Document:

EX-4.1

 Exhibit 4.1 

 
  

WILLIAMS PARTNERS L.P. 
 And 
 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. 

Trustee 
  

 
 THIRD
SUPPLEMENTAL INDENTURE 
 Dated as of August 14, 2012 

To 
 INDENTURE

 Dated as of November 9, 2010 

 
  

3.35% Senior Notes due 2022 
  

 

 TABLE OF CONTENTS 

 

							
	  	  	Page	 
	 ARTICLE ONE DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION
	  	 	1	  
	Section 101	  	Definitions; Rules of Construction	  	 	1	  
	Section 102	  	Relationship With Base Indenture	  	 	7	  
	Section 103	  	Effect of Headings and Table of Contents	  	 	8	  
	Section 104	  	Successors and Assigns	  	 	8	  
	Section 105	  	Separability Clause	  	 	8	  
	Section 106	  	Governing Law; Waiver of Trial by Jury	  	 	8	  
	Section 107	  	Counterparts	  	 	8	  
		
	ARTICLE TWO THE NOTES	  	 	8	  
	Section 201	  	Establishment, Form and Dating	  	 	8	  
	Section 202	  	Registrar and Paying Agent	  	 	9	  
		
	 ARTICLE THREE LEGAL DEFEASANCE AND COVENANT DEFEASANCE
	  	 	9	  
		
	 ARTICLE FOUR EVENTS OF DEFAULT AND REMEDIES
	  	 	10	  
		
	 ARTICLE FIVE ADDITIONAL COVENANTS
	  	 	10	  
	 Section 501
	  	Limitation on Liens	  	 	10	  
		
	 ARTICLE SIX REDEMPTION OF NOTES
	  	 	11	  
	 Section 601
	  	Optional Redemption	  	 	11	  
			
	 EXHIBIT A
	  	FORM OF NOTE	  			

  
 i 

 This THIRD SUPPLEMENTAL INDENTURE (this “Supplemental Indenture”), dated as
of August 14, 2012, between WILLIAMS PARTNERS L.P., a Delaware limited partnership (the “Company”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., a national banking association, duly organized and validly existing under
the laws of the United States of America, as trustee (the “Trustee”). 
 The Company has heretofore executed
and delivered to the Trustee an Indenture, dated as of November 9, 2010 (the “Base Indenture” and, as supplemented by this Supplemental Indenture, the “Indenture”), between the Company and the Trustee,
providing for the issuance from time to time of one or more series of Securities. 
 The Company has duly authorized the
execution and delivery of this Supplemental Indenture to provide for the issuance of its 3.35% Senior Notes due 2022 (the “Notes”), and the Company and the Trustee agree as follows for the benefit of each other and for the equal and
ratable benefit of the Holders of the Notes. 
 The Company desires and has requested the Trustee to join with it in the
execution and delivery of this Supplemental Indenture in order to supplement the Base Indenture and to replace, where necessary, covenants in the Base Indenture as and to the extent set forth herein to provide for the issuance and the terms of the
Notes. 
 All things necessary to make this Supplemental Indenture a valid and legally binding agreement of the Company, in
accordance with its terms, have been done. 
 NOW, THEREFORE, THIS SUPPLEMENTAL INDENTURE WITNESSETH: 

For and in consideration of the premises and the purchase of the Notes by the Holders thereof, it is mutually covenanted and agreed, for
the equal and proportionate benefit of all Holders of the Notes as follows: 
 ARTICLE ONE 

DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION 
 Section 101 Definitions; Rules of Construction. 
 Except as otherwise expressly
provided in or pursuant to this Supplemental Indenture or unless the context otherwise requires, for all purposes of this Supplemental Indenture: 
 (1) the terms defined in this Article have the meanings assigned to them in this Article, and include the plural as well as the singular; 

(2) all other terms used herein which are defined in the Trust Indenture Act, either directly or by reference therein, have the meanings
assigned to them therein; 
 (3) all accounting terms not otherwise defined herein have the meanings assigned to them in
accordance with generally accepted accounting principles and, except as otherwise herein expressly provided, the terms “generally accepted accounting principles” or “GAAP” with respect to any computation required or permitted
hereunder shall mean such accounting principles as are generally accepted at the date of such computation; 

 (4) the words “herein,” “hereof,” “hereto” and
“hereunder” and other words of similar import refer to this Supplemental Indenture as a whole and not to any particular Article, Section or other subdivision; 
 (5) the word “or” is always used inclusively (for example, the phrase “A or B” means “A or B or both,” not “either A or B but not both”); 

(6) provisions apply to successive events and transactions; 
 (7) any reference to gender includes the masculine, feminine and the neuter, as the case may be; 
 (8) references to agreements and other instruments include subsequent amendments thereto and restatements thereof; 
 (9) “including” means “including without limitation”; 
 (10)
all exhibits are incorporated by reference herein and expressly made a part of this Supplemental Indenture; and 
 (11) all
references to articles, sections and exhibits (and subparts thereof) are to articles, sections and exhibits (and subparts thereof) of this Supplemental Indenture. 
 Certain terms used principally in certain Articles hereof are defined in those Articles. Capitalized terms used but not defined in this Supplemental Indenture shall have the meaning ascribed to them in
the Base Indenture. 
 “Additional Notes” means any additional Notes issued under the Indenture as part of the
same series as the Notes. 
 “Adjusted Treasury Rate” means, with respect to any Redemption Date, the rate per
annum equal to the semi-annual equivalent yield to maturity of the Comparable Treasury Issue, assuming a price for such Comparable Treasury Issue (expressed as a percentage of its principal amount) equal to the related Comparable Treasury Price for
that Redemption Date. 
 “Base Indenture” has the meaning assigned to it in the recitals hereto. 

“Business Entity” has the meaning assigned to it in the definition of “Non-Recourse Subsidiary” in this
Section 101. 
 “Comparable Treasury Issue” means the United States Treasury security selected by the
Quotation Agent as having an actual or interpolated maturity comparable to the remaining term of the Notes being redeemed that would be utilized, at the time of selection and in accordance with customary financial practice, in pricing new issues of
corporate debt securities of comparable maturity to the remaining term of the Notes. 

  
 2 

 “Comparable Treasury Price” means, with respect to any Redemption Date:

 (1) the average of the Reference Treasury Dealer Quotations for that Redemption Date, after excluding the highest and lowest
of the Reference Treasury Dealer Quotations, or 
 (2) if the Quotation Agent obtains fewer than three Reference Treasury Dealer
Quotations, the average of all Reference Treasury Dealer Quotations so received. 
 “Consolidated Net Tangible
Assets” means at any date of determination, the total amount of assets of the Company and its Subsidiaries after deducting therefrom: 
 (1) 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 
 (2) 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 the Company for the Company’s most recently completed fiscal quarter, prepared in accordance with GAAP. 

“Domestic Subsidiary” means any Subsidiary of the Company that is incorporated or organized under the laws of the United
States of America, any state thereof or the District of Columbia. 
 “Global Note” means a certificated Note
deposited with or on behalf of and registered in the name of the Depositary or its nominee, substantially in the form of Exhibit A hereto and that bears the Global Security Legend and that has the “Schedule of Adjustments” attached
thereto. As of the date of this Supplemental Indenture all of the Notes are represented by Global Notes. 
 “Global
Security Legend” means the legend set forth in Section 203 of the Base Indenture and any other legend required by the Depositary. 
 “Indebtedness” means, with respect to any specified Person, any obligation created or assumed by such Person, whether or not contingent, for the repayment of money borrowed from others or
any guarantee thereof. 
 “Indenture” means the Base Indenture, as supplemented by this Supplemental Indenture,
and as may be amended or further supplemented from time to time, pursuant to the applicable provisions of the Base Indenture and this Supplemental Indenture. 
 “Initial Notes” means the first $750,000,000 aggregate principal amount of the Notes issued under the Indenture on the date hereof. 

“International Subsidiary” means each Subsidiary of the Company other than a Domestic Subsidiary. 

  
 3 

 “Lien” means any mortgage, pledge, lien, security interest or other similar
encumbrance. 
 “Non-Recourse Indebtedness” means any Indebtedness incurred by any Joint Venture or
Non-Recourse Subsidiary which does not provide for recourse against the Company or any of its Subsidiaries (other than a Non-Recourse Subsidiary) or any property or assets of the Company or any of its Subsidiaries (other than the Capital Stock or
the properties or assets of a Joint Venture or Non-Recourse Subsidiary). 
 “Non-Recourse Subsidiary” means any
Subsidiary of the Company (1) whose principal purpose is to incur Non-Recourse Indebtedness and/or construct, lease, own or operate the assets financed thereby, or to become a direct or indirect partner, member or other equity participant or
owner in a partnership, limited partnership, limited liability partnership, corporation (including a business trust), limited liability company, unlimited liability company, joint stock company, trust, unincorporated association or joint venture
created for such purpose (collectively, a “Business Entity”), (2) who is not an obligor or otherwise bound with respect to any Indebtedness other than Non-Recourse Indebtedness, (3) substantially all the assets of which
Subsidiary or Business Entity are limited to (x) those assets being financed (or to be financed), or the operation of which is being financed (or to be financed), in whole or in part by Non-Recourse Indebtedness, or (y) Capital Stock in,
or Indebtedness or other obligations of, one or more other Non-Recourse Subsidiaries or Business Entities, and (4) any Subsidiary of a Non-Recourse Subsidiary; provided that such Subsidiary shall be considered to be a Non-Recourse
Subsidiary only to the extent that and for so long as each of the above requirements are met. 
 “Notes” has
the meaning assigned to it in the preamble to this Supplemental Indenture. For purposes of the Indenture, all references to the notes to be issued or authenticated upon transfer, replacement or exchange shall be deemed to refer to Notes. In
addition, unless the context otherwise requires, all references to the “Notes” shall include the Initial Notes and any Additional Notes. 
 “Outstanding Notes” means any Notes that are Outstanding Securities. 
 “Permitted International Debt” means Indebtedness of any International Subsidiary for which neither the Company nor any Domestic Subsidiary, directly or indirectly, provides any guarantee
or other credit support and which is secured, if at all, only by pledges of or Liens on assets (i) held by an International Subsidiary on the date of this Supplemental Indenture, (ii) acquired by an International Subsidiary from a Person
not constituting an Affiliate of the Company or (iii) acquired by an International Subsidiary from the Company, any Domestic Subsidiary or other Affiliate of the Company on terms that, in the good faith judgment of the Company’s Board of
Directors, are no less favorable to the Company or the relevant Domestic Subsidiary or other Affiliate of the Company than those that would have been obtained in a comparable transaction by the Company or such Domestic Subsidiary or other Affiliate
of the Company with an unrelated Person or, if in the good faith judgment of the Company’s Board of Directors, no comparable transaction is available with which to compare such transaction, such transaction is otherwise fair to the Company or
the relevant Domestic Subsidiary or other Affiliate of the Company from a financial point of view. 

  
 4 

 “Permitted Liens” means: 

(1) any Lien existing on any property at the time of the acquisition thereof and not created in contemplation of such acquisition by the
Company or any of its Subsidiaries, whether or not assumed by the Company or any of its Subsidiaries; 
 (2) any Lien existing
on any property of a Subsidiary of the Company at the time it becomes a Subsidiary of the Company and not created in contemplation thereof and any Lien existing on any property of any Person at the time such Person is merged or liquidated into or
consolidated with the Company or any Subsidiary thereof and not created in contemplation thereof; 
 (3) purchase money and
analogous Liens incurred in connection with the acquisition, development, construction, improvement, repair, or replacement of property (including such Liens securing Indebtedness incurred within 12 months of the date on which such property was
acquired, developed, constructed, improved, repaired or replaced); provided that all such Liens attach only to the property acquired, developed, constructed, improved, repaired or replaced and the principal amount of the Indebtedness secured
by such Lien shall not exceed the gross cost of the property; 
 (4) any Liens created or assumed to secure Indebtedness of the
Company or any Subsidiary of the Company maturing within 12 months of the date of creation thereof and not renewable or extendible by the terms thereof at the option of the obligor beyond such 12 months; 

(5) Liens on accounts receivable and related proceeds thereof arising in connection with a receivables financing and any Lien held by the
purchaser of receivables derived from property or assets sold by the Company or any Subsidiary thereof and securing such receivables resulting from the exercise of any rights arising out of defaults on such receivables; 

(6) leases constituting Liens existing on or after the date hereof and any renewals or extensions thereof; 

(7) any Lien securing industrial development, pollution control or similar revenue bonds; 

(8) Liens existing on the date hereof; 
 (9) Liens in favor of the Company or any of its Subsidiaries; 
 (10) Liens
securing Indebtedness incurred to refund, extend, refinance or otherwise replace Indebtedness (“Refinanced Indebtedness”) secured by a Lien permitted to be incurred under the Indenture; provided that the principal amount of
such Refinanced Indebtedness does not exceed the principal amount of Indebtedness refinanced (plus the amount of penalties, premiums, fees, accrued interest and reasonable expenses incurred therewith) at the time of refinancing; 

(11) Liens on any assets or properties, or pledges of the Capital Stock, of (a) any Joint Venture owned by the Company or any of its
Subsidiaries or (b) any Non-Recourse Subsidiary, in each case only to the extent securing Non-Recourse Indebtedness of such Joint Venture or Non-Recourse Subsidiary; 

  
 5 

 (12) Liens on the products and proceeds (including insurance, condemnation and eminent
domain proceeds) of and accessions to, and contract or other rights (including rights under insurance policies and product warranties) derivative of or relating to, property permitted by the Indenture to be subject to Liens but subject to the same
restrictions and limitations set forth in the Indenture as to Liens on such property (including the requirement that such Liens on products, proceeds, accessions, and rights secure only obligations that such property is permitted to secure);

 (13) any Liens securing Indebtedness neither assumed nor guaranteed by the Company or a Subsidiary of the Company nor on
which the Company or a Subsidiary of the Company customarily pays interest, existing upon real estate or rights in or relating to real estate (including rights-of-way and easements) acquired by the Company or such Subsidiary, which mortgage Liens do
not materially impair the use of such property for the purposes for which it is held by the Company or such Subsidiary; 
 (14)
any Lien existing or hereafter created on any office equipment, data processing equipment (including computer and computer peripheral equipment), or transportation equipment (including motor vehicles, aircraft, and marine vessels); 

(15) undetermined Liens and charges incidental to construction or maintenance; 

(16) any Lien created or assumed by the Company or a Subsidiary of the Company on oil, gas, coal, or other mineral or timber property
owned by the Company or a Subsidiary of the Company; 
 (17) any Lien created by the Company or a Subsidiary of the Company on
any contract (or any rights thereunder or proceeds therefrom) providing for advances by the Company or such Subsidiary to finance gas exploration and development, which Lien is created to secure Indebtedness incurred to finance such advances;

 (18) any Lien granted in connection with a cash collateralization or similar arrangement to secure obligations of the Company
or of any of the Company’s Subsidiaries to issuing banks in connection with letters of credits issued at the request of the Company or any Subsidiary of the Company; 
 (19) Liens on cash deposits in the nature of a right of setoff, banker’s lien, counterclaim or netting of cash amounts owed arising in the ordinary course of business on deposit accounts; 

(20) Liens securing Permitted International Debt; 
 (21) Liens not otherwise permitted so long as the aggregate outstanding principal amount of the Indebtedness secured thereby does not exceed $10,000,000 at any time; and 

(22) Liens occurring in, arising from, or associated with Specified Escrow Arrangements. 

“Primary Treasury Dealer” has the meaning assigned to it in the definition of “Reference Treasury Dealers” in
this Section 101. 

  
 6 

 “Quotation Agent” means the Reference Treasury Dealer appointed as such
agent by the Company. 
 “Reference Treasury Dealer Quotations” means, with respect to any Reference Treasury
Dealer and any Redemption Date, the average, as determined by the Quotation Agent, of the bid and asked prices for the Comparable Treasury Issue (expressed in each case as a percentage of its principal amount) quoted in writing to the Quotation
Agent by that Reference Treasury Dealer at 5:00 p.m., New York City time, on the third Business Day preceding that Redemption Date. 
 “Reference Treasury Dealers” means (1) UBS Securities LLC, RBS Securities Inc., Wells Fargo Securities, LLC and their successors, unless any of such entities ceases to be a primary
U.S. Government securities dealer in the United States (a “Primary Treasury Dealer”), in which case the Company shall substitute another Primary Treasury Dealer; and (2) any two other Primary Treasury Dealers selected by the
Company. 
 “Refinanced Indebtedness” has the meaning assigned to it in the definition of “Permitted
Liens” in this Section 101. 
 “Specified Escrow Arrangements” means cash deposits at one or more
financial institutions for the purpose of funding any potential shortfall in the daily net cash position of the Company or any of its Subsidiaries. 
 “Stated Maturity” means August 15, 2022. 

“Supplemental Indenture” has the meaning assigned to it in the preamble hereto. 

Section 102 Relationship With Base Indenture 
 The terms and provisions contained in the Base Indenture shall constitute, and are hereby expressly made, a part of this Supplemental Indenture and the Company and the Trustee, by their execution and
delivery of this Supplemental Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of the Base Indenture conflicts with the express provisions of this Supplemental Indenture, the
provisions of this Supplemental Indenture shall govern and be controlling. 
 The Trustee accepts the amendment of the Base
Indenture effected by this Supplemental Indenture and agrees to execute the trust created by the Base Indenture as hereby amended, but only upon the terms and conditions set forth in the Base Indenture, including the terms and provisions defining
and limiting the liabilities and responsibilities of the Trustee in the performance of the trust created by the Base Indenture, and without limiting the generality of the foregoing, the Trustee shall not be responsible in any manner whatsoever for
or with respect to any of the recitals or statements contained herein, all of which recitals or statements are made solely by the Company, or for or with respect to (1) the validity or sufficiency of this Supplemental Indenture or any of the
terms or provisions hereof, (2) the proper authorization hereof by the Company, (3) the due execution hereof by the Company or (4) the consequences (direct or indirect and whether deliberate or inadvertent) of any amendment herein
provided for, and the Trustee makes no representation with respect to any such matters. 

  
 7 

 Section 103 Effect of Headings and Table of Contents. 

The Article and Section headings in this Supplemental Indenture and the Table of Contents herein are for convenience only and shall not
affect the construction hereof. 
 Section 104 Successors and Assigns. 
 All covenants and agreements in this Supplemental Indenture by the Company shall bind its successors and assigns, whether so expressed or not. 
 Section 105 Separability Clause. 
 In case any provision in this Supplemental
Indenture or the Notes shall be invalid, illegal or unenforceable, the validity, legality and enforceability of the remaining provisions shall not in any way be affected or impaired thereby. 
 Section 106 Governing Law; Waiver of Trial by Jury. 
 This Supplemental Indenture
and the Notes shall be governed by and construed in accordance with the laws of the State of New York applicable to agreements made or instruments entered into and, in each case, performed in said state. Each of the Company and the Trustee hereby
irrevocably waives, to the fullest extent permitted by applicable law, any and all right to trial by jury in any legal proceeding arising out of or relating to this Supplemental Indenture, the Notes or the transactions contemplated hereby.

 Section 107 Counterparts. 
 This Supplemental Indenture may be executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument. 

ARTICLE TWO 
 THE
NOTES 
 Section 201 Establishment, Form and Dating. 
 There is hereby established a new series of Securities to be issued under the Base Indenture, to be designated as the Company’s 3.35% Senior Notes due 2022. 

There are to be authenticated and delivered $750,000,000 principal amount of Notes, and such principal amount of Notes may be increased
from time to time pursuant to Section 301 of the Base Indenture by the issuance of Additional Notes. Any such Additional Notes will have the same interest rate, maturity and other terms as the Initial Notes, except for their issue price and, if
applicable, the initial interest accrual date and the initial Interest Payment Date, and shall constitute a single series of Securities with the Initial Notes. No Notes shall be authenticated and delivered in addition to Notes for the principal
amount as so increased except as provided by Sections 304, 305, 306, 906 or 1107 of the Base Indenture. The Notes shall be senior debt securities and shall be issued in fully registered form. 

  
 8 

 The Notes and the Trustee’s certificate of authentication with respect thereto will be
substantially in the form of Exhibit A hereto. The Notes may have notations, legends or endorsements required by law, stock exchange rule or usage. Each Note will be dated the date of its authentication, and except as provided in Section 305 of
the Base Indenture, will be issued in the form of one or more Global Notes. The principal of, and any premium or interest on, the Notes shall be payable in Dollars. The Notes shall be in denominations of $2,000 and integral multiples of $1,000 in
excess thereof. 
 The terms and provisions contained in the Notes will constitute, and are hereby expressly made, a part of the
Indenture and the Company and the Trustee, by their execution and delivery of the Indenture, expressly agree to such terms and provisions and to be bound thereby. However, to the extent any provision of any Note conflicts with the express provisions
of the Indenture, the provisions of the Indenture shall govern and be controlling. 
 Section 202 Registrar and Paying Agent. 

The Company will maintain a Registrar and Paying Agent with respect to the Notes. The Registrar will keep a Security Register with
respect to the Notes and of their transfer and exchange. 
 The Company initially appoints The Depository Trust Company to act
as Depositary with respect to the Global Notes. 
 The Company initially appoints the Trustee to act as the Registrar and Paying
Agent and to act as custodian for the Depositary with respect to the Global Notes. 
 ARTICLE THREE 

LEGAL DEFEASANCE AND COVENANT DEFEASANCE 
 Legal defeasance of the Notes under clause (2) of Section 402 of the Base Indenture and covenant defeasance of the Notes under clause (3) of Section 402 of the Base Indenture shall be
applicable to the Notes, and the Company may at its option by Board Resolution, at any time, with respect to the Notes, elect to have Section 402(2) or Section 402(3) of the Base Indenture be applied to the Outstanding Notes upon
compliance with the conditions set forth in Section 402 of the Base Indenture. In addition to Section 801 of the Base Indenture, Section 501 of this Supplemental Indenture shall be subject to covenant defeasance under
Section 402(3) of the Base Indenture. 

  
 9 

 ARTICLE FOUR 
 EVENTS OF DEFAULT AND REMEDIES 
 For purposes of the Notes (but not any other
Securities, unless provided by the terms thereof), paragraph (4) of Section 501 of the Base Indenture is hereby amended and restated in its entirety to read as follows: 
 “(4) failure on the part of the Company duly to observe or perform any other of the covenants or agreements (other than those described in clause (1), (2) or (3) above) on the part of the
Company with respect to that series contained in such Securities or otherwise established with respect to that series of Securities pursuant to Section 301 hereof or contained in this Indenture (other than a covenant or agreement which has been
expressly included in this Indenture solely for the benefit of one or more series of Securities other than such series), which failure continues for a period of 60 days, or in the case of such a failure with respect to Section 704 of this
Indenture, 90 days, after the date on which written notice of such failure, requiring the same to be remedied and stating that such notice is a “Notice of Default” shall have been given to the Company by the Trustee, upon direction of
Holders of at least 25% in principal amount of the then Outstanding Securities of that series; provided, however, that if such failure is not capable of cure within such 60-day or 90-day period, as the case may be, such 60-day or
90-day period, as the case may be, shall be automatically extended by an additional 60 days so long as (i) such failure is subject to cure, and (ii) the Company is using commercially reasonable efforts to cure such failure; and
provided, further, that a failure to comply with any such other agreement in the Indenture that results from a change in GAAP shall not be deemed to be an Event of Default with respect to the Securities of that series;” 

ARTICLE FIVE 

ADDITIONAL COVENANTS 
 The Notes shall be subject to the following covenant in addition to the provisions of Article Ten of the Base Indenture (provided that Section 1004 of the Base Indenture shall not be
applicable to the Notes): 
 Section 501 Limitation on Liens. 
 The Company shall not, and shall not permit any Subsidiary of the Company to, issue, assume, or guarantee any Indebtedness secured by a Lien, other than Permitted Liens, upon any property of the Company
or any of its Subsidiaries, owned on the date of the Indenture or thereafter acquired, unless the Notes are equally and ratably secured with such Indebtedness until such time as such Indebtedness is no longer secured by such a Lien. 

Notwithstanding the preceding paragraph, the Company may, and may permit any Subsidiary of the Company to, issue, assume or guarantee any
Indebtedness secured by a Lien, other than a Permitted Lien, upon any property of the Company or any of its Subsidiaries, without securing the Notes, provided that the aggregate principal amount of all Indebtedness of the Company and any
Subsidiary of the Company then outstanding secured by any such Liens (other than Permitted Liens) does not exceed 15% of Consolidated Net Tangible Assets. 

  
 10 

 ARTICLE SIX 
 REDEMPTION OF NOTES 
 Section 601 Optional Redemption. 

The Notes may be redeemed, in whole or in part, at the option of the Company pursuant to the terms set forth in the first and second
paragraphs of Section 2 of the Notes. In the case of a redemption pursuant to the first paragraph of Section 2 of the Notes, the Company shall give the Trustee notice of the Redemption Price promptly after the determination thereof and the
Trustee shall have no responsibility for determining such Redemption Price. Other than as specifically provided in this Section 601 or Section 2 of the Notes, any redemption pursuant to this Section 601 will be made pursuant to the
provisions of Article Eleven of the Base Indenture. 
 [Remainder of page intentionally left blank] 

  
 11 

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

			
	WILLIAMS PARTNERS L.P.
	
	By: Williams Partners GP LLC, its General Partner
		
	By:	 	 
	Name:	 	
	Title:	 	

  

			
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Trustee
		
	By:	 	 
	Name:	 	
	Title:	 	

 EXHIBIT A 
 [Face of the Note] 
 CUSIP: 96950F AJ3 

ISIN: US96950FAJ30 

3.35% Senior Note due 2022 
  

			
	No.         	  	$                    

 WILLIAMS PARTNERS L.P. 
 promises to pay to [CEDE & Co.]1 or registered assigns, 
 the principal sum of
                                     DOLLARS [or such greater
or lesser amount as is indicated on the Schedule of Adjustments attached hereto]2 on August 15, 2022. 
 Interest Payment Dates: February 15 and August 15

 Regular Record Dates: February 1 and August 1 (whether or not a Business Day) 

Dated:                      

 

			
	WILLIAMS PARTNERS L.P.
	
	By: Williams Partners GP LLC, its General Partner
		
	By:	 	 
		 	Name:
		 	Title:

 This is one of the Notes referred to 
 in the within-mentioned Indenture: 
 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., 

    as Trustee 
  

			
	By:	 	 
		 	Authorized Signatory

  
  

	1 	 Insert in Global Notes only 

	2 	 Insert in Global Notes only 

  
 A-1

 [THIS DEBT SECURITY IS A GLOBAL SECURITY WITHIN THE MEANING OF THE INDENTURE HEREINAFTER REFERRED TO AND IS
REGISTERED IN THE NAME OF A DEPOSITARY OR A NOMINEE THEREOF. THIS DEBT SECURITY MAY NOT BE TRANSFERRED TO, OR REGISTERED OR EXCHANGED FOR SECURITIES REGISTERED IN THE NAME OF, ANY PERSON OTHER THAN THE DEPOSITARY OR A NOMINEE THEREOF AND NO SUCH
TRANSFER MAY BE REGISTERED, EXCEPT IN THE LIMITED CIRCUMSTANCES DESCRIBED IN THE INDENTURE. EVERY DEBT SECURITY AUTHENTICATED AND DELIVERED UPON REGISTRATION OF TRANSFER OF, OR IN EXCHANGE FOR OR IN LIEU OF, THIS DEBT SECURITY SHALL BE A GLOBAL
SECURITY SUBJECT TO THE FOREGOING, EXCEPT IN SUCH LIMITED CIRCUMSTANCES. 
 UNLESS THIS GLOBAL SECURITY IS PRESENTED BY AN
AUTHORIZED REPRESENTATIVE OF THE DEPOSITORY TRUST COMPANY, A NEW YORK CORPORATION (“DTC”), TO WILLIAMS PARTNERS L.P. OR ITS AGENT FOR REGISTRATION OF TRANSFER, EXCHANGE OR PAYMENT, AND ANY CERTIFICATE 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 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 OWNED HEREOF, CEDE & CO., HAS AN INTEREST HEREIN.]3 
  

 

	3 	 Insert in Global Notes only. 

  
 A-2

 [Reverse of the Note] 
 WILLIAMS PARTNERS L.P. 
 3.35% Senior Note due 2022 

1. GENERAL 

This Note is one of a duly authorized issue of Securities of the Company (the “Securities”), issued and issuable in one
or more series under an Indenture, dated as of November 9, 2010, (the “Base Indenture”), between the Company and The Bank of New York Mellon Trust Company, N.A., as Trustee (the “Trustee,” which term includes any
successor trustee under the Base Indenture), to which Base Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights, limitation of rights, duties and immunities thereunder of the Company,
the Trustee and the Holders of the Securities issued thereunder and of the terms upon which said Securities are, and are to be, authenticated and delivered. This Note is one of the series designated on the face hereof as 3.35% Senior Notes due 2022
(the “Notes”) which was issued under the Third Supplemental Indenture to the Indenture dated as of August 14, 2012 (the “Supplemental Indenture”, together with the Base Indenture, the
“Indenture”) and which is initially limited to $750,000,000 in principal amount. Capitalized terms used herein for which no definition is provided herein shall have the meanings set forth in the Indenture. 

The Company promises to pay interest on the principal amount of this Note at the rate of 3.35% per annum from [Insert for Initial
Notes—“August 14, 2012”] until the Stated Maturity, unless earlier repurchased, redeemed or otherwise cancelled. The Company will pay interest semiannually on February 15 and August 15 of each year (each an
“Interest Payment Date”). Interest on the Notes will accrue from the most recent Interest Payment Date on which interest has been paid or duly provided for or, if no interest has been paid or duly provided for, from [Insert for
Initial Notes—“August 14, 2012”]; provided that if there is no existing default in the payment of interest, and if this Note is authenticated between a regular record date set forth on the face hereof (each a
“Regular Record Date”) and the next succeeding Interest Payment Date, interest shall accrue from such next succeeding Interest Payment Date; provided, further, that the first Interest Payment Date shall be [Insert
for Initial Notes—“February 15, 2013”] and interest accrued from [Insert for Initial Notes—“August 14, 2012”] shall be payable on such date. The interest so payable, and punctually paid or duly provided for,
on any Interest Payment Date will, as provided in the Indenture, be paid to the Person in whose name this Note is registered at the close of business on the Regular Record Date next preceding such Interest Payment Date. Except as otherwise provided
in the Indenture, any such interest not so punctually paid or duly provided for will forthwith cease to be payable to the Holder on such Regular Record Date and may either be paid to the Person in whose name this Note is registered at the close of
business on a Special Record Date for the payment of such defaulted interest to be fixed by the Trustee, notice whereof shall be given to the Holders of the Notes not less than 10 days prior to such Special Record Date, or be paid at any time in any
other lawful manner not inconsistent with the requirements of any securities exchange, if any, on which the Notes shall be listed, and upon such notice as may be required by any such exchange, all as more fully provided in the Indenture. Payments of
interest on the Notes will include interest accrued to but excluding the respective Interest Payment Dates. 

  
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 Further, the Company shall pay interest on overdue principal and premium, if any, from time
to time on demand at a rate of 3.35% per annum; it shall pay interest on overdue installments of interest (without regard to any applicable grace periods) from time to time on demand at the same rate to the extent lawful. Interest will be
computed on the basis of a 360-day year of twelve 30-day months. 
 If an Interest Payment Date, the Stated Maturity or a
Redemption Date falls on a day that is not a Business Day, payment of principal, premium, if any, and interest due on that date shall be made on the next following day that is a Business Day and no interest shall accrue for the period from and after
the Interest Payment Date, Stated Maturity or such Redemption Date, as the case may be, on the payment so deferred. 
 2.
OPTIONAL REDEMPTION 
 The Notes are subject to redemption upon not less than 30 or more than 60 days’ notice to the
Holders of the Notes to be redeemed as provided in the Indenture, at any time or from time to time prior to May 15, 2022, as a whole or in part, at the election of the Company, at a Redemption Price equal to the greater of: (i) 100% of the
principal amount of the Notes being redeemed, plus accrued interest to the Redemption Date and (ii) as determined by the Quotation Agent, the sum of the present values of the remaining scheduled payments of principal of and interest on the
Notes to be redeemed (not including any portion of payments of interest accrued as of the Redemption Date) discounted to the Redemption Date on a semiannual basis (assuming a 360-day year consisting of twelve 30-day months) at the Adjusted Treasury
Rate, plus 25 basis points plus accrued interest to the Redemption Date. 
 In addition, the Notes are subject to redemption
upon not less than 30 or more than 60 days’ notice to the Holders of the Notes to be redeemed as provided in the Indenture, at any time or from time to time on or after May 15, 2022, as a whole or in part, at the election of the Company,
at a Redemption Price equal to 100% of the principal amount of the Notes being redeemed, plus accrued interest to the Redemption Date 
 If less than all the Notes are to be redeemed, selection of Notes for redemption will be made [Insert for Global Notes – by the Depositary by lot or other means in accordance with the
Depositary’s procedures] [Insert for a Definitive Security—by the Trustee in such manner as it shall deem appropriate and fair]. Unless the Company defaults in payment of such Redemption Price, from and after the Redemption Date,
the Notes or portions thereof called for redemption will cease to bear interest, and the Holders thereof will have no right in respect of such Notes except the right to receive the Redemption Price thereof. 

3. DEFEASANCE 

The Indenture contains provisions for defeasance of (a) the entire indebtedness of this Note and (b) certain restrictive
covenants upon compliance by the Company with certain conditions set forth therein. 

  
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 4. DEFAULTS AND REMEDIES 

If an Event of Default with respect to the Notes shall occur and be continuing, the principal of the Notes may be declared due and
payable, or in the circumstances described in the Indenture, shall automatically become due and payable, in the manner and with the effect provided in the Indenture. At any time after such declaration of acceleration or automatic acceleration with
respect to the Notes has been made or has occurred, but before a judgment or decree for payment of money has been obtained by the Trustee as provided in the Indenture, if all Events of Default with respect to the Notes have been cured or waived
(other than the non-payment of principal of the Notes which has become due solely by reason of such declaration of acceleration or automatic acceleration) and certain other conditions have been complied with, then and in every such case, the Holders
of a majority in aggregate principal amount of the Outstanding Notes may, by written notice to the Company and to the Trustee, rescind and annul such declaration or automatic acceleration and its consequences on behalf of all of the Holders of
Notes, but no such rescission or annulment shall extend to or affect any subsequent default or impair any right consequent thereon. 
 As provided in and subject to the provisions of the Indenture, the Holder of this Note shall not have the right to institute any proceeding, judicial or otherwise, with respect to the Indenture, or for
the appointment of a receiver or trustee or for any other remedy thereunder, unless (a) such Holder shall have previously given the Trustee written notice of a continuing Event of Default with respect to the Notes, (b) (i) in the case
of an Event of Default specified in clause (1), (2), (5) or (6) of Section 501 of the Indenture, Holders of not less than 25%, or (ii) in the case of an Event of Default specified in clause (3) or (4) of
Section 501 of the Indenture, Holders of not less than a majority, in aggregate principal amount of the Outstanding Notes shall have made written request to the Trustee to institute proceedings in respect of such Event of Default in its own
name as Trustee hereunder, (c) such Holders shall have offered the Trustee indemnity satisfactory to the Trustee against the costs, expenses and liabilities to be incurred in compliance with such request, (d) for 60 days after its receipt
of such notice, the Trustee shall not have received from the Holders of a majority in principal amount of the Notes at the time Outstanding under the Indenture a direction inconsistent with such request, and (e) the Trustee for 60 days after
its receipt of such notice, request and offer of indemnity shall have failed to institute any such proceeding. The foregoing shall not apply to certain suits described in the Indenture, including any suit instituted by the Holder of this Note for
the enforcement of any payment of principal hereof or any premium or interest hereon on or after the respective due dates expressed or provided for herein. 
 5. NONIMPAIRMENT 
 No reference herein to the Indenture and no provision of this
Note or of the Indenture shall alter or impair the obligation of the Company, which is absolute and unconditional, to pay the principal of (and premium, if any) and interest, if any, on this Note at the times, place and rate, and in the coin or
currency, herein prescribed. 
 6. DENOMINATIONS; TRANSFER AND EXCHANGE 

The Notes are in registered form in denominations of $2,000 and integral multiples of $1,000 in excess thereof. The transfer of Notes may
be registered and Notes may be exchanged as provided in the Indenture. The Registrar and the Trustee may require a Holder, 

  
 A-5

 
among other things, to furnish appropriate endorsements and transfer documents and the Company may require a Holder to pay any taxes and fees required by law or permitted by the Indenture. The
Company need not exchange or register the transfer of any Note or portion of a Note selected for redemption, except for the unredeemed portion of any Note being redeemed in part. 

7. SUCCESSOR OBLIGORS 
 When a successor assumes all the obligations of its predecessor under the Notes and the Indenture in accordance with the terms of the Indenture, the predecessor will be released from those obligations,
except in the case of a lease. 
 8. TRUSTEE DEALINGS WITH THE COMPANY 

The Trustee under the Indenture, in its individual or any other capacity, may become the owner or pledgee of Notes and may otherwise deal
with the Company, its Subsidiaries or their respective Affiliates as if it were not the Trustee. 
 9. AUTHENTICATION

 This Note will not be valid until authenticated by the manual signature of the Trustee or an Authenticating Agent.

 10. NO RECOURSE AGAINST OTHERS 
 The owners of the Company’s Capital Stock, the General Partner and its directors, officers, and members will not be liable for the Company’s obligations under the Note, the Indenture or for any
claim based on, or in respect of, such obligations. By accepting a Note, each Holder of that Note will have agreed to Section 108 of the Supplemental Indenture and waived and released any such liability on the part of the owners of the
Company’s Capital Stock, the General Partner and its directors, officers, and members. The waiver and release are part of the consideration for issuance of the Notes. 
 Notwithstanding the foregoing, nothing in the preceding paragraph shall be construed to modify or supersede any obligation of the General Partner to restore any negative balance in its capital account
(maintained by the Company pursuant to the Limited Partnership Agreement) upon liquidation of its interest in the Company. 

11. CUSIP NUMBERS 
 Pursuant to a recommendation promulgated by the Committee on Uniform Note Identification Procedures, the Company will cause CUSIP numbers to be printed on the Notes as a convenience to the Holders of
Notes. 

  
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 12. GOVERNING LAW 
 This Note shall be governed by and construed in accordance with the laws of the State of New York applicable to agreements made or instruments entered into and, in each case, performed in said state.

 13. AMENDMENT, SUPPLEMENT AND WAIVER 
 Subject to certain exceptions, the Indenture or the Notes may be supplemented by an indenture or indentures supplemental to the Indenture with the consent of the Holders of not less than a majority in
aggregate principal amount of the Notes affected by such supplemental indenture (including consents obtained in connection with a purchase of, or tender offer or exchange offer for, Notes) and any existing default or Event of Default with respect to
the Notes may be waived with the consent of the Holders of not less than a majority in aggregate principal amount of the Outstanding Notes, except a continuing default in the payment of the principal of, or any premium or interest on the Notes, or
in respect of a covenant or provision of the Indenture which cannot be modified or amended without the consent of the Holder of each Outstanding Note. Without the consent of any Holder of Notes, the Company and the Trustee, at any time and from time
to time, may enter into one or more supplemental indentures as provided in the Indenture, subject to the exceptions set forth therein. 
 [Remainder of page intentionally left blank] 

  
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 SCHEDULE A 

[SCHEDULE OF ADJUSTMENTS]4 
  

									
	 Date Adjustment Made
	  	Principal
Amount
Increase	  	Principal
Amount
Decrease	  	Principal
Amount
Following
Adjustment	  	Notification
Made on Behalf
of the Trustee
		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

		  		  		  		  	
	  
	  	  
	  	  
	  	  
	  	  

  
  

	4 	 Insert in Global Notes only 

  
 A-8exhibit_4-2.htm

EXHIBIT 4.2

 

 

 

Appendix A-1

 

Subscription Agreement

 

THE SHARES DESCRIBED IN THIS AGREEMENT HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION UNDER THE SECURITIES ACT IN RELIANCE UPON ONE OR MORE EXEMPTIONS FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT. IN ADDITION, THE ISSUANCE OF THE SHARES HAS NOT BEEN QUALIFIED UNDER ANY STATE SECURITIES LAWS (COLLECTIVELY, "STATE ACTS"), IN RELIANCE UPON ONE OR MORE EXEMPTIONS FROM THE REGISTRATION PROVISIONS OF THE STATE ACTS. IT IS UNLAWFUL TO CONSUMMATE A SALE OR OTHER TRANSFER OF THE SHARES OR ANY INTEREST IN THE SHARES TO, OR TO RECEIVE ANY CONSIDERATION FOR THE SHARES FROM ANY PERSON OR ENTITY, WITHOUT THE OPINION OF COUNSEL FOR BMC CAPITAL (THE "COMPANY") THAT THE PROPOSED SALE OR OTHER TRANSFER OF THE SECURITIES DOES NOT AFFECT THE AVAILABILITY TO THE COMPANY OF SUCH EXEMPTIONS FROM REGISTRATION AND QUALIFICATION, AND THAT SUCH PROPOSED SALE OR OTHER TRANSFER IS IN COMPLIANCE WITH ALL APPLICABLE STATE AND FEDERAL SECURITIES LAWS. THE COMPANY MAY, IN ITS DISCRETION, WAIVE THE REQUIREMENT FOR SUCH A LEGAL OPINION.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

  

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BMC Capital, Inc.

 

SUBSCRIPTION AGREEMENT

 

This Agreement is entered into effective as of _________________________, hereinafter the "Effective Date", by BMC Capital, Inc. and Subscriber. Capitalized terms used but not otherwise defined in the main body of this Agreement are defined Appendix A, which is attached and incorporated into this Agreement by reference.

 

Recitals

 

A.      Subscriber desires to purchase and receive from BMC Capital, Inc. and BMC Capital, Inc. desires to issue and sell to Subscriber, the Shares in consideration of Subscriber's payment of the Purchase Price to American Escrow Company (for the benefit of BMC Capital, Inc.) pursuant to the terms of this Agreement.

 

B.      In connection with Subscriber's purchase of the Shares, Subscriber agrees to be bound by the terms of BMC Capital, Inc.'s governing documents. Based upon the above recitals and the mutual promises in the Agreement, the Parties agree as follows:

 

Article 1

 

Issuance and Sale of Shares and Warrants

 

1.01. Effective as of the Closing Date, BMC Capital, Inc. issues, sells, transfers, and assigns to Subscriber, and Subscriber irrevocably subscribes for, the Shares in consideration of Subscriber's payment of the Purchase Price and BMC Capital, Inc.'s disbursement to itself of the purchase Price from escrow on the Closing Date, as further described in Article 2 of this Agreement, and for other good and valuable consideration. For each two Shares subscribed, Subscriber will also receive (for no additional consideration) a Warrant to purchase one Share, and having an exercise price of $0.19 per share. Each such Warrant will be exercisable until the later of: (a) six months following the date of BMC Capital's initial public offering pursuant to an effective registration statement under the Securities Act of 1933, as amended, covering the offer and sale of BMC Capital's Common Stock to the public; or (b) six months following the date as of which BMC Capital becomes a reporting company through a reverse merger, share exchange or other means.

 

1.02. Payment. The Subscriber must make payment for the full amount of the purchase price, by check payable to "American Escrow Company, 09S43949 CR6" or by wire transfer of immediately available funds to the following account:

 

TEXAS CAPITAL BANK

 

ABA: 111017979

 

CREDIT TO:        American Escrow Company

 

ACCOUNT NUMBER 1411008038

 

RE: 09S43949 CR6

 

Upon receipt please notify Carla Janousek @ 214-855-8879

 

 

  

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Article 2

 

Closing

 

2.01. Date and Location. The closing of the purchase and sale of the Shares will take place on the Closing Date. It is not necessary for all Parties to execute this Agreement at the same location.

 

2.02. Escrow. Concurrently with the execution of this Agreement, Subscriber has delivered the Purchase Price to BMC Capital, Inc., to be held in escrow in an interest-bearing account until disbursed as provided in Section 2.04 of this Agreement.

 

2.03. Accrued Interest. All interest earned on the Purchase Price will be reported for all federal and state tax purposes to BMC Capital, Inc. and will be disbursed to BMC Capital, Inc. upon the Closing Date or the Termination Date.

 

2.04. Disbursement of Funds.

 

(a)      Upon Closing. BMC Capital, Inc. will disburse to itself the Purchase Price (together with all interest earned) on the Closing Date unless BMC Capital, Inc. provides a Termination Notice to Subscriber at least 1 Business Day prior to the Closing Date.

 

(b)      Upon Termination. If BMC Capital, Inc. elects not to accept Subscriber's subscription under this Agreement and provides a Termination Notice to Subscriber, BMC Capital, Inc. will, within 5 Business Days of the Termination Date, (1) disburse to Subscriber the Purchase Price, and (2) disburse to itself any interest accrued on the Purchase Price.

 

Article 3

 

Representations and Warranties

 

3.01. BMC Capital, Inc. BMC Capital, Inc. represents, warrants, and covenants the following to Subscriber:

 

(a)      Organization. BMC Capital, Inc. is a corporation duly organized, validly existing, and in good standing under the laws of the State of Nevada.

 

(b)      Authority. The making, execution, delivery, and performance of this Agreement by BMC Capital, Inc. constitute valid and binding obligations enforceable in accordance with the terms of this Agreement. BMC Capital, Inc. has obtained all necessary authority, consents, and approvals required to enter into this Agreement and carry out the transactions contemplated in this Agreement.

 

3.02. Subscriber.

 

(a)      Representations. Subscriber represents, warrants, and covenants the following to BMC Capital, Inc.:

 

   (1)      Subscriber is q a ___________________duly organized, validly existing, and in good standing under the laws of the State of ________________ or q an individual resident of the State of  ______________________,   (Check  appropriate box and fill in the blank(s)).

 

(2)      The making, execution, delivery, and performance of this Agreement by Subscriber constitute valid and binding obligations enforceable in accordance with the terms of this Agreement. Subscriber has obtained all necessary authority, required to enter into this Agreement and carry out the transactions contemplated in this Agreement.

 

  

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(3)       Subscriber is an "accredited investor," as defined in Regulation D promulgated by the Securities and Exchange Commission under the Securities Act, and alone or with a purchaser representative (if any), is capable of evaluating an investment in the Shares of BMC Capital, Inc. due to Subscriber's knowledge and experience in financial and business matters. If Subscriber is an entity, all of its owners are "accredited investors," as defined in Regulation D promulgated by the Securities and Exchange Commission under the Securities Act.

 

(4)       Subscriber recognizes that the possible future performance of BMC Capital, Inc. is not guaranteed and that an investment in BMC Capital, Inc. involves significant risk. Subscriber recognizes that BMC Capital, Inc. has limited financial operating history as a business.

 

(5)       Subscriber recognizes that the Shares have not been and may not be registered under the Securities Act or under any applicable state securities or blue sky laws, in reliance upon exemptions from the registration requirements, which exemptions may depend, among other things, upon the bona fide nature of Subscriber's investment intent as represented and warranted in this Agreement.

 

(6)       In addition to any other transfer restrictions, Subscriber understands that the Shares subscribed will be "restricted securities" under the federal securities laws as they are being acquired from BMC Capital, Inc. in a transaction not involving a public offering and that under such laws and applicable regulations such securities may be resold without registration under the Securities Act only in certain limited circumstances. Subscriber acknowledges that the Shares may be required to be held indefinitely unless subsequently registered under the Securities Act or an exemption from registration is available. Subscriber is aware of the provisions of Rule 144 promulgated under the Securities Act, which permits limited resale of shares purchased in a private placement subject to the satisfaction of certain conditions. Subject to and without limiting the foregoing, Subscriber understands that the Shares may not be publicly traded and that no market may exist for such Shares at the time of any resale.

 

(7)       Subscriber understands that Subscriber may suffer adverse tax consequences as a result of Subscriber's disposition of the Shares. Subscriber has consulted any tax consultants Subscriber deems advisable in connection with the subscription for or disposition of the Shares and Subscriber is not relying on BMC Capital, Inc. for any tax advice.

 

(8)       Subject to and without limiting paragraph (6) above, Subscriber will not offer for sale or sell any part of or all of the Shares except (1) upon effective registration of such Shares under the Securities Act, if necessary, and such state blue sky or securities laws as may be in effect from time to time or any legislation substituted for such laws and the rules and regulations under such laws; (2) upon acceptance by BMC Capital, Inc. of an opinion of counsel in such form and by such counsel as may be satisfactory to counsel for BMC Capital, Inc. (or of such other documentation as may be satisfactory to counsel for BMC Capital, Inc.) that registration is not required, including but not limited to such an opinion as related to resale under Rule 144. Subscriber understands that the effect of such representation and warranty is that the Shares must be held indefinitely unless the sale or transfer of the Shares is subsequently registered under applicable state and federal securities laws, or an exemption from such registration is available at the time of any proposed sale or other transfer of the Shares, or all conditions of Rule 144 promulgated under the Securities Act are satisfied. BMC Capital, Inc. is under no obligation to and has no plans to register the Shares, although Subscriber may be entitled to "piggyback" registration rights, subject to BMC Capital, Inc.'s right to limit the number of Shares to be registered based on the advice of its underwriters, including exclusion of piggyback registration rights from a public offering. Further, Subscriber understands that the Shares may not be publicly traded and no market may exist for them.

  

Page 36 of 49

  

 

 

 

(9)         The Shares sought to be subscribed for by the Subscriber are being subscribed and purchased only for the account of the Subscriber and not on behalf of any other Person.

 

(10)         No Person other than the Subscriber has or will have any direct or indirect beneficial interest in the Shares. The Subscriber has no agreement, arrangement, or understanding for transfer of the Shares or any interest in the Shares to any other Person or Persons.

 

(11)         The Shares are being subscribed for by the Subscriber for the purpose of holding for investment and not with a view to any further distribution, assignment, or resale to others.

 

(12)         Subscriber understands that no federal or state agency has passed upon the Shares, or made any finding or determination as to the fairness of the investment or any recommendation or endorsement of the Shares.

 

(13)         The Purchase Price of the Shares has been determined by BMC Capital, Inc. and is set at a price BMC Capital, Inc. believes reflects a discount to the current market value of the Shares. Shares may be issued at a later date for a higher or lower price.

 

(14)         Subscriber (1) has sufficient knowledge and experience in finance, securities, investments, and business matters, and/or has the advice or representation of a qualified Person having sufficient knowledge and experience, to be able to evaluate the merits and risks of an investment in such securities of BMC Capital, Inc. and to make an informed decision with respect to the investment; (2) has been given or had access to sufficient information regarding the proposed arrangement and BMC Capital, Inc. to evaluate the merits and risks of the investment in BMC Capital, Inc.; and (3) is able to bear the economic risk of the investment in BMC Capital, Inc. and to hold the same for purposes of investment.

 

(15)         Subscriber's investment in the Shares sought to be subscribed for does not constitute more than 20% of the Subscriber's net worth.

 

(16)         Subscriber acknowledges that BMC Capital, Inc. has provided to Subscriber a copy of the Subscription Agreement pursuant to which BMC Capital, Inc. has offered an opportunity to acquire the Shares. Subscriber has carefully read and understands the information set forth in the Subscription Agreement.

 

(17)         Subscriber has been given an opportunity to ask questions of, to the extent the Subscriber deemed necessary, has asked questions of and received answers from, the BMC Capital, Inc. concerning the Shares, the terms and conditions of the Offering, the BMC Capital, Inc., and its anticipated affairs. The Subscriber has been given or afforded access to all documents, records, books, and additional information it has requested regarding such matters.

  

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(18)         Prior to any sale, transfer, or other disposition of the Shares, if permitted, the Subscriber agrees to comply with the notice provisions and any other transfer restrictions currently existing or later established by BMC Capital, Inc. Each such notice shall describe the manner and circumstances of the proposed transfer in sufficient detail to enable counsel to render the opinions required in this Agreement, and, if requested by BMC Capital, Inc., addressed to BMC Capital, Inc. and satisfactory in form and substance to BMC Capital, Inc., stating that, in the opinion of such counsel, such transfer will be a transaction exempt from registration under all applicable federal and state securities laws and that all consents, approvals, or authorizations to such transfer have been obtained. If BMC Capital, Inc. requests such an opinion, the Subscriber will not sell, transfer, or dispose of the Shares unless and until such opinion has been delivered to BMC Capital, Inc. and BMC Capital, Inc. acknowledges that it is satisfactory.

 

(19)         If Subscriber is an individual and Subscriber's spouse has not executed this Agreement, Subscriber represents and warrants that (1) Subscriber is not currently married; or (2) Subscriber and Subscriber's spouse have in existence a separate property regime.

 

(20)         The representations and warranties contained in this Agreement made by Subscriber are true, correct, and complete as of the Effective Date and do not omit any material fact necessary to make the statements made in this statement by the Subscriber not misleading. If there should be any adverse change in said information prior to this subscription being accepted, Subscriber will immediately provide BMC Capital, Inc., if applicable, with accurate and complete information concerning any such change.

 

(21)         The undersigned is not subscribing for the Shares as a result of or subsequent to any advertisement, article, notice or other communication published in any newspaper, magazine or similar media or broadcast over television or radio, or presented at any seminar or meeting, or any solicitation of a subscription by a person not previously known to the undersigned in connection with investments in securities generally.

 

(b) Suitability Letter. Concurrently with the execution of this Agreement, Subscriber has completed and executed the Suitability Letter, the terms of which are incorporated into this Section 3.02 by reference.

 

Article 4

 

Indemnification

4.01. Indemnification.

 

(a)       BMC Capital, Inc. BMC Capital, Inc. will defend, indemnify, and hold harmless each Company Indemnitee from and against any and all direct and third party Claims and Losses arising or alleged to arise from BMC Capital, Inc.'s breach of any of BMC Capital, Inc.'s representations, warranties, or covenants made under this Agreement.

 

(b)       Subscriber. Subscriber will defend, indemnify, and hold harmless each Subscriber Indemnitee from any and all direct and third party Claims and Losses arising or alleged to arise from Subscriber's breach of any of Subscriber's representations, warranties, or covenants made under this Agreement.

 

  

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(c) Non-Exclusivity. The Parties' obligations under this Section 4.01 are in addition to any rights and remedies that any indemnitees may have at law, in equity, or otherwise.

 

Article 5

 

General Provisions

 

5.01. Assignment. Neither Party will assign this Agreement without the prior written consent of the other Party. Subject to the forgoing, this Agreement and its terms and provisions inure to the benefit of and are binding upon the Parties and their respective successors, heirs, and assigns.

 

5.02. Governing Law and Venue. This Agreement will be construed in accordance with and governed by the internal law of the State of Nevada (without reference to its rules as to conflicts of law). The Parties irrevocably submit to the jurisdiction of any state or federal court in Harris County, Nevada, with respect to any action or proceeding arising out of or relating to this Agreement. The Parties consent to and grant to any such court jurisdiction over the persons of such Parties and over the subject matter of any such dispute.

 

5.03. Waiver of Trial by Jury. THE PARTIES EXPRESSLY WAIVE TRIAL BY JURY IN ANY JUDICIAL PROCEEDING INVOLVING ANY DISPUTE, CONTROVERSY, OR CLAIM ARISING OUT OF OR RELATING TO THIS AGREEMENT.

 

5.04. Interpretations in Writing. Despite the possibility that one Party or its representatives may have prepared the initial draft of this Agreement or played a greater role in the preparation of subsequent drafts, the Parties agree that neither of them will be deemed the drafter of this Agreement and that, in construing this Agreement, no provision will be construed in favor of one Party on the ground that such provision was drafted by the other. If any claim is made by a Party relating to any conflict, omission, or ambiguity in the provisions of this Agreement, no presumption or burden of proof or persuasion will be implied because this Agreement was prepared by or at the request of either Party or its counsel.

 

5.05. Amendment. Alterations, modifications, or amendments of a provision of this Agreement will not be binding unless such alteration, modification, or amendment is in writing and signed by an authorized representative of each Party.

 

5.06. Waiver. A waiver by a Party of any provision of this Agreement in any instance will not be deemed a waiver of such provision, or any other provision of this Agreement, as to any future instance or occurrence. All remedies, rights, undertakings, and obligations contained in this Agreement will be cumulative and none of them will be in limitation of any other remedy, right, undertaking, or obligation of a Party.

 

5.07. Entire Agreement. This Agreement and the Suitability Letter contain the entire understanding of the Parties and supersede all previous verbal and other written agreements between the Parties with respect to the subject matter of this Agreement. This Agreement does not create any relationship between the Parties except as expressly stated.

 

5.08. Severability. The provisions of this Agreement are severable. The invalidity, in whole or in part, of any provision of this Agreement will not affect the validity or enforceability of any other of its provisions. If one or more provisions of this Agreement are declared invalid or unenforceable, the remaining provisions will remain in full force and effect and will be construed in the broadest possible manner to effectuate the purposes of this Agreement.

  

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5.09. Captions. The headings and captions of this Agreement are inserted for reference convenience and do not define, limit or describe the scope or intent of this Agreement or any particular section, paragraph, or provision of this Agreement. Unless otherwise expressly provided, the words "include(s)," "included," or "including" do not limit the preceding words or terms. Pronouns will refer to the masculine, feminine, neuter, singular or plural as the context will require.

 

5.10. Notices. All notices, requests, or consents required or permitted under this Agreement will be in writing (including electronic form) and will be delivered to the address set forth by each Party in this Agreement, or to such other party and/or address as any of such Parties may designate in a written notice served upon the other Parties in the manner provided for in this Agreement. Each notice, request, consent, or other communication will be given and will be effective: (1) if delivered by hand, when so delivered; (2) if delivered by nationally recognized overnight courier service or sent by United States Express Mail, upon confirmation of delivery; (3) if delivered by certified or registered mail, on the third following Business Day after deposit with the United States Postal Service; or (4) if delivered by facsimile, upon confirmation of successful transmission, and if delivered by email, upon confirmation of receipt by the other party in writing by return email.

 

5.11. Counterparts. This Agreement may be executed in any number of counterparts, each of which may be executed by less than all of the Parties, each of which will be enforceable against the Parties actually executing such counterparts, and all of which together will constitute one instrument. This Agreement may be executed by facsimile signature; such signature is deemed an original signature.

 

5.12. Litigation Expense. In any suit or action brought to enforce any term, condition, or covenant of this Agreement, or to recover damages arising from any breach of this Agreement, the losing Party will pay the substantially prevailing or successful Party's reasonable attorneys' fees and all other reasonable costs and expenses that may be incurred by the successful Party in any suit, action or in any reviews or appeals, including those fees and costs incurred in any bankruptcy case or proceeding.

 

5.13. Survival. The terms of Articles 3, 4, and 5, and Appendixes A and B of this Agreement survive the Closing Date or Termination Date, as applicable, indefinitely, and the terms of Section 1.01 of this Agreement will survive until Subscriber's payment obligations are fulfilled.

 

(Signature Page Follows)

 

Signature Page Subscription Agreement

  

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The Parties have executed this Agreement duly authorized effective as of the Effective Date.

 

	BMC Capital, Inc. 	 	 SUBSCRIBER	 
	 	 	 	 
	BMC Capital, Inc.	 	 	 
	 	 	 	 
	 	 	 	 
	By: 	 	By:	 
	 	 	 	 
	 	 	 	 
	Printed Name    	 	Printed Name   	 
	 	 	 	 
	Title   	 	Title 	 

 

I, _________________________________ , spouse of ,  ___________________________have read and approve this Agreement. In consideration of BMC Capital, Inc. granting my spouse the right to purchase the Shares as set forth in this Agreement, I agree to be irrevocably bound by this Agreement, and further agree that any community property or similar interest that I may have in the Shares will be similarly bound by this Agreement. I appoint my spouse as my attorney-in-fact with respect to any amendment or exercise of any rights under this Agreement.

 

Signature______________________________________

 

Printed Name___________________________________

 

Appendix A-1

 

Subscription Agreement

 

Definitions

 

As used in this Agreement, the following defined terms have the meanings set forth below. The definition of a term applies to all variants of the term. Where a plural term is defined, reference to a singular form refers to a single member of the group defined by the plural term. If the group defined by a plural term consists of one member, it is equivalent to the singular.

  

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(a)       "Affiliate" means: (1) any Person that directly or indirectly through one or more intermediaries, alone or through an affiliated group, controls, is controlled by, or is under common control with, such specified Person; (2) any Person that is an officer, director, partner, member, shareholder, trustee, or employee of, or serves in a similar capacity with respect to, such specified Person (or an Affiliate of such specified Person); or (3) any Person that, directly or indirectly, is the beneficial owner of 50% or more of any class of equity securities of the specified Person or of which the specified Person is directly or indirectly the owner of 50% or more of any class of equity securities. For purposes of this definition, the terms "controlling," "controlled by," or "under common control with" will mean the possession, direct or indirect, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise.

 

(b)       "Agreement" means this Subscription Agreement dated effective as of the Effective Date, as it may be amended from time to time, including all appendixes, exhibits, addendums, and other attachments that are incorporated into this Agreement.

 

(c)       "Business Day" means any day other than Saturday, Sunday, or any federal legal holiday of the United States of America.

 

(d)       "Claim" means each and every claim, request, accusation, allegation, assertion, complaint, petition, demand, suit, action, proceeding, and cause of action of every kind and description, INCLUDING CLAIMS FOR A PARTY'S OWN NEGLIGENCE.

 

(e)       "Closing Date" means the date that the Company elects to accept Subscriber's subscription for the Shares and close the purchase and sale under this Agreement as set forth in a written notice from the Company to Subscriber.

 

(f)       "Shares" means 26,000,000 shares of voting common stock in the Company, subject to dilution, sold and transferred under this Agreement to Subscribers in consideration of Subscribers' payment of the Purchase Price to the Company. The shares are subject to dilution.

 

(g)       "Loss" means each and every liability, loss, damage, and injury (including injury or damage to any property right, and injury, damage, or death to any Person), wound, wrong, hurt, harm, expense, deficiency, diminution in value, obligation, expenditure and disbursement of any kind or nature (including all fees, costs, and expenses of investigation, travel expenses, and value of time expended by personnel), settlement, fine, fee, cost, cost of court, and all expenses of litigation (including reasonable attorneys' fees) incident to any of the foregoing.

 

(h)       "Company" means BMC Capital, Inc., a Nevada corporation, with offices at 2700 Lincoln Plaza 500 North Akard, Dallas, TX 75201.

 

(i)       "Company Indemnitee" means Subscriber and its respective officers, directors, members, managers, partners, shareholders, agents, employees, trustees, successors, and assigns.

 

(j)       "Party" and "Parties" means the Company and Subscriber, as applicable.

  

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(k)     "Person" means an individual, partnership, general partner, limited partner, Corporation, corporation, trust, estate, real estate investment trust, association, or any other legally recognized entity or organization.

 

(1)    "Price Per Share" means $0.19.

 

(m)             "Purchase Price" means the amount of money Subscriber has committed to be contributed to the Company under this Agreement in consideration of the sale of the Shares to Subscriber, and is equal to the number of Shares multiplied by the Price Per Share, or $ _________________________.                                

 

(n)             "Securities Act" means the Securities Act of 1933, as may be amended from time to time.

 

(o)             "Subscriber"     means  _____________________________,   with offices at _________________________________________________.

 

(p)             "Suitability Letter" means that certain Subscription of Shares suitability Letter dated to be effective as of the Effective Date completed and executed by Subscriber, which is attached and incorporated by reference into this Agreement under Appendix A-2.

 

(q)             "Subscriber Indemnitee" means the Company, its Affiliates, and their respective officers, directors, members, managers, partners, shareholders, agents, employees, trustees, successors, and assigns.

 

(r)             "Termination Date" means the date that the Company delivers a Termination Notice to Subscriber pursuant to Section 2.04 of this Agreement.

 

(s)           "Termination Notice" means a written notice from Company to Subscriber notifying Subscriber that Company is not accepting Subscriber's subscription of the Shares under this Agreement.

 

 

 

 

 

 

 

 

 

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