Document:

First Amendment to Amended and Restated Credit Agreement

 Exhibit 10.34 
  

 Execution 
 FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 
 Dated as of November 1, 2006

 among 
 ENERGY TRANSFER
EQUITY, L.P., 
 as the Borrower, 
 WACHOVIA BANK, NATIONAL ASSOCIATION, 
 as Administrative Agent, 
 UBS LOAN FINANCE LLC, 
 as Syndication Agent, 
 BNP PARIBAS, CITICORP NORTH AMERICA, INC., and 
 JPMORGAN CHASE BANK, N.A. 
 as Co-Documentation Agents, 
 and 
 The Other Lenders Party Hereto 
  

									
		 	UBS SECURITIES LLC	  	AND	  	WACHOVIA CAPITAL MARKETS, LLC	  	

 as 
 Joint Lead Arrangers and Joint Book Managers 
 $1,300,000,000 Term Loans - Series B 
  

 FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT 
 THIS FIRST AMENDMENT TO AMENDED AND RESTATED CREDIT AGREEMENT (herein called the “First Amendment”) dated for reference as of November 1,
2006, by and between ENERGY TRANSFER EQUITY, L.P., a Delaware limited partnership (the “Borrower”), and WACHOVIA BANK, NATIONAL ASSOCIATION, as Administrative Agent, (in such capacity, the “Administrative Agent”),
LC Issuer, and Swing Line Lender, and binding upon the financial institutions who are from time to time Lenders under the Credit Agreement as described herein, with the consent of the Majority Lenders under such Credit Agreement. 
 W I T N E S S E T H: 
 WHEREAS, the borrower
has entered into that certain Amended and Restated Credit Agreement dated as of July 13, 2006 (herein, as from time to time amended, supplemented or restated, called the “Original Agreement”), by and among the borrower,
Administrative Agent, the LC Issuer, Swingline Lender, Co-Syndication Agents, Co-Documentation Agents, Senior Managing Agents, and Managing Agents named therein and the Lenders from time to time party thereto, pursuant to which the LC Issuer,
Swingline Lender and other Lenders (as defined therein) have agreed to advance funds and extend credit to the Borrower up to an aggregate principal amount of $650,000,000, subject to increases as provided therein up to an aggregate principal amount
of $750,000,000; and 
 WHEREAS, the Borrower, the Administrative Agent, and the Majority Lenders desire to amend the Original Agreement as
provided herein; 
 NOW, THEREFORE, in consideration of the premises and the mutual covenants and agreements contained herein and in the
Original Agreement and in consideration of the loans and other credit that may hereafter be extended by Lenders to the Borrower, and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties
hereto do hereby agree as follows: 
 ARTICLE I. – Definitions and References 
 Section 1.1. Terms Defined in the Original Agreement. Unless the context otherwise requires or unless otherwise expressly defined herein, the
terms defined in the Original Agreement shall have the same meanings whenever used in this First Amendment. The term the “Credit Agreement” shall mean the Original Agreement as amended by this First Amendment. 
 ARTICLE II. – Amendments to Original Agreement 
 Section 2.1. “Additional Definitions”. Article I of the Original Agreement is hereby amended to add the following definitions of “Commitment Increase Agreement”, “ETE Transactions”, “Term Loan
Increase Conditions”, “Term Loan Increase” and “Unit Purchase Leverage Period”: 

 “‘Commitment Increase Agreement’ has the meaning given to such term
in Section 2.18.” 
 “‘ETE Transactions’ means (i) the purchase by ETE for an
aggregate cash consideration of not greater than $1,200,000,000 of Class G Units of ETP at a market price approved by a special committee of the Board of Managers of ETP LLC, (ii) the acquisition by the Borrower from ETI of the Class B limited
partnership interests of ETP GP held by ETI (representing 50% of the total of such Class B limited partnership interests) in consideration for the issuance to ETI of additional limited partner interests of the Borrower plus the assumption of
$70,500,000 of Indebtedness of ETI under that certain Credit and Guaranty Agreement dated April 24, 2006 among ETI, UBS AG, Stamford Branch, as administrative agent, and the lenders from time to time party thereto, (iii) the payment in
full by the Borrower of all Indebtedness of ETI assumed as described in clause (ii) above and (iv) the release of all Liens in respect of the Class B Limited Partnership interests of ETP GP held by ETI acquired as described in clause
(ii) above.” 
 “‘ETI’ means Energy Transfer Investments, L.P., a Delaware limited
partnership.” 
 “‘Term Loan Increase’ has the meaning given to such term in
Section 2.18.” 
 “‘Term Loan Increase Conditions’ mean each of the following:
(i) subject only to the funding of the Term Loans to be made pursuant to Section 2.18(c), the consummation of the ETE Transactions, (ii) the terms of the Class G Units of ETP shall be substantially the same as the terms of the Class F
Units of ETP, (iii) subject only to the funding of the Term Loans to be made pursuant to Section 2.18(c), the consummation by ETP of its acquisition of 50% of the ownership of CCE Holdings, LLC (“CCE”) pursuant to the
Purchase and Sale Agreement dated as of September 14, 2006 by and among ETP, as the Buyer, and EFS-PA, LLC, CDPQ Investments (U.S.) Inc., Lake Bluff Inc., Merrill Lynch Ventures, L.P. 2001 and Kings Road Holdings I LLC, as the Sellers, and
providing for the subsequent transfer to CCE of such 50% ownership of CCE in consideration for the transfer to ETP of 100% of the ownership of Transwestern Pipeline Company pursuant to the Redemption Agreement dated as of September 14, 2006 by
and between ETP and CCE Holdings, LLC, involving, for all such transactions, an aggregate cash consideration of not greater than $1,500,000,000, (iv) the Borrower shall have on the date of the consummation of the ETE Transactions a senior
secured debt rating by Moody’s and Fitch, (v) the Borrower and the Administrative Agent, on behalf of the Lenders shall have executed an appropriate Form U-1 pursuant to the Regulation U and X of the Board of Governors of the Federal
Reserve System and the Administrative Agent has determined that, after giving effect to the Credit Extension in connection with the ETE Transactions, no violation of such Regulations shall have occurred, (vi) the Borrower shall have delivered
to the Administrative Agent a duly completed pro forma Compliance Certificate as of August 31, 2006, signed by a Responsible Officer of the Borrower, reflecting, among other matters, compliance by the Borrower, on a pro forma basis after giving
effect to the Credit Extension in connection with the ETE Transactions or otherwise, with the provisions of Section 7.12(a), (b) and (d) and such other assurances, certificates, documents, consents or opinions as
the Administrative Agent reasonably may 
  

					
		  	3	  	FIRST AMENDMENT TO CREDIT AGREEMENT

 require, (vii) any fees required to be paid in connection with such Credit Extension shall have been
paid, and (viii) the Borrower shall have paid all fees, charges and disbursements of counsel to the Administrative Agent to the extent invoiced prior to or on the consummation of the ETE Transactions.” 
 “‘Unit Purchase Leverage Period’ means the period from and including the date of the ETE Transactions to but not
including the earlier of (i) May 30, 2007 or (ii) the date when the Borrower has received at least $300,000,000 of aggregate net cash proceeds of the issuance of its Equity Interests on or after the ETE Transactions.” 

Section 2.2. Applicable Term Loan Rate. The definition of “Applicable Term Loan Rate” in Article I of the Original
Agreement is amended to add the following to the end thereof: 
 “, except as otherwise provided pursuant to Section 2.18 in
respect of Term Loans made in connection with a particular Term Loan Increase” 
 Section 2.3. Consolidated EBITDA of the
Borrower. Paragraphs (a) and (b) of the definition of “Consolidated EBITDA of the Borrower” in Article I of the Original Agreement are amended in their entirety to read as follows: 
 “(a) the product of four (4) times the amount of cash distributions payable with respect to the last Fiscal Quarter in such period by ETP to the
Borrower or its Restricted Subsidiaries in respect of limited partnership units in ETP to the extent actually received on or prior to the date the financial statements with respect to such Fiscal Quarter referred in the Section 6.02 are
required to be delivered by the Borrower; provided that if the Borrower has acquired or disposed of any limited partnership units in ETP at any time after the first day of such Fiscal Quarter, the determinations in this clause (a) shall be made
(other than for purposes of Section 7.12(c)) giving pro forma effect to such acquisition or disposition as if such acquisition or disposition had occurred on the first day of the Fiscal Quarter; plus 
 “(b) the product of four (4) times the amount of cash distributions payable with respect to the last Fiscal Quarter in such period by ETP to the
Borrower or its Restricted Subsidiaries in respect of the general partnership interests or incentive distribution rights to the extent actually received on or prior to the date the financial statements with respect to such Fiscal Quarter referred in
the Section 6.02 are required to be delivered by the Borrower; provided that any applicable determinations in this clause (b) after the acquisition by the Borrower from ETI of the Class B Interests in ETP GP LP shall be made (other
than for purposes of Section 7.12(c)) giving pro forma effect to such acquisition (and the incentive distribution rights in ETP represented by such Class B Interests) as if such acquisition had occurred on the first day of the Fiscal
Quarter; plus” 
 Section 2.4. Interest Period. Subclause (c) of the definition of “Interest Period”
in Article I of the Original Agreement is hereby amended in its entirety to read as follows: 
  

					
		  	4	  	FIRST AMENDMENT TO CREDIT AGREEMENT

 “(c) no Interest Period shall extend beyond the Revolving Credit Maturity Date, in the case of
Revolving Credit Loans, or the Term Loan Maturity Date applicable to such Loans, in the case of Term Loans.” 
 Section 2.5.
Term Loan Maturity Date. The definition of “Term Loan Maturity Date” in Article I of the Original Agreement is amended to add the following to the end thereof: 
 “, or such other date as is otherwise provided pursuant to Section 2.18 in respect of the Terms Loans made in connection with a
particular Term Loan Increase.” 
 Section 2.6. Value. The definition of “Value” in Article I of the Original
Agreement is amended to insert the following sentence at the end of the definition: 
 “The ‘Value’ attributed to the Class G
Units of ETP shall be the price of the common units of ETP, as provided above.” 
 Section 2.7. Term Loans.
Section 2.01(b) of the Original Agreement is hereby amended to add the phrase “applicable to such Term Loans” after the words “Term Loan Maturity Date” in the second to last sentence of the section. 
 Section 2.8. Use of Proceeds. Section 2.05 of the Original Agreement is hereby amended to insert the following sentence immediately
following the first sentence of such Section: 
 “The Borrower shall use the proceeds of the Term Loans made pursuant to
Section 2.18(c): (a) to pay fees and expenses in connection with such Term Loans and the ETE Transactions, (b) to pay up to $1,200,000,000 of the cash required as payment of the purchase price of Class G Units of ETP and up to
$70,500,000 of the cash required as payment of the Indebtedness assumed from ETI, each in connection with the ETE Transactions, and (c) with regard to the balance of the proceeds after using such proceeds in the manner described in clauses
(a) and (b) of this sentence, to partially prepay the Revolving Credit Loans (but without reduction of the Revolving Credit Commitments).” 
 Section 2.9. Interest Rates. Section 2.12(a) of the Original Agreement is hereby amended by adding the following language at the end of clause (v): 
 “, with accrued unpaid interest being due and payable, whether on the Revolving Credit Loans or any of the Term Loans, on each Interest Payment Date
and, on past due amounts, on demand.” 
 Section 2.10. Increase in Aggregate Revolving Credit Commitments.
Section 2.17(a) of the Original Agreement is hereby amended to change the reference to “Section 2.18” in clause (ii) to “Section 2.18(b)”. 
 Section 2.11. Increase of Term Loans. Section 2.18 of the Original Agreement is hereby amended in its entirety to read as follows:

  

					
		  	5	  	FIRST AMENDMENT TO CREDIT AGREEMENT

 “(a) The Borrower shall have the option, without the consent of the Lenders, to
cause one or more increases in the Term Commitments pursuant to Section 2.18(b) or (c) (each a “Term Loan Increase”) by adding, subject to the prior approval of the Administrative Agent (such approval not to
be unreasonably withheld), to this Agreement one or more financial institutions as Term Lenders (collectively, the “New Term Lenders”) or by allowing one or more Lenders to make a Term Commitment or increase their respective
existing Term Commitments evidenced by a commitment increase agreement (each a “Commitment Increase Agreement”) meeting the requirements of Section 2.18(d). 
 “(b) The Borrower shall have the option from time to time to cause one or more Term Loan Increases by adding New Term Lenders or by
allowing one or more Lenders to make a Term Commitment or increase their respective existing Term Commitments; provided however that: (i) prior to and after giving effect thereto, no Default or Event of Default shall have occurred
hereunder and be continuing, (ii) no such increase shall cause the aggregate increases in Revolving Credit Commitments pursuant to Section 2.17 plus the aggregate Term Commitments obtained pursuant to this
Section 2.18(b) to exceed $100,000,000, (iii) no Lender shall make a Term Commitment nor shall any Lender’s Term Commitment be increased without such Lender’s consent and (iv) no more than three requests may be made
for increases in Revolving Credit Commitments pursuant to Section 2.17 or for increases in Term Commitments pursuant to this Section 2.18(b). 
 “(c) Contemporaneously with the ETE Transactions, the Borrower shall have the option to cause a single increase in the Term
Commitments by adding New Term Lenders or by allowing one or more Lenders to make a Term Commitment or increase their respective existing Term Commitments; provided however that: (i) prior to and after giving effect thereto, no
Default or Event of Default shall have occurred hereunder and be continuing, (ii) such increase in the aggregate Term Commitments obtained pursuant to this Section 2.18(c) shall not exceed $1,300,000,000, (iii) no Lender shall
make a Term Commitment nor shall any Lender’s Term Commitment be increased without such Lender’s consent and (iv) each of the Term Loan Increase Conditions shall have been satisfied. The Term Loan Maturity Date for the Terms Loans
made pursuant to the Term Loan Increase pursuant to this Section 2.18(c) shall be specified in applicable Commitment Increase Agreement, and shall not be earlier than the existing Term Loan Maturity Date. Such Term Loan Maturity Date for
such Term Loan Increase shall not change in any manner the Term Loan Maturity Date for the other Term Loans. 
 “(d) Each
Commitment Increase Agreement required pursuant to Section 2.18(b) or (c) shall (i) be in form and substance acceptable to the Administrative Agent, (ii) be executed by the Borrower, the Administrative Agent, New
Term Lenders, if any, making an initial Term Commitment and Lenders, if any, increasing their existing Term Commitments, and (iii) indicate the amount and allocation of such Term Commitments and the effective date 
  

					
		  	6	  	FIRST AMENDMENT TO CREDIT AGREEMENT

 thereof (the applicable “Term Commitment Effective Date”). The Commitment Increase
Agreement required in connection with a Term Loan Increase pursuant to Section 2.18(c) shall also indicate the Term Loan Maturity Date applicable to the Terms Loans made in connection with such Term Loan Increase. Each of the Applicable
Term Loan Rates in respect of the Term Loans made in connection with any Term Loan Increase may be increased by the applicable Commitment Increase Agreement or by an amendment to this Agreement or by a separate agreement entered into between the
Borrower and the Administrative Agent, with the consent of the Lenders making the Term Loans in connection with such Term Loan Increase, but without the consent of any other Lender. Each Term Loan made pursuant to a Term Loan Increase that has a
Term Loan Maturity Date or Applicable Term Loan Rate that is different than those of the Term Loans originally made pursuant to Section 2.01 shall be designed as a separate Series (“Series B,” “Series C”, etc) in the
applicable Commitment Increase Agreement, and each assignment or participation of any such Term Loan shall identify such Terms Loan by such Series designation and disclose the Term Loan Maturity Date or Applicable Term Loan Rate, as applicable, for
such Term Loan. Each financial institution that becomes a New Term Lender pursuant to this Section 2.18 by the execution and delivery to the Administrative Agent of the applicable Commitment Increase Agreement shall be a “Term
Lender” and a “Lender” for all purposes under this Agreement on the applicable Term Commitment Effective Date and shall make its Term Loan on such Term Commitment Effective Date. The Borrower shall continue or convert Term Loans on
each Term Commitment Effective Date (and pay any additional amounts required pursuant to Section 3.06) to the extent necessary to keep the outstanding Term Loans of each Lender of the same Type ratable with existing Term Loans of the
same Type. 
 “(e) As a condition precedent to each Term Commitment pursuant to Section 2.18(b) or
(c) above, the Borrower shall deliver to the Administrative Agent, to the extent requested by the Administrative Agent, the following in form and substance satisfactory to the Administrative Agent: 
 (i) a certificate dated as of the applicable Term Commitment Effective Date, signed by a Responsible Officer of the Borrower certifying
that each of the conditions to such increase set forth in this Section shall have occurred and been complied with and that, before and after giving effect to such increase, (A) the representations and warranties contained in this Agreement and
the other Loan Documents are true and correct in all material respects on and as of the Term Commitment Effective Date after giving effect to such increase, 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) no Default or Event of Default exists; 
 (ii) such certificates of resolutions or other action, incumbency certificates and/or other certificates of Responsible Officers of the
Borrower and each Guarantor as the Administrative Agent may require 
  

					
		  	7	  	FIRST AMENDMENT TO CREDIT AGREEMENT

 evidencing the identity, authority and capacity of each Responsible Officer thereof authorized to act as
a Responsible Officer in connection with such Commitment Increase Agreement and any Guarantors’ Consent to such Commitment Increase Agreement, and such documents and certifications as the Administrative Agent may require to evidence that the
Borrower and each Guarantor is validly existing and in good standing in its jurisdiction of organization; and 
 (iii) a
favorable opinion of independent legal counsel reasonably acceptable to the Administrative Agent, in form and substance reasonably satisfactory to the Administrative Agent, relating to such Commitment Increase Agreement, the any Guarantors’
Consent to such Commitment Increase Agreement, and any related or contemporaneous transactions, addressed to the Administrative Agent and each Lender.” 
 Section 2.12. Limitation on Restricted Payments. Clauses (c) of Section 7.05 of the Original Agreement are hereby amended to delete the phrase “up to a maximum purchase price in the
aggregate during the term of this Agreement of $20,000,000”. 
 Section 2.13. Leverage Ratio of the Borrower. Subclauses
(A) and (B) of clause (iii) of Section 7.12(a) of the Original Agreement are hereby amended to read as follows: 
 “(A) 4.50 to 1.00 at any time other than during a Specified Acquisition Period or the Unit Purchase Leverage Period, (B) 5.00 to 1.00 during a Specified Acquisition Period, and (C) 5.25 to 1.00 during the Unit Purchase
Leverage Period.” 
 Section 2.14. Interest Coverage Ratio. Section 7.12(c) of the Original Agreement is hereby amended
to read as follows: 
 “(c) Interest Coverage Ratio. The ratio of (i) Consolidated EBITDA of the Borrower for
each period of four consecutive Fiscal Quarters to (ii) Consolidated Interest Expense for such period will never be less than (A) 3.00 to 1.0 at any time other than during the Unit Purchase Leverage Period and (B) 2.50 to 1.00 during
the Unit Purchase Leverage Period. 
 ARTICLE III. – Conditions of Effectiveness 
 Section 3.1. Effective Date. This First Amendment shall become effective November 1, 2006 (the “Effective Date”), and is
expressly conditioned, upon the receipt by the Administrative Agent, at the Administrative Agent’s office, of a counterpart of this First Amendment executed and delivered by the Borrower and the Administrative Agent, a counterpart of the
Guarantors’ Consent and Agreement attached hereto signed by each of the Guarantors, and a counterpart of the Lenders’ Consent attached hereto signed by Lenders constituting Majority Lenders. 
  

					
		  	8	  	FIRST AMENDMENT TO CREDIT AGREEMENT

 ARTICLE IV. – Representations and Warranties 
 Section 4.1. Representations and Warranties. In order to induce the Administrative Agent and the Lenders to execute and deliver this First
Amendment, the Borrower represents and warrants to each Lender that: 
 (a) The representations and warranties contained in
Article V of the Original Agreement are true and correct in all material respects at and as of the time of the effectiveness hereof, except to the extent that such representations and warranties specifically refer to an earlier date, in which case
they shall be true and correct as of such earlier date. 
 (b) The Borrower has duly taken all action necessary to authorize
the execution and delivery by it of this First Amendment, the Borrower is duly authorized to borrow monies under the Credit Agreement, and the Borrower is duly authorized to perform its obligations under the Credit Agreement. 
 (c) The execution and delivery by the Borrower of this First Amendment, the performance by the Borrower of its obligations hereunder and
the consummation of the transactions contemplated hereby do not and will not conflict with any Law or of the organizational documents of any Restricted Person, or of any material agreement, judgment, license, order or permit applicable to or binding
upon any Restricted Person, or result in the creation of any Lien upon any assets or properties of any Restricted Person. Except for those which have been obtained, no consent, approval, authorization or order of any Tribunal or third party is
required in connection with the execution and delivery by the Borrower of this First Amendment or the consummation by any Restricted Person of the transactions contemplated hereby. 
 (d) When duly executed and delivered, this First Amendment will be a legal and binding obligation of the Borrower enforceable in
accordance with its terms, except as limited by bankruptcy, insolvency or similar laws of general application relating to the enforcement of creditors’ rights and by equitable principles of general application. 
 ARTICLE V. – Miscellaneous 
 Section 5.1. Ratification of Agreements. The Original Agreement as hereby amended is hereby ratified and confirmed in all respects. Any reference to the Credit Agreement in any Loan Document shall be deemed to be a reference to
the Original Agreement as hereby amended. The execution, delivery and effectiveness of this First Amendment shall not, except as expressly provided herein, operate as a waiver of any right, power or remedy of Lenders or the Administrative Agent
under the Credit Agreement, the Notes, or any other Loan Document nor constitute a waiver of any provision of the Credit Agreement, the Notes or any other Loan Document. 
 Section 5.2. Survival of Agreements. All representations, warranties, covenants and agreements of the Borrower herein shall survive the execution and delivery of this First Amendment and the performance
hereof, and shall further survive until all of the Obligations are paid in full. All statements and agreements contained in any certificate or instrument delivered 
  

					
		  	9	  	FIRST AMENDMENT TO CREDIT AGREEMENT

 by any Restricted Person hereunder or under the Credit Agreement to the Administrative Agent or any Lender shall be
deemed to constitute representations and warranties by, and agreements and covenants of, the Borrower under this First Amendment and under the Credit Agreement. 
 Section 5.3. Loan Documents. This First Amendment is a Loan Document, and all provisions in the Credit Agreement pertaining to Loan Documents apply hereto. 
 Section 5.4. Governing Law. This First Amendment shall be governed by and construed in accordance with the laws applicable to the Credit
Agreement. 
 Section 5.5. Counterparts. This First Amendment may be separately executed in counterparts and by the different
parties hereto in separate counterparts, each of which when so executed shall be deemed to constitute one and the same First Amendment. 
 THIS FIRST AMENDMENT AND THE OTHER LOAN DOCUMENTS REPRESENT THE FINAL AGREEMENT BETWEEN THE PARTIES AND MAY NOT BE CONTRADICTED BY EVIDENCE OF PRIOR, CONTEMPORANEOUS, OR SUBSEQUENT ORAL AGREEMENTS OF THE PARTIES. THERE ARE NO UNWRITTEN
ORAL AGREEMENTS OF THE PARTIES. 
 [REMAINDER OF PAGE INTENTIONALLY LEFT BLANK] 
  

					
		  	10	  	FIRST AMENDMENT TO CREDIT AGREEMENT

 IN WITNESS WHEREOF, this Amendment is executed as of the date first written above. 
  

					
	BORROWER:	 	ENERGY TRANSFER EQUITY, L.P.
			
		 	By:	 	LE GP, LLC, its general partner
			
		 	By:	 	 /s/ John W. McReynolds

		 		 	John W. McReynolds
		 		 	President and Chief Financial Officer
		
		 	WACHOVIA BANK, NATIONAL ASSOCIATION, as the Administrative Agent, LC Issuer and Swing Line Lender
			
		 	By:	 	 /s/ Todd Schanzlin

		 	Name:	 	Todd Schanzlin
		 	Title:	 	Vice President

 FIRST AMENDMENT TO CREDIT AGREEMENT 

 Lenders’ Consent to First Amendment 
 to Credit Agreement 
 IN WITNESS WHEREOF, the undersigned Lender hereby consents to the
First Amendment to Amended and Restated Credit Agreement dated for reference as of November 1, 2006, among ENERGY TRANFER EQUITY, L.P., and WACHOVIA BANK, NATIONAL ASSOCIATION, as the Administrative Agent, LC Issuer and Swing Lender. 
  

			
	  

	Name of Lender
		
	By:	 	  

	Name:	 	
	Title:	 	

 CONSENT AND AGREEMENT 
 November 1, 2006 
 Reference is hereby made to (i) that certain First
Amendment to Amended and Restated Credit Agreement dated for reference of even date herewith (the “First Amendment”) by and among Energy Transfer Equity, L.P., a Delaware limited partnership (the “Borrower”),
Wachovia Bank, National Association, as administrative agent (the “Administrative Agent”), LC Issuer and Swing Line Lender and the Lenders party thereto (“Lenders”), (ii) that certain Amended and Restated
Credit Agreement dated as of July 13, 2006 (as amended, supplemented, modified or restated, the “Credit Agreement”) by and among the Borrower, the Administrative Agent and Lenders, and (iii) the Pledge and Security
Agreement (as supplemented, modified or restated, the “Pledge Agreement”) to which each of the undersigned is a party. Terms that are defined in the Credit Agreement and used but not defined herein have the meanings given to them in the
Credit Agreement. 
 By its execution below, each of the undersigned hereby (a) consents to the provisions of the First Amendment and
the transactions contemplated therein, (b) ratifies and confirms the Pledge Agreement, (c) ratifies, confirms and agrees that all obligations arising under the Credit Agreement shall be secured under and pursuant to the Pledge Agreement,
(d) agrees that all of its respective obligations and covenants under the Pledge Agreement shall remain unimpaired by the execution and delivery of the First Amendment and the other documents and instruments executed in connection therewith,
and (e) agrees that the Pledge Agreement shall remain in full force and effect. 
 [THE REMAINDER
OF THIS PAGE IS INTENTIONALLY LEFT BLANK.] 

 IN WITNESS WHEREOF, this Consent and Agreement is executed as of the date first above written.

  

							
	ENERGY TRANSFER EQUITY, L.P.
			
		 	By:	 	LE GP, LLC, its general partner
			
		 	By:	 	 /s/ John W. McReynolds

		 		 	John W. McReynolds
		 		 	President and Chief Financial Officer
	
	ENERGY TRANSFER PARTNERS, L.L.C.
			
		 	By:	 	Energy Transfer Equity, L.P, its sole member
				
		 		 	By:	 	LE GP, LLC, its general partner
				
		 		 	By:	 	 /s/ John W. McReynolds

		 		 		 	John W. McReynolds
		 		 		 	President and Chief Financial Officer

 Consent And Agreement To First Amendment To Credit AgreementContribution and Conveyance Agreement

 Exhibit 10.35 
 CONTRIBUTION AND CONVEYANCE AGREEMENT 
 by and among 
 ENERGY TRANSFER PARTNERS, L.P. 
 AND

 ENERGY TRANSFER EQUITY, L.P. 
 (Class G Units) 
 Dated November 1, 2006 

 CONTRIBUTION AND CONVEYANCE AGREEMENT 
 THIS CONTRIBUTION AND CONVEYANCE AGREEMENT, dated November 1, 2006 (this “Agreement”), is made by Energy Transfer Partners, L.P., a
limited partnership formed under the laws of the State of Delaware ( “ETP” or the “Partnership”), on the one hand, and Energy Transfer Equity, L.P., a limited partnership formed under the laws of the State of
Delaware ( “ETE”), on the other hand. 
 WHEREAS, ETP desires to issue to ETE, in exchange for a contribution by ETE of
cash, limited partner interests of the Partnership, consisting of Class G Units (the “Class G Units”), having the characteristics set forth in Amendment No. 10 to the Amended and Restated Agreement of Limited Partnership of the
Partnership (“Amendment No. 10”), a copy of which is attached hereto as Exhibit A. 
 NOW, THEREFORE, in
consideration of the mutual covenants and agreements set forth herein and for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, ETP and ETE hereby agree as follows: 
 ARTICLE I. 
 DEFINITIONS

 Section 1.01 Definitions. As used in this Agreement, and unless the context requires a different meaning, the following
terms have the meanings indicated: 
 “Cash Contribution” shall have the meaning specified in Section 2.01.

 “CCE Purchase Agreement” means the Purchase and Sale Agreement, dated as of September 14, 2006, among the
Partnership and the Class B Members of CCE Holdings, LLC. 
 “Class G Units” shall have the meaning specified in
Section 2.02. 
 “Closing” shall have the meaning specified in Section 2.03. 
 “Closing Date” shall have the meaning specified in Section 2.03. 
 “Common Units” means common units representing limited partnership interests of ETP. 
 “Commission” means the United States Securities and Exchange Commission. 
 “ETP” has the meaning set forth in the introductory paragraph. 
 “Exchange Act” means the Securities Exchange Act of 1934, as amended. 
 “Governmental Authority” means, with respect to a particular Person, the country, state, county, city and political subdivisions in
which such Person, such Person’s Subsidiaries or such Person’s Property is located or which exercises valid jurisdiction over any such Person or such Person’s Property, and any court, agency, department, commission, board, bureau or

 instrumentality of any of them and any monetary authority which exercises valid jurisdiction over any such Person or such
Person’s Property. 
 “Material Adverse Effect” means any event or condition that has had or could reasonably be
expected to (i) have a material adverse effect on the financial condition, results of operations, business or prospects of such party, (ii) result in termination of the CCE Purchase Agreement, (iii) result in a breach or
violation of any representation, warranty, covenant or condition contained in the CCE Purchase Agreement as a result of which a party to the CCE Purchase Agreement has, or with notice, the lapse of time or both, is likely to have, the
right to terminate the CCE Purchase Agreement or (iv) impair or affect adversely such party’s ability to perform its obligations under the Agreement or impair or delay completion of the transactions contemplated hereby or by the
CCE Purchase Agreement. 
 “Person” means any individual, corporation, company, voluntary association, partnership,
joint venture, trust, limited liability company, unincorporated organization or government or any agency, instrumentality or political subdivision thereof, or any other form of entity. 
 “Property” means any interest in any kind of property or asset, whether real, personal or mixed, or tangible or intangible. 

“Securities Act” means the Securities Act of 1933, as amended. 
 “Subsidiary” means, as to any Person, any corporation or other entity of which: (i) such Person or a Subsidiary of such Person is a
general partner or manager; or (ii) at least a majority of the outstanding equity interest having by the terms thereof ordinary voting power to elect a majority of the board of directors or similar governing body of such corporation or other
entity (irrespective of whether or not at the time any equity interest of any other class or classes of such corporation or other entity shall have or might have voting power by reason of the happening of any contingency) is at the time directly or
indirectly owned or controlled by such Person or one or more of its Subsidiaries. 
 “Transwestern” means Transwestern
Pipeline Company, LLC, a Delaware limited liability company. 
 ARTICLE II. 
 CONTRIBUTIONS, ACKNOWLEDGMENTS AND DISTRIBUTIONS 
 Section 2.01
Contribution of Cash to ETP. Subject to the terms and conditions hereof, ETE hereby agrees to contribute, grant, bargain, convey, assign, transfer, set over and deliver to ETP, its successors and assigns, cash in the amount of $1.2 billion
(“Cash Contribution”) as a contribution to the capital of ETP and ETP hereby agrees to accept such Cash Contribution as a contribution to the capital of ETP. 
 Section 2.02 Issuance of Class G Units. Subject to the terms and conditions of this Agreement, ETP agrees to issue to ETE, 26,086,957 Class G Units the “Class G Units”) in exchange for the
contribution of the Cash Contribution by ETE and ETE hereby agrees to accept the Class G Units in exchange for its capital contribution of the Cash Contribution to ETP. The issuance of the Class G Units contemplated hereby will not be registered
with the Securities and 
  

 2 

 Exchange Commission (the “Commission”) under the Securities Act of 1933, as amended (the
“Act”) and the certificates representing such Class G Units shall be issued bearing a restrictive legend thereon in the form of Exhibit B attached hereto. 
 Section 2.03 Closing and Delivery of Class G Units. 
 (a) Subject to the terms and conditions hereof, the closing of the transactions constituting the issuance of the Class G Units and the contribution of the Cash Contribution (the “Closing”) shall take
place at the offices of Vinson & Elkins, L.L.P., counsel to ETE, 1001 Fannin Street, Houston, Texas, at 3:00 p.m. Central Time on November 1, 2006, or such other date, place and time as ETP and ETE may agree (the “Closing
Date”). 
 (b) The Class G Units to be issued to ETE under this Agreement shall be delivered by or on behalf of ETP to ETE at the
Closing in certificated form. 
 (c) The Cash Contribution shall be by payment by wire transfer in immediately available funds to such bank
account of ETP designated by ETP in writing no later than the Business Day immediately preceding the Closing Date. “Business Day” means any day other than (a) a Saturday, Sunday or legal holiday in New York City, or (b) a
day on which the commercial banks in New York City are authorized or required by law or executive order to close. 
 Section 2.04
Conditions to the Closing. 
 (a) ETE’s Conditions. The obligations of ETE to consummate the purchase of its Class G Units shall
be subject to the satisfaction on or prior to the Closing Date of the following conditions (any or all of which may be waived by ETE in writing, in whole or in part, to the extent permitted by applicable Law): 
 (i) the representations and warranties of ETP contained in this Agreement shall be true and correct in all material respects both when made and at and as
of the Closing Date, as if made at and as of such time (except to the extent expressly made as of an earlier date, in which case as of such date), and ETE shall have received an officer’s certificate signed on behalf of ETP to such effect;

 (ii) the execution and delivery by ETP of a Registration Rights Agreement in the form attached hereto as Exhibit C; and

 (iii) all conditions to closing under the CCE Purchase Agreement have been satisfied or waived other than the delivery of closing
items pursuant to Section 2.4 of the CCE Purchase Agreement; 
 (b) ETP’s Conditions. The obligation of ETP to consummate the
issuance of the Class G Units to ETE shall be subject to the satisfaction on or prior to the Closing Date of the following conditions (which may be waived by ETP in writing, in whole or in part, to the extent permitted by applicable Law):

  

 3 

 (i) the representations and warranties of ETE contained in this Agreement shall be true and correct in
all material respects both when made and at and as of the Closing Date, as if made at and as of such time (except to the extent expressly made as of an earlier date, in which case as of such date), and ETP shall have received an officer’s
certificate from ETE signed on behalf of ETE to such effect; 
 (ii) all conditions to closing under the CCE Purchase Agreement have
been satisfied or waived other than the delivery of closing items pursuant to Section 2.4 of the CCE Purchase Agreement; 
 (iii)
payment to ETP of the amount of the Cash Contribution in exchange for the Class G Units; and 
 (iv) the execution and delivery by ETE of
the Registration Rights Agreement. 
 ARTICLE III. 
 REPRESENTATIONS AND WARRANTIES OF ETP 
 ETP represents and warrants to ETE as follows: 
 Section 3.01 Existence. ETP (i) is a limited partnership duly organized, legally existing and in good standing under the laws of the
State of Delaware and (ii) has all requisite power and authority, and has all governmental licenses, authorizations, consents and approvals necessary, to own, lease, use and operate its Properties and carry on its business as its business is
now being conducted, except where the failure to obtain such licenses, authorizations, consents and approvals would not be reasonably likely to have a Material Adverse Effect. 
 Section 3.02 Valid Issuance of Class G Units. ETP has taken all necessary action to approve and adopt Amendment No. 10 as an amendment
to the Amended and Restated Agreement of Limited Partnership of ETP, as amended as of the date of this Agreement (the “Partnership Agreement”) and no approval of the limited partners of ETP is necessary for the approval and adoption
of Amendment No. 10. Amendment No. 10 has been duly executed, delivered and adopted by ETP as an amendment to the Partnership Agreement. ETE, when such Class G Units are delivered as provided in this Agreement, will be entitled to the
rights of a unitholder of limited partner interests of ETP as conferred by the Partnership Agreement, as amended by Amendment No. 10, and applicable law. The issuance of the Class G Units and the limited partner interests represented thereby
have been duly authorized by ETP and, when issued and delivered to ETE against payment therefor in accordance with the terms of this Agreement, will be validly issued, fully paid (to the extent required under the Partnership Agreement) and
nonassessable (except as such nonassessability may be affected by such matters described under the caption “The Partnership Agreement—Limited Liability” in ETP’s Registration Statement on Form S-3 (File No. 333-133174).

 Section 3.03 Authority. ETP has all necessary power and authority to execute, deliver and perform its obligations under this
Agreement; and the execution, delivery and performance by ETP of this Agreement has been duly authorized by all necessary action on its part; and this Agreement constitutes the legal, valid and binding obligations of ETP, enforceable in accordance

  

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 with its terms, except as such enforceability may be limited by bankruptcy, insolvency, fraudulent transfer and similar
laws affecting creditors’ rights generally or by general principles of equity. No approval from the equity owners of ETP is required in connection with the transactions contemplated by this Agreement. 
 Section 3.04 Approvals. No authorization, consent, approval, waiver, license, qualification or written exemption from, nor any filing,
declaration, qualification or registration with, any Governmental Authority or any other Person (each, a “Consent”) is required for the issuance and delivery of the Class G Units being sold by ETP to ETE or in connection with the
execution, delivery or performance by ETP of this Agreement other than Consents that have been obtained. 
 Section 3.05 No
Breach. The execution and delivery of this Agreement, the compliance by ETP with all the provisions of, and the performance by ETP of its obligations under, this Agreement, and the consummation of the transactions contemplated in this Agreement
will not conflict with or result in a breach or violation of any of the terms or provisions of, or constitute a default under, (i) the constitutive documents of ETP, (ii) any instrument, contract or other agreement to which ETP is a party
or by which ETP is bound or to which any of its Properties or assets may be bound or subject, in each case, the breach or violation of which or default under which would be reasonably expected to have a Material Adverse Effect on the ability of ETP
to comply with its obligations hereunder, or (iii) any law or statute or any order, rule or regulation of any Governmental Authority. 
 Section 3.06 Title. Such Class G Units are not subject to any conflicting sale, transfer, assignment, or any agreement (other than this Agreement) to assign, convey, or transfer, in whole or in part, any of such Class G Units,
and upon consummation of such Purchase, ETE will receive good and marketable title to such Class G Units, free and clear of any encumbrance, liens, claims, charges, security interests, or other interests of others, except to the extent of any
encumbrance, lien, claim, charge, security interest or other interest created by ETE. 
 Section 3.07 Legal Proceedings. There
are no legal or governmental proceedings pending to which ETP is a party or of which any property of ETP is the subject that, if determined adversely to ETP, would individually or in the aggregate have a Material Adverse Effect on ETP, and, to the
best of ETP’s knowledge, no such proceedings are threatened or contemplated by any such Governmental Authority or threatened by others. 
 Section 3.08 ETP Commission Documents. ETP has filed with the Commission all forms, registration statements, reports, schedules and statements required to be filed by it under the Exchange Act or the Securities Act within the 18
months prior to the date of this Agreement (all such documents, collectively “ETP Commission Documents”). ETP Commission Documents, including, without limitation, any audited or unaudited financial statements and any notes thereto
or schedules included therein, at the time filed (in the case of registration statements, solely on the dates of effectiveness) (except to the extent corrected by a subsequently filed ETP Commission Document filed prior to the date hereof)
(a) complied as to form in all material respects with applicable accounting requirements and with the published rules and regulations of the Commission with respect thereto, (b) were prepared in accordance with generally accepted
accounting principles applied on a consistent basis during the periods 
  

 5 

 involved (except as may be indicated in the notes thereto or, in the case of unaudited statements, as permitted by the
applicable rules and regulations of the Commission), and (c) fairly present (subject in the case of unaudited statements to normal, recurring and year-end audit adjustments) in all material respects the consolidated financial position and
status of the business of ETP as of the dates thereof and the consolidated results of its operations and cash flows for the periods then ended. 
 Section 3.09 No Material Adverse Changes. Except as disclosed in the documents filed by ETP under the Exchange Act, since the date of ETP’s most recent Form 8-K (to the extent it contains financial results and balance sheet
information) or Form 10-Q filing with the Commission, ETP and its subsidiaries have conducted their respective businesses in the ordinary course, consistent with past practice, and there has been no change, event, occurrence, fact, circumstance or
condition that has had or would be reasonably likely to have a Material Adverse Effect on the assets, liabilities, financial condition, business, operations or affairs of ETP and its subsidiaries, taken as a whole. 
 Section 3.10 CCE Purchase Agreement. The CCE Purchase Agreement is in full force and effect and, to the best knowledge of ETP, no
event or circumstance has occurred or exists as a result of which (i) the closing under the CCE Purchase Agreement will be delayed or (ii) any party to the CCE Purchase Agreement has, or with notice or the lapse of time or both
is likely to have the right to terminate the CCE Purchase Agreement. 
 ARTICLE IV. 
 REPRESENTATIONS AND WARRANTIES OF ETE 
 ETE represents and warrants to ETP as follows: 
 Section 4.01 Existence. ETE (i) is an entity duly organized,
legally existing and in good standing under the laws of its jurisdiction of organization and (ii) has all requisite power and authority, and has all governmental licenses, authorizations, consents and approvals necessary, to own, lease, use and
operate its Properties and carry on its business as its business is now being conducted, except where the failure to obtain such licenses, authorizations, consents and approvals would not be reasonably likely to have a Material Adverse Effect.

 Section 4.02 Authority. ETE has all necessary power and authority to execute, deliver and perform its obligations under this
Agreement; and the execution, delivery and performance by ETE of this Agreement have been duly authorized by all necessary action on its part; and this Agreement constitutes a legal, valid and binding obligations of ETE, enforceable in accordance
with its terms, except as such enforceability may be limited by bankruptcy, insolvency, fraudulent transfer and similar laws affecting creditors’ rights generally or by general principles of equity. No approval from the equity owners of ETE is
required in connection with the transactions contemplated by this Agreement. 
 Section 4.03 Approvals. No authorization,
consent, approval, waiver, license, qualification or written exemption from, nor any filing, declaration, qualification or registration with, any Governmental Authority or any other Person is required in connection with the execution, delivery or
performance by ETE of this Agreement. 
  

 6 

 Section 4.04 No Breach. The execution and delivery of this Agreement by ETE, the compliance
by ETE with all of the provisions of, and the performance by ETE of its obligations under this Agreement and the consummation of the transactions contemplated in this Agreement will not conflict with or result in a breach or violation of any of the
terms or provisions of, or constitute a default under, (A) the constitutive documents of ETE, (B) any instrument, contract or other agreement to which ETE is a party or by which ETE is bound or to which any of its Properties or assets may
be bound or subject, in each case, the breach or violation of which or default under which would be reasonably expected to have a Material Adverse Effect on the ability of ETE to comply with its obligations hereunder, or (C) any law or statute
or any order, rule or regulation of any Governmental Authority and no consent, approval, authorization, order, registration, clearance or qualification or notification of, with or to any such Governmental Authority is required of ETE for the
purchase of the Class G Units by ETE contemplated by this Agreement. 
 Section 4.05 Legal Proceedings. There are no legal
or governmental proceedings pending to which ETE is a party or of which any property of ETE is the subject that, if determined adversely to ETE, would individually or in the aggregate have a Material Adverse Effect on ETE’s ability to perform
its obligations under this Agreement, and, to the best of ETE’s knowledge, no such proceedings are threatened or contemplated by any such Governmental Authority or threatened by others. 
 Section 4.06 Nature of the Investor. ETE (a) is an “accredited investor” as defined in Rule 501(a) of Regulation D promulgated
under the Act, (b) is able to bear the economic risk of losing its entire investment in the Class G Units, and (c) has knowledge and experience in financial and business matters such that it is capable of evaluating the risks and merits of
this investment. 
 Section 4.07 Investment. ETE is acquiring the Class G Units for its own account, and not with a view
to any distribution, resale, subdivision, or fractionalization thereof in violation of the Securities Act or any other applicable domestic securities law, and ETE has no present plans to enter into any contract, undertaking, agreement or arrangement
for any such distribution, resale, subdivision, or fractionalization of the Class G Units. ETE acknowledges and agrees that, based in part upon its representations contained herein and in reliance upon applicable exemptions, the issuance of the
Class G Units has not been registered under the Act or the securities laws of any other domestic or foreign jurisdiction and that accordingly, the Class G Units may not be offered for sale, sold, or otherwise transferred in whole or in part, except
in accordance with the terms of the Partnership Agreement and in compliance with all applicable laws, including securities laws, except that the Class G Units may be pledged in a bona fide transaction. 
 Section 4.08 Receipt of Information. ETE has carefully reviewed the documents filed by ETP with the Commission under the Exchange Act within
the 18 months prior to the date of this Agreement, including ETP’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, current reports on Form 8-K and other filings (the “Partnership Information”) and acknowledges that
ETP has provided to ETE or its representatives all agreements, documents, records and books that ETE or its representatives have requested relating to an investment in ETP. 
  

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 ARTICLE V. 
 COVENANTS 
 Section 5.01 Other Agreements. 
 (a) ETP hereby agrees to prepare and cause to be filed with the Commission a proxy statement providing for the submission for approval of ETP’s
common unitholders a proposal to convert the Class G Units to Common Units on a one-for-one basis as specified in Amendment No. 10 (the “Proxy Statement”). 
 (b) Each party agrees that it will indemnify and hold harmless the other party from and against any and all claims, demands, or liabilities for
broker’s, finder’s, placement, or other similar fees or commissions incurred by such party or alleged to have been incurred by such party in connection with the purchase of the Class G Units or the consummation of the transactions
contemplated by this Agreement. 
 Section 5.02 Information. ETE shall supply such information with respect to itself, its
directors, officers and shareholders as ETP may reasonably request for the purpose of preparation of the Proxy Statement. ETP shall supply to ETE such information with respect to itself, its directors, officers and unitholders, Transwestern and such
other matters as ETE may reasonably request for the purpose of preparation of any notice, form or other documents required to be filed with any Governmental Authority in connection with the transaction contemplated by this Agreement. 
 Section 5.03 Further Assurances. Each party agrees to execute, acknowledge and deliver such further instruments and to do all such other acts
as may be necessary or appropriate to carry out the purposes and intent of this Agreement. 
 ARTICLE VI. 
 MISCELLANEOUS 
 Section 6.01
Interpretation and Survival of Provisions. Article, Section and Exhibit references are to this Agreement, unless otherwise specified. All references to instruments, documents, contracts, and agreements are references to such instruments,
documents, contracts, and agreements as the same may be amended, supplemented, and otherwise modified from time to time, unless otherwise specified. 
 Section 6.02 No Waiver; Modifications in Writing. 
 (a) Delay. No failure or delay on the
part of any party in exercising any right, power, or remedy hereunder shall operate as a waiver thereof, nor shall any single or partial exercise of any such right, power, or remedy preclude any other or further exercise thereof or the exercise of
any right, power, or remedy. The remedies provided for herein are cumulative and are not exclusive of any remedies that may be available to a party at law or in equity or otherwise. 
 (b) Specific Waiver. Except as otherwise provided herein, no amendment, waiver, consent, modification, or termination of any provision of this
Agreement shall be effective unless signed by each of the parties hereto or thereto affected by such amendment, 
  

 8 

 waiver, consent, modification, or termination. Any amendment, supplement or modification of or to any provision of this
Agreement, any waiver of any provision of this Agreement, and any consent to any departure by any party hereto from the terms of any provision of this Agreement shall be effective only in the specific instance and for the specific purpose for which
made or given. 
 Section 6.03 Binding Effect; Assignment. 
 (a) Binding Effect. This Agreement shall be binding upon ETP, ETE, and their respective successors and permitted assigns. Except as expressly
provided in this Agreement, this Agreement shall not be construed so as to confer any right or benefit upon any Person other than the parties to this Agreement, and their respective successors and permitted assigns. 
 (b) Assignment of Class G Units. All or any portion of ETE’s Class G Units purchased pursuant to this Agreement may be sold, assigned or
pledged by ETE, subject to compliance with applicable securities laws. 
 Section 6.04 Assignment of Rights. All or any portion
of the rights and obligations of ETE under this Agreement may not be transferred by ETE without the written consent of ETP. 
 Section 6.05 Costs and Expenses. Each party hereto shall be responsible for the payment of the costs and expenses incurred by it in connection with the negotiation, execution, delivery and performance of this Agreement and the
transactions contemplated hereby. 
 Section 6.06 Notices. All notices and demands provided for hereunder shall be in writing and
shall be given by registered or certified mail, return receipt requested, telecopy, air courier guaranteeing overnight delivery or personal delivery to the following addresses: 
  

	 	(a)	to ETP, at: 

 Energy Transfer Partners, L.P. 

8801 South Yale Avenue, Suite 310 
 Tulsa, Oklahoma 74137 
 Facsimile: 918/493-7290 
 Attention: H. Michael Krimbill 
  

	 	(b)	to ETE, at: 

 Energy Transfer Equity, L.P. 
 2828 Woodside Street 
 Dallas, Texas 75204

 Facsimile: 214/981-0701 
 Attention: John W. McReynolds 
 or to such other address as ETP or ETE may designate in writing. All notices and communications shall be deemed to
have been duly given: at the time delivered by hand, if personally delivered; upon actual receipt if sent by certified mail, return receipt requested, or 
  

 9 

 regular mail, if mailed; when receipt acknowledged, if sent via facsimile; and upon actual receipt when delivered to an
air courier guaranteeing overnight delivery. 
 Section 6.07 Governing Law. This Agreement will be construed in accordance with
and governed by the laws of the State of Delaware without regard to any otherwise applicable principles of conflicts of laws. 
 Section 6.08 Entire Agreement. This Agreement and the other documents referred to herein are intended by the parties as a final expression of their agreement and intended to be a complete and exclusive statement of the agreement
and understanding of the parties hereto in respect of the subject matter contained herein and therein. This Agreement and the other documents referred to herein supersede all prior agreements and understandings between the parties with respect to
such subject matter. 
 Section 6.09 Counterparts. This Agreement may be executed in any number of counterparts and by different
parties hereto in separate counterparts, each of which counterparts, when so executed and delivered, shall be deemed to be an original and all of which counterparts, taken together, shall constitute but one and the same Agreement. 
 Section 6.10 Equitable Relief. Each party hereto agrees that money damages would not be a sufficient remedy for any breach of this Agreement
by either party hereto or their respective Representatives and that the non-breaching party shall be entitled to equitable relief, including injunction and specific performance, in the event of any such breach, in addition to all other remedies
available to the non-breaching party at law or in equity. Each party further agrees to waive any requirement for the securing or posting of any bond in connection with such remedy. 
 [Signature page follows] 
  

 10 

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

			
	ENERGY TRANSFER PARTNERS, L.P.
		
	By:	 	Energy Transfer Partners GP, L.P.,
		 	    Its general partner
	By:	 	Energy Transfer Partners, L.L.C.,
		 	    Its general partner
		
	By:	 	 /s/ H. Michael Krimbill

	Name:	 	H. Michael Krimbill
	Title:	 	President
	
	ENERGY TRANSFER EQUITY, L.P.
		
	By:	 	LE GP, LLC,
		 	    Its general partner
		
	By:	 	 /s/ John W. McReynolds

	Name:	 	John W. McReynolds
	Title:	 	President

 SIGNATURE PAGE TO 
 CONTRIBUTION AND CONVEYANCE AGREEMENT 

 EXHIBIT A 
 AMENDMENT NO. 10 TO PARTNERSHIP AGREEMENT 
  

 EXHIBIT A 

 EXHIBIT B 
 CERTIFICATE LEGEND 
 THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE SECURITIES ACT OF 1933,
AS AMENDED. IT MAY NOT BE SOLD, OFFERED FOR SALE, PLEDGED OR HYPOTHECATED IN THE ABSENCE OF A REGISTRATION STATEMENT IN EFFECT WITH RESPECT TO THE SECURITIES UNDER SUCH ACT OR AN OPINION OF COUNSEL SATISFACTORY TO THE PARTNERSHIP THAT SUCH
REGISTRATION IS NOT REQUIRED. 
  

 EXHIBIT B 

 EXHIBIT C 
 REGISTRATION RIGHTS AGREEMENT 
  

 EXHIBIT C

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