Document:

Registration Rights Agreement

 Exhibit 4.2 
 Execution Version 
  

 
  

REGISTRATION RIGHTS AGREEMENT 
 Dated as of October 25, 2012 
 By and Among 

TARGA RESOURCES PARTNERS LP, 
 TARGA RESOURCES PARTNERS FINANCE CORPORATION 
 and 

THE GUARANTORS NAMED HEREIN 
 as Issuers, 
 and 

THE INITIAL PURCHASERS NAMED HEREIN 
  

 
  

$400,000,000 
 5 1/4% SENIOR NOTES DUE 2023 

 TABLE OF CONTENTS 

 

									
	 	 	  	 	 	  	Page	 
			
	1.	 	 DEFINITIONS
	  	 	1	  
			
	2.	 	 EXCHANGE OFFER
	  	 	5	  
			
	3.	 	 SHELF REGISTRATION
	  	 	9	  
			
	4.	 	 ADDITIONAL INTEREST
	  	 	10	  
			
	5.	 	 REGISTRATION PROCEDURES
	  	 	12	  
			
	6.	 	 REGISTRATION EXPENSES
	  	 	21	  
			
	7.	 	 INDEMNIFICATION
	  	 	22	  
			
	8.	 	 RULE 144A
	  	 	25	  
			
	9.	 	 UNDERWRITTEN REGISTRATIONS
	  	 	25	  
			
	10.	 	 MISCELLANEOUS
	  	 	26	  
		 	(a)	 	 No Inconsistent Agreements
	  	 	26	  
		 	(b)	 	 Adjustments Affecting Registrable Securities
	  	 	26	  
		 	(c)	 	 Amendments and Waivers
	  	 	26	  
		 	(d)	 	 Notices
	  	 	26	  
		 	(e)	 	 Successors and Assigns
	  	 	27	  
		 	(f)	 	 Counterparts
	  	 	27	  
		 	(g)	 	 Headings
	  	 	27	  
		 	(h)	 	 Governing Law
	  	 	28	  
		 	(i)	 	 Severability
	  	 	28	  
		 	(j)	 	 Securities Held by the Issuers or their Affiliates
	  	 	28	  
		 	(k)	 	 Third Party Beneficiaries
	  	 	28	  
		 	(l)	 	 Entire Agreement
	  	 	28	  

  
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 REGISTRATION RIGHTS AGREEMENT 

This Registration Rights Agreement (the “Agreement”) is dated as of October 25, 2012 by and among Targa Resources
Partners LP, a Delaware limited partnership (the “Partnership”), Targa Resources Partners Finance Corporation, a Delaware corporation (the “Finance Co.” and, together with the Partnership, the “Targa
Companies”), the Guarantors listed on the signature pages hereto (the “Guarantors” and, together with the Partnership and Finance Co., the “Issuers”) and the several Initial Purchasers listed in Schedule 1
to the Purchase Agreement (defined below) (the “Initial Purchasers”) for whom Merrill Lynch, Pierce, Fenner & Smith Incorporated, Deutsche Bank Securities Inc., Wells Fargo Securities, LLC, Barclays Capital Inc. and RBS
Securities Inc. are acting as representatives (collectively, the “Representatives”). 

This Agreement is entered into in connection with the Purchase Agreement, dated as of October 22, 2012, by and
among the Targa Companies, the Guarantors and the Initial Purchasers (the “Purchase Agreement”) that provides for the sale by the Targa Companies to the Initial Purchasers of $400,000,000 aggregate principal amount of the Targa
Companies’ 5 1/4% Senior Notes due 2023 (the “Notes”). The Notes will be guaranteed (the “Guarantees”) on a senior basis by the Guarantors. The Notes and the Guarantees together are
herein referred to as the “Securities.” In order to induce the Initial Purchasers to enter into the Purchase Agreement, the Issuers have agreed to provide the registration rights set forth in this Agreement for the benefit of the
Holders (as defined herein). The execution and delivery of this Agreement is a condition to the Initial Purchasers’ obligation to purchase the Securities under the Purchase Agreement. 

The parties hereby agree as follows: 
  

	1.	Definitions 

 As
used in this Agreement, the following terms shall have the following meanings: 
 Additional Interest: See
Section 4(a) hereof. 
 Advice: See the last paragraph of Section 5 hereof. 

Agreement: See the introductory paragraphs hereto. 
 Applicable Period: See Section 2(b) hereof. 
 Business Day: Any
day that is not a Saturday, Sunday or a day on which banking institutions in New York are authorized or required by law to be closed. 

 Effectiveness Date: The date that is the 370th day after the delivery of a Shelf
Notice as required pursuant to Section 2(c) hereof; provided, however, that if the Effectiveness Date would otherwise fall on a day that is not a Business Day, then the Effectiveness Date shall be the next succeeding Business Day.

 Effectiveness Period: See Section 3(a) hereof. 

Event Date: See Section 4(b) hereof. 
 Exchange Act: The Securities Exchange Act of 1934, as amended, and the rules and regulations of the SEC promulgated thereunder. 

Exchange Notes: See Section 2(a) hereof. 
 Exchange Offer: See Section 2(a) hereof. 
 Exchange Offer
Registration Statement: See Section 2(a) hereof. 
 Exchange Securities: See Section 2(a) hereof.

 Filing Date: The 90th day after the delivery of a Shelf Notice as required pursuant to Section 2(c) hereof;
provided, however, that if the Filing Date would otherwise fall on a day that is not a Business Day, then the Filing Date shall be the next succeeding Business Day. 

Finance Co.: See the introductory paragraphs hereto. 
 FINRA: See Section 5(s) hereof. 
 Freely Tradable: With respect
to a Security, a Security that at any time of determination (i) is freely transferable without volume restrictions by holders that are not affiliates of the Targa Companies in accordance with Rule 144 (or any similar provision then in force)
under the Securities Act or otherwise, (ii) does not bear a restrictive legend, and (iii) does not bear a restricted CUSIP number. 
 Guarantees: See the introductory paragraphs hereto. 
 Guarantors:
See the introductory paragraphs hereto. 
 Holder: Any holder of a Registrable Security or Registrable Securities.

 Indemnified Person: See Section 7(c) hereof. 

Indemnifying Person: See Section 7(c) hereof. 

  
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 Indenture: The Indenture, dated as of October 25, 2012, by and among the Issuers
and U.S. Bank National Association, as Trustee, pursuant to which the Securities are being issued, as amended or supplemented from time to time in accordance with the terms thereof. 

Initial Purchasers: See the introductory paragraphs hereto. 

Inspectors: See Section 5(o) hereof. 
 Issue Date: The date on which the Securities were sold to the Initial Purchasers pursuant to the Purchase Agreement. 
 Issuers: See the introductory paragraphs hereto. 
 Notes: See the
introductory paragraphs hereto. 
 Offering Memorandum: The final offering memorandum of the Targa Companies dated
October 22, 2012, in respect of the offering of the Securities to the Initial Purchasers. 
 Participant: See
Section 7(a) hereof. 
 Participating Broker-Dealer: See Section 2(a) hereof. 

Partnership: See the introductory paragraphs hereto. 
 Person: An individual, trustee, corporation, partnership, limited liability company, joint stock company, trust, unincorporated association, union, business association, firm or other legal entity.

 Private Exchange: See Section 2(b) hereof. 

Private Exchange Notes: See Section 2(b) hereof. 
 Private Exchange Securities: See Section 2(b) hereof. 

Prospectus: The prospectus included in any Registration Statement (including, without limitation, any prospectus subject to
completion and a prospectus that includes any information previously omitted from a prospectus filed as part of an effective registration statement in reliance upon Rule 430A promulgated under the Securities Act), as amended or supplemented by any
prospectus supplement, and all other amendments and supplements to the Prospectus, with respect to the terms of the offering of any portion of the Registrable Securities covered by such Registration Statement including post-effective amendments, and
all material incorporated by reference or deemed to be incorporated by reference in such Prospectus. 

  
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 Purchase Agreement: See the introductory paragraphs hereto. 

Records: See Section 5(o) hereof. 
 Registrable Securities: Each Security upon original issuance of the Securities and at all times subsequent thereto, each Exchange Security as to which Section 2(c)(v) hereof is applicable upon
original issuance and at all times subsequent thereto and each Private Exchange Security upon original issuance thereof and at all times subsequent thereto, until in the case of any such Security, Exchange Security or Private Exchange Security, as
the case may be, the earliest to occur of (i) a Registration Statement (other than, with respect to any Exchange Security as to which Section 2(c)(v) hereof is applicable, the Exchange Offer Registration Statement) covering such Security,
Exchange Security or Private Exchange Security, as the case may be, has been declared effective by the SEC and such Security, Exchange Security or Private Exchange Security, as the case may be, has been disposed of in accordance with such effective
Registration Statement, (ii) such Security, Exchange Security or Private Exchange Security, as the case may be, is Freely Tradable and (iii) such Security, Exchange Security or Private Exchange Security, as the case may be, ceases to be
outstanding for purposes of the Indenture. 
 Registration Statement: Any registration statement of the Targa Companies,
including, but not limited to, the Exchange Offer Registration Statement and any registration statement filed in connection with a Shelf Registration Statement, filed with the SEC pursuant to the provisions of this Agreement, including the
Prospectus, amendments and supplements to such registration statement, including post-effective amendments, all exhibits and all material incorporated by reference or deemed to be incorporated by reference in such registration statement. 

Registration Trigger Date: The 370th day from the Issue Date. 

Representatives: See the introductory paragraphs hereto. 
 Rule 144: Rule 144 promulgated under the Securities Act, as such Rule may be amended from time to time, or any similar rule (other than Rule 144A) or regulation hereafter adopted by the SEC
providing for offers and sales of securities made in compliance therewith resulting in offers and sales by subsequent holders that are not affiliates of an issuer of such securities being free of the registration and prospectus delivery requirements
of the Securities Act. 
 Rule 144A: Rule 144A promulgated under the Securities Act, as such Rule may be amended from
time to time, or any similar rule (other than Rule 144) or regulation hereafter adopted by the SEC. 
 Rule 415:
Rule 415 promulgated under the Securities Act, as such Rule may be amended from time to time, or any similar rule or regulation hereafter adopted by the SEC. 

  
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 SEC: The Securities and Exchange Commission. 

Securities: See the introductory paragraphs hereto. 
 Securities Act: The Securities Act of 1933, as amended, and the rules and regulations of the SEC promulgated thereunder. 
 Shelf Notice: See Section 2(c) hereof. 
 Shelf Registration
Statement: See Section 3(a) hereof. 
 Targa Companies: See the introductory paragraphs hereto. 

TIA: The Trust Indenture Act of 1939, as amended. 
 Trustee: The trustee under the Indenture and the trustee (if any) under any indenture governing the Exchange Securities and Private Exchange Securities. 

Underwritten registration or underwritten offering: A registration in which securities of the Targa Companies are sold to an
underwriter for reoffering to the public. 
 Except as otherwise specifically provided, all references in this Agreement to
acts, laws, statutes, rules, regulations, releases, forms, no-action letters and other regulatory requirements (collectively, “Regulatory Requirements”) shall be deemed to refer also to any amendments thereto and all subsequent
Regulatory Requirements adopted as a replacement thereto having substantially the same effect therewith; provided that Rule 144 shall not be deemed to amend or replace Rule 144A. 

 

	2.	Exchange Offer 

(a) With respect to any Securities that on the Registration Trigger Date are Registrable Securities, no later than the Registration
Trigger Date, the Issuers shall file with the SEC, to the extent not prohibited by any applicable law or applicable interpretation of the staff of the SEC, a Registration Statement on an appropriate registration form (the “Exchange Offer
Registration Statement”) with respect to a registered offer (the “Exchange Offer”) to exchange any and all of the Registrable Securities (other than the Private Exchange Securities, if any) for a like aggregate principal
amount of debt securities of the Targa Companies that are identical in all material respects to the Securities ( the “Exchange Notes” and, together with the guarantees thereon, the “Exchange Securities”) (and that
are entitled to the benefits of the Indenture or a trust indenture that is identical in all material respects to the Indenture (other than such changes to the Indenture or any such identical trust indenture as are necessary to comply with any
requirements of the SEC to effect or maintain the qualification thereof under the TIA) and that, in either case, has been qualified under the TIA), except that the Exchange Securities (other than Private Exchange Securities, if any) shall have been
registered pursuant to an effective Registration Statement under the Securities Act and shall 

  
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contain no restrictive legend thereon. The Exchange Offer shall comply with all applicable tender offer rules and regulations under the Exchange Act. The Issuers agree to use their commercially
reasonable efforts to (x) cause the Exchange Offer Registration Statement to be declared (or to become automatically) effective under the Securities Act on or before the Registration Trigger Date; (y) keep the Exchange Offer open for not
less than 30 days (or longer if required by applicable law) after the date that notice of the Exchange Offer is mailed to Holders; and (z) consummate the Exchange Offer on or prior to the 30th day following the effectiveness of the Exchange
Offer Registration Statement; provided, however, that if such 30th day would otherwise fall on a day that is not a Business Day, then such Exchange Offer must be consummated not later than the next succeeding Business Day. If after
such Exchange Offer Registration Statement is declared effective by the SEC, the Exchange Offer or the issuance of the Exchange Securities thereunder is interfered with by any stop order, injunction or other order or requirement of the SEC or any
other governmental agency or court, such Exchange Offer Registration Statement shall be deemed not to have become effective for purposes of this Agreement during the period of such interference until the Exchange Offer may legally resume.

 Each Holder (including, without limitation, each Participating Broker-Dealer) who participates in the Exchange Offer will be
required to represent to the Targa Companies in writing (i) that any Exchange Securities received by it will be acquired in the ordinary course of its business, (ii) that at the time of the commencement of the Exchange Offer such Holder
has no arrangement or understanding with any Person to participate in the distribution (within the meaning of the Securities Act) of the Exchange Securities in violation of the provisions of the Securities Act, (iii) that such Holder is not an
“affiliate” (as defined in Rule 405 promulgated under the Securities Act) of the Targa Companies or the Guarantors within the meaning of the Securities Act and is not acting on behalf of any Persons who could not truthfully make the
foregoing representations, (iv) if such Holder is not a broker-dealer, that it is not engaged in, and does not intend to engage in, the distribution of Exchange Securities, and (v) if such Holder is a broker-dealer (a
“Participating Broker-Dealer”), that it will receive Exchange Securities for its own account in exchange for Securities that were acquired as a result of market-making or other trading activities and that it will deliver a
prospectus in connection with any resale of such Exchange Securities. 
 Upon consummation of the Exchange Offer in accordance
with this Section 2, the provisions of this Agreement shall continue to apply, mutatis mutandis, solely with respect to Registrable Securities that are Private Exchange Securities and Exchange Securities held by Participating
Broker-Dealers, and the Issuers shall have no further obligation to register Registrable Securities (other than Private Exchange Securities and other than in respect of any Exchange Securities as to which clause 2(c)(v) hereof applies) pursuant to
Section 3 hereof. No securities other than the Exchange Securities shall be included in the Exchange Offer Registration Statement. 
 (b) The Issuers shall include within the Prospectus contained in the Exchange Offer Registration Statement a section entitled “Plan of Distribution,” reasonably

  
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acceptable to the Representatives, that shall contain a summary statement of the positions taken or policies made by the staff of the SEC with respect to the potential “underwriter”
status of any Participating Broker-Dealer that is the beneficial owner (as defined in Rule 13d-3 under the Exchange Act) of Exchange Securities received by such Participating Broker-Dealer in the Exchange Offer, whether such positions or policies
have been publicly disseminated by the staff of the SEC or such positions or policies, in the judgment of the Representatives, represent the prevailing views of the staff of the SEC. Such “Plan of Distribution” section shall also expressly
permit, to the extent permitted by applicable policies and regulations of the SEC, the use of the Prospectus by all Persons subject to the prospectus delivery requirements of the Securities Act, including to the extent permitted by applicable
policies and regulations of the SEC, all Participating Broker-Dealers, and include a statement describing the means by which Participating Broker-Dealers may resell the Exchange Securities in compliance with the Securities Act. 

The Issuers shall use their respective commercially reasonable efforts to keep the Exchange Offer Registration Statement effective and to
amend and supplement the Prospectus contained therein in order to permit such Prospectus to be lawfully delivered by all Persons subject to the prospectus delivery requirements of the Securities Act for such period of time as is necessary to comply
with applicable law in connection with any resale of the Exchange Securities covered thereby; provided, however, that such period shall not be required to exceed 90 days or such longer period if extended pursuant to the last paragraph
of Section 5 hereof (the “Applicable Period”). 
 If, prior to consummation of the Exchange Offer, such
Initial Purchaser holds any Securities acquired by it and having, or that are reasonably likely to be determined to have, the status of an unsold allotment in the initial distribution, the Issuers, upon the request of such Initial Purchaser
simultaneously with the delivery of the Exchange Securities in the Exchange Offer, shall issue and deliver to such Initial Purchaser in exchange (the “Private Exchange”) for such Securities held by such Initial Purchaser a like
principal amount of debt securities of the Issuers that are identical in all material respects to the Exchange Securities (the “Private Exchange Notes” and, together with the guarantees thereon, the “Private Exchange
Securities”), except for the placement of a restrictive legend on such Private Exchange Securities. The Private Exchange Securities shall be issued pursuant to the same indenture as the Exchange Securities and bear the same CUSIP number as
the Exchange Securities if permitted by the CUSIP Service Bureau. 
 Interest on each Exchange Note will accrue (A) from
the later of (i) the last interest payment date on which interest was paid on the Note surrendered in exchange therefor, or (ii) if the Note is surrendered for exchange on a date in a period that includes the record date for an interest
payment date to occur on or after the date of such exchange and as to which interest will be paid, the date of such interest payment date or (B) if no interest has been paid on such Note, from the Issue Date. 

  
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 In connection with the Exchange Offer, the Issuers shall: 

(1) mail to each Holder a copy of the Prospectus forming part of the Exchange Offer Registration Statement, together with
an appropriate letter of transmittal and related documents; 
 (2) use their respective commercially reasonable
efforts to keep the Exchange Offer open for not less than 30 days after the date that notice of the Exchange Offer is mailed to Holders (or longer if required by applicable law); 

(3) permit Holders to withdraw tendered Securities at any time prior to the close of business, New York time, on the last
Business Day on which the Exchange Offer shall remain open; and 
 (4) otherwise comply in all material respects
with all applicable laws, rules and regulations. 
 As soon as practicable after the close of the Exchange Offer or the Private
Exchange, as the case may be, the Issuers shall: 
 (1) accept for exchange all Registrable Securities properly
tendered and not validly withdrawn pursuant to the Exchange Offer or the Private Exchange; 
 (2) deliver to the
Trustee for cancellation all Registrable Securities so accepted for exchange; and 
 (3) cause the Trustee to
authenticate and deliver promptly to each Holder of Securities, Exchange Securities or Private Exchange Securities, as the case may be, equal in principal amount to the Securities of such Holder so accepted for exchange; provided that, in the
case of any Notes held in global form by a depositary, authentication and delivery to such depositary of one or more replacement Notes in global form in an equivalent principal amount thereto for the account of such Holders in accordance with the
Indenture shall satisfy such authentication and delivery requirement. 
 The Exchange Securities and the Private Exchange
Securities may be issued under (i) the Indenture or (ii) an indenture identical in all material respects to the Indenture, which in either event has been qualified under the TIA or is exempt from such qualification and shall provide that
(1) the Exchange Securities shall not be subject to the transfer restrictions set forth in the Indenture and (2) the Private Exchange Securities shall be subject to the transfer restrictions set forth in the Indenture. The Indenture or
such indenture described in (ii) above shall provide that the Exchange Securities, the Private Exchange Securities and the Securities shall vote and consent together on all matters as one class and that none of the Exchange Securities, the
Private Exchange Securities or the Securities will have the right to vote or consent as a separate class on any matter. 

  
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 (c) If, (i) the Issuers would otherwise be required to consummate an Exchange Offer
pursuant to Section 2(a) hereof but because of any change in law or in currently prevailing interpretations of the staff of the SEC, the Issuers are not permitted to effect an Exchange Offer, (ii) the Exchange Offer is not consummated
within 370 days of the Issue Date; provided, however, that if such 370th day would otherwise fall on a day that is not a Business Day, then such Exchange Offer must be consummated not later than the next succeeding Business Day
(provided that if the Exchange Offer shall be consummated after such 370-day period, then the Issuers’ obligation under this clause (ii) arising from the failure of the Exchange Offer to be consummated within such 370-day period shall
terminate), (iii) the holder of Private Exchange Securities so requests at any time within 90 days after the consummation of the Private Exchange, (iv) because of any changes in law or in currently prevailing interpretations of the
staff of the SEC, a Holder (other than an Initial Purchaser holding Securities acquired directly from the Issuers) is not permitted to participate in the Exchange Offer or (v) in the case of any Holder that participates in the Exchange Offer,
such Holder does not receive Exchange Securities on the date of the exchange that are Freely Tradable, then the Issuers shall promptly deliver written notice thereof (the “Shelf Notice”) to the Trustee and in the case of
clauses (i), (ii) and (iv), all Holders, in the case of clause (iii), the Holders of the Private Exchange Securities and in the case of clause (v), the affected Holder, shall file a Shelf Registration Statement pursuant to
Section 3 hereof. 
  

	3.	Shelf Registration 

If a Shelf Notice is delivered as contemplated by Section 2(c) hereof, then: 

(a) Shelf Registration. The Issuers shall file with the SEC a Registration Statement for an offering to be made on
a continuous basis pursuant to Rule 415 covering all of the Registrable Securities not exchanged in the Exchange Offer, Private Exchange Notes and Exchange Notes as to which Section 2(c)(iv) is applicable (the “Shelf Registration
Statement”). The Issuers shall use their respective commercially reasonable efforts to file with the SEC the Shelf Registration Statement on or prior to the Filing Date. The Shelf Registration Statement shall be on Form S-1 or another
appropriate form permitting registration of such Registrable Securities for resale by Holders in the manner or manners designated by them (including, without limitation, one or more underwritten offerings). The Issuers shall not permit any
securities other than the Registrable Securities to be included in the Shelf Registration Statement. 
 In the
event that the Issuers are required to file a Shelf Registration Statement, the Issuers shall use their respective commercially reasonable efforts to cause the Shelf Registration Statement to be declared effective under the Securities Act on or
prior to the Effectiveness Date and to keep the Shelf Registration Statement continuously effective under the Securities Act until no Securities covered by such Shelf Registration Statement constitute Registrable Securities (the
“Effectiveness Period”); provided, however, that the Effectiveness Period in respect of the Shelf Registration Statement shall be extended to the extent required to permit dealers to comply with the applicable
prospectus delivery requirements of Rule 174 under the Securities Act and as otherwise provided herein. 

  
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 In the event that a Shelf Registration Statement is filed, the Targa
Companies shall provide to each Holder of Registrable Securities covered thereby copies of the prospectus that is part of the Shelf Registration Statement, notify each such Holder when the Shelf Registration Statement for the Registrable Securities
covered by the Shelf Registration Statement has become effective and take certain other actions as are required to permit unrestricted resales of the Registrable Securities covered by the Shelf Registration Statement. A Holder that sells Registrable
Securities covered by the Shelf Registration Statement pursuant to the Shelf Registration Statement will be (x) required to be named as a selling security holder in the related prospectus and to deliver a prospectus to purchasers,
(y) subject to certain of the civil liability provisions under the Securities Act in connection with such sales and (z) bound by the provisions of this Agreement that are applicable to such a Holder (including Section 7 hereof).

 (b) Withdrawal of Stop Orders. If the Shelf Registration Statement ceases to be effective for any
reason at any time during the Effectiveness Period (other than because of the sale of all of the securities registered thereunder), the Issuers shall use their commercially reasonable efforts to obtain the prompt withdrawal of any order suspending
the effectiveness thereof. 
 (c) Supplements and Amendments. The Issuers shall promptly supplement and
amend the Shelf Registration Statement if required by the rules, regulations or instructions applicable to the registration form used for such Shelf Registration Statement, if required by the Securities Act, or if reasonably requested by the Holders
of a majority in aggregate principal amount of the Registrable Securities covered by such Registration Statement or by any underwriter of such Registrable Securities. 
  

	4.	Additional Interest 

 (a) The Issuers and the Initial Purchasers agree that the Holders will suffer damages if the Issuers fail to fulfill their respective obligations under Section 2 or Section 3 hereof and that it
would not be feasible to ascertain the extent of such damages with precision. Accordingly, the Issuers agree to pay, as liquidated damages, additional interest on the Registrable Securities (“Additional Interest”) under the
circumstances and to the extent set forth below (without duplication): 
 (i) if an Exchange Offer Registration
Statement is required pursuant to Section 2(a) hereof or a Shelf Registration Statement is required pursuant to Section 3(a) hereof and such Exchange Offer Registration Statement or Shelf Registration Statement does not become effective on
or prior to the Registration Trigger Date, then, commencing on the day after the Registration Trigger Date, Additional Interest shall accrue on the principal amount of the Notes over and above the stated interest at a rate

  
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of 0.25% per annum for the first 90 days immediately following the Registration Trigger Date, such Additional Interest rate increasing by an additional 0.25% per annum at the beginning
of each subsequent 90-day period; 
 (ii) if an Exchange Offer Registration Statement is required pursuant to
Section 2(a) hereof or a Shelf Registration Statement is required pursuant to Section 3(a) hereof and (A) neither the Exchange Offer Registration Statement nor the Shelf Registration Statement is declared effective by the SEC (or
becomes automatically effective) on or prior to the Registration Trigger Date or (B) notwithstanding that the Issuers have consummated or will consummate the Exchange Offer, the Issuers are required to file a Shelf Registration Statement and
such Shelf Registration Statement is not declared effective by the SEC (or fails to become automatically effective) on or prior to the 90th day following the date such Shelf Registration Statement was filed, then, commencing on the day after such
required effective date, Additional Interest shall accrue on the principal amount of the Notes at a rate of 0.25% per annum for the first 90 days immediately following each such filing date, such Additional Interest rate increasing by an
additional 0.25% per annum at the beginning of each subsequent 90-day period; and 
 (iii) if an Exchange
Offer Registration Statement is required pursuant to Section 2(a) hereof or a Shelf Registration Statement is required pursuant to Section 3(a) hereof and if either (A) the Issuers have not exchanged Exchange Notes for all Notes
validly tendered in accordance with the terms of the Exchange Offer on or prior to the 30th day after the date on which the Exchange Offer Registration Statement was declared (or became automatically) effective; provided, however, that
if such 30th day would otherwise fall on a day that is not a Business Day, then such Exchange Offer must be consummated not later than the next succeeding Business Day or (B) if applicable, a Shelf Registration Statement has been declared
effective and such Shelf Registration Statement ceases to be effective at any time during the Effectiveness Period (other than after such time as all Notes have been disposed of thereunder), then Additional Interest shall accrue on the principal
amount of the Notes at a rate of 0.25% per annum for the first 90 days commencing on (x) the 31st day after such effective date, in the case of (A) above, or (y) the day such Shelf Registration Statement ceases to be effective,
in the case of (B) above, such Additional Interest rate increasing by an additional 0.25% per annum at the beginning of each such subsequent 90-day period; 
 provided, however, that the Additional Interest rate on the Registrable Securities may not accrue under more than one of the foregoing clauses (i) through (iii) of this
Section 4(a) at the same time and at no time shall the aggregate amount of Additional Interest accruing exceed at any one time in the aggregate 1.0% per annum; and provided, further, however, that (1) upon the
filing of the Exchange Offer Registration Statement or a Shelf Registration Statement (in the case of clause (i) of this Section 4(a)), (2) upon the effectiveness of the Exchange Offer Registration Statement or the Shelf Registration
Statement (in the case of clause (ii) of this Section 4(a)), or (3) upon the exchange of Exchange Securities for all Securities tendered (in 

  
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the case of clause (iii)(A) of this Section 4(a)), or upon the effectiveness of the applicable Shelf Registration Statement that had ceased to remain effective (in the case of (iii)(B) of
this Section 4(a)), Additional Interest on the Registrable Securities as a result of such clause (or the relevant subclause thereof), as the case may be, shall cease to accrue. 

(b) The Issuers shall notify the Trustee within one Business Day after each and every date on which an event occurs in respect of which
Additional Interest is required to be paid (an “Event Date”). Any amounts of Additional Interest due pursuant to (a)(i), (a)(ii) or (a)(iii) of this Section 4 will be payable in cash semi-annually on the same original interest
dates as the Notes, commencing with the first such date occurring after any such Additional Interest commences to accrue. The amount of Additional Interest will be determined by multiplying the applicable Additional Interest rate by the principal
amount of the Registrable Securities, multiplied by a fraction, the numerator of which is the number of days such Additional Interest rate was applicable during such period (determined on the basis of a 360-day year consisting of twelve 30-day
months and, in the case of a partial month, the actual number of days elapsed) and the denominator of which is 360. 
  

	5.	Registration Procedures 

 In connection with the filing of any Registration Statement pursuant to Sections 2 or 3 hereof, if a Registration Statement is required to be filed pursuant to such sections, the Issuers shall effect such
registrations to permit the sale of the securities covered thereby in accordance with the intended method or methods of disposition thereof, and pursuant thereto and in connection with any Registration Statement filed by the Issuers hereunder, the
Issuers shall: 
 (a) Prepare and file with the SEC on or before the date required herein, a Registration
Statement or Registration Statements as prescribed by Sections 2 or 3 hereof, and use its commercially reasonable efforts to cause each such Registration Statement to become effective and remain effective as provided herein; provided,
however, that, if (1) such filing is pursuant to Section 3 hereof or (2) a Prospectus contained in an Exchange Offer Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the
Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period, before filing any Registration Statement or Prospectus or any amendments or supplements thereto, the Issuers shall furnish to and
afford the Holders of the Registrable Securities covered by such Registration Statement or each such Participating Broker-Dealer, as the case may be, their counsel and the managing underwriters, if any, a reasonable opportunity to review copies of
all such documents (including copies of any documents to be incorporated by reference therein and all exhibits thereto) proposed to be filed (in each case at least three Business Days prior to such filing). The Issuers shall not file any
Registration Statement or Prospectus or any amendments or supplements thereto if the Holders of a majority in aggregate principal amount of the Registrable Securities covered by such Registration Statement, or any such Participating Broker-Dealer,
as the case may be, or their counsel, or the managing underwriters, if any, shall reasonably object on a timely basis. 

  
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 (b) Prepare and file with the SEC such amendments and post-effective
amendments to each Shelf Registration Statement or Exchange Offer Registration Statement, as the case may be, as may be necessary to keep such Registration Statement continuously effective for the Effectiveness Period or the Applicable Period, as
the case may be; cause the related Prospectus to be supplemented by any prospectus supplement required by applicable law, and as so supplemented to be filed pursuant to Rule 424 (or any similar provisions then in force) promulgated under the
Securities Act; and comply in all material respects with the provisions of the Securities Act and the Exchange Act applicable to the Issuers with respect to the disposition of all securities covered by such Registration Statement as so amended or in
such Prospectus as so supplemented and with respect to the subsequent resale of any securities being sold by a Participating Broker-Dealer covered by any such Prospectus; the Issuers shall be deemed not to have used their respective commercially
reasonable efforts to keep a Registration Statement effective during the Applicable Period if any of the Issuers voluntarily takes any action that would result in selling Holders of the Registrable Securities covered thereby or Participating
Broker-Dealers seeking to sell Exchange Securities not being able to sell such Registrable Securities or such Exchange Securities during that period, unless such action is required by applicable law or unless the Issuers comply in all material
respects with this Agreement, including without limitation, the provisions of paragraph 5(k) hereof and the last paragraph of this Section 5. 
 (c) If (1) a Shelf Registration Statement is filed pursuant to Section 3 hereof or (2) a Prospectus contained in an Exchange Offer Registration Statement filed pursuant to Section 2
hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period, the Targa Companies shall notify the selling Holders, or each such Participating
Broker-Dealer, as the case may be, their counsel and the managing underwriters, if any, promptly (but in any event within two Business Days) and confirm such notice in writing, (i) when a Prospectus or any Prospectus supplement or
post-effective amendment has been filed, and, with respect to a Registration Statement or any post-effective amendment, when the same has become effective under the Securities Act (including in such notice a written statement that any Holder may,
upon request, obtain, at the sole expense of the Issuers, one conformed copy of such Registration Statement or post-effective amendment including financial statements and schedules, documents incorporated or deemed to be incorporated by reference
and exhibits), (ii) of the issuance by the SEC of any stop order suspending the effectiveness of a Registration Statement or of any order preventing or suspending the use of any preliminary prospectus or the initiation of any proceedings for
that purpose, (iii) if at any time when a prospectus is required by the Securities Act to be delivered in connection with sales of the Registrable Securities or resales of Exchange Securities

  
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by Participating Broker-Dealers the representations and warranties of the Issuers contained in any agreement (including any underwriting agreement), contemplated by Section 5(n) hereof cease
to be true and correct, (iv) of the receipt by the Issuers of any notification with respect to the suspension of the qualification or exemption from qualification of a Registration Statement or any of the Registrable Securities or the Exchange
Securities to be sold by any Participating Broker-Dealer for offer or sale in any jurisdiction, or the initiation or written threat of any proceeding for such purpose, (v) of the happening of any event, the existence of any condition or any
information becoming known that makes any statement made in such Registration Statement or related Prospectus or any document incorporated or deemed to be incorporated therein by reference untrue in any material respects or that requires the making
of any material changes in or amendments or supplements to such Registration Statement, Prospectus or documents so that, in the case of the Registration Statement, it will not contain any untrue statement of a material fact or omit to state any
material fact required to be stated therein or necessary to make the statements therein not misleading, and that in the case of the Prospectus, it will not contain any untrue statement of a material fact or omit to state any material fact necessary
to make the statements therein, in the light of the circumstances under which they were made, not misleading and (vi) of the Issuers’ determination that a post-effective amendment to a Registration Statement would be appropriate.

 (d) Use their respective commercially reasonable efforts to prevent the issuance of any order suspending the
effectiveness of a Registration Statement or of any order preventing or suspending the use of a Prospectus or suspending the qualification (or exemption from qualification) of any of the Registrable Securities or the Exchange Securities for sale in
any jurisdiction and, if any such order is issued, to use their commercially reasonable efforts to obtain the withdrawal of any such order at the earliest possible moment. 

(e) If a Shelf Registration Statement is filed pursuant to Section 3 and if requested by the managing underwriter or
underwriters, if any, or the Holders of a majority in aggregate principal amount of the Registrable Securities being sold in connection with an underwritten offering, (i) promptly incorporate in a prospectus supplement or post-effective
amendment such information as the managing underwriter or underwriters, if any, such Holders or counsel for any of them determine is reasonably necessary to be included therein, (ii) make all required filings of such prospectus supplement or
such post-effective amendment as soon as practicable after the Issuers have received notification of the matters to be incorporated in such prospectus supplement or post-effective amendment and (iii) supplement or make amendments to such
Registration Statement; provided, however, that the Issuers shall not be required to take any action pursuant to this Section 5(e) that would, in the opinion of counsel for the Issuers, violate applicable law. 

  
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 (f) If (1) a Shelf Registration Statement is filed pursuant to
Section 3 hereof or (2) a Prospectus contained in an Exchange Offer Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell
Exchange Securities during the Applicable Period, furnish to each selling Holder of Registrable Securities and to each such Participating Broker-Dealer who so requests and to their respective counsel and each managing underwriter, if any, at the
sole expense of the Issuers, one conformed copy of the Registration Statement or Registration Statements and each post-effective amendment thereto, including financial statements and schedules and, if requested, all documents incorporated or deemed
to be incorporated therein by reference and all exhibits. 
 (g) If (1) a Shelf Registration Statement is
filed pursuant to Section 3 hereof or (2) a Prospectus contained in an Exchange Offer Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer
who seeks to sell Exchange Securities during the Applicable Period, deliver to each selling Holder of Registrable Securities, or each such Participating Broker-Dealer, as the case may be, their respective counsel and the underwriters, if any, at the
sole expense of the Issuers, as many copies of the Prospectus or Prospectuses (including each form of preliminary prospectus) and each amendment or supplement thereto and any documents incorporated by reference therein as such Persons may reasonably
request; and, subject to the last paragraph of this Section 5, the Issuers hereby consent to the use of such Prospectus and each amendment or supplement thereto by each of the selling Holders or each such Participating Broker-Dealer, as the
case may be, and the underwriters or agents, if any, and dealers, if any, in connection with the offering and sale of the Registrable Securities covered by, or the sale by Participating Broker-Dealers of the Exchange Securities pursuant to, such
Prospectus and any amendment or supplement thereto. 
 (h) Prior to any public offering of Registrable Securities
or Exchange Securities or any delivery of a Prospectus contained in the Exchange Offer Registration Statement by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period, to use their commercially reasonable
efforts to register or qualify and to cooperate with the selling Holders or each such Participating Broker-Dealer, as the case may be, the managing underwriter or underwriters, if any, and their respective counsel in connection with the registration
or qualification (or exemption from such registration or qualification) of such Registrable Securities for offer and sale under the securities or Blue Sky laws of such jurisdictions within the United States as any selling Holder, Participating
Broker-Dealer or the managing underwriter or underwriters reasonably request in writing; provided, however, that where Exchange Securities held by Participating Broker-Dealers or Registrable Securities are offered other than through an
underwritten offering, the Issuers agree to cause their counsel to perform Blue Sky investigations and file registrations and qualifications required to be filed pursuant to this Section 5(h); use

  
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their commercially reasonable efforts to keep each such registration or qualification (or exemption therefrom) effective during the period such Registration Statement is required to be kept
effective and do any and all other acts or things reasonably necessary or advisable to enable the disposition in such jurisdictions of the Exchange Securities held by Participating Broker-Dealers or the Registrable Securities covered by the
applicable Registration Statement; provided, however, that none of the Issuers shall be required to (A) qualify generally to do business in any jurisdiction where it is not then so qualified, (B) take any action that would
subject it to general service of process in any such jurisdiction where it is not then so subject or (C) subject itself to taxation in any such jurisdiction where it is not then so subject. 

(i) If a Shelf Registration Statement is filed pursuant to Section 3 hereof, cooperate with the selling Holders and
the managing underwriter or underwriters, if any, to facilitate the timely preparation and delivery of certificates representing Registrable Securities to be sold, which certificates shall not bear any restrictive legends and shall be in a form
eligible for deposit with The Depository Trust Company; and enable such Registrable Securities to be in such authorized denominations and registered in such names as the managing underwriter or underwriters, if any, or Holders may reasonably
request. 
 (j) Use their respective commercially reasonable efforts to cause the Registrable Securities covered
by the Registration Statement to be registered with or approved by such other governmental agencies or authorities as may be necessary to enable the Holders thereof or the underwriter or underwriters, if any, to consummate the disposition of such
Registrable Securities, except as may be required solely as a consequence of the nature of such selling Holder’s business, in which case the Issuers will cooperate in all reasonable respects with the filing of such Registration Statement and
the granting of such approvals. 
 (k) If (1) a Shelf Registration Statement is filed pursuant to
Section 3 hereof or (2) a Prospectus contained in an Exchange Offer Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell
Exchange Securities during the Applicable Period, upon the occurrence of any event contemplated by paragraph 5(c)(v) or 5(c)(vi) hereof, as promptly as practicable, prepare and (subject to Section 5(a) hereof) file with the SEC, at the
Issuers’ sole expense, a supplement or post-effective amendment to the Registration Statement or a supplement to the related Prospectus or any document incorporated or deemed to be incorporated therein by reference, or file any other required
document so that, as thereafter delivered to the purchasers of the Registrable Securities being sold thereunder or to the purchasers of the Exchange Securities to whom such Prospectus will be delivered by a Participating Broker-Dealer, any such
Prospectus will not contain an untrue statement of a material fact or omit to state a material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not
misleading. 

  
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 (l) Use their respective commercially reasonable efforts to cause the
Registrable Securities covered by a Registration Statement or the Exchange Securities, as the case may be, to be rated with the appropriate rating agencies, if so requested by the Holders of a majority in aggregate principal amount of Registrable
Securities covered by such Registration Statement or the Exchange Securities, as the case may be, or the managing underwriter or underwriters, if any, if the Notes are not then so rated. 

(m) Prior to the effective date of the first Registration Statement relating to the Registrable Securities,
(i) provide the Trustee with certificates for the Registrable Securities or Exchange Securities, as the case may be, in a form eligible for deposit with The Depository Trust Company and (ii) provide a CUSIP number for the Registrable
Securities or Exchange Securities, as the case may be. 
 (n) In connection with any underwritten offering of
Registrable Securities pursuant to a Shelf Registration Statement, enter into an underwriting agreement as is customary in underwritten offerings of debt securities similar to the Securities and take all such other actions as are reasonably
requested by the managing underwriter or underwriters in order to expedite or facilitate the registration or the disposition of such Registrable Securities and, in such connection, (i) make such representations and warranties to, and covenants
with, the underwriters with respect to the business of the Issuers and their subsidiaries (including any acquired business, properties or entity, if applicable) and the Registration Statement, Prospectus and documents, if any, incorporated or deemed
to be incorporated by reference therein, in each case, as are customarily made by issuers to underwriters in underwritten offerings of debt securities similar to the Securities, and confirm the same in writing if and when requested; (ii) obtain
the written opinion of counsel to the Issuers and written updates thereof in form, scope and substance reasonably satisfactory to the managing underwriter or underwriters, addressed to the underwriters covering the matters customarily covered in
opinions requested in underwritten offerings of debt similar to the Securities and such other matters as may be reasonably requested by the managing underwriter or underwriters; (iii) obtain “cold comfort” letters and updates thereof
in form, scope and substance reasonably satisfactory to the managing underwriter or underwriters from the independent certified public accountants of the Issuers (and, if necessary, any other independent certified public accountants of any
subsidiary of the Issuers or of any business acquired by the Issuers for which financial statements and financial data are, or are required to be, included or incorporated by reference in the Registration Statement), addressed to each of the
underwriters, such letters to be in customary form and covering matters of the type customarily covered in “cold comfort” letters in connection with underwritten offerings of debt securities similar to the Securities and such other matters
as reasonably requested by the managing 

  
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underwriter or underwriters; and (iv) if an underwriting agreement is entered into, the same shall contain indemnification provisions and procedures no less favorable than those set forth in
Section 7 hereof (or such other provisions and procedures acceptable to Holders of a majority in aggregate principal amount of Registrable Securities covered by such Registration Statement and the managing underwriter or underwriters or agents)
with respect to all parties to be indemnified pursuant to said Section. The above shall be done at each closing under such underwriting agreement, or as and to the extent required thereunder. 

(o) If (1) a Shelf Registration Statement is filed pursuant to Section 3 hereof or (2) a Prospectus
contained in an Exchange Offer Registration Statement filed pursuant to Section 2 hereof is required to be delivered under the Securities Act by any Participating Broker-Dealer who seeks to sell Exchange Securities during the Applicable Period,
upon reasonable advance notice make available for inspection by any selling Holder of such Registrable Securities being sold, or each such Participating Broker-Dealer, as the case may be, any underwriter participating in any such disposition of
Registrable Securities, if any, and any attorney, accountant or other agent retained by any such selling Holder or each such Participating Broker-Dealer, as the case may be, or underwriter (collectively, the “Inspectors”), at the
offices where normally kept, during reasonable business hours without interfering in the orderly business of the Issuers, all financial and other relevant records, pertinent corporate documents and instruments of the Issuers and their subsidiaries
(collectively, the “Records”) as shall be reasonably necessary to enable them to exercise any applicable due diligence responsibilities, and cause the respective officers, directors and employees of the Issuers and their
subsidiaries to supply all information reasonably requested by any such Inspector in connection with such Registration Statement. Any such access granted to the Inspectors under this Section 5(o) shall be subject to the prior receipt by the
Issuers of written undertakings, in form and substance reasonably satisfactory to the Issuers, to preserve the confidentiality of any information deemed by the Issuers to be confidential. Records that the Issuers determine, in good faith, to be
confidential and any Records that they notify the Inspectors are confidential shall not be disclosed by the Inspectors unless (i) the Issuers based upon advice of counsel determine that disclosure of such Records is necessary to avoid or
correct a material misstatement or omission in such Registration Statement, (ii) the release of such Records is ordered pursuant to a subpoena or other order from a court of competent jurisdiction, (iii) after giving reasonable prior
notice to the Targa Companies, disclosure of such information is, in the opinion of counsel for any Inspector, necessary or advisable in connection with any action, claim, suit or proceeding, directly or indirectly, involving or potentially
involving such Inspector and arising out of, based upon, relating to or involving this Agreement or any transactions contemplated hereby or arising hereunder or (iv) the information in such Records has been made generally available to the
public. Each selling Holder of such Registrable Securities and each such Participating Broker-Dealer will be required to agree that information obtained by it as a result of such inspections shall be deemed confidential

  
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and shall not be used by it as the basis for any market transactions in the securities of the Targa Companies unless and until such information is generally available to the public. Each selling
Holder of such Registrable Securities and each such Participating Broker-Dealer will be required to further agree that it will, upon learning that disclosure of such Records is sought in a court of competent jurisdiction, give notice to the Targa
Companies and allow the Targa Companies to undertake appropriate action to prevent disclosure of the Records deemed confidential at the Targa Companies’ sole expense. 

(p) Provide an indenture trustee for the Registrable Securities or the Exchange Securities, as the case may be, and cause
the Indenture or the trust indenture provided for in Section 2(a) hereof, as the case may be, to be qualified under the TIA not later than the effective date of the Exchange Offer or the first Registration Statement relating to the Registrable
Securities; and in connection therewith, cooperate with the trustee under any such indenture and the Holders of the Registrable Securities, to effect such changes to such indenture as may be required for such indenture to be so qualified in
accordance with the terms of the TIA; and execute, and use their commercially reasonable efforts to cause such trustee to execute, all documents as may be required to effect such changes and all other forms and documents required to be filed with
the SEC to enable such indenture to be so qualified in a timely manner. 
 (q) Comply in all material respects
with all applicable rules and regulations of the SEC and make generally available to the Partnership’s securityholders earning statements satisfying the provisions of Section 11(a) of the Securities Act and Rule 158 thereunder (or any
similar rule promulgated under the Securities Act) no later than 45 days after the end of any 12-month period (or 90 days after the end of any 12-month period if such period is a fiscal year) (i) commencing at the end of any fiscal quarter in
which Registrable Securities are sold to underwriters in a firm commitment or reasonable best efforts underwritten offering and (ii) if not sold to underwriters in such an offering, commencing on the first day of the first fiscal quarter of the
Issuers after the effective date of a Registration Statement, which statements shall cover said 12-month periods. 
 (r) Upon consummation of an Exchange Offer or a Private Exchange, obtain an opinion of counsel to the Issuers, who may, at the Issuers’ election, be internal counsel to the Issuers, in a form
customary for underwritten transactions, addressed to the Trustee for the benefit of all Holders participating in the Exchange Offer or the Private Exchange, as the case may be, that the Exchange Securities or Private Exchange Securities, as the
case may be, and the related indenture constitute legal, valid and binding obligations of the Issuers, enforceable against the Issuers in accordance with its respective terms, subject to customary exceptions and qualifications. 

  
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 (s) If an Exchange Offer or a Private Exchange is to be consummated, upon
delivery of the Registrable Securities by Holders to the Targa Companies (or to such other Person as directed by the Targa Companies) in exchange for the Exchange Securities or the Private Exchange Securities, as the case may be, the Targa Companies
shall mark, or cause to be marked, on such Registrable Securities that such Registrable Securities are being cancelled in exchange for the Exchange Securities or the Private Exchange Securities, as the case may be; in no event shall such Registrable
Securities be marked as paid or otherwise satisfied. 
 (t) Cooperate with each seller of Registrable Securities
covered by any Registration Statement and each underwriter, if any, participating in the disposition of such Registrable Securities and their respective counsel in connection with any filings required to be made with the Financial Industry
Regulatory Authority (the “FINRA”). 
 (u) Use their respective commercially reasonable efforts
to take all other steps necessary or advisable to effect the registration of the Registrable Securities covered by a Registration Statement contemplated hereby. 
 The Issuers may require each seller of Registrable Securities as to which any registration is being effected to furnish to the Issuers such information regarding such seller and the distribution of such
Registrable Securities as the Issuers may, from time to time, reasonably request. The Issuers may exclude from such registration the Registrable Securities of any seller who unreasonably fails to furnish such information within a reasonable time
after receiving such request and in such event shall have no further obligation under this Agreement (including, without limitation, obligations under Section 4 hereof) with respect to such seller or any subsequent holder of such Registrable
Securities. Each seller as to which any Shelf Registration Statement is being effected agrees to furnish promptly to the Issuers all information required to be disclosed in order to make the information previously furnished to the Issuers by such
seller not materially misleading. 
 Each Holder of Registrable Securities and each Participating Broker-Dealer agrees by
acquisition of such Registrable Securities or Exchange Securities to be sold by such Participating Broker-Dealer, as the case may be, that, upon actual receipt of any notice from the Targa Companies of the happening of any event of the kind
described in Sections 5(c)(ii), 5(c)(iv), 5(c)(v) or 5(c)(vi) hereof, such Holder will forthwith discontinue disposition of such Registrable Securities covered by such Registration Statement or Prospectus or Exchange Securities to be sold by such
Holder or Participating Broker-Dealer, as the case may be, until such Holder’s or Participating Broker-Dealer’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 5(k) hereof, or until it is
advised in writing (the “Advice”) by the Targa Companies that the use of the applicable Prospectus may be resumed, and has received copies of any amendments or supplements thereto. During any such discontinuance, no Additional
Interest shall accrue or otherwise be payable on the Registrable Securities. In the event that the Targa Companies shall give any such notice, each of the Effectiveness Period and the Applicable Period shall be extended by the number of days

  
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during such periods from and including the date of the giving of such notice to and including the date when each seller of Registrable Securities covered by such Registration Statement or
Exchange Securities to be sold by such Participating Broker-Dealer, as the case may be, shall have received (x) the copies of the supplemented or amended Prospectus contemplated by Section 5(k) hereof or (y) the Advice. 

 

	6.	Registration Expenses 

 (a) All fees and expenses incident to the performance of or compliance with this Agreement by the Issuers shall be borne by the Issuers whether or not the Exchange Offer or a Shelf Registration Statement
is filed or becomes effective, including, without limitation, (i) all registration and filing fees (including, without limitation, (A) fees with respect to filings required to be made with the FINRA in connection with an underwritten
offering and (B) fees and expenses of compliance with state securities or Blue Sky laws (including, without limitation, reasonable fees and disbursements of counsel in connection with Blue Sky qualifications of the Registrable Securities or
Exchange Securities and determination of the eligibility of the Registrable Securities or Exchange Securities for investment under the laws of such jurisdictions (x) where the Holders are located, in the case of the Exchange Securities, or
(y) as provided in Section 5(h) hereof, in the case of Registrable Securities or Exchange Securities to be sold by a Participating Broker-Dealer during the Applicable Period)), (ii) printing expenses, including, without limitation,
expenses of printing certificates for Registrable Securities or Exchange Securities in a form eligible for deposit with The Depository Trust Company and of printing prospectuses if the printing of prospectuses is requested by the managing
underwriter or underwriters, if any, by the Holders of a majority in aggregate principal amount of the Registrable Securities included in any Registration Statement or sold by any Participating Broker-Dealer, as the case may be,
(iii) reasonable messenger, telephone and delivery expenses, (iv) fees and disbursements of counsel for the Targa Companies and fees and disbursements of special counsel for the sellers of Registrable Securities (subject to the provisions
of Section 6(b) hereof), (v) fees and disbursements of all independent certified public accountants referred to in Section 5(n)(iii) hereof (including, without limitation, the expenses of any special audit and “cold comfort”
letters required by or incident to such performance), (vi) rating agency fees, if any, and any fees associated with making the Registrable Securities or Exchange Securities eligible for trading through The Depository Trust Company,
(vii) Securities Act liability insurance, if the Targa Companies desire such insurance, (viii) fees and expenses of all other Persons retained by the Targa Companies, (ix) internal expenses of the Targa Companies (including, without
limitation, all salaries and expenses of officers and employees of the Targa Companies performing legal or accounting duties), (x) the expense of any annual audit, (xi) the fees and expenses incurred in connection with the listing of the
securities to be registered on any securities exchange, if applicable, and (xii) the expenses relating to printing, word processing and distributing of all Registration Statements, underwriting agreements, securities sales agreements,
indentures and any other documents necessary to comply with this Agreement. 

  
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 (b) The Issuers shall reimburse the Holders of the Registrable Securities being registered
in a Shelf Registration Statement for the reasonable fees and disbursements of not more than one counsel chosen by the Holders of a majority in aggregate principal amount of the Registrable Securities to be included in such Registration Statement.

  

	7.	Indemnification 

(a) Each of the Issuers agrees to indemnify and hold harmless each Holder of Registrable Securities offered pursuant to a Shelf
Registration Statement and each Participating Broker-Dealer selling Exchange Securities during the Applicable Period, the officers and directors of each such Person or its affiliates, and each other Person, if any, who controls any such Person or
its affiliates within the meaning of either Section 15 of the Securities Act or Section 20 of the Exchange Act (each, a “Participant”), from and against any and all losses, claims, damages and liabilities (including,
without limitation, the reasonable legal fees and other expenses actually incurred in connection with any suit, action or proceeding or any claim asserted) caused by, arising out of or based upon any untrue statement or alleged untrue statement of a
material fact contained in any Registration Statement pursuant to which the offering of such Registrable Securities or Exchange Securities, as the case may be, is registered (or any amendment thereto) or related Prospectus (or any amendments or
supplements thereto) or any related preliminary prospectus, or caused by, arising out of or based upon any omission or alleged omission to state therein a material fact required to be stated therein or necessary to make the statements therein, in
the light of the circumstances under which they were made, not misleading; provided, however, that none of the Issuers will be required to indemnify a Participant if such losses, claims, damages or liabilities are caused by any untrue
statement or omission or alleged untrue statement or omission made in reliance upon and in conformity with information relating to any Participant furnished to the Targa Companies in writing by or on behalf of such Participant expressly for use
therein. 
 (b) Each Participant agrees, severally and not jointly, to indemnify and hold harmless the Targa Companies and each
of the Guarantors, each of the Targa Companies’ directors and officers, each Guarantor’s directors and officers and each Person who controls the Targa Companies within the meaning of Section 15 of the Securities Act or Section 20
of the Exchange Act to the same extent as the foregoing indemnity from the Issuers to each Participant, but only (i) with reference to information relating to such Participant furnished to the Targa Companies in writing by or on behalf of such
Participant expressly for use in any Registration Statement or Prospectus, any amendment or supplement thereto or any preliminary prospectus or (ii) with respect to any untrue statement or representation made by such Participant in writing to
the Targa Companies. The liability of any Participant under this paragraph shall in no event exceed the proceeds received by such Participant from sales of Registrable Securities or Exchange Securities giving rise to such obligations. 

  
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 (c) If any suit, action, proceeding (including any governmental or regulatory
investigation), claim or demand shall be brought or asserted against any Person in respect of which indemnity may be sought pursuant to either of the two preceding paragraphs, such Person (the “Indemnified Person”) shall promptly
notify the Person against whom such indemnity may be sought (the “Indemnifying Person”) in writing, and the Indemnifying Person, upon request of the Indemnified Person, shall retain counsel reasonably satisfactory to the Indemnified
Person to represent the Indemnified Person and any others the Indemnifying Person may reasonably designate in such proceeding and shall pay the reasonable fees and expenses actually incurred by such counsel related to such proceeding;
provided, however, that the failure to so notify the Indemnifying Person shall not relieve it of any obligation or liability that it may have hereunder or otherwise (unless and only to the extent that such failure directly results in
the loss or compromise of any material rights or defenses by the Indemnifying Person and the Indemnifying Person was not otherwise aware of such action or claim). In any such proceeding, any Indemnified Person shall have the right to retain its own
counsel, but the fees and expenses of such counsel shall be at the expense of such Indemnified Person unless (i) the Indemnifying Person and the Indemnified Person shall have mutually agreed in writing to the contrary, (ii) the
Indemnifying Person shall have failed within a reasonable period of time to retain counsel reasonably satisfactory to the Indemnified Person or (iii) the named parties in any such proceeding (including any impleaded parties) include both the
Indemnifying Person and the Indemnified Person and representation of both parties by the same counsel would be inappropriate due to actual or potential differing interests between them. It is understood that, unless there exists a conflict among
Indemnified Persons, the Indemnifying Person shall not, in connection with any one such proceeding or separate but substantially similar related proceeding in the same jurisdiction arising out of the same general allegations, be liable for the fees
and expenses of more than one separate firm (in addition to any local counsel) for all Indemnified Persons, and that all such fees and expenses shall be reimbursed promptly as they are incurred. Any such separate firm for the Participants and such
control Persons of Participants shall be designated in writing by Participants who sold a majority in interest of Registrable Securities and Exchange Securities sold by all such Participants and shall be reasonably satisfactory to the Targa
Companies and any such separate firm for the Targa Companies, their directors, their officers and such control Persons of the Targa Companies shall be designated in writing by the Targa Companies. The Indemnifying Person shall not be liable for any
settlement of any proceeding effected without its prior written consent, but if settled with such consent or if there be a final non-appealable judgment for the plaintiff for which the Indemnified Person is entitled to indemnification pursuant to
this Agreement, the Indemnifying Person agrees to indemnify and hold harmless each Indemnified Person from and against any loss or liability by reason of such settlement or judgment. No Indemnifying Person shall, without the prior written consent of
the Indemnified Person (which consent shall not be unreasonably withheld or delayed), effect any settlement or compromise of any pending or threatened proceeding in respect of which any Indemnified Person is or could have been a party, and indemnity
could have been sought hereunder by such Indemnified Person, unless such settlement (A) includes an unconditional written release of such Indemnified Person, in form and substance reasonably satisfactory to 

  
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such Indemnified Person, from all liability on claims that are the subject matter of such proceeding and (B) does not include any statement as to an admission of fault, culpability or
failure to act by or on behalf of any Indemnified Person. 
 (d) If the indemnification provided for in the first and second
paragraphs of this Section 7 is for any reason unavailable to, or insufficient to hold harmless, an Indemnified Person in respect of any losses, claims, damages or liabilities referred to therein, then each Indemnifying Person under such
paragraphs, in lieu of indemnifying such Indemnified Person thereunder and in order to provide for just and equitable contribution, shall contribute to the amount paid or payable by such Indemnified Person as a result of such losses, claims, damages
or liabilities in such proportion as is appropriate to reflect the relative fault of the Indemnifying Person or Persons on the one hand and the Indemnified Person or Persons on the other in connection with the statements or omissions or alleged
statements or omissions that resulted in such losses, claims, damages or liabilities (or actions in respect thereof). The relative fault of the parties shall be determined by reference to, among other things, whether the untrue or alleged untrue
statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Issuers on the one hand or such Participant or such other Indemnified Person, as the case may be, on the other, the
parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission, and any other equitable considerations appropriate in the circumstances. 

(e) The parties agree that it would not be just and equitable if contribution pursuant to this Section 7 were determined by pro
rata allocation (even if the Participants were treated as one entity for such purpose) or by any other method of allocation that does not take account of the equitable considerations referred to in the immediately preceding paragraph. The amount
paid or payable by an Indemnified Person as a result of the losses, claims, damages and liabilities referred to in the immediately preceding paragraph shall be deemed to include, subject to the limitations set forth above, any reasonable legal or
other expenses actually incurred by such Indemnified Person in connection with investigating or defending any such action or claim. Notwithstanding the provisions of this Section 7, in no event shall a Participant be required to contribute any
amount in excess of the amount by which proceeds received by such Participant from sales of Registrable Securities or Exchange Securities, as the case may be, exceeds the amount of any damages that such Participant has otherwise been required to pay
or has paid by reason of such untrue or alleged untrue statement or omission or alleged omission. No Person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution
from any Person who was not guilty of such fraudulent misrepresentation. 
 (f) The indemnity and contribution agreements
contained in this Section 7 will be in addition to any liability that the Indemnifying Persons may otherwise have to the Indemnified Persons referred to above. 

  
 -24-

	8.	Rule 144A 

 Whether
or not required by the rules and regulations of the SEC, so long as any Registrable Securities are outstanding, the Partnership shall use its reasonable best efforts to furnish (whether through hard copy or by posting on its website) to the Holders
or cause the Trustee to furnish to the Holders, within the time periods specified in the SEC’s rules and regulations: (1) all quarterly and annual reports that would be required to be filed with the SEC on Forms 10-Q and 10-K if the
Partnership were required to file such reports; and (2) all current reports that would be required to be filed with the SEC on Form 8-K if the Partnership were required to file such reports. 

If, at any time the Partnership is no longer subject to the periodic reporting requirements of the Exchange Act for any reason, the
Partnership shall nevertheless use its reasonable best efforts to continue filing the reports specified in the preceding paragraph with the SEC unless the SEC will not accept such a filing; provided that, for so long as the Partnership is not
subject to the periodic reporting requirements of the Exchange Act for any reason, the time period for filing reports on Form 8-K shall be five Business Days after the event giving rise to the obligation to file such report. If, notwithstanding the
foregoing, the SEC will not accept the Partnership’s filings for any reason, the Partnership shall use its reasonable best efforts to post the reports referred to in the preceding paragraphs on its website within the time periods that would
apply if Targa Resources Partners were required to file those reports with the SEC. 
 The Issuers further covenant for so long
as any Registrable Securities remain outstanding, if at any time the Partnership is not required to file periodic reports with the SEC pursuant to Section 13 or 15(d) of the Exchange Act, to use their reasonable best efforts to make available
to any Holder or beneficial owner of Registrable Securities in connection with any sale thereof and any prospective purchaser of such Registrable Securities from such Holder or beneficial owner the information required by Rule 144A(d)(4) under the
Securities Act in order to permit resales of such Registrable Securities pursuant to Rule 144A. 
  

	9.	Underwritten Registrations 

 If any of the Registrable Securities covered by any Shelf Registration Statement are to be sold in an underwritten offering, the investment banker or investment bankers and manager or managers that will
manage the offering will be selected by the Holders of a majority in aggregate principal amount of such Registrable Securities included in such offering and reasonably acceptable to the Targa Companies. 

No Holder of Registrable Securities may participate in any underwritten registration hereunder unless such Holder (a) agrees to sell
such Holder’s Registrable Securities on the basis provided in any underwriting arrangements approved by the Persons entitled hereunder to approve such arrangements and (b) completes and executes all questionnaires, powers of attorney,
indemnities, underwriting agreements and other documents required under the terms of such underwriting arrangements. 

  
 -25-

	10.	Miscellaneous 

 (a)
No Inconsistent Agreements. The Issuers have not entered into, as of the date hereof, and shall not, after the date of this Agreement, enter into any agreement with respect to any of the Targa Companies’ securities that is inconsistent
with the rights granted to the Holders in this Agreement or otherwise conflicts with the provisions hereof. The Issuers have not entered and will not enter into any agreement with respect to any of the Targa Companies’ securities that will
grant to any Person piggy-back registration rights with respect to a Registration Statement. 
 (b) Adjustments Affecting
Registrable Securities. The Issuers shall not, directly or indirectly, take any action with respect to the Registrable Securities as a class that would adversely affect the ability of the Holders to include such Registrable Securities in a
registration undertaken pursuant to this Agreement. 
 (c) Amendments and Waivers. The provisions of this Agreement may
not be amended, modified or supplemented, and waivers or consents to departures from the provisions hereof may not be given, otherwise than with the prior written consent of the Holders of not less than a majority in aggregate principal amount of
the then outstanding Registrable Securities. Notwithstanding the foregoing, a waiver or consent to depart from the provisions hereof with respect to a matter that relates exclusively to the rights of Holders whose securities are being sold pursuant
to a Registration Statement and that does not directly or indirectly affect, impair, limit or compromise the rights of other Holders may be given by Holders of at least a majority in aggregate principal amount of the Registrable Securities being
sold by such Holders pursuant to such Registration Statement; provided, however, that the provisions of this sentence may not be amended, modified or supplemented except in accordance with the provisions of the immediately preceding sentence.

 (d) Notices. All notices and other communications (including without limitation any notices or other communications to
the Trustee) provided for or permitted hereunder shall be made in writing by hand-delivery, registered first-class mail, next-day air courier or facsimile: 
 1. if to a Holder of the Registrable Securities or any Participating Broker-Dealer, at the most current address of such Holder or Participating Broker-Dealer, as the case may be, set forth on the records
of the registrar under the Indenture, with a copy in like manner to the Representatives as follows: 
 Merrill Lynch, Pierce,
Fenner & Smith 
 Incorporated 
 One Bryant Park, New York, NY 10036 
 Attention: High Yield Legal Department

  
 -26-

 2. if to the Initial Purchasers, at the address specified above in
Section 10(d)(1); and 
 3. if to any Issuer, at the address as follows: 

Targa Resources Partners LP 
 Targa Resources Finance Corp. 
 1000 Louisiana, Suite 4300 

Houston, Texas 77002 
 Facsimile No.: (713) 584-1110 
 Attention: General Counsel 

with a copy to: 
 Vinson & Elkins L.L.P. 
 1001 Fannin, Suite 2500

 Houston, Texas 77002 
 Facsimile No.: (713) 615-5883 
 Attention: Christopher S.
Collins 
 All such notices and communications shall be deemed to have been duly given: when delivered by hand, if personally
delivered; five Business Days after being deposited in the mail, postage prepaid, if mailed; one Business Day after being timely delivered to a next-day air courier; and when receipt is acknowledged by the addressee, if sent by facsimile.

 Copies of all such notices, demands or other communications shall be concurrently delivered by the Person giving the same to
the Trustee at the address and in the manner specified in such Indenture. 
 (e) Successors and Assigns. This Agreement
shall inure to the benefit of and be binding upon the successors and assigns of each of the parties hereto; provided, however, that this Agreement shall not inure to the benefit of or be binding upon a successor or assign of a Holder unless and to
the extent such successor or assign holds Registrable Securities. 
 (f) Counterparts. This Agreement may be executed in
any number of counterparts and by the parties hereto in separate counterparts, each of which when so executed shall be deemed to be an original and all of which taken together shall constitute one and the same agreement. 

(g) Headings. The headings in this Agreement are for convenience of reference only and shall not limit or otherwise affect
the meaning hereof. 

  
 -27-

 (h) Governing Law. THIS AGREEMENT SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE
WITH THE LAWS OF THE STATE OF NEW YORK, AS APPLIED TO CONTRACTS MADE AND PERFORMED WHOLLY WITHIN THE STATE OF NEW YORK, WITHOUT REGARD TO PRINCIPLES OF CONFLICTS OF LAW. EACH OF THE PARTIES HERETO AGREES TO SUBMIT TO THE NON-EXCLUSIVE JURISDICTION
OF THE COMPETENT COURTS OF THE STATE OF NEW YORK IN ANY ACTION OR PROCEEDING ARISING OUT OF OR RELATING TO THIS AGREEMENT. 

(i) Severability. If any term, provision, covenant or restriction of this Agreement is held by a court of competent jurisdiction
to be invalid, illegal, void or unenforceable, the remainder of the terms, provisions, covenants and restrictions set forth herein shall remain in full force and effect and shall in no way be affected, impaired or invalidated, and the parties hereto
shall use commercially reasonable efforts to find and employ an alternative means to achieve the same or substantially the same result as that contemplated by such term, provision, covenant or restriction. It is hereby stipulated and declared to be
the intention of the parties that they would have executed the remaining terms, provisions, covenants and restrictions without including any of such that may be hereafter declared invalid, illegal, void or unenforceable. 

(j) Securities Held by the Issuers or their Affiliates. Whenever the consent or approval of Holders of a specified percentage of
Registrable Securities is required hereunder, Registrable Securities held by the Issuers or their affiliates (as such term is defined in Rule 405 under the Securities Act) shall not be counted in determining whether such consent or approval was
given by the Holders of such required percentage. 
 (k) Third Party Beneficiaries. Holders and Participating
Broker-Dealers are intended third party beneficiaries of this Agreement and this Agreement may be enforced by such Persons. 

(l) Entire Agreement. This Agreement, together with the Purchase Agreement and the Indenture, is intended by the parties as a
final and exclusive statement of the agreement and understanding of the parties hereto in respect of the subject matter contained herein and therein and any and all prior oral or written agreements, representations, or warranties, contracts,
understandings, correspondence, conversations and memoranda between the Initial Purchasers on the one hand and the Issuers on the other, or between or among any agents, representatives, parents, subsidiaries, affiliates, predecessors in interest or
successors in interest with respect to the subject matter hereof and thereof are merged herein and replaced hereby. 
 [Remainder
of page intentionally left blank] 

  
 -28-

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

					
	TARGA RESOURCES PARTNERS LP
		
	By:	 	Targa Resources GP LLC,
		 	Its general partner
		
	By:	 	 /s/ Matthew J. Meloy

		 	Name:	 	Matthew J. Meloy
		 	Title:	 	Senior Vice President, Chief Financial
		 		 	Officer and Treasurer
	
	TARGA RESOURCES PARTNERS FINANCE CORPORATION
		
	By:	 	 /s/ Matthew J. Meloy

		 	Name:	 	Matthew J. Meloy
		 	Title:	 	Senior Vice President, Chief Financial
		 		 	Officer and Treasurer

  
 Signature
Page to the Registration Rights Agreement 

					
	 TARGA CAPITAL LLC

TARGA COGEN LLC
 TARGA DOWNSTREAM LLC

TARGA GAS MARKETING LLC
 TARGA GAS PIPELINE
LLC
 TARGA GAS PROCESSING LLC
 TARGA
INTRASTATE PIPELINE LLC
 TARGA LIQUIDS MARKETING AND TRADE LLC
 TARGA LOUISIANA INTRASTATE LLC
 TARGA MIDSTREAM SERVICES LLC

TARGA MLP CAPITAL LLC
 TARGA NGL PIPELINE COMPANY
LLC
 TARGA RESOURCES OPERATING GP LLC

TARGA RESOURCES OPERATING LLC
 TARGA SOUND
TERMINAL LLC
 TARGA TERMINALS LLC

TARGA TRANSPORT LLC

		
	By:	 	 /s/ Matthew J. Meloy

		 	Name:	 	Matthew J. Meloy
		 	Title:	 	Senior Vice President, Chief Financial Officer and Treasurer

  
 Signature
Page to the Registration Rights Agreement 

					
	SOUND PIPELINE COMPANY, LLC
			
		 	By:	 	
		
		 	MANAGER:
		
		 	 /s/ Rene R. Joyce

		 	Rene R. Joyce
			
		 	By:	 	
		
		 	MEMBER:
		
		 	Targa Terminals LLC
			
		 	By:	 	 /s/ Matthew J. Meloy

		 	Name:	 	Matthew J. Meloy
		 	Title:	 	Senior Vice President, Chief Financial Officer and Treasurer

  
 Signature
Page to the Registration Rights Agreement 

							
	 MERRILL LYNCH, PIERCE, FENNER & SMITH

                        
INCORPORATED
 DEUTSCHE BANK SECURITIES INC.

WELLS FARGO SECURITIES, LLC
 BARCLAYS CAPITAL INC.
 RBS SECURITIES
INC.
 On behalf of the several Initial Purchasers listed on Schedule 1 to the Purchase Agreement

		
	By:	 	 MERRILL LYNCH, PIERCE, FENNER &
SMITH

                        
INCORPORATED

			
		 	By:	 	 /s/ J. Lex Maultsby

		 		 	Name:	 	J. Lex Maultsby
		 		 	Title:	 	Managing Director
		
	By:	 	DEUTSCHE BANK SECURITIES INC.
			
		 	By:	 	 /s/ Christopher Blum

		 		 	Name:	 	Christopher Blum
		 		 	Title:	 	Managing Director
			
		 	By:	 	 /s/ William Frauen

		 		 	Name:	 	William Frauen
		 		 	Title:	 	Managing Director
		
	By:	 	WELLS FARGO SECURITIES, LLC
			
		 	By:	 	 /s/ Robert H. Johnson, Jr.

		 		 	Name:	 	Robert H. Johnson, Jr.
		 		 	Title:	 	Managing Director
		
	By:	 	BARCLAYS CAPITAL INC.
			
		 	By:	 	 /s/ John Skrobe

		 		 	Name:	 	John Skrobe
		 		 	Title:	 	Managing Director
		
	By:	 	RBS SECURITIES INC.
			
		 	By:	 	 /s/ Michael F. Newcomb II

		 		 	Name:	 	Michael F. Newcomb II
		 		 	Title:	 	Managing Director

  
 Signature
Page to the Registration Rights AgreementPurchase Agreement

 Exhibit 10.1 
 Execution Version 
 Targa Resources Partners LP

 and 
 Targa Resources Partners Finance Corporation 
 $400,000,000

5 1/4% Senior Notes Due 2023 

PURCHASE AGREEMENT 
 October 22, 2012 
 MERRILL LYNCH, PIERCE,
FENNER & SMITH 

                        
INCORPORATED 
 DEUTSCHE BANK SECURITIES INC. 

WELLS FARGO SECURITIES, LLC 
 BARCLAYS CAPITAL INC. 
 RBS SECURITIES
INC. 
 As representatives of the 
 several Initial Purchasers listed 
 in Schedule 1 hereto 

c/o Merrill Lynch, Pierce, Fenner & Smith 
                            Incorporated 

One Bryant Park 
 New York, New York 10036

 Ladies and Gentlemen: 
 Targa Resources Partners LP, a limited partnership organized under the laws of Delaware (the “Partnership”), along with Targa Resources Partners Finance Corporation (“Finance
Co” and, together with the Partnership, the “Issuers”) hereby confirm their agreement with the several Initial Purchasers listed in Schedule 1 hereto (the “Initial Purchasers”) for whom Merrill Lynch,
Pierce, Fenner & Smith Incorporated, Deutsche Bank Securities Inc., Wells Fargo Securities, LLC, Barclays Capital Inc. and RBS Securities Inc. are acting as representatives (the “Representatives”) as set forth below.

 Targa Resources GP LLC, a Delaware limited liability company (the “General Partner”), owns a 2% general
partnership interest in the Partnership. The Partnership’s direct or indirect majority-owned subsidiaries are listed in Schedule 2 hereto and are referred to herein as the “Subsidiaries”; and the Subsidiaries listed in
Schedule 3 hereto are referred to herein as the “Non-Guarantor Subsidiaries.” 
 Section 1. The
Securities. Subject to the terms and conditions herein contained, the Issuers propose to issue and sell to the Initial Purchasers $400,000,000 aggregate 

 
principal amount of their 5 1/4% Senior Notes due 2023 (the “Notes”), which will be unconditionally guaranteed on a senior basis as to
principal, premium, if any, and interest (the “Guarantees”) by the Subsidiaries of the Partnership named in Schedule 4 hereto (each individually, a “Guarantor” and collectively, the
“Guarantors” and, together with the Non-Guarantor Subsidiaries (other than the entities named in Schedule 5 hereto), the “Material Subsidiaries”). The Guarantors, other than Sound Pipeline Company, LLC, a
Washington limited liability company (the “Washington Guarantor”), are referred to herein as the “Delaware Guarantors.” The Notes are to be issued under an indenture (the “Indenture”) to be dated as
of October 25, 2012, by and among the Issuers, the Guarantors and U.S. Bank National Association, as Trustee (the “Trustee”). 
 The Notes will be offered and sold to the Initial Purchasers without being registered under the Securities Act of 1933, as amended (the “Act”), in reliance on exemptions therefrom.

 In connection with the sale of the Notes, the Issuers have prepared a preliminary offering memorandum dated October 22,
2012 (including any documents incorporated therein by reference, the “Preliminary Memorandum”) setting forth or including a description of the terms of the Notes, the terms of the offering of the Notes, a description of the
Partnership and any material developments relating to the Partnership after the date of the most recent historical financial statements included therein. As used herein, “Pricing Disclosure Package” shall mean the Preliminary
Memorandum, as supplemented or amended by the written communications listed on Annex A hereto in the most recent form that has been prepared and delivered by the Issuers to the Initial Purchasers in connection with their solicitation of
offers to purchase Notes prior to the time when sales of the Notes were first made (the “Time of Execution”). Promptly after the Time of Execution and in any event no later than the second Business Day following the Time of
Execution, the Issuers will prepare and deliver to each Initial Purchaser a final offering memorandum (including any documents incorporated therein by reference, the “Final Memorandum”), which will consist of the Preliminary
Memorandum with such changes therein as are required to reflect the information contained in the amendments or supplements listed on Annex A hereto. The Issuers hereby confirm that each of the Issuers has authorized the use of the Pricing
Disclosure Package, the Final Memorandum and the Recorded Road Show (defined below) in connection with the offer and sale of the Notes by the Initial Purchasers. 
 All references in this Agreement to financial statements and schedules and other information which is “contained,” “included” or “stated” in the Offering Memorandum (as
defined below) (or other references of like import) shall be deemed to mean and include all such financial statements and schedules and other information which are incorporated by reference in the Offering Memorandum; and all references in this
Agreement to amendments or supplements to the Offering Memorandum shall be deemed to mean and include the filing of any document under the Securities Exchange Act of 1934 (the “Exchange Act”) which is incorporated by reference in
the Offering Memorandum. 
 The Initial Purchasers and their direct and indirect transferees of the Notes will be entitled to
the benefits of the Registration Rights Agreement, substantially in the form attached hereto as Exhibit A (the “Registration Rights Agreement”), pursuant to which the Issuers and the Guarantors will agree, among other things,
to file a registration statement (the “Registration  

  
 2 

 
Statement”) with the Securities and Exchange Commission (the “Commission”) registering the Notes or the Exchange Notes (as defined in the Registration Rights
Agreement) under the Act, unless (i) the Notes are freely transferable without volume restrictions by holders that are not affiliates of the Issuers in accordance with Rule 144 (or any similar provision then in effect), (ii) the Notes do
not bear a restrictive legend and (iii) the Notes do not bear a restricted CUSIP number as of the 370th day after the Closing Date (as defined in Section 3 below). 

Section 2. Representations and Warranties. As of the Time of Execution and at the Closing Date, the Issuers and the
Guarantors jointly and severally represent and warrant to and agree with each of the Initial Purchasers as follows (references in this Section 2 to the “Offering Memorandum” are to (i) the Pricing Disclosure Package in the
case of representations and warranties made as of the Time of Execution and (ii) both the Pricing Disclosure Package and the Final Memorandum in the case of representations and warranties made at the Closing Date): 

(a) The Preliminary Memorandum, on the date thereof, did not contain any untrue statement of a material fact or omit to
state any material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. At the Time of Execution, the Pricing Disclosure Package did not, and on the Closing Date, will not, and
the Final Memorandum as of its date and on the Closing Date will not contain any untrue statement of a material fact or omit to state any material fact necessary to make the statements therein, in the light of the circumstances under which they were
made, not misleading; provided, however, that the Issuers and the Guarantors make no representation or warranty as to the information contained in or omitted from the Pricing Disclosure Package and Final Memorandum, in reliance upon
and in conformity with information furnished in writing to the Partnership by or on behalf of the Initial Purchasers through the Representatives specifically for inclusion therein. The Issuers and the Guarantors have not distributed or referred to
and will not distribute or refer to any written communications (as defined in Rule 405 of the Act) that constitute an offer to sell or solicitation of an offer to buy the Notes (each such communication by the Issuers and the Guarantors or each of
their agents and representatives (other than the Pricing Disclosure Package and Final Memorandum) an “Issuer Written Communication”) other than the Pricing Disclosure Package, the Final Memorandum and the recorded electronic road
show made available to investors (the “Recorded Road Show”). Any information in an Issuer Written Communication that is not otherwise included in the Pricing Disclosure Package and the Final Memorandum does not conflict with the
Pricing Disclosure Package or the Final Memorandum and, each Issuer Written Communication, when taken together with the Pricing Disclosure Package does not at the Time of Execution and when taken together with the Final Memorandum at the Closing
Date will not, contain any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were made, not misleading. 

(b) Each of the Partnership, the General Partner and the Material Subsidiaries has been duly organized or formed and is
validly existing as a limited partnership or limited liability company, as applicable, in good standing under the laws of the jurisdiction set forth opposite its name in Schedule 2 attached hereto, with full power and

  
 3 

 
authority to own or lease its properties and to conduct its business, in each case as described in the Offering Memorandum in all material respects. Each of the Partnership, the General Partner
and the Material Subsidiaries is duly registered or qualified to do business as a foreign limited partnership or limited liability company, as applicable, and is in good standing under the laws of each jurisdiction which requires such registration
or qualification, except where the failure to be so registered or qualified would not reasonably be expected to have a Material Adverse Effect. “Material Adverse Effect” shall mean a material adverse effect on (i) the business
or properties, earnings, condition (financial or otherwise) or prospects, taken as a whole, of the Partnership and its Subsidiaries, considered as one enterprise, whether or not in the ordinary course of business, or (ii) the ability of each
Issuer and each Guarantor to perform its obligations under the Notes. 
 (c) Finance Co has been duly
incorporated and is validly existing as a corporation in good standing under the laws of the State of Delaware. 

(d) The General Partner is the sole general partner of the Partnership with a 2.0% general partner interest in the
Partnership; such general partner interest has been duly and validly authorized and issued in accordance with the agreement of limited partnership of the Partnership (as the same may be amended or restated at or prior to the Closing Date, the
“Partnership Agreement”); and the General Partner owns such general partner interest free and clear of all liens, encumbrances, security interests, charges or other claims (“Liens”) other than (i) those created
by or arising under the Delaware Revised Uniform Limited Partnership Act (the “Delaware LP Act”) or the Partnership Agreement, (ii) restrictions on transferability and other Liens described in the Offering Memorandum,
(iii) those arising under that certain Second Amended and Restated Credit Agreement, dated October 3, 2012, by and among the Partnership, Bank of America, N.A., as administrative agent, and other lenders named therein (as supplemented,
amended or restated and together with the agreements, exhibits and attachments contemplated or included therein, the “Partnership Credit Agreement”), and (iv) those arising under the Credit Agreement, dated October 3,
2012, by and among Targa Resources Corp., Deutsche Bank Trust Company Americas, as administrative agent, collateral agent, swing line lender and the L/C issuer and each lender from time to time party thereto (the “TRC Credit
Agreement”). 
 (e) All of the issued and outstanding equity interests of each Material Subsidiary
(i) have been duly authorized and validly issued (in accordance with the bylaws or the limited partnership or limited liability company agreement (collectively, the “Organizational Agreements”) or the certificate of limited
partnership, formation or conversion, or other similar organizational document (in each case as in effect on the date hereof and as the same may be amended or restated on or prior to the Closing Date) (collectively with the Organizational
Agreements, the “Organizational Documents”), as applicable, of such Material Subsidiary), are fully paid (in the case of an interest in a limited partnership or limited liability company, to the extent required under the
Organizational Documents of such Material Subsidiary) and nonassessable (except as such nonassessability may be affected by Sections 17-607 and 17-804 of the Delaware LP Act or Sections 18-607 and 18-804 of the Delaware Limited Liability Company Act

  
 4 

 
(the “Delaware LLC Act”), as applicable), other than equity interests that are not owned, directly or indirectly, by the Partnership, and (ii) other than Cedar Bayou
Fractionators, L.P., a Delaware limited partnership (“CBF”), Downstream Energy Ventures Co., L.L.C., a Delaware limited liability company (“DEV”), Versado Gas Processors, L.L.C., a Delaware limited liability company
(“Versado”), Venice Energy Services Company, L.L.C., a Delaware limited liability company (“VESCO”), and Venice Gathering System, L.L.C., a Delaware limited liability company (“VGS”), are owned,
directly or indirectly, by the Partnership, free and clear of all Liens, other than those arising under the Partnership Credit Agreement. The Partnership owns, directly or indirectly, an 88% interest in CBF, an 88% interest in DEV, a 63% interest in
Versado, a 76.7536% interest in VESCO and a 77% interest in VGS, in each case free and clear of all Liens except those arising under the Partnership Credit Agreement and the applicable Organizational Documents. The Subsidiaries other than the
Material Subsidiaries did not, individually or in the aggregate, account for (x) more than 10% of the total assets of the Partnership and the Subsidiaries, taken as a whole, as of June 30, 2012 or (y) more than 10% of the net income
of the Partnership and the Subsidiaries, taken as a whole, for the six months ended June 30, 2012. 
 (f)
The authorized, issued and outstanding equity interests of the Partnership are as set forth in the Offering Memorandum as of the dates specified therein. All of the issued equity interests of the Partnership and all of the issued shares of capital
stock of Finance Co have been duly authorized and validly issued and are fully paid (to the extent required in the Partnership Agreement with respect to the Partnership) and nonassessable (except as such nonassessability may be affected by Sections
17-607 and 17-804 of the Delaware LP Act with respect to the Partnership); and none of the outstanding equity interests of the Partnership and none of the outstanding shares of capital stock of Finance Co were issued in violation of the preemptive
or other similar rights of any security holder of the Partnership or Finance Co, respectively. 
 (g) Except as
otherwise disclosed in the Offering Memorandum and except with respect to the incentive distribution rights held by the General Partner, there are no outstanding (i) securities or obligations of the Partnership convertible into or exchangeable
for any equity interests of the Partnership, (ii) warrants, rights or options to subscribe for or purchase from the Partnership any such equity interests or any such convertible or exchangeable securities or obligations or
(iii) obligations of the Partnership to issue any such equity interests, any such convertible or exchangeable securities or obligations, or any such warrants, rights or options. 

(h) Each of the Issuers and each Guarantor has all requisite corporate, partnership or limited liability company power and
authority to execute, deliver and perform each of its obligations under the Notes, the Exchange Notes and the Private Exchange Notes (as defined in the Registration Rights Agreement). The Notes, the Exchange Notes and the Private Exchange Notes have
each been duly authorized by the Issuers and, when executed by each of the Issuers and authenticated by the Trustee in accordance with the provisions of the Indenture and, in the case of the Notes, when delivered to and paid for by the Initial
Purchasers in accordance with the terms of this Agreement, and, in the case of any Exchange Notes or Private Exchange Notes, when 

  
 5 

 
issued in exchange for the Notes as provided in the Registration Rights Agreement, will constitute valid and legally binding obligations of each of the Issuers, entitled to the benefits of the
Indenture, and enforceable against each of the Issuers in accordance with their terms, except that the enforcement thereof may be subject to (i) bankruptcy, insolvency, reorganization, moratorium or other similar laws now or hereafter in effect
relating to creditors’ rights generally, and (ii) general principles of equity and the discretion of the court before which any proceeding therefor may be brought (collectively, the “Enforceability Exceptions”). The
Guarantees have been duly authorized and, upon the due issuance and delivery of the related Notes and the due endorsement of the notations of Guarantee thereon, will constitute valid and legally binding obligations of each Guarantor, enforceable
against each Guarantor in accordance with their terms, except that the enforcement thereof may be subject to the Enforceability Exceptions, and will be entitled to the benefits of the Indenture. 

(i) Each of the Issuers and each Guarantor has all requisite corporate, partnership or limited liability company power and
authority to execute, deliver and perform each of its obligations under the Indenture. The Indenture meets the requirements for qualification under the Trust Indenture Act of 1939, as amended (the “TIA”). The Indenture has been duly
authorized by each of the Issuers and Guarantors and, when executed and delivered by each of the Issuers and each Guarantor (assuming the due authorization, execution and delivery by the Trustee), will constitute a valid and legally binding
agreement of each of the Issuers and each Guarantor, enforceable against each of the Issuers and each Guarantor in accordance with its terms, except that the enforcement thereof may be subject to the Enforceability Exceptions. 

(j) Each of the Issuers and each Guarantor has all requisite corporate, partnership or limited liability company power and
authority to execute, deliver and perform each of its obligations under the Registration Rights Agreement. The Registration Rights Agreement has been duly authorized by the Issuers and the Guarantors and, when executed and delivered by each of the
Issuers and each Guarantor (assuming the due authorization, execution and delivery by the Initial Purchasers), will constitute a valid and legally binding agreement of each of the Issuers and each Guarantor, enforceable against each of the Issuers
and each Guarantor in accordance with its terms, except that (A) the enforcement thereof may be subject to the Enforceability Exceptions and (B) any rights to indemnity or contribution thereunder may be limited by federal and state
securities laws and public policy considerations. 
 (k) Each of the Issuers and each Guarantor has all requisite
corporate, partnership or limited liability company power and authority to execute, deliver and perform each of its obligations under this Agreement and to consummate the transactions contemplated hereby. This Agreement and the consummation by each
of the Issuers and each Guarantor of the transactions contemplated hereby have been duly authorized by each of the Issuers and each Guarantor. This Agreement has been duly executed and delivered by each of the Issuers and each Guarantor. 

(l) No permit, consent, approval, authorization, order, registration, filing or qualification (“Permits”)
of or with any court or governmental agency or body having 

  
 6 

 
jurisdiction over any of the Issuers or any Material Subsidiary or any of their respective properties or assets is required in connection with the issuance and sale by the Issuers of the Notes to
the Initial Purchasers or the consummation by the Issuers of the other transactions contemplated hereby, except (i) such Permits as may be required under the Act, the Exchange Act and state securities or “Blue Sky” laws of any
jurisdiction, (ii) such Permits as have been obtained or will be obtained prior to the Closing Date, (iii) such Permits that, if not obtained, could not, individually or in the aggregate, reasonably be expected to have a Material Adverse
Effect and (iv) such Permits as are disclosed in the Offering Memorandum. 
 (m) Neither of the Issuers nor
any Material Subsidiary is in (i) violation of its Organizational Documents, or violation of any statute, law, rule or regulation, or any judgment, order, injunction or decree of any court, governmental agency or body or arbitrator having
jurisdiction over any of the Issuers or Material Subsidiaries or any of their respective properties or assets or, (ii) breach, default (or an event which, with notice or lapse of time or both, would constitute such an event) or violation in the
performance of any obligation, agreement or condition contained in any indenture, mortgage, deed of trust, loan agreement, lease or other agreement or instrument to which it is a party or by which it or any of its properties may be bound, which in
the case of either clause (i) or (ii) would, if continued, have a Material Adverse Effect. 
 (n) None
of (i) the execution, delivery and performance by either of the Issuers or any Guarantor of this Agreement, the Indenture and the Registration Rights Agreement or (ii) the consummation by either of the Issuers or any Guarantor of the
transactions contemplated hereby (including, without limitation, the issuance and sale of the Notes to the Initial Purchasers), (A) conflicts or will conflict with or constitutes or will constitute a violation of the Organizational Documents of
either of the Issuers or any Guarantor, (B) conflicts or will conflict with or constitutes or will constitute a breach or violation of, or a default (or an event that, with notice or lapse of time or both, would constitute such a default) under
any indenture, mortgage, deed of trust, loan agreement, lease or other agreement or instrument to which either of the Issuers or any Guarantor is a party or by which any of them or any of their respective properties may be bound, or
(C) (assuming compliance with all applicable state securities or “Blue Sky” laws and assuming the accuracy of the representations and warranties of the Initial Purchasers in Section 8 hereof) violates or will violate any statute,
judgment, decree, order, rule or regulation applicable to either of the Issuers or any Guarantor or any of their respective properties or assets, except, with respect to clauses (B) and (C) only, for any such conflict, breach or violation
that would not, individually or in the aggregate, have a Material Adverse Effect. 
 (o) The Partnership
Agreement has been duly authorized, executed and delivered by the General Partner, and is a valid and legally binding agreement of the General Partner, enforceable against the General Partner in accordance with its terms. 

(p) The Organizational Agreements of the Material Subsidiaries, as applicable, have been duly authorized, executed and
delivered by the parties thereto, and are valid and legally binding agreements of such parties, enforceable against such parties 

  
 7 

 
in accordance with their terms; provided, that, with respect to such agreements, the enforceability thereof may be limited by the Enforceability Exceptions; provided, further; that
the indemnity, contribution and exoneration provisions contained in any of such agreements may be limited by applicable laws and public policy. 
 (q) The audited consolidated financial statements of the Partnership and its Subsidiaries included in the Offering Memorandum present fairly in all material respects the financial position, results of
operations and cash flows of the Partnership and its consolidated Subsidiaries purported to be shown thereby on the basis stated therein at the respective dates or for the respective periods to which they apply, and have been prepared in accordance
with generally accepted accounting principles consistently applied throughout the periods involved, except to the extent disclosed therein. The summary and selected financial, statistical and operating information in the Offering Memorandum is
accurately presented in all material respects and prepared on a basis consistent with the audited and unaudited historical consolidated financial statements, as applicable, from which it has been derived. PricewaterhouseCoopers LLP, which has
certified certain financial statements of the Partnership and its Subsidiaries and delivered its report with respect to the audited consolidated financial statements incorporated by reference in the Pricing Disclosure Package and Final Memorandum
(the “Independent Accountants”), is an independent public accounting firm within the meaning of the Act and the rules and regulations promulgated thereunder. The interactive data in eXtensbile Business Reporting Language included or
incorporated by reference in the Pricing Disclosure Package and the Final Memorandum fairly presents the information called for in all material respects and has been prepared in accordance with the Commission’s rules and guidelines applicable
thereto in all material respects. 
 (r) Except as set forth or contemplated in the Offering Memorandum, there is
(i) no action, suit or proceeding before or by any court, arbitrator or governmental agency, body or official, domestic or foreign, now pending or, to the knowledge of the Partnership, threatened, to which any of the Issuers or Material
Subsidiaries is or may be a party or to which the business or property of any of the Issuers or Material Subsidiaries is or may be subject, (ii) to the knowledge of the Partnership, no statute, rule, regulation or order that has been enacted,
adopted or issued by any governmental agency and (iii) no injunction, restraining order or order of any nature issued by a federal or state court or foreign court of competent jurisdiction to which any of the Issuers or Material Subsidiaries is
or may be subject, that, in the case of clauses (i), (ii) and (iii) above, is reasonably expected to (A) individually or in the aggregate have a Material Adverse Effect, (B) prevent the consummation of the issuance or sale of the
Notes to be sold hereunder, or (C) draw into question the validity of this Agreement. 
 (s) Each of the
Issuers and the Material Subsidiaries possesses such permits, licenses, approvals, consents and other authorizations (collectively, “Governmental Licenses”) issued by the appropriate federal, state, local or foreign regulatory
agencies or bodies necessary to conduct their respective businesses, except where the failure so to possess would not, individually or in the aggregate, result in a Material Adverse Effect; each of the Issuers and each Material Subsidiary is in
compliance with the terms and conditions of all such Governmental Licenses, except where the failure so to comply 

  
 8 

 
would not, individually or in the aggregate, result in a Material Adverse Effect; all of the Governmental Licenses are valid and in full force and effect, except when the invalidity of such
Governmental Licenses or the failure of such Governmental Licenses to be in full force and effect would not, individually or in the aggregate, result in a Material Adverse Effect; and except as described in the Offering Memorandum, neither of the
Issuers and no Material Subsidiary has received any notice of proceedings relating to the revocation or modification of any such Governmental Licenses which, individually or in the aggregate, if the subject of an unfavorable decision, ruling or
finding, would result in a Material Adverse Effect. 
 (t) Since the date of the most recent financial statements
appearing in the Offering Memorandum and except as set forth or contemplated in the Offering Memorandum, (i) none of the Issuers or the Material Subsidiaries has incurred any liabilities or obligations, direct or contingent, or entered into or
agreed to enter into any transactions or contracts (written or oral) not in the ordinary course of business, which liabilities, obligations, transactions or contracts would, individually or in the aggregate, be material to the general affairs,
management, business, condition (financial or otherwise), prospects or results of operations of the Partnership and its Subsidiaries, taken as a whole and (ii) the Partnership has not purchased any of its outstanding equity interests, nor
declared, paid or otherwise made any distribution of any kind on its equity interests (other than (A) the Partnership’s quarterly distributions and (B) with respect to any of the Subsidiaries, the purchase of, or dividend or
distribution on, capital stock or equity interests owned by the Partnership). 
 (u) Except as set forth or
contemplated in the Offering Memorandum, each of the Issuers and the Material Subsidiaries has filed all foreign, federal, state and local tax returns that are required to be filed or has requested extensions thereof, except in any case in which the
failure so to file, individually or in the aggregate, would not have a Material Adverse Effect, and has paid all taxes required to be paid by it and any other assessment, fine or penalty levied against it, to the extent that any of the foregoing is
due and payable, except for any such assessment, fine or penalty that is currently being contested in good faith or as, individually or in the aggregate, would not have a Material Adverse Effect. 

(v) Immediately after the consummation of the transactions contemplated by this Agreement, the fair value and present fair
saleable value of the assets of each of the Issuers and the Material Subsidiaries (each on a consolidated basis) will exceed the sum of its stated liabilities and identified contingent liabilities. Each of the Issuers and the Guarantors is not now
nor after giving effect to the issuance of the Notes and the execution, delivery and performance of this Agreement, the Registration Rights Agreement and the Indenture, and the consummation of the transactions contemplated thereby or described in
the Offering Memorandum, will be (i) insolvent, (ii) left with unreasonably small capital with which to engage in its anticipated business or (iii) incurring debts or other obligations beyond its ability to pay such debts or
obligations as they become due. 
 (w) Any statistical and market-related data included in the Offering
Memorandum are based on or derived from sources that each of the Issuers and the Guarantors believe to be reliable and accurate, and the Issuers have obtained the written consent to the use of such data from such sources to the extent required.

  
 9 

 (x) Each of the Issuers and the Material Subsidiaries has good and
marketable title to all real property and good title to all personal property described in the Offering Memorandum as being owned by it free and clear of all Liens, except (i) as described, and subject to limitations contained, in the Offering
Memorandum, (ii) Liens that arise under the Partnership Credit Agreement or the TRC Credit Agreement or (iii) to the extent the failure to have such title or the existence of such Liens would not, individually or in the aggregate, have a
Material Adverse Effect; provided that, with respect to any real property and buildings held under lease by the Partnership and the Material Subsidiaries, such real property and buildings are held under valid and subsisting and enforceable
leases with such exceptions as do not materially interfere with the use of the properties of the Partnership and the Material Subsidiaries taken as a whole as they have been used in the past as described in the Offering Memorandum and are proposed
to be used in the future as described in the Offering Memorandum, except to the extent the failure to hold such valid and subsisting and enforceable leases would not, individually or in the aggregate, have a Material Adverse Effect. 

(y) The Partnership and the Material Subsidiaries have such easements or rights-of-way (collectively,
“rights-of-way”) as are necessary to conduct their business in the manner described, and subject to the limitations contained, in the Offering Memorandum, except for (i) qualifications, reservations and encumbrances that would
not have, individually or in the aggregate, a Material Adverse Effect, (ii) such rights-of-way that, if not obtained, would not have, individually or in the aggregate, a Material Adverse Effect and (iii) rights-of-way held by affiliates of
the Partnership as nominee for the benefit of the Partnership and the Material Subsidiaries. 
 (z) Except for
such exceptions that would not reasonably be expected to result in a Material Adverse Effect, (i) each of the Issuers and each Material Subsidiary owns or possesses, or can acquire or use on reasonable terms, adequate patents, patents rights,
licenses, inventions, copyrights, know-how (including trade secrets and other unpatented and/or unpatentable proprietary or confidential information, systems or procedures), trademarks, service marks, trade names or other intellectual property
(collectively, “Intellectual Property”) necessary to carry out their respective businesses now or proposed to be operated by them as described in the Offering Memorandum, and (ii) each of the Issuers and each Material
Subsidiary has not received any notice and is not otherwise aware of any infringement of or conflict with asserted rights of others with respect to any Intellectual Property or of any facts or circumstances that would render any Intellectual
Property invalid or inadequate to protect any of its interest therein. 
 (aa) There are no legal or governmental
proceedings pending or, to the knowledge of the Partnership, threatened or contemplated, against either of the Issuers or the Material Subsidiaries or any of their respective properties or assets that would be required to be described in a
prospectus pursuant to the Act that are not described in the Offering Memorandum, nor are there any agreements, contracts, indentures, leases or other instruments that would be required to be described in a prospectus pursuant to the

  
 10 

 
Act that are not described in the Offering Memorandum. Except as set forth or contemplated in the Pricing Disclosure Package and the Final Memorandum, to the knowledge of the Partnership, no
legal or governmental proceedings are pending or threatened to which either of the Issuers or any of the Material Subsidiaries is a party or to which the property or assets of the Issuers or any Material Subsidiary is subject that, if determined
adversely to the Issuers or the Material Subsidiaries, could be reasonably expected to result, individually or in the aggregate, in a Material Adverse Effect. 
 (bb) The Partnership is in compliance in all material respects with all applicable provisions of the Sarbanes Oxley Act of 2002 and the rules and regulations promulgated in connection therewith (the
“Sarbanes Oxley Act”). 
 (cc) Except as would not, individually or in the aggregate, result in
a Material Adverse Effect: (i) the Partnership and the Material Subsidiaries are and, during the relevant time periods specified in all applicable statutes of limitation, have been in compliance with applicable Environmental Laws (as defined
below); (ii) the Partnership and the Material Subsidiaries have obtained and are in compliance with all Environmental Permits (as defined below) required of them under applicable Environmental Laws to conduct the Partnership’s business as
presently conducted; (iii) none of the Partnership or the Material Subsidiaries has received any written notice of an action, suit, demand, claim, hearing, notice of violation or investigation, or proceeding, which matter remains unresolved and
alleges liability of the Partnership or any Material Subsidiary under, or violation by the Partnership or any Material Subsidiary of, any Environmental Law, and to the knowledge of the Partnership, no facts, circumstances or conditions exist that
would reasonably be expected to result in the receipt of such notice; and (iv) to the knowledge of the Partnership, there are no releases of Hazardous Materials (as defined below) that would reasonably be expected to give rise to liabilities or
obligations under any Environmental Law. 
 For purposes of this Agreement: (i) “Environmental Law” means
all federal, state and local laws, rules (including but not limited to rules of common law), regulations, ordinances, orders, decrees and other legally-enforceable requirements of any governmental entity relating to pollution, protection of human
health (to the extent relating to exposure to Hazardous Materials) or the Environment, including those relating to the generation, storage, treatment, disposal, transport or release of Hazardous Materials; (ii) “Hazardous
Materials” means any pollutant or contaminant, chemical, material, waste or substance in any form regulated under any applicable Environmental Law including, but not limited to any: (A) “hazardous substance” as defined
in the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended; (B) “hazardous waste” as defined in the Resource Conservation and Recovery Act, as amended; (C) petroleum or petroleum product,
natural gas, natural gas liquids, or crude oil or any fraction thereof; (D) polychlorinated biphenyls; and (E) naturally occurring radioactive materials; and (iii) “Environmental Permits” means any permit,
authorization, license, variance, and approvals required under applicable Environmental Law; (iv) “Environment” means ambient air, indoor air, surface water, groundwater, drinking water, land surface and subsurface strata, and
natural resources such as wetlands, flora and fauna. 

  
 11 

 (dd) There is no strike, labor dispute, slowdown or work stoppage with the
employees of the Issuers or the Material Subsidiaries that is pending or, to the knowledge of the Partnership, threatened that could reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. 

(ee) Except as disclosed in the Offering Memorandum, no proceedings for the merger, consolidation, liquidation or
dissolution of either of the Issuers or the Material Subsidiaries or the sale of all or a material part of the assets of either of the Issuers or the Material Subsidiaries or any material acquisition by either of the Issuers or any Material
Subsidiary are pending that would be required by the Act to be disclosed in a prospectus included in a Registration Statement on Form S-1 under the Act. 
 (ff) (i) The Issuers and the Material Subsidiaries have not sustained, since the date of the latest audited financial statements included in the Offering Memorandum (exclusive of any amendment or
supplement thereto), any loss or interference with its business or properties from fire, explosion, flood, accident or other calamity, whether or not covered by insurance, or from any labor dispute or court or governmental action, order or decree
(whether domestic or foreign) otherwise than as set forth in the Offering Memorandum (exclusive of any amendment or supplement thereto) and (ii) since such date, there has not occurred any change or development, in each case, that could
reasonably be expected, individually or in the aggregate, to have a Material Adverse Effect. 
 (gg) Each of the
Issuers and the Material Subsidiaries carries or is entitled to the benefits of insurance relating to their assets, with financially sound and reputable insurers, in such amounts and covering such risks as is commercially reasonable, and all such
insurance is in full force and effect. Each of the Issuers and the Material Subsidiaries has no reason to believe that it will not be able (i) to renew their existing insurance coverage relating to their respective assets as and when such
policies expire or (ii) to obtain comparable coverage relating to their respective assets from similar institutions as may be necessary or appropriate to conduct such business as now conducted and at a cost that would not reasonably be expected
to have a Material Adverse Effect. 
 (hh) Except as disclosed in the Offering Memorandum, neither of the Issuers
nor any Material Subsidiary is subject to rate regulation under federal law. 
 (ii) Each of the Issuers and each
Material Subsidiary is in compliance in all material respects with its obligations under all presently applicable provisions of the Employee Retirement Income Security Act of 1974, as amended, including the regulations and published interpretations
thereunder (“ERISA”); with respect to each “plan” (as defined in Section 3(3) of ERISA) in which any current or former employees of the Partnership or of any trade or business that, together with the Partnership, is
or has been treated, within the six years preceding such date, as a single employer under Section 4001(b)(1) of ERISA or Section 414 of the Internal Revenue Code of 1986, as amended, including the regulations and published interpretations
thereunder (the “Code”), are or have been eligible to participate; no “reportable event” (as defined in ERISA) has 

  
 12 

 
occurred with respect to any such plan that is a “pension plan” (as defined in ERISA, hereinafter, a “Pension Plan”) for which any of Issuer or a Material Subsidiary
would have any liability, excluding any reportable event for which a waiver could apply; none of the Issuers or Material Subsidiaries expects to incur liability under (i) Title IV of ERISA with respect to termination of, or withdrawal from, any
Pension Plan or (ii) Sections 430 or 4971 of the Code with respect to any Pension Plan. None of the Partnership or the Material Subsidiaries maintains a Pension Plan that is subject to Title IV of ERISA. 

(jj) The Partnership and the Material Subsidiaries maintain a system of internal accounting controls sufficient to provide
reasonable assurance that (i) transactions are executed in accordance with management’s general or specific authorizations; (ii) transactions are recorded as necessary to permit preparation of financial statements in conformity with
generally accepted accounting principles and to maintain asset accountability; (iii) access to assets is permitted only in accordance with management’s general or specific authorization; and (iv) the recorded accountability for assets
is compared with the existing assets at reasonable intervals and appropriate action is taken with respect to any differences. The Partnership’s and the Material Subsidiaries’ internal controls over financial reporting are effective and
none of the Partnership and the Material Subsidiaries is aware of any material weakness in their internal control over financial reporting. 
 (kk) (i) The Partnership has established and maintains disclosure controls and procedures (to the extent required by and as such term is defined in Rule 13a-15 under the Exchange Act), (ii) such
disclosure controls and procedures are designed to ensure that the information required to be disclosed by the Partnership in the reports filed or to be filed or submitted under the Exchange Act, as applicable, is accumulated and communicated to
management of the General Partner, including its principal executive officers and principal financial officers, as appropriate, to allow timely decisions regarding required disclosure to be made and (iii) such disclosure controls and procedures
are effective in all material respects to perform the functions for which they were established to the extent required by Rule 13a-15 of the Exchange Act. 
 (ll) Neither of the Issuers nor any Guarantor is an “investment company” or “promoter” or “principal underwriter” for an “investment company,” as such terms are
defined in the Investment Company Act of 1940, as amended (the “Investment Company Act”), and the rules and regulations thereunder. 
 (mm) The descriptions of the Notes, the Indenture and the Registration Rights Agreement contained in the Offering Memorandum are accurate in all material respects. 

(nn) No holder of securities of either of the Issuers or the Material Subsidiaries will be entitled to have such
securities registered under the registration statements that may be required to be filed by the Issuers pursuant to the Registration Rights Agreement other than as expressly permitted thereby. 

  
 13 

 (oo) None of the Issuers, any Material Subsidiary or, to the knowledge of
the Issuers, any of their respective Affiliates (as defined in Rule 501(b) of Regulation D under the Act) has directly, or through any agent, (i) sold, offered for sale, solicited offers to buy or otherwise negotiated in respect of, any
“security” (as defined in the Act) that is or could be integrated with the sale of the Notes in a manner that would require the registration under the Act of the Notes or (ii) engaged in any form of general solicitation or general
advertising (as those terms are used in Regulation D under the Act) in connection with the offering of the Notes or in any manner involving a public offering within the meaning of Section 4(2) of the Act. Assuming the accuracy of the
representations and warranties of the Initial Purchasers in Section 8 hereof, it is not necessary in connection with the offer, sale and delivery of the Notes to the Initial Purchasers or the endorsement of the Guarantees by the Guarantors in
the manner contemplated by this Agreement to register any of the Notes under the Act or to qualify the Indenture under the TIA. 
 (pp) No securities of either of the Issuers or the Guarantors are of the same class (within the meaning of Rule 144A under the Act) as the Notes and listed on a national securities exchange
registered under Section 6 of the Exchange Act, or quoted in a U.S. automated inter-dealer quotation system. 
 (qq) None of the Issuers or the Material Subsidiaries has taken, nor will any of them take, directly or indirectly, any action designed to, or that would constitute or that might be reasonably expected to
result in, stabilization or manipulation of the price of the Notes. 
 (rr) None of the Issuers, the Material
Subsidiaries or, to the knowledge of the Issuers, any of their respective Affiliates or any person acting on its or their behalf (other than the Initial Purchasers) has engaged in any directed selling efforts (as that term is defined in
Regulation S under the Act (“Regulation S”)) with respect to the Notes; the Issuers, the Material Subsidiaries and, to the knowledge of the Issuers, their respective Affiliates and any person acting on its or their behalf
(other than the Initial Purchasers) have complied with the offering restrictions requirement of Regulation S. 
 (ss) There are no stamp or other issuance or transfer taxes or duties or other similar fees or charges required to be paid in the United States in connection with the execution and delivery of this
Agreement or the issuance or sale by the Issuers of the Notes. 
 (tt) None of the Issuers, the Material
Subsidiaries or, to the knowledge of the Issuers, any director, officer, agent, employee or Affiliate of the Issuers or any of the Material Subsidiaries is aware of or has taken any action, directly or indirectly, that would result in a violation by
such persons of the Foreign Corrupt Practices Act of 1977, as amended, and the rules and regulations thereunder (the “FCPA”), including, without limitation, making use of the mails or any means or instrumentality of interstate
commerce corruptly in furtherance of an offer, payment, promise to pay or authorization of the payment of any money, or other property, gift, promise to give, or authorization of the giving of anything of value to any “foreign official”
(as such term is defined in the 

  
 14 

 
FCPA) or any foreign political party or official thereof or any candidate for foreign political office, in contravention of the FCPA; and the Issuers, the Material Subsidiaries and, to the
knowledge of the Issuers, their affiliates have conducted their businesses in compliance with the FCPA and have instituted and maintain policies and procedures designed to ensure, and which are reasonably expected to continue to ensure, continued
compliance therewith. 
 (uu) The operations of the Issuers and the Material Subsidiaries are and have been
conducted at all times in compliance with applicable financial recordkeeping and reporting requirements of the Currency and Foreign Transactions Reporting Act of 1970, as amended, the money laundering statutes of all jurisdictions, the U.S. PATRIOT
Act, the rules and regulations thereunder, and any related or similar rules, regulations or guidelines, issued, administered or enforced by any governmental agency (collectively, the “Money Laundering Laws”) and no action, suit or
proceeding by or before any court or governmental agency, authority or body or any arbitrator involving the Issuers or any of the Material Subsidiaries with respect to the Money Laundering Laws is pending or, to the best knowledge of the Issuers,
threatened. 
 (vv) No Material Subsidiary is currently prohibited, directly or indirectly, from paying any
distributions to the Partnership, from making any other distribution on such Subsidiary’s equity interests, from repaying to the Partnership any loans or advances to such Subsidiary from the Partnership or from transferring any of such
Subsidiary’s property or assets to the Partnership or any other Subsidiary of the Partnership, except (i) as described in or contemplated by the Pricing Disclosure Package and the Final Memorandum, (ii) arising under the Partnership
Credit Agreement, (iii) such prohibitions mandated by the laws of each such Subsidiary’s state of formation and the terms of any such Subsidiary’s governing instruments and (iv) where such prohibition would not reasonably be
expected to have a Material Adverse Effect. 
 (ww) None of the Issuers, the Material Subsidiaries or, to the
knowledge of the Issuers, any director, officer, agent, employee or Affiliate of the Issuers or any of the Material Subsidiaries is currently subject to any U.S. sanctions administered by the Office of Foreign Assets Control of the U.S. Department
of the Treasury (“OFAC”). 
 Any certificate signed by any officer of the Issuers or the Guarantors and
delivered to any Initial Purchaser or to counsel for the Initial Purchasers in connection with the offering of the Notes shall be deemed a representation and warranty by each of the Issuers or each Guarantor to the Initial Purchasers as to the
matters covered thereby. 
 Section 3. Purchase, Sale and Delivery of the Notes. On the basis of the
representations, warranties, agreements and covenants herein contained and subject to the terms and conditions herein set forth, the Issuers agree to issue and sell to the Initial Purchasers, and the Initial Purchasers, acting severally and not
jointly, agree to purchase the Notes in the respective amounts set forth on Schedule 1 hereto from the Issuers at 98.5% of their principal amount. One or more certificates in global form for the Notes that the Initial Purchasers have agreed to
purchase hereunder, each in such principal amount as the Initial Purchasers request upon notice to the Issuers at least 36 hours prior to the Closing Date, shall be delivered by or on 

  
 15 

 
behalf of the Issuers to the Initial Purchasers, against payment by or on behalf of the Initial Purchasers of the purchase price therefor by wire transfer (same day funds), to such account or
accounts as the Partnership shall specify prior to the Closing Date, or by such means as the parties hereto shall agree prior to the Closing Date. Such delivery of and payment for the Notes shall be made at the offices of Vinson & Elkins
L.L.P., First City Tower, 1001 Fannin Street, Suite 2500, Houston, Texas at 9:00 A.M. Houston time, on October 25, 2012, or at such other place, time or date as the Initial Purchasers, on the one hand, and the Issuers, on the other hand, may
agree upon, such time and date of delivery against payment being herein referred to as the “Closing Date.” 

Section 4. Offering by the Initial Purchasers. The Initial Purchasers propose to make an offering of the Notes at the price
and upon the terms set forth in the Pricing Disclosure Package and the Final Memorandum as soon as practicable after this Agreement is entered into and as in the judgment of the Initial Purchasers is advisable. 

Section 5. Covenants of the Issuers and the Guarantors. Each Issuer and each Guarantor covenants and agrees with each of the
Initial Purchasers as follows: 
 (a) Until the later of (i) the completion of the distribution of the
Notes by the Initial Purchasers and (ii) the Closing Date, the Issuers will not amend or supplement the Pricing Disclosure Package or the Final Memorandum or otherwise distribute or refer to any Issuer Written Communication (other than the
Recorded Road Show) unless the Initial Purchasers shall previously have been advised and furnished a copy for a reasonable period of time prior to the proposed amendment or supplement. The Issuers will promptly, upon the reasonable request of the
Initial Purchasers or counsel for the Initial Purchasers, make any amendments or supplements to the Pricing Disclosure Package and the Final Memorandum that may be necessary or advisable in connection with the resale of the Notes by the Initial
Purchasers. 
 (b) The Issuers will cooperate with the Initial Purchasers in arranging for the qualification of
the Notes for offering and sale under the securities or “Blue Sky” laws of such jurisdictions as the Initial Purchasers may designate and will continue such qualifications in effect for as long as may be necessary to complete the resale of
the Notes; provided, however, that in connection therewith, the Issuers shall not be required to qualify as a foreign limited partnership or corporation or to execute a general consent to service of process in any jurisdiction or
subject itself to taxation in any such jurisdiction where it is not then so subject. 
 (c) (1) If, at any time
prior to the completion of the sale by the Initial Purchasers of the Notes, any event occurs or information becomes known as a result of which the Final Memorandum as then amended or supplemented would include any untrue statement of a material
fact, or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading, or if for any other reason it is necessary at any time to amend or supplement the Final
Memorandum to comply with applicable law, the Issuers will promptly notify the Initial Purchasers thereof and will prepare, at the expense of the Partnership, an amendment or supplement to the Final Memorandum that corrects such statement or

  
 16 

 
omission or effects such compliance and (2) if at any time prior to the Closing Date (i) any event shall occur or condition shall exist as a result of which any of the Pricing
Disclosure Package as then amended or supplemented would include any untrue statement of a material fact or omit to state any material fact necessary in order to make the statements therein, in the light of the circumstances under which they were
made, not misleading or any Issuer Written Communication would conflict with the Pricing Disclosure Package as then amended or supplemented, or (ii) it is necessary to amend or supplement any of the Pricing Disclosure Package so that any of the
Pricing Disclosure Package or any Issuer Written Communication will comply with law, the Issuers will immediately notify the Initial Purchasers thereof and forthwith prepare and, subject to paragraph (a) above, furnish to the Initial Purchasers
such amendments or supplements to any of the Pricing Disclosure Package or any Issuer Written Communication (it being understood that any such amendments or supplements may take the form of an amended or supplemented Final Memorandum) as may be
necessary so that the statements in any of the Pricing Disclosure Package as so amended or supplemented will not, in light of the circumstances under which they were made, be misleading or so that any Issuer Written Communication will not conflict
with the Pricing Disclosure Package or so that the Pricing Disclosure Package or any Issuer Written Communication as so amended or supplemented will comply with law. 

(d) The Issuers will, without charge, provide to the Initial Purchasers and to counsel for the Initial Purchasers as many
copies of the Pricing Disclosure Package, any Issuer Written Communication and the Final Memorandum or any amendment or supplement thereto as the Initial Purchasers may reasonably request. 

(e) The Partnership will apply the net proceeds from the sale of the Notes as set forth under “Use of Proceeds”
in the Pricing Disclosure Package and the Final Memorandum. 
 (f) Prior to the Closing Date, the Issuers will
furnish to the Initial Purchasers, as soon as they have been prepared, a copy of any unaudited interim financial statements of the Issuers for any period subsequent to the period covered by the most recent financial statements appearing in the
Pricing Disclosure Package and the Final Memorandum; provided, however, that the Issuers do not need to furnish such financial statements to the Initial Purchasers if they are available on the Commission’s website. 

(g) None of the Issuers or any of its affiliates that it controls will, and the Issuers will use their commercially
reasonable efforts to cause their other affiliates (other than Warburg Pincus LLC and its affiliates (other than Targa Resources Corp. and its subsidiaries)) not to, sell, offer for sale or solicit offers to buy or otherwise negotiate in respect of
any “security” (as defined in the Act) that could be integrated with the sale of the Notes in a manner which would require the registration under the Act of the Notes. 

(h) The Issuers will not, and will not permit any of their subsidiaries or their respective affiliates that they control
or persons acting on their behalf to, and the Issuers will use their commercially reasonable efforts to cause their other affiliates (other than Warburg Pincus LLC and its affiliates (other than Targa Resources Corp. and its

  
 17 

 
subsidiaries)) not to, engage in any form of general solicitation or general advertising (as those terms are used in Regulation D under the Act) in connection with the offering of the Notes or in
any manner involving a public offering within the meaning of Section 4(2) of the Act. 
 (i) For so long as
any of the Notes remain outstanding, the Issuers will make available at their expense, upon request, to any holder of such Notes and any prospective purchasers thereof the information specified in Rule 144A(d)(4) under the Act, unless either of
the Issuers is then subject to Section 13 or 15(d) of the Exchange Act. 
 (j) The Issuers will use their
commercially reasonable best efforts to permit the Notes to be eligible for clearance and settlement through The Depository Trust Company. 
 (k) During the period beginning on the date hereof and continuing to the date that is 45 days after the Closing Date, without the prior written consent of Merrill Lynch, Pierce, Fenner & Smith
Incorporated, the Issuers will not offer, sell, contract to sell or otherwise dispose of, except as provided hereunder, any securities of the Issuers (or guaranteed by the Issuers) that are substantially similar to the Notes (except for the Notes
which would be issuable pursuant to the exchange offer described in the Preliminary Memorandum and the Final Memorandum). 
 (l) In connection with Notes offered and sold in an offshore transaction (as defined in Regulation S) the Issuers will not register any transfer of such Notes not made in accordance with the provisions of
Regulation S and will not, except in accordance with the provisions of Regulation S, if applicable, issue any such Notes in the form of definitive securities. 
 (m) None of the Issuers or any of their affiliates that they control will engage in any directed selling efforts (as that term is defined in Regulation S) with respect to the Notes. 

(n) For a period of one year (calculated in accordance with paragraph (d) of Rule 144 under the Act) following
the date any Notes are acquired by either of the Issuers or any of their affiliates, if the Notes are Registrable Securities (as defined in the Registration Rights Agreement), neither of the Issuers nor any of their respective affiliates that they
control will sell any such Notes. 
 (o) For so long as any Notes are outstanding, the Issuers and the
Guarantors will conduct their operations in a manner that will not subject the Issuers or any Guarantor to registration as an investment company under the Investment Company Act. 

  
 18 

 (p) Each Note will bear a legend substantially to the following effect
until such legend shall no longer be necessary or advisable because the Notes are no longer subject to the restrictions on transfer described therein: 
 “THIS SECURITY HAS NOT BEEN REGISTERED UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE “SECURITIES ACT”), AND, ACCORDINGLY, MAY NOT BE OFFERED OR SOLD WITHIN THE UNITED STATES OR TO,
OR FOR THE ACCOUNT OR BENEFIT OF, U.S. PERSONS EXCEPT AS SET FORTH BELOW. BY ITS ACQUISITION HEREOF, THE HOLDER (1) REPRESENTS THAT (A) IT IS A “QUALIFIED INSTITUTIONAL BUYER” (AS DEFINED IN RULE 144A UNDER THE SECURITIES ACT),
(B) IT IS NOT A U.S. PERSON AND IS ACQUIRING THIS SECURITY IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT OR (C) IT IS AN ACCREDITED INVESTOR (AS DEFINED IN RULE 501(a)(1), (2), (3), OR (7) UNDER THE
SECURITIES ACT (AN “ACCREDITED INVESTOR”), (2) AGREES THAT IT WILL NOT WITHIN [IN THE CASE OF NOTES SOLD IN RELIANCE ON RULE 144A: ONE YEAR] [IN THE CASE OF NOTES SOLD IN RELIANCE ON REGULATION S: 40 DAYS] AFTER THE LATER OF THE
ORIGINAL ISSUE DATE HEREOF AND THE LAST DATE ON WHICH THE ISSUER OR ANY AFFILIATE OF THE ISSUER WAS THE OWNER OF THIS SECURITY (OR ANY PREDECESSOR OF SUCH SECURITY (THE “RESALE RESTRICTION TERMINATION DATE”) RESELL OR OTHERWISE TRANSFER
THIS SECURITY EXCEPT (A) TO AN ISSUER OR ANY SUBSIDIARY THEREOF, (B) INSIDE THE UNITED STATES TO A QUALIFIED INSTITUTIONAL BUYER IN COMPLIANCE WITH RULE 144A UNDER THE SECURITIES ACT, (C) INSIDE THE UNITED STATES TO AN ACCREDITED
INVESTOR THAT, PRIOR TO SUCH TRANSFER, FURNISHES (OR HAS FURNISHED ON ITS BEHALF BY A U.S. BROKER-DEALER) TO THE TRUSTEE A SIGNED LETTER CONTAINING CERTAIN REPRESENTATIONS AND AGREEMENTS RELATING TO THE RESTRICTIONS ON TRANSFER OF THIS SECURITY (THE
FORM OF WHICH LETTER CAN BE OBTAINED FROM THE TRUSTEE FOR THIS SECURITY), (D) OUTSIDE THE UNITED STATES IN AN OFFSHORE TRANSACTION IN COMPLIANCE WITH RULE 904 UNDER THE SECURITIES ACT (IF AVAILABLE), (E) PURSUANT TO THE EXEMPTION FROM
REGISTRATION PROVIDED BY RULE 144 UNDER THE SECURITIES ACT (IF AVAILABLE), (F) IN ACCORDANCE WITH ANOTHER EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT (AND BASED UPON AN OPINION OF COUNSEL IF THE COMPANY SO REQUESTS), OR
(G) PURSUANT TO AN EFFECTIVE REGISTRATION STATEMENT UNDER THE SECURITIES ACT AND (3) AGREES THAT IT WILL GIVE TO EACH PERSON TO WHOM THIS SECURITY IS TRANSFERRED A NOTICE SUBSTANTIALLY TO THE EFFECT OF THIS LEGEND. IN CONNECTION WITH ANY
TRANSFER OF THIS SECURITY PRIOR TO THE RESALE RESTRICTION TERMINATION DATE, IF THE PROPOSED TRANSFEREE IS AN ACCREDITED INVESTOR, THE HOLDER MUST, PRIOR TO SUCH TRANSFER, FURNISH TO THE TRUSTEE AND THE ISSUERS SUCH CERTIFICATIONS, LEGAL OPINIONS OR
OTHER INFORMATION AS ANY OF THEM MAY REASONABLY REQUIRE TO CONFIRM THAT SUCH TRANSFER IS BEING MADE PURSUANT TO AN EXEMPTION FROM, OR IN A TRANSACTION, NOT SUBJECT TO, THE REGISTRATION REQUIREMENTS OF THE SECURITIES ACT, AS USED HEREIN. THE TERMS
“OFFSHORE TRANSACTION,” “UNITED 

  
 19 

 
STATES” AND “U.S. PERSON” HAVE THE MEANING GIVEN TO THEM BY REGULATION S UNDER THE SECURITIES ACT. THIS LEGEND WILL BE REMOVED UPON THE REQUEST OF THE HOLDER OR AN ISSUER ON OR
AFTER THE RESALE RESTRICTION TERMINATION DATE.” 
 Section 6. Expenses. The Partnership agrees to pay all
costs and expenses incident to the performance of the Issuers’ and Guarantors’ obligations under this Agreement, whether or not the transactions contemplated herein are consummated or this Agreement is terminated pursuant to
Section 11 hereof, including all costs and expenses incident to (i) the printing, word processing or other production of documents with respect to the transactions contemplated hereby, including any costs of printing the Pricing Disclosure
Package and the Final Memorandum and any amendment or supplement thereto, and any “Blue Sky” memoranda, (ii) all arrangements relating to the delivery to the Initial Purchasers of copies of the foregoing documents, (iii) the fees
and disbursements of the counsel, the accountants and any other experts or advisors retained by the Issuers, (iv) preparation (including printing), issuance and delivery to the Initial Purchasers of the Notes, (v) the qualification of the
Notes under state securities and “Blue Sky” laws, including filing fees and fees and disbursements of counsel for the Initial Purchasers relating thereto, (vi) one half of the expenses in connection with the “roadshow” and
any other meetings with prospective investors in the Notes, (vii) fees and expenses of the Trustee including fees and expenses of counsel, and (viii) any fees charged by investment rating agencies for the rating of the Notes. If the sale
of the Notes provided for herein is not consummated because any condition to the obligations of the Initial Purchasers set forth in Section 7 hereof is not satisfied, because this Agreement is terminated pursuant to Section 11(a)(i) or
because of any failure, refusal or inability on the part of the Issuers to perform all obligations and satisfy all conditions on their part to be performed or satisfied hereunder (other than solely by reason of a default by the Initial Purchasers of
their obligations hereunder after all conditions hereunder have been satisfied in accordance herewith), the Issuers agree to promptly reimburse the Initial Purchasers upon demand for all out-of-pocket expenses (including reasonable fees,
disbursements and charges of Baker Botts L.L.P., counsel for the Initial Purchasers) that shall have been incurred by the Initial Purchasers in connection with the proposed purchase and sale of the Notes. 

Section 7. Conditions of the Initial Purchasers’ Obligations. The obligation of the Initial Purchasers to purchase and
pay for the Notes shall, in their sole discretion, be subject to the satisfaction or waiver of the following conditions on or prior to the Closing Date: 
 (a) On the Closing Date, the Initial Purchasers shall have received the opinion, dated as of the Closing Date and addressed to the Initial Purchasers, of Vinson & Elkins L.L.P., counsel for the
Issuers, in form and substance satisfactory to counsel for the Initial Purchasers, to the effect that: 
 (i)
Each of the Issuers and the Delaware Guarantors has been duly incorporated, formed or organized, as the case may be, and is validly existing as a limited partnership, limited liability company or corporation, as applicable, and is in good standing
under the laws of the State of Delaware and has all requisite limited partnership, limited liability company or corporate power and authority necessary to own or lease its properties and to conduct its business, in each case as described in the
Pricing Disclosure Package and the Final Memorandum in all material respects. 

  
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 (ii) The Partnership has the authorized, issued and outstanding
capitalization set forth in the Pricing Disclosure Package and the Final Memorandum as of the dates specified therein; all of the issued and outstanding equity interests (other than general partner interests) of each of the Issuers and the Delaware
Guarantors have been duly authorized and validly issued (in accordance with the Organizational Documents of each such entity), are fully paid (in the case of an interest in a limited partnership or limited liability company, to the extent required
under the Organizational Documents of such entity) and nonassessable (except as such nonassessability may be affected by Sections 17-607 and 17-804 of the Delaware LP Act or Sections 18-607 and 18-804 of the Delaware LLC Act, as applicable) and, to
our knowledge, were not issued in violation of any preemptive or similar right; all of the issued and outstanding equity interests of Finance Co and each Delaware Guarantor are owned, directly or indirectly, by the Partnership, free and clear of all
Liens (other than (i) those created by or arising under the Delaware General Corporation Law, the Delaware LLC Act or the Delaware LP Act, as the case may be; (ii) restrictions on transferability and other Liens described in the Pricing
Disclosure Package, the Final Memorandum or the Organizational Documents; (iii) those arising under the Partnership Credit Agreement; and (iv) those imposed by the Act and the securities or “Blue Sky” laws of certain
jurisdictions) (A) in respect of which a financing statement under the Uniform Commercial Code of the State of Delaware naming the Partnership as debtor or, in the case of equity interests of a Delaware Guarantor owned directly by one or more
other Delaware Guarantor, naming any such other Delaware Guarantor as debtor(s), is on file as of a recent date in the office of the Secretary of State of the State of Delaware or (B) otherwise known to such counsel, without independent
investigation. 
 (iii) The Issuers and each Delaware Guarantor have all requisite corporate, limited
partnership or limited liability company power and authority to execute, deliver and perform each of their obligations under the Indenture, the Notes, the Exchange Notes and the Private Exchange Notes; the Indenture meets the requirements for
qualification under the TIA; the Indenture has been duly and validly authorized by the Issuers and each Delaware Guarantor and, when duly executed and delivered by the Issuers and each Delaware Guarantor (assuming the due authorization, execution
and delivery thereof by the Trustee and the Washington Guarantor), will constitute the valid and legally binding agreement of the Issuers and each Guarantor, enforceable against the Issuers and each Guarantor in accordance with its terms, except
that the enforcement thereof may be subject to the Enforceability Exceptions. 
 (iv) The Notes have each been
duly and validly authorized by the Issuers and, when duly executed and delivered by the Issuers and paid for by the Initial Purchasers in accordance with the terms of this Agreement (assuming the due authorization, execution and delivery of the
Indenture by the Trustee and due 

  
 21 

 
authentication and delivery of the Notes by the Trustee in accordance with the Indenture), will constitute the valid and legally binding obligations of the Issuers, entitled to the benefits of
the Indenture, and enforceable against the Issuers in accordance with their terms, except that the enforcement thereof may be subject to the Enforceability Exceptions. 

(v) The Guarantees have been duly and validly authorized by the Delaware Guarantors and when the Notes have been paid for
by the Initial Purchasers in accordance with the terms of this Agreement (assuming the due authorization, execution and delivery of the Indenture by the Trustee and the Washington Guarantor and the due authentication of the Notes by the Trustee in
accordance with the Indenture), will constitute the valid and legally binding obligations of the Guarantors, entitled to the benefits of the Indenture, and enforceable against the Guarantors in accordance with their terms, except that the
enforcement thereof may be subject to the Enforceability Exceptions. 
 (vi) The Exchange Notes and the Private
Exchange Notes have been duly and validly authorized by the Issuers, and if and when the Exchange Notes and the Private Exchange Notes are duly executed and delivered by the Issuers in accordance with the terms of the Registration Rights Agreement
and the Indenture (assuming the due authorization, execution and delivery of the Indenture by the Trustee and due authentication and delivery of the Exchange Notes and the Private Exchange Notes by the Trustee in accordance with the Indenture), will
constitute the valid and legally binding obligations of the Issuers, entitled to the benefits of the Indenture, and enforceable against the Issuers in accordance with their terms, except that the enforcement thereof may be subject to the
Enforceability Exceptions. 
 (vii) The Issuers and the Delaware Guarantors have all requisite partnership,
limited liability company or corporate power and authority to execute, deliver and perform their obligations under the Registration Rights Agreement; the Registration Rights Agreement has been duly and validly authorized by the Issuers and the
Delaware Guarantors and, when duly executed and delivered by the Issuers and the Delaware Guarantors (assuming due authorization, execution and delivery thereof by the Initial Purchasers and the Washington Guarantor), will constitute the valid and
legally binding agreement of the Issuers and the Guarantors, enforceable against the Issuers and the Guarantors in accordance with its terms, except that (A) the enforcement thereof may be subject to the Enforceability Exceptions and
(B) any rights to indemnity or contribution thereunder may be limited by federal and state securities laws and public policy considerations. 
 (viii) The Issuers and the Delaware Guarantors have all requisite corporate, partnership or limited liability company power and authority to execute, deliver and perform their obligations under this
Agreement and to consummate the transactions contemplated hereby; this Agreement and the consummation by the Issuers and the Delaware Guarantors of the transactions 

  
 22 

 
contemplated hereby have been duly and validly authorized by the Issuers and the Delaware Guarantors. This Agreement has been duly executed and delivered by the Issuers and the Delaware
Guarantors. 
 (ix) (a) The descriptions of the Indenture, the Notes and the Registration Rights Agreement
contained in the Pricing Disclosure Package and the Final Memorandum are accurate in all material respects, and (b) the statements under the caption “Certain United States Federal Income and Estate Tax Considerations” in the Pricing
Disclosure Package and the Final Memorandum insofar as they purport to constitute a summary of United States federal tax law and regulations or legal conclusions with respect thereto, constitute accurate summaries of the matters described therein in
all material respects, subject to the assumptions and qualifications set forth therein. 
 (x) The execution,
delivery and performance of this Agreement, the Indenture, the Registration Rights Agreement and the consummation of the transactions contemplated hereby and thereby (including, without limitation, the issuance and sale of the Notes to the Initial
Purchasers) will not constitute or result in a breach or a default under (or an event that with notice or passage of time or both would constitute a default under) any of (i) the terms or provisions of any Contract listed on Annex B
hereto, (ii) the Organizational Documents of any of the Issuers or the Guarantors, or (iii) any statute, judgment, decree, order, rule or regulation (excluding any securities laws, rules or regulations) known to such counsel to be
applicable to the Issuers or any of the Guarantors or any of their respective properties or assets, except, with respect to clauses (i) and (iii) only, for any such conflict, breach or violation that could not reasonably be expected to,
individually or in the aggregate, have a Material Adverse Effect. 
 (xi) No consent, approval, authorization or
order of any governmental authority is required for the issuance and sale by the Issuers of the Notes to the Initial Purchasers or the consummation by the Issuers of the other transactions contemplated hereby, except such as may be required under
securities laws, as to which such counsel need express no opinion in this paragraph, and those which have previously been obtained. 
 (xii) None of the Issuers or the Guarantors is, or immediately after the sale of the Notes to be sold hereunder and the application of the proceeds from such sale (as described in the Pricing Disclosure
Package and the Final Memorandum under the caption “Use of Proceeds”) will be, an “investment company” as such term is defined in the Investment Company Act of 1940, as amended. 

(xiii) No registration under the Act of the Notes is required in connection with the sale of the Notes to the Initial
Purchasers or in connection with the initial resale of the Notes by the Initial Purchasers, in each case, as contemplated by this Agreement and the Pricing Disclosure Package and the Final Memorandum, and prior to the commencement of the Exchange
Offer (as defined in the Registration 

  
 23 

 
Rights Agreement) or the effectiveness of the Shelf Registration Statement (as defined in the Registration Rights Agreement), the Indenture is not required to be qualified under the
TIA.
 At the time the foregoing opinion is delivered, Vinson & Elkins L.L.P. shall additionally state that it has
participated in conferences with officers and other representatives of the Issuers, representatives of the independent registered public accountants for the Issuers, representatives of the Initial Purchasers and counsel for the Initial Purchasers,
at which conferences the contents of the Pricing Disclosure Package and the Final Memorandum and related matters were discussed, and, although it has not independently verified, and is not passing on and assumes no responsibility for the accuracy,
completeness or fairness of the statements contained in the Pricing Disclosure Package and the Final Memorandum (except to the extent specified in subsection 7(a)(ix)), no facts have come to its attention which lead it to believe that the
Pricing Disclosure Package, as of the Time of Execution or at the Closing Date, or that the Final Memorandum, as of its date or at the Closing Date, contained an untrue statement of a material fact or omitted to state a material fact necessary to
make the statements contained therein, in light of the circumstances under which they were made, not misleading (it being understood that such firm need make no comment with respect to the financial statements and related notes thereto and the other
financial and accounting data derived from the Issuers’ books and records included in the Pricing Disclosure Package or the Final Memorandum). 
 The opinion and advice of Vinson & Elkins L.L.P. described in this Section 7 shall be rendered to the Initial Purchasers at the request of the Partnership and shall so state therein.

 (b) On the Closing Date, the Initial Purchasers shall have received the opinion, in form and substance
satisfactory to the Initial Purchasers, dated as of the Closing Date and addressed to the Initial Purchasers, of Baker Botts L.L.P., counsel for the Initial Purchasers, with respect to certain legal matters relating to this Agreement and such other
related matters as the Initial Purchasers may reasonably require. In rendering such opinion, Baker Botts L.L.P. shall have received and may rely upon such certificates and other documents and information as it may reasonably request to pass upon
such matters. 
 (c) On the date hereof, the Initial Purchasers shall have received from the Independent
Accountants a comfort letter dated the date hereof, in form and substance satisfactory to counsel for the Initial Purchasers with respect to the audited and any unaudited financial information in the Pricing Disclosure Package. On the Closing Date,
the Initial Purchasers shall have received from the Independent Accountants a comfort letter dated the Closing Date, in form and substance satisfactory to counsel for the Initial Purchasers, which shall refer to the comfort letter dated the date
hereof and reaffirm or update as of a more recent date, the information stated in the comfort letter dated the date hereof and similarly address the audited and any unaudited financial information in the Final Memorandum. 

(d) The representations and warranties of the Issuers and the Guarantors contained in this Agreement shall be true and
correct on and as of the Time of Execution 

  
 24 

 
and on and as of the Closing Date as if made on and as of the Closing Date; the statements of the Issuers’ officers made pursuant to any certificate delivered in accordance with the
provisions hereof shall be true and correct on and as of the date made and on and as of the Closing Date; the Issuers shall have performed all covenants and agreements and satisfied all conditions on their part to be performed or satisfied hereunder
at or prior to the Closing Date; and, except as described in the Pricing Disclosure Package and the Final Memorandum (exclusive of any amendment or supplement thereto after the date hereof), subsequent to the date of the most recent financial
statements in such Pricing Disclosure Package and the Final Memorandum, there shall have been no event or development, and no information shall have become known, that, individually or in the aggregate, has or would be reasonably likely to have a
Material Adverse Effect. 
 (e) The sale of the Notes hereunder shall not be enjoined (temporarily or
permanently) on the Closing Date. 
 (f) Subsequent to the date of the most recent financial statements in the
Pricing Disclosure Package and the Final Memorandum (exclusive of any amendment or supplement thereto after the date hereof), none of the Issuers nor any of the Material Subsidiaries shall have sustained any loss or interference with respect to its
business or properties from fire, flood, hurricane, accident or other calamity, whether or not covered by insurance, or from any strike, labor dispute, slow down or work stoppage or from any legal or governmental proceeding, order or decree, which
loss or interference, individually or in the aggregate, has or would be reasonably likely to have a Material Adverse Effect. 
 (g) The Initial Purchasers shall have received: 
 (x) a
certificate, dated the Closing Date, signed by the Chief Executive Officer, President – Finance & Administration, President or any Executive Vice President and the Chief Financial Officer of the General Partner, to the effect that:

 (i) the representations and warranties of the Partnership and the Guarantors contained in this Agreement are
true and correct on and as of the Time of Execution and on and as of the Closing Date, and the Partnership and the Guarantors have performed all covenants and agreements and satisfied all conditions on their part to be performed or satisfied
hereunder at or prior to the Closing Date; 
 (ii) at the Closing Date, since the date hereof or since the date
of the most recent financial statements in the Pricing Disclosure Package and the Final Memorandum (exclusive of any amendment or supplement thereto after the date hereof), no event or development has occurred, and no information has become known,
that, individually or in the aggregate, has or would be reasonably likely to have a Material Adverse Effect; and 
 (iii) the sale of the Notes hereunder has not been enjoined (temporarily or permanently); and 

  
 25 

 (y) a certificate, dated the Closing Date, signed by the Chief Executive
Officer, President – Finance & Administration, President or any Executive Vice President and the Chief Financial Officer of Finance Co, to the effect that: 

(i) the representations and warranties of Finance Co contained in this Agreement are true and correct on and as of the
Time of Execution and on and as of the Closing Date, and Finance Co has performed all covenants and agreements and satisfied all conditions on its part to be performed or satisfied hereunder at or prior to the Closing Date; 

(ii) at the Closing Date, since the date hereof or since the date of the most recent financial statements in the Pricing
Disclosure Package and the Final Memorandum (exclusive of any amendment or supplement thereto after the date hereof), no event or development has occurred, and no information has become known, that, individually or in the aggregate, has or would be
reasonably likely to have a Material Adverse Effect; and 
 (iii) the sale of the Notes hereunder has not been
enjoined (temporarily or permanently). 
 (h) On the Closing Date, the Initial Purchasers shall have received
the Registration Rights Agreement executed by the Issuers and the Guarantors and such agreement shall be in full force and effect. 
 On or before the Closing Date, the Initial Purchasers and counsel for the Initial Purchasers shall have received such further documents, opinions, certificates, letters and schedules or instruments
relating to the business, corporate, legal and financial affairs of the Issuers and the Guarantors as they shall have heretofore reasonably requested from the Issuers. 
 All such documents, opinions, certificates, letters, schedules or instruments delivered pursuant to this Agreement will comply with the provisions hereof only if they are reasonably satisfactory in all
material respects to the Initial Purchasers and counsel for the Initial Purchasers. The Issuers shall furnish to the Initial Purchasers such conformed copies of such documents, opinions, certificates, letters, schedules and instruments in such
quantities as the Initial Purchasers shall reasonably request. 
 Section 8. Offering of Notes; Restrictions on
Transfer. 
 (a) Each of the Initial Purchasers agrees with the Issuers (as to itself only) that (i) it has not and
will not solicit offers for, or offer or sell, the Notes by any form of general solicitation or general advertising (as those terms are used in Regulation D under the Act) or in any manner involving a public offering within the meaning of
Section 4(2) of the Act; and (ii) it has and will solicit offers for the Notes only from, and will offer the Notes only to (A) in the case of offers inside the United States, persons whom the Initial Purchasers reasonably believe to
be QIBs, in transactions under Rule 144A and (B) in the case of offers outside the United States, to 

  
 26 

 
persons other than U.S. persons (“non-U.S. purchasers,” which term shall include dealers or other professional fiduciaries in the United States acting on a discretionary basis
for non-U.S. beneficial owners (other than an estate or trust)); provided, however, that, in the case of this clause (B), in purchasing such Notes such persons are deemed to have represented and agreed as provided under the caption
“Transfer Restrictions” contained in the Pricing Disclosure Package and the Final Memorandum. 
 (b) Each of the
Initial Purchasers represents and warrants (as to itself only) that (1) it is a QIB and (2) with respect to offers and sales outside the United States that (i) it has and will comply with all applicable laws and regulations in each
jurisdiction in which it acquires, offers, sells or delivers Notes or has in its possession or distributes any Pricing Disclosure Package or Final Memorandum or any such other material, in all cases at its own expense; (ii) the Notes have not
been and will not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons except in accordance with Regulation S under the Act or pursuant to an exemption from the registration requirements of the Act; and
(iii) it has offered the Notes and will offer and sell the Notes (A) as part of its distribution at any time and (B) otherwise until 40 days after the later of the commencement of the offering and the Closing Date, only in accordance
with Rule 903 of Regulation S and, accordingly, neither it nor any persons acting on its behalf have engaged or will engage in any directed selling efforts (within the meaning of Regulation S) with respect to the Notes, and any such persons
have complied and will comply with the offering restrictions requirement of Regulation S. 
 (c) Each Initial Purchaser,
severally and not jointly, represents and warrants and agrees with the Issuers that: 
 (i) in relation to each
Member State of the European Economic Area which has implemented the Prospectus Directive (as defined below) (each, a “Relevant Member State”), with effect from and including the date on which the Prospectus Directive is implemented
in that Relevant Member State (the “Relevant Implementation Date”), it has not made and will not make an offer of Notes to the public in that Relevant Member State, except that it may, with effect from and including the Relevant
Implementation Date, make an offer of Notes to the public in that Relevant Member State at any time: (A) to any legal entity which is a qualified investor as defined in the Prospectus Directive; (B) to fewer than 100 or, if the Relevant
Member State has implemented the relevant provision of the 2010 PD Amending Directive (as defined below), 150, natural or legal persons (other than qualified investors as defined in the Prospectus Directive), as permitted under the Prospectus
Directive, subject to obtaining the prior consent of the Representatives for any such offer; or (C) in any other circumstances falling within Article 3(2) of the Prospectus Directive; 

For the purposes of this provision, the expression an “offer of notes to the public” in relation to any Notes in any
Relevant Member State means the communication in any form and by any means of sufficient information on the terms of the offer and the Notes to be offered so as to enable an investor to decide to purchase or subscribe for the Notes, as the same may
be varied in that Member State by any measure implementing the Prospectus Directive in that Member State, the 

  
 27 

 
expression “Prospectus Directive” means Directive 2003/71/EC (and amendments thereto, including the 2010 PD Amending Directive, to the extent implemented in the Relevant Member
State), and includes any relevant implementing measure in the Relevant Member State and the expression “2010 PD Amending Directive” means Directive 2010/73/EU. 

(ii) it has only communicated or caused to be communicated and will only communicate or cause to be communicated an
invitation or inducement to engage in investment activity (within the meaning of Section 21 of the Financial Services and Markets Act of 2000 (the “FSMA”)) received by it in connection with the issue or sale of the Notes in
circumstances in which Section 21(1) of the FSMA does not apply to the Issuers; and 
 (iii) it has
complied and will comply with all applicable provisions of the FSMA with respect to anything done by it in relation to the Notes in, from or otherwise involving the United Kingdom. 

Terms used in this Section 8 and not defined in this Agreement have the meanings given to them in Regulation S. 

Section 9. Indemnification and Contribution. 
 (a) The Issuers and the Guarantors, jointly and severally, agree to indemnify and hold harmless the Initial Purchasers, their directors, officers, affiliates and each person, if any, who controls any
Initial Purchaser within the meaning of Section 15 of the Act or Section 20 of the Exchange Act against any losses, claims, damages or liabilities to which any Initial Purchaser, any such director, officer, affiliate or controlling person
may become subject under the Act, the Exchange Act or otherwise, insofar as any such losses, claims, damages or liabilities (or actions in respect thereof) arise out of or are based upon the following: 

(i) any untrue statement or alleged untrue statement of any material fact contained in the Pricing Disclosure Package,
any Issuer Written Communication or Final Memorandum or any amendment or supplement thereto; or 
 (ii) the
omission or alleged omission to state, in the Pricing Disclosure Package, any Issuer Written Communication or the Final Memorandum or any amendment or supplement thereto, a material fact necessary to make the statements therein not misleading;

 and will reimburse, as incurred, the Initial Purchasers, any such director, officer, affiliate and controlling person for any legal or other
expenses reasonably incurred by the Initial Purchasers, their directors, officers, affiliates or controlling persons in connection with investigating, defending against or appearing as a third-party witness in connection with any such loss, claim,
damage, liability or action; provided, however, neither the Issuers nor the Guarantors will be liable in any such case to the extent that any such loss, claim, damage, expense or liability arises out of or is based upon any untrue
statement or alleged untrue statement or omission or alleged omission made in the Pricing Disclosure Package or Final Memorandum or any amendment or supplement thereto in reliance upon and in conformity with written information concerning such

  
 28 

 
Initial Purchaser furnished to the Partnership by the Initial Purchasers through the Representatives specifically for use therein. The indemnity provided for in this Section 9 will be in
addition to any liability that the Partnership may otherwise have to the indemnified parties. Neither the Issuers nor the Guarantors will be liable under this Section 9 for any settlement of any claim or action effected without its prior
written consent, which shall not be unreasonably withheld. 
 (b) Each Initial Purchaser, severally and not jointly, agrees to
indemnify and hold harmless each of the Issuers and Guarantors, and their respective directors, officers and each person, if any, who controls the Issuers or Guarantors within the meaning of Section 15 of the Act or Section 20 of the
Exchange Act against any losses, claims, damages or liabilities to which the Issuers or Guarantors or any such director, officer or controlling person may become subject under the Act, the Exchange Act or otherwise, insofar as such losses, claims,
damages or liabilities (or actions in respect thereof) arise out of or are based upon (i) any untrue statement or alleged untrue statement of any material fact contained in the Pricing Disclosure Package or Final Memorandum or any amendment or
supplement thereto, or (ii) the omission or the alleged omission to state therein a material fact necessary to make the statements therein not misleading, in each case to the extent, but only to the extent, that such untrue statement or alleged
untrue statement or omission or alleged omission was made in reliance upon and in conformity with written information concerning the Initial Purchasers, furnished to the Issuers and Guarantors by the Initial Purchasers through the Representatives
specifically for use therein; and subject to the limitation set forth immediately preceding this clause, will reimburse, as incurred, any legal or other expenses reasonably incurred by the Issuers or Guarantors or any such director, officer or
controlling person in connection with investigating or defending against or appearing as a third party witness in connection with any such loss, claim, damage, liability or action in respect thereof. The indemnity provided for in this Section 9
will be in addition to any liability that the Initial Purchasers may otherwise have to the indemnified parties. The Initial Purchasers shall not be liable under this Section 9 for any settlement of any claim or action effected without their
consent, which shall not be unreasonably withheld. 
 (c) Promptly after receipt by an indemnified party under this
Section 9 of notice of the commencement of any action for which such indemnified party is entitled to indemnification under this Section 9, such indemnified party will, if a claim in respect thereof is to be made against the indemnifying
party under this Section 9, notify the indemnifying party of the commencement thereof in writing; but the omission to so notify the indemnifying party (i) will not relieve it from any liability under paragraph (a) or (b) above
unless and to the extent such failure results in the forfeiture by the indemnifying party of substantial rights and defenses and (ii) will not, in any event, relieve the indemnifying party from any obligations to any indemnified party other
than the indemnification obligation provided in paragraphs (a) and (b) above. In case any such action is brought against any indemnified party, and it notifies the indemnifying party of the commencement thereof, the indemnifying party will
be entitled to participate therein and, to the extent that it may wish, jointly with any other indemnifying party similarly notified, to assume the defense thereof, with counsel reasonably satisfactory to such indemnified party; provided,
however, that if (i) the use of counsel chosen by the indemnifying party to represent the indemnified party would present such counsel with a conflict of interest, (ii) the defendants in any such action include both the indemnified
party and the indemnifying party and the indemnified party shall have been advised by counsel that there may be one or 

  
 29 

 
more legal defenses available to it and/or other indemnified parties that are different from or additional to those available to the indemnifying party, or (iii) the indemnifying party shall
not have employed counsel reasonably satisfactory to the indemnified party to represent the indemnified party within a reasonable time after receipt by the indemnifying party of notice of the institution of such action, then, in each such case, the
indemnifying party shall not have the right to direct the defense of such action on behalf of such indemnified party or parties and such indemnified party or parties shall have the right to select separate counsel to defend such action on behalf of
such indemnified party or parties. After notice from the indemnifying party to such indemnified party of its election so to assume the defense thereof and approval by such indemnified party of counsel appointed to defend such action, the
indemnifying party will not be liable to such indemnified party under this Section 9 for any legal or other expenses, other than reasonable costs of investigation, subsequently incurred by such indemnified party in connection with the defense
thereof, unless (i) the indemnified party shall have employed separate counsel in accordance with the proviso to the immediately preceding sentence (it being understood, however, that in connection with such action the indemnifying party shall
not be liable for the expenses of more than one separate counsel (in addition to local counsel) in any one action or separate but substantially similar actions in the same jurisdiction arising out of the same general allegations or circumstances,
designated by the Initial Purchasers in the case of paragraph (a) of this Section 9 or the Issuers and Guarantors in the case of paragraph (b) of this Section 9, representing the indemnified parties under such paragraph (a)
or paragraph (b), as the case may be, who are parties to such action or actions) or (ii) the indemnifying party has authorized in writing the employment of counsel for the indemnified party at the expense of the indemnifying party. All
fees and expenses reimbursed pursuant to this paragraph (c) shall be reimbursed as they are incurred. After such notice from the indemnifying party to such indemnified party, the indemnifying party will not be liable for the costs and expenses
of any settlement of such action effected by such indemnified party without the prior written consent of the indemnifying party (which consent shall not be unreasonably withheld), unless such indemnifying party waived in writing its rights under
this Section 9, in which case the indemnified party may effect such a settlement without such consent. No indemnifying party shall, without the prior written consent of the indemnified party, effect any settlement or compromise of any pending
or threatened proceeding in respect of which any indemnified party is or could have been a party, or indemnity could have been sought hereunder by any indemnified party, unless such settlement (A) includes an unconditional written release of
the indemnified party, in form and substance reasonably satisfactory to the indemnified party, from all liability on claims that are the subject matter of such proceeding and (B) does not include any statement as to an admission of fault,
culpability or failure to act by or on behalf of any indemnified party. 
 (d) In circumstances in which the indemnity agreement
provided for in the preceding paragraphs of this Section 9 is unavailable to, or insufficient to hold harmless, an indemnified party in respect of any losses, claims, damages or liabilities (or actions in respect thereof), each indemnifying
party, in order to provide for just and equitable contribution, shall contribute to the amount paid or payable by such indemnified party as a result of such losses, claims, damages or liabilities (or actions in respect thereof) in such proportion as
is appropriate to reflect (i) the relative benefits received by the indemnifying party or parties on the one hand and the indemnified party on the other from the offering of the Notes or if the allocation provided by the foregoing
clause (i) is not permitted by applicable law, not only such relative benefits but also the relative fault of the indemnifying party or parties on the one hand and the 

  
 30 

 
indemnified party on the other in connection with the statements or omissions or alleged statements or omissions that resulted in such losses, claims, damages or liabilities (or actions in
respect thereof). The relative benefits received by the Issuers and Guarantors on the one hand and the Initial Purchasers on the other shall be deemed to be in the same proportion as the total proceeds from the offering (after deducting discounts
and commissions but before deducting expenses) received by the Issuers and Guarantors bear to the total discounts and commissions received by such Initial Purchaser. The relative fault of the parties shall be determined by reference to, among other
things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Issuers and Guarantors on the one hand, or such Initial Purchaser on the
other, the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission or alleged statement or omission, and any other equitable considerations appropriate in the circumstances.
The Issuers, the Guarantors and the Initial Purchasers agree that it would not be equitable if the amount of such contribution were determined by pro rata or per capita allocation or by any other method of allocation that does not take into account
the equitable considerations referred to in the first sentence of this paragraph (d). Notwithstanding any other provision of this paragraph (d), no Initial Purchaser shall be obligated to make contributions hereunder that in the aggregate
exceed the total discounts, commissions and other compensation received by such Initial Purchaser under this Agreement, less the aggregate amount of any damages that such Initial Purchaser has otherwise been required to pay by reason of the untrue
or alleged untrue statements or the omissions or alleged omissions to state a material fact, and no person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to contribution from any person
who was not guilty of such fraudulent misrepresentation. The obligations of the Initial Purchasers are several and not joint. For purposes of this paragraph (d), each director, officer and affiliate of the Initial Purchasers and each person, if
any, who controls any Initial Purchaser within the meaning of Section 15 of the Act or Section 20 of the Exchange Act shall have the same rights to contribution as the Initial Purchasers, and each director of either of the Issuers or any
of the Guarantors, each officer of either of the Issuers or any of the Guarantors and each person, if any, who controls either of the Issuers or any of the Guarantors within the meaning of Section 15 of the Act or Section 20 of the
Exchange Act, shall have the same rights to contribution as the Partnership. 
 Section 10. Survival Clause. The
respective representations, warranties, agreements, covenants, indemnities and other statements of each of the Issuers, Guarantors, their respective officers and the Initial Purchasers set forth in this Agreement or made by or on behalf of them
pursuant to this Agreement shall remain in full force and effect, regardless of (i) any investigation made by or on behalf of any of the Issuers, Guarantors, any of their respective officers or directors, the Initial Purchasers, any of their
officers, directors, affiliates or controlling persons referred to in Section 9 hereof and (ii) delivery of and payment for the Notes. The respective agreements, covenants, indemnities and other statements set forth in Sections 6, 9,
10 and 15 hereof shall remain in full force and effect, regardless of any termination or cancellation of this Agreement. 

  
 31 

 Section 11. Termination. 

(a) This Agreement may be terminated in the sole discretion of the Initial Purchasers by notice to the Issuers given prior to the Closing
Date in the event that the Issuers shall have failed, refused or been unable to perform all obligations and satisfy all conditions on its part to be performed or satisfied hereunder at or prior thereto or, if, after the date hereof and at or prior
to the Closing Date, 
 (i) trading in securities of the Partnership shall have been suspended by the Commission
or the New York Stock Exchange; 
 (ii) there shall have been, in the sole judgment of the Representatives, any
event or development that, individually or in the aggregate, has or could be reasonably likely to have a Material Adverse Effect (including without limitation a change in control of the Issuers or the Guarantors), except in each case as described in
the Pricing Disclosure Package and the Final Memorandum (exclusive of any amendment or supplement thereto); 

(iii) trading in securities generally on the New York Stock Exchange shall have been suspended or materially limited or
minimum or maximum prices shall have been established on any such exchange or market; 
 (iv) a banking
moratorium shall have been declared by New York or United States authorities or a material disruption in commercial banking or securities settlement or clearance services in the United States shall have occurred; 

(v) there shall have been (A) an outbreak or escalation of hostilities between the United States and any foreign
power or (B) an outbreak or escalation of any other insurrection or armed conflict involving the United States or any other national or international calamity or emergency, which in the case of (A) and (B) above and in the sole
judgment of the Representatives, makes it impracticable or inadvisable to proceed with the offering or the delivery of the Notes as contemplated by the Pricing Disclosure Package and the Final Memorandum; or 

(vi) any securities of the Partnership shall have been downgraded by any nationally recognized statistical rating
organization or any such organization shall have publicly announced that it has under surveillance or review, or has changed its outlook with respect to, its ratings of any securities of the Partnership (other than an announcement with positive
implications of a possible upgrading). 
 (b) Termination of this Agreement pursuant to this Section 11 shall be without
liability of any party to any other party except as provided in Section 10 hereof. 
 Section 12. Information
Supplied by the Initial Purchasers. The statements set forth in the last paragraph on the front cover page (as such paragraph is supplemented by the item on Annex A) and in the fourth paragraph and the ninth through eleventh paragraphs
under 

  
 32 

 
the heading “Plan of Distribution” in the Preliminary Memorandum and the Final Memorandum (to the extent such statements relate to the Initial Purchaser) constitute the only information
furnished by the Initial Purchasers to the Issuers for the purposes of Sections 2(a) and 9 hereof. 
 Section 13.
Notices. All communications hereunder shall be in writing and, if sent to the Initial Purchasers, shall be mailed or delivered to Merrill Lynch, Pierce, Fenner & Smith Incorporated, 50 Rockefeller Plaza, New York, NY 10020,
Attention: HY Legal Department, facsimile: (917) 267-7085; and if sent to the Partnership, shall be mailed or delivered to the Partnership at 1000 Louisiana, Suite 4300, Houston, Texas 77002, Attention: Chief Financial Officer; with a copy to
Vinson & Elkins L.L.P., First City Tower, 1001 Fannin Street, Suite 2500, Houston, Texas 77002, Attention: Christopher S. Collins. 
 All such notices and communications shall be deemed to have been duly given: when delivered by hand, if personally delivered; five business days after being deposited in the mail, postage prepaid, if
mailed; and one business day after being timely delivered to a next-day air courier. 
 Section 14. Successors.
This Agreement shall inure to the benefit of and be binding upon the Initial Purchasers, the Issuers and their respective successors and legal representatives, and nothing expressed or mentioned in this Agreement is intended or shall be construed to
give any other person any legal or equitable right, remedy or claim under or in respect of this Agreement, or any provisions herein contained; this Agreement and all conditions and provisions hereof being intended to be and being for the sole and
exclusive benefit of such persons and for the benefit of no other person except that (i) the indemnities of the Issuers contained in Section 9 of this Agreement shall also be for the benefit of any person or persons who control the Initial
Purchasers within the meaning of Section 15 of the Act or Section 20 of the Exchange Act and (ii) the indemnities of the Initial Purchasers contained in Section 9 of this Agreement shall also be for the benefit of the directors
of the Issuers, their officers and any person or persons who control the Issuers within the meaning of Section 15 of the Act or Section 20 of the Exchange Act. No purchaser of Notes from the Initial Purchasers will be deemed a successor
because of such purchase. 
 Section 15. APPLICABLE LAW. THE VALIDITY AND INTERPRETATION OF THIS AGREEMENT, ANY
CLAIM, COUNTERCLAIM OR DISPUTE OF ANY KIND OR NATURE WHATSOEVER ARISING OUT OF OR IN ANY WAY RELATING TO THIS AGREEMENT, DIRECTLY OR INDIRECTLY, AND THE TERMS AND CONDITIONS SET FORTH HEREIN SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE
LAWS OF THE STATE OF NEW YORK APPLICABLE TO CONTRACTS MADE AND TO BE PERFORMED WHOLLY THEREIN, WITHOUT GIVING EFFECT TO ANY PROVISIONS THEREOF RELATING TO CONFLICTS OF LAW. 
 Section 16. No Advisory or Fiduciary Responsibility. The Issuers and the Guarantors acknowledge and agree that (i) the purchase and sale of the Notes pursuant to this Agreement is an
arm’s-length commercial transaction between the Issuers, on the one hand, and the Initial Purchasers, on the other, (ii) in connection therewith and with the process leading to such transaction each Initial Purchaser is acting solely as a
principal and not the agent or 

  
 33 

 
fiduciary of any of the Issuers, (iii) no Initial Purchaser has assumed an advisory or fiduciary responsibility in favor of any of the Issuers with respect to the offering contemplated
hereby or the process leading thereto (irrespective of whether such Initial Purchaser has advised or is currently advising any of the Issuers on other matters) or any other obligation to the Issuers except the obligations expressly set forth in this
Agreement and (iv) each of the Issuers has consulted its own legal and financial advisors to the extent it deemed appropriate. Each of the Issuers agrees that it will not claim that any Initial Purchaser has rendered advisory services of any
nature or respect, or owes a fiduciary or similar duty to any of the Issuers, in connection with such transaction or the process leading thereto. 
 Section 17. Counterparts. This Agreement may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same
instrument. 

  
 34 

 If the foregoing correctly sets forth our understanding, please indicate your acceptance
thereof in the space provided below for that purpose, whereupon this letter shall constitute a binding agreement between the Issuers and the Initial Purchasers. 

 

					
	Very truly yours,
	
	TARGA RESOURCES PARTNERS LP
		
	By:	 	Targa Resources GP LLC,
		 	Its general partner
		
	By:	 	 /s/ Matthew J. Meloy

		 	Name:	 	Matthew J. Meloy
		 	Title:	 	Senior Vice President,
		 		 	Chief Financial Officer and Treasurer
	
	TARGA RESOURCES PARTNERS FINANCE CORPORATION
		
	By:	 	 /s/ Matthew J. Meloy

		 	Name:	 	Matthew J. Meloy
		 	Title:	 	Senior Vice President,
		 		 	Chief Financial Officer and Treasurer

  

Signature Page to the Purchase Agreement 

 
					
	 TARGA CAPITAL LLC

TARGA COGEN LLC
 TARGA DOWNSTREAM LLC

TARGA GAS MARKETING LLC
 TARGA GAS PIPELINE
LLC
 TARGA GAS PROCESSING LLC
 TARGA
INTRASTATE PIPELINE LLC
 TARGA LIQUIDS MARKETING AND TRADE LLC
 TARGA LOUISIANA INTRASTATE LLC
 TARGA MIDSTREAM SERVICES LLC

TARGA MLP CAPITAL LLC
 TARGA NGL PIPELINE COMPANY
LLC
 TARGA RESOURCES OPERATING GP LLC

TARGA RESOURCES OPERATING LLC
 TARGA SOUND
TERMINAL LLC
 TARGA TERMINALS LLC

TARGA TRANSPORT LLC

		
	By:	 	 /s/ Matthew J. Meloy

		 	Name:	 	Matthew J. Meloy
		 	Title:	 	Senior Vice President,
		 		 	Chief Financial Officer and Treasurer

  

					
	SOUND PIPELINE COMPANY, LLC
			
	 	 	By:	 	 
		
		 	MANAGER:
		
		 	 /s/ Rene R. Joyce

		 	Rene R. Joyce
			
		 	By:	 	
		
		 	MEMBER:
		
		 	Targa Terminals LLC
			
		 	By:	 	 /s/ Matthew J. Meloy

		 	Name:	 	Matthew J. Meloy
		 	Title:	 	Senior Vice President, Chief
		 		 	Financial Officer and Treasurer

  

Signature Page to the Purchase Agreement 

 The foregoing Agreement is hereby confirmed 
 and accepted as of the date first above written. 
 MERRILL LYNCH,
PIERCE, FENNER & SMITH 

                        
INCORPORATED 
 DEUTSCHE BANK SECURITIES INC. 

WELLS FARGO SECURITIES, LLC 
 BARCLAYS CAPITAL INC. 
 RBS SECURITIES
INC. 
 Acting on behalf of themselves and as the 
 Representatives of the several Initial Purchasers 
  

							
	By:	 	MERRILL LYNCH, PIERCE, FENNER & SMITH
		 	                        
INCORPORATED
			
		 	By:	 	 /s/ J. Lex Maultsby

		 		 	Name:	 	J. Lex Maultsby
		 		 	Title:	 	Managing Director
		
	By:	 	DEUTSCHE BANK SECURITIES INC.
			
		 	By:	 	 /s/ Steve Cunningham

		 		 	Name:	 	Steve Cunningham
		 		 	Title:	 	Managing Director
			
		 	By:	 	 /s/ Christopher Blum

		 		 	Name:	 	Christopher Blum
		 		 	Title:	 	Managing Director
		
	By:	 	WELLS FARGO SECURITIES, LLC
			
		 	By:	 	 /s/ Todd Schanzlin

		 		 	Name:	 	Todd Schanzlin
		 		 	Title:	 	Managing Director
		
	By:	 	BARCLAYS CAPITAL INC.
			
		 	By:	 	 /s/ Kevin Crealese

		 		 	Name:	 	Kevin Crealese
		 		 	Title:	 	Director
		
	By:	 	RBS SECURITIES INC.
			
		 	By:	 	 /s/ Marin Gagliardi

		 		 	Name:	 	Marin Gagliardi
		 		 	Title:	 	Managing Director

  

Signature Page to the Purchase Agreement 

 SCHEDULE 1 

 

					
	 Initial Purchasers
	  	Principal Amount of Notes	 
		
	 Merrill Lynch, Pierce, Fenner & Smith

                   
  Incorporated
	  	$	100,000,000	  
	 Deutsche Bank Securities Inc.
	  	 	50,000,000	  
	 Wells Fargo Securities, LLC
	  	 	50,000,000	  
	 Barclays Capital Inc.
	  	 	46,000,000	  
	 RBS Securities Inc.
	  	 	46,000,000	  
	 Citigroup Global Markets Inc.
	  	 	18,000,000	  
	 RBC Capital Markets, LLC
	  	 	18,000,000	  
	 Goldman, Sachs & Co.
	  	 	14,000,000	  
	 Morgan Stanley & Co. LLC
	  	 	14,000,000	  
	 UBS Securities LLC
	  	 	14,000,000	  
	 Comerica Securities, Inc.
	  	 	6,000,000	  
	 ING Financial Markets LLC
	  	 	6,000,000	  
	 Natixis Securities Americas LLC
	  	 	6,000,000	  
	 SMBC Nikko Capital Markets Limited
	  	 	6,000,000	  
	 U.S. Bancorp Investments, Inc.
	  	 	6,000,000	  
		  	  
	  
	 
		
	 Total
	  	$	400,000,000	  

  
 Schedule 1-1

 SCHEDULE 2 
 Jurisdiction of Formation for the Partnership and General Partner 
  

			
	 Name
	  	 Jurisdiction of Organization

		
	 Targa Resources Partners LP
	  	Delaware
	 Targa Resources GP LLC
	  	Delaware

 Subsidiaries of the Partnership 

 

			
	 Name
	  	 Jurisdiction of Organization

		
	 Cedar Bayou Fractionators, L.P.
	  	Delaware
	 DEVCO Holdings LLC
	  	Delaware
	 Downstream Energy Ventures Co., L.L.C.
	  	Delaware
	 Sound Pipeline Company, LLC
	  	Washington
	 Targa Canada Liquids Inc.
	  	British Columbia, Canada
	 Targa Capital LLC
	  	Delaware
	 Targa Cogen LLC
	  	Delaware
	 Targa Downstream LLC
	  	Delaware
	 Targa Gas Marketing LLC
	  	Delaware
	 Targa Gas Pipeline LLC
	  	Delaware
	 Targa Gas Processing LLC
	  	Delaware
	 Targa Intrastate Pipeline LLC
	  	Delaware
	 Targa Liquids Marketing and Trade LLC
	  	Delaware
	 Targa Louisiana Intrastate LLC
	  	Delaware
	 Targa Midstream Services LLC
	  	Delaware
	 Targa MLP Capital LLC
	  	Delaware
	 Targa NGL Pipeline Company LLC
	  	Delaware
	 Targa Resources Operating GP LLC
	  	Delaware
	 Targa Resources Operating LLC
	  	Delaware
	 Targa Resources Partners Finance Corporation
	  	Delaware
	 Targa Sound Terminal LLC
	  	Delaware
	 Targa Terminals LLC
	  	Delaware
	 Targa Transport LLC
	  	Delaware
	 Venice Energy Services Company, L.L.C.
	  	Delaware
	 Venice Gathering System, L.L.C.
	  	Delaware
	 Versado Gas Processors, L.L.C.
	  	Delaware
	 Warren Petroleum Company LLC
	  	Delaware

  
 Schedule 2-1

 SCHEDULE 3 
 Non-Guarantor Subsidiaries 
  

			
	 Name
	  	 Jurisdiction of Organization

		
	 Cedar Bayou Fractionators, L.P.
	  	Delaware
	 DEVCO Holdings LLC
	  	Delaware
	 Downstream Energy Ventures Co., L.L.C.
	  	Delaware
	 Targa Canada Liquids Inc.
	  	British Columbia, Canada
	 Targa Resources Partners Finance Corporation
	  	Delaware
	 Venice Energy Services Company, L.L.C.
	  	Delaware
	 Venice Gathering System, L.L.C.
	  	Delaware
	 Versado Gas Processors, L.L.C.
	  	Delaware
	 Warren Petroleum Company LLC
	  	Delaware

  
 Schedule 3-1

 SCHEDULE 4 
 Guarantors 
  

			
	 Name
	  	 Jurisdiction of Organization

		
	 Sound Pipeline Company, LLC
	  	Washington
	 Targa Capital LLC
	  	Delaware
	 Targa Cogen LLC
	  	Delaware
	 Targa Downstream LLC
	  	Delaware
	 Targa Gas Marketing LLC
	  	Delaware
	 Targa Gas Pipeline LLC
	  	Delaware
	 Targa Gas Processing LLC
	  	Delaware
	 Targa Intrastate Pipeline LLC
	  	Delaware
	 Targa Liquids Marketing and Trade LLC
	  	Delaware
	 Targa Louisiana Intrastate LLC
	  	Delaware
	 Targa Midstream Services LLC
	  	Delaware
	 Targa MLP Capital LLC
	  	Delaware
	 Targa NGL Pipeline Company LLC
	  	Delaware
	 Targa Resources Operating GP LLC
	  	Delaware
	 Targa Resources Operating LLC
	  	Delaware
	 Targa Sound Terminal LLC
	  	Delaware
	 Targa Terminals LLC
	  	Delaware
	 Targa Transport LLC
	  	Delaware

  
 Schedule 4-1

 SCHEDULE 5 
 Immaterial Subsidiaries 
  

			
	 Name
	  	 Jurisdiction of Organization

		
	 DEVCO Holdings LLC
	  	Delaware
	 Downstream Energy Ventures Co., L.L.C.
	  	Delaware
	 Sound Pipeline Company, LLC
	  	Washington
	 Targa Canada Liquids Inc.
	  	British Columbia, Canada
	 Targa Capital LLC
	  	Delaware
	Targa Co-Generation LLC (f/k/a/ Targa Energy Pipeline Company LLC)	  	Delaware
	 Targa Gas Marketing LLC
	  	Delaware
	 Targa Gas Pipeline LLC
	  	Delaware
	 Targa Gas Processing LLC
	  	Delaware
	 Targa Intrastate Pipeline LLC
	  	Delaware
	 Targa Louisiana Intrastate LLC
	  	Delaware
	 Targa MLP Capital LLC
	  	Delaware
	 Targa NGL Pipeline LLC
	  	Delaware
	 Targa Resources Operating GP LLC
	  	Delaware
	 Targa Resources Operating LLC
	  	Delaware
	 Targa Resources Partners Finance Corporation
	  	Delaware
	 Targa Sound Terminal LLC
	  	Delaware
	 Targa Terminals LLC
	  	Delaware
	 Targa Transport LLC
	  	Delaware
	 Targa Versado Holdings LP
	  	Delaware
	 Venice Gathering System, L.L.C.
	  	Delaware
	 Warren Petroleum Company LLC
	  	Delaware

  
 Schedule 5-1

 ANNEX A 

 

			
	PRICING SUPPLEMENT	  	STRICTLY CONFIDENTIAL

 US$400,000,000 
  

 
 TARGA RESOURCES PARTNERS LP 

TARGA RESOURCES PARTNERS FINANCE CORPORATION 

5 1/4% SENIOR NOTES DUE 2023 

October 22, 2012 
  

 
 This Pricing Supplement is
qualified in its entirety by reference to the Preliminary Offering Memorandum dated October 22, 2012. The information in this Pricing Supplement supplements the Preliminary Offering Memorandum and supersedes the information in the Preliminary
Offering Memorandum to the extent inconsistent with the information in the Preliminary Offering Memorandum. Capitalized terms used but not defined in this Pricing Supplement have the respective meanings ascribed to them in the Preliminary Offering
Memorandum. 
 The notes have not been registered under the Securities Act of 1933, as amended (the “Securities
Act”), and are being offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and outside the United States to non-U.S. persons in accordance with Regulation S under the Securities Act. The notes are
not transferable except in accordance with the restrictions described under “Transfer Restrictions” in the Preliminary Offering Memorandum. 
 Terms Applicable to the 5 1/4% Senior Notes due 2023 
  

							
	Issuers:	 	 Targa Resources Partners LP
 Targa Resources Partners Finance Corporation

		
	Principal Amount:	 	$400,000,000
		
	Net Proceeds:	 	$393,500,000
		
	Title of Securities:	 	5 1/4% Senior Notes due 2023 (the “Notes”)
		
	Final Maturity Date:	 	May 1, 2023
		
	Issue Price:	 	99.500%, plus accrued interest, if any, from October 25, 2012
		
	Coupon:	 	5.250%
		
	Yield to Maturity:	 	5.313%
		
	Interest Payment Dates:	 	May 1 and November 1, beginning on May 1, 2013
		
	Record Dates:	 	April 15 and October 15
		
	Optional Redemption:	 	Prior to November 1, 2017, the Issuers may redeem all or a part of the Notes at a redemption price equal to 100% of the principal amount of Notes redeemed, plus the
Applicable Premium as of, and accrued and unpaid interest and Liquidated Damages, if any, to the date of redemption.

  
 Annex A-1

							
		 	In addition, on or after November 1, 2017, the Issuers may redeem all or a part of the Notes at the redemption prices (expressed as percentages of principal amount)
set forth below, plus accrued and unpaid interest and Liquidated Damages, if any, on the Notes redeemed, to the applicable redemption date, if redeemed during the twelve-month period beginning on November 1 of each year indicated
below:

									
				
	  	  	 Year
	  	Price	 	 	 
	  	 2017
	  	 	102.625	% 	 
	  	 2018
	  	 	101.750	% 	 
	  	 2019
	  	 	100.875	% 	 
	  	 2020 and thereafter
	  	 	100.000	% 	 

							
		
	 Optional Redemption After

Certain Equity Offerings:
	  	Up to 35% at 105.250% prior to November 1, 2015
		
	Initial Purchasers:	  	 Merrill Lynch, Pierce, Fenner & Smith
                      Incorporated
 Deutsche Bank Securities Inc.
 Wells Fargo Securities, LLC

Barclays Capital Inc.
 RBS Securities
Inc.
 Citigroup Global Markets Inc.

RBC Capital Markets, LLC
 Goldman, Sachs &
Co.
 Morgan Stanley & Co. LLC
 UBS
Securities LLC
 Comerica Securities, Inc.
 ING Financial Markets LLC
 Natixis Securities Americas LLC

SMBC Nikko Capital Markets Limited
 U.S. Bancorp
Investments, Inc.

		
	Trade Date:	  	October 22, 2012
		
	Settlement Date:	  	October 25, 2012 (T+3 business days)
		
	Denominations:	  	$2,000 and integral multiples of $1,000 in excess thereof
		
	Distribution:	  	144A and Regulation S with registration rights as set forth in the Preliminary Offering Memorandum
				
	CUSIP and ISIN Numbers:	  		  		  	
		  	144A Notes: 	  		  	Reg S Notes:
		  	CUSIP: 87612B AL6	  		  	CUSIP: U87571 AE2
		  	ISIN: US87612BAL62	  		  	ISIN: USU87571AE29

 Other information (including financial information) presented in the Preliminary Offering Memorandum is deemed to have
changed to the extent effected by the changes described herein. 
 This material is confidential and is for your information only and is
not intended to be used by anyone other than you. This information does not purport to be a complete description of these Notes or the offering. Please refer to the Preliminary Offering Memorandum for a complete description. 

Any disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such disclaimers or other
notices were automatically generated as a result of this communication being sent via Bloomberg email or another communication system. 

  
 Annex A-2

 ANNEX B 

 

	1.	Second Amended and Restated Credit Agreement, dated October 3, 2012, among Targa Resources Partners LP, as Borrower, Bank of America, N.A., as Administrative
Agent, Collateral Agent, Swing Line Lender and L/C Issuer, Wells Fargo Bank, National Association and The Royal Bank of Scotland plc, as Co-Syndication Agents, Deutsche Bank Securities Inc. and Barclays Bank PLC as the Co-Documentation Agents and
the other lenders party thereto 

  

	2.	Indenture dated June 18, 2008, among Targa Resources Partners LP, Targa Resources Partners Finance Corporation, the Guarantors named therein and U.S. Bank National
Association, as supplemented 

  

	3.	Indenture dated as of July 6, 2009, among Targa Resources Partners LP, Targa Resources Partners Finance Corporation, the Guarantors named therein and U.S. Bank
National Association, as supplemented 

  

	4.	Indenture dated as of August 13, 2010, among Targa Resources Partners LP, Targa Resources Partners Finance Corporation, the Guarantors named therein and U.S. Bank
National Association, as supplemented 

  

	5.	Indenture dated as of February 2, 2011, among Targa Resources Partners LP, Targa Resources Partners Finance Corporation, the Guarantors named therein and U.S. Bank
National Association, as supplemented 

  

	6.	Indenture dated as of January 31, 2012, among Targa Resources Partners LP, Targa Resources Partners Finance Corporation, the Guarantors named therein and U.S. Bank
National Association, as supplemented 

  
 Annex B-1

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