Document:

EX-10.1

 Exhibit 10.1 

 
  

 
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
 CONTRIBUTION, PURCHASE AND SALE AGREEMENT 
  
 Dated as of [                    ], 2014 

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  

 TABLE OF CONTENTS 

 

							
	ARTICLE I	  
		
	 DEFINITIONS
	  	 	4	  
			
	 Section 1.1
	 	 Definitions
	  	 	4	  
	
	ARTICLE II	  
		
	 THE PRE-OFFERING TRANSACTIONS
	  	 	8	  
			
	 Section 2.1
	 	 Sale of 50% of SRV Joint Gas and 50% of SRV Joint Gas Two
	  	 	8	  
	 Section 2.2
	 	 Sale of Höegh Lampung
	  	 	8	  
	 Section 2.3
	 	 Payment of Intercompany Obligations
	  	 	8	  
	
	ARTICLE III	  
		
	 THE OFFERING AND CONCURRENT TRANSACTIONS
	  	 	9	  
			
	 Section 3.1
	 	 Sale of the Operating Company, the SRV Promissory Note and the Höegh Lampung Promissory Note
	  	 	9	  
	 Section 3.2
	 	 The Offering
	  	 	9	  
	 Section 3.3
	 	 Use of the IPO Proceeds
	  	 	9	  
	
	ARTICLE IV	  
		
	 DEFERRED ISSUANCE AND DISTRIBUTION
	  	 	9	  
			
	 Section 4.1
	 	 Deferred Issuance and Distribution
	  	 	9	  
	
	ARTICLE V	  
		
	 OTHER AGREEMENTS
	  	 	10	  
			
	 Section 5.1
	 	 Use of Net Available Cash from the Mooring
	  	 	10	  
	
	ARTICLE VI	  
		
	 REPRESENTATIONS AND WARRANTIES OF HÖEGH LNG AND HÖEGH LNG LTD.; DISCLAIMER
	  	 	10	  
			
	 Section 6.1
	 	 Representations and Warranties
	  	 	10	  
	 Section 6.2
	 	 Disclaimer of Warranties
	  	 	12	  
	
	ARTICLE VII	  
		
	 FURTHER ASSURANCES
	  	 	14	  
			
	 Section 7.1
	 	 Further Assurances
	  	 	14	  
	 Section 7.2
	 	 Attorney-in-Fact
	  	 	14	  

  
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	ARTICLE VIII	  
		
	 MISCELLANEOUS
	  	 	14	  
			
	 Section 8.1
	 	 Survival of Representations and Warranties
	  	 	14	  
	 Section 8.2
	 	 Taxes
	  	 	15	  
	 Section 8.3
	 	 Headings; References, Interpretation
	  	 	15	  
	 Section 8.4
	 	 Successors and Assigns
	  	 	15	  
	 Section 8.5
	 	 No Third-Party Rights
	  	 	15	  
	 Section 8.6
	 	 Counterparts
	  	 	15	  
	 Section 8.7
	 	 Governing Law
	  	 	15	  
	 Section 8.8
	 	 Severability
	  	 	16	  
	 Section 8.9
	 	 Deed; Bill of Sale; Assignment
	  	 	16	  
	 Section 8.10
	 	 Amendment or Modification
	  	 	16	  
	 Section 8.11
	 	 Integration
	  	 	16	  

  
 ii 

 CONTRIBUTION, PURCHASE AND SALE AGREEMENT 

 
 This CONTRIBUTION, PURCHASE AND SALE AGREEMENT (this
“Agreement”), dated as of [                    ], 2014, is made by and among Höegh LNG Holdings Ltd., a Bermuda
exempted company (“Höegh LNG”), Höegh LNG Ltd., a Bermuda exempted company (“Höegh LNG Ltd.”), Höegh LNG Partners LP, a Marshall Islands limited partnership (the
“Partnership”), Höegh LNG GP LLC, a Marshall Islands limited liability company and the general partner of the Partnership (the “General Partner”), and Höegh LNG Partners Operating LLC, a
Marshall Islands limited liability company (the “Operating Company”). The above-named entities are sometimes referred to in this Agreement each as a “Party” and collectively as the
“Parties.” 
  
 RECITALS

  
 WHEREAS, prior to the date hereof,
Höegh LNG formed the General Partner pursuant to the Marshall Islands Limited Liability Company Act of 1996 for the purposes set forth in the Limited Liability Company Agreement of the General Partner, dated April 14, 2014.

  
 WHEREAS, prior to the date hereof,
Höegh LNG and the General Partner formed the Partnership pursuant to the Marshall Islands Limited Partnership Act for the purposes set forth in the Agreement of Limited Partnership of the Partnership, dated April 28, 2014.

  
 WHEREAS, prior to the date hereof,
Höegh LNG formed the Operating Company and contributed to it $1,000, in exchange for 100% of the limited liability company interests in the Operating Company. 

 
 WHEREAS, prior to the date hereof, the Operating
Company formed Höegh LNG Services Ltd, a private limited company registered in England and Wales (“Höegh UK”), pursuant to the Companies Act of England and Wales. 

 
 WHEREAS, on the date hereof: 

 

	 	1.	 	Höegh LNG Ltd. is a wholly owned subsidiary of Höegh LNG. 

 

	 	2.	 	Höegh LNG, as lender, and Höegh LNG Ltd., as borrower, are parties to an Inter-Company Loan Agreement, dated as of January 30, 2009, as amended by
Amendment No. 1, dated as of August 9, 2010, Amendment No. 2, dated as of September 13, 2011, Amendment No. 3, dated as of August 15, 2012, Amendment No. 4, dated as of May 22, 2013 and Amendment No. 5,
dated as of December 18, 2013 (as amended, the “Höegh LNG Intercompany Loan”). 

  

	 	3.	 	Höegh LNG Ltd. owns 50% of the equity interests, comprising 25,000 ordinary shares (the “SRV JG Shares”), in SRV Joint Gas Ltd., a Cayman
Islands company and the owner of the GDF Suez Neptune, a floating storage and regasification unit (“SRV Joint Gas”), and is party to that certain Novation Deed, dated August 31, 2010, among Mitsui O.S.K. Lines,
Ltd. (“MOL”), Tokyo LNG Tanker Co., Ltd. (“TLT”), Höegh LNG Ltd. and SRV Joint Gas, pursuant to which Höegh LNG Ltd. has made a loan to SRV Joint Gas (the “SRV Joint Gas
Shareholders’ Loan”). 

  
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	 	4.	 	Höegh LNG Ltd. owns 50% of the equity interests, comprising 25,000 ordinary shares (the “SRV JG 2 Shares”), in SRV Joint Gas Two Ltd., a
Cayman Islands company and the owner of the GDF Suez Cape Ann, a floating storage and regasification unit (“SRV Joint Gas Two”), and is party to that certain Novation Deed, dated August 31, 2010, among MOL, TLT,
Höegh LNG Ltd. and SRV Joint Gas Two, pursuant to which Höegh LNG Ltd. has made a loan to SRV Joint Gas Two (the “SRV Joint Gas Two Shareholders’ Loan”). 

 

	 	5.	 	Höegh LNG Ltd. owns 100% of the equity interests in Hoegh LNG Lampung Pte Ltd., a Singapore company (“Höegh Lampung”), comprising
100,000 ordinary shares and 101,500,000 redeemable preference shares. 

  

	 	6.	 	Höegh Lampung owns 9,800 Class A shares of PT Hoegh LNG Lampung, an Indonesian company and the owner of the PGN FSRU Lampung, a floating storage and
regasification unit (“PT Hoegh”), representing 49% of the issued and outstanding share capital of PT Hoegh, and PT Bahtera Daya Utama, an Indonesian company (“PT Bahtera”), owns 10,200 Class B shares
of PT Hoegh, representing 51% of the issued and outstanding share capital of PT Hoegh. 

  

	 	7.	 	Höegh Lampung, as lender, is party to that certain Amendment and Restatement Agreement, dated October 9, 2013, with PT Bahtera, as borrower, the proceeds of
which were used by PT Bahtera’s to purchase its 51% ownership interests in PT Hoegh described above. 

  

	 	8.	 	Höegh Lampung is the borrower under (i) a $40.0 million promissory note payable to Höegh LNG Ltd. (the “$40 Million Promissory
Note”) (ii) a $48.5 million promissory note payable to Höegh LNG Ltd., the principal of which is no longer outstanding (the “$48.5 Million Promissory Note”), and (iii) a $101.5 million promissory
note payable to Höegh LNG Ltd., the principal of which is no longer outstanding (the “$101.5 Million Promissory Note”). 

 

	 	9.	 	The General Partner is a wholly owned subsidiary of Höegh LNG. 

 

	 	10.	 	Höegh LNG owns a 100% limited partner interest in the Partnership, and the General Partner owns a non-economic general partner interest in the Partnership.

  

	 	11.	 	Höegh LNG owns 100% of the equity interests in the Operating Company. 

 

	 	12.	 	The Operating Company owns 100% of the equity interests in Höegh UK. 

  
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 WHEREAS, pursuant to this Agreement, each of the
following will occur on the date that is two business days prior to the closing of the underwritten initial public offering of the Partnership (such offering, the “Offering,” and such time, the “Initial Effective
Time”): 
  

	 	1.	 	Höegh LNG Ltd. sells, assigns and transfers to the Operating Company (a) the SRV JG Shares, (b) the SRV JG 2 Shares and (c) its share of the
receivable (including all rights to accrued interest) associated with (i) the SRV Joint Gas Shareholders’ Loan, such transfer to be evidenced by a novation deed effective as of the Initial Effective Time, and (ii) the SRV Joint Gas
Two Shareholders’ Loan, such transfer to be evidenced by a novation deed effective as of the Initial Effective Time, in exchange for a promissory note dated the Initial Effective Time from the Operating Company in the amount of
$[            ] million (the “SRV Promissory Note”). 

  

	 	2.	 	Höegh LNG Ltd. sells, assigns and transfers to the Operating Company (a) 100% of the equity interests in Höegh Lampung and (b) its receivable
associated with (i) the $40 Million Promissory Note issued by Höegh Lampung (including all rights to accrued interest) (ii) the remaining accrued interest on the $48.5 Million Promissory Note and (iii) the remaining accrued
interest on the $101.5 Million Promissory Note, in exchange for a promissory note dated the Initial Effective Time from the Operating Company in the amount of $[            ] million
(the “Höegh Lampung Promissory Note”). 

  
 WHEREAS, pursuant to this Agreement, the following will occur on the date that is one business day prior to the closing of the Offering (the “Second Effective
Time”): 
  

	 	1.	 	Höegh LNG Ltd. sells, assigns and transfers to Höegh LNG (a) the SRV Promissory Note and (b) the Höegh Lampung Promissory Note, in exchange for
the reduction of $[            ] of Höegh LNG Ltd.’s outstanding debt pursuant to the Höegh LNG Intercompany Loan. 

 
 WHEREAS, pursuant to this
Agreement, each of the following will occur on the closing date of the Offering (the “Third Effective Time”): 
  

	 	1.	 	Höegh LNG sells, assigns and transfers to the Partnership (a) 100% of the equity interests in the Operating Company, (b) the SRV Promissory Note and
(c) the Höegh Lampung Promissory Note. 

  

	 	2.	 	As consideration for the assignment and transfer in Paragraph 1 of this recital, the Partnership issues to Höegh LNG
[            ] Common Units, [            ] Subordinated Units, the IDRs and the deferred issuance and distribution
rights set forth in Section 4.1. 

  

	 	3.	 	The Partnership issues to the public [            ] Common Units in the Offering in exchange for
$[            ] (the “IPO Proceeds”). 

  
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	 	4.	 	The Partnership uses $[            ] of the IPO Proceeds to pay underwriting discounts,
structuring fees and estimated offering expenses. 

  

	 	5.	 	The Partnership uses $140,000,000 of the IPO Proceeds to make an intercompany loan to Höegh LNG, in exchange for a note bearing interest at a rate of
5.88%, which is repayable on demand or which the Partnership can elect to utilize as part of the purchase consideration in the event the Partnership purchases all or a portion of Höegh LNG’s interests in the floating storage and
regasification unit the Independence (the “$140 Million Demand Note”). 

  

	 	6.	 	The Partnership retains $20,000,000 of the IPO Proceeds to be used for general partnership purposes. 

 

	 	7.	 	The Partnership distributes the remaining $[            ] of the IPO Proceeds to Höegh
LNG. 

  
 AGREEMENT

  
 NOW THEREFORE, in consideration of
the foregoing and other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged, and intending to be legally bound hereby, the Parties hereby agree as follows: 

 
 ARTICLE I 

 
 DEFINITIONS 

 

Section 1.1        Definitions. The following defined terms have the meanings given
below: 
  
 “$40 Million
Promissory Note” has the meaning set forth in the Recitals of this Agreement. 
  

“$48.5 Million Promissory Note” has the meaning set forth in the Recitals of this Agreement.

  
 “$101.5 Million
Promissory Note” has the meaning set forth in the Recitals of this Agreement. 
  

“$140 Million Demand Note” has the meaning set forth in the Recitals of this Agreement.

  

“Agreement” has the meaning set forth in the opening paragraph of this Agreement. 

 
 “Attorney-in-Fact” has the meaning set forth in Section 7.2. 

  
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 “Common Unit” means a common unit representing a
limited partner interest in the Partnership having the rights set forth in the Partnership Agreement. 
  

“Conveying Party” or “Conveying Parties” has the meaning set forth in
Section 7.2. 
  

“Firm Units” means Common Units to be sold to the Underwriters pursuant to the terms of the
Underwriting Agreement, excluding Option Units. 
  
 “FSRU Financing Agreements” means the (i) Neptune Facility Agreement, dated December 20, 2007, between SRV Joint Gas and the other parties thereto, as amended by the
Amendment Agreement, dated March 25, 2010, the Letter from the Agent for the Lenders, dated August 26, 2010 and the Letter from the Agent for the Lenders, dated July [    ], 2014, (ii) Cape Ann Facility
Agreement, dated December, 20, 2007, between SRV Joint Gas Two and the other parties thereto, as amended by the Amendment Agreement, dated March 25, 2010, the Letter from the Agent for the Lenders, dated August 26, 2010, the Amendment
Agreement, dated June 29, 2012 and the Letter from the Agent for the Lenders, dated July [    ], 2014, and (iii) $299 Million Lampung Facility Agreement, dated September 12, 2013, between PT Hoegh and the
other parties thereto. 
  

“FSRU-Owning Subsidiaries” means collectively SRV Joint Gas, SRV Joint Gas Two and PT Hoegh.

  
 “FSRUs”
means collectively the GDF Suez Neptune, the GDF Suez Cape Ann and the PGN FSRU Lampung. 
  

“General Partner” has the meaning set forth in the opening paragraph of this Agreement.

  
 “Höegh
Lampung” has the meaning set forth in the Recitals of this Agreement. 
  
 “Höegh Lampung Promissory Note” has the meaning set forth in the Recitals of this Agreement. 

 
 “Höegh LNG” has
the meaning set forth in the opening paragraph of this Agreement. 
  
 “Höegh LNG Intercompany Loan” has the meaning set forth in the Recitals of this Agreement. 

 
 “Höegh LNG Ltd.”
has the meaning set forth in the opening paragraph of this Agreement. 

  
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 “Höegh UK” has the meaning set forth in the
Recitals of this Agreement. 
  

“IDRs” means the incentive distribution rights of the Partnership having the rights set forth in
the Partnership Agreement. 
  

“Initial Effective Time” has the meaning set forth in the Recitals of this Agreement. 

 
 “IPO Proceeds”
has the meaning set forth in the Recitals of this Agreement. 
  
 “Laws” has the meaning set forth in Section 6.1(c). 
  

“MOL” has the meaning set forth in the Recitals of this Agreement. 

 
 “Mooring” means the
tower yoke mooring system related to the PGN FSRU Lampung, a floating storage and regasification unit. 
  

“Mooring Price” means the total amount payable by PGN for the price of the Mooring. 

 
 “Net Available Cash from the
Mooring” is the Mooring Price less all unpaid, accrued or expected remaining payments for the Mooring. 
  

“Offering” has the meaning set forth in the Recitals of this Agreement. 

 
 “Operating Company”
has the meaning set forth in the opening paragraph of this Agreement. 
  
 “Option Units” means Common Units that the Partnership will agree to issue upon exercise of the Over-Allotment Option. 

 

“Over-Allotment Option” means the number of Common Units
equal to 15% of the Firm Units, which the Partnership will agree to sell to the Underwriters, at their option, to cover over-allotments in connection with the Offering. 

 
 “Partnership” has the
meaning set forth in the opening paragraph of this Agreement. 
  
 “Partnership Agreement” means the First Amended and Restated Agreement of Limited Partnership of the Partnership, substantially in the form attached as Appendix A to the
Registration Statement. 

  
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 “Party” or “Parties” has the
meaning set forth in the opening paragraph of this Agreement. 
  
 “PGN” has the meaning set forth in Section 6.1(g). 
  

“PT Bahtera” has the meaning set forth in the Recitals of this Agreement. 

 
 “PT Hoegh” has the
meaning set forth in the Recitals of this Agreement. 
  
 “Registration Statement” means the Registration Statement on Form F-1 filed with the Securities and Exchange Commission (Registration No. 333-197228), including the preliminary prospectus contained therein, as amended. 
  

“Subordinated Unit” means a subordinated unit representing a limited partner interest in the
Partnership having the rights set forth in the Partnership Agreement. 
  
 “SRV JG Shares” has the meaning set forth in the Recitals of this Agreement. 
  

“SRV JG 2 Shares” has the meaning set forth in the Recitals of this Agreement. 

 
 “SRV Joint Gas” has
the meaning set forth in the Recitals of this Agreement. 
  
 “SRV Joint Gas Shareholders’ Loan” has the meaning set forth in the Recitals of this Agreement. 

 
 “SRV Joint Gas Two”
has the meaning set forth in the Recitals of this Agreement. 
  
 “SRV Joint Gas Two Shareholders’ Loan” has the meaning set forth in the Recitals of this Agreement. 

 
 “SRV Promissory Note”
has the meaning set forth in the Recitals of this Agreement. 
  
 “Third Effective Time” has the meaning set forth in the Recitals of this Agreement. 
  

“TLT” has the meaning set forth in the Recitals of this Agreement. 

  
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 “Transferred Subsidiaries” means collectively the
Operating Company, Höegh UK, Höegh Lampung and the FSRU-Owning Subsidiaries. 
  

“Underwriters” means the underwriters listed in the Underwriting Agreement. 

 
 “Underwriting
Agreement” means a firm commitment underwriting agreement to be entered into between the Partnership, Höegh LNG, the Operating Company, the General Partner and the underwriters named in the Registration Statement. 

 
 ARTICLE II 

 
 THE PRE-OFFERING TRANSACTIONS 

 
 The following transactions shall be completed, as of the
times set forth below and in the order set forth below. 
  
 Section 2.1        Sale of 50% of SRV Joint Gas and 50% of SRV Joint Gas Two. As of the Initial Effective Time, Höegh LNG Ltd. hereby sells,
assigns and transfers to the Operating Company (a) the SRV JG Shares, together with all rights now or hereafter attached or accruing thereto, (b) the SRV JG 2 Shares, together with all rights now or hereafter attached or accruing thereto,
and (c) its share of the receivable (including all rights to accrued interest) associated with (i) the SRV Joint Gas Shareholders’ Loan, such transfer to be evidenced by a novation deed effective as of the Initial Effective Time, and
(ii) the SRV Joint Gas Two Shareholders’ Loan, such transfer to be evidenced by a novation deed effective as of the Initial Effective Time, in exchange for the SRV Promissory Note. 
  
 Section 2.2        Sale of Höegh Lampung. As of the
Initial Effective Time, Höegh LNG Ltd. hereby sells, assigns and transfers to the Operating Company (a) 100% of the equity interests in Höegh Lampung and (b) its receivables associated with (i) the $40 Million Promissory
Note issued by Höegh Lampung (including all rights to accrued interest) (ii) the remaining accrued interest on the $48.5 Million Promissory Note and (iii) the remaining accrued interest on the $101.5 Million Promissory Note, in
exchange for the Höegh Lampung Promissory Note. 
  
 Section 2.3        Payment of Intercompany Obligations. As of the Second Effective Time, Höegh LNG Ltd. hereby sells, assigns and transfers to
Höegh LNG (without recourse or warranty other than as set forth in Article VI) (a) the SRV Promissory Note and (b) the Höegh Lampung Promissory Note, in exchange for the reduction of
$[            ] of Höegh LNG Ltd.’s outstanding debt pursuant to the Höegh LNG Intercompany Loan. 

  
 8 

 ARTICLE III 

 
 THE OFFERING AND CONCURRENT TRANSACTIONS 

 
 After the consummation of the transactions occurring as of
the Initial Effective Time and as of the Second Effective Time, as described in Article II, the following transactions will be completed in the order set forth below, as of the Third Effective Time: 

 

Section 3.1        Sale of the Operating Company, the SRV Promissory Note and the
Höegh Lampung Promissory Note. Höegh LNG hereby (a) sells, assigns and transfers to the Partnership 100% of the equity interests in the Operating Company and (b) sells, assigns and transfers to the Partnership (without
recourse or warranty other than as set forth in Article VI) (i) the SRV Promissory Note and (ii) the Höegh Lampung Promissory Note, in exchange for
[            ] Common Units, [            ] Subordinated Units, the IDRs and the deferred issuance and distribution
rights set forth in Section 4.1. 
  

Section 3.2        The Offering. The Partnership shall issue
[            ] Common Units to the public in the Offering pursuant to the Underwriting Agreement, in exchange for the IPO Proceeds. 

 

Section 3.3        Use of the IPO Proceeds. 

 
 (a)         The
Partnership shall use $[            ] of the IPO Proceeds to pay underwriting discounts, structuring fees and estimated offering expenses. 

 
 (b)         The
Partnership shall use $140,000,000 of the IPO Proceeds to make an intercompany loan to Höegh LNG, in exchange for the $140 Million Demand Note. 
  

(c)         The Partnership shall retain $20,000,000 of the IPO Proceeds to be used for
general partnership purposes. 
  

(d)         The Partnership shall distribute the remaining
$[            ] of the IPO Proceeds to Höegh LNG. 
  

ARTICLE IV 
  

DEFERRED ISSUANCE AND DISTRIBUTION 
  

Section 4.1        Deferred Issuance and Distribution. Upon the earlier to
occur of the expiration of the Over-Allotment Option period or the exercise in full of the Over-Allotment Option, the Partnership shall issue to Höegh LNG a number of additional Common Units that is equal to the excess, if any, of (a) the
total number of Option Units over (b) the aggregate number of Common Units, if any, actually purchased by and issued to the Underwriters pursuant to the exercise(s) of the Over-Allotment Option. Upon each exercise of the Over-Allotment Option,
the Partnership shall distribute to Höegh LNG an amount of cash equal to the proceeds therefrom net of the underwriters’ discount and structuring fees of each such exercise. 

  
 9 

 ARTICLE V 

 
 OTHER AGREEMENTS 

 

Section 5.1        Use of Net Available Cash from the Mooring. As part of the transfer
to the Partnership of Höegh LNG’s equity interest in the Operating Company, which indirectly owns equity interest in PT Hoegh, Höegh LNG hereby agrees that Net Available Cash from the Mooring will be used to fund (a) the
remaining costs of the PGN FSRU Lampung, to avoid further draws on the external debt facilities, (b) payment of approximately $16 million to a restricted cash account required by the external debt facilities, (c) the repayment of amounts
due to owners and affiliates of PT Hoegh used to finance operations until the start of time charter hire under the PGN FSRU Lampung time charter and (d) the repayment of approximately $7.9 million under the external debt facilities. 

 
 ARTICLE VI 

 
 REPRESENTATIONS AND WARRANTIES OF HÖEGH LNG AND
HÖEGH LNG LTD.; DISCLAIMER 
  

Section 6.1        Representations and Warranties. Höegh LNG and Höegh LNG
Ltd., severally and jointly, hereby represent and warrant that: 
  
 (a)         Each of the Transferred Subsidiaries has been duly formed or incorporated, is validly existing, is in good standing under the Laws of its respective
jurisdiction of formation or incorporation and has all requisite power and authority to operate its assets and conduct its business as described in the Registration Statement. 

 
 (b)         The
execution and delivery of this Agreement, and all documents, instruments and agreements required to be executed and delivered by Höegh LNG and/or Höegh LNG Ltd. pursuant to this Agreement in connection with the completion of the
transactions contemplated by this Agreement, has been duly authorized by all necessary action on the part of Höegh LNG and Höegh LNG Ltd., as applicable. Furthermore, this Agreement has been duly executed and delivered by each of
Höegh LNG and Höegh LNG Ltd. and constitutes a legal, valid and binding obligation of Höegh LNG and Höegh LNG Ltd., as applicable, enforceable in accordance with the terms of this Agreement, except as may be limited by
bankruptcy, insolvency, liquidation, reorganization, reconstruction and other similar Laws of general application affecting the enforceability of remedies and rights of creditors and except that equitable remedies such as specific performance and
injunction are in the discretion of a court. 
  

(c)         The execution, delivery and performance by Höegh LNG and Höegh LNG Ltd. of
this Agreement will not (i) conflict with, result in any violation of or constitute a breach of any of the terms or provisions of, (ii) result in the acceleration of any obligation under or (iii) constitute a default under any
provision of (A) the certificate of formation, certificate of incorporation, agreement of limited partnership, limited liability company agreement, memorandum and articles of association, bylaws or other organizational documents of Höegh
LNG, Höegh LNG Ltd. or any Transferred Subsidiary; (B) any lien, encumbrance, security 

  
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interest, pledge, mortgage, charge, other claim, bond, indenture, agreement, contract, franchise license, permit or other instrument or obligation to which Höegh LNG, Höegh LNG Ltd. or
any Transferred Subsidiary is a party, is subject or by which any of the assets of Höegh LNG, Höegh LNG Ltd. or any Transferred Subsidiary is bound; (C) any applicable laws, statutes, ordinances, rules or regulations promulgated by a
governmental authority, orders of a governmental authority, judicial decisions, decisions of arbitrators or determinations of any governmental authority or court (collectively, “Laws”); or (D) any time charter to which
any Transferred Subsidiary is a party or any material provision of any material contract to which Höegh LNG, Höegh LNG Ltd. or any Transferred Subsidiary is a party or by which any of the assets of Höegh LNG, Höegh LNG Ltd. or
any Transferred Subsidiary is bound. 
  

(d)         Except as has already been obtained or that will be obtained in the ordinary course of
business, no consent, permit, approval or authorization of, notice or declaration to or filing with any governmental authority or any other person, including those related to any environmental Laws or regulations, is required in connection with the
execution and delivery by Höegh LNG or Höegh LNG Ltd. of this Agreement or the consummation by Höegh LNG or Höegh LNG Ltd. of the transactions contemplated hereunder. 
  
 (e)         All of the issued and outstanding equity interests of each
Transferred Subsidiary are duly authorized, validly issued in accordance with the certificate of formation, certificate of incorporation, agreement of limited partnership, limited liability company agreement, bylaws or other organizational documents
of such Transferred Subsidiary and fully paid and non-assessable. 
  

(f)         Höegh LNG owns 100% of the equity interests in the Operating Company. The
Operating Company owns 100% of the equity interests in Höegh UK. Höegh LNG Ltd. owns (i) 100% of the equity interests in Höegh Lampung, (ii) 50% of the equity interests in SRV Joint Gas and (iii) 50% of the equity
interests in SRV Joint Gas Two. Höegh Lampung owns 49% of the equity interests in PT Hoegh. Höegh LNG, Höegh LNG Ltd., the Operating Company or Höegh Lampung, as applicable, has good and marketable title to such equity interests,
free and clear of all liens, encumbrances, security interests, pledges, mortgages, charges or other claims, other than those arising under the FSRU Financing Agreements. 

 
 (g)         There is
no outstanding agreement, contract, option, commitment or other right or understanding in favor of, or held by, any person other than the Partnership to acquire the Transferred Subsidiaries or the assets of the Transferred Subsidiaries, including
the FSRUs, that has not been waived, other than (i) the purchase option set forth in Clause 36 of the Amendment and Restatement Agreement of the Original Lease, Operation and Maintenance Agreement, dated October 17, 2012, between
Höegh LNG Ltd. and PT Perusahaan Gas Negara (Persero) Tbk (“PGN”), as novated by the Novation Agreement for Amended & Restated Lease, Operation & Maintenance Agreement, dated September 18, 2013,
among PGN, Höegh LNG Ltd. and PT Hoegh, as novated by the Novation Agreement for Amended & Restated Lease, Operation & Maintenance Agreement, dated February 21, 2014, among PGN, PT PGN LNG Indonesia and PT Hoegh and
(ii) the Second Amended and Restated Shareholders’ Agreement, among MOL, TLT and Höegh LNG Ltd. 

  
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 (h)         Correct and complete copies of the
organizational documents of each Transferred Subsidiary (as amended to the date of this Agreement) and each time charter to which any Transferred Subsidiary is a party have been made available to the Partnership. 

 
 (i)         Each time
charter to which any Transferred Subsidiary is a party is a valid and binding agreement of such Transferred Subsidiary, enforceable in accordance with its terms and, to the knowledge of Höegh LNG and Höegh LNG Ltd., of all other parties
thereto, enforceable in accordance with its terms, except as may be limited by bankruptcy, insolvency, liquidation, winding up, reorganization, reconstruction and other similar Laws of general application affecting the enforceability of remedies and
rights of creditors and except that equitable remedies such as specific performance and injunction are in the discretion of a court. 
  

(j)         Except as described in the Registration Statement, each FSRU-Owning Subsidiary has
fulfilled all material obligations required pursuant to its respective time charter to have been performed by it prior to the date of this Agreement and has not waived any material rights thereunder. No material default or breach exists in respect
thereof on the part of any FSRU-Owning Subsidiary or, to the knowledge of Höegh LNG and Höegh LNG Ltd., any of the other parties thereto. To the knowledge of Höegh LNG and Höegh LNG Ltd., no event has occurred that, after giving
of notice or the lapse of time, or both, would constitute such a material default or breach. 
  
 (k)         Except for such liabilities, debts obligations, encumbrances, defects, restrictions or claims of a general nature and magnitude that would arise in
connection with the operation of floating storage and regasification units of the same type as the FSRUs in the ordinary course of business, there are no liabilities, debts or obligations of, encumbrances, defects or restrictions with respect to, or
claims against the Transferred Subsidiaries or any of the assets owned by the Transferred Subsidiaries, including the FSRUs, other than those arising under or in connection with the FSRU Financing Agreements and shareholder loans. For the avoidance
of doubt, Höegh LNG will retain any and all obligations arising in connection with agents agreements related to contractual arrangements in Indonesia. 
  

(l)         Each FSRU is (i) adequate and suitable for use by the applicable Transferred
Subsidiary in such Transferred Subsidiary’s business as presently conducted by it in all material respects as described in the Registration Statement, ordinary wear and tear excepted, (ii) in good running order and repair,
(iii) insured against all risks, and in amounts, consistent with common industry practices, (iv) in compliance with applicable Laws and regulations, (v) duly registered under the flag set forth opposite such FSRU’s name on
Schedule A hereto and (vi) in compliance in all material respects with the requirements of its present class and classification society. All class certificates of each FSRU are clean, valid and free of overdue recommendations
affecting class. 
  

Section 6.2        Disclaimer of Warranties. EXCEPT TO THE EXTENT PROVIDED IN THIS
AGREEMENT OR IN ANY OTHER DOCUMENT, INSTRUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION WITH THIS AGREEMENT, THE PARTIES ACKNOWLEDGE AND AGREE THAT NONE OF THE PARTIES HAS MADE, NONE OF THE PARTIES DOES MAKE AND EACH PARTY SPECIFICALLY
NEGATES 

  
 12 

 
AND DISCLAIMS ANY REPRESENTATIONS, WARRANTIES, PROMISES, COVENANTS, AGREEMENTS OR GUARANTIES OF ANY KIND OR CHARACTER WHATSOEVER, WHETHER EXPRESS, IMPLIED OR STATUTORY, ORAL OR WRITTEN, PAST OR
PRESENT, REGARDING (A) THE VALUE, NATURE, QUALITY OR CONDITION OF THE ASSETS OWNED BY THE TRANSFERRED SUBSIDIARIES, INCLUDING, WITHOUT LIMITATION, THE ENVIRONMENTAL CONDITION OF THE ASSETS GENERALLY, INCLUDING, WITHOUT LIMITATION, THE PRESENCE
OR LACK OF HAZARDOUS SUBSTANCES OR OTHER MATTERS ON SUCH ASSETS, (B) THE INCOME TO BE DERIVED FROM SUCH ASSETS, (C) THE SUITABILITY OF SUCH ASSETS FOR ANY AND ALL ACTIVITIES AND USES THAT MAY BE CONDUCTED THEREON OR THEREWITH, (D) THE
COMPLIANCE OF OR BY SUCH ASSETS OR THEIR OPERATION WITH ANY LAWS (INCLUDING, WITHOUT LIMITATION, ANY ZONING, ENVIRONMENTAL PROTECTION, POLLUTION OR LAND USE LAWS, RULES, REGULATIONS, ORDERS OR REQUIREMENTS) OR (E) THE HABITABILITY,
MERCHANTABILITY, MARKETABILITY, PROFITABILITY OR FITNESS FOR A PARTICULAR PURPOSE OF SUCH ASSETS. EXCEPT TO THE EXTENT PROVIDED IN ANY OTHER DOCUMENT, INSTRUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION WITH THIS AGREEMENT, EACH PARTY
ACKNOWLEDGES AND AGREES THAT SUCH PARTY HAS HAD THE OPPORTUNITY TO INSPECT THE ASSETS OF THE TRANSFERRED SUBSIDIARIES, AND SUCH PARTY IS RELYING SOLELY ON ITS OWN INVESTIGATION OF THE ASSETS OF THE TRANSFERRED SUBSIDIARIES AND NOT ON ANY INFORMATION
PROVIDED OR TO BE PROVIDED BY ANY OF THE OTHER PARTIES. EXCEPT TO THE EXTENT PROVIDED IN ANY OTHER DOCUMENT, INSTRUMENT OR AGREEMENT EXECUTED OR DELIVERED IN CONNECTION WITH THIS AGREEMENT, NONE OF THE PARTIES IS LIABLE OR BOUND IN ANY MANNER BY ANY
VERBAL OR WRITTEN STATEMENTS, REPRESENTATIONS OR INFORMATION PERTAINING TO THE ASSETS OF THE TRANSFERRED SUBSIDIARIES FURNISHED BY ANY AGENT, EMPLOYEE, SERVANT OR THIRD PARTY. THIS SECTION 6.2 SURVIVES THE CONTRIBUTION AND CONVEYANCE OF THE
INTERESTS OR THE TERMINATION OF THIS AGREEMENT. THE PROVISIONS OF THIS SECTION 6.2 HAVE BEEN NEGOTIATED BY THE PARTIES AFTER DUE CONSIDERATION AND ARE INTENDED TO BE A COMPLETE EXCLUSION AND NEGATION OF ANY REPRESENTATIONS OR WARRANTIES,
WHETHER EXPRESS, IMPLIED OR STATUTORY, WITH RESPECT TO THE ASSETS OF THE TRANSFERRED SUBSIDIARIES THAT MAY ARISE PURSUANT TO ANY LAW NOW OR HEREAFTER IN EFFECT, OR OTHERWISE, EXCEPT AS SET FORTH IN THIS AGREEMENT OR ANY OTHER DOCUMENT, INSTRUMENT OR
AGREEMENT EXECUTED OR DELIVERED IN CONNECTION WITH THIS AGREEMENT. 

  
 13 

 ARTICLE VII 

 
 FURTHER ASSURANCES 

 

Section 7.1        Further Assurances. From time to time after the date of this
Agreement, and without any further consideration, the Parties agree to execute, acknowledge and deliver all such additional deeds, assignments, bills of sale, conveyances, instruments, notices, releases, acquittances and other documents, and will do
all such other acts and things, all in accordance with applicable Law, as may be necessary or appropriate (a) more fully and effectively to assure that the applicable Parties own all of the properties, rights, titles, interests, estates,
remedies, powers and privileges granted by this Agreement, or which are intended to be so granted, (b) more fully and effectively to vest in the applicable Parties and their respective successors and assigns beneficial and record title to the
interests contributed and assigned by this Agreement or intended so to be and (c) more fully and effectively to carry out the purposes and intent of this Agreement. 

 

Section 7.2        Attorney-in-Fact. Each Party that has conveyed any interests as
reflected by this Agreement (collectively, the “Conveying Parties”) hereby constitutes and appoints Richard Tyrrell (the
“Attorney-in-Fact”) as its true and lawful attorney-in-fact with
full power of substitution for it and in its name, place and stead or otherwise on behalf of the applicable Conveying Party and its successors and assigns, and for the benefit of the
Attorney-in-Fact (a) to demand and receive from time to time the interests conveyed by this Agreement (or intended so to be), (b) to execute in the name of the
applicable Conveying Party and its successors and assigns instruments of conveyance or instruments of further assurance, (c) to give receipts and releases in respect of the same, and (d) from time to time to institute and prosecute in the
name of the applicable Conveying Party for the benefit of the Attorney-in-Fact any and all proceedings at Law, in equity or otherwise that the Attorney-in-Fact deems
proper in order to (i) collect, assert or enforce any claims, rights or titles of any kind in and to such interests, (ii) defend and compromise any and all actions, suits or proceedings in respect of such interests and (iii) do any
and all such acts and things in furtherance of this Agreement as the Attorney-in-Fact deems advisable. Each Conveying Party hereby declares that the appointment hereby made and the powers hereby granted are coupled with an interest, and are and will
be irrevocable and perpetual and will not be terminated by any act of any Conveying Party or its successors or assigns or by operation of Law. 
  

ARTICLE VIII 
  

MISCELLANEOUS 
  

Section 8.1        Survival of Representations and Warranties. The representations and
warranties of Höegh LNG and Höegh LNG Ltd. in this Agreement, and in or under any documents, instruments and agreements delivered pursuant to this Agreement, will survive the completion of the transactions contemplated hereby regardless of
any independent investigations that the Partnership may make or cause to be made, or knowledge it may have, prior to the date of this Agreement and will continue in full force and effect for a period of one year from the date of this Agreement. At
the end of such period, such representations and warranties will terminate, and no claim may be brought by the Partnership against Höegh LNG and Höegh LNG Ltd. in respect of such representations and warranties, except for claims that have
been asserted by the Partnership prior to the date of this Agreement. 

  
 14 

 Section 8.2        Taxes. The
Partnership shall pay any and all sales, use and similar taxes arising out of the contributions, conveyances and deliveries to be made hereunder and shall pay all documentary, filing, recording, transfer, deed and conveyance taxes and fees required
in connection therewith; provided, however, that Höegh LNG shall pay, or reimburse the Operating Company for, any and all Singapore corporate income tax, stamp duties, indirect taxes or withholding taxes arising out of the contributions,
conveyances and deliveries to be made hereunder. 
  

Section 8.3        Headings; References, Interpretation. All Article and Section
headings in this Agreement are for convenience only and will not be deemed to control or affect the meaning or construction of any of the provisions hereof. The words “hereof,” “herein” and “hereunder,” and words of
similar import, when used in this Agreement, refer to this Agreement as a whole, including, without limitation, all Schedules attached hereto, and not to any particular provision of this Agreement. All references herein to Articles, Sections and
Schedules will, unless the context requires a different construction, be deemed to be references to the Articles and Sections of this Agreement and the Schedules attached hereto, and all such Schedules attached hereto are hereby incorporated herein
and made a part hereof for all purposes. All personal pronouns used in this Agreement, whether used in the masculine, feminine or neuter gender, include all other genders, and the singular includes the plural and vice versa. The use herein of the
word “including” following any general statement, term or matter will not be construed to limit such statement, term or matter to the specific items or matters set forth immediately following such word or to similar items or matters,
whether or not non-limiting language (such as “without limitation,” “but not limited to” or words of similar import) is used with reference thereto, but rather will be deemed to refer to
all other items or matters that could reasonably fall within the broadest possible scope of such general statement, term or matter. 
  

Section 8.4        Successors and Assigns. This Agreement will be binding upon and
inure to the benefit of the Parties and their respective successors and assigns. 
  
 Section 8.5        No Third-Party Rights. The provisions of this Agreement are intended to bind the Parties as to each other and are not intended to,
and do not create, rights in any other person or confer upon any other person any benefits, rights or remedies. No person is or is intended to be a third-party beneficiary of any of the provisions of this Agreement. 

 

Section 8.6        Counterparts. This Agreement may be executed in any number of
counterparts with the same effect as if all Parties had signed the same document. All counterparts will be construed together and constitute one and the same instrument. The delivery of an executed counterpart copy of this Agreement by facsimile or
electronic transmission in PDF format will be deemed to be the equivalent of delivery of the originally executed copy thereof. 
  

Section 8.7        Governing Law. This Agreement is governed by, and
construed in accordance with, the Laws of the state of New York, United States of America, applicable 

  
 15 

 
to contracts made and to be performed wholly within such jurisdiction without giving effect to conflict-of-Law principles thereof other than
Section 5-1401 of the New York General Obligations Law, except to the extent that it is mandatory that the Law of some other jurisdiction applies. 

 

Section 8.8        Severability. If any of the provisions of this Agreement are held
by any court of competent jurisdiction to contravene, or to be invalid under, the Laws of any governmental body having jurisdiction over the subject matter hereof, such contravention or invalidity will not invalidate the entirety of this Agreement.
Instead, this Agreement will be construed as if it did not contain the particular provision or provisions held to be invalid, and an equitable adjustment will be made and necessary provision added so as to give effect, as nearly as possible, to the
intention of the Parties as expressed in this Agreement at the time of execution of this Agreement. 
  
 Section 8.9        Deed; Bill of Sale; Assignment. To the extent required and permitted by applicable Law, this Agreement will also constitute a
“deed,” “bill of sale” or “assignment” of the interests referenced herein. 
  

Section 8.10        Amendment or Modification. This Agreement may be amended or
modified from time to time only by the written agreement of all the Parties. Each such instrument will be reduced to writing and designated on its face as an amendment to this Agreement. 
  
 Section 8.11        Integration. This Agreement and the
instruments referenced herein supersede all previous understandings or agreements among the Parties, whether oral or written, with respect to the subject matter of this Agreement and such instruments. This Agreement and such instruments contain the
entire understanding of the Parties with respect to the subject matter hereof and thereof. No understanding, representation, promise or agreement, whether oral or written, is intended to be or will be included in or form part of this Agreement
unless it is contained in a written amendment hereto executed by the Parties after the date of this Agreement. 
  

[THE REMAINDER OF THIS PAGE IS LEFT INTENTIONALLY BLANK] 

  
 16 

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

			
	HÖEGH LNG HOLDINGS LTD.
		
	 By:
	 	 
	 Name:
	 	
	 Title:
	 	
	
	HÖEGH LNG LTD.
		
	 By:
	 	 
	 Name:
	 	
	 Title:
	 	
	
	HÖEGH LNG PARTNERS LP
		
	 By:
	 	 
	 Name:
	 	 Richard Tyrrell

	 Title:
	 	 Chief Executive Officer and

Chief Financial Officer

	
	HÖEGH LNG GP LLC
		
	 By:
	 	 
	 Name:
	 	
	 Title:
	 	

  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
 SIGNATURE PAGE

 TO 
 CONTRIBUTION, PURCHASE AND SALE AGREEMENT 

 
			
	HÖEGH LNG PARTNERS OPERATING LLC
		
	 By:
	 	 
	 Name:
	 	
	 Title:
	 	

  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

SIGNATURE PAGE 
 TO 
 CONTRIBUTION, PURCHASE
AND SALE AGREEMENT 

 SCHEDULE A 
  
 FSRU-OWNING SUBSIDIARIES AND FSRUS 

 

							
	     FSRU-Owning
Subsidiary    
	    	Jurisdiction of
Registration	    	FSRU	    	Flag
				
	 SRV Joint Gas
	    	Cayman Islands	    	GDF Suez Neptune	    	Norway
				
	 SRV Joint Gas Two
	    	Cayman Islands	    	GDF Suez Cape Ann	    	Norway
				
	 PT Hoegh
	    	Indonesia	    	PGN FSRU Lampung	    	Indonesia

  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

 
  
  

SCHEDULE A 
 TO 
 CONTRIBUTION, PURCHASE
AND SALE AGREEMENTEX-10.2

 EXHIBIT 10.2 
  

 
  

OMNIBUS AGREEMENT 

AMONG 
 HÖEGH LNG
HOLDINGS LTD., 
 HÖEGH LNG PARTNERS LP, 

HÖEGH LNG GP LLC 

AND 
 HÖEGH LNG
PARTNERS OPERATING LLC 
  
  

 

 TABLE OF CONTENTS 

 

							
	ARTICLE I	  
	DEFINITIONS	  
			
	 Section 1.1.
	 	Definitions	  	 	2	  
	
	ARTICLE II	  
	FIVE-YEAR VESSEL RESTRICTED BUSINESS OPPORTUNITIES	  
			
	 Section 2.1.
	 	Five-Year Vessel Restricted Businesses	  	 	6	  
	 Section 2.2.
	 	Permitted Exceptions	  	 	6	  
	
	ARTICLE III	  
	NON-FIVE-YEAR VESSEL RESTRICTED BUSINESS OPPORTUNITIES	  
			
	 Section 3.1.
	 	Non-Five-Year Vessel Restricted Businesses	  	 	7	  
	 Section 3.2.
	 	Permitted Exceptions	  	 	8	  
	
	ARTICLE IV	  
	BUSINESS OPPORTUNITIES PROCEDURES	  
			
	 Section 4.1.
	 	Procedures	  	 	8	  
	 Section 4.2.
	 	Scope of Prohibition	  	 	10	  
	 Section 4.3.
	 	Enforcement	  	 	10	  
	
	ARTICLE V	  
	RIGHTS OF FIRST OFFER	  
			
	 Section 5.1.
	 	Rights of First Offer	  	 	11	  
	 Section 5.2.
	 	Procedures for Rights of First Offer	  	 	11	  
	
	ARTICLE VI	  
	INDEPENDENCE INTERESTS PURCHASE OPTION	  
			
	 Section 6.1.
	 	Option to Purchase the Independence Interests	  	 	12	  
	 Section 6.2.
	 	Procedures	  	 	13	  
	
	ARTICLE VII	  
	INDEMNIFICATION	  
			
	 Section 7.1.
	 	Höegh Indemnification	  	 	14	  
	 Section 7.2.
	 	Limitation Regarding Indemnification	  	 	15	  
	 Section 7.3.
	 	Indemnification Procedures	  	 	15	  
	
	ARTICLE VIII	  
	MISCELLANEOUS	  
			
	 Section 8.1.
	 	Choice of Law; Submission To Jurisdiction	  	 	16	  
	 Section 8.2.
	 	Notice	  	 	17	  
	 Section 8.3.
	 	Entire Agreement	  	 	17	  

  
 i 

 
TABLE OF CONTENTS 
 (continued) 

 

							
		 		  	 	Page	  
			
	 Section 8.4.
	 	Termination	  	 	17	  
			
	 Section 8.5.
	 	Waiver; Effect of Waiver or Consent	  	 	17	  
			
	 Section 8.6.
	 	Amendment or Modification	  	 	17	  
			
	 Section 8.7.
	 	Assignment	  	 	18	  
			
	 Section 8.8.
	 	Counterparts	  	 	18	  
			
	 Section 8.9.
	 	Severability	  	 	18	  
			
	 Section 8.10.
	 	Gender, Parts, Articles and Sections	  	 	18	  
			
	 Section 8.11.
	 	Further Assurances	  	 	18	  
			
	 Section 8.12.
	 	Withholding or Granting of Consent	  	 	18	  
			
	 Section 8.13.
	 	Laws and Regulations	  	 	18	  
			
	 Section 8.14.
	 	Negotiation of Rights of Höegh, Limited Partners, Assignees and Third Parties	  	 	18	  

  
 ii 

 OMNIBUS AGREEMENT 

THIS OMNIBUS AGREEMENT is entered into on, and effective as of, the Closing Date (as defined herein), among Höegh LNG Holdings Ltd.,
a limited company organized under the laws of Bermuda (“Höegh”), Höegh LNG Partners LP, a Marshall Islands limited partnership (the “MLP”), Höegh LNG GP LLC, a Marshall Islands limited
liability company and the general partner of the MLP (including any permitted successors and assigns under the MLP Agreement (as defined herein)) (the “General Partner”), and Höegh LNG Partners Operating LLC, a Marshall
Islands limited liability company and wholly owned subsidiary of the MLP. 
 R E C I T A L S: 

 

	1.	The Parties desire by their execution of this Agreement to evidence their understanding, as more fully set forth in Articles II and IV, with respect to (a) those business opportunities that the
Höegh Entities (as defined herein) shall not pursue during the term of this Agreement and (b) the procedures whereby such business opportunities are to be offered to the Partnership Group (as defined herein) and accepted or declined.

  

	2.	The Parties desire by their execution of this Agreement to evidence their understanding, as more fully set forth in Articles III and IV, with respect to (a) those business opportunities that the
Partnership Group shall not pursue during the term of this Agreement and (b) the procedures whereby such business opportunities are to be offered to Höegh and accepted or declined. 

 

	3.	The Parties desire by their execution of this Agreement to evidence their understanding, as more fully set forth in Article V, with respect to (a) Höegh’s right of first offer relating to Five-Year
Vessels (as defined herein) or Non-Five-Year Vessels (as defined herein) owned by the MLP and (b) the MLP’s right of first offer relating to Five-Year Vessels that Höegh might own. 

 

	4.	The Parties desire by their execution of this Agreement to evidence their understanding, as more fully set forth in Article VI, with respect to the rights of the MLP to purchase the Independence Interests (as
defined herein) from Höegh. 

  

	5.	The Parties desire by their execution of this Agreement to evidence their understanding, as more fully set forth in Section 6.2(c)(ii) and Article VII, with respect to certain indemnification
obligations of Höegh. 	 

  
 1 

 In consideration of the premises and the covenants, conditions and agreements contained herein,
and for other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the Parties hereby agree as follows: 

ARTICLE I 
 DEFINITIONS

 Section 1.1. Definitions. As used in this Agreement, the following terms have the respective meanings set forth below: 

“ABKN” means AB Klaipèdos Nafta, the charterer of the Independence after its delivery. 

“Acquiring Party” has the meaning given such term in Section 4.1. 

“Affiliate” means, with respect to any Person, any other Person that directly or indirectly through one
or more intermediaries controls, is controlled by or is under common control with, the Person in question. As used herein, the term “control” means the possession, direct or indirect, of the power to direct or cause the
direction of the management and policies of a Person, whether through ownership of Voting Securities, by contract or otherwise. 

“Agreement” means this Omnibus Agreement, as it may be amended, modified or supplemented from time to time in
accordance with Section 8.6. 
 “Applicable Independence Interests” has the meaning given such term in
Section 6.1(a). 
 “Board” means the Board of Directors of the MLP. 

“Break-up Costs” means the aggregate amount of any and all additional taxes, flag administration, financing, legal and
other similar costs (except with respect to Section 2.2(b) where Break-up Costs are deemed to include only administrative costs associated with transfer and re-flagging, including related legal costs) to (a) the Höegh
Entities that would be required to transfer Five-Year Vessels acquired by the Höegh Entities as part of a larger transaction to a Partnership Group Member pursuant to Section 2.2(b) or 2.2(d)(i) or (b) the
Partnership Group that would be required to transfer Non-Five-Year Vessels acquired by the Partnership Group as part of a larger transaction to a Höegh Entity pursuant to Section 3.2(b)(i). 

“Change of Control” means, with respect to any Person (the “Applicable Person”),
any of the following events: (a) any sale, lease, exchange or other transfer (in one transaction or a series of related transactions) of all or substantially all of the Applicable Person’s assets to any other Person, unless immediately
following such sale, lease, exchange or other transfer such assets are owned, directly or indirectly, by the Applicable Person; (b) the consolidation or merger of the Applicable Person with or into another Person pursuant to a transaction in
which the outstanding Voting Securities of the Applicable Person are changed into or exchanged for cash, securities or other property, other than any such transaction where (i) the outstanding Voting Securities of the Applicable Person are
changed into or exchanged for Voting Securities of the surviving Person or its parent and (ii) the holders of the Voting Securities of the Applicable Person immediately prior to such transaction own, directly or indirectly, not less than a
majority of the outstanding Voting Securities of the surviving Person or its parent immediately after such transaction; and (c) a “person” or “group” (within the meaning of
Section 13(d) or 14(d)(2) of the Exchange Act), other than Höegh or its Affiliates with respect to the General Partner, being or becoming the “beneficial owner” (as defined in Rules 13d-3 and 13d-5 under the
Exchange Act) of more than 50% of all of the then outstanding Voting Securities of the Applicable Person, except in a merger or consolidation that would not constitute a Change of Control under clause (b) above. 

  
 2 

 “Closing Date” means
[—], 2014, the date of the closing of the initial public offering of common units representing limited partner interests in the MLP. 

“Conflicts Committee” means the Conflicts Committee of the Board. 

“Contribution Assets” has the meaning given such term in Section 7.1. 

“Covered Environmental Losses” means all Losses suffered or incurred by the Partnership Group by reason
of, arising out of or resulting directly from: 
 (i) any violation or correction of violation of
Environmental Laws; or 
 (ii) any event or condition relating to environmental or human health and safety matters, in each
case, associated with the ownership or operation by the Partnership Group or the Höegh Entities of the Contribution Assets (including, without limitation, the presence of Hazardous Substances on, under, about or migrating to or from the
Contribution Assets or the disposal or release of, or exposure to, Hazardous Substances generated by or otherwise related to operation of the Contribution Assets), including, without limitation, the reasonable and documented cost and expense of
(a) any investigation, assessment, evaluation, monitoring, containment, cleanup, repair, restoration, remediation or other corrective action required or necessary under Environmental Laws, (b) the preparation and implementation of any
closure, remedial, corrective action or other plans required or necessary under Environmental Laws and (c) any environmental or toxic tort (including, without limitation, personal injury or property damage claims) pre-trial, trial or appellate
legal or litigation support work; 
 but only to the extent that such violation complained of under clause (i), or such events or conditions included
in clause (ii), occurred before the Closing Date; and, provided that, in no event will Losses to the extent arising from a change in any Environmental Law after the Closing Date be deemed “Covered Environmental
Losses.” 
 “Environmental Laws” means all international, federal, state, foreign and
local laws, statutes, rules, regulations, treaties, conventions, orders, judgments and ordinances having the force and effect of law and relating to protection of natural resources, health and safety and the environment, each in effect and as
amended through the Closing Date. 
 “Exchange Act” means the Securities Exchange Act of
1934, as amended. 
 “First Offer Negotiation Period” has the meaning given such term in
Section 5.2(c). 
 “Five-Year Vessel” means any LNG Carrier or FSRU that has
commenced operating under a charter for a remaining period, not including options, of five or more years, together with the related charter and any ancillary installations or equipment also covered by that charter. 

  
 3 

 “FSRU” means a floating storage and regasification
unit. 
 “General Partner” has the meaning given such term in the introduction to this
Agreement. 
 “Hazardous Substances” means (a) each substance defined, designated
or classified as a hazardous waste, hazardous substance, hazardous material, solid waste, contaminant or toxic substance under Environmental Laws; (b) petroleum and petroleum products, including crude oil and any fractions thereof;
(c) natural gas, synthetic gas and any mixtures thereof; (d) any radioactive material; and (e) any asbestos-containing materials in a friable condition. 

“Höegh” has the meaning given such term in the introduction to this Agreement. 

“Höegh Entities” means Höegh and any Person controlled, directly or indirectly, by Höegh,
other than the Partnership Entities. 
 “Höegh Potential Transferee” has the
meaning given such term in Section 5.2(b). 
 “Höegh Sale Assets”
has the meaning given such term in Section 5.2(b). 
 “Höegh Transfer
Notice” has the meaning given such term in Section 5.2(b). 
 “Höegh
Transferring Party” has the meaning given such term in Section 5.2(b). 

“Independence” means the newbuild FSRU that, upon delivery, will operate under a time charter with
ABKN. 
 “Independence Interests” means all of Höegh’s rights, title and
interests in the Independence, including interests in any Höegh Entity holding interests in the Independence and any charters or other agreements relating to the operation of
the Independence then in effect. 
 “LNG Carrier”
means a liquefied natural gas carrier. 
 “Losses” means losses, damages, liabilities,
claims, demands, causes of action, judgments, settlements, fines, penalties, costs and expenses (including, without limitation, court costs and reasonable attorneys’ and experts’ fees) of any and every kind or character; provided, however,
that such term does not include any special, indirect, incidental or consequential damages. 

“MLP” has the meaning given such term in the introduction to this Agreement. 

“MLP Agreement” means the First Amended and Restated Agreement of Limited Partnership of the MLP, dated
as of [—], 2014, as such agreement is in effect on the Closing Date, to which reference is hereby made for all purposes of this Agreement. No amendment or modification to the MLP Agreement
subsequent to the Closing Date will be given effect for purposes of this Agreement unless consented to by each of the Parties. 

  
 4 

 “Non-Five-Year Vessel” means any LNG Carrier or FSRU that
is not a Five-Year Vessel. 
 “Offer” has the meaning given such term in Section 4.1. 

“Offer Period” has the meaning given such term in Section 4.1. 

“Offered Assets” has the meaning given such term in Section 4.1. 

“Offeree” has the meaning given such term in Section 4.1. 

“Parties” means the parties to this Agreement and their successors and permitted assigns.

 “Partnership Entities” means the General Partner, the MLP and any Person controlled by any
such entity. 
 “Partnership Group” means the MLP and any Person controlled by any such
entity. 
 “Partnership Group Member” means any Person in the Partnership Group.

 “Partnership Potential Transferee” has the meaning given such term in Section
5.2(a). 
 “Partnership Sale Assets” has the meaning given such term in Section
5.2(a). 
 “Partnership Transfer Notice” has the meaning given such term in
Section 5.2(a). 
 “Partnership Transferring Party” has the meaning given such
term in Section 5.2(a). 
 “Person” means an individual, corporation,
partnership, joint venture, trust, limited liability company, unincorporated organization or any other entity. 

“PGN” means PT PGN LNG Indonesia, a limited liability company established under the laws of
Indonesia. 
 “PGN FSRU Lampung” means the floating storage and regasification unit
PGN FSRU Lampung.  
 “PGN FSRU LOM” means the
Amendment and Restatement Agreement of the Original Lease, Operation and Maintenance Agreement dated January 25, 2012, between PT Perusahaan Gas Negara (Persero) Tbk and Höegh LNG Ltd., dated October 17, 2012, as novated by the
Novation Agreement for Amended & Restated Lease, Operating & Maintenance Agreement, dated September 18, 2013, between PT Perusahaan Gas Negara (Persero) Tbk, Höegh LNG Ltd. and PT Hoegh LNG Lampung, as novated by the
Novation Agreement for Amended and Restated Lease, Operating & Maintenance Agreement, dated February 21, 2014, among PT Perusahaan Gas Negara (Persero) Tbk, PT PGN LNG Indonesia and PT Hoegh LNG Lampung, as further amended,
novated or modified from time to time. 

  
 5 

 “Potential Transferee” has the meaning given such term in
Section 5.2(b). 
 “Sale Assets” has the meaning given such term in Section 5.2(b).

 “Transfer” means any transfer, assignment, sale or other disposition of any Non-Five-Year Vessel by a Höegh
Entity or of any Five-Year Vessel or Non-Five-Year Vessel by a Partnership Group Member; provided, however, that such term does not include: (a) transfers, assignments, sales or other dispositions from a Höegh Entity to
another Höegh Entity, or from a Partnership Group Member to another Partnership Group Member; (b) transfers, assignments, sales or other dispositions pursuant to the terms of any related charter or other agreement with a charter party;
(c) transfers, assignments, sales or other dispositions pursuant to Article II or III; or (d) grants of security interests in or mortgages or liens on such Five-Year Vessels or Non-Five-Year Vessels in favor of a bona fide
third-party lender and the foreclosing of any such security interest, mortgage or lien or other exercise of remedies by a bona fide third-party lender. 

“Transfer Notice” has the meaning given such term in Section 5.2(b). 

“Transferring Party” has the meaning given such term in Section 5.2(b). 

“Voting Securities” means securities of any class of Person entitling the holders thereof to vote in the
election of members of the board of directors or other similar governing body of the Person. 
 ARTICLE II 

FIVE-YEAR VESSEL RESTRICTED BUSINESS OPPORTUNITIES 

Section 2.1. Five-Year Vessel Restricted Businesses. Subject to Section 8.4 and except as permitted by
Section 2.2, each of the Höegh Entities shall be prohibited from acquiring, owning, operating or chartering Five-Year Vessels. 

Section 2.2. Permitted Exceptions. Notwithstanding any provision of Section 2.1 to the contrary, the restrictions in
this Agreement do not prevent any Höegh Entity from: 
 (a) acquiring, owning, operating or chartering any Non-Five-Year Vessel; 

(b) acquiring one or more Five-Year Vessels if such Höegh Entity offers to sell the vessel to the MLP for the acquisition price plus any
Break-up Costs in accordance with the procedures set forth in Section 4.1; 
 (c) delivering a Non-Five-Year Vessel under
charter for five or more years if such Höegh Entity offers to sell the vessel to the MLP for fair market value (x) after the time it becomes a Five-Year Vessel and (y) at each renewal or extension of that charter for five or more
years, in each case in accordance with the procedures set forth in Section 4.1; 

  
 6 

 (d) acquiring one or more Five-Year Vessels as part of the acquisition of a controlling interest
in a business or package of assets and owning, operating or chartering such Five-Year Vessel(s); provided, however, that: 

(i) if less than a majority of the value of the business or assets acquired is attributable to Five-Year Vessels, as determined
in good faith by Höegh’s board of directors, the Höegh Entity must offer to sell such Five-Year Vessel(s) to the MLP for their fair market value plus any Break-up Costs in accordance with the procedures set forth in
Section 4.1; and 
 (ii) if a majority or more of the value of the business or assets acquired is attributable to
Five-Year Vessels, as determined in good faith by Höegh’s board of directors, Höegh shall notify the MLP of the proposed acquisition in writing. The MLP shall, not later than the
10th calendar day following receipt of such notice, notify Höegh if it or any other Partnership Group Member wishes to acquire any Five-Year Vessel forming part of that business or package of
assets in cooperation and simultaneously with the Höegh Entity acquiring the Non-Five-Year Vessels forming part of that business or package of assets. If the MLP does not notify Höegh of its intent to pursue the acquisition within such 10
calendar days, the Höegh Entity may proceed with the acquisition and then offer to sell such vessels to the MLP as provided in Section 2.2(d)(i); 

(e) acquiring a non-controlling interest in any company, business or pool of assets; 

(f) acquiring, owning, operating or chartering any Five-Year Vessel if the MLP does not fulfill its obligation to purchase such Five-Year
Vessel in accordance with the terms of any existing or future agreement; 
 (g) acquiring, owning, operating or chartering any Five-Year
Vessel that is subject to an offer to purchase by a Partnership Group Member as described in Sections 2.2(b), 2.2(c) and 2.2(d), in each case pending the offer of such Five-Year Vessel to the MLP and the MLP’s
determination pursuant to Section 4.1 whether to purchase the Five-Year Vessel and, if the MLP has determined to purchase or to cause any Partnership Group Member to purchase such Five-Year Vessel, pending the closing of such purchase;

 (h) providing ship management services relating to any vessel; 

(i) subject to Section 6.1, owning or operating any Five-Year Vessel that Höegh owns on the Closing Date and that is not part
of the Partnership Group’s initial fleet on the Closing Date; or 
 (j) acquiring, owning, operating or chartering any Five-Year Vessel
if the MLP has previously advised Höegh that it consents to such acquisition, operation or charter. 
 ARTICLE III 

NON-FIVE-YEAR VESSEL RESTRICTED BUSINESS OPPORTUNITIES 

Section 3.1. Non-Five-Year Vessel Restricted Businesses. Subject to Section 8.4 and except as permitted by
Section 3.2, each Partnership Group Member shall be prohibited from acquiring, owning, operating or chartering Non-Five-Year Vessels. 

  
 7 

 Section 3.2. Permitted Exceptions. Notwithstanding any provision of
Section 3.1 to the contrary, the restrictions in this Agreement shall not prevent any Partnership Group Member from: 
 (a)
owning, operating or chartering any Non-Five-Year Vessel that was previously a Five-Year Vessel while owned by any Partnership Group Member; 

(b) acquiring one or more Non-Five-Year Vessels as part of the acquisition of a controlling interest in a business or package of assets and
owning, operating or chartering those Non-Five-Year Vessels; provided, however, that: 
 (i) if less than a majority of the
value of the business or assets acquired is attributable to Non-Five-Year Vessels, as determined in good faith by the Board, such Partnership Group Member must offer to sell such Non-Five-Year Vessels to Höegh for their fair market value plus
any applicable Break-up Costs in accordance with the procedures set forth in Section 4.1; and 
 (ii) if a
majority or more of the value of the business or assets acquired is attributable to Non-Five-Year Vessels, as determined in good faith by the Board, the MLP shall notify Höegh of the proposed acquisition in writing. Höegh shall, not later
than the 10th calendar day following receipt of such notice, notify the MLP if it or any other Höegh Entity wishes to acquire any Non-Five-Year Vessel forming part of that business or package
of assets in cooperation and simultaneously with the Partnership Group Member acquiring the Five-Year Vessels forming part of that business or package of assets. If Höegh does not notify the MLP of its intent to pursue the acquisition within
such 10 calendar days, the Partnership Group Member may proceed with the acquisition and then offer to sell such Non-Five-Year Vessels to Höegh as provided in Section 3.2(b)(i); 

(c) acquiring, owning, operating or chartering any Non-Five-Year Vessel that is subject to an offer to purchase by a Höegh Entity as
described in Section 3.2(b) pending the offer of such Non-Five-Year Vessel to Höegh and Höegh’s determination pursuant to Section 4.1 whether to purchase the Five-Year Vessel and, if Höegh has determined
to purchase or cause any Höegh Entity to purchase such Five-Year Vessel, pending the closing of such purchase; or 
 (d) acquiring,
owning, operating or chartering Non-Five-Year Vessels if Höegh has previously advised the MLP that it consents to such acquisition, ownership, operation or charter. 

ARTICLE IV 
 BUSINESS
OPPORTUNITIES PROCEDURES 
 Section 4.1. Procedures. In the event that (a) a Partnership Group Member acquires,
operates or puts under charter Non-Five-Year Vessels in accordance with Section 3.2(b)(i), or (b) a Höegh Entity acquires, operates or puts under charter Five-Year Vessels in accordance with Section 2.2(b),
2.2(c) or 2.2(d)(i), then simultaneously or in any event not later than 30 calendar days after the consummation of the acquisition or the commencement of operations or charter, such acquiring Party (the “Acquiring
Party”) shall notify (a) Höegh, in the case of an acquisition 

  
 8 

 
by a Partnership Group Member, or (b) the Board, in the case of an acquisition by a Höegh Entity, and offer such party to be notified (each an “Offeree”)
the opportunity for any Höegh Entity or Partnership Group Member, as applicable, to purchase such Non-Five-Year Vessels or Five-Year Vessels, as applicable (the “Offered Assets”), for their fair market value (or, in the
case of an acquisition in accordance with Section 2.2(b), the acquisition price) plus, in the case of an acquisition in accordance with Section 2.2(b), 2.2(d)(i) or 3.2(b)(i), any applicable Break-up Costs, in
each case on commercially reasonable terms in accordance with this Section 4.1 (the “Offer”). The Offer will set forth the Acquiring Party’s proposed terms relating to the purchase of the Offered Assets by
the applicable Höegh Entity or Partnership Group Member, including any liabilities to be assumed by the applicable Höegh Entity or Partnership Group Member as part of the Offer. As soon as practicable after the Offer is made, the Acquiring
Party shall deliver to the Offeree all information prepared by or on behalf of or in the possession of such Acquiring Party relating to the Offered Assets and reasonably requested by the Offeree. As soon as practicable, but in any event, within 30
calendar days after receipt of the Offer, the Offeree shall notify the Acquiring Party in writing that either: 
 (a)
Höegh has elected not to purchase (or not to cause any of its permitted Affiliates to purchase) or the Board has elected not to cause any Partnership Group Member to purchase, as applicable, such Offered Assets, in which event the Acquiring
Party and its Affiliates will, subject to the other terms of this Agreement (including Section 2.2(b)), be forever free, subject to the provisions of this Agreement, to continue to own, operate and charter such Offered Assets; or 

(b) Höegh has elected to purchase (or to cause any of its permitted Affiliates to purchase) or the Board has elected to cause any
Partnership Group Member to purchase, as applicable, such Offered Assets, in which event the following procedures will be followed: 

(i) After the receipt of the Offer by the Offeree, the Acquiring Party and the Offeree shall negotiate in good
faith regarding the fair market value (and any applicable Break-up Costs) of the Offered Assets that are subject to the Offer and the other terms of the Offer on which the Offered Assets will be sold to the applicable Höegh Entity or
Partnership Group Member. If the Acquiring Party and the Offeree agree on the fair market value (and any applicable Break-up Costs) of the Offered Assets that are subject to the Offer and the other terms of the Offer during the 30-calendar-day
period (the “Offer Period”) after receipt by the Acquiring Party of Höegh’s election to purchase (or election to cause any of its permitted Affiliates to purchase) or of the Board’s election to cause any
Partnership Group Member to purchase, as applicable, the Offered Assets, Höegh shall purchase (or cause any of its permitted Affiliates to purchase) or the Board shall cause any Partnership Group Member to purchase, as applicable, the Offered
Assets on such terms as soon as commercially practicable after such agreement has been reached. 
 (ii) If the
Acquiring Party and the Offeree are unable to agree on the fair market value (and any applicable Break-up Costs) of the Offered Assets that are subject to the Offer or on any other terms of the Offer during the Offer Period, the Acquiring Party and
the Offeree shall engage a mutually-agreed-upon investment banking firm, ship broker or other expert advisor prior to the end of the Offer Period to determine the fair market value of the Offered Assets and/or the other terms on which the Acquiring
Party 

  
 9 

 
and the Offeree are unable to agree. In determining the fair market value of the Offered Assets and other terms on which the Offered Assets are to be sold, the investment banking firm, ship
broker or other expert advisor, as applicable, will have access to the proposed sale and purchase values and terms for the Offer submitted by the Acquiring Party and the Offeree, respectively, and to all information prepared by or on behalf of the
Acquiring Party relating to the Offered Assets and reasonably requested by such investment banking firm, ship broker or other expert advisor. Such investment banking firm, ship broker or other expert advisor will determine the fair market value (and
any applicable Break-up Costs) of the Offered Assets and/or the other terms on which the Acquiring Party and the Offeree are unable to agree within 30 calendar days of its engagement and furnish the Acquiring Party and the Offeree its determination.
The fees and expenses of the investment banking firm, ship broker or other expert advisor, as applicable, will be divided equally between the Acquiring Party and the Offeree. Upon receipt of such determination, the Offeree will have the option, but
not the obligation: 
 (A) in the case that the Offeree is Höegh, to purchase or cause any of its permitted Affiliates
to purchase, or in the case that the Offeree is the Board, to cause any Partnership Group Member to purchase the Offered Assets for the fair market value (and any applicable Break-up Costs), and on the other terms determined by the ship broker or
investment banking firm, as soon as commercially practicable after determinations have been made; or 
 (B) in the case that
the Offeree is Höegh, to elect not to cause any of its permitted Affiliates to purchase, or in the case that the Offeree is the Board, not to cause any Partnership Group Member to purchase such Offered Assets, in which event the Acquiring Party
and its Affiliates will, subject to the other terms of this Agreement, be forever free to continue to own and operate such Offered Assets. 

Section 4.2. Scope of Prohibition. If any Party or its Affiliates engages in the ownership or operation of Five-Year Vessels in
the case of a Höegh Entity, or Non-Five-Year Vessels in the case of a Partnership Group Member, pursuant to any of the exceptions described in Section 2.2 or 3.2, as applicable, the Party and its Affiliates may not
subsequently expand that portion of their business other than pursuant to the exceptions contained in such Section 2.2 or 3.2. Except as otherwise provided in this Agreement or the MLP Agreement, each Party and its Affiliates will
be free to engage in any business activity whatsoever, including those that may be in direct competition with the Höegh Entities or the Partnership Group Members. 

Section 4.3. Enforcement. Each Party agrees and acknowledges that the other Parties do not have an adequate remedy at law for the
breach by any such Party of its covenants and agreements set forth in this Article IV, and that any breach by any such Party of its covenants and agreements set forth in this Article IV would result in irreparable injury to such other
Parties. Each Party further agrees and acknowledges that any other Party may, in addition to the other remedies which may be available to such other Party, file a suit in equity to enjoin such Party from such breach, and consent to the issuance of
injunctive relief to enforce the provisions of this Article IV. 

  
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 ARTICLE V 

RIGHTS OF FIRST OFFER 

Section 5.1. Rights of First Offer. 

(a) The Partnership Group hereby grants Höegh a right of first offer on any proposed Transfer by any Partnership Group Member of any
Five-Year Vessels or any Non-Five-Year Vessels owned or acquired by any Partnership Group Member. With respect to any such proposed Transfer, the Partnership Group need not offer any particular Five-Year Vessel or Non-Five-Year Vessel to Höegh
if Höegh has previously advised the MLP that it does not wish to acquire such vessel. 
 (b) The Höegh Entities hereby grant the
MLP a right of first offer on any proposed Transfer of any Five-Year Vessels owned or acquired by any Höegh Entity. With respect to any such proposed Transfer, the Höegh Entities need not offer any particular Five-Year Vessel to the MLP if
the MLP has previously advised the Höegh Entities that it does not wish to acquire such vessel. 
 (c) The Parties acknowledge that all
potential Transfers of Five-Year Vessels or Non-Five-Year Vessels pursuant to this Article V are subject to obtaining any and all written consents of governmental authorities and other non-affiliated third parties (including, without
limitation, lenders and other providers of financing) and to the terms of all agreements (including, without limitation, debt and other financing arrangements) in respect of such Five-Year Vessels or Non-Five-Year Vessels, as applicable. 

Section 5.2. Procedures for Rights of First Offer. 

(a) In the event that a Partnership Group Member (a “Partnership Transferring Party”) proposes to
Transfer any Non-Five-Year Vessels (the “Partnership Sale Assets”), prior to engaging in any negotiation for such Transfer with any non-affiliated third party or otherwise offering to Transfer the Partnership Sale Assets to
any non-affiliated third party, such Partnership Transferring Party shall give Höegh (a “Partnership Potential Transferee”), written notice setting forth all material terms and conditions (including, without limitation,
the purchase price or the terms of the charter agreement and a description of the Partnership Sale Asset(s) on which such Partnership Transferring Party desires to Transfer the Partnership Sale Assets) (a “Partnership Transfer
Notice”). 
 (b) In the event that a Höegh Entity (a “Höegh Transferring Party”
and, together with a Partnership Transferring Party, a “Transferring Party”) proposes to Transfer any Five-Year Vessels (the “Höegh Sale Assets” and, together with the Partnership Sale Assets, the
“Sale Assets”), prior to engaging in any negotiation for such Transfer with any non-affiliated third party or otherwise offering to Transfer the Höegh Sale Assets to any non-affiliated third party, such Höegh
Transferring Party shall give the MLP (a “Höegh Potential Transferee” and, together with a Partnership Potential Transferee, a “Potential Transferee”), written notice setting forth all material
terms and conditions (including, without limitation, the purchase price or the terms of the charter agreement and a description of the Höegh Sale Asset(s) on which such Höegh Transferring Party desires to Transfer the Höegh Sale
Assets) (a “Höegh Transfer Notice” and, together with a Partnership Transfer Notice, each a “Transfer Notice”). 

  
 11 

 (c) After delivery of a Transfer Notice, the Transferring Party then shall be obligated to
negotiate in good faith for a 30-calendar-day period following the delivery by the Transferring Party of the Transfer Notice (the “First Offer Negotiation Period”) to reach an agreement for the Transfer of such Sale Assets to
the Potential Transferee or any of its Affiliates on the terms and conditions set forth in the Transfer Notice. If no such agreement with respect to the Sale Assets is reached during the First Offer Negotiation Period, and the Transferring Party has
not Transferred, or agreed in writing to Transfer, such Sale Assets to a third party within 180 calendar days after the end of the First Offer Negotiation Period on terms generally no less favorable to the Transferring Party than those included in
the Transfer Notice, then the Transferring Party shall not thereafter Transfer any of the Sale Assets without first offering such assets to the applicable Potential Transferee in the manner provided above. 

ARTICLE VI 
 INDEPENDENCE
INTERESTS PURCHASE OPTION 
 Section 6.1. Option to Purchase the Independence Interests. 

(a) Subject to ABKN’s purchase option rights under the existing charter for the Independence, Höegh hereby grants to the
Partnership Group the right and option to purchase, in one or more transactions and subject to no condition other than as set forth in Section 6.1(b), for fair market value at any time within 24 months after Höegh notifies the Board
pursuant to Section 6.2(a) that the Independence has been accepted by ABKN, all or a portion of the Independence Interests (such interests, the “Applicable Independence Interests”). For the avoidance of
doubt, if the Partnership Group purchases a portion, but not all, of the Independence Interests in accordance with this Article VI, the Partnership Group has the right and option to purchase, in one or more transactions and subject to no
condition other than as set forth in Section 6.1(b), for fair market value at any time within 24 months after Höegh notifies the Board pursuant to Section 6.2(a) that the Independence has been accepted by ABKN,
all or a portion of the remaining Independence Interests. 
 (b) The Parties acknowledge that the potential transfer of the Applicable
Independence Interests pursuant to this Article VI is subject to obtaining any and all written consents of governmental authorities and other third parties, including providers of financing and other holders of security interests in the
Applicable Independence Interests, and to the terms of all agreements existing as of the date hereof in respect of the Applicable Independence Interests including, without limitation, (i) any rights of first refusal of the parties to such
agreements to purchase the Applicable Independence Interests and (ii) any rights of lenders or other providers of financing. Höegh hereby covenants and agrees to use its reasonable efforts to obtain any such consents required to be
obtained by it in connection with the transfer of the Applicable Independence Interests pursuant to this Article VI. 

  
 12 

 Section 6.2. Procedures. 

(a) Not later than 30 calendar days after the date of acceptance of the Independence by ABKN, Höegh shall notify the Board and
offer the Board the opportunity to cause any Partnership Group Member to purchase the Applicable Independence Interests for fair market value pursuant to Section 6.1(a). 

(b) If a Partnership Group Member decides to exercise the option to purchase the Applicable Independence Interests, it shall provide written
notice to Höegh of such exercise, the fair market value it proposes to pay for the Applicable Independence Interests, and the other material terms of the purchase. The decision to purchase the Applicable Independence Interests, the fair market
value to be paid for the Applicable Independence Interests, and the other terms of the purchase will be approved by the Conflicts Committee. If the Partnership Group Member and Höegh are unable to agree on the fair market value of the
Applicable Independence Interests and/or the other material terms, the Partnership Group Member and Höegh shall engage a mutually-agreed-upon investment banking firm, ship broker or other expert advisor to determine the fair market value of the
Applicable Independence Interests and/or the other material terms on which the Partnership Group Member and Höegh are unable to agree. In determining the fair market value of the Applicable Independence Interests and/or the other material terms
on which the Applicable Independence Interests are to be sold, the investment banking firm, ship broker or other expert advisor, as applicable, will have access to the proposed sale and purchase values and terms for the offer submitted by the
Partnership Group Member and Höegh, respectively, and to all information prepared by or on behalf of the Partnership Group Member and Höegh with respect to the Applicable Independence Interests and reasonably requested by such investment
banking firm, ship broker or other expert advisor. Such investment banking firm, ship broker or other expert advisor will determine the fair market value of the Applicable Independence Interests and/or the other terms on which the Partnership Group
Member and Höegh are unable to agree within 30 calendar days of its engagement and furnish the Partnership Group Member and Höegh its determination. The fees and expenses of the investment banking firm, ship broker or other expert advisor,
as applicable, will be divided equally between the Partnership Group Member and Höegh. Upon receipt of such determination, the Partnership Group Member will have the option, but not the obligation, to purchase the Applicable Independence
Interests for the fair market value and on the other terms, which includes those specified in Section 6.2(c)(i) through Section 6.2(c)(vi), as determined by the investment banking firm, ship broker or other expert advisor, as
soon as commercially practicable after determinations have been made. 
 (c) If a Partnership Group Member chooses to exercise its option to
purchase the Applicable Independence Interests under Section 6.2(a), the applicable parties shall enter into a purchase and sale agreement for the purchase and sale of the Applicable Independence Interests pursuant to which Höegh
shall be obligated to sell the Applicable Independence Interests to the Partnership Group Member and the Partnership Group Member shall be obligated to purchase the Applicable Independence Interests from Höegh. The terms of the purchase and
sale agreement will include the following: 
 (i) the Partnership Group Member shall deliver a cash purchase price (unless
the Partnership Group Member and Höegh agree that the consideration will be paid by means of equity of the MLP, an interest-bearing promissory note or other form of consideration); 

  
 13 

 (ii) the Partnership Group will be entitled to the benefit of the indemnification
contained in Article VII for the remaining term of such indemnification with respect to events or conditions associated with the operation of the Independence and occurring before the date of acquisition of the Applicable Independence
Interests by the Partnership Group Member; 
 (iii) Höegh shall provide customary representations and warranties with
respect to title to the Applicable Independence Interests and any other such matters as the Partnership Group Member may approve, which approval will not be unreasonably withheld; 

(iv) Höegh shall grant to the Partnership Group Member the right, exercisable at the Partnership Group Member’s risk
and expense, to make such surveys, tests and inspections of the Independence as the Partnership Group Member may deem desirable, so long as such surveys, tests or inspections do not damage the Independence or interfere with the
activities of the Höegh Entities or ABKN thereon and so long as the Partnership Group Member has furnished Höegh with evidence that adequate liability insurance is in full force and effect; 

(v) the Partnership Group Member will have the right to terminate its obligation to purchase the Applicable Independence
Interests under this Article VI and the related purchase and sale agreement if the results of any searches, surveys, tests or inspections conducted pursuant to Section 6.2(c)(iv) are, in the reasonable opinion of the Partnership
Group, unsatisfactory; and 
 (vi) neither Höegh nor the applicable Partnership Group Member will have any obligation to
sell or buy the Applicable Independence Interests if any of the consents referred to in Section 6.1(b) have not been obtained. 

(d) If the Board, on behalf of a Partnership Group Member, chooses or is deemed to have chosen not to exercise its option to purchase all of
the Independence Interests within 24 months after Höegh notifies the Board pursuant to Section 6.2(a) that the Independence has been accepted by ABKN, all future rights to purchase any of the Independence Interests by
the Partnership Group will be extinguished. 
 ARTICLE VII 

INDEMNIFICATION 

Section 7.1. Höegh Indemnification. Subject to the provisions of Section 7.2 and Section 7.3, Höegh shall indemnify,
defend and hold harmless the Partnership Group from and against: (a) any Covered Environmental Losses relating to the assets contributed by the Höegh Entities to the Partnership Group prior to or on the Closing Date (the
“Contribution Assets”) to the extent that Höegh is notified by the MLP of any such Covered Environmental Losses within five years after the Closing Date; (b) Losses to the Partnership Group arising from (i) the
failure 

  
 14 

 
of the Partnership Group, immediately after the Closing Date, to be the owner of such valid leasehold interests or fee ownership interests in and to the Contribution Assets as are necessary to
enable the Partnership Entities to own and operate the Contribution Assets in substantially the same manner that the Contribution Assets were owned and operated by the Höegh Entities immediately prior to the respective dates on which each such
Contribution Asset was acquired by the Partnership Entities or (ii) the failure of the Partnership Entities to have by the Closing Date any governmental or third-party consent or governmental permit necessary to allow the Partnership Entities
to own or operate the Contribution Assets from the Closing Date in substantially the same manner that the Contribution Assets were owned and operated by the Höegh Entities immediately prior to the respective dates on which each such
Contribution Asset was acquired by the Partnership Entities, in each of clauses (i) and (ii) above, to the extent that Höegh is notified by the MLP of such Losses within three years after the Closing Date; (c) all
federal, state, foreign and local income tax liabilities attributable to the operation of the Contribution Assets prior to the Closing Date, including any such income tax liabilities of the Höegh Entities that may result from the consummation
of the formation transactions for the Partnership Group and the MLP, but excluding any federal, state, foreign and local income taxes reserved on the books of the Partnership Group on the Closing Date; and (d) Losses (i) in the event hire
rate payments under the PGN FSRU LOM are not received from PGN with respect to the period commencing on the Closing Date through the earlier of (x) the date of acceptance of the PGN FSRU Lampung pursuant to the PGN FSRU LOM and
(y) termination of the PGN FSRU LOM for failure to receive PGN’s acceptance of the PGN FSRU Lampung, (ii) with respect to the obligation to pay Delay Liquidated Damages (as defined in the PGN FSRU LOM) to PGN pursuant to
Section 6.4 of the PGN FSRU LOM and (iii) with respect to any non-budgeted expenses (including repair costs) incurred in connection with the PGN FSRU Lampung project (including the construction of the related tower yoke mooring system)
occuring prior to the date of acceptance of the PGN FSRU Lampung pursuant to the PGN FSRU LOM. 
 Section 7.2. Limitation
Regarding Indemnification. The aggregate liability of Höegh under Section 7.1(a) will not exceed $5,000,000. Furthermore, no claim may be made against Höegh for indemnification pursuant to Section 7.1(a), unless
the aggregate dollar amount of all claims for indemnification pursuant to such section exceeds $500,000, in which case Höegh shall be liable for claims for indemnification only to the extent such aggregate amount exceeds $500,000. 

Section 7.3. Indemnification Procedures. 

(a) The Partnership Group Members agree that within a reasonable period of time after they become aware of facts giving rise to a claim for
indemnification pursuant to Section 7.1, they shall provide notice thereof in writing to Höegh specifying the nature of and specific basis for such claim. 

(b) Höegh will have the right to control all aspects of the defense of (and any counterclaims with respect to) any claims brought against
the Partnership Group that are covered by the indemnification set forth in Section 7.1, including, without limitation, the selection of counsel, determination of whether to appeal any decision of any court and the settling of any such
matter or any issues relating thereto; provided, however, that no such settlement will be entered into without the consent (which consent will not be unreasonably withheld) of the Partnership Group unless it includes a full release of
the Partnership Group from such matter or issues, as the case may be. 

  
 15 

 (c) The Partnership Group Members agree to cooperate fully with Höegh with respect to all
aspects of the defense of any claims covered by the indemnification set forth in Section 7.1, including, without limitation, the prompt furnishing to Höegh of any correspondence or other notice relating thereto that the Partnership
Group may receive, permitting the names of the members of the Partnership Group to be utilized in connection with such defense, the making available to Höegh of any files, records or other information of the Partnership Group that Höegh
considers relevant to such defense and the making available to Höegh of any employees of the Partnership Group; provided, however, that in connection therewith Höegh agrees to use reasonable efforts to minimize the impact
thereof on the operations of the Partnership Group and further agrees to maintain the confidentiality of all files, records and other information furnished by a Partnership Group Member pursuant to this Section 7.3. In no event will the
obligation of the Partnership Group to cooperate with Höegh as set forth in the immediately preceding sentence be construed as imposing upon the Partnership Group an obligation to hire and pay for counsel in connection with the defense of any
claims covered by the indemnification set forth in this Article VII; provided, however, that the Partnership Group Members may, at their own option, cost and expense, hire and pay for counsel in connection with any such defense.
Höegh agrees to keep any such counsel hired by the Partnership Group reasonably informed as to the status of any such defense (including providing such counsel with such information related to any such defense as such counsel may reasonably
request), but Höegh will have the right to retain sole control over such defense. 
 In determining the amount of any Loss for which
any of the members of the Partnership Group is entitled to indemnification under this Agreement, the gross amount of the indemnification will be reduced by (i) any insurance proceeds realized by the Partnership Group, and such correlative
insurance benefit will be net of any incremental insurance premium that becomes due and payable by the Partnership Group as a result of such claim, (ii) all amounts recovered by the Partnership Group under contractual indemnities from third
Persons and (iii) in the case of Losses pursuant to Section 7.1(d), all amounts recovered by the Partnership Group from PGN or third parties in respect of hire rate or Delay Liquidated Damages pursuant to Section 7.1(d).
The Partnership Group hereby agrees to use commercially reasonable efforts to realize any applicable insurance proceeds or amounts recoverable under such contractual indemnities; provided, however, that the costs and expenses (including, without
limitation, court costs and reasonable attorneys’ fees) of the Partnership Group in connection with such efforts will be promptly reimbursed by Höegh in advance of any determination of whether such insurance proceeds or other amounts will
be recoverable. 
 ARTICLE VIII 

MISCELLANEOUS 

Section 8.1. Choice of Law; Submission To Jurisdiction. This Agreement is subject to and governed by the laws of the State of New
York. Each Party hereby submits to the jurisdiction of the state and federal courts located in the State of New York and to venue in New York, New York. 

  
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 Section 8.2. Notice. All notices, requests or consents provided for or permitted to
be given pursuant to this Agreement must be in writing and must be given by depositing the same in the mail, addressed to the Person to be notified, postpaid, and registered or certified with return receipt requested or by delivering such notice in
person or by private-courier, prepaid, or by telecopier to such Party. Notice given by personal delivery or mail is effective upon actual receipt. Couriered notices are deemed delivered on the date the courier represents that delivery will occur.
Notice given by telecopier is effective upon actual receipt if received during the recipient’s normal business hours, or at the beginning of the recipient’s next business day after receipt if not received during the recipient’s normal
business hours. All notices to be sent to a Party pursuant to this Agreement will be sent to or made at the address set forth below such Party’s signature to this Agreement, or at such other address as such party may stipulate to the other
Parties in the manner provided in this Section 8.2. 
 Section 8.3. Entire Agreement. This Agreement constitutes the
entire agreement of the Parties relating to the matters contained herein, superseding all prior contracts or agreements, whether oral or written, relating to the matters contained herein. 

Section 8.4. Termination. Upon a Change of Control of the General Partner or of the MLP, the provisions of Articles II,
III, IV and V (but not less than all of such Articles) terminate immediately. Upon a Change of Control of Höegh, the provisions of Articles II, III, IV and V applicable to Höegh (but not less than
all of such Articles) terminate at the time that is the later of (a) the date on which all of the MLP’s outstanding subordinated units have converted to common units of the MLP and (b) the date of the Change of Control of Höegh.
On the date on which a majority of the members of the Board ceases to consist of members of the Board that were (a) appointed by the General Partner prior to the 2014 annual meeting of unitholders and (b) recommended for election to the
Board by a majority of the Appointed Directors (as defined in the MLP Agreement), the provisions of Articles II and VI and, to the extent applicable to any Höegh Entity, Section 5.1(b) and Section 5.2(b)
shall terminate immediately. 
 Section 8.5. Waiver; Effect of Waiver or Consent. Any Party may (a) extend the time for the
performance of any obligation or other act of any other Party or (b) waive compliance with any agreement or condition contained herein. Except as otherwise specifically provided herein, any such extension or waiver is valid only if set forth in
a written instrument duly executed by the Party or Parties to be bound thereby; provided, however, that the MLP may not, without the prior approval of the Conflicts Committee, agree to any extension or waiver of this Agreement that, in
the reasonable discretion of the Board, will adversely affect the holders of common units of the MLP. No waiver or consent, express or implied, by any Party of or to any breach or default by any Person in the performance by such Person of its
obligations hereunder will be deemed or construed to be a waiver or consent of or to any other breach or default in the performance by such Person of the same or any other obligations of such Person hereunder. Failure on the part of a Party to
complain of any act of any Person or to declare any Person in default, irrespective of how long such failure continues, does not constitute a waiver by such Party of its rights hereunder until the applicable statute of limitations period has run.

 Section 8.6. Amendment or Modification. This Agreement may be amended or modified from time to time only by the written
agreement of all the Parties; provided, however, that the MLP may not, without the prior approval of the Conflicts Committee, agree to any amendment or modification of this Agreement that, in the reasonable discretion of the Board, will adversely
affect the holders of common units of the MLP. 

  
 17 

 Section 8.7. Assignment. No Party has the right to assign its rights or obligations
under this Agreement without the consent of the other Parties. 
 Section 8.8. Counterparts. This Agreement may be executed in
any number of counterparts with the same effect as if all signatory Parties had signed the same document. All counterparts are to be construed together and constitute one and the same instrument. 

Section 8.9. Severability. If any provision of this Agreement or the application thereof to any Person or circumstance is held
invalid or unenforceable to any extent, the remainder of this Agreement and the application of such provision to other Persons or circumstances will not be affected thereby and will be enforced to the greatest extent permitted by law. 

Section 8.10. Gender, Parts, Articles and Sections. Whenever the context requires, the gender of all words used in this Agreement
includes the masculine, feminine and neuter, and the number of all words includes the singular and plural. All references to Article numbers and Section numbers refer to Articles and Sections of this Agreement. 

Section 8.11. Further Assurances. In connection with this Agreement and all transactions contemplated by this Agreement, each
signatory Party hereto agrees to execute and deliver such additional documents and instruments and to perform such additional acts as may be necessary or appropriate to effectuate, carry out and perform all of the terms, provisions and conditions of
this Agreement and all such transactions. 
 Section 8.12. Withholding or Granting of Consent. Each Party may, with respect to
any consent or approval that it is entitled to grant pursuant to this Agreement, grant or withhold such consent or approval in its sole and uncontrolled discretion, with or without cause, and subject to such conditions as it deems appropriate. 

Section 8.13. Laws and Regulations. Notwithstanding any provision of this Agreement to the contrary, no Party is required to take
any act, or fail to take any act, under this Agreement if the effect thereof would be to cause such Party to be in violation of any applicable law, statute, rule or regulation. 

Section 8.14. Negotiation of Rights of Höegh, Limited Partners, Assignees and Third Parties. The provisions of this Agreement
are enforceable solely by the Parties, and no shareholder of Höegh and no limited partner, member, assignee or other Person of the MLP has the right, separate and apart from Höegh or the MLP, as applicable, to enforce any provision of this
Agreement or to compel any Party to comply with the terms of this Agreement. Höegh is entitled to enforce the rights on behalf of any Höegh Entity, and the MLP is entitled to enforce the rights on behalf of any Partnership Group Member.

 [SIGNATURE PAGES FOLLOW] 

  
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 IN WITNESS WHEREOF, the Parties have executed this Agreement on, and effective as of, the Closing
Date. 
  

			
	HÖEGH LNG HOLDINGS LTD.
		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	 Address for Notice:

	
	  

	  

	  

	 Phone:
	 	  

	 Fax:
	 	  

	 Attention:
	 	  

	
	 HÖEGH LNG PARTNERS LP

	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	 Address for Notice:

	
	  

	  

	  

	 Phone:
	 	  

	 Fax:
	 	  

	 Attention:
	 	  

	
	 HÖEGH LNG GP LLC

		
	 By:
	 	  

	 Name:
	 	
	 Title:
	 	
	
	 Address for Notice:

	
	  

	  

	  

	 Phone:
	 	  

	 Fax:
	 	  

	 Attention:
	 	  

 [Signature Page to Omnibus Agreement] 

 
			
	HÖEGH LNG PARTNERS OPERATING LLC
		
	By:	 	  

	Name:	 	
	Title:	 	
	
	Address for Notice:
	
	  

	  

	  

	Phone:	 	  

	Fax:	 	  

	Attention:	 	  

 [Signature Page to Omnibus Agreement]

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