and
loan associations and credit unions with membership in an approved signature guarantee medallion program), pursuant to Rule 17Ad-15 of
the Securities Exchange Act of 1934, as amended (the “Exchange Act”)).

 

The undersigned certifies
that it [is / is not] an Affiliate of the Company and that, to its knowledge, the proposed transferee
[is / is not] an Affiliate of the Company.

 

In
connection with any transfer or exchange of this Subordinated Note occurring prior to the date that is one year after the later
of the date of original issuance of this Subordinated Note and the last date, if any, on which this Subordinated Note was owned by the
Company or any Affiliate of the Company, the undersigned confirms that this Subordinated Note is
being:

 

CHECK ONE BOX BELOW

	 	(1)	 ̈	acquired for the undersigned’s own account, without transfer;
	 	 	 	 
	 	(2)	 ̈	transferred to the Company;
	 	 	 	 
	 	(3)	 ̈	transferred in accordance and in compliance with Rule 144A under the Securities Act of 1933, as amended (the “Securities Act”);
	 	 	 	 
	

    	 	A-24	 

     

    
	 	(4)	 ̈	transferred under an effective registration statement under the Securities Act;
	 	 	 	 
	 	(5)	 ̈	transferred in accordance with and in compliance with Regulation S under the Securities Act;
	 	 	 	 
	 	(6)	 ̈	transferred to an institutional “accredited investor” (as defined in Rule 501(a)(1), (2), (3) or (7) under the Securities Act) or an “accredited investor” (as defined in Rule 501(a)(4) under the Securities Act), that has furnished a signed letter containing certain representations and agreements; or
	 	 	 	 
	 	(7)	 ̈	transferred in accordance with another available exemption from the registration requirements of the Securities Act.

 

Unless one of the boxes is checked, the Company
will refuse to register this Subordinated Note in the name of any person other than the registered
holder thereof; provided, however, that if box (5), (6) or (7) is checked, the Company may require, prior to registering
any such transfer of this Subordinated Note, in its sole discretion, such legal opinions, certifications
and other information as the Company may reasonably request to confirm that such transfer is being made pursuant to an exemption
from, or in a transaction not subject to, the registration requirements of the Securities Act such as the exemption provided by Rule 144
under such Act.

	Signature:	 

 

 

	Signature Guarantee:	 

(Signatures must be guaranteed by an eligible
guarantor institution (banks, stockbrokers, savings and loan associations and credit unions with membership in an approved signature guarantee
medallion program), pursuant to Exchange Act Rule 17Ad-l5).

 

TO BE COMPLETED BY PURCHASER IF BOX (1) OR (3) ABOVE
IS CHECKED.

 

The
undersigned represents and warrants that it is purchasing this Subordinated Note for its own account or an account with respect
to which it exercises sole investment discretion and that it and any such account is a “qualified institutional buyer” within
the meaning of Rule 144A under the Securities Act, and is aware that the sale to it is being made in reliance on
Rule 144A and acknowledges that it has received such information regarding the Company as the undersigned has requested pursuant
to Rule 144A or has determined not to request such information and that it is aware that the transferor is relying upon the undersigned’s
foregoing representations in order to claim the exemption from registration provided by Rule 144A.

 

	Date:__________________________	Signature:____________________________________

 

 

    	 	A-25EX-10.1

 EXHIBIT 10.1 

364-DAY REVOLVING CREDIT AGREEMENT 

dated as of 
 September 7,
2021 
 among 
 ENTERPRISE
PRODUCTS OPERATING LLC, 
 as Borrower 

The Lenders Party Hereto 

CITIBANK, N.A., 
 as Administrative
Agent 
 WELLS FARGO BANK, NATIONAL ASSOCIATION, JPMORGAN CHASE BANK, 

N.A., MIZUHO BANK, LTD., MUFG BANK, LTD., and TRUIST BANK, 

as Co-Syndication Agents 

BARCLAYS BANK PLC, ROYAL BANK OF CANADA, 

SUMITOMO MITSUI BANKING CORPORATION, 

THE BANK OF NOVA SCOTIA, HOUSTON BRANCH and 

THE TORONTO-DOMINION BANK, NEW YORK BRANCH, 

as Co-Documentation Agents 

 
  

CITIBANK, N.A., WELLS FARGO SECURITIES, LLC, 

BARCLAYS BANK PLC, INC., J.P. MORGAN SECURITIES LLC, MIZUHO BANK, LTD., 

MUFG BANK, LTD. RBC CAPITAL MARKETS, 

SUMITOMO MITSUI BANKING CORPORATION, 

TD SECURITIES (USA) LLC, THE BANK OF NOVA SCOTIA, and 

TRUIST SECURITIES, INC. 
 as Joint
Lead Arrangers and Joint Bookrunners 
 $1,500,000,000 364-Day Revolving Credit Facility 

 

 TABLE OF CONTENTS 
  

							
	 ARTICLE I Definitions
	  	 	1	 
			
	 SECTION 1.01.
	 	Defined Terms	  	 	1	 
	 SECTION 1.02.
	 	Classification of Loans and Borrowings	  	 	26	 
	 SECTION 1.03.
	 	Terms Generally	  	 	26	 
	 SECTION 1.04.
	 	Accounting Terms; GAAP	  	 	26	 
	 SECTION 1.05.
	 	Rates	  	 	27	 
	 SECTION 1.06.
	 	Divisions	  	 	28	 
		
	 ARTICLE II The Credits
	  	 	28	 
			
	 SECTION 2.01.
	 	Commitments	  	 	28	 
	 SECTION 2.02.
	 	Loans and Borrowings	  	 	29	 
	 SECTION 2.03.
	 	Requests for Borrowings	  	 	29	 
	 SECTION 2.04.
	 	Reserved	  	 	30	 
	 SECTION 2.05.
	 	Reserved	  	 	30	 
	 SECTION 2.06.
	 	Reserved	  	 	30	 
	 SECTION 2.07.
	 	Funding of Borrowings	  	 	30	 
	 SECTION 2.08.
	 	Interest Elections	  	 	31	 
	 SECTION 2.09.
	 	Termination and Reduction of Commitments	  	 	32	 
	 SECTION 2.10.
	 	Repayment of Loans; Evidence of Debt	  	 	32	 
	 SECTION 2.11.
	 	Prepayment of Loans	  	 	33	 
	 SECTION 2.12.
	 	Fees	  	 	33	 
	 SECTION 2.13.
	 	Interest	  	 	34	 
	 SECTION 2.14.
	 	Alternate Rate of Interest	  	 	35	 
	 SECTION 2.15.
	 	Illegality; Increased Costs	  	 	37	 
	 SECTION 2.16.
	 	Break Funding Payments	  	 	38	 
	 SECTION 2.17.
	 	Taxes	  	 	39	 
	 SECTION 2.18.
	 	Payments Generally; Pro Rata Treatment; Sharing of Set-offs	  	 	42	 
	 SECTION 2.19.
	 	Mitigation Obligations; Replacement of Lenders	  	 	44	 
	 SECTION 2.20.
	 	Separateness	  	 	44	 
	 SECTION 2.21.
	 	Defaulting Lenders	  	 	45	 
		
	 ARTICLE III Representations and Warranties
	  	 	47	 
			
	 SECTION 3.01.
	 	Organization; Powers	  	 	47	 
	 SECTION 3.02.
	 	Authorization; Enforceability	  	 	47	 
	 SECTION 3.03.
	 	Governmental Approvals; No Conflicts	  	 	47	 
	 SECTION 3.04.
	 	Financial Condition	  	 	47	 
	 SECTION 3.05.
	 	Litigation and Environmental Matters	  	 	47	 
	 SECTION 3.06.
	 	Compliance with Laws	  	 	48	 
	 SECTION 3.07.
	 	Investment Company Status	  	 	48	 
	 SECTION 3.08.
	 	Taxes	  	 	48	 
	 SECTION 3.09.
	 	ERISA	  	 	48	 
	 SECTION 3.10.
	 	Disclosure	  	 	48	 
	 SECTION 3.11.
	 	Reserved	  	 	48	 
	 SECTION 3.12.
	 	Margin Securities	  	 	49	 
	 SECTION 3.13.
	 	Anti-Corruption Laws; Sanctions Laws and Regulations	  	 	49	 
		
	 ARTICLE IV Conditions
	  	 	49	 

  
 i 

							
	 SECTION 4.01.
	 	Effective Date	  	 	49	 
	 SECTION 4.02.
	 	Each Credit Event	  	 	51	 
		
	 ARTICLE V Affirmative Covenants
	  	 	51	 
			
	 SECTION 5.01.
	 	Financial Statements and Other Information	  	 	51	 
	 SECTION 5.02.
	 	Notices of Material Events	  	 	52	 
	 SECTION 5.03.
	 	Existence; Conduct of Business	  	 	52	 
	 SECTION 5.04.
	 	Maintenance of Properties; Insurance	  	 	52	 
	 SECTION 5.05.
	 	Books and Records; Inspection Rights	  	 	53	 
	 SECTION 5.06.
	 	Compliance with Laws	  	 	53	 
	 SECTION 5.07.
	 	Use of Proceeds	  	 	53	 
	 SECTION 5.08.
	 	Environmental Matters	  	 	53	 
	 SECTION 5.09.
	 	ERISA Information	  	 	54	 
	 SECTION 5.10.
	 	Taxes	  	 	54	 
		
	 ARTICLE VI Negative Covenants
	  	 	54	 
			
	 SECTION 6.01.
	 	Reserved	  	 	54	 
	 SECTION 6.02.
	 	Liens	  	 	55	 
	 SECTION 6.03.
	 	Fundamental Changes	  	 	55	 
	 SECTION 6.04.
	 	Investment Restriction	  	 	55	 
	 SECTION 6.05.
	 	Restricted Payments	  	 	55	 
	 SECTION 6.06.
	 	Restrictive Agreements	  	 	56	 
	 SECTION 6.07.
	 	Financial Condition Covenants	  	 	57	 
		
	 ARTICLE VII Events of Default
	  	 	58	 
		
	 ARTICLE VIII The Administrative Agent
	  	 	60	 
			
	 SECTION 8.01.
	 	The Administrative Agent	  	 	60	 
	 SECTION 8.02.
	 	Erroneous Payments	  	 	62	 
		
	 ARTICLE IX Miscellaneous
	  	 	65	 
			
	 SECTION 9.01.
	 	Notices	  	 	65	 
	 SECTION 9.02.
	 	Waivers; Amendments	  	 	67	 
	 SECTION 9.03.
	 	Expenses; Indemnity; Damage Waiver	  	 	68	 
	 SECTION 9.04.
	 	Successors and Assigns	  	 	69	 
	 SECTION 9.05.
	 	Survival	  	 	72	 
	 SECTION 9.06.
	 	Counterparts; Integration; Effectiveness; Electronic Execution	  	 	72	 
	 SECTION 9.07.
	 	Severability	  	 	74	 
	 SECTION 9.08.
	 	Right of Setoff	  	 	74	 
	 SECTION 9.09.
	 	Governing Law; Jurisdiction; Consent to Service of Process	  	 	74	 
	 SECTION 9.10.
	 	Waiver of Jury Trial	  	 	75	 
	 SECTION 9.11.
	 	Headings	  	 	75	 
	 SECTION 9.12.
	 	Confidentiality	  	 	75	 
	 SECTION 9.13.
	 	Interest Rate Limitation	  	 	76	 
	 SECTION 9.14.
	 	Liability of Manager	  	 	76	 
	 SECTION 9.15.
	 	USA Patriot Act Notice	  	 	76	 
	 SECTION 9.16.
	 	No Advisory or Fiduciary Responsibility	  	 	76	 
	 SECTION 9.17.
	 	Acknowledgement and Consent to Bail-In of EEA Financial Institutions	  	 	77	 
	 SECTION 9.18.
	 	Existing Credit Facility	  	 	77	 

  
 ii 

							
	 SECTION 9.19.
	 	Certain ERISA Matters	  	 	78	 

 SCHEDULES: 
  

					
	Schedule 2.01	  	—	  	Commitments
	Schedule 3.05	  	—	  	Disclosed Matters
	Schedule 6.06	  	—	  	Existing Restrictions

 EXHIBITS: 
 Exhibit A
— Form of Assignment and Assumption 
 Exhibit B — Form of Borrowing Request 

Exhibit C — Form of Interest Election Request 
 Exhibit D-1 — Form of Opinion of Christopher S. Wade, in-house counsel for Borrower and EPD 

Exhibit D-2 — Form of Opinion of Mayer Brown LLP, Borrower’s and EPD’s Counsel 

Exhibit E — Form of Compliance Certificate 
 Exhibit F —
Form of Note 
 Exhibit G-1 — Form of U.S. Tax Compliance Certificate (Foreign Lenders; Not Partnerships) 

Exhibit G-2 — Form of U.S. Tax Compliance Certificate (Foreign Participants; Not Partnerships) 

Exhibit G-3 — Form of U.S. Tax Compliance Certificate (Foreign Participants; Partnerships) 

Exhibit G-4 — Form of U.S. Tax Compliance Certificate (Foreign Lenders; Partnerships) 

 

  
 iii 

 364-DAY REVOLVING CREDIT AGREEMENT dated as of
September 7, 2021, among ENTERPRISE PRODUCTS OPERATING LLC, a Texas limited liability company; the LENDERS party hereto; CITIBANK, N.A., as Administrative Agent; WELLS FARGO BANK, NATIONAL ASSOCIATION, JPMORGAN CHASE BANK, N.A., MIZUHO BANK,
LTD., MUFG BANK, LTD. and TRUIST BANK, as Co-Syndication Agents, BARCLAYS BANK PLC, ROYAL BANK OF CANADA, SUMITOMO MITSUI BANKING CORPORATION, THE BANK OF NOVA SCOTIA, HOUSTON BRANCH and THE TORONTO DOMINION
BANK, NEW YORK BRANCH, as Co-Documentation Agents, and CITIBANK N.A., WELLS FARGO SECURITIES, LLC, BARCLAYS BANK PLC, J.P. MORGAN SECURITIES LLC, MIZUHO BANK, LTD., MUFG BANK, LTD., RBC CAPITAL MARKETS,
SUMITOMO MITSUI BANKING CORPORATION, TD SECURITIES (USA) LLC, THE BANK OF NOVA SCOTIA, HOUSTON BRANCH and TRUIST SECURITIES, INC., as Joint Lead Arrangers and Joint Bookrunners. 

W I T N E S S E T H 
 In
consideration of the mutual covenants and agreements contained herein and 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 agree as follows: 
 ARTICLE I 

Definitions 
 SECTION
1.01. Defined Terms. As used in this Agreement, the following terms have the meanings specified below: 
 “ABR”, when
used in reference to any Loan or Borrowing, refers to a Loan, or Loans, in the case of a Borrowing, which bear interest at a rate determined by reference to the Alternate Base Rate. 

“Administrative Agent” means Citibank, N.A., in its capacity as administrative agent for the Lenders hereunder. 

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

“Affected Financial Institution” means (a) any EEA Financial Institution or (b) any UK Financial
Institution. 
 “Affiliate” means, with respect to a specified Person, another Person that directly, or indirectly
through one or more intermediaries, Controls or is Controlled by or is under common Control with the Person specified. 
 “Agent
Parties” has the meaning assigned to such term in Section 9.01(e). 
 “Agreement” means
this 364-Day Revolving Credit Agreement of even date herewith, among Enterprise Products Operating LLC, a Texas limited liability company; the Lenders party hereto; Citibank, N.A., as Administrative Agent; and
the Co-Syndication Agents and Co-Documentation Agents; as may be amended, extended, supplemented or otherwise modified from time to time. 

  
 1 

 “Alternate Base Rate” means, for any day, a rate per annum equal to the
greatest of (a) the Prime Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day plus 1⁄2 of 1%, and (c) LIBOR
for an Interest Period of one month in effect on such day (or if such day is not a Business Day, the immediately preceding Business Day) plus 1% (provided that clause (c) shall not be applicable during any period in which LIBOR is unavailable
or unascertainable). Any change in the Alternate Base Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or LIBOR shall be effective from and including the effective date of such change in the Prime Rate, the Federal Funds
Effective Rate or LIBOR, respectively. 
 “Announcements” has the meaning assigned to such term in
Section 1.05. 
 “Anti-Corruption Laws” means all laws, rules, and regulations of any
jurisdiction applicable to the Borrower or its Subsidiaries from time to time concerning or relating to bribery or corruption. 

“Applicable Percentage” means, with respect to any Lender, the percentage of the total Commitments represented by such
Lender’s Commitment. If the Commitments have terminated or expired, the Applicable Percentages shall be determined based upon either (i) the Commitments most recently in effect, giving effect to any assignments or (ii) if the Loans
have been converted to Term Loans pursuant to Section 2.01(c), the percentage of the total Term Loans represented by such Lender’s Term Loan.. 

“Applicable Rate” means, for any day, with respect to any Eurodollar Loan, or with respect to the facility fees payable
hereunder, as the case may be (subject to the immediately following paragraph of this defined term), the applicable rate per annum set forth below under the caption “Eurodollar Spread”, “ABR Spread” or “Facility Fee
Rate”, as the case may be, based upon the ratings by Moody’s and/or S&P, respectively, applicable on such date to the Index Debt: 
  

													
	 Index Debt Ratings:

(Moody’s/S&P)
	  	Eurodollar
Spread	 	 	ABR
Spread	 	 	Facility
Fee
Rate	 
	 Category 1 > A2/A
	  	 	0.815	% 	 	 	0.000	% 	 	 	0.060	% 
	 Category 2 A3/A-
	  	 	0.925	% 	 	 	0.000	% 	 	 	0.075	% 
	 Category 3 Baa1/BBB+
	  	 	1.025	% 	 	 	0.025	% 	 	 	0.100	% 
	 Category 4 Baa2/BBB
	  	 	1.125	% 	 	 	0.125	% 	 	 	0.125	% 
	 Category 5 < Baa3/BBB-
	  	 	1.325	% 	 	 	0.325	% 	 	 	0.175	% 

  
 2 

 For purposes of the foregoing, (i) if only one of Moody’s and S&P shall have in effect a
rating for the Index Debt (other than by reason of a change in the rating system of, or unavailability of a ratings by, such rating agencies, as referred to in the last sentence of this paragraph), then the other rating agency shall be deemed to
have established a rating in the same Category as such agency; (ii) if each of Moody’s and S&P shall have in effect a rating for the Index Debt, and such ratings shall fall within different Categories, the Applicable Rate shall be
based on the higher of the two ratings; and (iii) if the ratings established or deemed to have been established by Moody’s and/or S&P for the Index Debt shall be changed (other than as a result of a change in the rating system of
Moody’s or S&P), such change shall be effective as of the date on which it is first announced by the applicable rating agency. Each change in the Applicable Rate shall apply during the period commencing on the effective date of such change
and ending on the date immediately preceding the effective date of the next such change. If the rating system of Moody’s or S&P shall change, or if either such rating agency shall cease to be in the business of rating corporate debt
obligations, the Borrower and the Lenders shall negotiate in good faith to amend this definition to reflect such changed rating system or the unavailability of ratings from such rating agency and, pending the effectiveness of any such amendment, the
Applicable Rate shall be determined by reference to the rating most recently in effect prior to such change or cessation. 

“Arranger” means each Joint Lead Arranger and Joint Bookrunner listed on the cover page hereof. 

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

“Attributable Indebtedness” with respect to any Sale/Leaseback Transaction, means, as at the time of determination, the
present value (discounted at the rate set forth or implicit in the terms of the lease included in such transaction) of the total obligations of the lessee for rental payments (other than amounts required to be paid on account of property taxes,
maintenance, repairs, insurance, assessments, utilities, operating and labor costs and other items that do not constitute payments for property rights) during the remaining term of the lease included in such Sale/Leaseback Transaction (including any
period for which such lease has been extended). In the case of any lease that is terminable by the lessee upon the payment of a penalty or other termination payment, such amount shall be the lesser of the amount determined assuming termination upon
the first date such lease may be terminated (in which case the amount shall also include the amount of the penalty or termination payment, but no rent shall be considered as required to be paid under such lease subsequent to the first date upon
which it may be so terminated) or the amount determined assuming no such termination. 
 “Availability Period” means the
period from and including the Effective Date to but excluding the earlier of the Maturity Date and the date of termination of the Commitments. 

“Available Tenor” means, as of any date of determination and with respect to the then-current Benchmark, as applicable,
(a) if the then-current Benchmark is a term rate, any tenor for such Benchmark or (b) otherwise, any payment period for interest calculated with reference to such Benchmark, as applicable, that is or may be used for determining the length
of an Interest Period pursuant to this Agreement as of such date and not including, for the avoidance of doubt, any tenor for such Benchmark that is then-removed from the definition of “Interest Period” pursuant to
Section 2.14(c)(iv). 

  
 3 

 “Bail-In Action” means the exercise
of any Write-Down and Conversion Powers by the applicable Resolution Authority in respect of any liability of an Affected Financial Institution. 

“Bail-In Legislation” means (a) with respect to any EEA Member Country
implementing Article 55 of Directive 2014/59/EU of the European Parliament and of the Council of the European Union, the implementing law, regulation, rule or requirement for such EEA Member Country from time to time which is described in the EU Bail-In Legislation Schedule and (b) with respect to the United Kingdom, Part I of the United Kingdom Banking Act 2009 (as amended from time to time) and any other law, regulation or rule applicable in the
United Kingdom relating to the resolution of unsound or failing banks, investment firms or other financial institutions or their affiliates (other than through liquidation, administration or other insolvency proceedings). 

“Benchmark” means, initially, USD LIBOR; provided that if a Benchmark Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date have occurred with respect to USD LIBOR or the then-current Benchmark, then “Benchmark” means the applicable Benchmark Replacement
to the extent that such Benchmark Replacement has replaced such prior benchmark rate pursuant to Section 2.14(c)(i). 

“Benchmark Replacement” means, for any Available Tenor, 

(a) with respect to any Benchmark Transition Event or Early Opt-in Election, the first alternative set
forth in the order below that can be determined by the Administrative Agent for the applicable Benchmark Replacement Date: 

(1) the sum of: (A) Term SOFR and (B) the related Benchmark Replacement Adjustment; or if Term SOFR is not available
as provided in the proviso of this definition; 
 (2) the sum of: (A) the alternate benchmark rate that has been
selected by the Administrative Agent and the Borrower as the replacement for the then-current Benchmark for the applicable Corresponding Tenor giving due consideration to (i) any selection or recommendation of a replacement benchmark rate or
the mechanism for determining such a rate by the Relevant Governmental Body or (ii) any evolving or then-prevailing market convention for determining a benchmark rate as a replacement for the then-current Benchmark for Dollar-denominated
syndicated credit facilities at such time and (B) the related Benchmark Replacement Adjustment; 
 provided that, (i) in the case of clause
(a)(1), if the Administrative Agent decides that Term SOFR is not administratively feasible for the Administrative Agent, then Term SOFR will be deemed unable to be determined for purposes of this definition and (ii) in the case of clause
(a)(1) of this definition, the applicable Unadjusted Benchmark Replacement is displayed on a screen or other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion. If the
Benchmark Replacement as determined pursuant to this definition would be less than zero, the Benchmark Replacement will be deemed to be zero for the purposes of this Agreement. 

  
 4 

 “Benchmark Replacement Adjustment” means, with respect to any replacement
of the then-current Benchmark with an Unadjusted Benchmark Replacement for any applicable Interest Period and Available Tenor for any setting of such Unadjusted Benchmark Replacement: 

(1) for purposes of clause (a)(1) of the definition of “Benchmark Replacement,” an amount equal to (A) 0.11448% (11.448 basis points)
for an Available Tenor of one-month’s duration, (B) 0.26161% (26.161 basis points) for an Available Tenor of three-months’ duration and (C) 0.42826% (42.826 basis points) for an Available Tenor of six-months’ duration; and 
 (2) for purposes of clause (a)(2) of the definition of “Benchmark
Replacement,” the spread adjustment, or method for calculating or determining such spread adjustment, (which may be a positive or negative value or zero) that has been selected by the Administrative Agent and the Borrower giving due
consideration to (i) any selection or recommendation of a spread adjustment, or method for calculating or determining such spread adjustment, for the replacement of such Available Tenor of such Benchmark with the applicable Unadjusted Benchmark
Replacement by the Relevant Governmental Body on the applicable Benchmark Replacement Date or (ii) any evolving or then-prevailing market convention for determining a spread adjustment, or method for calculating or determining such spread
adjustment, for the replacement of such Available Tenor of such Benchmark with the applicable Unadjusted Benchmark Replacement for Dollar-denominated syndicated credit facilities. 

“Benchmark Replacement Conforming Changes” means, with respect to any Benchmark Replacement, any technical, administrative or
operational changes (including changes to the definition of “Alternate Base Rate,” the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of
interest, timing of borrowing requests or prepayment, conversion or continuation notices, length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Administrative Agent
decides, in its reasonable discretion (in consultation with the Borrower), may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the Administrative Agent in a manner
substantially consistent with market practice (or, if the Administrative Agent decides, in its reasonable discretion, that adoption of any portion of such market practice is not administratively feasible or if the Administrative Agent determines, in
its reasonable discretion, that no market practice for the administration of such Benchmark Replacement exists, in such other manner of administration as the Administrative Agent decides is reasonably necessary in connection with the administration
of this Agreement). 
 “Benchmark Replacement Date” means the earliest to occur of the following events with respect to the
then-current Benchmark: 
 (a) in the case of clause (a) or (b) of the definition of “Benchmark Transition Event,” the later
of (a) the date of the public statement or publication of information referenced therein and (b) the date on which the administrator of such Benchmark (or the published component used in the calculation thereof) permanently or indefinitely
ceases to provide all Available Tenors of such Benchmark (or such component thereof); 
 (b) in the case of clause (c) of the definition
of “Benchmark Transition Event,” the date of the public statement or publication of information referenced therein; or 

  
 5 

 (c) in the case of an Early Opt-in Election, the
sixth (6th) Business Day after the date notice of such Early Opt-in Election is provided to the Lenders, so long as the Administrative Agent has not
received, by 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Early Opt-in Election is provided to the Lenders,
written notice of objection to such Early Opt-in Election from the Required Lenders. 
 For the avoidance of doubt,
(i) if the event giving rise to the Benchmark Replacement Date occurs on the same day as, but earlier than, the Reference Time in respect of any determination, the Benchmark Replacement Date will be deemed to have occurred prior to the
Reference Time for such determination and (ii) the “Benchmark Replacement Date” will be deemed to have occurred in the case of clause (a) or (b) with respect to any Benchmark upon the occurrence of the applicable event or events
set forth therein with respect to all then-current Available Tenors of such Benchmark (or the published component used in the calculation thereof). 

“Benchmark Transition Event” means the occurrence of one or more of the following events with respect to the
then-current Benchmark: 
 (a) a public statement or publication of information by or on behalf of the administrator of such Benchmark (or
the published component used in the calculation thereof) announcing that such administrator has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof), permanently or indefinitely, provided that, at
the time of such statement or publication, there is no successor administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof); 

(b) a public statement or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published
component used in the calculation thereof), the Board, the Federal Reserve Bank of New York, an insolvency official with jurisdiction over the administrator for such Benchmark (or such component), a resolution authority with jurisdiction over the
administrator for such Benchmark (or such component) or a court or an entity with similar insolvency or resolution authority over the administrator for such Benchmark (or such component), which states that the administrator of such Benchmark (or
such component) has ceased or will cease to provide all Available Tenors of such Benchmark (or such component thereof) permanently or indefinitely, provided that, at the time of such statement or publication, there is no successor
administrator that will continue to provide any Available Tenor of such Benchmark (or such component thereof); or 
 (c) a public statement
or publication of information by the regulatory supervisor for the administrator of such Benchmark (or the published component used in the calculation thereof) announcing that all Available Tenors of such Benchmark (or such component thereof) are no
longer representative. 
 For the avoidance of doubt, a “Benchmark Transition Event” will be deemed to have occurred with respect to any Benchmark
if a public statement or publication of information set forth above has occurred with respect to each then-current Available Tenor of such Benchmark (or the published component used in the calculation thereof). 

“Benchmark Unavailability Period” means the period (if any) (x) beginning at the time that a Benchmark Replacement Date
pursuant to clauses (a) or (b) of that definition has occurred if, at such time, no Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder in accordance with Section 2.14(c) and
(y) ending at the time that a Benchmark Replacement has replaced the then-current Benchmark for all purposes hereunder in accordance with Section 2.14(c). 

  
 6 

 “Beneficial Ownership Certification” means a certification regarding
beneficial ownership as required by the Beneficial Ownership Regulation. 
 “Beneficial Ownership Regulation” means 31 CFR
§ 1010.230. 
 “Benefit Plan” means any of (a) an “employee benefit plan” (as defined in ERISA) that is
subject to Title I of ERISA, (b) a “plan” as defined in and subject to Section 4975 of the Code or (c) any Person whose assets include (for purposes of ERISA Section 3(42) or otherwise for purposes of Title I of ERISA
or Section 4975 of the Code) the assets of any such “employee benefit plan” or “plan”. 
 “Board”
means the Board of Governors of the Federal Reserve System of the United States of America. 
 “Borrower” means Enterprise
Products Operating LLC, a Texas limited liability company. 
 “Borrowing” means Loans of the same Type, made, converted or
continued on the same date and, in the case of Eurodollar Loans, as to which a single Interest Period is in effect. 
 “Borrowing
Request” means a request by the Borrower for a Borrowing in accordance with Section 2.03, and being in the form of attached Exhibit B. 

“Business Day” means any day that is not a Saturday, Sunday or other day on which commercial banks in New York City are
authorized or required by law to remain closed; provided that, when used in connection with a Eurodollar Loan, or any ABR Loan as to which the interest rate is determined by reference to LIBOR, the term “Business Day”
shall also exclude any day that is not a London Banking Day. 
 “CERCLA” means the Comprehensive Environmental, Response,
Compensation, and Liability Act of 1980, as amended. 
 “Change in Control” means the occurrence of any of the following
events: 
 (i) Continuing Directors cease for any reason to constitute collectively a majority of the members of the board of
directors of Manager or Enterprise GP then in office; 
 (ii) any Person or related Persons constituting a group (as such
term is used in Rule 13d-5 under the Securities Exchange Act of 1934, as amended) obtains direct or indirect beneficial ownership interest in the Manager or Enterprise GP greater than the direct or indirect
beneficial ownership interests of EPCO and its Affiliates in the Manager or Enterprise GP; or 

  
 7 

 (iii) Manager and EPD shall cease to own, directly or indirectly, all of the
Equity Interests (including all securities which are convertible into Equity Interests) of Borrower. 
 As used herein, “Continuing
Director” means any member of the board of directors of Manager or Enterprise GP, respectively, who (x) is a member of such board of directors as of the date hereof, or (y) was nominated for election or elected to such board of
directors with the approval of a majority of the Continuing Directors who were members of such board at the time of such nomination or election. 

“Change in Law” means (a) the adoption of any law, rule or regulation after the date of this Agreement, (b) any
change in any law, rule or regulation or in the interpretation or application thereof by any Governmental Authority after the date of this Agreement or (c) compliance by any Lender (or, for purposes of Section 2.15(a),
by any lending office of such Lender or by such Lender’s holding company, if any) with any request, guideline or directive (whether or not having the force of law) of any Governmental Authority made or issued after the date of this Agreement;
provided that notwithstanding anything herein to the contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests, rules, guidelines or directives thereunder or issued in connection therewith and
(y) all requests, rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel Committee on Banking Supervision (or any successor or similar authority) or the United States regulatory authorities, in each
case pursuant to Basel III, shall in each case be deemed to be a “Change in Law”, regardless of the date enacted, adopted, promulgated or issued. 

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

“Commercial Operation Date” means the date on which a Material Project is substantially complete and commercially operable.

 “Commitment” means, with respect to each Lender, the commitment of such Lender to make Loans hereunder, expressed as an
amount representing the maximum aggregate amount of such Lender’s Exposure hereunder, as such commitment may be (a) reduced from time to time pursuant to Section 2.09 and (b) reduced or increased from time to
time pursuant to Section 2.01 or assignments by or to such Lender pursuant to Section 9.04. The initial amount of each Lender’s Commitment is set forth on Schedule 2.01, or in the
Assignment and Assumption pursuant to which such Lender shall have assumed its Commitment, as applicable. The initial aggregate amount of the Lenders’ Commitments as of the Effective Date is $1,500,000,000. 

“Common Units” means the common units of limited partner interests in EPD. 

“Company Agreement” means the Company Agreement of the Borrower dated as of June 30, 2007 between Manager and EPD, as
members, substantially in the form provided to the Lenders, as such Company Agreement may be amended, modified and supplemented from time to time. 

  
 8 

 “Consolidated EBITDA” means for any period, the sum of (a) the
consolidated net income of the Borrower and its consolidated Subsidiaries (excluding Project Finance Subsidiaries) for such period plus, to the extent deducted in determining consolidated net income for such period, the aggregate amount of
(i) Consolidated Interest Expense, (ii) income or gross receipts tax (or franchise tax or margin tax in the nature of an income or gross receipts tax) expense, (iii) depreciation and amortization expense, and (iv) non-cash charges, minus (b) equity in earnings from unconsolidated subsidiaries of the Borrower to the extent included therein, plus (c) the amount of cash dividends or
distributions payable with respect to such period by a Project Finance Subsidiary or an unconsolidated subsidiary which are actually received by the Borrower or a Subsidiary (other than a Project Finance Subsidiary) during such period or on or prior
to the date the financial statements with respect to such period referred to in Section 5.01 are required to be delivered by the Borrower, plus (d) the amount of all payments during such period on leases of the
type referred to in clause (d) of the definition herein of Indebtedness and the amount of all payments during such period under other off-balance sheet loans and financings of the type referred to in such
clause (d), minus (e) the amount of any cash dividends, repayments of loans or advances, releases or discharges of guarantees or other obligations or other transfers of property or returns of capital previously received by the Borrower
or a Subsidiary (other than a Project Finance Subsidiary) from a Project Finance Subsidiary that during such period were either (x) recovered pursuant to recourse provisions with respect to a Project Financing at such Project Finance Subsidiary
or (y) reinvested by the Borrower or a Subsidiary in such Project Finance Subsidiary, minus (f) non-cash gains. 

“Consolidated Indebtedness” means for any date, the Indebtedness of the Borrower and its consolidated Subsidiaries (excluding
Project Finance Subsidiaries) including, without duplication, guaranties of funded debt, determined on a consolidated basis as of such date. 

“Consolidated Interest Expense” means for any period, the interest expense of the Borrower and its consolidated Subsidiaries
(excluding Project Finance Subsidiaries), determined on a consolidated basis for such period. 
 “Consolidated Net Tangible
Assets” means, at any date of determination, the total amount of assets of EPD and its consolidated subsidiaries after deducting therefrom: 

(a) all current liabilities (excluding (A) any current liabilities that by their terms are extendable or renewable at the option of the
obligor thereon to a time more than 12 months after the time as of which the amount thereof is being computed, and (B) current maturities of long-term debt); and 

(b) the value (net of any applicable reserves) of all goodwill, trade names, trademarks, patents and other like intangible assets, all as set
forth, or on a pro forma basis would be set forth, on the consolidated balance sheet of EPD and its consolidated subsidiaries for EPD’s most recently completed fiscal quarter, prepared in accordance with GAAP. 

“Consolidated Net Worth” means as to any Person, at any date of determination, the sum of (i) preferred stock (if any),
(ii) an amount equal to (a) the face amount of outstanding Hybrid Securities not in excess of 15% of Consolidated Total Capitalization times (b) sixty-two and
one-half percent (62.5%), (iii) par value of common stock, (iv) capital in excess of par value of common stock, (v) limited liability company capital or equity, and (vi) retained earnings, less
treasury stock (if any), of such Person, all as determined on a consolidated basis. 
 “Consolidated Total Capitalization”
means the sum of (i) Consolidated Indebtedness and (ii) Borrower’s Consolidated Net Worth. 

  
 9 

 “Control” means the possession, directly or indirectly, of the power to
direct or cause the direction of the management or policies of a Person, whether through the ability to exercise voting power, by contract or otherwise. “Controlling” and “Controlled” have meanings correlative
thereto. 
 “Corresponding Tenor” with respect to any Available Tenor means, as applicable, either a tenor (including
overnight) or an interest payment period having approximately the same length (disregarding business day adjustment) as such Available Tenor. 

“Debt Coverage Ratio” means the ratio of Consolidated Indebtedness to Consolidated EBITDA. 

“Default” means any event or condition which constitutes an Event of Default or which upon notice, lapse of time or both
would, unless cured or waived, become an Event of Default. 
 “Defaulting Lender” means at any time, subject to
Section 2.21(b), (i) any Lender that has failed for two or more Business Days to comply with its obligations under this Agreement to make a Loan or make any other payment due hereunder (each, a “funding
obligation”), (ii) any Lender that has notified the Administrative Agent or the Borrower in writing, or has stated publicly, that it does not intend to comply with its funding obligations hereunder or generally under other agreements in
which it commits to extend credit and has not retracted such statement or announcement, (iii) any Lender that has defaulted on its funding obligations under any other loan agreement or credit agreement or other financing agreement,
(iv) any Lender that has, for three or more Business Days after written request of the Administrative Agent or the Borrower, failed to confirm in writing to the Administrative Agent and the Borrower that it will comply with its prospective
funding obligations hereunder (provided, that such Lender will cease to be a Defaulting Lender pursuant to this clause (iv) upon the Administrative Agent’s and the Borrower’s receipt of such written confirmation), or (v) any
Lender (x) with respect to which a Lender Insolvency Event has occurred and is continuing with respect to such Lender or its Parent Company or (y) that has, or its Parent Company has, become the subject of a
Bail-In Action. Any determination by the Administrative Agent that a Lender is a Defaulting Lender under any of clauses (i) through (v) above will be conclusive and binding absent manifest error, and such
Lender will be deemed to be a Defaulting Lender (subject to Section 2.21(b)) upon notification of such determination by the Administrative Agent to the Borrower and the Lenders. 

“Designated Persons” means a person or entity: (i) listed in the annex to, or otherwise the subject of the provisions
of, any executive order administered by OFAC or the U.S. Department of State or (ii) named as a “Specially Designated National and Blocked Person” or a “Foreign Sanctions Evaders” on the most current list published by OFAC
at its official website or any replacement website or other replacement official publication of such list; or is otherwise the subject of any Sanctions Laws and Regulations. 

“Disclosed Matters” means the actions, suits and proceedings and the environmental matters disclosed in Schedule 3.05. 

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

“Early Opt-in Election” means, if the then-current Benchmark is USD LIBOR, the
occurrence of both: 

  
 10 

 (a) a notification by the Administrative Agent to (or the request by the Borrower to the
Administrative Agent to notify) each of the other parties hereto that at least five currently outstanding Dollar-denominated syndicated credit facilities at such time contain (as a result of amendment or as originally executed) a SOFR-based rate
(including SOFR, a term SOFR or any other rate based upon SOFR) as a benchmark rate (and such syndicated credit facilities are identified in such notice and are publicly available for review), and 

(b) the joint election by the Administrative Agent and the Borrower to trigger a fallback from USD LIBOR and the provision by the
Administrative Agent of written notice of such election to the Lenders. 
 “EEA Financial Institution” means (a) any
credit institution or investment firm established in any EEA Member Country which is subject to the supervision of an EEA Resolution Authority, (b) any entity established in an EEA Member Country which is a parent of an institution described in
clause (a) of this definition, or (c) any financial institution established in an EEA Member Country which is a subsidiary of an institution described in clauses (a) or (b) of this definition and is subject to consolidated supervision
with its parent. 
 “EEA Member Country” means any of the member states of the European Union, Iceland, Liechtenstein, and
Norway. 
 “EEA Resolution Authority” means any public administrative authority or any Person entrusted with public
administrative authority of any EEA Member Country (including any delegee) having responsibility for the resolution of any EEA Financial Institution. 

“Effective Date” means the date on or prior to September 29, 2021 specified in the notice referred to in the last
sentence of Section 4.01. 
 “Electronic Record” has the meaning assigned to that term in, and
shall be interpreted in accordance with, 15 U.S.C. 7006. 
 “Electronic Signature” has the meaning assigned to that term
in, and shall be interpreted in accordance with, 15 U.S.C. 7006. 
 “Enterprise GP” means Enterprise Products Holdings LLC,
a Delaware limited liability company, the general partner of EPD. 
 “Environmental Laws” means all laws, rules,
regulations, codes, ordinances, orders, decrees, judgments, injunctions, notices or binding agreements issued, promulgated or entered into by any Governmental Authority, relating in any way to the environment, preservation or reclamation of natural
resources, the management, release or threatened release of any Hazardous Material or to health and safety matters. 

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

  
 11 

 “EPCO” means Enterprise Products Company, a Texas corporation. 

“EPD” means Enterprise Products Partners L.P., a Delaware limited partnership, any legal successor entity thereto, or any
other Person that is the “Guarantor” as defined in the March 15, 2000 Indenture or any replacement or supplemental indenture. 

“EPD Guaranty Agreement” means an agreement in form and substance satisfactory to the Administrative Agent by EPD
guaranteeing, unconditionally, payment of any principal of or interest on the Loans or any other amount payable under this Agreement, when and as the same shall become due and payable. 

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

“ERISA” means the Employee Retirement Income Security Act of 1974, as amended from time to time and the rules and regulations
promulgated thereunder. 
 “ERISA Affiliate” means any trade or business (whether or not incorporated) that, together with
the Borrower is treated as a single employer under Section 414(b) or (c) of the Code or, solely for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single employer under Section 414 of the Code.

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

“Erroneous Payment” has the meaning assigned to such term in Section 8.02(a). 

“Erroneous Payment Deficiency Assignment” has the meaning assigned to such term in
Section 8.02(d)(i). 

  
 12 

 “Erroneous Payment Impacted Class” has the meaning assigned to such term in
Section 8.02(d)(i). 
 “Erroneous Payment Return Deficiency” has the meaning assigned to such
term in Section 8.02(d)(i). 
 “Erroneous Payment Subrogation Rights” has the meaning assigned to
it in Section 8.02(e). 
 “EU Bail-In Legislation
Schedule” means the EU Bail-In Legislation Schedule published by the Loan Market Association (or any successor person), as in effect from time to time. 

“Eurocurrency Liabilities” has the meaning assigned to that term in Regulation D of the Board as in effect from time to
time. 
 “Eurodollar”, when used in reference to any Loan or Borrowing, refers to a Loan, or Loans, in the case of a
Borrowing, which bear interest at a rate determined by reference to LIBOR. 
 “Eurodollar Rate Reserve Percentage” of any
Lender for any Interest Period for each Eurodollar Borrowing means the reserve percentage applicable during such Interest Period (or if more than one such percentage shall be so applicable, the daily average of such percentages for those days in
such Interest Period during which any such percentage shall be so applicable) under regulations issued from time to time by the Board for determining the maximum reserve requirement (including, without limitation, any emergency, supplemental or
other marginal reserve requirement) for such Lender with respect to liabilities or assets consisting of or including Eurocurrency Liabilities having a term equal to such Interest Period. 

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

“Excluded Taxes” means, with respect to the Administrative Agent, any Lender or any other recipient of any payment to be made
by or on account of any obligation of the Borrower hereunder, (a) income or franchise taxes imposed on (or measured by) its net income by the United States of America, by any state thereof or the District of Columbia or by the jurisdiction
under the laws of which such recipient is organized or in which its principal office is located or, in the case of any Lender, in which its applicable lending office is located or where it is resident or carrying on business, (b) any branch
profits taxes imposed by the United States of America, any state thereof or the District of Columbia or any similar tax imposed by any other jurisdiction in which the Administrative Agent, such Lender or such other recipient is located, (c) in
the case of a Foreign Lender (other than an assignee pursuant to a request by the Borrower under Section 2.19(b)), any United States withholding tax that is imposed on amounts payable to such Foreign Lender at the time such
Foreign Lender becomes a party to this Agreement (or designates a new lending office) or is attributable to such Foreign Lender’s failure to comply with Section 2.17(e), except to the extent that such Foreign Lender
(or its assignor, if any) was entitled, at the time of designation of a new lending office (or assignment), to receive additional amounts from the Borrower with respect to such withholding tax pursuant to Section 2.17(a),
and (d) any U.S. federal withholding Taxes imposed under FATCA. 

  
 13 

 “Existing Credit Facility” means the revolving credit facility of the
Borrower under that certain 364-Day Revolving Credit Agreement dated as of September 8, 2020, among the Borrower, Citibank, N.A., as administrative agent, and the lenders party thereto, together with any
and all amendments and supplements thereto. 
 “Existing Multi-Year Credit Facility” means the revolving credit facility of
the Borrower under that certain Revolving Credit Agreement dated as of September 13, 2017, among the Borrower, Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto, as amended by First Amendment to
Revolving Credit Agreement dated September 10, 2019, together with any and all other amendments and supplements thereto and restatements thereof. 

“Exposure” means, with respect to any Lender at any time, the sum of the outstanding principal amount of such Lender’s
Loans. 
 “FATCA” means the Foreign Account Tax Compliance Act, sections 1471 through 1474 of the Code and any regulations
or official interpretations thereof (other than for purposes of Section 2.17(f), as such Code sections, regulations and official interpretations are in effect as of the date of this Agreement). 

“FCA” has the meaning assigned to such term in Section 1.05. 

“Federal Funds Effective Rate” means, for any day, the weighted average of the rates on overnight Federal funds transactions
with members of the Federal Reserve System, as published on the next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so published for any day that is a Business Day, the average of the quotations for
such day for such transactions received by the Administrative Agent from three Federal funds brokers of recognized standing selected by it. Notwithstanding the foregoing, if the Federal Funds Effective Rate shall be less than zero, such rate shall
be deemed to be zero for purposes of this Agreement. 
 “Financial Officer” means the chief financial officer, principal
accounting officer, treasurer or controller of the Manager on behalf of the Borrower. 
 “Foreign Lender” means any Lender
that is organized under the laws of a jurisdiction other than the United States of America, any state thereof or the District of Columbia. 

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

“Governmental Authority” means the government of the United States of America, any other nation or any political subdivision
thereof, whether state or local, and any agency, authority, instrumentality, regulatory body, court, central bank or other entity exercising executive, legislative, judicial, taxing, regulatory or administrative powers or functions of or pertaining
to government. 
 “Hazardous Materials” means all explosive or radioactive substances or wastes and all hazardous or toxic
substances, wastes or other pollutants, including petroleum or petroleum distillates, asbestos or asbestos containing materials, polychlorinated biphenyls, radon gas, infectious or medical wastes and all other substances or wastes of any nature, in
each case regulated pursuant to any Environmental Law. 

  
 14 

 “Hedging Agreement” means a financial instrument or security which is used
as a cash flow or fair value hedge to manage the risk associated with a change in interest rates, foreign currency exchange rates or commodity prices. 

“Hybrid Securities” means any trust preferred securities, or deferrable interest subordinated debt with a maturity of at
least 20 years, which provides for the optional or mandatory deferral of interest or distributions, issued by the Borrower, or any business trusts, limited liability companies, limited partnerships or similar entities (i) substantially all of
the common equity, general partner or similar interests of which are owned (either directly or indirectly through one or more wholly owned Subsidiaries) at all times by the Borrower or any of its Subsidiaries, (ii) that have been formed for the
purpose of issuing hybrid securities or deferrable interest subordinated debt, and (iii) substantially all the assets of which consist of (A) subordinated debt of the Borrower or a Subsidiary of the Borrower, and (B) payments made
from time to time on the subordinated debt. 
 “IBA” has the meaning assigned to such term in
Section 1.05. 
 “Indebtedness” of any Person means, without duplication, (a) all
obligations of such Person for the repayment of money borrowed which are or should be shown on a balance sheet as debt in accordance with GAAP, (b) obligations of such Person as lessee under leases which, in accordance with GAAP, are capital
leases, (c) guaranties of such Person of payment or collection of any obligations described in clauses (a) and (b) of other Persons; and (d) all obligations of such Person under any synthetic lease, tax retention operating lease, off-balance sheet loan or similar off-balance sheet financing if the obligation under such synthetic lease, tax retention operating lease,
off-balance sheet loan or similar off-balance sheet financing, as the case may be, is considered indebtedness for borrowed money for tax purposes but is classified as an
operating lease in accordance with GAAP; provided, that (i) clauses (a) and (b) include, in the case of obligations of the Borrower or any Subsidiary, only such obligations as are or should be shown as debt or capital lease
liabilities on a consolidated balance sheet of the Borrower in accordance with GAAP, (ii) clause (c) includes, in the case of guaranties granted by the Borrower or any Subsidiary, only such guaranties of obligations of another Person that are
or should be shown as debt or capital lease liabilities on a consolidated balance sheet of such Person in accordance with GAAP, and (iii) the liability of any Person as a general partner of a partnership for Indebtedness of such partnership, if
such partnership is not a Subsidiary of such Person, shall not constitute Indebtedness. 
 “Indemnified Taxes” means Taxes
other than Excluded Taxes. 
 “Index Debt” means senior, unsecured, non-credit
enhanced (except for any guaranty by EPD) Indebtedness of the Borrower. 
 “Information Memorandum” means the Confidential
Information Memorandum dated August, 2021 relating to the Borrower and the Transactions. 
 “Interest Election Request”
means a request by the Borrower to convert or continue a Borrowing in accordance with Section 2.08, and being in the form of attached Exhibit C. 

  
 15 

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

“Interest Period” means with respect to any Eurodollar Borrowing, the period commencing on the date of such Borrowing and
ending on the numerically corresponding day in the calendar month that is one, three or six months thereafter, as the Borrower may elect; provided, that (i) if any Interest Period would end on a day other than a Business Day,
such Interest Period shall be extended to the next succeeding Business Day unless, in the case of a Eurodollar Borrowing only, such next succeeding Business Day would fall in the next calendar month, in which case such Interest Period shall end on
the next preceding Business Day and (ii) any Interest Period pertaining to a Eurodollar Borrowing that commences on the last Business Day of a calendar month (or on a day for which there is no numerically corresponding day in the last calendar
month of such Interest Period) shall end on the last Business Day of the last calendar month of such Interest Period. For purposes of this definition, the date of a Borrowing initially shall be the date on which such Borrowing is made and thereafter
shall be the effective date of the most recent conversion or continuation of such Borrowing. 
 “Lender Insolvency Event”
means that (i) a Lender or its Parent Company is insolvent, or is generally unable to pay its debts as they become due, or admits in writing its inability to pay its debts as they become due, or makes a general assignment for the benefit of its
creditors, or (ii) such Lender or its Parent Company is the subject of a bankruptcy, insolvency, reorganization, liquidation or similar proceeding, or a receiver, trustee, conservator, intervenor or sequestrator or the like has been appointed
for such Lender or its Parent Company, or such Lender or its Parent Company has taken any action in furtherance of or indicating its consent to or acquiescence in any such proceeding or appointment. 

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

“LIBOR” means, subject to the implementation of a Benchmark Replacement in accordance with
Section 2.14(c), 
 (a) for any interest rate calculation with respect to a Eurodollar Loan, the rate of interest
per annum determined on the basis of the rate for deposits in dollars for a period equal to the applicable Interest Period as administered by the ICE Benchmark Administration Limited, a United Kingdom company, or a comparable or successor quoting
service approved by the Administrative Agent, and as displayed on the Reuters screen page that displays such rate, at approximately 11:00 a.m. (London time) two (2) London Banking Days prior to the first day of the applicable Interest Period
and, if, for any reason, such rate is not so published then “LIBOR” shall be determined by the Administrative Agent to be the arithmetic average of the interest rates per annum at which dollar deposits of $5,000,000 and for a maturity
comparable to such Interest Period are offered by the respective principal London offices of the Reference Banks in immediately available funds in the London interbank market at approximately 11:00 a.m. (London time) two (2) London Banking Days
prior to the commencement of such Interest Period, and 

  
 16 

 (b) for any interest rate calculation with respect to an ABR Loan, the rate of interest per
annum determined on the basis of the rate for deposits in dollars for an Interest Period equal to one month (commencing on the date of determination of such interest rate) as administered by the ICE Benchmark Administration Limited, a United Kingdom
company, or a comparable or successor quoting service approved by the Administrative Agent, and as displayed on the Reuters screen page that displays such rate, at approximately 11:00 a.m. (London time) on such date of determination, or, if such
date is not a London Banking Day, then the immediately preceding London Banking Day, and if, for any reason, such rate is not so published then “LIBOR” for such ABR Loan shall be determined by the Administrative Agent to be the arithmetic
average of the interest rates per annum at which dollar deposits of $5,000,000 and for a one month maturity are offered by the respective principal London offices of the Reference Banks in immediately available funds in the London interbank market
at approximately 11:00 a.m. (London time) on such date of determination; 
 provided, with respect to clauses (a) and (b) above, (i) no Reference
Bank shall be obligated or required to provide any such rate, (ii) the Administrative Agent shall receive offered rates from at least two (2) Reference Banks and shall not be required to disclose to the Borrower an individual Reference
Bank’s offered rate or the identity of the Reference Banks providing such rates, and (iii) Borrower agrees that any disclosure by the Administrative Agent to the Borrower of the identity of any Reference Bank and/or any offered rate by any
Reference Bank shall be kept confidential 
 Notwithstanding the foregoing, (x) in no event shall LIBOR (or any Benchmark Replacement therefor) be less
than 0%, and (y) unless otherwise specified in any amendment to this Agreement entered into in accordance with Section 2.14(c), in the event that a Benchmark Replacement with respect to LIBOR is implemented, then all
references herein to LIBOR shall be deemed references to such Benchmark Replacement. 
 “Lien” means, with respect to any
asset, (a) any mortgage, deed of trust, lien, pledge, hypothecation, encumbrance, charge or security interest in, on or of such asset, (b) the interest of a vendor or a lessor under any conditional sale agreement, capital lease or title
retention agreement relating to such asset and (c) in the case of securities, any purchase option, call or similar right of a third party with respect to such securities. For avoidance of doubt, operating leases are not “Liens”. 

“Loans” means the loans made by the Lenders to the Borrower pursuant to Section 2.03. 

“London Banking Day” means any day on which dealings in Dollar deposits are conducted by and between banks in the London
interbank eurodollar market. 
 “Manager” means Enterprise Products OLPGP, Inc., a Delaware corporation. 

“March 15, 2000 Indenture” means that certain Indenture dated as of March 15, 2000, among the
Borrower, EPD and U.S. Bank, National Association, successor-in-interest to Wachovia Bank, National Association, f/k/a First Union National Bank, as Trustee. 

  
 17 

 “Material Adverse Change” means a material adverse change, from that in
effect on December 31, 2020, in the financial condition or results of operations of the Borrower and its consolidated Subsidiaries taken as a whole, as indicated in the most recent quarterly or annual financial statements, except as otherwise
disclosed in the Borrower’s and/or EPD’s filings with the SEC prior to the date hereof. 
 “Material Adverse
Effect” means a material adverse effect on the financial condition or results of operations of the Borrower and its consolidated Subsidiaries taken as a whole, as indicated in the most recent quarterly or annual financial statements. 

“Material Indebtedness” means Indebtedness (other than the Loans), of any one or more of the Borrower and its Subsidiaries
(other than Project Finance Subsidiaries) in an aggregate principal amount exceeding $100,000,000. 
 “Material Project”
means the construction or expansion of any capital project of the Borrower or any of its Subsidiaries, the aggregate capital cost of which exceeds $50,000,000. 

“Material Project EBITDA Adjustments” shall mean, with respect to each Material Project: 

(A) prior to the Commercial Operation Date of a Material Project (but including the fiscal quarter in which such Commercial Operation Date
occurs), a percentage (based on the then-current completion percentage of such Material Project) of an amount to be approved by the Administrative Agent as the projected Consolidated EBITDA of Borrower and its Subsidiaries attributable to such
Material Project for the first 12-month period following the scheduled Commercial Operation Date of such Material Project (such amount to be determined based on customer contracts or tariff-based customers
relating to such Material Project, the creditworthiness of the other parties to such contracts or such tariff-based customers, and projected revenues from such contracts, tariffs, capital costs and expenses, scheduled Commercial Operation Date, oil
and gas reserve and production estimates, commodity price assumptions and other factors deemed appropriate by Administrative Agent), which may, at the Borrower’s option, be added to actual Consolidated EBITDA for the Borrower and its
Subsidiaries for the fiscal quarter in which construction of such Material Project commences and for each fiscal quarter thereafter until the Commercial Operation Date of such Material Project (including the fiscal quarter in which such Commercial
Operation Date occurs, but net of any actual Consolidated EBITDA of the Borrower and its Subsidiaries attributable to such Material Project following such Commercial Operation Date); provided that if the actual Commercial Operation Date does
not occur by the scheduled Commercial Operation Date, then the foregoing amount shall be reduced, for quarters ending after the scheduled Commercial Operation Date to (but excluding) the first full quarter after its Commercial Operation Date, by the
following percentage amounts depending on the period of delay (based on the period of actual delay or then-estimated delay, whichever is longer): (i) 90 days or less, 0%, (ii) longer than 90 days, but not more than 180 days, 25%, (iii) longer
than 180 days but not more than 270 days, 50%, and (iv) longer than 270 days, 100%; and 
 (B) beginning with the first full fiscal
quarter following the Commercial Operation Date of a Material Project and for the two immediately succeeding fiscal quarters, an amount to be approved by the Administrative Agent as the projected Consolidated EBITDA of Borrower and its Subsidiaries
attributable to such Material Project (determined in the same manner as set forth in clause (A) above) for the balance of the four full fiscal quarter period following such Commercial Operation Date, which may, at the Borrower’s option, be
added to actual Consolidated EBITDA for the Borrower and its Subsidiaries for such fiscal quarters. 

  
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 Notwithstanding the foregoing: 

(i) no such additions shall be allowed with respect to any Material Project unless: 

(a) not later than 30 days prior to the delivery of any certificate required by the terms and provisions of
Section 5.01(e) to the extent Material Project EBITDA Adjustments will be made to Consolidated EBITDA in determining compliance with Section 6.07, the Borrower shall have delivered to the
Administrative Agent written pro forma projections of Consolidated EBITDA of the Borrower and its Subsidiaries attributable to such Material Project and 

(b) prior to the date such certificate is required to be delivered, the Administrative Agent shall have approved (such approval
not to be unreasonably withheld) such projections and shall have received such other information and documentation as the Administrative Agent may reasonably request, all in form and substance satisfactory to the Administrative Agent, and 

(ii) the aggregate amount of all Material Project EBITDA Adjustments during any period shall be limited to 15% of the total actual Consolidated
EBITDA of the Borrower and its Subsidiaries for such period (which total actual Consolidated EBITDA shall be determined without including any Material Project EBITDA Adjustments). 

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

“Maturity Date” means the date 364 days after the Effective Date; provided, if the Borrower has elected the Term-Out option in accordance with Section 2.01(c), “Maturity Date” shall mean the date one year and 364 days after the Effective Date (the “Term Loan Maturity
Date”); provided, however, in either case, if such date is not a Business Day, then the Maturity Date shall be the Business Day immediately preceding such date. 

“Moody’s” means Moody’s Investors Service, Inc. 

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

“Multi-Year Credit Facility” means the revolving credit facility of the Borrower under that certain Revolving Credit
Agreement of even date herewith, among the Borrower, Wells Fargo Bank, National Association, as administrative agent, and the lenders party thereto, together with any and all other amendments and supplements thereto. 

“Non-Defaulting Lender” means, at any time, a Lender that is not a Defaulting Lender.

 “Notes” means any promissory notes issued by the Borrower pursuant to Section 2.10(e). 

  
 19 

 “OFAC” means The Office of Foreign Assets Control of the U.S. Department of
the Treasury. 
 “Other Taxes” means any and all present or future stamp or documentary taxes or any other excise or
property taxes, charges or similar levies arising from any payment made hereunder or from the execution, delivery or registration of, or otherwise with respect to, this Agreement. 

“Parent Company” means, with respect to a Lender (i) the bank holding company (as defined in Federal Reserve Board
Regulation Y) of such Lender, if any, (ii) with respect to a Foreign Lender, any entity which is a parent of such Foreign Lender, and/or (iii) any Person owning, beneficially or of record, directly or indirectly, a majority of the
Equity Interests of such Lender. 
 “Payment Recipient” has the meaning assigned to such term in
Section 8.02(a). 
 “PBGC” means the Pension Benefit Guaranty Corporation referred to and defined
in ERISA and any successor entity performing similar functions. 
 “Permitted Liens” means: 

(a) liens upon rights-of-way for pipeline purposes; 

(b) any statutory or governmental lien or lien arising by operation of law, or any mechanics’, repairmen’s, materialmen’s,
suppliers’, carriers’, landlords’, warehousemen’s or similar lien incurred in the ordinary course of business which is not yet due or which is being contested in good faith by appropriate proceedings and any undetermined lien
which is incidental to construction, development, improvement or repair; or any right reserved to, or vested in, any municipality or public authority by the terms of any right, power, franchise, grant, license, permit or by any provision of law, to
purchase or recapture or to designate a purchaser of, any property; 
 (c) liens for taxes, assessments, charges and levies which are
(i) for the then current year, (ii) not at the time delinquent, or (iii) delinquent but the validity or amount of which is being contested at the time by the Borrower, any Subsidiary or EPD in good faith by appropriate proceedings;

 (d) liens of, or to secure performance of, leases, other than capital leases, or any lien securing industrial development, pollution
control or similar revenue bonds; 
 (e) any lien upon property or assets acquired or sold by the Borrower, any Subsidiary or EPD resulting
from the exercise of any rights arising out of defaults on receivables; 
 (f) any lien in favor of the Borrower, any Subsidiary or EPD; or
any lien upon any property or assets of the Borrower, any Subsidiary or EPD permitted under the March 15, 2000 Indenture, or any replacement indenture containing similar terms and conditions with respect thereto; 

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

  
 20 

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

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

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

(k) any lien upon any property or assets (i) existing thereon at the time of the acquisition thereof by the Borrower, any Subsidiary or
EPD, (ii) existing thereon at the time such Person becomes a Subsidiary by acquisition, merger or otherwise, or (iii) acquired by any Person after the time such Person becomes a Subsidiary by acquisition, merger or otherwise, to the extent
such lien is created by security documents existing at the time such Person becomes a Subsidiary and not added to such security documents in contemplation thereof; 

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

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

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

  
 21 

 “Permitted Sale/Leaseback Transactions” means any Sale/Leaseback
Transaction: 
 (a)    which occurs within one year from the date of completion of the acquisition of the Principal
Property subject thereto or the date of the completion of construction, development or substantial repair or improvement, or commencement of full operations on such Principal Property, whichever is later; or 

(b)    involves a lease for a period, including renewals, of not more than three years; or 

(c)    the Borrower, any Subsidiary or EPD would be entitled to incur Indebtedness, in a principal amount equal to the
Attributable Indebtedness with respect to such Sale/Leaseback Transaction, secured by a Lien on the property subject to such Sale/Leaseback Transaction pursuant to Section 6.02 without equally and ratably securing the
Indebtedness under this Agreement pursuant to such Section; or 
 (d)    the Borrower, any Subsidiary or EPD, within a one-year period after such Sale/Leaseback Transaction, applies or causes to be applied an amount not less than the Attributable Indebtedness from such Sale/Leaseback Transaction to (a) the prepayment,
repayment, redemption, reduction or retirement of any Indebtedness of the Borrower, any Subsidiary or EPD that is not subordinated to the Indebtedness under this Agreement, or (b) the expenditure or expenditures for Principal Property used or
to be used in the ordinary course of business of the Borrower, its Subsidiaries or EPD. 
 Notwithstanding the foregoing provisions of this definition, any
Sale/Leaseback Transaction not covered by clauses (a) through (d), inclusive, of this definition, shall nonetheless be a Permitted Sale/Leaseback Transaction if the Attributable Indebtedness from such Sale/Leaseback Transaction, together with
the aggregate principal amount of outstanding Indebtedness (other than Indebtedness under this Agreement and Indebtedness under the March 15, 2000 Indenture) secured by Liens other than Permitted Liens upon Principal Properties, does not exceed
10% of Consolidated Net Tangible Assets. 
 “Person” means any natural person, corporation, limited liability company,
trust, joint venture, association, company, partnership, Governmental Authority or other entity. 
 “Plan” means any
employee pension benefit plan (other than a Multiemployer Plan) subject to the provisions of Title IV of ERISA or Section 412 of the Code or Section 302 of ERISA, and in respect of which the Borrower or any ERISA Affiliate is (or, if
such plan were terminated, would under Section 4069 of ERISA be deemed to be) an “employer” as defined in Section 3(5) of ERISA. 

“Platform” has the meaning assigned to such term in Section 9.01(e). 

“Prime Rate” means the rate of interest per annum publicly announced from time to time by Citibank, N.A. as its prime rate in
effect. Each change in the Prime Rate shall be effective from and including the date such change is publicly announced as being effective. 

“Principal Property” means whether owned or leased on the date hereof or thereafter acquired: 

  
 22 

 (a)    any pipeline assets of the Borrower, any Subsidiary or EPD,
including any related facilities employed in the transportation, distribution, storage or marketing of refined petroleum products, natural gas liquids, and petrochemicals, that are located in the United States of America or any territory or
political subdivision thereof; and 
 (b)    any processing or manufacturing plant or terminal owned or leased by the
Borrower, any Subsidiary or EPD that is located in the United States or any territory or political subdivision thereof; 
 except, in the
case of either of the foregoing clauses (a) or (b): 
 (i)    any such assets consisting of
inventories, furniture, office fixtures and equipment (including data processing equipment), vehicles and equipment used on, or useful with, vehicles; and 

(ii)    any such assets, plant or terminal which, in the opinion of the Board of Directors (as defined in
the March 15, 2000 Indenture), is not material in relation to the activities of the Borrower or of EPD and its subsidiaries taken as a whole. 

“Program” means the buy-back program initiated by EPD whereby EPD or the Borrower may
after January 31, 2019 buy back up to the number of publicly held Common Units the aggregate purchase price of which is $2,000,000,000. 

“Project Finance Subsidiaries” means a Subsidiary that is (A) created principally to (i) construct or acquire any
asset or project that will be or is financed solely with Project Financing for such asset or project, related equity investments and any loans to, or capital contributions in, such Subsidiary that are not prohibited hereby, (ii) own an Equity
Interest in a Project Finance Subsidiary, and/or (iii) own an interest in any such asset or project and (B) designated as a Project Finance Subsidiary by the Borrower in writing to Administrative Agent. 

“Project Financing” means Indebtedness incurred by a Project Finance Subsidiary to finance the acquisition or construction of
any asset or project which Indebtedness does not permit or provide for recourse against the Borrower or any of its Subsidiaries (other than any Project Finance Subsidiary) and other than recourse that consists of rights to recover dividends paid by
such Project Finance Subsidiary. 
 “PTE” means a prohibited transaction class exemption issued by the U.S. Department of
Labor, as any such exemption may be amended from time to time. 
 “Reference Banks” means Citibank, N.A., and each other
Lender as the Borrower, the Administrative Agent and such Lender shall agree; provided, .any Reference Bank may resign from such role at any time without the consent of the Borrower, the Administrative Agent or any other Person, and any such
resignation shall be effective whether or not a replacement Reference Bank is named. 
 “Reference Time” with respect to
any setting of the then-current Benchmark means (1) if such Benchmark is USD LIBOR, 11:00 a.m. (London time) on the day that is two (2) London Banking Days preceding the date of such setting, and (2) if such Benchmark is not USD
LIBOR, the time determined by the Administrative Agent in its reasonable discretion. 

  
 23 

 “Register” has the meaning set forth in
Section 9.04(c). 
 “Related Parties” means, with respect to any specified Person, such
Person’s Affiliates and the respective directors, officers, employees, agents and advisors of such Person and such Person’s Affiliates. 

“Relevant Governmental Body” means the Board or the Federal Reserve Bank of New York, or a committee officially endorsed or
convened by the Board or the Federal Reserve Bank of New York, or any successor thereto. 
 “Required Lenders” means, at
any time, Lenders having Exposures and unused Commitments representing more than 50% of the sum of the total Exposures and unused Commitments at such time; provided, if the Loans have been converted to Term Loans pursuant to
Section 2.01(c), from and after the effective date of such conversion, “Required Lenders” means Lenders having more than 50% of the aggregate outstanding principal amount of the Term Loans. 

“Resolution Authority” means an EEA Resolution Authority or, with respect to any UK Financial Institution, a UK Resolution
Authority. 
 “Restricted Payment” means any dividend or other distribution (whether in cash, securities or other property)
with respect to any class of Equity Interests of the Borrower, or any payment (whether in cash, securities or other property), including any sinking fund or similar deposit, on account of the purchase, redemption, retirement, acquisition,
cancellation or termination of any Equity Interests of EPD or the Borrower or any option, warrant or other right to acquire any Equity Interests of EPD or the Borrower. 

“Sale/Leaseback Transaction” means any arrangement with any Person providing for the leasing, under a lease that is not a
capital lease under GAAP, by the Borrower, or a Subsidiary (other than a Project Finance Subsidiary) or EPD of any Principal Property, which property has been or is to be sold or transferred by the Borrower, such Subsidiary or EPD to such Person in
contemplation of such leasing. 
 “Sanctions Laws and Regulations” means economic or financial sanctions or trade embargoes
imposed, administered or enforced from time to time by (a) the U.S. government, including those administered by OFAC or the U.S. Department of State, or (b) the United Nations Security Council, the European Union or Her Majesty’s
Treasury of the United Kingdom. 
 “S&P” means Standard & Poor’s Ratings Services, a division of S&P
Global Inc. and any successor thereto. 
 “SEC” has the meaning set forth in Section 5.01(a).

 “SOFR” means, with respect to any Business Day, a rate per annum equal to the secured overnight financing rate for such
Business Day published by the SOFR Administrator on the SOFR Administrator’s Website on the immediately succeeding Business Day. 

“SOFR Administrator” means the Federal Reserve Bank of New York (or a successor administrator of the secured overnight
financing rate). 

  
 24 

 “SOFR Administrator’s Website” means the website of the Federal
Reserve Bank of New York, as of the Effective Date at http://www.newyorkfed.org, or any successor source for the secured overnight financing rate identified as such by the SOFR Administrator from time to time. 

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

“Taxes” means any and all present or future taxes, levies, imposts, duties, deductions, charges or withholdings imposed by
any Governmental Authority. 
 “Term Loans” has the meaning set forth in Section 2.01(c). 

“Term-Out” means Borrower’s election, at its option, to have the entire
principal balance of the Loans then outstanding continued as non-revolving Term Loans as provided in Section 2.01(c). 

“Term SOFR” means, for the applicable Corresponding Tenor as of the applicable Reference Time, the forward-looking term rate
based on SOFR that has been selected or recommended by the Relevant Governmental Body. 
 “Transactions” means the
execution, delivery and performance by the Borrower of this Agreement, the borrowing of Loans and the use of the proceeds thereof. 

“Type”, when used in reference to any Loan or Borrowing, refers to whether the rate of interest on such Loan, or on the Loans
comprising such Borrowing, is determined by reference to LIBOR or the Alternate Base Rate. 
 “UK Financial Institution”
means any BRRD Undertaking (as such term is defined under the PRA Rulebook (as amended from time to time) promulgated by the United Kingdom Prudential Regulation Authority) or any person falling within IFPRU 11.6 of the FCA Handbook (as amended from
time to time) promulgated by the United Kingdom Financial Conduct Authority, which includes certain credit institutions and investment firms, and certain affiliates of such credit institutions or investment firms. 

“UK Resolution Authority” means the Bank of England or any other public administrative authority having responsibility for
the resolution of any UK Financial Institution. 
 “Unadjusted Benchmark Replacement” means the applicable Benchmark
Replacement excluding the related Benchmark Replacement Adjustment. 
 “USD LIBOR” means the London interbank offered rate
for Dollars. 
 “U.S. Tax Compliance Certificate” has the meaning assigned to such term in
Section 2.17(e)(ii)(B)(3). 

  
 25 

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

“Write-Down and Conversion Powers” means, (a) with respect to any EEA Resolution Authority, the write-down and
conversion powers of such EEA Resolution Authority from time to time under the Bail-In Legislation for the applicable EEA Member Country, which write-down and conversion powers are described in the EU Bail-In Legislation Schedule, and (b) with respect to the United Kingdom, any powers of the applicable Resolution Authority under the Bail-In Legislation to cancel,
reduce, modify or change the form of a liability of any UK Financial Institution or any contract or instrument under which that liability arises, to convert all or part of that liability into shares, securities or obligations of that person or any
other person, to provide that any such contract or instrument is to have effect as if a right had been exercised under it or to suspend any obligation in respect of that liability or any of the powers under that
Bail-In Legislation that are related to or ancillary to any of those powers. 
 SECTION 1.02.
Classification of Loans and Borrowings. For purposes of this Agreement, Loans may be classified and referred to by Type (e.g., a “Eurodollar Loan”). Borrowings also may be classified and referred to by Type (e.g., a
“Eurodollar Borrowing”). 
 SECTION 1.03. Terms Generally. The definitions of terms herein shall apply equally to the
singular and plural forms of the terms defined. Whenever the context may require, any pronoun shall include the corresponding masculine, feminine and neuter forms. The words “include”, “includes” and “including” shall
be deemed to be followed by the phrase “without limitation”. The word “will” shall be construed to have the same meaning and effect as the word “shall”. Unless the context requires otherwise (a) any definition of
or reference to any agreement, instrument or other document herein shall be construed as referring to such agreement, instrument or other document as from time to time amended, supplemented or otherwise modified (subject to any restrictions on such
amendments, supplements or modifications set forth herein), (b) any reference herein to any Person shall be construed to include such Person’s successors and assigns, (c) the words “herein”, “hereof” and
“hereunder”, and words of similar import, shall be construed to refer to this Agreement in its entirety and not to any particular provision hereof, (d) all references herein to Articles, Sections, Exhibits and Schedules shall be
construed to refer to Articles and Sections of, and Exhibits and Schedules to, this Agreement and (e) the words “asset” and “property” shall be construed to have the same meaning and effect and to refer to any and all
tangible and intangible assets and properties, including cash, securities, accounts and contract rights. 
 SECTION 1.04. Accounting
Terms; GAAP. Except as otherwise expressly provided herein, all terms of an accounting or financial nature shall be construed in accordance with (i) except for purposes of Section 6.07, GAAP, as in effect from time
to time; provided that, if the Borrower notifies the Administrative Agent that the Borrower requests an amendment to any provision hereof to eliminate the effect of any change occurring after the date hereof in GAAP or in the
application thereof on the operation of such provision (or if the Administrative Agent notifies the Borrower that the Required Lenders request an amendment to any provision hereof for such purpose), regardless of whether any such notice is given
before or after such change in GAAP or in the application thereof, then such provision shall be interpreted on the basis of GAAP as in effect and applied immediately before such change shall have become effective until such notice shall have been
withdrawn or such provision amended in accordance herewith; and (ii) for purposes of Section 6.07, GAAP, as in effect on June 30, 2021. 
  

  
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 SECTION 1.05. Rates. The interest rate on Eurodollar Loans and ABR Loans (when
determined by reference to clause (c) of the definition of Alternate Base Rate) may be determined by reference to LIBOR, which is derived from the London interbank offered rate. The London interbank offered rate is intended to represent the
rate at which contributing banks may obtain short-term borrowings from each other in the London interbank market. On March 5, 2021, ICE Benchmark Administration (“IBA”), the administrator of the London interbank offered rate,
and the Financial Conduct Authority (the “FCA”), the regulatory supervisor of IBA, announced in public statements (the “Announcements”) that the final publication or representativeness date for the London interbank
offered rate for Dollars for: (a) 1-week and 2-month tenor settings will be December 31, 2021 and (b) overnight,
1-month, 3-month, 6-month and 12-month tenor settings will be June 30, 2023. No
successor administrator for IBA was identified in such Announcements. As a result, it is possible that commencing immediately after such dates, the London interbank offered rate for such tenors may no longer be available or may no longer be deemed a
representative reference rate upon which to determine the interest rate on Eurodollar Loans or ABR Loans (when determined by reference to clause (c) of the definition of Alternate Base Rate). There is no assurance that the dates set forth in
the Announcements will not change or that IBA or the FCA will not take further action that could impact the availability, composition or characteristics of any London interbank offered rate. Public and private sector industry initiatives have been
and continue, as of the date hereof, to be underway to implement new or alternative reference rates to be used in place of the London interbank offered rate. In the event that the London interbank offered rate or any other then-current Benchmark is
no longer available or in certain other circumstances set forth in Section 2.14(c), such Section 2.14(c) provides a mechanism for determining an alternative rate of interest. The Administrative
Agent will notify the Borrower, pursuant to Section 2.14(c), of any change to the reference rate upon which the interest rate on Eurodollar Loans and ABR Loans (when determined by reference to clause (c) of the
definition of Alternate Base Rate) is based. However, the Administrative Agent does not warrant or accept any responsibility for, and shall not have any liability with respect to, (i) the continuation of, administration of, submission of,
calculation of or any other matter related to the London interbank offered rate or other rates in the definition of “LIBOR” or with respect to any alternative, successor or replacement rate thereto (including any then-current Benchmark or
any Benchmark Replacement), including whether the composition or characteristics of any such alternative, successor or replacement rate (including any Benchmark Replacement), as it may or may not be adjusted pursuant to
Section 2.14(c), will be similar to, or produce the same value or economic equivalence of, LIBOR or any other Benchmark, or have the same volume or liquidity as did the London interbank offered rate or any other Benchmark
prior to its discontinuance or unavailability, or (ii) the effect, implementation or composition of any Benchmark Replacement Conforming Changes. The Administrative Agent and its Affiliates or other related entities may engage in transactions
that affect the calculation of a Benchmark, any alternative, successor or replacement rate (including any Benchmark Replacement) or any relevant adjustments thereto and such transactions may be adverse to the Borrower. The Administrative Agent may
select information sources or services in its reasonable discretion to ascertain any Benchmark, any component definition thereof or rates referenced in the definition thereof, in each case pursuant to the terms of this Agreement, and shall have no
liability to the Borrower, any Lender or any other person or entity for damages of any kind, including direct or indirect, special, punitive, incidental or consequential damages, costs, losses or expenses (whether in tort, contract or otherwise and
whether at law or in equity), for any error or calculation of any such rate (or component thereof) provided by any such information source or service. 

  
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 SECTION 1.06. Divisions. For all purposes hereunder, in connection with any division
or plan of division under Delaware law (or any comparable event under a different jurisdiction’s laws): (a) if any asset, right, obligation or liability of any Person becomes the asset, right, obligation or liability of a different Person, then
it shall be deemed to have been transferred from the original Person to the subsequent Person, and (b) if any new Person comes into existence, such new Person shall be deemed to have been organized on the first date of its existence by the
holders of its Equity Interests at such time. 
 ARTICLE II 

The Credits 
 SECTION
2.01. Commitments. (a) Subject to the terms and conditions set forth herein, each Lender agrees to make Loans to the Borrower from time to time during the Availability Period in an aggregate principal amount that will not result in
(i) such Lender’s Exposure exceeding such Lender’s Commitment or (ii) the sum of the total Exposures exceeding the total Commitments. Within the foregoing limits and subject to the terms and conditions set forth herein, the
Borrower may borrow, prepay and reborrow Loans. 
 (b)    The Borrower shall have the right, without the consent of the
Lenders but with the prior approval of the Administrative Agent, not to be unreasonably withheld, to cause from time to time an increase in the total Commitments of the Lenders by adding to this Agreement one or more additional Lenders or by
allowing one or more Lenders to increase their respective Commitments; provided however (i) no Event of Default shall have occurred hereunder which is continuing, (ii) no such increase shall cause the aggregate Commitments
hereunder to exceed $1,700,000,000, and (iii) no Lender’s Commitment shall be increased without such Lender’s consent. 

(c)    Provided no Default or Event of Default has occurred and is continuing, the Borrower may, upon prior written notice
to the Administrative Agent sent not less than fifteen (15) days and not more than sixty (60) days prior to the Maturity Date, elect to have the entire principal balance of the Loans then outstanding continued as non-revolving term loans (the “Term Loans”) due and payable on the Term Loan Maturity Date; provided, the Borrower may exercise the Term-Out only once during
the term of this Agreement, such exercise shall result in the permanent termination of the Commitments, and the Borrower may repay, but not reborrow, the Term Loans. As a condition precedent to the Term-Out,
the Borrower shall deliver to the Administrative Agent a certificate of the Borrower dated the effective date of the Term-Out signed by a Financial Officer of the Borrower, certifying that: (i) the
resolutions adopted by the Borrower approving or consenting to the Term-Out are attached thereto and such resolutions are true and correct and have not been altered, amended or repealed and are in full force
and effect and (ii) before and after giving effect to the Term-Out, (A) the representations and warranties contained in Article III and the EPD Guaranty Agreement are true and correct in all
material respects on and as of the effective date of the Term-Out, except to the extent that such representations and warranties specifically refer to an earlier date, in which case they were true and correct
in all material respects as of such earlier date and (B) that no Default or Event of 

  
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Default exists, is continuing, or would result from the Term-Out. The Borrower agrees to pay to the Administrative Agent for the account of each Lender a one-time Term-Out fee equal to 1.00% of the outstanding principal of the Term Loans so continued, which shall be due and payable on the effective date of the Term-Out. The Borrower hereby agrees to pay any and all costs (if any) required pursuant to Section 2.16 incurred by any Lender in connection with the exercise of the Term-Out. 
 SECTION 2.02. Loans and Borrowings. (a) Each Loan shall be made as part of a
Borrowing consisting of Loans made by the Lenders ratably in accordance with their respective Commitments. The failure of any Lender to make any Loan required to be made by it shall not relieve any other Lender of its obligations hereunder;
provided that the Commitments of the Lenders are several and no Lender shall be responsible for any other Lender’s failure to make Loans as required. 

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

(c)    At the commencement of each Interest Period for any Eurodollar Borrowing, such Borrowing shall be in an aggregate
amount that is an integral multiple of $1,000,000 and not less than $5,000,000. At the time that each ABR Borrowing is made, such Borrowing shall be in an aggregate amount that is an integral multiple of $500,000 and not less than $1,000,000;
provided that an ABR Borrowing may be in an aggregate amount that is equal to the entire unused balance of the total Commitments. Borrowings of more than one Type may be outstanding at the same time; provided that there
shall not at any time be more than a total of twelve Eurodollar Borrowings outstanding. 
 (d)    Notwithstanding any
other provision of this Agreement, the Borrower shall not be entitled to request, or to elect to convert or continue, any Borrowing if the Interest Period requested with respect thereto would end after the Maturity Date. 

SECTION 2.03. Requests for Borrowings.    To request a Borrowing, the Borrower shall notify the Administrative
Agent of such request by telephone (a) in the case of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before the date of the proposed Borrowing (or, upon implementation of a Benchmark Replacement
in accordance with Section 2.14, by the Reference Time with respect thereto) or (b) in the case of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of the proposed Borrowing. Each such
telephonic Borrowing Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Borrowing Request signed by the Borrower. Each such telephonic and written Borrowing Request
shall specify the following information in compliance with Section 2.02: 

(i)    the aggregate amount of the requested Borrowing; 

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

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

(v)    the location and number of the Borrower’s account to which funds are to be disbursed, which
shall comply with the requirements of Section 2.07. 
 If no election as to the Type of Borrowing is specified, then the requested
Borrowing shall be an ABR Borrowing. If no Interest Period is specified with respect to any requested Eurodollar Borrowing, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration. Promptly following
receipt of a Borrowing Request in accordance with this Section, the Administrative Agent shall advise each Lender of the details thereof and of the amount of such Lender’s Loan to be made as part of the requested Borrowing. 

SECTION 2.04. Reserved. 

SECTION 2.05. Reserved. 

SECTION 2.06. Reserved. 

SECTION 2.07. Funding of Borrowings. (a) Each Lender shall make each Loan to be made by it hereunder on the proposed date thereof
by wire transfer of immediately available funds by 1:00 p.m., New York City time, to the account of the Administrative Agent most recently designated by it for such purpose by notice to the Lenders. The Administrative Agent will make such Loans
available to the Borrower by promptly crediting the amounts so received, in like funds, to an account designated by the Borrower in the applicable Borrowing Request. 

(b)    Unless the Administrative Agent shall have received notice from a Lender prior to the proposed date, or with
respect to an ABR Loan, prior to 12:30 p.m., New York City time on the date, of any Borrowing that such Lender will not make available to the Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may assume that
such Lender has made such share available on such date in accordance with paragraph (a) of this Section and may, in reliance upon such assumption, make available to the Borrower a corresponding amount. In such event, if a Lender has not in fact
made its share of the applicable Borrowing available to the Administrative Agent, then the applicable Lender and the Borrower severally agree to pay to the Administrative Agent forthwith on demand such corresponding amount with interest thereon, for
each day from and including the date such amount is made available to the Borrower to but excluding the date of payment to the Administrative Agent, at (i) in the case of such Lender, the greater of the Federal Funds Effective Rate and a rate
determined by the Administrative Agent in accordance with banking industry rules on interbank compensation or (ii) in the case of the Borrower, the interest rate applicable to such Borrowing. If such Lender pays such amount to the
Administrative Agent, then such amount shall constitute such Lender’s Loan included in such Borrowing. 

  
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 SECTION 2.08. Interest Elections. (a) Each Borrowing initially shall be of the
Type specified in the applicable Borrowing Request and, in the case of a Eurodollar Borrowing, shall have an initial Interest Period as specified in such Borrowing Request. Thereafter, the Borrower may elect to convert such Borrowing to a different
Type or to continue such Borrowing and, in the case of a Eurodollar Borrowing, may elect Interest Periods therefor, all as provided in this Section. The Borrower may elect different options with respect to different portions of the affected
Borrowing, in which case each such portion shall be allocated ratably among the Lenders holding the Loans comprising such Borrowing, and the Loans comprising each such portion shall be considered a separate Borrowing. 

(b)    To make an election pursuant to this Section, the Borrower shall notify the Administrative Agent of such election
by telephone by the time that a Borrowing Request would be required under Section 2.03 if the Borrower were requesting a Borrowing of the Type resulting from such election to be made on the effective date of such election.
Each such telephonic Interest Election Request shall be irrevocable and shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written Interest Election Request signed by the Borrower. 

(c)    Each telephonic and written Interest Election Request shall specify the following information in compliance with
Section 2.02: 
 (i)    the Borrowing to which such Interest Election Request
applies and, if different options are being elected with respect to different portions thereof, the portions thereof to be allocated to each resulting Borrowing (in which case the information to be specified pursuant to clauses (iii) and
(iv) below shall be specified for each resulting Borrowing); 
 (ii)    the effective date of the
election made pursuant to such Interest Election Request, which shall be a Business Day; 

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

(iv)    if the resulting Borrowing is a Eurodollar Borrowing, the Interest Period to be applicable thereto
after giving effect to such election, which shall be a period contemplated by the definition of the term “Interest Period”. 
 If any such
Interest Election Request requests a Eurodollar Borrowing but does not specify an Interest Period, then the Borrower shall be deemed to have selected an Interest Period of one month’s duration, in the case of a Eurodollar Borrowing. 

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

  
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 SECTION 2.09. Termination and Reduction of Commitments. (a) Unless previously
terminated, the Commitments shall terminate on the earlier of (i) the Maturity Date and (ii) the date the Loans are converted to Term Loans pursuant to Section 2.01(c). 

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

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

SECTION 2.10. Repayment of Loans; Evidence of Debt. (a) The Borrower hereby unconditionally promises to pay to
the Administrative Agent for the account of each Lender the then unpaid principal amount of each Loan on the Maturity Date or, if the Loans have been converted to Term Loans pursuant to Section 2.01(c), each Term Loan on
the Term Loan Maturity Date. 
 (b)    Each Lender shall maintain in accordance with its usual practice an account or
accounts evidencing the indebtedness of the Borrower to such Lender resulting from each Loan made by such Lender, including the amounts of principal and interest payable and paid to such Lender from time to time hereunder. 

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

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

  
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 (e)    Any Lender may request that Loans made by it be evidenced by a
promissory note. In such event, the Borrower shall prepare, execute and deliver to such Lender a promissory note payable to such Lender (or, if requested by such Lender, to such Lender and its registered assigns) and substantially in the form of
(i) with respect to Loans, in the form of note attached hereto as Exhibit F. Thereafter, the Loans evidenced by such promissory note and interest thereon shall at all times (including after assignment pursuant to
Section 9.04) be represented by one or more promissory notes in such form payable to the payee named therein (or, if such promissory note is a registered note, to such payee and its registered assigns). 

SECTION 2.11. Prepayment of Loans. (a) The Borrower shall have the right at any time and from time to time to prepay any Borrowing
in whole or in part, subject to prior notice in accordance with paragraph (b) of this Section. 
 (b)    The
Borrower shall notify the Administrative Agent by telephone (confirmed by telecopy) of any prepayment hereunder (i) in the case of prepayment of a Eurodollar Borrowing, not later than 11:00 a.m., New York City time, three Business Days before
the date of prepayment, or (ii) in the case of prepayment of an ABR Borrowing, not later than 11:00 a.m., New York City time, on the date of prepayment. Each such notice shall be irrevocable and shall specify the prepayment date and the
principal amount of each Borrowing or portion thereof to be prepaid; provided that, if a notice of prepayment is given in connection with a conditional notice of termination of the Commitments as contemplated by
Section 2.09, then such notice of prepayment may be revoked if such notice of termination is revoked in accordance with Section 2.09. Promptly following receipt of any such notice relating to a
Borrowing, the Administrative Agent shall advise the Lenders of the contents thereof. Each partial prepayment of any Borrowing shall be in an amount that is an integral multiple of $1,000,000 and not less than $1,000,000 in the case of an ABR
Borrowing, or $3,000,000 in the case of a Eurodollar Borrowing. Each prepayment of a Borrowing shall be applied ratably to the Loans included in the prepaid Borrowing. Prepayments shall be accompanied by accrued interest to the extent required by
Section 2.13 and any breakfunding payments due under Section 2.16. 
 SECTION 2.12.
Fees. (a) The Borrower agrees to pay to the Administrative Agent for the account of each Lender a facility fee, which shall accrue at the Applicable Rate on the daily amount of the Commitment of such Lender (whether used or unused)
during the period from and including the Effective Date to but excluding the date on which such Commitment terminates; provided that, (i) if such Lender continues to have any Exposure after its Commitment terminates, then such
facility fee shall continue to accrue on the daily amount of such Lender’s Exposure from and including the date on which its Commitment terminates to but excluding the date on which such Lender ceases to have any Exposure, and (ii) if such
Commitment termination is pursuant to the conversion of such Lender’s Loans to Term Loans pursuant to Section 2.01(c), such facility fee shall thereafter accrue on the daily outstanding principal amount of such
Lender’s Term Loan from and including the date on which such conversion occurs to but excluding the date on which such Term Loan is paid in full. Accrued facility fees shall be payable in arrears on the last day of March, June, September and
December of each year, on the date on which the Commitments terminate and, if applicable, on the Term Loan Maturity Date, commencing on the first such date to occur after the date hereof; provided that any facility fees accruing after
the date on which the Commitments terminate (other than pursuant to the conversion of the Loans to Term Loans pursuant to Section 2.01(c)) shall be payable on demand. All facility fees shall be computed on the basis of a
year of 360 days and shall be payable for the actual number of days elapsed (including the first day but excluding the last day). 

  
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 (b)    Reserved. 

(c)    The Borrower agrees to pay to the Administrative Agent, for its own account, fees payable in the amounts and at the
times separately agreed upon between the Borrower and the Administrative Agent. 
 (d)    All fees payable hereunder
shall be paid on the dates due, in immediately available funds, to the Administrative Agent for distribution, in the case of facility fees and participation fees, to the Lenders. Fees paid shall not be refundable under any circumstances. 

(e)    Anything herein to the contrary notwithstanding, during such period as a Lender is a Defaulting Lender, such
Defaulting Lender will not be entitled to any facility fees accruing during such period pursuant to Section 2.12(a) with respect to any unfunded portion of such Lender’s Commitment (without prejudice to the rights of
the Non-Defaulting Lenders in respect of any fees due such Non-Defaulting Lenders under such Section 2.12(a)). 

SECTION 2.13. Interest. 

(a)    The Loans comprising each ABR Borrowing shall bear interest on each day at the Alternate Base Rate for such day
plus an amount equal to the “ABR Spread” set forth in the pricing grid set forth in the defined term “Applicable Rate” that would be applicable to ABR Loans on such day. 

(b)    The Loans comprising each Eurodollar Borrowing shall bear interest at LIBOR for the Interest Period in effect for
such Borrowing plus the Applicable Rate. 
 (c)    Notwithstanding the foregoing, if any principal of or interest on any
Loan or any fee or other amount payable by the Borrower hereunder is not paid when due, whether at stated maturity, upon acceleration or otherwise, such overdue amount shall bear interest, after as well as before judgment, at a rate per annum equal
to (i) in the case of overdue principal of any Loan, 2% plus the rate otherwise applicable to such Loan as provided in the preceding paragraphs of this Section or (ii) in the case of any other amount, 2% plus the rate applicable to ABR
Loans as provided in paragraph (a) of this Section. 
 (d)    Accrued interest on each Loan shall be payable in
arrears on each Interest Payment Date for such Loan and upon termination of the Commitments, and, in the case of Term Loans, on the Term Loan Maturity Date; provided that (i) interest accrued pursuant to paragraph (c) of this
Section shall be payable on demand, (ii) in the event of any repayment or prepayment of any Loan (other than a prepayment of an ABR Loan prior to the end of the Availability Period), accrued interest on the principal amount repaid or prepaid
shall be payable on the date of such repayment or prepayment and (iii) in the event of any conversion of any Eurodollar Loan prior to the end of the current Interest Period therefor, accrued interest on such Loan shall be payable on the
effective date of such conversion. 

  
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 (e)    All interest determined by reference to LIBOR or clauses
(b) or (c) of the definition of “Alternate Base Rate” shall be computed on the basis of a year of 360 days, and all other interest shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case
shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate or LIBOR shall be determined by the Administrative Agent, and such determination shall be conclusive
absent manifest error. 
 (f)    The Borrower shall pay to each Lender, so long as such Lender shall be required under
regulations of the Board to maintain reserves with respect to liabilities or assets consisting of or including Eurocurrency Liabilities, additional interest on the unpaid principal amount of each Borrowing of such Lender during such periods as such
Borrowing is a Eurodollar Borrowing, from the date of such Borrowing until such principal amount is paid in full, at an interest rate per annum equal at all times to the remainder obtained by subtracting (i) LIBOR for the Interest Period in
effect for such Eurodollar Borrowing from (ii) the rate obtained by dividing such LIBOR by a percentage equal to 100% minus the Eurodollar Rate Reserve Percentage of such Lender for such Interest Period. Such additional interest shall be
determined by such Lender. The Borrower shall from time to time, within 15 days after demand (which demand shall be accompanied by a certificate comporting with the requirements set forth in Section 2.15(d)) by such Lender
(with a copy of such demand and certificate to the Administrative Agent) pay to the Lender giving such notice such additional interest; provided, however, that the Borrower shall not be required to pay to such Lender any portion of
such additional interest that accrued more than 90 days prior to any such demand, unless such additional interest was not determinable on the date that is 90 days prior to such demand. 

SECTION 2.14. Alternate Rate of Interest. Subject to clause (c) below, if prior to the commencement of any Interest Period for a
Eurodollar Borrowing: 
 (a)    the Administrative Agent determines (which determination shall be
conclusive absent manifest error) that adequate and reasonable means do not exist for ascertaining LIBOR, as applicable, for such Interest Period; or 

(b)    the Administrative Agent is advised by the Required Lenders that LIBOR for such Interest Period will
not adequately and fairly reflect the cost to such Lenders of making or maintaining their Loans included in such Borrowing for such Interest Period; 
 then
the Administrative Agent shall give notice thereof to the Borrower and the Lenders by telecopy as promptly as practicable thereafter and, until the Administrative Agent notifies the Borrower and the Lenders that the circumstances giving rise to such
notice no longer exist, (i) any Interest Election Request that requests the conversion of any Borrowing to, or continuation of any Borrowing as, a Eurodollar Borrowing shall be ineffective, and (ii) if any Borrowing Request requests a
Eurodollar Borrowing, such Borrowing shall be made as an ABR Borrowing; provided that if the circumstances giving rise to such notice affect only one Type of Borrowings, then the other Type of Borrowings shall be permitted. 

  
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 (c)    Benchmark Replacement Setting. 

(i)    Benchmark Replacement. Notwithstanding anything to the contrary herein or in any other loan
document, if a Benchmark Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date have occurred prior to the Reference Time in respect of any setting of the
then-current Benchmark, then (x) if a Benchmark Replacement is determined in accordance with clause (a)(1) of the definition of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such
Benchmark for all purposes hereunder in respect of such Benchmark setting and subsequent Benchmark settings without any amendment to, or further action or consent of any other party to, this Agreement and (y) if a Benchmark Replacement is
determined in accordance with clause (a)(2) of the definition of “Benchmark Replacement” for such Benchmark Replacement Date, such Benchmark Replacement will replace such Benchmark for all purposes hereunder in respect of any
Benchmark setting at or after 5:00 p.m. (New York City time) on the fifth (5th) Business Day after the date notice of such Benchmark Replacement is provided to the Lenders without any amendment
to, or further action or consent of any other party to, this Agreement so long as the Administrative Agent has not received, by such time, written notice of objection to such Benchmark Replacement from the Required Lenders. 

(ii)    Benchmark Replacement Conforming Changes. In connection with the implementation of a
Benchmark Replacement, the Administrative Agent will have the right to make (in consultation with the Borrower) Benchmark Replacement Conforming Changes from time to time and, notwithstanding anything to the contrary herein or in any other loan
document, any amendments implementing such Benchmark Replacement Conforming Changes will become effective without any further action or consent of any other party to this Agreement. 

(iii)    Notices; Standards for Decisions and Determinations. The Administrative Agent will promptly
notify the Borrower and the Lenders of (A) any occurrence of a Benchmark Transition Event or an Early Opt-in Election, as applicable, and its related Benchmark Replacement Date, (B) the
implementation of any Benchmark Replacement, (C) the effectiveness of any Benchmark Replacement Conforming Changes, (D) the removal or reinstatement of any tenor of a Benchmark pursuant to Section 2.14(c)(iv)
below and (E) the commencement or conclusion of any Benchmark Unavailability Period. Any determination, decision or election that may be made by the Administrative Agent or, if applicable, any Lender (or group of Lenders) pursuant to this
Section 2.14(c), including any determination with respect to a tenor, rate or adjustment or of the occurrence or non-occurrence of an event, circumstance or date and any decision to
take or refrain from taking any action or any selection, will be conclusive and binding absent manifest error and may be made in its or their reasonable discretion and without consent from any other party to this Agreement, except, in each case, as
expressly required pursuant to this Section 2.14(c). 

(iv)    Unavailability of Tenor of Benchmark. Notwithstanding anything to the contrary herein, at
any time (including in connection with the implementation of a Benchmark Replacement), (A) if the then-current Benchmark is a term rate (including Term SOFR or USD LIBOR) and either (1) any tenor for such Benchmark is not displayed on a screen
or other information service that publishes such rate from time to time as selected by the Administrative Agent in its reasonable discretion or (2) the regulatory supervisor for the administrator of such Benchmark has provided a public
statement or publication of information announcing that any tenor for such Benchmark is or will be no longer representative, then the Administrative Agent may modify the 

  
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definition of “Interest Period” for any Benchmark settings at or after such time to remove such unavailable or non-representative tenor and
(B) if a tenor that was removed pursuant to clause (A) above either (1) is subsequently displayed on a screen or information service for a Benchmark (including a Benchmark Replacement) or (2) is not, or is no longer, subject to
an announcement that it is or will no longer be representative for a Benchmark (including a Benchmark Replacement), then the Administrative Agent may (and, upon request of the Borrower and as soon as commercially reasonable, shall) modify the
definition of “Interest Period” for all Benchmark settings at or after such time to reinstate such previously removed tenor. 

(v)    Benchmark Unavailability Period. Upon the Borrower’s receipt of notice of the
commencement of a Benchmark Unavailability Period, the Borrower may revoke any request for a borrowing of, conversion to or continuation of Eurodollar Loans to be made, converted or continued during any Benchmark Unavailability Period and, failing
that, the Borrower will be deemed to have converted any such request into a request for a borrowing of or conversion to ABR Loans. During any Benchmark Unavailability Period or at any time that a tenor for the then-current Benchmark is not an
Available Tenor, the component of the Alternate Base Rate based upon the then-current Benchmark or such tenor for such Benchmark, as applicable, will not be used in any determination of the Alternate Base Rate. 

(vi)    London Interbank Offered Rate Benchmark Transition Event. On March 5, 2021, the IBA,
the administrator of the London interbank offered rate, and the FCA, the regulatory supervisor of the IBA, made the Announcements that the final publication or representativeness date for Dollars for (I)
1-week and 2-month London interbank offered rate tenor settings will be December 31, 2021 and (II) overnight, 1-month, 3-month, 6-month and 12-month London interbank offered rate tenor settings will be June 30, 2023. No successor administrator for
the IBA was identified in such Announcements. The parties hereto agree and acknowledge that the Announcements resulted in the occurrence of a Benchmark Transition Event with respect to the London interbank offered rate pursuant to the terms of this
Agreement and that any obligation of the Administrative Agent to notify any parties of such Benchmark Transition Event pursuant to clause (iii) of this Section 2.14(c) shall be deemed satisfied. 

SECTION 2.15. Illegality; Increased Costs. (a) If any Change in Law shall make it unlawful or impossible for any Lender to make,
maintain or fund its Eurodollar Loans, such Lender shall so notify the Administrative Agent. Upon receipt of such notice, the Administrative Agent shall immediately give notice thereof to the other Lenders and to the Borrower, whereupon until such
Lender notifies the Borrower and the Administrative Agent that the circumstances giving rise to such suspension no longer exist, the obligation of such Lender to make Eurodollar Loans shall be suspended. If such Lender shall determine that it may
not lawfully continue to maintain and fund any of its outstanding Eurodollar Loans to maturity and shall so specify in such notice, the Borrower shall immediately prepay (which prepayment shall not be subject to
Section 2.11) in full the then outstanding principal amount of such Eurodollar Loans, together with the accrued interest thereon. 

(b)    If any Change in Law shall: 

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

(ii)    impose on any Lender or the London interbank market any other condition affecting this Agreement or
Eurodollar Loans made by such Lender; 
 and the result of any of the foregoing shall be to increase the cost to such Lender of making or maintaining any
Eurodollar Loan (or of maintaining its obligation to make any such Loan) or to reduce the amount of any sum received or receivable by such Lender hereunder (whether of principal, interest or otherwise), then the Borrower will pay to such Lender such
additional amount or amounts as will compensate such Lender for such additional costs incurred or reduction suffered. 

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

(d)    A certificate of a Lender setting forth, in reasonable detail showing the computation thereof, the amount or
amounts necessary to compensate such Lender or its holding company, as the case may be, as specified in paragraphs (a), (b) or (c) of this Section shall be delivered to the Borrower and shall be conclusive absent manifest error. Such
certificate shall further certify that such Lender is making similar demands of its other similarly situated borrowers. The Borrower shall pay such Lender the amount shown as due on any such certificate within 10 days after receipt thereof, if
such certificate complies herewith. 
 (e)    Failure or delay on the part of any Lender to demand compensation pursuant
to this Section shall not constitute a waiver of such Lender’s right to demand such compensation; provided that the Borrower shall not be required to compensate a Lender pursuant to this Section for any increased costs or
reductions incurred more than 90 days prior to the date that such Lender notifies the Borrower of the Change in Law giving rise to such increased costs or reductions and of such Lender’s intention to claim compensation therefor; provided
further that, if the Change in Law giving rise to such increased costs or reductions is retroactive, then the 90-day period referred to above shall be extended to include the period of retroactive
effect thereof (to the extent that such period of retroactive effect is not already included in such 90-day period). 

SECTION 2.16. Break Funding Payments. In the event of (a) the payment of any principal of any Eurodollar Loan other than on the
last day of an Interest Period applicable thereto (including as a result of an Event of Default), (b) the conversion of any Eurodollar Loan other than on the last day of the Interest Period applicable thereto, (c) the failure to borrow,
convert, continue or prepay any Loan on the date specified in any notice delivered pursuant hereto (regardless of whether such notice may be revoked under Section 2.11(b) and is revoked in accordance therewith), or
(d) the assignment of any Eurodollar Loan other than on the last day 

  
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of the Interest Period applicable thereto as a result of a request by the Borrower pursuant to Section 2.19, then, in any such event, the Borrower shall compensate each
Lender for the loss, cost and expense (excluding loss of anticipated profits) attributable to such event. A certificate of any Lender setting forth, in reasonable detail showing the computation thereof, any amount or amounts that such Lender is
entitled to receive pursuant to this Section shall be delivered to the Borrower and shall be conclusive absent manifest error. The Borrower shall pay such Lender the amount shown as due on any such certificate within 10 days after receipt thereof,
if such certificate complies herewith. 
 SECTION 2.17. Taxes. (a) Any and all payments by or on account of any obligation
of the Borrower hereunder shall be made free and clear of and without deduction for any Indemnified Taxes or Other Taxes; provided that if the Borrower shall be required to deduct any Indemnified Taxes or Other Taxes from such
payments, then (i) the sum payable shall be increased as necessary so that after making all required deductions (including deductions applicable to additional sums payable under this Section) the Administrative Agent or any Lender (as the case
may be) receives an amount equal to the sum it would have received had no such deductions been made, (ii) the Borrower shall make such deductions and (iii) the Borrower shall pay the full amount deducted to the relevant Governmental
Authority in accordance with applicable law. 
 (b)    In addition, without duplication of any obligation in
Section 2.17(a) or (c), the Borrower shall pay any Other Taxes to the relevant Governmental Authority in accordance with applicable law. 

(c)    Without duplication of any other obligation in this Section 2.17, the Borrower shall
indemnify the Administrative Agent and each Lender, within 10 days after written demand therefor, for the full amount of any Indemnified Taxes or Other Taxes paid by the Administrative Agent or such Lender, as the case may be, on or with respect to
any payment by or on account of any obligation of the Borrower hereunder (including Indemnified Taxes or Other Taxes imposed or asserted on or attributable to amounts payable under this Section) and any penalties, interest and reasonable expenses
arising therefrom or with respect thereto, whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or asserted by the relevant Governmental Authority; provided that the Borrower shall not be required to
indemnify or reimburse the Administrative Agent or a Lender pursuant to this Section for any Indemnified Taxes or Other Taxes imposed or asserted more than 90 days prior to the date that the Administrative Agent or such Lender notifies the Borrower
of the Indemnified Taxes or Other Taxes imposed or asserted and of the Administrative Agent’s or such Lender’s intention to claim compensation therefor; provided further that, if the Indemnified Taxes or Other Taxes imposed
or asserted giving rise to such claims are retroactive, then the 90-day period referred to above shall be extended to include the period of retroactive effect thereof (to the extent that such period of
retroactive effect is not already included in such 90-day period). A certificate setting forth, in reasonable detail showing the computation thereof, the amount of such payment or liability delivered to the
Borrower by a Lender, or by the Administrative Agent on its own behalf or on behalf of a Lender, shall be conclusive absent manifest error. 

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

  
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 (e)    Status of Lenders. 

(i)    Any Lender that is entitled to an exemption from or reduction of withholding tax with respect to
payments made under any loan document shall deliver to the Borrower and the Administrative Agent, at the time or times reasonably requested by the Borrower or the Administrative Agent, such properly completed and executed documentation reasonably
requested by the Borrower or the Administrative Agent as will permit such payments to be made without withholding or at a reduced rate of withholding. In addition, any Lender, if reasonably requested by the Borrower or the Administrative Agent,
shall deliver such other documentation prescribed by any law, rule or regulation or in the interpretation or application thereof by any Governmental Authority or reasonably requested by the Borrower or the Administrative Agent as will enable the
Borrower or the Administrative Agent to determine whether or not such Lender is subject to backup withholding or information reporting requirements. Notwithstanding anything to the contrary in the preceding two sentences, the completion, execution
and submission of such documentation (other than such documentation set forth in Section 2.17(f)(ii)(A) and (B) and Section 2.17(f) below) shall not be required if in the Lender’s
reasonable judgment such completion, execution or submission would subject such Lender to any material unreimbursed cost or expense or would materially prejudice the legal or commercial position of such Lender. 

(ii)    Without limiting the generality of the foregoing, in the event that the Borrower is a “United
States person” as defined in section 7701(a)(30) of the Code, 
 (A)    any Lender that is a
“United States person” as defined in section 7701(a)(30) of the Code shall deliver to the Borrower and the Administrative Agent on or prior to the date on which such Lender becomes a Lender under this Agreement (and from time to time
thereafter upon the reasonable request of the Borrower or the Administrative Agent), executed copies of IRS Form W-9 certifying that such Lender is exempt from United States federal backup withholding tax;

 (B)    any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the
Borrower and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable
request of the Borrower or the Administrative Agent), whichever of the following is applicable: 

(1)    with respect to payments of interest under any loan document, executed copies of IRS Form W-8BEN-E or IRS Form W-8BEN, as applicable, establishing an exemption from, or reduction of, United States federal withholding Tax
pursuant to the “interest” article of an income tax treaty to which the United States is a party, and with respect to any other applicable payments under any loan document, IRS Form W-8BEN-E or IRS Form W-8BEN, as applicable, establishing an exemption from, or reduction of, United States federal withholding tax pursuant to the “business
profits” or “other income” article of such tax treaty; 

  
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 (2)    executed copies of IRS Form W-8ECI; 
 (3)    a certificate substantially in the form of
Exhibit G-1 to the effect that such Foreign Lender is not a “bank” within the meaning of section 881(c)(3)(A) of the Code, a “10 percent shareholder” of the Borrower within the
meaning of section 881(c)(3)(B) of the Code, or a “controlled foreign corporation” described in section 881(c)(3)(C) of the Code (a “U.S. Tax Compliance Certificate”), and executed copies of IRS Form W-8BEN-E or IRS Form W-8BEN, as applicable; or 

(4)    executed copies of IRS Form W-8IMY, accompanied by IRS Form
W-8ECI, IRS Form W-8BEN-E, IRS Form W-8BEN, a U.S. Tax Compliance Certificate
substantially in the form of Exhibit G-2 or Exhibit G-3, IRS Form W-9, and/or other certification documents from
each beneficial owner, as applicable; provided that if the Foreign Lender is a partnership and one or more direct or indirect partners of such Foreign Lender are claiming the portfolio interest exemption, such Foreign Lender may provide a
U.S. Tax Compliance Certificate substantially in the form of Exhibit G-4 on behalf of each such direct and indirect partner; and 

(iii)    any Foreign Lender shall, to the extent it is legally entitled to do so, deliver to the Borrower
and the Administrative Agent (in such number of copies as shall be requested by the recipient) on or prior to the date on which such Foreign Lender becomes a Lender under this Agreement (and from time to time thereafter upon the reasonable request
of the Borrower or the Administrative Agent), executed copies of any other form prescribed by any law, rule or regulation or in the interpretation or application thereof by any Governmental Authority as a basis for claiming exemption from or a
reduction in United States federal withholding tax, duly completed, together with such supplementary documentation as may be prescribed thereby to permit the Borrower or the Administrative Agent to determine the withholding or deduction required to
be made. 
 Each Lender agrees that if any form or certification it previously delivered under this Section 2.17
expires or becomes obsolete or inaccurate in any respect, it shall update such form or certification or promptly notify the Borrower and the Administrative Agent in writing of its legal inability to do so. 

(f)    FATCA. If a payment made to a Lender under any loan document would be subject to United States federal
withholding tax imposed by FATCA if such Lender fails to comply with the applicable reporting requirements of FATCA (including those contained in section 1471(b) or 1472(b) of the Code, as applicable), such Lender shall deliver to the Borrower and
the Administrative Agent, at the time or times prescribed by law and at such time or times reasonably requested by the Borrower or the Administrative Agent, such documentation prescribed by any law, rule or regulation or in the interpretation or
application thereof by any Governmental Authority (including as prescribed by section 1471(b)(3)(C)(i) of the Code) and such additional documentation reasonably requested by the Borrower or the Administrative Agent as may be necessary for the
Borrower or the Administrative Agent to comply with its obligations under FATCA, to determine that such Lender has complied with such Lender’s obligations under FATCA or to determine the amount to deduct and withhold from such payment. Solely
for purposes of this Section 2.17(f), “FATCA” shall include any amendments made to FATCA after the date of this Agreement. 

  
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 (g)    Treatment of Certain Refunds. If the Administrative Agent
or a Lender determines, in its sole discretion exercised in good faith, that it has received a refund of any Indemnified Taxes or Other Taxes as to which it has been indemnified by the Borrower or with respect to which the Borrower has paid
additional amounts pursuant to this Section 2.17, it shall pay to the Borrower an amount equal to such refund (but only to the extent of indemnity payments made, or additional amounts paid, by the Borrower under this
Section 2.17 with respect to the Indemnified Taxes or Other Taxes giving rise to such refund), net of all out-of-pocket expenses of the
Administrative Agent or such Lender, as the case may be, and without interest (other than any interest paid by the relevant Governmental Authority with respect to such refund); provided, that the Borrower, upon the request of the
Administrative Agent or such Lender, agrees to repay the amount paid over to the Borrower (plus any penalties, interest or other charges imposed by the relevant Governmental Authority) to the Administrative Agent or such Lender in the event the
Administrative Agent or such Lender is required to repay such refund to such Governmental Authority. Notwithstanding anything to the contrary in this paragraph (g), in no event will the indemnified party be required to pay any amount to an
indemnifying party pursuant to this paragraph (g) the payment of which would place the indemnified party in a less favorable net after-Tax position than the indemnified party would have been in if the Tax
subject to indemnification and giving rise to such refund had not been deducted, withheld or otherwise imposed and the indemnification payments or additional amounts with respect to such Tax had never been paid. This
Section 2.17 shall not be construed to require the Administrative Agent or any Lender to make available its tax returns (or any other information relating to its taxes that it deems confidential) to the Borrower or any
other Person. 
 (h)    Except for a request by the Borrower under Section 2.19(b), no Foreign
Lender shall be entitled to the benefits of Sections 2.17(a) or 2.17(c) if withholding tax is imposed on amounts payable to such Foreign Lender at the time such Foreign Lender becomes a party to this Agreement or
designates a new lending office. 
 SECTION 2.18. Payments Generally; Pro Rata Treatment; Sharing of
Set-offs. (a) The Borrower shall make each payment required to be made by it hereunder (whether of principal, interest or fees, or of amounts payable under Section 2.15,
2.16 or 2.17, or otherwise) prior to 1:00 p.m., New York City time, on the date when due, in immediately available funds, without set-off or counterclaim. Any amounts received after such time on
any date may, in the discretion of the Administrative Agent, be deemed to have been received on the next succeeding Business Day for purposes of calculating interest thereon. All such payments shall be made to the Administrative Agent at its offices
in New York, New York at such payment account as designated by Administrative Agent, except that payments pursuant to Sections 2.15, 2.16, 2.17 and 9.03 shall be made directly to the Persons entitled thereto;
provided, if any Lender shall become a Defaulting Lender, from and after the date upon which such Lender shall have become a Defaulting Lender, any payment made on account of principal of or interest on the Loans shall be applied as set forth
in Section 2.21(a)(ii), provided, further, that the application of such payments in accordance herewith shall not constitute an Event of Default or a Default, and no payment of principal of or interest on the
Loans of such Defaulting Lender shall be considered to be overdue, if, had such payments been applied without regard hereto, no such Event of Default or Default would have occurred and no such payment of principal of or interest on the Loans of such
Defaulting Lender would have been overdue. The Administrative Agent shall distribute any such payments received by it for the account of any other Person to the appropriate recipient promptly following receipt thereof. If any payment hereunder shall
be due on a day that is not a Business Day, the date for payment shall be extended to the next succeeding Business Day, and, in the case of any payment accruing interest, interest thereon shall be payable for the period of such extension. All
payments hereunder shall be made in Dollars. 

  
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 (b)    If at any time insufficient funds are received by and available
to the Administrative Agent to pay fully all amounts of principal, interest and fees then due hereunder, such funds shall be applied (i) first, towards payment of interest and fees then due hereunder, ratably among the parties entitled thereto
in accordance with the amounts of interest and fees then due to such parties, and (ii) second, towards payment of principal then due hereunder, ratably among the parties entitled thereto in accordance with the amounts of principal then due to
such parties. 
 (c)    If any Lender shall, by exercising any right of set-off
or counterclaim or otherwise, obtain payment in respect of any principal of or interest on any of its Loans resulting in such Lender receiving payment of a greater proportion of the aggregate amount of its Loans and accrued interest thereon than the
proportion received by any other Lender, then the Lender receiving such greater proportion shall purchase (for cash at face value) participations in the Loans of other Lenders to the extent necessary so that the benefit of all such payments shall be
shared by the Lenders ratably in accordance with the aggregate amount of principal of and accrued interest on their respective Loans; provided that (i) if any such participations are purchased and all or any portion of the payment
giving rise thereto is recovered, such participations shall be rescinded and the purchase price restored to the extent of such recovery, without interest, and (ii) the provisions of this paragraph shall not be construed to apply to any payment
made by the Borrower pursuant to and in accordance with the express terms of this Agreement or any payment obtained by a Lender as consideration for the assignment of or sale of a participation in any of its Loans to any assignee or participant,
other than to the Borrower or any Subsidiary or Affiliate thereof (as to which the provisions of this paragraph shall apply). The Borrower consents to the foregoing and agrees, to the extent it may effectively do so under applicable law, that any
Lender acquiring a participation pursuant to the foregoing arrangements may exercise against the Borrower rights of set-off and counterclaim with respect to such participation as fully as if such Lender were a
direct creditor of the Borrower in the amount of such participation. 
 (d)    Unless the Administrative Agent shall
have received notice from the Borrower prior to the date on which any payment is due to the Administrative Agent for the account of the Lenders hereunder that the Borrower will not make such payment, the Administrative Agent may assume that the
Borrower has made such payment on such date in accordance herewith and may, in reliance upon such assumption, distribute to the Lenders the amount due. In such event, if the Borrower has not in fact made such payment, then each of the Lenders
severally agrees to repay to the Administrative Agent forthwith on demand the amount so distributed to such Lender with interest thereon, for each day from and including the date such amount is distributed to it to but excluding the date of payment
to the Administrative Agent, at the greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation. 

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

  
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 SECTION 2.19. Mitigation Obligations; Replacement of Lenders. (a) If any Lender
requests compensation under Section 2.15 or Section 2.13(f), or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any
Lender pursuant to Section 2.17, then such Lender shall use reasonable efforts to designate a different lending office for funding or booking its Loans hereunder or to assign its rights and obligations hereunder to another
of its offices, branches or affiliates, if, in the judgment of such Lender, such designation or assignment (i) would eliminate or reduce amounts payable pursuant to Section 2.13(f), 2.15 or 2.17, as the
case may be, in the future and (ii) would not subject such Lender to any unreimbursed cost or expense and would not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all reasonable costs and expenses incurred by any
Lender in connection with any such designation or assignment. Subject to the foregoing, Lenders agree to use reasonable efforts to select lending offices which will minimize taxes and other costs and expenses for the Borrower. 

(b)    If any Lender requests compensation under Section 2.13(f) or
Section 2.15, or if the Borrower is required to pay any additional amount to any Lender or any Governmental Authority for the account of any Lender pursuant to Section 2.17, or if any Lender is a
Defaulting Lender, then the Borrower may, at its sole expense and effort, upon notice to such Lender and the Administrative Agent, require such Lender to assign and delegate, without recourse (in accordance with and subject to the restrictions
contained in Section 9.04), all its interests, rights and obligations under this Agreement to an assignee that shall assume such obligations at par (which assignee may be another Lender, if a Lender accepts such
assignment); provided that (i) the Borrower shall have received the prior written consent of the Administrative Agent, which consent shall not unreasonably be withheld, (ii) such Lender shall have received payment of an
amount equal to the outstanding principal of its Loans, accrued interest thereon, accrued fees and all other amounts payable to it hereunder, from the assignee (to the extent of such outstanding principal and accrued interest and fees) or the
Borrower (in the case of all other amounts) and (iii) in the case of any such assignment resulting from a claim for compensation under Section 2.13(f) or Section 2.15 or payments required to
be made pursuant to Section 2.17, such assignment will result in a reduction in such compensation or payments. A Lender shall not be required to make any such assignment and delegation if, prior thereto, as a result of a
waiver by such Lender or otherwise, the circumstances entitling the Borrower to require such assignment and delegation cease to apply. If any Lender refuses to assign and delegate all its interests, rights and obligations under this Agreement after
the Borrower has required such Lender to do so as a result of a claim for compensation under Section 2.13(f) or Section 2.15 or payments required to be made pursuant to
Section 2.17, such Lender shall not be entitled to receive such compensation or required payments. 
 SECTION
2.20. Separateness. The Lenders acknowledge and affirm (i) their reliance on the separateness of EPD, Enterprise GP, Borrower and Manager from each other and from other Persons, including EPCO, EPCO Holdings, Inc. (“Finco”),
Duncan Family Interests, Inc. (“DFI”), DFI GP Holdings L.P. (“DFI GP”) and DFI Holdings, LLC (“DFI Holdings”), (ii) that other creditors of the Borrower, Manager, EPD or Enterprise GP have likely advanced funds to such
Persons in reliance upon the separateness of the Borrower, Manager, EPD and Enterprise GP from each other and from other Persons, including EPCO, Finco, DFI, DFI GP and DFI 

  
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Holdings, (iii) that each of the Borrower, Manager, EPD and Enterprise GP have assets and liabilities that are separate from those of each other and from other Persons, including EPCO,
Finco, DFI, DFI GP and DFI Holdings, (iv) that the Loans and other obligations owing under this Agreement, the Notes and documents related hereto or thereto have not been guaranteed by Manager, Enterprise GP, EPCO, Finco, DFI, DFI GP or DFI
Holdings, and (v) that, except as other Persons may expressly assume or guarantee this Agreement, the Notes or any documents related hereto or thereto or any of the Loans or other obligations thereunder, the Lenders shall look solely to the
Borrower and, pursuant to the EPD Guaranty Agreement, EPD, and their respective property and assets, and any property pledged as collateral with respect hereto or thereto, for the repayment of any amounts payable pursuant hereto or thereto and for
satisfaction of any obligations owing to the Lenders hereunder or thereunder and that neither Enterprise GP nor Manager is personally liable to the Lenders for any amounts payable or any liability hereunder or thereunder. 

SECTION 2.21. Defaulting Lenders. 

(a)    Adjustments. Notwithstanding anything to the contrary contained in this Agreement, if any Lender becomes a
Defaulting Lender, then, until such time as that Lender is no longer a Defaulting Lender, to the extent permitted by applicable law: 

(i)    Waivers and Amendments. That Defaulting Lender’s right to approve or disapprove any
amendment, waiver or consent with respect to this Agreement shall be restricted as set forth in Section 9.02(b). 

(ii)    Reallocation of Payments. Any payment of principal, interest, fees or other amounts received
by the Administrative Agent for the account of that Defaulting Lender (whether voluntary or mandatory, at maturity, pursuant to Article VII or otherwise, and including any amounts made available to the Administrative Agent by that Defaulting
Lender pursuant to Section 9.08), shall be applied at such time or times as may be determined by the Administrative Agent as follows: first, to the payment of any amounts owing by that Defaulting Lender to the
Administrative Agent hereunder; second, as the Borrower may request (so long as no Default or Event of Default exists), to the funding of any Loan in respect of which that Defaulting Lender has failed to fund its portion thereof as required
by this Agreement, as determined by the Administrative Agent; third, if so determined by the Administrative Agent and the Borrower, to be held in a non-interest bearing deposit account and released
in order to satisfy obligations of that Defaulting Lender to fund Loans under this Agreement; fourth, to the payment of any amounts then owing to the Lenders as a result of any judgment of a court of competent jurisdiction obtained by
any Lender against that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; fifth, so long as no Default or Event of Default exists, to the payment of any amounts then owing to the
Borrower as a result of any judgment of a court of competent jurisdiction obtained by the Borrower against that Defaulting Lender as a result of that Defaulting Lender’s breach of its obligations under this Agreement; and sixth, to that
Defaulting Lender or as otherwise directed by a court of competent jurisdiction; provided that if (x) such payment is a payment of the principal amount of any Loans in respect of which that Defaulting Lender has not fully funded its
appropriate share and (y) such Loans were made at a time when the conditions set forth in Section 4.02 were satisfied or waived, such payment shall be applied solely to pay the Loans of all Non-Defaulting Lenders on a
pro rata basis prior to 

  
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being applied to the payment of any Loans of that Defaulting Lender. Any payments, prepayments or other amounts paid or payable to a Defaulting Lender that are applied (or held) to pay amounts
owed by a Defaulting Lender shall be deemed paid to and redirected by that Defaulting Lender, and each Lender irrevocably consents hereto. Upon making any payment to the Administrative Agent for the account of a Defaulting Lender, the
Borrower’s obligation to pay such amount to such Defaulting Lender shall be fully discharged and such Defaulting Lender shall have no recourse to the Borrower for the payment of such amount. 

(iii)    Certain Fees. That Defaulting Lender shall not be entitled to receive any facility fees
with respect to its undrawn Commitment pursuant to Section 2.12(a) for any period during which that Lender is a Defaulting Lender (and the Borrower shall not be required to pay any such fee that otherwise would have been required to have been
paid to that Defaulting Lender). 
 (b)    Defaulting Lender Cure. If the Borrower and the Administrative Agent
agree in writing in their sole discretion that a Lender is no longer a Defaulting Lender, the Administrative Agent will so notify the parties hereto, whereupon as of the effective date specified in such notice and subject to any conditions set forth
therein, such Lender will, to the extent applicable, purchase at par such portion of outstanding Loans of the other Lenders and/or make such other adjustments as the Administrative Agent may determine to be necessary to cause the Exposure of the
Lenders to be on a pro rata basis in accordance with their respective Commitments, whereupon such Lender will cease to be a Defaulting Lender and will be a Non-Defaulting Lender (and such Exposure of each
Lender will automatically be adjusted on a prospective basis to reflect the foregoing); provided that no adjustments will be made retroactively with respect to fees accrued or payments made by or on behalf of the Borrower while such Lender was a
Defaulting Lender; and provided, further, that except to the extent otherwise expressly agreed by the affected parties, no change hereunder from Defaulting Lender to Non-Defaulting Lender will constitute a
waiver or release of any claim of any party hereunder arising from such Lender’s having been a Defaulting Lender. 

(c)    Termination of Defaulting Lender Commitment. The Borrower may terminate the unused amount of the Commitment
of a Defaulting Lender upon not less than five (5) Business Days’ prior notice to the Administrative Agent (which will promptly notify the Lenders thereof), and in such event the provisions of Section 2.21(a)(ii)
will apply to all amounts thereafter paid by the Borrower for the account of such Defaulting Lender under this Agreement (whether on account of principal, interest, fees, indemnity or other amounts), provided that such termination will not be deemed
to be a waiver or release of any claim the Borrower, the Administrative Agent or any Lender may have against such Defaulting Lender. 

  
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 ARTICLE III 

Representations and Warranties 

The Borrower represents and warrants to the Lenders that: 

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

SECTION 3.02. Authorization; Enforceability. The Transactions are within the Borrower’s limited liability company powers and have
been duly authorized by all necessary limited liability company and, if required, member action. This Agreement has been duly executed and delivered by the Borrower and constitutes a legal, valid and binding obligation of the Borrower, enforceable
against the Borrower in accordance with its terms, subject to applicable bankruptcy, insolvency, reorganization, moratorium or other laws affecting creditors’ rights generally and subject to general principles of equity, regardless of whether
considered in a proceeding in equity or at law. 
 SECTION 3.03. Governmental Approvals; No Conflicts. The Transactions (a) do
not require any consent or approval of, registration or filing with, or any other action by, any Governmental Authority, except such as have been obtained or made and are in full force and effect as of the Effective Date, other than filings after
the Effective Date in the ordinary course of business, (b) will not violate any law or regulation applicable to the Borrower or the limited liability company agreement, charter, by-laws or other
organizational documents of the Borrower or any of its Subsidiaries or any order of any Governmental Authority to which the Borrower or any of its Subsidiaries is subject, (c) will not violate or result in a default under any material
indenture, agreement or other instrument binding upon the Borrower or any of its Subsidiaries or its assets, or (except for the Existing Credit Facility) give rise to a right thereunder to require any payment to be made by the Borrower or any of its
Subsidiaries and (d) will not result in the creation or imposition of any Lien on any asset of the Borrower or any of its Subsidiaries that is prohibited hereby. 

SECTION 3.04. Financial Condition. The Borrower has heretofore furnished to the Lenders the consolidated balance sheets of the Borrower
and its consolidated Subsidiaries and the related consolidated statements of income, equity and cash flow of the Borrower and its consolidated Subsidiaries (i) as of and for the fiscal year ended December 31, 2020, such consolidated
financial statements audited by an independent accounting firm of national standing, and (ii) as of and for the fiscal quarter and the portion of the fiscal year ended June 30, 2021, unaudited and certified by a Financial Officer. Such
financial statements present fairly, in all material respects, the financial position and results of operations and cash flows of the Borrower and its consolidated Subsidiaries as of such dates and for such periods in accordance with GAAP, subject
to year-end audit adjustments and the absence of footnotes in the case of the statements referred to in clause (ii) above. 

SECTION 3.05. Litigation and Environmental Matters. (a) There are no actions, suits or proceedings by or before any arbitrator or
Governmental Authority pending against or, to the knowledge of the Borrower, threatened in writing against or affecting the Borrower or any of its Subsidiaries (i) as to which there is a reasonable possibility of an adverse determination and
that, if adversely determined, could reasonably be expected, individually or in the aggregate, to result in a Material Adverse Effect (other than the Disclosed Matters) or (ii) that involve this Agreement or the Transactions. 

  
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 (b)    Except for the Disclosed Matters and except with respect to any
other matters that, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect, neither the Borrower nor any of its Subsidiaries (i) has failed to comply with any Environmental Law or to obtain,
maintain or comply with any permit, license or other approval required under any Environmental Law, (ii) has become subject to any Environmental Liability, (iii) has received notice of any claim with respect to any Environmental Liability
or (iv) knows of any basis for any Environmental Liability. 
 (c)    Since the date of this Agreement, there has
been no change in the status of the Disclosed Matters that, individually or in the aggregate, has resulted in a Material Adverse Effect. 

SECTION 3.06. Compliance with Laws. Each of the Borrower and its Subsidiaries is in compliance with all laws, regulations and orders of
any Governmental Authority applicable to it or its property, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. No Default has occurred and is continuing.

 SECTION 3.07. Investment Company Status. Neither the Borrower nor any of its Subsidiaries is an “investment company” as
defined in, or subject to regulation under, the Investment Company Act of 1940. 
 SECTION 3.08. Taxes. Each of the Borrower and its
Subsidiaries has timely filed or caused to be filed all Tax returns and reports required to have been filed and has paid or caused to be paid all Taxes required to have been paid by it, except (a) Taxes that are being contested in good faith by
appropriate proceedings and for which the Borrower or such Subsidiary, as applicable, has set aside on its books adequate reserves or (b) to the extent that the failure to do so could not reasonably be expected to result in a Material Adverse
Effect. 
 SECTION 3.09. ERISA. No ERISA Event has occurred or is reasonably expected to occur that, when taken together with all
other such ERISA Events for which liability is reasonably expected to occur, could reasonably be expected to result in a Material Adverse Effect. 

SECTION 3.10. Disclosure. Neither the Information Memorandum nor any of the other reports, financial statements, certificates or other
information furnished by or on behalf of the Borrower to the Administrative Agent or any Lender in connection with the negotiation of this Agreement (as modified or supplemented by other information so furnished) contains any material misstatement
of fact or omits to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided that, with respect to projected financial information, the
Borrower represents only that such information was prepared in good faith based upon assumptions believed to be reasonable at the time. As of the Effective Date, Borrower hereby certifies that the Borrower qualifies for an express exclusion to the
“legal entity customer” definition under the Beneficial Ownership Regulation. 
 SECTION 3.11. Reserved. 

  
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 SECTION 3.12. Margin Securities. Neither the Borrower nor any Subsidiary is engaged
principally, or as one of its important activities, in the business of extending credit for the purpose of purchasing or carrying margin stock (within the meaning of Regulations U or X of the Board of Governors of the Federal Reserve System), and no
part of the proceeds of any Loan will be used to purchase or carry any margin stock in violation of said Regulations U or X or to extend credit to others for the purpose of purchasing or carrying margin stock in violation of said Regulations U or X.

 SECTION 3.13. Anti-Corruption Laws; Sanctions Laws and Regulations. The Borrower and its Subsidiaries have instituted and maintain
policies and procedures designed to ensure, and which are reasonably expected to continue to ensure, continued compliance with Anti-Corruption Laws and applicable Sanctions Laws and Regulations. The Borrower and its Subsidiaries and, to the
knowledge of the Borrower and its Subsidiaries, their respective officers, employees, directors and agents, are in compliance with Anti-Corruption Laws and applicable Sanctions Laws and Regulations in all respects (for the avoidance of doubt, this
representation shall not fail to be true and correct due to any failure or failures to comply with Anti-Corruption Laws (i) that are isolated and do not evidence a pervasive or systemic pattern of violations of such laws and regulations or a
significant deficiency in the implementation of the aforesaid policies and procedures to ensure compliance by the Borrower and its Subsidiaries with Anti-Corruption Laws or (ii) that arise from actions or incidents that have been publicly
disclosed by the Borrower or disclosed in writing to the Administrative Agent (with a copy to Lenders), in each case, at least twenty (20) days prior to the Effective Date). Neither the Borrower nor any of its Subsidiaries, or to their
knowledge any of their directors or officers, or any of their respective agents acting or benefiting in any capacity in connection with this Agreement, is a Designated Person or is knowingly engaged in any activity that could reasonably be
expected to result in such Person becoming a Designated Person. No Loan, use of proceeds or other transaction contemplated by this Agreement will result in a violation of Anti-Corruption Laws or applicable Sanctions Laws and Regulations by the
Borrower or any of its Subsidiaries. 
 ARTICLE IV 

Conditions 
 SECTION 4.01.
Effective Date. The obligations of the Lenders to make Loans hereunder shall not become effective until the Effective Date which is scheduled to occur when each of the following conditions is satisfied: 

(a)    The Administrative Agent (or its counsel) shall have received from each party hereto either (i) a counterpart
of this Agreement signed on behalf of such party or (ii) written evidence satisfactory to the Administrative Agent (which may include telecopy transmission of a signed signature page of this Agreement) that such party has signed a counterpart
of this Agreement. 
 (b)    The Administrative Agent shall have received favorable written opinions (addressed to the
Administrative Agent and the Lenders and dated the Effective Date) of Christopher S. Wade, in-house counsel for Borrower and EPD and Mayer Brown LLP, counsel for Borrower and EPD, substantially in the forms of
Exhibits D-1 and D-2. 

  
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 (c)    The Administrative Agent shall have received such documents and
certificates as the Administrative Agent or its counsel may reasonably request relating to (1) the organization and existence of the Borrower and EPD, (2) the authorization of the Transactions and any other legal matters relating to the
Borrower, this Agreement or the Transactions, all in form and substance reasonably satisfactory to the Administrative Agent and its counsel, and (3) with respect to EPD, the authorization of the EPD Guaranty Agreement and any other legal
matters relating to EPD. 
 (d)    The Administrative Agent shall have received the EPD Guaranty Agreement dated as of
the date hereof, duly and validly executed by EPD. 
 (e)    The Administrative Agent shall have received each
promissory note requested by a Lender pursuant to Section 2.10(e), each duly completed and executed by the Borrower. 

(f)    The Administrative Agent shall have received a certificate, dated the Effective Date and signed by the President,
an Executive Vice President or a Financial Officer, confirming compliance with the conditions set forth in Section 4.01(h) and paragraphs (a) and (b) of Section 4.02. 

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

(h)    As of the Effective Date, no Material Adverse Change exists. 

(i)    The Lenders shall have received (i) the audited financial statements for the Borrower and its Subsidiaries for
the period ended December 31, 2020, and (ii) the unaudited financial statements for the Borrower and its Subsidiaries and EPD’s Form 10-Q for the fiscal quarter ending June 30, 2021. 

(j)    All necessary governmental and third-party approvals, if any, required to be obtained by the Borrower in connection
with the Transactions and otherwise referred to herein shall have been obtained and remain in effect (except where failure to obtain such approvals will not have a Material Adverse Effect), and all applicable waiting periods shall have expired
without any action being taken by any applicable authority. 
 (k)    All obligations and indebtedness under the
Existing Credit Facility shall be contemporaneously refinanced pursuant hereto and the Existing Credit Facility shall have been terminated and replaced hereby. 

(l)    The Borrower shall have entered into the Multi-Year Credit Facility, in form and substance reasonably satisfactory
to the Administrative Agent, refinancing all obligations and indebtedness under the Existing Multi-Year Credit Facility, effective contemporaneous with the effectiveness hereof, providing for, among other things, that each Lender’s
“Applicable Percentage” (as defined therein) thereunder is equal to such Lender’s Applicable Percentage hereunder as of the effectiveness hereof, and the Administrative Agent shall have received a copy thereof. 

  
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 The Administrative Agent shall notify the Borrower and the Lenders of the Effective Date, and such notice
shall be conclusive and binding. 
 SECTION 4.02. Each Credit Event. The obligation of each Lender to make a Loan on the occasion of
any Borrowing (exclusive of continuations and conversions of a Borrowing) is subject to the satisfaction of the following conditions: 

(a)    The representations and warranties of the Borrower set forth in this Agreement shall be true and correct in all
material respects (except that any representation and warranty that is qualified by materiality shall be true and correct in all respects) on and as of the date of such Borrowing, except to the extent that such representations and warranties
specifically refer to an earlier date, in which case they were true and correct in all material respects as of such earlier date. 

(b)    At the time of and immediately after giving effect to such Borrowing, no Default shall have occurred and be
continuing. 
 Each Borrowing shall be deemed to constitute a representation and warranty by the Borrower on the date thereof as to the matters specified in
paragraphs (a) and (b) of this Section. 
 ARTICLE V 

Affirmative Covenants 

Until the Commitments have expired or been terminated and the principal of and interest on each Loan and all fees payable hereunder shall have
been paid in full, the Borrower covenants and agrees with the Lenders that: 
 SECTION 5.01. Financial Statements and Other
Information. The Borrower will furnish, or cause to be furnished, to the Administrative Agent and each Lender: 

(a)    within 15 days after filing same with the Securities and Exchange Commission (“SEC”), copies of
each annual report on Form 10-K, quarterly report on Form 10-Q and report on Form 8-K (or any successor or substitute forms) that
EPD is required to file with the SEC pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, as amended, and any successor statute (the “Exchange Act”); 

(b)    within 15 days after filing same with the SEC, copies of each annual report on Form
10-K, quarterly report on Form 10-Q and report on Form 8-K (or any successor or substitute forms) that the Borrower is required
to file with the SEC pursuant to Section 13 or 15(d) of the Exchange Act; 
 (c)    if the Borrower is not subject
to the requirements of Section 13 or 15(d) of the Exchange Act and EPD owns direct subsidiaries (other than the Borrower and its Subsidiaries), promptly after becoming available and in any event within 105 days after the close of each fiscal
year of the Borrower (i) the audited consolidated balance sheets of the Borrower and its consolidated Subsidiaries as at the end of such year and (ii) the audited consolidated statements of income, equity and cash flow of the Borrower and
its consolidated Subsidiaries for such year setting forth in each case in comparative form the corresponding figures for the preceding fiscal year, which report shall be to the effect that such statements have been prepared in accordance with GAAP;

  
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 (d)    if the Borrower is not subject to Section 13 or 15(d) of the
Exchange Act and EPD owns direct subsidiaries (other than the Borrower and its Subsidiaries), promptly after their becoming available and in any event within 60 days after the close of each of the first three fiscal quarters of each fiscal year of
the Borrower, (i) the unaudited consolidated balance sheets of the Borrower and its consolidated Subsidiaries as at the end of such quarter and (ii) the unaudited consolidated statements of income, equity and cash flow of the Borrower for
such quarter, setting forth in each case in comparative form the corresponding figures for the preceding fiscal year, all of the foregoing certified by a Financial Officer to have been prepared in accordance with GAAP subject to normal changes
resulting from year-end adjustment and accompanied by a written discussion of the financial performance and operating results, including the major assets, of the Borrower for such quarter; and 

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

SECTION 5.02. Notices of Material Events. The Borrower will furnish to the Administrative Agent and each Lender prompt written notice
of the following: 
 (a)    the occurrence of any Event of Default; and 

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

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

SECTION 5.03. Existence; Conduct of Business. The Borrower will do or cause to be done all things necessary to preserve, renew and keep
in full force and effect its legal existence and the rights, licenses, permits, privileges and franchises material to the conduct of its business; provided that the foregoing shall not prohibit any merger, amalgamation, consolidation,
liquidation or dissolution not prohibited under Section 6.03. 
 SECTION 5.04. Maintenance of Properties;
Insurance. The Borrower will, and will cause each of its Subsidiaries to, (a) keep and maintain all property material to the conduct of its business in good working order and condition, ordinary wear and tear excepted, and
(b) maintain, with financially sound and reputable insurance companies, insurance in such amounts and against such risks as are customarily maintained by companies engaged in the same or similar businesses operating in the same or similar
locations. 

  
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 SECTION 5.05. Books and Records; Inspection Rights. The Borrower will, and will cause
each of its Subsidiaries to, keep in accordance with GAAP proper books of record and account in which full, true and correct entries are made in all material respects of all dealings and transactions in relation to its business and activities. The
Borrower will, and will cause each of its Subsidiaries to, permit any representatives designated by the Administrative Agent or any Lender, upon reasonable prior notice, to visit and inspect its properties, to examine and make extracts from its
books and records, and to discuss its affairs, finances and condition with its officers and independent accountants, all at such reasonable times and as often as reasonably requested. 

SECTION 5.06. Compliance with Laws. The Borrower will, and will cause each of its Subsidiaries to, comply with all laws, rules,
regulations and orders of any Governmental Authority applicable to it or its property, except where the failure to do so, individually or in the aggregate, could not reasonably be expected to result in a Material Adverse Effect. The Borrower and its
Subsidiaries will maintain in effect and enforce policies and procedures designed to ensure, and which are reasonably expected to continue to ensure, continued compliance with Anti-Corruption Laws and applicable Sanctions Laws and Regulations. The
Borrower shall (a) notify the Administrative Agent and each Lender if the Borrower ceases to fall within an express exclusion to the “legal entity customer” definition under the Beneficial Ownership Regulation, and (b) following
any such notice, promptly upon the reasonable request of the Administrative Agent or any Lender, provide the Administrative Agent or directly to such Lender, as the case may be, any Beneficial Ownership Certification as may be required by the
Beneficial Ownership Regulation or any other information or documentation reasonably requested by it for purposes of complying with the Beneficial Ownership Regulation. 

SECTION 5.07. Use of Proceeds. The proceeds of the Loans will be used only (a) for the refinancing of the Indebtedness under the
Existing Credit Facility, and for payment of transaction expenses related to the Transactions, and (b) for working capital, capital expenditures, acquisitions and other company purposes. No part of the proceeds of any Loan will be used, whether
directly or indirectly, for any purpose that entails a violation of any of the Regulations of the Board, including Regulations U and X. The Borrower and its Subsidiaries shall not, and, to their knowledge, their respective officers, employees,
directors and agents (in their capacity as officers, employees, directors or agents, respectively, of the Borrower or any of its Subsidiaries), shall not, use the proceeds of any Loan (i) to fund any activities or business of or with any
Designated Person, or in any country or territory, that at the time of such funding is the subject of any sanctions under any Sanctions Laws and Regulations (on the Effective Date, Crimea (Ukraine-related), Cuba, Iran, North Korea, Syria and
Venezuela), (ii) in any other manner that would result in a material violation of any Sanctions Laws and Regulations by the Borrower or its Subsidiaries or (iii) in furtherance of an offer, payment, promise to pay, or authorization of the
payment or giving of money, or anything else of value, to any Person in violation of any Anti-Corruption Laws. 
 SECTION 5.08.
Environmental Matters. The Borrower has established and implemented, or will establish and implement, and will cause each of its Subsidiaries to establish and implement, such procedures as may be necessary to assure that (except for any
failure of the following that, individually or in the aggregate, does not have a Material Adverse Effect): (i) all property of the Borrower and its Subsidiaries and the operations conducted thereon are in compliance with and do not violate the
requirements of any Environmental Laws, (ii) no oil or 

  
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solid wastes are disposed of or otherwise released on or to any property owned by the Borrower or its Subsidiaries except in compliance with Environmental Laws, (iii) no Hazardous Materials
will be released on or to any such property in a quantity equal to or exceeding that quantity which requires reporting pursuant to Section 103 of CERCLA, and (iv) no oil or Hazardous Materials is released on or to any such property so as
to pose an imminent and substantial endangerment to public health or welfare or the environment. 
 SECTION 5.09 ERISA Information.
The Borrower will furnish to the Administrative Agent: 
 (a) within 15 Business Days after the institution of or the
withdrawal or partial withdrawal by the Borrower, any Subsidiary or any ERISA Affiliate from any Multiemployer Plan which would cause the Borrower, any Subsidiary or any ERISA Affiliate to incur Withdrawal Liability in excess of $100,000,000 (in the
aggregate for all such withdrawals), a written notice thereof signed by an executive officer of the Borrower stating the applicable details; and 

(b) within 15 Business Days after an officer of the Borrower becomes aware of any material action at law or at equity brought
against the Borrower, any of its Subsidiaries, any ERISA Affiliate, or any fiduciary of a Plan in connection with the administration of any Plan or the investment of assets thereunder, a written notice signed by an executive officer of the Borrower
specifying the nature thereof and what action the Borrower is taking or proposes to take with respect thereto. 
 SECTION 5.10 Taxes.
The Borrower will, and will cause each of its Subsidiaries to, pay and discharge, or cause to be paid and discharged, promptly or make, or cause to be made, timely deposit of all taxes (including Federal Insurance Contribution Act payments and
withholding taxes), assessments and governmental charges or levies imposed upon the Borrower or any Subsidiary or upon the income or any property of the Borrower or any Subsidiary; provided, however, that neither the Borrower nor any
Subsidiary shall be required to pay any such tax, assessment, charge, levy or claim if the amount, applicability or validity thereof shall currently be contested in good faith by appropriate proceedings diligently conducted by or on behalf of the
Borrower or its Subsidiary, and if the Borrower or its Subsidiary shall have set up reserves therefor adequate under GAAP or if no Material Adverse Effect shall be occasioned by all such failures in the aggregate. 

ARTICLE VI 
 Negative Covenants

 Until the Commitments have expired or terminated and the principal of and interest on each Loan and all fees payable hereunder have
been paid in full, the Borrower covenants and agrees with the Lenders that: 
 SECTION 6.01. Reserved. 

  
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 SECTION 6.02. Liens. The Borrower shall not, and shall not permit any Subsidiary
(other than Project Finance Subsidiaries) or EPD to, create, assume, incur or suffer to exist any Lien, other than a Permitted Lien, on any Principal Property or upon any Equity Interests of the Borrower or any Subsidiary (other than Project Finance
Subsidiaries) owning or leasing any Principal Property, now owned or hereafter acquired by the Borrower or such Subsidiary to secure any Indebtedness of the Borrower, EPD or any other Person (other than the Indebtedness under this Agreement),
without in any such case making effective provision whereby any and all Indebtedness under this Agreement then outstanding will be secured by a Lien equally and ratably with, or prior to, such Indebtedness for so long as such Indebtedness shall be
so secured. Notwithstanding the foregoing, the Borrower may, and may permit any Subsidiary (other than a Project Finance Subsidiary) and EPD to, create, assume, incur or suffer to exist any Lien upon any Principal Property to secure Indebtedness of
the Borrower, EPD or any other Person (other than the Indebtedness under this Agreement), other than a Permitted Lien without securing the Indebtedness under this Agreement, provided that the aggregate principal amount of all Indebtedness
then outstanding secured by such Lien and all similar Liens together with the aggregate amount of Attributable Indebtedness deemed to be outstanding in respect of all Sale/Leaseback Transactions (exclusive of any Permitted Sale/Leaseback
Transactions), does not exceed 10% of Consolidated Net Tangible Assets. 
 SECTION 6.03. Fundamental Changes. The Borrower will not
merge into or consolidate with any other Person, or permit any other Person to merge into or consolidate with it, or sell, transfer, lease or otherwise dispose of (in one transaction or in a series of transactions) all or substantially all of its
assets, or all or substantially all of the Equity Interests of any of its Subsidiaries (other than Project Finance Subsidiaries) (in each case, whether now owned or hereafter acquired), or liquidate or dissolve, except that, if at the time thereof
and immediately after giving effect thereto no Default shall have occurred and be continuing (i) any Person may merge into or consolidate with the Borrower in a transaction in which the Borrower is the surviving entity, (ii) any Subsidiary
of the Borrower may be merged into, amalgamated with or consolidated with another Subsidiary, change its jurisdiction of organization, or change the type of business entity in which it conducts its business, and (iii) Borrower may sell or
otherwise dispose of all or any portion of the Equity Interests of any of its Subsidiaries. 
 SECTION 6.04. Investment Restriction.
Neither the Borrower nor any Subsidiary (other than a Project Finance Subsidiary) will make or suffer to exist investments in Project Finance Subsidiaries, in the aggregate at any one time outstanding, in excess of the sum of (i) the amount of
investments existing as of the Effective Date in Project Finance Subsidiaries, (ii) $150,000,000, and (iii) the amount of any portion of the investments permitted by this Section 6.04 repaid to the Borrower or any
Subsidiary as a dividend, repayment of a loan or advance, release or discharge of a guarantee or other obligation or other transfer of property or return of capital, as the case may be, occurring after the Effective Date. Computation of the amount
of any investment shall be made without any adjustment for increases or decreases in value, or write-ups, write-downs or write-offs with respect to such investment or interest or other earnings on such
investment. 
 SECTION 6.05. Restricted Payments. The Borrower will not, and will not permit any of its Subsidiaries (other than
Project Finance Subsidiaries) to, declare or make, or agree to pay or make, directly or indirectly, any Restricted Payment, except as long as no Event of Default has occurred and is continuing or would result therefrom, (i) the Borrower and the
Subsidiaries may make Restricted Payments necessary to fund the Program, (ii) the Borrower may make Restricted Payments from Available Cash (as defined in the Company Agreement) from Operating Surplus (as defined in the Company Agreement)
cumulative from January 1, 1999 through the date of 

  
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such Restricted Payment, (iii) any Subsidiary may buy back any of its own Equity Interests, and (iv) the Borrower and its Subsidiaries may make payments or other distributions to
officers, directors or employees with respect to the exercise by any such Persons of options, warrants or other rights to acquire Equity Interests in EPD, the Borrower or such Subsidiary issued pursuant to an employment, equity award, equity option
or equity appreciation agreement or plans entered into by EPD, the Borrower or such Subsidiary in the ordinary course of business; provided, that even if an Event of Default shall have occurred and is continuing, no Subsidiary shall be
prohibited from upstreaming dividends or other payments to the Borrower or any Subsidiary (which is not a Project Finance Subsidiary) or making, in the case of any Subsidiary that is not wholly-owned (directly or indirectly) by the Borrower, ratable
dividends or payments, as the case may be, to the other owners of Equity Interests in such Subsidiary. 
 SECTION 6.06. Restrictive
Agreements. The Borrower will not, and will not permit any of its Subsidiaries (other than Project Finance Subsidiaries) to, directly or indirectly, enter into, incur or permit to exist any agreement or other arrangement with any Person, other
than the Lenders pursuant hereto, which prohibits, restricts or imposes any conditions upon the ability of any Subsidiary (other than Project Finance Subsidiaries) to (a) pay dividends or make other distributions or pay any Indebtedness owed to
the Borrower or any Subsidiary, or (b) make subordinate loans or advances to or make other investments in the Borrower or any Subsidiary in each case, other than restrictions or conditions contained in, or existing by reasons of, any agreement
or instrument (i) existing on the date hereof and identified on Schedule 6.06, (ii) relating to property existing at the time of the acquisition thereof, so long as the restriction or condition relates only to the property so acquired,
(iii) relating to any Indebtedness of, or otherwise to, any Subsidiary at the time such Subsidiary was merged, amalgamated or consolidated with or into, or acquired by, the Borrower or a Subsidiary or became a Subsidiary and not created in
contemplation thereof, (iv) effecting a renewal, extension, refinancing, refund or replacement (or successive extensions, renewals, refinancings, refunds or replacements) of Indebtedness issued under an agreement referred to in clauses
(i) through (iii) above, so long as the restrictions and conditions contained in any such renewal, extension, refinancing, refund or replacement agreement, taken as a whole, are not materially more restrictive than the restrictions and
conditions contained in the original agreement, as determined in good faith by the board of directors of the Manager, (v) constituting customary provisions restricting subletting or assignment of any leases of the Borrower or any Subsidiary or
provisions in agreements that restrict the assignment of such agreement or any rights thereunder, (vi) constituting restrictions on the sale or other disposition of any property securing Indebtedness as a result of a Lien on such property
permitted hereunder, (vii) constituting any temporary encumbrance or restriction with respect to a Subsidiary under an agreement that has been entered into for the disposition of all or substantially all of the outstanding Equity Interests of
or assets of such Subsidiary, provided that such disposition is otherwise permitted hereunder, (viii) constituting customary restrictions on cash, other deposits or assets imposed by customers and other persons under contracts entered
into in the ordinary course of business, (ix) constituting provisions contained in agreements or instruments relating to Indebtedness that prohibit the transfer of all or substantially all of the assets of the obligor under that agreement or
instrument unless the transferee assumes the obligations of the obligor under such agreement or instrument or such assets may be transferred subject to such prohibition, (x) constituting a requirement that a certain amount of Indebtedness be
maintained between a Subsidiary and the Borrower or another Subsidiary, (xi) constituting any restriction or condition with respect to property under an agreement that has been entered into for the disposition of such property, provided
that such 

  
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disposition is otherwise permitted hereunder, (xii) constituting any restriction or condition with respect to property under a charter, lease or other agreement that has been entered into
for the employment of such property or (xiii) that is a Hybrid Security or an indenture, document, agreement or security entered into or issued in connection with a Hybrid Security or otherwise constituting a restriction or condition on the
payment of dividends or distributions by an issuer of a Hybrid Security. 
 SECTION 6.07 Financial Condition Covenant. 

Ratio of Consolidated Indebtedness to Consolidated EBITDA. The Borrower shall not permit its Debt Coverage Ratio in each case for the
four full fiscal quarters most recently ended to exceed: 
 5.00 to 1.00 as of the last day of any fiscal quarter; 

provided, following a Specified Acquisition (defined below), such ratio shall not exceed 

5.50 to 1.00 as of the last day of (i) the fiscal quarter in which the Specified Acquisition occurred (the “Acquisition
Quarter”), and (ii) the two fiscal quarters following the Acquisition Quarter. 
 As used herein, “Specified Acquisition”
means, at the election of Borrower, one or more acquisitions of assets or entities or operating lines or divisions in any rolling 12-month period for an aggregate purchase price of not less than $100,000,000;
provided, in the event the Debt Coverage Ratio exceeds 5.00 to 1.00 at the end of any fiscal quarter in which one or more acquisitions otherwise qualifying as a Specified Acquisition but for Borrower’s failure to so elect shall have
occurred, Borrower shall be deemed to have so elected a Specified Acquisition with respect thereto; provided, further, following the election (or deemed election) of a Specified Acquisition, Borrower may not elect (or be deemed to have
elected) a subsequent Specified Acquisition unless, at the time of such subsequent election, the Debt Coverage Ratio does not exceed 5.00 to 1.00. 
 For
purposes of calculating such ratio the Project Finance Subsidiaries shall be disregarded; however, such exclusion does not apply to, and there shall be included in such calculation, the amount of cash dividends or distributions payable with respect
to such a period by a Project Finance Subsidiary which are actually received by the Borrower or a Subsidiary (other than a Project Finance Subsidiary) on or prior to the date the financial statements with respect to such period referred to in
Section 5.01 are required to be delivered by Borrower. For purposes of this Section 6.07, if during any period of four fiscal quarters the Borrower or any Subsidiary acquires any Person (or any
interest in any Person) or all or substantially all of the assets of any Person, the EBITDA attributable to such assets or an amount equal to the percentage of ownership of the Borrower or a Subsidiary, as the case may be, in such Person times the
EBITDA of such Person, for such period determined on a pro forma basis (which determination, in each case, shall be subject to approval of the Administrative Agent, not to be unreasonably withheld) may be included as Consolidated EBITDA for such
period as if such acquisition occurred on the first day of such four fiscal quarter period; provided that during the portion of such period that follows such acquisition, the computation in respect of the EBITDA of such Person or such
assets, as the case may be, shall be made on the basis of actual (rather than pro forma) results. 

  
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 In addition, for purposes of this Section 6.07, Hybrid Securities up to an
aggregate amount of 15% of Consolidated Total Capitalization shall be excluded from Consolidated Indebtedness and Consolidated EBITDA may include, at Borrower’s option, any Material Project EBITDA Adjustments as provided in the definition
thereof. 
 ARTICLE VII 

Events of Default 
 If any
of the following events (“Events of Default”) shall occur: 
 (a)    the Borrower shall fail to pay any
principal of any Loan when and as the same shall become due and payable, whether at the due date thereof or at a date fixed for prepayment thereof or otherwise; 

(b)    the Borrower shall fail to pay any interest on any Loan or any fee or any other amount (other than an amount
referred to in clause (a) of this Article) payable under this Agreement, when and as the same shall become due and payable, and such failure shall continue unremedied for a period of five (5) Business Days; 

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

(d)    the Borrower shall fail to observe or perform any covenant, condition or agreement contained in
Section 5.02, 5.03 (with respect to the Borrower’s existence) or 5.07 or in Article VI; 

(e)    the Borrower shall fail to observe or perform any covenant, condition or agreement contained in this Agreement
(other than those specified in clause (a), (b) or (d) of this Article), and such failure shall continue unremedied for a period of 30 days after written notice thereof from the Administrative Agent to the Borrower (which notice will be
given at the request of any Lender); 
 (f)    the Borrower or any Material Subsidiary (other than Project Finance
Subsidiaries) shall (i) fail to pay (A) any principal of or premium or interest on any Material Indebtedness of the Borrower or such Material Subsidiary (as the case may be), or (B) aggregate net obligations under one or more Hedging
Agreements (excluding amounts the validity of which are being contested in good faith by appropriate proceedings, if necessary, and for which adequate reserves with respect thereto are maintained on the books of the Borrower or such Material
Subsidiary (as the case may be)) in excess of $100,000,000, in each case when the same becomes due and payable (whether by scheduled maturity, required prepayment, acceleration, demand or otherwise), and such failure shall continue after the
applicable grace period, if any, specified in the agreement or instrument relating to such Material Indebtedness or such Hedging Agreements; or (ii) default in the observance or performance of any covenant or obligation contained in any

  
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agreement or instrument relating to any such Material Indebtedness that in substance is customarily considered a default in loan documents (in each case, other than a failure to pay specified in
clause (i) of this subsection (f)) and such default shall continue after the applicable grace period, if any, specified in such agreement or instrument, if the effect thereof is to accelerate the maturity of such Material Indebtedness or
require such Material Indebtedness to be prepaid prior to the stated maturity thereof; for the avoidance of doubt the parties acknowledge and agree that any payment required to be made under a guaranty of payment or collection described in clause
(c) of the definition of Indebtedness shall be due and payable at the time such payment is due and payable under the terms of such guaranty (taking into account any applicable grace period) and such payment shall be deemed not to have been
accelerated or required to be prepaid prior to its stated maturity as a result of the obligation guaranteed having become due; 

(g)    an involuntary proceeding shall be commenced or an involuntary petition shall be filed seeking
(i) liquidation, reorganization or other relief in respect of the Borrower or any Material Subsidiary (other than Project Finance Subsidiaries) or its debts, or of a substantial part of its assets, under any Federal, state or foreign
bankruptcy, insolvency, receivership or similar law now or hereafter in effect or (ii) the appointment of a receiver, trustee, custodian, sequestrator, conservator or similar official for the Borrower or any Material Subsidiary (other than
Project Finance Subsidiaries) or for a substantial part of its assets, and, in any such case, such proceeding or petition shall continue undismissed for 60 days or an order or decree approving or ordering any of the foregoing shall be entered;

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

(i)    the Borrower or any Material Subsidiary (other than Project Finance Subsidiaries) shall become unable, admit in
writing its inability or fail generally to pay its debts as they become due; 
 (j)    one or more judgments for the
payment of money in an aggregate uninsured amount equal to or greater than $100,000,000 shall be rendered against the Borrower or any Material Subsidiary (other than Project Finance Subsidiaries) or any combination thereof and the same shall remain
undischarged for a period of 30 consecutive days during which execution shall not be effectively stayed, or any action shall be legally taken by a judgment creditor to attach or levy upon any assets of the Borrower or any such Material
Subsidiary to enforce any such judgment; 
 (k)    an ERISA Event shall have occurred that, when taken together with all
other ERISA Events that have occurred, could reasonably be expected to result in liability of the Borrower and its Subsidiaries in an aggregate amount exceeding $100,000,000 for all periods; 

  
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 (l)    EPD takes, suffers or permits to exist any of the events or
conditions referred to in clauses (g), (h), (i) or (j) of this Article or if the section of the EPD Guaranty Agreement that contains the payment obligation shall for any reason cease to be valid and binding on EPD or if EPD shall so state in
writing; 
 (m)    the Manager or Enterprise GP takes, suffers or permits to exist any of the events or conditions
referred to in clauses (g), (h) or (i) of this Article; 
 (n)    a Change in Control shall occur; or 

(o)    an “Event of Default” (as defined in the Multi-Year Credit Facility) shall occur and be continuing; 

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

The Administrative Agent 

SECTION 8.01 The Administrative Agent. 

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

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

  
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 The Administrative Agent shall not have any duties or obligations except those expressly set
forth herein. Without limiting the generality of the foregoing, (a) the Administrative Agent shall not be subject to any fiduciary or other implied duties, regardless of whether a Default has occurred and is continuing, (b) the
Administrative Agent shall not have any duty to take any discretionary action or exercise any discretionary powers, except discretionary rights and powers expressly contemplated hereby that the Administrative Agent is required to exercise in writing
by the Required Lenders (or such other number or percentage of the Lenders as shall be necessary under the circumstances as provided in Section 9.02), (c) except as expressly set forth herein, the Administrative Agent shall not have any duty to
disclose, and shall not be liable for the failure to disclose, any information relating to the Borrower or any of its Subsidiaries that is communicated to or obtained by the bank serving as Administrative Agent or any of its Affiliates in any
capacity and (d) the Administrative Agent will not be required to take any action that, in its opinion or the opinion of its counsel, may expose the Administrative Agent to liability or that is contrary to any loan document or applicable law,
including for the avoidance of doubt, any action that may be in violation of the automatic stay under any Federal, state or foreign bankruptcy, insolvency, receivership or similar law or that may effect a forfeiture, modification or termination of
property of a Defaulting Lender in violation of any such law. The Administrative Agent shall not be liable to the Lenders for any action taken or not taken by it with the consent or at the request of the Required Lenders (or such other number or
percentage of the Lenders as shall be necessary under the circumstances as provided in Section 9.02) or in the absence of its own gross negligence or willful misconduct. The Administrative Agent shall be deemed not to have knowledge of any
Default unless and until written notice thereof is given to the Administrative Agent by the Borrower or a Lender, and the Administrative Agent shall not be responsible for or have any duty to ascertain or inquire into (i) any statement,
warranty or representation made in or in connection with this Agreement, (ii) the contents of any certificate, report or other document delivered hereunder or in connection herewith, (iii) the performance or observance of any of the
covenants, agreements or other terms or conditions set forth herein, (iv) the validity, enforceability, effectiveness or genuineness of this Agreement or any other agreement, instrument or document, or (v) the satisfaction of any condition
set forth in Article IV or elsewhere herein, other than to confirm receipt of items expressly required to be delivered to the Administrative Agent. 

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

The Administrative Agent may perform any and all its duties and exercise its rights and powers by or through any one or more sub-agents appointed by the Administrative Agent. The Administrative Agent and any such sub-agent may perform any and all its duties and exercise its rights and powers through
their respective Related Parties. The exculpatory provisions of the preceding paragraphs shall apply to any such sub-agent and to the Related Parties of the Administrative Agent and any such sub-agent, and shall apply to their respective activities in connection with the syndication of the credit facilities provided for herein as well as activities as Administrative Agent. Anything herein to the
contrary notwithstanding, neither the 

  
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Administrative Agent, the Co-Syndication Agents, the Co-Documentation Agents, the Joint Lead Arrangers nor the
Joint Bookrunners listed on the cover page hereof shall have any powers, duties or responsibilities under this Agreement, the Notes or any documents related hereto or thereto, except in its capacity, as applicable, as Administrative Agent or a
Lender hereunder. 
 Subject to the appointment and acceptance of a successor Administrative Agent as provided in this paragraph, the
Administrative Agent may resign at any time by notifying the Lenders and the Borrower. Upon any such resignation, the Required Lenders shall have the right, with the Borrower’s approval (which will not be unreasonably withheld), to appoint
another Lender as successor. If no successor shall have been so appointed by the Required Lenders and shall have accepted such appointment within 30 days after the retiring Administrative Agent gives notice of its resignation, then the retiring
Administrative Agent may, with the Borrower’s approval (which will not be unreasonably withheld or delayed, and the Borrower’s approval shall not be required if an Event of Default has occurred which is continuing), on behalf of the
Lenders, appoint a successor Administrative Agent which shall be a bank with an office in New York, New York, or an Affiliate of any such bank and such bank, or its Affiliate, as applicable, shall have capital and surplus equal to or greater than
$500,000,000. Upon the acceptance of its appointment as Administrative Agent hereunder by a successor, such successor shall succeed to and become vested with all the rights, powers, privileges and duties of the retiring Administrative Agent, and the
retiring Administrative Agent shall be discharged from its duties and obligations hereunder. The fees payable by the Borrower to a successor Administrative Agent shall be the same as those payable to its predecessor unless otherwise agreed between
the Borrower and such successor. After the Administrative Agent’s resignation hereunder, the provisions of this Article and Section 9.03 shall continue in effect for the benefit of such retiring Administrative Agent, its sub-agents and their respective Related Parties in respect of any actions taken or omitted to be taken by any of them while it was acting as Administrative Agent. 

Each Lender acknowledges that it has, independently and without reliance upon the Administrative Agent or any other Lender and based on such
documents and information as it has deemed appropriate, made its own credit analysis and decision to enter into this Agreement. Each Lender also acknowledges that it will, independently and without reliance upon the Administrative Agent or any other
Lender and based on such documents and information as it shall from time to time deem appropriate, continue to make its own decisions in taking or not taking action under or based upon this Agreement, any related agreement or any document furnished
hereunder or thereunder. 
 SECTION 8.02 Erroneous Payments. 

(a)    If the Administrative Agent (x) notifies a Lender or any Person who has received funds on behalf of a Lender
(any such Lender or other recipient (and each of their respective successors and assigns), a “Payment Recipient”) that the Administrative Agent has determined in its sole discretion (whether or not after receipt of any notice under
immediately succeeding clause (b)) that any funds (as set forth in such notice from the Administrative Agent) received by such Payment Recipient from the Administrative Agent or any of its Affiliates were erroneously or mistakenly transmitted to, or
otherwise erroneously or mistakenly received by, such Payment Recipient (whether or not known to such Lender or other Payment Recipient on its behalf) (any such funds, whether transmitted or received as a payment, prepayment or repayment of
principal, interest, fees, distribution or otherwise, individually and collectively, an “Erroneous  

  
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Payment”) and (y) demands in writing the return of such Erroneous Payment (or a portion thereof), such Erroneous Payment shall at all times remain the property of the
Administrative Agent pending its return or repayment as contemplated below in this Section 8.02 and held in trust for the benefit of the Administrative Agent, and such Lender shall (or, with respect to any Payment Recipient
who received such funds on its behalf, shall cause such Payment Recipient to) promptly, but in no event later than two Business Days thereafter (or such later date as the Administrative Agent may, in its sole discretion, specify in writing), return
to the Administrative Agent the amount of any such Erroneous Payment (or portion thereof) as to which such a demand was made, in same day funds (in the currency so received), together with interest thereon (except to the extent waived in writing by
the Administrative Agent) in respect of each day from and including the date such Erroneous Payment (or portion thereof) was received by such Payment Recipient to the date such amount is repaid to the Administrative Agent in same day funds at the
greater of the Federal Funds Effective Rate and a rate determined by the Administrative Agent in accordance with banking industry rules on interbank compensation from time to time in effect. A notice of the Administrative Agent to any Payment
Recipient under this clause (a) shall be conclusive, absent manifest error. 
 (b)    Without limiting immediately
preceding clause (a), each Lender or any Person who has received funds on behalf of a Lender (and each of their respective successors and assigns), agrees that if it receives a payment, prepayment or repayment (whether received as a payment,
prepayment or repayment of principal, interest, fees, distribution or otherwise) from the Administrative Agent (or any of its Affiliates) (x) that is in a different amount than, or on a different date from, that specified in this Agreement or
in a notice of payment, prepayment or repayment sent by the Administrative Agent (or any of its Affiliates) with respect to such payment, prepayment or repayment, (y) that was not preceded or accompanied by a notice of payment, prepayment or
repayment sent by the Administrative Agent (or any of its Affiliates), or (z) that such Lender or other such recipient, otherwise becomes aware was transmitted, or received, in error or by mistake (in whole or in part), then in each such case:

 (i)    it acknowledges and agrees that (A) in the case of immediately preceding clauses
(x) or (y), an error and mistake shall be presumed to have been made (absent written confirmation from the Administrative Agent to the contrary) or (B) an error and mistake has been made (in the case of immediately preceding clause (z)),
in each case, with respect to such payment, prepayment or repayment; and 
 (ii)    such Lender shall
(and shall cause any other recipient that receives funds on its respective behalf to) promptly (and, in all events, within one Business Day of its knowledge of the occurrence of any of the circumstances described in immediately preceding clauses
(x), (y) and (z)) notify the Administrative Agent of its receipt of such payment, prepayment or repayment, the details thereof (in reasonable detail) and that it is so notifying the Administrative Agent pursuant to this
Section 8.02(b). 
 For the avoidance of doubt, the failure to deliver a notice to the Administrative Agent pursuant to this
Section 8.02(b) shall not have any effect on a Payment Recipient’s obligations pursuant to Section 8.02(a) or on whether or not an Erroneous Payment has been made. 

(c)    Each Lender hereby authorizes the Administrative Agent to set off, net and apply any and all amounts at any time
owing to such Lender under any loan document, or otherwise payable or distributable by the Administrative Agent to such Lender under any loan document with respect to any payment of principal, interest, fees or other amounts, against any amount that
the Administrative Agent has demanded to be returned under immediately preceding clause (a). 
  

  
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 (d)    (i) In the event that an Erroneous Payment (or portion thereof)
is not recovered by the Administrative Agent for any reason, after demand therefor in accordance with immediately preceding clause (a), from any Lender that has received such Erroneous Payment (or portion thereof) (and/or from any Payment Recipient
who received such Erroneous Payment (or portion thereof) on its respective behalf) (such unrecovered amount, an “Erroneous Payment Return Deficiency”), upon the Administrative Agent’s notice to such Lender at any time, then
effective immediately (with the consideration therefor being acknowledged by the Payment Recipient), (A) such Lender shall be deemed to have assigned its Loans (but not its Commitments) with respect to which such Erroneous Payment was made (the
“Erroneous Payment Impacted Class”) in an amount equal to the Erroneous Payment Return Deficiency (or such lesser amount as the Administrative Agent may specify) (such assignment of the Loans (but not Commitments) of the Erroneous
Payment Impacted Class, the “Erroneous Payment Deficiency Assignment”) (on a cashless basis and such amount calculated at par plus any accrued and unpaid interest (with the assignment fee to be waived by the Administrative Agent in
such instance)), and is hereby (together with the Borrower) deemed to execute and deliver an Assignment and Assumption (or, to the extent applicable, an agreement incorporating an Assignment and Assumption by reference pursuant to a Platform as to
which the Administrative Agent and such parties are participants) with respect to such Erroneous Payment Deficiency Assignment, and such Lender shall deliver any Notes evidencing such Loans to the Borrower or the Administrative Agent (but the
failure of such Person to deliver any such Notes shall not affect the effectiveness of the foregoing assignment), (B) the Administrative Agent as the assignee Lender shall be deemed to have acquired the Erroneous Payment Deficiency Assignment,
(C) upon such deemed acquisition, the Administrative Agent as the assignee Lender shall become a Lender, as applicable, hereunder with respect to such Erroneous Payment Deficiency Assignment and the assigning Lender shall cease to be a Lender,
as applicable, hereunder with respect to such Erroneous Payment Deficiency Assignment, excluding, for the avoidance of doubt, its obligations under the indemnification provisions of this Agreement and its applicable Commitments which shall survive
as to such assigning Lender, (D) the Administrative Agent and the Borrower shall each be deemed to have waived any consents required under this Agreement to any such Erroneous Payment Deficiency Assignment, and (E) the Administrative Agent
will reflect in the Register its ownership interest in the Loans subject to the Erroneous Payment Deficiency Assignment. For the avoidance of doubt, no Erroneous Payment Deficiency Assignment will reduce the Commitments of any Lender and such
Commitments shall remain available in accordance with the terms of this Agreement. 
 (ii)    Subject to
Section 9.04, the Administrative Agent may, in its discretion, sell any Loans acquired pursuant to an Erroneous Payment Deficiency Assignment and upon receipt of the proceeds of such sale, the Erroneous Payment Return
Deficiency owing by the applicable Lender shall be reduced by the net proceeds of the sale of such Loan (or portion thereof), and the Administrative Agent shall retain all other rights, remedies and claims against such Lender (and/or against any
recipient that receives funds on its respective behalf). In addition, an Erroneous Payment Return Deficiency owing by 

  
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the applicable Lender (x) shall be reduced by the proceeds of prepayments or repayments of principal and interest, or other distribution in respect of principal and interest, received by the
Administrative Agent on or with respect to any such Loans acquired from such Lender pursuant to an Erroneous Payment Deficiency Assignment (to the extent that any such Loans are then owned by the Administrative Agent) and (y) may, in the sole
discretion of the Administrative Agent, be reduced by any amount specified by the Administrative Agent in writing to the applicable Lender from time to time. 

(e)    The parties hereto agree that (x) irrespective of whether the Administrative Agent may be equitably
subrogated, in the event that an Erroneous Payment (or portion thereof) is not recovered from any Payment Recipient that has received such Erroneous Payment (or portion thereof) for any reason, the Administrative Agent shall be subrogated to all the
rights and interests of such Payment Recipient (and, in the case of any Payment Recipient who has received funds on behalf of a Lender, to the rights and interests of such Lender) under the Loan Documents with respect to such amount (the
“Erroneous Payment Subrogation Rights”) (provided that the Borrower’s and EPD’s obligations under the loan documents in respect of the Erroneous Payment Subrogation Rights shall not be duplicative of such obligations in
respect of Loans that have been assigned to the Administrative Agent under an Erroneous Payment Deficiency Assignment) and (y) an Erroneous Payment shall not pay, prepay, repay, discharge or otherwise satisfy any obligations owed by the
Borrower or EPD; provided that this Section 8.02 shall not be interpreted to increase (or accelerate the due date for), or have the effect of increasing (or accelerating the due date for), the obligations of the Borrower
relative to the amount (and/or timing for payment) of the obligations that would have been payable had such Erroneous Payment not been made by the Administrative Agent; provided, further, that for the avoidance of doubt, the immediately preceding
clauses (x) and (y) shall not apply to the extent any such Erroneous Payment is, and solely with respect to the amount of such Erroneous Payment that is, comprised of funds received by the Administrative Agent from the Borrower for the purpose
of making such Erroneous Payment. 
 (f)    To the extent permitted by applicable law, no Payment Recipient shall assert
any right or claim to an Erroneous Payment, and hereby waives, and is deemed to waive, any claim, counterclaim, defense or right of set-off or recoupment with respect to any demand, claim or counterclaim by
the Administrative Agent for the return of any Erroneous Payment received, including, without limitation, any defense based on “discharge for value” or any similar doctrine. 

(g)    Each party’s obligations, agreements and waivers under this Section 8.02 shall
survive the resignation or replacement of the Administrative Agent, any transfer of rights or obligations by, or the replacement of, a Lender, the termination of the Commitments and/or the repayment, satisfaction or discharge of all obligations (or
any portion thereof) under any loan document. 
 ARTICLE IX 

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

  
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 (a)    if to the Borrower, to it at 1100 Louisiana Street, 10th Floor, Houston, Texas 77002, Attention of Treasurer (Telecopy No. 713/381-8200); 

(b)    if to the Administrative Agent, to Citibank, N.A. Delaware, 1615 Brett Road, OPS III, New Castle, DE 19720; Attn:
Agency Operations, Phone: (302) 894-6010, Fax: (646) 274-5080, Borrower inquiries: AgencyABTFSupport@citi.com, Borrower notices and notifications:
GlAgentOfficeOps@Citi.com, Disclosure Team Mail (Financial Reporting): GlAgentOfficeOps@Citi.com and oploanswebadmin@citi.com; with a copy to 811 Main St., Houston TX 77002, Attention: Enterprise Products Account Officer;
Telecopy: (713) 481-0247; 
 (c)    reserved; 

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

  
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or otherwise) arising out of the Borrower’s or the Administrative Agent’s transmission of Communications through the internet, except to the extent the liability of any Agent
Party is found in a final non-appealable judgment by a court of competent jurisdiction to have resulted primarily from such Agent Party’s gross negligence or willful misconduct. The Administrative
Agent agrees that the receipt of the Communications by the Administrative Agent at its e-mail address as specified by the Administrative Agent from time to time shall constitute effective delivery of the
Communications to the Administrative Agent for purposes of this Agreement and any other documents executed in connection herewith. Each of the Lenders agrees that notice to it (as provided in the next sentence) specifying that the Communications
have been posted to the Platform shall constitute effective delivery of the Communications to such Lender for purposes of this Agreement and any other documents executed in connection herewith. Each of the Lenders agrees (i) to notify the
Administrative Agent in writing (including by electronic communication) from time to time of such Lender’s e-mail address to which the foregoing notice may be sent by electronic transmission, and
(ii) that the foregoing notice may be sent to such e-mail address. Nothing herein shall prejudice the right of the Administrative Agent or any Lender to give any notice or other communication pursuant
hereto or any other document executed in connection herewith in any other manner specified herein or therein. 
 Any party hereto may change its address or
telecopy number for notices and other communications hereunder by notice to the other parties hereto. All notices and other communications given to any party hereto in accordance with the provisions of this Agreement shall be deemed to have been
given on the date of receipt. 
 SECTION 9.02. Waivers; Amendments. 

(a)    No failure or delay by the Administrative Agent or any Lender in exercising any right or power hereunder shall
operate as a waiver thereof, nor shall any single or partial exercise of any such right or power, or any abandonment or discontinuance of steps to enforce such a right or power, preclude any other or further exercise thereof or the exercise of any
other right or power. The rights and remedies of the Administrative Agent and the Lenders hereunder are cumulative and are not exclusive of any rights or remedies that they would otherwise have. No waiver of any provision of this Agreement or
consent to any departure by the Borrower therefrom shall in any event be effective unless the same shall be permitted by paragraph (b) of this Section, and then such waiver or consent shall be effective only in the specific instance and for the
purpose for which given. Without limiting the generality of the foregoing, the making of a Loan shall not be construed as a waiver of any Default, regardless of whether the Administrative Agent or any Lender may have had notice or knowledge of such
Default at the time. 
 (b)    Neither this Agreement nor any provision hereof may be waived, amended or modified except
pursuant to an agreement or agreements in writing entered into by the Borrower and the Required Lenders or by the Borrower and the Administrative Agent with the consent of the Required Lenders; provided that no such agreement shall
(i) increase or extend the Commitment of any Lender without the written consent of such Lender, (ii) reduce the principal amount of any Loan or reduce the rate of interest thereon, or reduce any fees payable hereunder, without the written
consent of each Lender affected thereby, (iii) postpone the scheduled date of payment of the principal amount of any Loan or any interest thereon, or any fees payable hereunder, or reduce the amount of, waive or excuse any such payment, or
postpone the scheduled date of expiration of any Commitment, without the written consent of each Lender 

  
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affected thereby, (iv) change Section 2.18(b) or (c) in a manner that would alter the pro rata sharing of payments required thereby, without the written
consent of each Lender, (v) release EPD from any of its monetary obligations under the EPD Guaranty Agreement without the written consent of each Lender, or (vi) change any of the provisions of this Section or the definition of
“Required Lenders” or any other provision hereof specifying the number or percentage of Lenders required to waive, amend or modify any rights hereunder or make any determination or grant any consent hereunder, without the written consent
of each Lender; provided further that no such agreement shall amend, modify or otherwise affect the rights or duties of the Administrative Agent hereunder without the prior written consent of the Administrative Agent; provided further
(x) the Administrative Agent and the Borrower shall be permitted to amend any provision hereof (and such amendment shall become effective without any further action or consent of any other party hereto) if the Administrative Agent and the
Borrower shall have jointly identified an obvious error or any error, ambiguity, defect or inconsistency or omission of a technical or immaterial nature in any such provision and (y) the Administrative Agent (and, if applicable, the Borrower)
may, without the consent of any Lender, enter into amendments or modifications to this Agreement or any of the other loan documents or enter into additional loan documents as the Administrative Agent reasonably deems appropriate in order to
implement any Benchmark Replacement or any Benchmark Replacement Conforming Changes or otherwise effectuate the terms of Section 2.14(c) (subject to any requirement of Administrative Agent to consult with Borrower that is
expressly provided therein) in accordance with the terms thereof. Anything herein to the contrary notwithstanding, during such period as a Lender is a Defaulting Lender, to the fullest extent permitted by applicable law, such Lender will not be
entitled to vote in respect of amendments and waivers hereunder and the Commitment and the outstanding Loans or other extensions of credit of such Lender hereunder will not be taken into account in determining whether the Required Lenders or all of
the Lenders, as required, have approved any such amendment or waiver (and the definition of “Required Lenders” will automatically be deemed modified accordingly for the duration of such period); provided, that any such amendment or
waiver that would increase or extend the term of the Commitment of such Defaulting Lender, extend the date fixed for the payment of principal or interest owing to such Defaulting Lender hereunder, reduce the principal amount of any obligation owing
to such Defaulting Lender, reduce the amount of or the rate or amount of interest on any amount owing to such Defaulting Lender or of any fee payable to such Defaulting Lender hereunder, or alter the terms of this proviso, will require the consent
of such Defaulting Lender. 
 SECTION 9.03. Expenses; Indemnity; Damage Waiver. (a) The Borrower shall pay (i) all
reasonable out-of-pocket expenses incurred by the Administrative Agent and its Affiliates, including the reasonable fees, charges and disbursements of one law firm as
counsel for the Administrative Agent, in connection with the syndication (prior to the Effective Date) of the credit facilities provided for herein, the preparation and administration of this Agreement or any amendments, modifications or waivers of
the provisions hereof (whether or not the transactions contemplated hereby or thereby shall be consummated), and (ii) all out-of-pocket expenses reasonably incurred
during the existence of an Event of Default by the Administrative Agent or any Lender, including the fees, charges and disbursements of any counsel for the Administrative Agent or any Lender, in connection with the enforcement or protection of its
rights in connection with this Agreement, including its rights under this Section, or in connection with the Loans made hereunder, including all such out-of-pocket
expenses incurred during any workout, restructuring or negotiations in respect of such Loans. 

  
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 (b)    The Borrower shall indemnify the Administrative Agent and each
Lender, and each Related Party of any of the foregoing Persons (each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless from, any and all losses, claims, damages, liabilities and related expenses,
including the fees, charges and disbursements of any counsel for any Indemnitee, incurred by or asserted against any Indemnitee arising out of, in connection with, or as a result of (i) the execution or delivery of this Agreement or any
agreement or instrument contemplated hereby, the performance by the parties hereto of their respective obligations hereunder or the consummation of the Transactions or any other transactions contemplated hereby, (ii) any Loan or the use of the
proceeds therefrom, (iii) any actual or alleged presence or release of Hazardous Materials on or from any property owned or operated by the Borrower or any of its Subsidiaries, or any Environmental Liability related in any way to the Borrower
or any of its Subsidiaries, or (iv) any actual or prospective claim, litigation, investigation or proceeding relating to any of the foregoing, whether based on contract, tort or any other theory and regardless of whether any Indemnitee is a
party thereto; provided that such indemnity shall not, as to any Indemnitee, be available (x) to the extent that such losses, claims, damages, liabilities or related expenses resulted from the gross negligence or willful
misconduct of such Indemnitee or any Related Party of such Indemnitee, or (y) in connection with disputes among or between the Administrative Agent, Lenders and/or their respective Related Parties. 

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

 (d)    To the extent permitted by applicable law, the Borrower shall not assert, and hereby waives, any claim against
any Indemnitee, on any theory of liability, for indirect, special, consequential or punitive damages (as opposed to direct or actual damages) arising out of, in connection with, or as a result of, this Agreement or any agreement or instrument
contemplated hereby, the Transactions, any Loan or the use of the proceeds thereof. 
 (e)    All amounts due under this
Section shall be payable not later than 30 days after written demand therefor, such demand to be in reasonable detail setting forth the basis for and method of calculation of such amounts. 

SECTION 9.04. Successors and Assigns. (a) The provisions of this Agreement shall be binding upon and inure to the benefit of the
parties hereto and their respective successors and assigns permitted hereby, except that the Borrower may not assign or otherwise transfer any of its rights or obligations hereunder without the prior written consent of each Lender (and any attempted
assignment or transfer by the Borrower without such consent shall be null and void). Nothing in this Agreement, expressed or implied, shall be construed to confer upon any Person (other than the parties hereto, their respective successors and
assigns permitted hereby and, to the extent expressly contemplated hereby, the Related Parties of each of the Administrative Agent and the Lenders) any legal or equitable right, remedy or claim under or by reason of this Agreement. 

  
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 (b)    Any Lender may assign to one or more assignees (other than the
Borrower, EPD, any of their Affiliates or a Defaulting Lender or any of their respective subsidiaries, or any Person who, upon becoming a Lender hereunder, would constitute any of the foregoing Persons described in this parenthetical) all or a
portion of its rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans at the time owing to it); provided that (i) except in the case of an assignment to a Lender or an Affiliate of a
Lender (or a lender or an affiliate of a lender under the Multi-Year Credit Facility), each of the Borrower and the Administrative Agent must give their prior written consent to such assignment (which consent shall not be unreasonably withheld or
delayed), (ii) except in the case of an assignment to a Lender or an Affiliate of a Lender or an assignment of the entire remaining amount of the assigning Lender’s Commitment, the amount of the Commitment of the assigning Lender subject to
each such assignment (determined as of the date the Assignment and Assumption with respect to such assignment is delivered to the Administrative Agent) shall not be less than $5,000,000 unless each of the Borrower and the Administrative Agent
otherwise consent, (iii) each partial assignment shall result in the assignor retaining a Commitment of not less than $10,000,000 and shall be made as an assignment of a proportionate part of all the assigning Lender’s rights and
obligations under this Agreement, (iv) the parties (other than the Borrower) to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee of $3,500 (such
fee waivable at Administrative Agent’s sole discretion) , (v) the assignee, if it shall not be a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire and (vi) no assignment to a foreign bank shall be made
hereunder unless, at the time of such assignment, there is no withholding tax applicable with respect to such foreign bank for which the Borrower would be or become responsible under Section 2.17; and provided
further that any consent of the Borrower otherwise required under this paragraph shall not be required if an Event of Default has occurred and is continuing. Subject to acceptance and recording thereof pursuant to paragraph (d) of this
Section, from and after the effective date specified in each Assignment and Assumption the assignee thereunder shall be a party hereto and, to the extent of the interest assigned by such Assignment and Assumption, have the rights and obligations of
a Lender under this Agreement, and the assigning Lender thereunder shall, to the extent of the interest assigned by such Assignment and Assumption, be released from its obligations under this Agreement (and, in the case of an Assignment and
Assumption covering all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall cease to be a party hereto but shall continue to be entitled to the benefits of Sections 2.15,
2.16, 2.17 and 9.03 as to matters occurring on or prior to date of assignment). Any assignment or transfer by a Lender of rights or obligations under this Agreement that does not comply with this paragraph shall be treated for
purposes of this Agreement as a sale by such Lender of a participation in such rights and obligations in accordance with paragraph (e) of this Section. 

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

  
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 (d)    Upon its receipt of a duly completed Assignment and Assumption
executed by an assigning Lender and an assignee, the assignee’s completed Administrative Questionnaire (unless the assignee shall already be a Lender hereunder), the processing and recordation fee referred to in paragraph (b) of this
Section and any written consent to such assignment required by paragraph (b) of this Section, the Administrative Agent shall accept such Assignment and Assumption and record the information contained therein in the Register. No assignment shall
be effective for purposes of this Agreement unless it has been recorded in the Register as provided in this paragraph. 

(e)    Any Lender may, without the consent of the Borrower or the Administrative Agent, sell participations to one or more
banks or other entities, other than a Defaulting Lender (a “Participant”) in all or a portion of such Lender’s rights and obligations under this Agreement (including all or a portion of its Commitment and the Loans owing
to it); provided that (i) such Lender’s obligations under this Agreement shall remain unchanged, (ii) such Lender shall remain solely responsible to the other parties hereto for the performance of such obligations and
(iii) the Borrower, the Administrative Agent and the other Lenders shall continue to deal solely and directly with such Lender in connection with such Lender’s rights and obligations under this Agreement. Any agreement or instrument
pursuant to which a Lender sells such a participation shall provide that such Lender shall retain the sole right to enforce this Agreement and to approve any amendment, modification or waiver of any provision of this Agreement; provided
that such agreement or instrument may provide that such Lender will not, without the consent of the Participant, agree to any amendment, modification or waiver described in the first proviso to Section 9.02(b) that
affects such Participant. Each Lender that sells a participation shall, acting solely for this purpose as a non-fiduciary agent of the Borrower, maintain a register on which it enters the name and address of
each Participant and the principal amounts (and stated interest) of each Participant’s interest in the Loans or other obligations under the loan documents (the “Participant Register”); provided that no Lender shall have
any obligation to disclose all or any portion of the Participant Register (including the identity of any Participant or any information relating to a Participant’s interest in any commitments, loans, letters of credit or its other obligations
under any loan document) to any Person except to the extent that such disclosure is necessary to establish that such commitment, loan, letter of credit or other obligation is in registered form under
Section 5f.103-1(c) of the United States Treasury Regulations. The entries in the Participant Register shall be conclusive absent manifest error, and such Lender shall treat each Person whose name is
recorded in the Participant Register as the owner of such participation for all purposes of this Agreement notwithstanding any notice to the contrary. For the avoidance of doubt, the Administrative Agent (in its capacity as Administrative Agent)
shall have no responsibility for maintaining a Participant Register. 
 (f)    A Participant shall not be entitled to
receive any greater payment under Section 2.15 or 2.17 than the applicable Lender would have been entitled to receive with respect to the participation sold to such Participant, unless the sale of the participation
to such Participant is made with the Borrower’s prior written consent. A Participant that would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of Section 2.17 unless the Borrower is
notified of the participation sold to such Participant and such Participant agrees, for the benefit of the Borrower, to comply with Section 2.17(e) as though it were a Lender and has zero withholding at the time of
participation. 

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

(h)    In connection with any assignment of rights and obligations of any Defaulting Lender hereunder, no such assignment
will be effective unless and until, in addition to the other conditions thereto set forth herein, the parties to the assignment make such additional payments to the Administrative Agent in an aggregate amount sufficient, upon distribution thereof as
appropriate (which may be outright payment, purchases by the assignee of participations or subparticipations, or other compensating actions, including funding, with the consent of the Borrower and the Administrative Agent, the applicable pro
rata share of Loans previously requested but not funded by the Defaulting Lender, to each of which the applicable assignee and assignor hereby irrevocably consent), to (x) pay and satisfy in full all payment liabilities then owed by such
Defaulting Lender to the Administrative Agent and each other Lender hereunder (and interest accrued thereon), and (y) acquire (and fund as appropriate) its full pro rata share of all Loans in accordance with its Applicable
Percentage. Notwithstanding the foregoing, in the event that any assignment of rights and obligations of any Defaulting Lender hereunder becomes effective under applicable law without compliance with the provisions of this paragraph, then the
assignee of such interest will be deemed to be a Defaulting Lender for all purposes of this Agreement until such compliance occurs. 

SECTION 9.05. Survival. All covenants, agreements, representations and warranties made by the Borrower herein and in the certificates
or other instruments delivered in connection with or pursuant to this Agreement shall be considered to have been relied upon by the other parties hereto and shall survive the execution and delivery of this Agreement and the making of any Loans,
regardless of any investigation made by any such other party or on its behalf and notwithstanding that the Administrative Agent or any Lender may have had notice or knowledge of any Default or incorrect representation or warranty at the time any
credit is extended hereunder, and shall continue in full force and effect as long as the principal of or any accrued interest on any Loan or any fee or any other amount payable under this Agreement is outstanding and unpaid and so long as the
Commitments have not expired or terminated. The provisions of Sections 2.15, 2.16, 2.17 and 9.03 and Article VIII shall survive and remain in full force and effect regardless of the consummation of the transactions
contemplated hereby, the repayment of the Loans, the expiration or termination of the Commitments or the termination of this Agreement or any provision hereof. 

SECTION 9.06. Counterparts; Integration; Effectiveness; Electronic Execution. 

(a)    Counterparts; Integration; Effectiveness. This Agreement may be executed in counterparts (and by different
parties hereto on different counterparts), each of which shall constitute an original, but all of which when taken together shall constitute a single contract. This Agreement and any separate letter agreements with respect to fees payable to the

  
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Administrative Agent constitute the entire contract among the parties relating to the subject matter hereof and supersede any and all previous agreements and understandings, oral or written,
relating to the subject matter hereof. This Agreement shall become effective on the Effective Date, and thereafter shall be binding upon and inure to the benefit of the parties hereto and their respective successors and assigns. Delivery of an
executed counterpart of a signature page of this Agreement by telecopy shall be effective as delivery of a manually executed counterpart of this Agreement. 

(b)    Electronic Execution. The words “execute,” “execution,” “signed,”
“signature,” “delivery” and words of like import in or related to this Agreement, any other loan document or any document, amendment, approval, consent, waiver, modification, information, notice, certificate, report, statement,
disclosure, or authorization to be signed or delivered in connection with this Agreement or any other loan document or the transactions contemplated hereby shall be deemed to include Electronic Signatures or execution in the form of an Electronic
Record, and contract formations on electronic platforms approved by the Administrative Agent, deliveries or the keeping of records in electronic form, each of which shall be of the same legal effect, validity or enforceability as a manually executed
signature or the use of a paper-based recordkeeping system, as the case may be, to the extent and as provided for in any applicable law, including the Federal Electronic Signatures in Global and National Commerce Act, the New York State Electronic
Signatures and Records Act, or any other similar state laws based on the Uniform Electronic Transactions Act. Each party hereto agrees that any Electronic Signature or execution in the form of an Electronic Record shall be valid and binding on
itself and each of the other parties hereto to the same extent as a manual, original signature. For the avoidance of doubt, the authorization under this paragraph may include, without limitation, use or acceptance by the parties of a manually
signed paper which has been converted into electronic form (such as scanned into PDF format), or an electronically signed paper converted into another format, for transmission, delivery and/or retention. Notwithstanding anything contained
herein to the contrary, the Administrative Agent is under no obligation to accept an Electronic Signature in any form or in any format unless expressly agreed to by the Administrative Agent pursuant to procedures approved by it; provided
that without limiting the foregoing, (i) to the extent the Administrative Agent has agreed to accept such Electronic Signature from any party hereto, the Administrative Agent and the other parties hereto shall be entitled to rely on any
such Electronic Signature purportedly given by or on behalf of the executing party without further verification and (ii) upon the request of the Administrative Agent or any Lender, any Electronic Signature shall be promptly followed by an
original manually executed counterpart thereof. Without limiting the generality of the foregoing, each party hereto hereby (A) agrees that, for all purposes, including without limitation, in connection with any workout, restructuring,
enforcement of remedies, bankruptcy proceedings or litigation among the Administrative Agent, the Lenders, the Borrower and EPD, electronic images of this Agreement or any other loan document (in each case, including with respect to any signature
pages thereto) shall have the same legal effect, validity and enforceability as any paper original, and (B) waives any argument, defense or right to contest the validity or enforceability of the loan documents based solely on the lack of
paper original copies of any loan documents, including with respect to any signature pages thereto. 

  
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 SECTION 9.07. Severability. Any provision of this Agreement held to be invalid,
illegal or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such invalidity, illegality or unenforceability without affecting the validity, legality and enforceability of the remaining provisions
hereof; and the invalidity of a particular provision in a particular jurisdiction shall not invalidate such provision in any other jurisdiction. Without limiting the foregoing provisions of this Section, if and to the extent that the enforceability
of any provisions in this Agreement relating to Defaulting Lenders shall be limited by bankruptcy, insolvency, receivership or similar law, as determined in good faith by the Administrative Agent, then such provisions shall be deemed to be in effect
only to the extent not so limited. 
 SECTION 9.08. Right of Setoff. If an Event of Default shall have occurred and be continuing and
acceleration of the Loans shall have occurred under Article VII, each Lender and each of its Affiliates is hereby authorized at any time and from time to time, to the fullest extent permitted by law, to set off and apply
any and all deposits (general or special, time or demand, provisional or final) at any time held and other obligations at any time owing by such Lender or Affiliate to or for the credit or the account of the Borrower against any of and all the
obligations of the Borrower now or hereafter existing under this Agreement held by such Lender, irrespective of whether or not such Lender shall have made any demand under this Agreement and although such obligations may be unmatured;
provided, that in the event that any Defaulting Lender exercises any such right of setoff, (x) all amounts so set off will be paid over immediately to the Administrative Agent for further application in accordance with the provisions of
Section 2.18 and, pending such payment, will be segregated by such Defaulting Lender from its other funds and deemed held in trust for the benefit of the Administrative Agent and the Lenders and (y) the Defaulting
Lender will provide promptly to the Administrative Agent a statement describing in reasonable detail the obligations under this Agreement owing to such Defaulting Lender as to which it exercised such right of setoff. The rights of each Lender under
this Section are in addition to other rights and remedies (including other rights of setoff) which such Lender may have. 
 SECTION 9.09.
Governing Law; Jurisdiction; Consent to Service of Process. (a) This Agreement shall be construed in accordance with and governed by the law of the State of New York. 

(b)    The Borrower hereby irrevocably and unconditionally submits, for itself and its property, to the nonexclusive
jurisdiction of the Supreme Court of the State of New York sitting in New York County and of the United States District Court of the Southern District of New York, and any appellate court from any thereof, in any action or proceeding arising out of
or relating to this Agreement, or for recognition or enforcement of any judgment, and each of the parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such action or proceeding may be heard and determined in
such New York State or, to the extent permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment in any such action or proceeding shall be conclusive and may be enforced in other jurisdictions by suit on
the judgment or in any other manner provided by law. Nothing in this Agreement shall affect any right that the Administrative Agent or any Lender may otherwise have to bring any action or proceeding relating to this Agreement against the Borrower or
its properties in the courts of any jurisdiction. 
 (c)    The Borrower hereby irrevocably and unconditionally waives,
to the fullest extent it may legally and effectively do so, any objection which it may now or hereafter have to the laying of venue of any suit, action or proceeding arising out of or relating to this Agreement in any court referred to in
paragraph (b) of this Section. Each of the parties hereto hereby irrevocably waives, to the fullest extent permitted by law, the defense of an inconvenient forum to the maintenance of such action or proceeding in any such court. 

  
 74 

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

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

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

SECTION 9.12. Confidentiality. Each of the Administrative Agent, the Co-Syndication Agents, the
Co-Documentation Agents, and the Lenders agrees to maintain the confidentiality of the Information (as defined below), except that Information may be disclosed (a) to its and its Affiliates’
directors, officers, managers, administrators, trustees, employees and agents, including accountants, legal counsel and other advisors (it being understood that the Persons to whom such disclosure is made will be informed of the confidential nature
of such Information and instructed to keep such Information confidential), (b) to the extent requested by any regulatory authority, (c) to the extent required by applicable laws or regulations or by any subpoena or similar legal process,
(d) to any other party to this Agreement, (e) in connection with the exercise of any remedies hereunder or any suit, action or proceeding relating to this Agreement or the enforcement of rights hereunder, (f) subject to an agreement
containing provisions substantially the same as those of this Section, to (i) any assignee of or Participant in, or any prospective assignee of or Participant in, any of its rights or obligations under this Agreement (including any pledgee or
assignee permitted under Section 9.04(g)), (ii) any actual or prospective party (or its managers, administrators, trustees, partners, directors, officers, employees, agents, advisors and other representatives) to any swap,
derivative or other transaction under which payments are to be made by reference to the Borrower and its obligations, this Agreement or payments hereunder, (iii) any rating agency, or (iv) the CUSIP Service Bureau or any similar
organization, (g) with the consent of the Borrower or (h) to the extent such Information (i) becomes publicly available other than as a result of a breach of this Section or (ii) becomes available to the Administrative Agent, the
Co-Syndication Agents, the Co-Documentation Agents or any Lender on a nonconfidential basis from a source other than the Borrower and its Related Parties. For the
purposes of this Section, “Information” means all information received from the Borrower relating to the Borrower or its business, other than any such information that is available to the Administrative Agent or any Lender on a
nonconfidential basis prior to disclosure by the Borrower. 

  
 75 

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

SECTION 9.14. Liability of Manager. It is hereby understood and agreed that Manager shall have no personal liability, as a member of
the Borrower or otherwise, for the payment of any amount owing or to be owing hereunder. 
 SECTION 9.15. USA Patriot Act Notice.
Each Lender and the Administrative Agent (for itself and not on behalf of any Lender) hereby notifies Borrower that pursuant to the requirements of the USA Patriot Act (Title III of
Pub. L. 107-56 (signed into law October 26, 2003)) (the “Act”), it is required to obtain, verify and record information that identifies Borrower, which information includes the
name and address of Borrower and other information that will allow such Lender or the Administrative Agent, as applicable, to identify Borrower in accordance with the Act. The Borrower shall, following a request by the Administrative Agent or any
Lender, provide all documentation and other information that the Administrative Agent or such Lender reasonably requests in order to comply with its ongoing obligations under applicable “know your customer” and anti-money laundering rules
and regulations, including the Act. 
 SECTION 9.16. No Advisory or Fiduciary Responsibility. In connection with all aspects of each
transaction contemplated hereby (including in connection with any amendment, waiver or other modification hereof or of any other loan document executed or delivered in connection herewith), Borrower acknowledges and agrees, and acknowledges its
Affiliates’ understanding, that: (i) (A) the arranging and other services regarding this Agreement provided by Administrative Agent, Arrangers and Lenders are arm’s-length commercial
transactions between Borrower and its Affiliates, on the one hand, and Administrative Agent, Arrangers and Lenders, on the other hand, (B) Borrower has consulted its own legal, accounting, regulatory and tax advisors to the extent it has deemed
appropriate, and (C) Borrower is capable of evaluating, and understands and accepts, the terms, risks and conditions of the transactions contemplated hereby and by the other loan documents executed or delivered in connection herewith;
(ii) (A) Administrative Agent, each Lender and each Arranger is and has been acting solely as a principal and, except as expressly agreed in writing by the relevant parties, has not been, is not, and will not be acting as an advisor, agent or
fiduciary for Borrower or any of its Affiliates, or any other Person and (B) none of the Administrative Agent, nor any Arranger or any Lender has any obligation to Borrower or any of its Affiliates with respect to the transactions contemplated

  
 76 

 
hereby except those obligations expressly set forth herein and in the other loan documents executed or delivered in connection herewith; and (iii) Administrative Agent, Arrangers and Lenders
and their respective Affiliates may be engaged in a broad range of transactions that involve interests that differ from those of Borrower and its Affiliates, and none of the Administrative Agent, any Arranger or any Lender has any obligation to
disclose any of such interests to Borrower or its Affiliates. To the fullest extent permitted by law, Borrower hereby waives and releases any claims that it may have against Administrative Agent, any Arranger or any Lender with respect to any breach
or alleged breach of agency or fiduciary duty in connection with any aspect of any transaction contemplated hereby. 
 SECTION 9.17.
Acknowledgement and Consent to Bail-In of Affected Financial Institutions. Notwithstanding anything to the contrary in any loan document or in any other agreement, arrangement or understanding among any
such parties, each party hereto acknowledges that any liability of any Affected Financial Institution arising under any loan document, to the extent such liability is unsecured, may be subject to the write-down and conversion powers of the
applicable Resolution Authority and agrees and consents to, and acknowledges and agrees to be bound by: 
 (a)    the
application of any Write-Down and Conversion Powers by the applicable Resolution Authority to any such liabilities arising hereunder which may be payable to it by any party hereto that is an Affected Financial Institution; and 

(b)    the effects of any Bail-In Action on any such liability, including, if
applicable: 
 (i)    a reduction in full or in part or cancellation of any such liability; 

(ii)    a conversion of all, or a portion of, such liability into shares or other instruments of ownership
in such Affected Financial Institution, its parent undertaking, or a bridge institution that may be issued to it or otherwise conferred on it, and that such shares or other instruments of ownership will be accepted by it in lieu of any rights with
respect to any such liability under this Agreement or any other loan document; or 
 (iii)    the
variation of the terms of such liability in connection with the exercise of the write-down and conversion powers of the applicable Resolution Authority. 

SECTION 9.18. Existing Credit Facility. The undersigned Lenders, to the extent a party to the Existing Credit Facility, agree and
acknowledge that in connection with the refinancing of the loans under the Existing Credit Facility pursuant hereto, Borrower, Administrative Agent and Lenders shall make adjustments to the outstanding principal amount of “Loans” (as
defined in the Existing Credit Facility) (but not any interest accrued thereon prior to the Effective Date or any accrued facility fees under the Existing Credit Facility prior to the Effective Date), including the borrowing of such additional
“Loans” (which may include “Eurodollar Loans” (as defined in the Existing Credit Facility)) and the repayment of “Loans” (which may include the prepayment or conversion of “Eurodollar Loans”) plus all
applicable accrued interest, fees and expenses as shall be necessary to provide for Loans by each Lender in the amount of its new Applicable Percentage of all Loans as of the Effective Date. In connection with the foregoing, each Lender shall be
deemed to have made an assignment of its outstanding Loans and “Commitments” (as defined in the Existing Credit Facility) under the Existing Credit Facility, and assumed outstanding Loans and Commitments of other Lenders under the Existing
Credit Facility, all at 

  
 77 

 
the request of the Borrower, as may be necessary to effect the foregoing, and each such Lender shall be entitled to any reimbursement under Section 2.16 hereof with
respect thereto. Each of the undersigned Lenders, to the extent a party to the Existing Credit Facility, waives any requirement under the Existing Credit Facility that notice with respect to any such borrowing, prepayment or other transaction
described in this Section 9.18 be given. 
 SECTION 9.19. Certain ERISA Matters. 

(a)    Each Lender (x) represents and warrants, as of the date such Person became a Lender party hereto, to, and
(y) covenants, from the date such Person became a Lender party hereto to the date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent, each Arranger and their respective Affiliates, and not, for the
avoidance of doubt, to or for the benefit of the Borrower or EPD, that at least one of the following is and will be true: 

(i)    such Lender is not using “plan assets” (within the meaning of Section 3(42) of ERISA
or otherwise) of one or more Benefit Plans with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit or the Commitments; 

(ii)    the transaction exemption set forth in one or more PTEs, such as PTE
84-14 (a class exemption for certain transactions determined by independent qualified professional asset managers), PTE 95-60 (a class exemption for certain transactions
involving insurance company general accounts), PTE 90-1 (a class exemption for certain transactions involving insurance company pooled separate accounts), PTE 91-38 (a
class exemption for certain transactions involving bank collective investment funds) or PTE 96-23 (a class exemption for certain transactions determined by in-house
asset managers), is applicable with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement; 

(iii)    (A) such Lender is an investment fund managed by a “Qualified Professional Asset
Manager” (within the meaning of Part VI of PTE 84-14), (B) such Qualified Professional Asset Manager made the investment decision on behalf of such Lender to enter into, participate in, administer and
perform the Loans, the Letters of Credit, the Commitments and this Agreement, (C) the entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement satisfies the
requirements of sub-sections (b) through (g) of Part I of PTE 84-14 and (D) to the best knowledge of such Lender, the requirements of subsection (a) of
Part I of PTE 84-14 are satisfied with respect to such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters of Credit, the Commitments and this Agreement;
or 
 (iv)    such other representation, warranty and covenant as may be agreed in writing between the
Administrative Agent, in its sole discretion, and such Lender. 
 (b)    In addition, unless either (1) sub-clause (i) in the immediately preceding clause (a) is true with respect to a Lender or (2) a Lender has provided another representation, warranty and covenant in accordance with sub-clause (iv) in the immediately preceding clause (a), such 

  
 78 

 
Lender further (x) represents and warrants, as of the date such Person became a Lender party hereto, and (y) covenants, from the date such Person became a Lender party hereto to the
date such Person ceases being a Lender party hereto, for the benefit of, the Administrative Agent, each Arranger and their respective Affiliates, and not, for the avoidance of doubt, to or for the benefit of the Borrower or EPD, that none of the
Administrative Agent, any Arranger and their respective Affiliates is a fiduciary with respect to the assets of such Lender involved in such Lender’s entrance into, participation in, administration of and performance of the Loans, the Letters
of Credit, the Commitments and this Agreement (including in connection with the reservation or exercise of any rights by the Administrative Agent under this Agreement, any loan document or any documents related hereto or thereto). 

[Signature Pages to Follow] 

  
 79 

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

			
	ENTERPRISE PRODUCTS OPERATING LLC
		
	By:	 	Enterprise Products OLPGP, Inc.,
		 	its Manager
		
	By:	 	 /s/ Christian M. Nelly

		 	Christian M. “Chris” Nelly
		 	Executive Vice President—Finance and
		 	Sustainability and Treasurer

  

  
 80 

 
			
	 CITIBANK, N.A.,
 as Administrative
Agent and a Lender

		
	By:	 	 /s/ Maureen Maroney

	 Name: Maureen Maroney

	 Title: Vice President

  
 S-1 

 
			
	 WELLS FARGO BANK, NATIONAL ASSOCIATION,

as Co-Syndication Agent and a Lender

		
	By:	 	 /s/ Brandon Kast

		 	Name: Brandon Kast
		 	Title: Director

  
 S-2 

 
			
	 JPMORGAN CHASE BANK, N.A.,
 as Co-Syndication Agent and a Lender

		
	By:	 	 /s/ Umar Hassan

	 Name: Umar Hassan

	 Title: Authorized Officer

  
 S-3 

 
			
	 MIZUHO BANK, LTD.,
 as Co-Syndication Agent and a Lender

		
	By:	 	 /s/ Edward Sacks

	 Name: Edward Sacks

	 Title: Authorized Signatory

  
 S-4 

 
			
	 MUFG BANK, LTD.,
 as Co-Syndication Agent and a Lender

		
	By:	 	 /s/ Anastasiya Bykov

	 Name: Anastasiya Bykov

	 Title: Authorized Signatory

  
 S-5 

 
			
	 TRUIST BANK,
 as Co-Syndication Agent and a Lender

		
	By:	 	 /s/ Samantha Sanford

	 Name: Samantha Sanford

	 Title: Vice President

  
 S-6 

 
			
	 BARCLAYS BANK PLC,
 as Co-Documentation Agent and a Lender

		
	By:	 	 /s/ Sydney G. Dennis

	 Name: Sydney G. Dennis

	 Title: Director

  
 S-7 

 
			
	 ROYAL BANK OF CANADA,
 as Co-Documentation Agent and a Lender

		
	By:	 	 /s/ Michael Sharp

	 Name: Michael Sharp

	 Title: Authorized Signatory

  
 S-8 

 
			
	 SUMITOMO MITSUI BANKING CORPORATION,

as Co-Documentation Agent and a Lender

		
	By:	 	 /s/ Jeffrey Cobb

	 Name: Jeffrey Cobb

	 Title: Director

  
 S-9 

 
			
	THE BANK OF NOVA SCOTIA,
	HOUSTON BRANCH, as Co-Documentation Agent and a Lender
		
	By:	 	 /s/ Joe Lattanzi

		 	Name: Joe Lattanzi
		 	Title: Managing Director

  
 S-10 

 
			
	THE TORONTO-DOMINION BANK,
	NEW YORK BRANCH, as Co-Documentation Agent and a Lender
		
	By:	 	 /s/ Maria Macchiaroli

		 	Name: Maria Macchiaroli
		 	Title: Authorized Signatory

  
 S-11 

 
			
	BANK OF AMERICA, N.A., as a Lender
		
	By:	 	 /s/ Alia Qaddumi

		 	Name: Alia Qaddumi
		 	Title: Director

  
 S-12 

 
			
	CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK, a Lender
		
	By:	 	 /s/ Michael D. Willis

		 	Name: Michael D. Willis
		 	Title: Managing Director
		
	By:	 	 /s/ Ting Lee

		 	Name: Ting Lee
		 	Title: Director

  
 S-13 

 
			
	PNC BANK, NATIONAL ASSOCIATION, a Lender
		
	By:	 	 /s/Jennifer L. Shafer

		 	Name: Jennifer L. Shafer
		 	Title: Vice President

  
 S-14 

 
			
	SOCIETE GENERALE, a Lender
		
	By:	 	 /s/ Shelley Yu

		 	Name: Shelley Yu
		 	Title: Director

  
 S-15 

 
			
	BANCO BILBAO VIZCAYA ARGENTARIA, S.A. NEW YORK BRANCH, a Lender
		
	By:	 	 /s/ Cara Younger

		 	Name: Cara Younger
		 	Title: Executive Director
		
	By:	 	 /s/ Miriam Trautmann

		 	Name: Miriam Trautmann
		 	Title: Senior Vice President

  
 S-16 

 
			
	BANK OF MONTREAL, a Lender
		
	By:	 	 /s/ David Warkentin

		 	Name: David Warkentin
		 	Title: Managing Director
		
	By:	 	 /s/ Gennaro Costa

		 	Name: Gennaro Costa
		 	Title: Vice President

  
 S-17 

 
			
	CREDIT SUISSE AG, NEW YORK BRANCH, a Lender
		
	By:	 	 /s/ Doreen Barr

		 	Name: Doreen Barr
		 	Title: Authorized Signatory
		
	By:	 	 /s/ Michael Dieffenbacher

		 	Name: Michael Dieffenbacher
		 	Title: Authorized Signatory

  
 S-18 

 
			
	DEUTSCHE BANK AG NEW YORK BRANCH, a Lender
		
	By:	 	 /s/ Douglas Darman

		 	Name: Douglas Darman
		 	Title: Director
		
	By:	 	 /s/ Annie Chung

		 	Name: Annie Chung
		 	Title: Director

  
 S-19 

 
			
	MORGAN STANLEY BANK, N.A., a Lender
		
	By:	 	 /s/ Michael King

		 	Name: Michael King
		 	Title: Authorized Signatory

  
 S-20 

 
			
	U.S. BANK NATIONAL ASSOCIATION, a Lender
		
	By:	 	 /s/ Shawn O’Hara

		 	Name: Shawn O’Hara
		 	Title: Senior Vice President

  

  
 S-21 

 SCHEDULE 2.01 

COMMITMENTS 
  

									
	 Lender
	  	Commitment	 	  	Applicable Percentage	 
	 Wells Fargo Bank, National Association
	  	$	73,750,000	 	  	 	4.916666667	% 
	 Citibank, N.A.
	  	$	73,750,000	 	  	 	4.916666667	% 
	 JPMorgan Chase Bank, N.A.
	  	$	73,750,000	 	  	 	4.916666667	% 
	 Mizuho Bank, Ltd.
	  	$	73,750,000	 	  	 	4.916666667	% 
	 MUFG Bank, Ltd.
	  	$	73,750,000	 	  	 	4.916666667	% 
	 Truist Bank
	  	$	73,750,000	 	  	 	4.916666667	% 
	 Barclays Bank PLC
	  	$	73,750,000	 	  	 	4.916666667	% 
	 Royal Bank of Canada
	  	$	73,750,000	 	  	 	4.916666667	% 
	 Sumitomo Mitsui Banking Corp.
	  	$	73,750,000	 	  	 	4.916666667	% 
	 The Bank of Nova Scotia, Houston Branch
	  	$	73,750,000	 	  	 	4.916666667	% 
	 The Toronto-Dominion Bank, New York Branch
	  	$	73,750,000	 	  	 	4.916666667	% 
	 Bank of America, N.A.
	  	$	73,750,000	 	  	 	4.916666667	% 
	 Credit Agricole Corporate and Investment Bank
	  	$	73,750,000	 	  	 	4.916666667	% 
	 PNC Bank, National Association
	  	$	73,750,000	 	  	 	4.916666667	% 
	 Société Générale
	  	$	73,750,000	 	  	 	4.916666667	% 
	 Banco Bilbao Vizcaya Argentaria, S.A. New York Branch
	  	$	65,625,000	 	  	 	4.375000000	% 
	 Bank of Montreal
	  	$	65,625,000	 	  	 	4.375000000	% 
	 Credit Suisse AG, New York Branch
	  	$	65,625,000	 	  	 	4.375000000	% 
	 Deutsche Bank AG New York Branch
	  	$	65,625,000	 	  	 	4.375000000	% 
	 Morgan Stanley Bank, N.A.
	  	$	65,625,000	 	  	 	4.375000000	% 
	 U.S. Bank National Association
	  	$	65,625,000	 	  	 	4.375000000	% 
	 TOTAL
	  	$	1,500,000,000	 	  	 	100	% 

 SCHEDULE 3.05 

DISCLOSED MATTERS 

None 

 SCHEDULE 6.06 

EXISTING RESTRICTIONS 

None 

 EXHIBIT A 

FORM OF 
 ASSIGNMENT AND ASSUMPTION

 This Assignment and Assumption (the “Assignment and Assumption”) is dated as of the Effective Date set forth below and
is entered into by and between [Insert name of Assignor] (the “Assignor”) and [Insert name of Assignee] (the “Assignee”). Capitalized terms used but not defined herein shall have the meanings given to
them in the Credit Agreement identified below (as amended, the “Credit Agreement”), receipt of a copy of which is hereby acknowledged by the Assignee. The Standard Terms and Conditions set forth in Annex 1 attached hereto are hereby
agreed to and incorporated herein by reference and made a part of this Assignment and Assumption as if set forth herein in full. 
 For an
agreed consideration, the Assignor hereby irrevocably sells and assigns to the Assignee, and the Assignee hereby irrevocably purchases and assumes from the Assignor, subject to and in accordance with the Standard Terms and Conditions and the Credit
Agreement, as of the Effective Date inserted by Administrative Agent as contemplated below (i) all of the Assignor’s rights and obligations as a Lender under the Credit Agreement and any other documents or instruments delivered pursuant
thereto to the extent related to the amount and percentage interest identified below (including, without limitation, any letters of credit included in such facilities) and (ii) to the extent permitted to be assigned under applicable law, all
claims, suits, causes of action and any other right of the Assignor (in its capacity as a Lender) against any Person, whether known or unknown, arising under or in connection with the Credit Agreement, any other documents or instruments delivered
pursuant thereto or the loan transactions governed thereby or in any way based on or related to any of the foregoing, including, but not limited to, contract claims, tort claims, malpractice claims, statutory claims and all other claims at law or in
equity related to the rights and obligations sold and assigned pursuant to clause (i) above (the rights and obligations sold and assigned pursuant to clauses (i) and (ii) above being referred to herein collectively as the “Assigned
Interest”). Such sale and assignment is without recourse to the Assignor and, except as expressly provided in this Assignment and Assumption, without representation or warranty by the Assignor. 

1.
Assignor:                                       
                                    

2.
Assignee:                                       
                                    

                          
    [and is an Affiliate of [identify Lender]] 1 

3. Borrower:          Enterprise Products Operating LLC 

4. Administrative Agent:Citibank, N.A., as the administrative agent under the Credit Agreement 

5. Credit Agreement: 364-Day Revolving Credit Agreement dated as of September 7, 2021 among Borrower, the Lenders
from time to time party thereto, and the Administrative Agent. 
  

	1 	 Select as applicable. 

 6. Assigned Interest: 
  

													
	 Facility Assigned
	  	Aggregate Amount
of
Commitment/Loans
for all Lenders	 	  	Amount of
Commitment/Loans
Assigned2	 	  	Percentage
Assigned of
Commitment/Loans3	 
	 Revolving Credit
	  	$	 	 	  	$	 	 	  	 	%	 

 7. [Trade Date: _______________________________4] 

Effective Date: ___________________, 20___ [TO BE INSERTED BY ADMINISTRATIVE AGENT AND WHICH SHALL BE THE EFFECTIVE DATE OF RECORDATION OF
TRANSFER IN THE REGISTER THEREFOR.] 
 The terms set forth in this Assignment and Assumption are hereby agreed to: 

 

			
	ASSIGNOR
	[NAME OF ASSIGNOR]
		
	By:	 	
                 

		 	Title:
	
	ASSIGNEE
	[NAME OF ASSIGNEE]
		
	By:	 	
                 

		 	Title:

  

			
	[Consented to and]5 Accepted:
	
	CITIBANK, N.A., as
	Administrative Agent
		
	By:	 	              

		 	Title

  

	2 	 Amount to be adjusted by the counterparties to take into account any payments or prepayments made between the
Trade Date and the Effective Date. 

	3 	 Set forth, to at least nine decimals, as a percentage of the Commitment/Loans of all Lenders thereunder.

	4 	 To be completed if the Assignor and the Assignee intend that the minimum assignment amount is to be determined
as of the Trade Date. 

	5 	 To be added only if the consent of Administrative Agent is required by the terms of the Credit Agreement.

  
 Exhibit A – Page 2

			
	[Consented to]6:
	
	ENTERPRISE PRODUCTS OPERATING LLC
		
	By:	 	Enterprise Products OLPGP, Inc.,
		 	its Manager
		
	By:	 	              

		 	Title

  

	6 	 To be added only if the consent of Borrower is required by the terms of the Credit Agreement.

  
 Exhibit A – Page 3

 ANNEX 1 to Assignment and Assumption 

STANDARD TERMS AND CONDITIONS 

FOR ASSIGNMENT AND ASSUMPTION 

1. Representations and Warranties. 

1.1 Assignor. The Assignor (a) represents and warrants that (i) it is the legal and beneficial owner of the Assigned Interest,
(ii) the Assigned Interest is free and clear of any lien, encumbrance or other adverse claim and (iii) it has full power and authority, and has taken all action necessary, to execute and deliver this Assignment and Assumption and to
consummate the transactions contemplated hereby; and (b) assumes no responsibility with respect to (i) any statements, warranties or representations made in or in connection with the Credit Agreement or any other loan document,
(ii) the execution, legality, validity, enforceability, genuineness, sufficiency or value of the loan documents or any collateral thereunder, (iii) the financial condition of Borrower, any of its Subsidiaries or Affiliates or any other
Person obligated in respect of any loan document or (iv) the performance or observance by Borrower, any of its Subsidiaries or Affiliates or any other Person of any of their respective obligations under any loan document. 

1.2 Assignee. The Assignee (a) represents and warrants that (i) it has full power and authority, and has taken all action
necessary, to execute and deliver this Assignment and Assumption and to consummate the transactions contemplated hereby and to become a Lender under the Credit Agreement, (ii) it meets all requirements of an assignee under
Section 9.04(b) of the Credit Agreement (subject to receipt of such consents as may be required under the Credit Agreement) as a Lender thereunder and, to the extent of the Assigned Interest, shall have the obligations of a
Lender thereunder, (iv) it has received a copy of the Credit Agreement, together with copies of the most recent financial statements delivered pursuant to Section 6.2 thereof, as applicable, and such other documents
and information as it has deemed appropriate to make its own credit analysis and decision to enter into this Assignment and Assumption and to purchase the Assigned Interest on the basis of which it has made such analysis and decision independently
and without reliance on Administrative Agent or any other Lender, and (v) if it is a Foreign Lender, attached to the Assignment and Assumption is any documentation required to be delivered by it pursuant to the terms of the Credit Agreement,
duly completed and executed by the Assignee; and (b) agrees that (i) it will, independently and without reliance on Administrative Agent, the Assignor or any other Lender, and based on such documents and information as it shall deem
appropriate at the time, continue to make its own credit decisions in taking or not taking action under the loan documents, and (ii) it will perform in accordance with their terms all of the obligations that by the terms of the loan documents
are required to be performed by it as a Lender. 
 2. Payments. From and after the Effective Date, Administrative Agent shall make all
payments in respect of the Assigned Interest (including payments of principal, interest, fees and other amounts) to the Assignor for amounts that have accrued to but excluding the Effective Date and to the Assignee for amounts that have accrued from
and after the Effective Date. 

  
 1 

 3. General Provisions. This Assignment and Assumption shall be binding upon, and
inure to the benefit of, the parties hereto and their respective successors and assigns. This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument. Delivery of an executed
counterpart of a signature page of this Assignment and Assumption by telecopy shall be effective as delivery of a manually executed counterpart of this Assignment and Assumption. This Assignment and Assumption shall be governed by, and construed in
accordance with, the laws of the State of New York. 

  
 2 

 EXHIBIT B 

FORM OF BORROWING REQUEST 

Dated __________ 
 Citibank, N.A., 

as Administrative Agent 
  

 
 Attention: __________ 

Ladies and Gentlemen: 
 This Borrowing Request is
delivered to you by Enterprise Products Operating LLC (the “Borrower”), a Texas limited liability company, under Section 2.03 of the 364-Day Revolving Credit Agreement dated
as of September 7, 2021 (as restated, amended, modified, supplemented and in effect, the “Credit Agreement”), by and among the Borrower, the Lenders party thereto, and Citibank, N.A., as Administrative Agent. 

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

2. The Borrower hereby requests that the Loan or Loans be made on the following Business Day:
2/ 
 3. The Borrower hereby
requests that the Loan or Loans bear interest at the following interest rate, plus the Applicable Rate, as set forth below: 
  

									
	 Type of

Loan
	 	 Principal

Component of

Loan
	 	 Interest

Rate
	  	 Interest Period

(if applicable)
	  	 Maturity Date for

Interest Period

(if applicable)

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

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

	2. 	 Complete with a Business Day in accordance with Section 2.03 of the Credit Agreement.

  
 1 

 5. After giving effect to the requested Loan, the sum of the Exposures (including the
requested Loans) does not exceed the maximum amount permitted to be outstanding pursuant to the terms of the Credit Agreement. 
 6. All of
the conditions applicable to the Loans requested herein as set forth in the Credit Agreement have been satisfied as of the date hereof and will remain satisfied to the date of such Loans. 

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

IN WITNESS WHEREOF, the undersigned have executed this Borrowing Request this _____ day of _______________, ______. 

 

			
	ENTERPRISE PRODUCTS OPERATING LLC
		
	By:	 	Enterprise Products OLPGP, Inc.,
		 	its Manager
		
	By:	 	
                 

		 	Name:
		 	Title:

  
 2 

 EXHIBIT C 

FORM OF 
 INTEREST ELECTION REQUEST

 Dated _____________ 
 Citibank, N.A., 

as Administrative Agent 
  

 
 Attention: __________ 

Ladies and Gentlemen: 
 This irrevocable Interest
Election Request (the “Request”) is delivered to you under Section 2.07 of the 364-Day Revolving Credit Agreement dated as of September 7, 2021 (as restated, amended,
modified, supplemented and in effect from time to time, the “Credit Agreement”), by and among Enterprise Products Operating LLC, a Texas limited liability company (the “Company”), the Lenders party thereto (the
“Lenders”), and Citibank, N.A., as Administrative Agent. 
 1. This Interest Election Request is submitted for the purpose of: 

(a) [Converting] [Continuing] a ____________ Loan [into] [as] a ____________ Loan.1/ 
 (b) The
aggregate outstanding principal balance of such Loan is $______________. 
 (c) The last day of the current Interest Period
for such Loan is _____________.2/ 

(d) The principal amount of such Loan to be [converted] [continued] is $_____________.3/ 
 (e) The
requested effective date of the [conversion] [continuation] of such Loan is _______________.4/ 

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

 

	1. 	 Delete the bracketed language and insert “Alternate Base Rate” or “LIBOR”, as applicable,
in each blank. 

	2.	 Insert applicable date for any Eurodollar Loan being converted or continued. 

	3. 	 Complete with an amount in compliance with Section 2.08 of the Credit Agreement.

	4. 	 Complete with a Business Day in compliance with Section 2.08 of the Credit Agreement.

	5. 	 Complete for each Eurodollar Loan in compliance with the definition of the term “Interest Period”
specified in Section 1.01. 

  
 1 

 2. With respect to a Borrowing to be converted to or continued as a Eurodollar Borrowing, no
Event of Default exists, and none will exist upon the conversion or continuation of the Borrowing requested herein. 
 3. All capitalized
undefined terms used herein have the meanings assigned thereto in the Credit Agreement. 
 IN WITNESS WHEREOF, the undersigned has executed
this Interest Election Request this _____ day of ___________________, ____. 
  

			
	ENTERPRISE PRODUCTS OPERATING LLC
		
	By:	 	Enterprise Products OLPGP, Inc.,
		 	its Manager
		
	By:	 	
                 

		 	Name:
		 	Title:

  
 2 

 EXHIBIT D-1 and
D-2 
 FORMS OF 

OPINIONS OF COUNSEL FOR BORROWER AND EPD 

 EXHIBIT E 

FORM OF COMPLIANCE CERTIFICATE 

The undersigned hereby certifies that he is the _______________________ of ENTERPRISE PRODUCTS OLPGP, INC. a Delaware corporation, manager of
ENTERPRISE PRODUCTS OPERATING LLC, a Texas limited liability company (the “Borrower”), and that as such he is authorized to execute this certificate on behalf of the Borrower. With reference to the
364-Day Revolving Credit Agreement dated as of September 7, 2021 (as restated, amended, modified, supplemented and in effect from time to time, the “Agreement”), among the Borrower, Citibank,
N.A., as Administrative Agent, for the lenders (the “Lenders”), which are or become a party thereto, and such Lenders, the undersigned represents and warrants as follows (each capitalized term used herein having the same meaning given to
it in the Agreement unless otherwise specified); 
 (a) [There currently does not exist any Default under the Agreement.] [Attached hereto is
a schedule specifying the details of [a] certain Default[s] which exist under the Agreement and the action taken or proposed to be taken with respect thereto.] 

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

EXECUTED AND DELIVERED this ____ day of _________________, 20__. 

 

			
	ENTERPRISE PRODUCTS OPERATING LLC
		
	By:	 	Enterprise Products OLPGP, Inc.,
		 	its Manager
		
	By:	 	
                 

		 	Name:
		 	Title:

 EXHIBIT F 

FORM OF 
 NOTE 

(364-Day Revolving Credit Facility) 

$_____________ _______, 201__ 
 ENTERPRISE
PRODUCTS OPERATING LLC, a Texas limited liability company (the “Borrower”), for value received, promises and agrees to pay to ______________________________ (the “Lender”), or order, at the payment office of
CITIBANK, N.A., as Administrative Agent, at __________, the principal sum of ______________________________ AND NO/100 DOLLARS ($_____________), or such lesser amount as shall equal the aggregate unpaid principal amount of the Loans owed to the
Lender under the Credit Agreement, as hereafter defined, in lawful money of the United States of America and in immediately available funds, on the dates and in the principal amounts provided in the Credit Agreement, and to pay interest on the
unpaid principal amount as provided in the Credit Agreement for such Loans, at such office, in like money and funds, for the period commencing on the date of each such Loan until such Loan shall be paid in full, at the rates per annum and on the
dates provided in the Credit Agreement. 
 This note evidences the Loans owed to the Lender under that certain 364-Day Revolving Credit Agreement dated as of September 7, 2021, by and among the Borrower, Citibank, N.A., individually, as Administrative Agent, and the other financial institutions parties thereto
(including the Lender) (such Credit Agreement, together with all amendments or supplements thereto, being the “Credit Agreement”), and shall be governed by the Credit Agreement. Capitalized terms used in this note and not defined in
this note, but which are defined in the Credit Agreement, have the respective meanings herein as are assigned to them in the Credit Agreement. 

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

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

Except only for any notices which are specifically required by the Credit Agreement, the Borrower/ and any and all co-makers, endorsers, guarantors and sureties severally waive notice (including but not limited to notice of intent to accelerate and notice of acceleration, notice of protest and notice of dishonor), demand,
presentment for payment, protest, diligence in collecting and the filing of suit for the purpose of fixing liability, and consent that the time of payment hereof may be extended and re-extended from time to
time without notice to any of them. Each such person agrees that its liability on or with respect to this note shall not be 

  
 1 

 
affected by any release of or change in any guaranty or security at any time existing or by any failure to perfect or maintain perfection of any lien against or security interest in any such
security or the partial or complete unenforceability of any guaranty or other surety obligation, in each case in whole or in part, with or without notice and before or after maturity. 

The Credit Agreement provides for the acceleration of the maturity of this note upon the occurrence of certain events and for prepayment of
Loans upon the terms and conditions specified therein. Reference is made to the Credit Agreement for all other pertinent purposes. 
 This
note is issued pursuant to and is entitled to the benefits of the Credit Agreement. 
 It is hereby understood and agreed that Enterprise
Products OLPGP, Inc., the Manager of the Borrower, shall have no personal liability, as Manager or otherwise, for the payment of any amount owing or to be owing hereunder. 

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

			
	ENTERPRISE PRODUCTS OPERATING LLC
		
	By:	 	Enterprise Products OLPGP, Inc.,
		 	its Manager
		
	By:	 	
                 

		 	Name:
		 	Title:

  
 2 

 SCHEDULE A 

TO 
 NOTE 

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

OF 
 LOANS AND PAYMENTS OF
PRINCIPAL AND INTEREST 
  

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

  
 3 

 EXHIBIT G-1 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(FOREIGN LENDERS; NOT PARTNERSHIPS) 
 (For
Foreign Lenders That Are Not Partnerships For U.S. Federal Income Tax Purposes) 
 Reference is hereby made to the
364-Day Revolving Credit Agreement dated as of September 7, 2021 (as amended, supplemented, restated, or otherwise modified from time to time, the “Credit Agreement”), among Enterprise
Products Operating LLC, a Texas limited liability company (the “Borrower”), Citibank, N.A., as Administrative Agent, and the financial institutions from time to time parties thereto as Lenders. 

Pursuant to the provisions of Section 2.17(e) of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole
record and beneficial owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) it is not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it
is not a ten percent shareholder of the Borrower within the meaning of Section 881(c)(3)(B) of the Code and (iv) it is not a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished the Administrative Agent and the Borrower with a certificate of its non-U.S. Person
status on IRS Form W-8BEN (or W-8BEN E, as applicable). By executing this certificate, the undersigned agrees that (1) if the information provided on this
certificate changes, the undersigned shall promptly so inform the Borrower and the Administrative Agent, and (2) the undersigned shall have at all times furnished the Borrower and the Administrative Agent with a properly completed and currently
effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 

[NAME OF LENDER] 
 By: 

Name: 
 Title: 

Date: ________ __, 20[__] 

  
 Exhibit G-1 

 EXHIBIT G-2 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(FOREIGN PARTICIPANTS; NOT PARTNERSHIPS) 

(For Foreign Participants That Are Not Partnerships For U.S. Federal Income Tax Purposes) 

Reference is hereby made to the 364-Day Revolving Credit Agreement dated as of September 7, 2021 (as amended,
supplemented, restated, or otherwise modified from time to time, the “Credit Agreement”), among Enterprise Products Operating LLC, a Texas limited liability company (the “Borrower”), Citibank, N.A., as
Administrative Agent, and the financial institutions from time to time parties thereto as Lenders. 
 Pursuant to the provisions of
Section 2.17(e) of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole record and beneficial owner of the participation in respect of which it is providing this certificate, (ii) it is
not a bank within the meaning of Section 881(c)(3)(A) of the Code, (iii) it is not a ten percent shareholder of the Borrower within the meaning of Section 881(c)(3)(B) of the Code, and (iv) it is not a controlled foreign
corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished its participating Lender with a
certificate of its non-U.S. Person status on IRS Form W-8BEN (or W 8BEN E, as applicable). By executing this certificate, the undersigned agrees that (1) if the
information provided on this certificate changes, the undersigned shall promptly so inform such Lender in writing, and (2) the undersigned shall have at all times furnished such Lender with a properly completed and currently effective
certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two calendar years preceding such payments. 

Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 

[NAME OF PARTICIPANT] 
 By: 

Name: 
 Title: 

Date: ________ __, 20[__] 

  
 Exhibit G-2 

 EXHIBIT G-3 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(FOREIGN PARTICIPANTS; PARTNERSHIPS) 
 (For
Foreign Participants That Are Partnerships For U.S. Federal Income Tax Purposes) 
 Reference is hereby made to the
364-Day Revolving Credit Agreement dated as of September 7, 2021 (as amended, supplemented, restated, or otherwise modified from time to time, the “Credit Agreement”), among Enterprise
Products Operating LLC, a Texas limited liability company (the “Borrower”), Citibank, N.A., as Administrative Agent, and the financial institutions from time to time parties thereto as Lenders. 

Pursuant to the provisions of Section 2.17(e) of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole
record owner of the participation in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such participation, (iii) with respect such participation, neither the
undersigned nor any of its direct or indirect partners/members is a bank extending credit pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code,
(iv) none of its direct or indirect partners/members is a ten percent shareholder of the Borrower within the meaning of Section 881(c)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a controlled foreign
corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 
 The undersigned has furnished its participating Lender with
IRS Form W-8IMY accompanied by one of the following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form
W-8BEN (or W 8BEN E, as applicable) or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN (or W 8BEN E, as
applicable) from each of such partner’s/member’s beneficial owners that is claiming the portfolio interest exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate
changes, the undersigned shall promptly so inform such Lender and (2) the undersigned shall have at all times furnished such Lender with a properly completed and currently effective certificate in either the calendar year in which each payment
is to be made to the undersigned, or in either of the two calendar years preceding such payments. 
 Unless otherwise defined herein, terms defined in the
Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 
 [NAME OF PARTICIPANT] 

By: 
 Name: 

Title: 
 Date: ________ __, 20[__] 

  
 Exhibit G-3 

 EXHIBIT G-4 

FORM OF U.S. TAX COMPLIANCE CERTIFICATE 

(FOREIGN LENDERS; PARTNERSHIPS) 
 (For
Foreign Lenders That Are Partnerships For U.S. Federal Income Tax Purposes) 
 Reference is hereby made to the
364-Day Revolving Credit Agreement dated as of September 7, 2021 (as amended, supplemented, restated, or otherwise modified from time to time, the “Credit Agreement”), among Enterprise
Products Operating LLC, a Texas limited liability company (the “Borrower”), Citibank, N.A., as Administrative Agent, and the financial institutions from time to time parties thereto as Lenders. 

Pursuant to the provisions of Section 2.17(e) of the Credit Agreement, the undersigned hereby certifies that (i) it is the sole
record owner of the Loan(s) (as well as any Note(s) evidencing such Loan(s)) in respect of which it is providing this certificate, (ii) its direct or indirect partners/members are the sole beneficial owners of such Loan(s) (as well as any
Note(s) evidencing such Loan(s)), (iii) with respect to the extension of credit pursuant to this Credit Agreement or any other loan document, neither the undersigned nor any of its direct or indirect partners/members is a bank extending credit
pursuant to a loan agreement entered into in the ordinary course of its trade or business within the meaning of Section 881(c)(3)(A) of the Code, (iv) none of its direct or indirect partners/members is a ten percent shareholder of the
Borrower within the meaning of Section 881(c)(3)(B) of the Code and (v) none of its direct or indirect partners/members is a controlled foreign corporation related to the Borrower as described in Section 881(c)(3)(C) of the Code. 

The undersigned has furnished the Administrative Agent and the Borrower with IRS Form W-8IMY accompanied by one of the
following forms from each of its partners/members that is claiming the portfolio interest exemption: (i) an IRS Form W-8BEN (or W 8BEN E, as applicable) or (ii) an IRS Form W-8IMY accompanied by an IRS Form W-8BEN (or W 8BEN E, as applicable) from each of such partner’s/member’s beneficial owners that is claiming the portfolio interest
exemption. By executing this certificate, the undersigned agrees that (1) if the information provided on this certificate changes, the undersigned shall promptly so inform the Borrower and the Administrative Agent, and (2) the undersigned
shall have at all times furnished the Borrower and the Administrative Agent with a properly completed and currently effective certificate in either the calendar year in which each payment is to be made to the undersigned, or in either of the two
calendar years preceding such payments. Unless otherwise defined herein, terms defined in the Credit Agreement and used herein shall have the meanings given to them in the Credit Agreement. 

[NAME OF LENDER] 
 By: 

Name: 
 Title: 

Date: ________ __, 20[__] 

  
 1

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