Document:

Exhibit 10.6

EXHIBIT 10.6

Compensation Arrangements with Remer Y. Brinson, III

Neither Georgia-Carolina Bancshares, Inc. (“Company”), nor First Bank of Georgia (“Bank”), has
a written employment agreement with Remer Y. Brinson, III, President and Chief Executive Officer of
Georgia-Carolina Bancshares, Inc. and First Bank of Georgia. Mr. Brinson’s current (2011) salary
is $282,669 and Mr. Brinson is eligible for an annual incentive award under the Bank’s Annual
Incentive Plan, pursuant to which he received $29,646 for his performance in 2010. See Exhibit
10.8 for a description of the Annual Incentive Plan. Mr. Brinson is eligible for stock option
grants under the Company’s option plans as determined from time to time by the Board of Directors
of the Company. In addition, Mr. Brinson participates in the Bank’s medical, dental, life and
disability insurance plans and he may participate in the Company’s 401(k) plan. Mr. Brinson also
receives the following perquisites: payment of private and civic club membership dues, provision of
an automobile and an automobile allowance. The aggregate value of these perquisites in 2010 was
less than $10,000.

Mr. Brinson entered into a Severance Protection Agreement with the Bank, which entitles him to
certain payments following a change in control of the Company. The Severance Protection Agreement
was filed with the Company’s Annual Report on Form 10-K for the year ended December 31, 2006 as
Exhibit 10.6.Exhibit 10.7

EXHIBIT 10.7

Compensation Arrangements with Thomas J. Flournoy

Neither Georgia-Carolina Bancshares, Inc. (“Company”), nor First Bank of Georgia (“Bank”), has
a written employment agreement with Thomas J. Flournoy, Chief Financial Officer of Georgia-Carolina
Bancshares, Inc. and First Bank of Georgia. Mr. Flournoy’s current (2011) salary is $159,908. Mr.
Flournoy is eligible for stock option grants under the Company’s option plans as determined from
time to time by the Board of Directors of the Company. In addition, Mr. Flournoy participates in
the Bank’s medical, dental, life and disability insurance plans and he may participate in the
Company’s 401(k) plan.

Mr. Flournoy entered into a Severance Protection Agreement with the Bank, which entitles him
to certain payments following a change in control of the Company. The Severance Protection
Agreement was filed with the Company’s 8-K filing on June 26, 2009.Exhibit 10.8

EXHIBIT 10.8

First Bank of Georgia Annual Incentive Plan

for

Remer Y. Brinson, III, President and Chief Executive Officer,

Georgia-Carolina Bancshares, Inc. and First Bank of Georgia

In March 2006, the independent directors who are members of the Executive Committee of the
Board of Directors of First Bank of Georgia approved the First Bank of Georgia Annual Incentive
Plan (the “Plan”), pursuant to which Mr. Brinson (the “Executive Officer”) may earn an incentive
award equal to a percentage of their annual base salary. The cash incentive award is based upon
meeting certain financial performance objectives established at the beginning of each calendar
year.

The performance measures are related to asset growth, net income (including accruals for
incentive payments under the AIP), and a subjective assessment by the Board of Directors. The
financial performance objectives of asset growth and net income are assigned a weighting factor of
40% each, and the subjective assessment of the Board of Directors is assigned a weighting factor of
20%.

The AIP includes a “threshold,” “target” and “stretch” or aspiration goal in each of the asset
growth and net income categories. Failure to meet the threshold goals results in no incentive
payment in that category. Achievement of the threshold goals is designed to result in an incentive
award of 15% of base salary. Achievement of the target goals is designed to result in an incentive
award of 30% of base salary. Achievement of the stretch goals is designed to result in an
incentive award of 60% of base salary. The performance objectives are designed so that the
achievement of the target goals would be considered to be reflective of superior performance, and
the target goals are considered to be difficult to achieve.

Certain other quality measures are also included in the AIP, which can have the effect of
increasing or decreasing the incentive award amount by as much as 45%. The credit quality measures
are designed to act as control measures to insure that net income is not achieved at the expense of
credit quality, and that balanced results are achieved. The credit quality measures include
expectations related to: (i) classified assets as a percent of total assets, (ii) charge-offs as a
percent of loans, and (iii) delinquencies as a percent of loans. If the credit quality results do
not meet expectations for a particular credit quality measure, the incentive award will be reduced
by 15%. If the credit quality results meet expectations, there is no impact on the incentive
award. If the credit quality results exceed expectations, there will be a 15% increase in the
incentive award. Adjustments under the credit quality measures will only be made if the target net
income measure is exceeded.

The subjective assessment of the Board of Directors takes into account various circumstances,
developments and occurrences during the year which may have had an impact on the performance
measures, and the Board of Directors may act subjectively based upon those considerations and may
make upward or downward adjustments to an incentive award based upon the 20% weighting factor.

Excluding the subjective assessment of the Board of Directors, and assuming that (i) the
stretch goals were attained for each financial performance category, and (ii) the results of each
of the credit quality measures exceeded expectations, the maximum annual incentive award which
could be earned is 87% of base salary.

Pursuant to the actual results for the year ended December 31, 2010, asset growth exceeded the
threshold amount. Net income for the year ended December 31, 2010 did not meet the threshold goal,
so no incentive payment was earned with respect to that performance measure. Since the net income
goal was not met, the credit quality criteria is not applicable for 2010. Therefore, pursuant to
the 2010 AIP, Mr. Brinson’s incentive award was $29,646.

The financial performance objectives and credit quality measures may be adjusted annually by
the Board of Directors or an appropriate committee of the Board of Directors. The financial
performance objectives have not been modified for the 2011 AIP year.exv10w1

Exhibit 10.1

EXECUTION COPY

 

AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT

Dated as of March 24, 2011

among

WESTERN GAS PARTNERS, LP,

As the Borrower,

WELLS FARGO BANK, NATIONAL ASSOCIATION,

As Administrative Agent,

DNB NOR BANK ASA,

As Syndication Agent,

BANK OF MONTREAL,

COMERICA BANK

and

THE BANK OF TOKYO-MITSUBISHI UFJ, LTD.,

As Documentation Agents

and

THE LENDERS SIGNATORY HERETO

 

WELLS FARGO SECURITIES, LLC

DNB NOR MARKETS, INC.

Co-Lead Arrangers and Bookrunners

 

 

 

TABLE OF CONTENTS

	 	 	 	 	 
	 	 	Page	 
	ARTICLE I

DEFINITIONS AND ACCOUNTING TERMS

	 
	 	 	 	 
	Section 1.01 Defined Terms
	 	 	1	 
	Section 1.02 Use of Defined Terms
	 	 	18	 
	Section 1.03 Accounting Terms
	 	 	18	 
	Section 1.04 Interpretation
	 	 	18	 
	 
	 	 	 	 
	ARTICLE II

AMOUNT AND TERMS OF LOANS

	 
	 	 	 	 
	Section 2.01 Loans
	 	 	19	 
	Section 2.02 Repayment of Loans; Evidence of Debt
	 	 	19	 
	Section 2.03 Procedure for Borrowing
	 	 	20	 
	Section 2.04 Facility Fees and LC Fees
	 	 	21	 
	Section 2.05 Letters of Credit
	 	 	21	 
	Section 2.06 Reduction or Termination of Commitments
	 	 	26	 
	Section 2.07 Optional Prepayments
	 	 	26	 
	Section 2.08 Mandatory Prepayments
	 	 	27	 
	Section 2.09 Commitment Increases
	 	 	27	 
	Section 2.10 Interest
	 	 	29	 
	Section 2.11 Computation of Interest and Fees
	 	 	30	 
	Section 2.12 Funding of Borrowings
	 	 	31	 
	Section 2.13 Pro Rata Treatment and Payments
	 	 	31	 
	Section 2.14 Increased Cost of Loans
	 	 	33	 
	Section 2.15 Illegality
	 	 	35	 
	Section 2.16 Taxes
	 	 	35	 
	Section 2.17 Substitute Loan Basis
	 	 	38	 
	Section 2.18 Certain Prepayments or Continuations
	 	 	38	 
	Section 2.19 Certain Notices
	 	 	38	 
	Section 2.20 Minimum Amounts of Eurodollar Borrowings
	 	 	39	 
	Section 2.21 Break Funding Payments
	 	 	39	 
	Section 2.22 Swingline Loans
	 	 	39	 
	Section 2.23 Defaulting Lenders
	 	 	41	 
	 
	 	 	 	 
	ARTICLE III

REPRESENTATIONS AND WARRANTIES

	 
	 	 	 	 
	Section 3.01 Representations of the Borrower
	 	 	43	 
	 
	 	 	 	 
	ARTICLE IV

AFFIRMATIVE COVENANTS

	 
	 	 	 	 
	Section 4.01 Financial Statements and Other Information
	 	 	45	 
	Section 4.02 Notices of Material Events
	 	 	46	 

i

 

	 	 	 	 	 
	 	 	Page	 
	Section 4.03 Compliance with Laws
	 	 	47	 
	Section 4.04 Use of Proceeds
	 	 	47	 
	Section 4.05 Maintenance of Property; Insurance
	 	 	47	 
	Section 4.06 Additional Guarantors
	 	 	47	 
	Section 4.07 Books and Records; Inspections
	 	 	48	 
	Section 4.08 Payment of Obligations
	 	 	48	 
	Section 4.09 Material Contracts
	 	 	48	 
	 
	 	 	 	 
	ARTICLE V

FINANCIAL COVENANTS

	 
	 	 	 	 
	Section 5.01 Consolidated Leverage Ratio
	 	 	48	 
	Section 5.02 Consolidated Interest Coverage Ratio
	 	 	48	 
	 
	 	 	 	 
	ARTICLE VI

NEGATIVE COVENANTS

	 
	 	 	 	 
	Section 6.01 Nature of Business
	 	 	49	 
	Section 6.02 Liens
	 	 	49	 
	Section 6.03 Dispositions
	 	 	51	 
	Section 6.04 Transactions with Affiliates
	 	 	51	 
	Section 6.05 Indebtedness
	 	 	52	 
	Section 6.06 Investments
	 	 	53	 
	Section 6.07 Restricted Payments
	 	 	54	 
	Section 6.08 Intercompany Payments
	 	 	54	 
	Section 6.09 Limitations on Sales and Leasebacks
	 	 	55	 
	Section 6.10 Fundamental Changes
	 	 	55	 
	Section 6.11 Negative Pledge Agreements
	 	 	55	 
	 
	 	 	 	 
	ARTICLE VII

CONDITIONS OF LENDING

	 
	 	 	 	 
	Section 7.01 Conditions Precedent to Effectiveness
	 	 	56	 
	Section 7.02 Conditions Precedent to Loans
	 	 	57	 
	 
	 	 	 	 
	ARTICLE VIII

EVENTS OF DEFAULT

	 
	 	 	 	 
	Section 8.01 Events of Default 
	 	 	57	 
	 
	 	 	 	 
	ARTICLE IX

THE AGENTS

	 
	 	 	 	 
	Section 9.01 Powers
	 	 	59	 
	Section 9.02 Agent’s Reliance, Etc.
	 	 	60	 
	Section 9.03 No Responsibility for Recitals, Etc.
	 	 	60	 
	Section 9.04 Right to Indemnity
	 	 	60	 
	Section 9.05 Action on Instructions of Lenders
	 	 	60	 
	Section 9.06 Employment of Agents
	 	 	61	 
	Section 9.07 Reliance on Documents
	 	 	61	 

ii

 

	 	 	 	 	 
	 	 	Page	 
	Section 9.08 Rights as a Lender
	 	 	61	 
	Section 9.09 Non-Reliance on Agents or other Lenders
	 	 	61	 
	Section 9.10 Events of Default
	 	 	61	 
	Section 9.11 Successor Agent
	 	 	62	 
	Section 9.12 Arrangers and Other Agents
	 	 	62	 
	 
	 	 	 	 
	ARTICLE X

MISCELLANEOUS

	 
	 	 	 	 
	Section 10.01 Notices
	 	 	62	 
	Section 10.02 Waivers; Amendments
	 	 	63	 
	Section 10.03 Expenses; Indemnity; Damage Waiver
	 	 	64	 
	Section 10.04 Successors and Assigns
	 	 	65	 
	Section 10.05 Survival
	 	 	68	 
	Section 10.06 Counterparts; Integration; Effectiveness
	 	 	68	 
	Section 10.07 Severability
	 	 	69	 
	Section 10.08 Right of Setoff
	 	 	69	 
	Section 10.09 Governing Law; Jurisdiction; Consent to Service of Process
	 	 	69	 
	Section 10.10 WAIVER OF JURY TRIAL
	 	 	70	 
	Section 10.11 Headings
	 	 	70	 
	Section 10.12 Confidentiality
	 	 	70	 
	Section 10.13 Termination and Substitution of Lender
	 	 	71	 
	Section 10.14 USA Patriot Act Notice
	 	 	72	 
	Section 10.15 Amendment and Restatement
	 	 	72	 

Annexes, Schedules and Exhibits:

	 	 	 

	Annex I

	 	(List of Commitments)
	 
	 	 
	Schedule I

	 	(Pricing Schedule)
	Schedule II

	 	(Subsidiaries)
	Schedule III

	 	(Swingline Loan Rate Calculation)
	Schedule IV

	 	(Affiliate Agreements)
	 
	 	 
	Exhibit A

	 	(Form of Note)
	Exhibit B

	 	(Assignment and Assumption)
	Exhibit C

	 	(Form of Notice of Commitment Increase)
	Exhibit D

	 	(Form of Guaranty Agreement)

iii

 

     This AMENDED AND RESTATED REVOLVING CREDIT AGREEMENT is made as of March 24, 2011 (the
“Effective Date”), by and among WESTERN GAS PARTNERS, LP, a limited partnership organized under the
laws of the State of Delaware (the “Borrower”), WELLS FARGO BANK, NATIONAL ASSOCIATION,
individually and as Administrative Agent (herein, together with its successors in such capacity,
the “Administrative Agent”), DNB NOR BANK ASA, as Syndication Agent (herein, together with its
successors and assigns, the “Syndication Agent”), BANK OF MONTREAL, COMERICA BANK and THE BANK OF
TOKYO-MITSUBISHI UFJ, LTD., as Documentation Agents (herein, together with their successors and
assigns, each a “Documentation Agent”), and each of the Lenders that is a signatory hereto or which
becomes a signatory hereto pursuant to Section 10.04 (individually, together with its successors
and assigns, a “Lender” and collectively, the “Lenders”).

     WHEREAS, the Borrower, certain of the Lenders, the Administrative Agent and the other parties
thereto entered into the Existing Revolving Credit Agreement (as defined below); and

     WHEREAS, the Borrower has requested and the Lenders have consented to the amendment and
restatement of the Existing Revolving Credit Agreement, and the renewal and extension of all
obligations and Indebtedness thereunder.

     NOW THEREFORE, in consideration of the mutual covenants and agreements contained herein, the
parties hereto agree that the Existing Revolving Credit Agreement is amended and restated as
follows:

ARTICLE I

DEFINITIONS AND ACCOUNTING TERMS

     Section 1.01 Defined Terms. As used in this Agreement, and unless the context otherwise requires,
the following terms shall have the meanings set out respectively after each:

     “Acquired Indebtedness” — (i) with respect to any Person that becomes a Subsidiary after the
Effective Date as the result of a Permitted Acquisition, Indebtedness of such Person and its
Subsidiaries (including, for the avoidance of doubt, Indebtedness incurred in the ordinary course
of such Person’s business to acquire assets used or useful in its business) existing at the time
such Person becomes a Subsidiary that was not incurred in connection with, or in contemplation of,
such Person becoming a Subsidiary and (ii) with respect to the Borrower or any Subsidiary, any
Indebtedness of a Person (including, for the avoidance of doubt, Indebtedness incurred in the
ordinary course of such Person’s business to acquire assets used or useful in its business), other
than the Borrower or a Subsidiary, existing at the time such Person is merged with or into the
Borrower or a Subsidiary, or Indebtedness expressly assumed by the Borrower or any Subsidiary in
connection with the acquisition of an asset or assets from such Person, which Indebtedness was not,
in any case, incurred by such other Person in connection with, or in contemplation of, such merger
or acquisition.

     “Acquisition” — the acquisition by any Person, in a single transaction or in a series of
related transactions, of property or assets (other than capital expenditures in the ordinary course
of business) of, or of a business unit or division of, another Person or at least a majority of the

1

 

Equity Interests having ordinary voting power for the election of directors, managing general
partners or the equivalent of another Person, in each case whether or not involving a merger or
consolidation with such other Person and whether for cash, property, services, assumption of
Indebtedness, securities or otherwise.

     “Administrative Agent” — as defined in the preamble hereof.

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

     “Affected Loans” — as defined in Section 2.18.

     “Affiliate” — with respect to any Person, another Person that directly or indirectly (through
one or more intermediaries) Controls or is Controlled by or is under common Control with the Person
specified.

     “Agents” — each of the Administrative Agent, the Syndication Agent and the Documentation
Agents.

     “Agreement” — this Amended and Restated Revolving Credit Agreement, as the same may from time
to time be amended, modified, supplemented or restated.

     “Alternate Base Rate” — for any day, a rate per annum equal to the greatest of (a) the Prime
Rate in effect on such day, (b) the Federal Funds Effective Rate in effect on such day plus 1/2 of
1%, and (c) the LIBO Rate for a one month Interest Period on such day (or if such day is not a
Business Day, the immediately preceding Business Day) plus 1%. Any change in the Alternate Base
Rate due to a change in the Prime Rate, the Federal Funds Effective Rate or the LIBO Rate shall be
effective from and including the effective date of such change in the Prime Rate, the Federal Funds
Effective Rate or the LIBO Rate, respectively.

     “Alternate Base Rate Loans” — Revolving Loans hereunder at all times when they bear interest
at a rate based upon the Alternate Base Rate.

     “Anadarko” — Anadarko Petroleum Corporation, a Delaware corporation.

     “Applicable Percentage” — with respect to any Lender, the percentage of the total Commitments
represented by such Lender’s Commitment. If the Commitments of all Lenders have terminated or
expired, the Applicable Percentages shall be determined based upon such Lender’s percentage of
outstanding Revolving Loans and LC Exposure.

     “Assignment and Assumption” — an assignment and assumption entered into by a Lender and an
assignee (with the consent of any party whose consent is required by Section 10.04), and accepted
by the Administrative Agent, in the form of Exhibit B or any other form approved by the
Administrative Agent.

     “Available Cash” — the meaning ascribed to such term in the Partnership Agreement as in
effect on the Effective Date, with such amendments thereto as agreed to by the Majority Lenders.

2

 

     “Bankruptcy Laws” — Title 11 of the United States Code entitled “Bankruptcy”, as
amended from time to time and any similar other applicable law or statute in any other jurisdiction
as amended from time to time.

     “Base Rate Margin” — a rate per annum determined in accordance with the Pricing Schedule.

     “Board” — the Board of Governors of the Federal Reserve System.

     “Board of Directors” — with respect to a Person, the board of directors or other governing
body of such Person.

     “Borrower” — Western Gas Partners, LP, a Delaware limited partnership or permitted successor
and assigns under Section 10.04.

     “Borrowing” — (a) Loans of the same Type, made, converted or continued on the same date and,
in the case of Eurodollar Loans, as to which a single Interest Period is in effect or (b) a
Swingline Loan.

     “Borrowing Date” — each Business Day specified in a notice pursuant to Section 2.03 as a date
on which the Borrower requests (or is deemed to have requested) the Lenders to make Loans.

     “Borrowing Request” — a request by the Borrower for a Borrowing in accordance with Section
2.03.

     “Business Day” — any day that is not a Saturday, Sunday or other day on which commercial
banks in New York City, New York are authorized or required by law to remain closed; provided that
when used in connection with a Eurodollar Loan, the term “Business Day” shall also exclude any day
on which banks are not open for dealings in Dollar deposits in the London interbank market.

     “Capital Lease” — as applied to any Person, any lease of any property (whether real, personal
or mixed) by that Person as lessee that, in accordance with GAAP, is required to be accounted for
as a capital lease on the balance sheet of that Person.

     “Cash Equivalents” — as at any date, (a) securities guaranteed or insured by the United
States or any agency or instrumentality thereof (provided that the full faith and credit of the
United States is pledged in support thereof) having maturities of not more than twelve months from
the date of acquisition, (b) Dollar denominated time deposits and certificates of deposit of (i)
any Lender, (ii) any domestic commercial bank of recognized standing having capital and surplus in
excess of $500,000,000 or (iii) any bank whose short-term commercial paper rating from S&P is at
least A-1 or the equivalent thereof or from Moody’s is at least P-1 or the equivalent thereof (any
such bank being an “Approved Bank”), in each case with maturities of not more than 270 days from
the date of acquisition, (c) commercial paper and variable or fixed rate notes issued by any
Approved Bank (or by the parent company thereof) or any variable rate notes issued by, or
guaranteed by, any domestic corporation rated A-1 (or the equivalent thereof) or better by S&P or
P-1 (or the equivalent thereof) or better by Moody’s and maturing within six

3

 

months of the date of acquisition, (d) repurchase agreements entered into by any Person with a
bank or trust company (including any of the Lenders) or recognized securities dealer having capital
and surplus in excess of $500,000,000 for direct obligations issued by or fully guaranteed by the
United States in which such Person shall have a perfected first priority security interest (subject
to no other Liens) and having, on the date of purchase thereof, a fair market value of at least
100% of the amount of the repurchase obligations and (e) Investments, classified in accordance with
GAAP as current assets, in money market investment programs registered under the Investment Company
Act of 1940 which are administered by reputable financial institutions having capital of at least
$500,000,000 or having portfolio assets of at least $5,000,000,000 and the portfolios of which are
comprised primarily of Investments of the character described in the foregoing subdivisions (a)
through (d).

     “Change in Law” — any change in any applicable law, treaty or governmental regulation after
the date of this Agreement, or in the interpretation or application thereof after the date of this
Agreement, or compliance by any Lender or the Issuing Bank with any request or directive (whether
or not having the force of law) from any central bank or other Governmental Authority made or
issued after the date of this Agreement; provided that notwithstanding anything herein to the
contrary, (x) the Dodd-Frank Wall Street Reform and Consumer Protection Act and all requests,
rules, guidelines or directives thereunder or issued in connection therewith and (y) all requests,
rules, guidelines or directives promulgated by the Bank for International Settlements, the Basel
Committee on Banking Supervision (or any successor or similar authority) or the United States
foreign regulatory authorities, in each case pursuant to Basel III, shall in each case be deemed to
be a “Change in Law”, regardless of the date enacted, adopted or issued.

     “Change of Control” — (a) Anadarko shall cease to own, directly or indirectly, 51% of the
voting ownership interest of the General Partner, or (b) the General Partner shall cease to either
be or control the sole general partner of the Borrower.

     “Chipeta” — Chipeta Processing LLC.

     “CI Lender” — as defined in the definition of “Notice of Commitment Increase.”

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

     “Commission” — the Securities and Exchange Commission, as from time to time constituted,
created under the Securities Exchange Act of 1934, or, if at any time after the execution of this
Agreement such Commission is not existing and performing the duties now assigned to it, then the
body performing such duties at such time.

     “Commitment” — with respect to each Lender, the total aggregate commitment of such Lender to
make Revolving Loans pursuant to Section 2.01 and to acquire participations in Letters of Credit
and Swingline Loans pursuant to Section 2.05 and Section 2.22, as such commitment may be (a)
reduced from time to time pursuant to Section 2.06, (b) reduced or increased (with such Lender’s
consent) from time to time (i) pursuant to Section 2.09 and (ii) pursuant to assignments by or to
such Lender pursuant to Section 10.04, (c) reduced or terminated pursuant to Section 10.13, or (d)
terminated pursuant to ARTICLE VIII. The initial

4

 

amount of each Lender’s Commitment is set forth on Annex I, or in the Assignment and
Assumption pursuant to which such Lender shall have assumed its Commitment, as applicable. The
initial aggregate amount of the Commitments is $800,000,000.

     “Commitment Increase” — as defined in Section 2.09(a).

     “Commitment Increase Effective Date” — as defined in Section 2.09(a).

     “Consolidated EBITDA” — for any period, an amount equal to Consolidated Net Income for such
period plus, to the extent deducted in determining Consolidated Net Income for such period, the
aggregate amount of (a) taxes based on or measured by income, (b) Consolidated Interest Expense and
(c) depreciation and amortization expenses; provided that, at the Borrower’s option, and subject to
the approval of the Administrative Agent (such approval not to be unreasonably withheld or
delayed), Consolidated EBITDA shall be calculated by giving effect to Material Project EBITDA
Adjustments.

     “Consolidated Indebtedness” — at any time, the Indebtedness of the Borrower and its
Subsidiaries, determined on a consolidated basis as of such time in accordance with GAAP.

     “Consolidated Interest Coverage Ratio” — as of the last day of each fiscal quarter of the
Borrower, the ratio of (a) Consolidated EBITDA for the period of four consecutive fiscal quarters
ending on such day to (b) Consolidated Interest Expense for the period of four consecutive fiscal
quarters ending on such day.

     “Consolidated Interest Expense” — for any period, the sum (determined without duplication) of
the aggregate gross interest expense (excluding, for the avoidance of doubt, any interest income)
of the Borrower and its Subsidiaries for such period, including to the extent included in interest
expense under GAAP: (a) amortization of debt discount and (b) capitalized interest.

     “Consolidated Leverage Ratio” — as of the last day of each fiscal quarter of the Borrower,
the ratio of (a) Consolidated Indebtedness on such day to (b) Consolidated EBITDA for the period of
four consecutive fiscal quarters ending on such day.

     “Consolidated Net Income” — for any period, the net income of the Borrower and its
Subsidiaries for such period determined on a consolidated basis in accordance with GAAP; provided
that: (A) Consolidated Net Income shall not include (i) extraordinary gains or extraordinary
losses, (ii) net gains and losses in respect of disposition of assets other than in the ordinary
course of business, (iii) gains or losses attributable to write-ups or write-downs of assets
including unrealized gains or losses with respect to hedging and derivative activities, (iv) gains
or losses attributable to any Joint Venture or Non-Wholly Owned Subsidiary, unless such gains are
actually distributed to the Borrower or its Subsidiaries in cash and (v) the cumulative effect of a
change in accounting principles, all as reported in the Borrower’s consolidated statement(s) of
income for the relevant period(s) prepared in accordance with GAAP; and (B) if the Borrower or any
Subsidiary shall acquire or dispose of any property during such period, then Consolidated Net
Income shall be calculated after giving pro forma effect to such acquisition or disposition, as if
such acquisition or disposition had occurred on the first day of such period.

5

 

     “Consolidated Net Tangible Assets” — as of any date of determination, the total amount of
assets of the Borrower and its Subsidiaries determined on a consolidated basis after deducting
therefrom the value (net of any applicable reserves) of all current liabilities (excluding (i) any
current liabilities that by their terms are extendable or renewable at the option of the obligor
thereon to a time more than 12 months after the time as of which the amount thereof is being
computed, and (ii) current maturities of long-term debt), goodwill, trade names, trademarks,
patents and other like intangible net assets, all as set forth, or on a pro forma basis would be
set forth, on the consolidated balance sheet of the Borrower and its Subsidiaries for the most
recently completed fiscal quarter, in accordance with GAAP.

     “Control” — the possession, directly or indirectly, of the power to direct or cause the
direction of the management or policies of a Person, whether through the ability to exercise voting
power, by contract, or otherwise. “Controlling” and “Controlled” have meanings correlative
thereto.

     “Credit Exposure” — LC Exposure, Revolving Credit Exposure, Swingline Exposure, or any
thereof.

     “Default” — an event which with the giving of notice or the passage of time, or both, would
constitute an Event of Default.

     “Defaulting Lender” — any Lender that that (a) (i) has failed to fund any portion of its
Loans or participations in Letters of Credit or Swingline Loans required to be funded by it
hereunder within one Business Day of the date required to be funded by it hereunder unless such
Lender notifies the Administrative Agent and the Borrower in writing that such failure is the
result of such Lender’s determination that one or more conditions precedent to funding (each of
which conditions precedent, together with any applicable Event of Default, shall be specifically
identified in such writing) has not been satisfied, (ii) has otherwise failed to pay over to the
Administrative Agent or any other Lender any other amount required to be paid by it hereunder
within one Business Day of the date when due, unless such amount is the subject of a good faith
dispute, (iii) has notified the Borrower, the Administrative Agent or any other Lender in writing
that it does not intend to comply with any of its funding obligations under this Agreement or has
made a public statement to the effect that it does not intend to comply or has failed to comply
with its funding obligations under this Agreement or (iv) has, or has a direct or indirect parent
company that has, (A) been adjudicated as, or determined by any Governmental Authority as having
regulatory authority over such Person or its assets to be, insolvent or (B) become the subject of a
bankruptcy, receivership, insolvency or comparable proceeding or has had a receiver, conservator,
trustee or custodian appointed for it or has taken any action in furtherance of, or indicating its
consent to, approval of or acquiescence in any such proceeding or appointment; provided, that a
Lender shall not be a Defaulting Lender solely by virtue of the ownership or acquisition of any
equity interest in such Lender or a parent company thereof by a Governmental Authority or
instrumentality thereof, or (b) assigns or transfers all or a part of its rights hereunder without
the prior written consent of the Borrower, unless such assignment or transfer is made without the
consent of the Borrower pursuant to Section 10.04(b)(i)(A).

     “Disposition” or “Dispose” — the sale, transfer, license, lease or other disposition
(including any Sale and Leaseback Transaction) of any property by the Borrower or any

6

 

Subsidiary (including the Equity Interests of any Subsidiary), including any sale, assignment,
transfer or other disposal, with or without recourse, of any notes or accounts receivable or any
rights and claims associated therewith.

     “Documentation Agent” — as defined in the preamble hereof.

     “Domestic Lending Office” — initially, the office of a Lender designated as such in its
Administrative Questionnaire, and thereafter such other office of such Lender, if any, of which
such Lender shall have most recently notified the Administrative Agent and the Borrower in writing.

     “Effective Date” — as defined in the preamble.

     “Environmental Laws” — to the extent relating to exposure to hazardous or toxic substances or
materials, any applicable and legally enforceable requirement of any Governmental Authority
pertaining to (a) the protection of human health, safety, and the indoor or outdoor environment,
(b) the conservation, management, or use of natural resources and wildlife, (c) the protection or
use of surface water and groundwater, (d) the management, manufacture, possession, presence, use,
generation, transportation, treatment, storage, disposal, release, threatened release, abatement,
removal, remediation or handling of, or exposure to, any hazardous or toxic substance or material
or (e) pollution (including any release to land surface water and groundwater) and includes,
without limitation, the Comprehensive Environmental Response, Compensation, and Liability Act of
1980, as amended by the Superfund Amendments and Reauthorization Act of 1986, 42 USC 9601 et seq.,
Solid Waste Disposal Act, as amended by the Resource Conservation and Recovery Act of 1976 and
Hazardous and Solid Waste Amendment of 1984, 42 USC 6901 et seq., Federal Water Pollution Control
Act, as amended by the Clean Water Act of 1977, 33 USC 1251 et seq., Clean Air Act, as amended, 42
USC 7401 et seq., Toxic Substances Control Act of 1976, 15 USC 2601 et seq., Hazardous Materials
Transportation Law, 49 USC App. 1501 et seq., Occupational Safety and Health Act of 1970, as
amended, 29 USC 651 et seq., Oil Pollution Act of 1990, 33 USC 2701 et seq., Emergency Planning and
Community Right to Know Act of 1986, 42 USC 11001 et seq., National Environmental Policy Act of
1969, 42 USC 4321 et seq., Safe Drinking Water Act of 1974, as amended, 42 USC 300(f) et seq., any
analogous implementing or successor law, and any amendment, rule, regulation, order, or directive
issued thereunder.

     “Equity Interests” — shares of capital stock, partnership interests, membership interests in
a limited liability company, beneficial interests in a trust or other equity ownership interests in
a Person, and any warrants, options or other rights entitling the holder thereof to purchase or
acquire any such Equity Interest.

     “ERISA” — the Employee Retirement Income Security Act of 1974, as amended from time to time.

     “ERISA Affiliate” — any trade or business (whether or not incorporated) that, together with
the Borrower, is treated as a single employer under Section 414(b) or (c) of the Code or, solely
for purposes of Section 302 of ERISA and Section 412 of the Code, is treated as a single employer
under Section 414 of the Code.

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     “ERISA Event” — (a) any “reportable event,” as defined in Section 4043 of ERISA or the
regulations issued thereunder with respect to a Plan (other than an event for which the 30-day
notice period is waived), (b) the withdrawal of the Borrower, a Subsidiary or any ERISA Affiliate
from a Plan during a plan year in which it was a “substantial employer” as defined in Section
4001(a)(2) of ERISA, (c) the failure of a Plan to meet the minimum funding standards under Section
412 of the Code or Section 302 of ERISA (determined without regard to Section 412(c) of the Code or
Section 302(c) of ERISA), (d) the incurrence by the Borrower, any Subsidiary or any of ERISA
Affiliate of any liability under Title IV of ERISA with respect to the termination of any Plan, (e)
the receipt by the Borrower, a Subsidiary or any ERISA Affiliate from the Pension Benefit Guaranty
Corporation or a plan administrator of any notice relating to an intention to terminate any Plan or
Plans or to appoint a trustee to administer any Plan, (f) the incurrence by the Borrower, a
Subsidiary or any ERISA Affiliate of any liability with respect to the withdrawal or partial
withdrawal from any Plan or Multiemployer Plan, (g) the failure of a Plan to satisfy the
requirements of Section 401(a)(29) of the Code, Section 436 of the Code or Section 206(g) of ERISA,
or (h) the receipt by the Borrower, a Subsidiary or any ERISA Affiliate of any notice, or the
receipt by any Multiemployer Plan from the Borrower, a Subsidiary or any ERISA Affiliate of any
notice, concerning the imposition of withdrawal liability under Section 4202 of ERISA, or a
determination that a Multiemployer Plan is, or is expected to be, “insolvent,” in “reorganization,”
in “endangered status,” or in “critical status” (within the meaning assigned to such terms under
ERISA).

     “Eurodollar Lending Office” — initially, the office of a Lender designated as such in its
Administrative Questionnaire, and thereafter such other office of such Lender, if any, of which
such Lender shall have most recently notified the Administrative Agent and the Borrower in writing.

     “Eurodollar Loan” — a Loan denominated in Dollars that bears interest at a rate based upon
the LIBO Rate.

     “Eurodollar Margin” — a rate per annum determined in accordance with the Pricing Schedule.

     “Event of Default” — any of the events of default set forth in ARTICLE VIII.

     “Excess Commitment” — as defined in Section 10.13.

     “Excluded Taxes” — with respect to the Administrative Agent, any Lender, the Issuing Bank or
any other recipient of any payment to be made by or on account of any obligation of the Borrower
hereunder, (a) income or franchise taxes imposed on (or measured by) the net income or “taxable
margin” (within the meaning of the Texas Franchise Tax) of such Administrative Agent, Lender,
Issuing Bank or other recipient by the United States or any political subdivision thereof, or by
the jurisdiction under the laws of which such recipient is organized or in which its principal
office is located or, in the case of any Lender, in which its applicable lending office is located,
(b) any branch profits taxes imposed by the United States, or any similar tax imposed by any other
jurisdiction in which the Borrower is located, (c) in the case of a Foreign Lender, any withholding
tax that is imposed in respect of amounts payable by the Borrower by the United States of America
or by any other jurisdiction in which such Lender is organized, has its

8

 

principal office or its applicable lending office on amounts payable to such Foreign Lender at
the time such Foreign Lender becomes a party to this Agreement (or designates a new lending office)
or is attributable to such Foreign Lender’s failure to comply with Section 2.16(e) except to the
extent that such Foreign Lender (or its assignor, if any) was entitled, at the time of designation
of a new lending office (or assignment), to receive additional amounts from the Borrower with
respect to such withholding tax pursuant to Section 2.16(e), (d) in the case of a Lender other than
a Foreign Lender, any backup withholding that is imposed in respect of amounts payable by the
Borrower by the United States of America that is attributable to such Lender’s failure to comply
with Section 2.16(e), and (e) any withholding Taxes imposed under FATCA.

     “Existing Revolving Credit Agreement” — the Revolving Credit Agreement, dated as of October
29, 2009, among the Borrower, Wells Fargo Bank, National Association, as Administrative Agent, Bank
of America, N.A. and DnB NOR Bank ASA, New York Branch, as Syndication Agents, The Bank of Nova
Scotia and BNP Paribas, as Documentation Agents, and the lenders parties thereto, as amended by the
First Amendment to Revolving Credit Agreement, dated as of May 5, 2010, among the Borrower, Wells
Fargo Bank, National Association, as Administrative Agent, and the lenders parties thereto.

     “Existing Term Loan Agreement” — the Term Loan Agreement, dated as of August 2, 2010, among
the Borrower, Wells Fargo Bank, National Association, as Administrative Agent, DnB NOR Bank ASA,
New York Branch, as Syndication Agent, U.S. Bank National Association, as Documentation Agent, and
the lenders parties thereto.

     “Extension of Credit” — the making of any Loan or the issuance of any Letter of Credit.

     “Facility Fee” — as defined in Section 2.04(a).

     “Facility Fee Rate” — a rate per annum determined daily in accordance with the Pricing
Schedule.

     “FATCA” — Sections 1471 through 1474 of the Code and any current or future regulations or
official interpretations thereof.

     “Federal Funds Effective Rate” — for any day, the weighted average (rounded upwards, if
necessary, to the next 1/100 of 1%) of the rates on overnight US Federal funds transactions with
members of the US Federal Reserve System arranged by Federal funds brokers, as published on the
next succeeding Business Day by the Federal Reserve Bank of New York, or, if such rate is not so
published for any day that is a Business Day, the average (rounded upwards, if necessary, to the
next 1/100 of 1%) of the quotations for such day for such transactions received by the
Administrative Agent from three Federal funds brokers of recognized standing selected by it.

     “Financial Officer” — the chief financial officer, principal accounting officer, treasurer or
controller of the Borrower or any other officer or employee that any of the foregoing may, in
accordance with the Borrower’s customary business practices, designate to act as a Financial
Officer by notice to the Administrative Agent in accordance with this Agreement.

9

 

     “Fitch” — Fitch, Inc., and any successor thereto that is a nationally recognized rating
agency.

     “Foreign Lender” — any Lender that is organized under the laws of a jurisdiction other than
that in which the Borrower is located. For purposes of this definition, the United States of
America, each State thereof and the District of Columbia shall be deemed to constitute a single
jurisdiction.

     “GAAP” — generally accepted accounting principles in the United States of America, as in
effect from time to time.

     “General Partner” — Western Gas Holdings, LLC, a Delaware limited liability company.

     “Governmental Authority” — the government of the United States, any other nation or any
political subdivision thereof, whether state or local, and any agency, authority, instrumentality,
regulatory body, court, central bank or other entity exercising executive, legislative, judicial,
taxing, regulatory or administrative powers or functions of or pertaining to government.

     “Guarantor” — each of the Subsidiaries of the Borrower listed on Schedule II other
than Chipeta, and (b) each other Wholly Owned Subsidiary of the Borrower that guarantees the Loans
pursuant to Section 4.06.

     “Guaranty Agreement” — the Guaranty Agreement dated as of even date herewith by the
Guarantors, in favor of the Administrative Agent for the benefit of the Lenders, any Lender or
Affiliate of a Lender party to a Lender Hedging Agreement or a Treasury Management Agreement.

     “Indebtedness” — any indebtedness which (a) is for money borrowed, (b) represents the
deferred purchase price of property or assets purchased, except trade accounts payable in the
ordinary course of business, (c) is in respect of a capitalized lease or (d) is in respect of a
guarantee of any of the foregoing obligations of another Person.

     “Indemnified Taxes” — Taxes other than Excluded Taxes.

     “Indemnitee” — as defined in Section 10.03(b).

     “Information” — as defined in Section 10.12.

     “Information Memorandum” — the Executive Summary dated March 2011 relating to the Borrower
and the Transactions.

     “Interest Election Request” — as defined in Section 2.10(c).

     “Interest Payment Date” — (a) as to any Alternate Base Rate Loan (other than the Swingline
Loans and except as provided in Section 2.18), the end of any calendar quarter with respect thereto
and, as to any Lender, the Maturity Date for such Lender, (b) as to any Eurodollar

10

 

Loan (other than the Swingline Loans), the last day of the Interest Period with respect
thereto, and, for Interest Periods longer than 3 months, each date which is 3 months, or a whole
multiple thereof, from the first day of such Interest Period and (c) as to any Swingline Loan, the
day such Swingline Loan is paid.

     “Interest Period” — with respect to any Eurodollar Loan, (i) initially, the period commencing
on the Borrowing Date or continuation date, as the case may be, with respect to such Eurodollar
Loan and ending 2 weeks or 1, 2, 3, 6 or, to the extent funds are available, as determined by the
Administrative Agent, 9 or 12 months thereafter, as selected by the Borrower in its Borrowing
Request or Interest Election Request, as the case may be, given with respect thereto, and (ii)
thereafter, each period commencing on the last day of the next preceding Interest Period applicable
to such Eurodollar Loan and ending 2 weeks or 1, 2, 3, 6 or, to the extent funds are available, as
determined by the Administrative Agent, 9 or 12 months thereafter, as selected by the Borrower by
irrevocable notice to the Administrative Agent not less than two Business Days prior to the last
day of the then current Interest Period with respect thereto; provided that (A) if any Interest
Period would end on a day other than a Business Day, such Interest Period shall be extended to the
next succeeding Business Day unless such next succeeding Business Day would fall in the next
calendar month, in which case such Interest Period shall end on the next preceding Business Day,
and (B) any Interest Period (other than a 2 week Interest Period) that commences on the last
Business Day of a calendar month (or on a day for which there is no numerically corresponding day
in the last calendar month of such Interest Period) shall end on the last Business Day of the last
calendar month of such Interest Period.

     “Investment” — with respect to any Person, (a) any purchase or other acquisition by such
Person of (i) any Equity Interest issued by, (ii) a beneficial interest in any Equity Interest
issued by, or (iii) any other equity ownership interest in, any other Person, (b) any purchase by
that Person of all or a significant part of the assets of a business conducted by another Person,
(c) any loan, advance (other than deposits with financial institutions available for withdrawal on
demand, prepaid expenses, accounts receivable and similar items made or incurred in the ordinary
course of business as presently conducted), or capital contribution by that Person to any other
Person, including all Indebtedness of any other Person to that Person arising from a sale of
property by that Person other than in the ordinary course of its business, and (d) any guaranty
obligation incurred by that Person in respect of Indebtedness of any other Person.

     “Investment Grade Rating” — the rating of the Loans or senior unsecured non-credit enhanced
publicly held debt of the Borrower, by at least two of the three rating agencies as follows: BBB-
or better by S&P or Baa3 or better by Moody’s or BBB- or better by Fitch.

     “Investment Grade Rating Date” — the date on which the Borrower achieves an Investment Grade
Rating.

     “Issuing Bank” — Wells Fargo Bank, National Association and any other consenting Lender
reasonably acceptable to the Administrative Agent. The Issuing Bank may, in its discretion,
arrange for one or more Letters of Credit requested by the Borrower in accordance with this
Agreement to be issued by Affiliates of the Issuing Bank, in which case the term “Issuing Bank”
shall include any such Affiliate with respect to Letters of Credit issued by such Affiliate.

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     “Joint Venture” — any Person, other than an individual, the Borrower or a Wholly Owned
Subsidiary of the Borrower, in which the Borrower or a Subsidiary of the Borrower holds or acquires
no more than 50% of such Person’s Equity Interests (whether by way of capital stock, partnership or
limited liability company interest, or other evidence of ownership) excluding warrants, options or
unexercised rights to acquire or purchase an Equity Interest.

     “LC Disbursement” — a payment made by the Issuing Bank pursuant to a Letter of Credit issued
by the Issuing Bank.

     “LC Exposure” — at any time, the sum of (a) the aggregate undrawn amount of all outstanding
Letters of Credit issued for the account of the Borrower at such time, plus (b) the aggregate
amount of all LC Disbursements that the Borrower is obligated to reimburse but which have not yet
been reimbursed by or on behalf of the Borrower at such time. The LC Exposure of any Lender at any
time shall be equal to its Applicable Percentage of the total LC Exposure at such time.

     “LC Fees” — as defined in Section 2.04(b).

     “LC Issuance Limit” — for the Issuing Bank, a maximum aggregate amount of $50,000,000.

     “Lender” — as defined in the preamble hereof. Unless the context otherwise requires, the
term “Lender” includes the Swingline Lender.

     “Lender Hedging Agreement” — any agreement with respect to any swap, forward, future or
derivative transaction or option or similar agreement, whether exchange traded, “over-the-counter”
or otherwise, involving, or settled by reference to, one or more rates, currencies, commodities,
equity or debt instruments or securities, or economic, financial or pricing indices or measures of
economic, financial or pricing risk or value or any similar transaction or any combination of these
transactions which agreement is between the Borrower or a Subsidiary and a Person that is, or was
at the time such agreement was entered into, a Lender or an Affiliate of a Lender.

     “Letter of Credit” — any stand-by letter of credit issued after the Effective Date pursuant
to this Agreement.

     “LIBO Rate” — with respect to any Eurodollar Borrowing for any Interest Period, the rate
reported by Bloomberg L.P. in its index of rates (or any successor to or substitute for such index,
providing rate quotations comparable to those currently provided on such page of such index, as
determined by the Administrative Agent from time to time for purposes of providing quotations of
interest rates applicable to US Dollar deposits in the London interbank market) at approximately
11:00 a.m., London time, two Business Days prior to the commencement of such Interest Period, as
the rate for US Dollar deposits with a maturity comparable to such Interest Period. In the event
that such rate is not available at such time for any reason, then the “LIBO Rate” with respect to
such Eurodollar Borrowing for such Interest Period shall be the rate at which US Dollar deposits of
$5,000,000 and for a maturity comparable to such Interest Period are offered by the principal
London office of the Administrative Agent in immediately available

12

 

funds in the London interbank market at approximately 11:00 a.m., London time, two Business
Days prior to the commencement of such Interest Period.

     “Lien” — any mortgage, pledge, hypothecation, assignment, deposit arrangement, security
interest, encumbrance, lien (statutory or otherwise), preference, priority or charge of any kind
(including any conditional sale or other title retention agreement, any financing or similar
statement or notice filed under the Uniform Commercial Code as adopted and in effect in the
relevant jurisdiction or other similar recording or notice statute, and any lease in the nature
thereof).

     “Loan” — the Revolving Loans made by the Lenders to the Borrower pursuant to this Agreement.
Unless the context otherwise requires, the term “Loan” includes a Swingline Loan.

     “Loan Document(s)” — this Agreement, the Guaranty Agreement, any Notes and each and every
other agreement executed in connection with this Agreement.

     “Majority Lenders” — at any time, Lenders holding more than 50.0% of the then aggregate
outstanding amount of the Revolving Loans, LC Exposure and Swingline Exposure held by the Lenders
or, if no such principal amount or LC Exposure is then outstanding, the Lenders having more than
50.0% of the Commitments; provided that the Credit Exposures and unused Commitments held or deemed
held by, any Defaulting Lender shall be excluded for the purposes of making a determination of
Majority Lenders..

     “Margin Regulations” — Regulations T, U and X of the Board.

     “Material Adverse Change” — any change occurring since December 31, 2008, in the consolidated
financial position or results of operations of the Borrower and its Subsidiaries taken as a whole
that has had or could reasonably be expected to have the effect of preventing the Borrower from
carrying on its business or from meeting its current and anticipated obligations on a timely basis.

     “Material Project” — any capital construction or expansion project of the Borrower or its
Subsidiaries that has an aggregate capital cost or budgeted capital cost to Borrower or its
Subsidiaries in excess of $20,000,000.

     “Material Project EBITDA Adjustments” — with respect to each Material Project, (A) prior to
completion of the Material Project, a percentage (equal to the then-current completion percentage
of the Material Project) of an amount to be determined by the Borrower as the projected
Consolidated EBITDA attributable to such Material Project (such amount to be determined by the
Borrower in good faith and in a commercially reasonable manner based on customer contracts relating
to such Material Project, the creditworthiness of the other parties to such contracts and projected
revenues from such contracts, capital costs and expenses, scheduled completion, and other factors
mutually agreed upon by the Borrower and the Administrative Agent) which shall be added, at the
Borrowers’ option, to actual Consolidated EBITDA for the fiscal quarter in which construction of
such Material Project commences and for each fiscal quarter thereafter until completion of the
Material Project (net of any actual Consolidated EBITDA attributable to such Material Project
following its completion), provided that if construction of the Material Project is not completed
by the scheduled completion date, then the

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foregoing amount shall be reduced by the following percentage amounts depending on the period
of delay for completion (based on the period of actual delay or then-estimated delay, whichever is
longer): (i) longer than 90 days, but not more than 180 days, 25%, (ii) longer than 180 days but
not more than 270 days, 50%, and (iii) longer than 270 days, 100%; and (B) beginning with the first
full fiscal quarter following completion of the Material Project and for the two immediately
succeeding fiscal quarters, an amount equal to the projected Consolidated EBITDA attributable to
the Material Project for the balance of the four full fiscal quarter period following completion
shall be added to the actual Consolidated EBITDA attributable to the Material Project for such
fiscal quarter or quarters for determining Consolidated EBITDA for the fiscal quarter then ending
and the immediately preceding three fiscal quarters.

     Notwithstanding the foregoing, with respect to any compliance certificate sent by the Borrower
to the Administrative Agent in determining compliance with the financial covenants set forth in
ARTICLE V hereof: (i) all Material Project EBITDA Adjustments to Consolidated EBITDA will not be
deemed accepted unless the Borrower shall have delivered to the Administrative Agent, and the
Administrative Agent shall have approved (such approval not to be unreasonably withheld), written
pro forma projections of Consolidated EBITDA attributable to such Material Project (together with a
reasonably detailed explanation of the basis therefore) and such other information and
documentation as the Administrative Agent may reasonably request, all in form and substance
reasonably satisfactory to the Administrative Agent, and (ii) the aggregate amount of all Material
Project EBITDA Adjustments during any period shall be limited to 15% of the total actual
Consolidated EBITDA for such period (which total actual Consolidated EBITDA shall be determined
without including any Material Project EBITDA Adjustments or any adjustments in respect of any
acquisitions as provided in the definition of Consolidated EBITDA).

     “Material Subsidiary” — any Subsidiary which as of any relevant date either (i) represents
more than five percent (5%) of the Consolidated Net Income of the Borrower for the preceding period
of four (4) consecutive fiscal quarters for which financial statements are then available or (ii)
if such Subsidiary were formed or acquired during such period, would have represented more than
five percent (5%) of Consolidated Net Income assuming that Consolidated Net Income were calculated
after giving pro forma effect to such acquisition or formation, as if it had occurred on the first
day of such period.

     “Maturity Date” — March 24, 2016.

     “Moody’s” — Moody’s Investors Service, Inc., and any successor thereto that is a nationally
recognized rating agency.

     “Multiemployer Plan” — a Plan which is a multiemployer plan as defined in section 3(37) or
4001 (a)(3) of ERISA.

     “New Funds Amount” —the amount equal to the product of a CI Lender’s Commitment represented
as a percentage of the aggregate total Commitments after giving effect to the Commitment Increase
times the aggregate principal amount of the outstanding Revolving Loans immediately prior to giving
effect to the Commitment Increase, if any, as of a Commitment Increase Effective Date (without
regard to any increase in the aggregate principal amount of

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Revolving Loans as a result of any Revolving Borrowings made after giving effect to the
Commitment Increase on such Commitment Increase Effective Date).

     “Non-Controlled Subsidiary” — any Non-Wholly Owned Subsidiary that is not Controlled by the
Borrower.

     “Non-Wholly Owned Subsidiary” — any Subsidiary other than a Wholly Owned Subsidiary.

     “Note” — any promissory note of the Borrower payable to a Lender in substantially the form
attached hereto as Exhibit A.

     “Notice of Commitment Increase” — a notice in the form of Exhibit C specifying (i)
the proposed effective date of a Commitment Increase, (ii) the amount of the requested Commitment
Increase, (iii) the amount of such Commitment Increase agreed to by each then existing Lender and
evidence of such agreement reasonably satisfactory to the Administrative Agent, such Lender and the
Borrower, (iv) the identity of each financial institution not already a Lender (which such
financial institution shall be reasonably acceptable to the Administrative Agent), which has agreed
with the Borrower to become a Lender to effect such Commitment Increase, accompanied by evidence
reasonably satisfactory to the Administrative Agent, such CI Lender and the Borrower of such CI
Lender’s agreement thereto and its joinder to this Agreement and (v) the amount of the respective
Commitments of the then existing Lenders and any such CI Lenders from and after the Commitment
Increase Effective Date. Each such existing Lender or new Lender referenced in (iii) or (iv) being
a “CI Lender”.

     “Other Taxes” — any and all present or future stamp or documentary taxes or any other excise
or property taxes, charges or similar levies arising from any payment made hereunder or from the
execution, delivery or enforcement of, or otherwise with respect to, this Agreement, other than
income, franchise and similar taxes and Excluded Taxes.

     “Participant” — as defined in Section 10.04(c)(i).

     “Partnership Agreement” — the Amended and Restated Agreement of Limited Partnership of the
Borrower, as may be amended from time to time.

     “Permitted Acquisition” — an Acquisition by the Borrower or any of its Subsidiaries, so long
as (i) no Default or Event of Default is in existence or would be created thereby and (ii) (x) a
substantial part of the assets of the Person (including any Joint Venture) or (y) the assets being
acquired by the Borrower or such Subsidiaries are in each case commonly understood to be in the
midstream energy business.

     “Person” — any individual, corporation, partnership, joint venture, association, joint-stock
company, trust, unincorporated organization or government or any agency or political subdivision
thereof.

     “Plan” — any employee pension benefit plan, as defined in section 3(2) of ERISA, which (a) is
currently or hereafter sponsored, maintained or contributed to by the Borrower, a Subsidiary or an
ERISA Affiliate or (b) was at any time during the six calendar years preceding

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the date hereof, sponsored, maintained or contributed to by the Borrower, a Subsidiary or an
ERISA Affiliate.

     “Pricing Schedule” — the schedule attached hereto as Schedule I and identified as
such.

     “Prime Rate” — the rate of interest per annum publicly announced from time to time by the
Administrative Agent as its prime rate in effect at its principal U.S. office; each change in the
Prime Rate shall be effective from and including the date such change is publicly announced as
being effective. Such rate is set by the Administrative Agent as a general reference rate of
interest, taking into account such factors as the Administrative Agent may deem appropriate; it
being understood that many of the Administrative Agent’s commercial or other loans are not priced
in relation to such rate, that it is not necessarily the lowest or best rate actually charged to
any customer and that the Administrative Agent may make various commercial or other loans at rates
of interest having no relationship to such rate.

     “Principal Amount” —the outstanding principal amount of any Loan.

     “Reducing Percentage Lender” — each then existing Lender immediately prior to giving effect
to a Commitment Increase, which Lender shall not increase its respective Commitment in connection
with such Commitment Increase (with the result that the relative percentage of the aggregate total
Commitments of such Lender shall be reduced after giving effect to such Commitment Increase).

     “Reduction Amount” — the amount by which a Reducing Percentage Lender’s outstanding Revolving
Loans decrease as a result of a Commitment Increase on any Commitment Increase Effective Date
(without regard to the effect of any Revolving Borrowings made on such Commitment Increase
Effective Date after giving effect to the Commitment Increase).

     “Register” — as defined in Section 10.04(b)(iv).

     “Related Parties” — with respect to any specified Person, such Person’s Affiliates and the
respective directors, officers, employees, advisors and agents of such Person and such Person’s
Affiliates.

     “Restricted Payment” — any dividend or other distribution (whether in cash, securities or
other property) with respect to any equity interests in the Borrower or any of its Subsidiaries, or
any payment (whether in cash, securities or other property), including any sinking fund or similar
deposit, on account of the purchase, redemption, retirement, acquisition, cancellation or
termination of any such equity interests in the Borrower or any of its Subsidiaries or any option,
warrant or other right to acquire any such equity interests in the Borrower or any of its
Subsidiaries.

     “Revolving Commitment” — with respect to each Lender, the commitment of such Lender to make
Revolving Loans in an aggregate principal amount at any one time outstanding up to but not
exceeding the amount set forth opposite such Lender’s name on Annex I hereto, as such commitment
may be (a) reduced from time to time pursuant to Section 2.06, (b) reduced or increased from time
to time pursuant to (i) Section 2.09 and (ii) assignments by or to such

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Lender pursuant to Section 10.04, (c) reduced or terminated pursuant to Section 10.13, or (d)
terminated pursuant to ARTICLE VIII.

     “Revolving Commitment Termination Date” — the earliest of:

     (a) the Maturity Date;

     (b) the date on which the Revolving Commitments are terminated in full or reduced to zero
pursuant to Section 2.06; or

     (c) the date on which the Revolving Commitments otherwise are terminated in full and reduced
to zero pursuant to ARTICLE VIII.

     “Revolving Credit Exposure” — at any time, the aggregate outstanding principal amount of
Revolving Loans made by any Lender at such time.

     “Revolving Loan” — any Loan made by the Lenders pursuant to Section 2.01(a) of this
Agreement.

     “Revolving Period” — the period from and including the Effective Date to but excluding the
Revolving Commitment Termination Date.

     “S&P” — Standard & Poor’s Ratings Group, a division of The McGraw-Hill Companies, and any
successor thereto that is a nationally recognized rating agency.

     “Sale and Leaseback Transaction” — as defined in Section 6.09.

     “Subsidiary” — with respect to any Person (the “parent”) at any date, any corporation,
limited liability company, partnership, association or other entity the accounts of which would be
consolidated with those of the parent in the parent’s consolidated financial statements if such
financial statements were prepared in accordance with GAAP as of such date, as well as any other
corporation, limited liability company, partnership, association or other entity (a) of which
securities or other ownership interests representing more than 50% of the equity or more than 50%
of the ordinary voting power or, in the case of a partnership, more than 50% of the general
partnership interests are, as of such date, owned, controlled or held, or (b) that is, as of such
date, otherwise Controlled, by the parent or one or more subsidiaries of the parent or by the
parent and one or more subsidiaries of the parent. Unless the context otherwise clearly requires,
reference in this Agreement to a “Subsidiary” or the “Subsidiaries” refers to a Subsidiary or the
Subsidiaries of the Borrower.

     “Swingline Exposure” — at any time, the aggregate principal amount of all Swingline Loans
outstanding at such time. The Swingline Exposure of any Lender at any time shall be its Applicable
Percentage of the total Swingline Exposure at such time.

     “Swingline Lender” — Wells Fargo Bank, National Association, in its capacity as lender of
Swingline Loans hereunder.

     “Swingline Loan” — a Loan made pursuant to Section 2.22.

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     “Syndication Agent” — as defined in the preamble hereof.

     “Taxes” — any and all present or future taxes, levies, imposts, duties, deductions, charges
or withholdings and interest or penalties in respect thereof imposed by any Governmental Authority.

     “Transactions” — the execution, delivery, and performance by the Borrower of this Agreement,
the borrowing of the Loans, the use of the proceeds thereof, and the issuance of Letters of Credit
hereunder.

     “Treasury Management Agreement” — any agreement governing the provision of treasury or cash
management services, including deposit accounts, funds transfer, automated clearinghouse, zero
balance accounts, returned check concentration, controlled disbursement, lockbox, account
reconciliation and reporting and trade finance services provided by a Lender or an Affiliate of a
Lender.

     “Type” — as to any Loan or Borrowing, its nature as an Alternate Base Rate Loan or an
Alternate Base Rate Borrowing, a Eurodollar Loan or a Eurodollar Borrowing.

     “US” or “United States” — the United States of America, its fifty states, and the District of
Columbia.

     “US Dollars” or “US$” or “$” or “Dollars” — lawful money of the United States of America.

     “USA Patriot Act” — as defined in Section 10.14.

     “Wholly Owned Subsidiary” — any Subsidiary of which all of the outstanding Equity Interests
(other than any directors’ qualifying shares mandated by applicable law), on a fully-diluted basis,
are owned by the Borrower or one or more of the Wholly Owned Subsidiaries or are owned by the
Borrower and one or more of the Wholly Owned Subsidiaries.

     Section 1.02 Use of Defined Terms. Any defined term used in the plural preceded by the definite
article shall be taken to encompass all members of the relevant class. Any defined term used in
the singular preceded by “any” shall be taken to indicate any number of the members of the relevant
class.

     Section 1.03 Accounting Terms. All accounting terms not specifically defined herein shall be
construed in each case in accordance with GAAP as in effect from time to time; provided that unless
the Borrower and the Majority Lenders shall otherwise agree in writing, no such change shall modify
or affect the manner in which compliance with the covenants contained herein is computed such that
all such computations shall be conducted utilizing financial information presented consistently
with prior periods.

     Section 1.04 Interpretation. The word “including” (and with correlative meaning “include”) means
including, without limitation, the generality of any description preceding such term.

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ARTICLE II

AMOUNT AND TERMS OF LOANS

Section 2.01 Loans.

          (a) Subject to the terms and conditions of this Agreement, from time to time during the
Revolving Period, each Lender severally agrees to make Revolving Loans to the Borrower in an
aggregate principal amount that will not result in (i) such Lender’s Credit Exposure
exceeding such Lender’s Commitment or (ii) the sum of the total Credit Exposures of all
Lenders exceeding the total Commitments. Within the foregoing limits, the Borrower may use
the Commitments by borrowing, repaying and prepaying the Revolving Loans in whole or in
part, and reborrowing, all in accordance with the terms and conditions hereof.

          (b) Each Loan shall be made only during the Revolving Period as part of a Borrowing
consisting of Revolving Loans made by the Lenders ratably in accordance with their
Commitments. The failure of any Lender to make any Loan required to be made by it shall not
relieve any other Lender of its obligations hereunder, provided that the Commitments of the
Lenders are several and no Lender shall be responsible for any other Lender’s failure to
make Loans as required.

          (c) Subject to Section 2.17, the Loans may be (i) Eurodollar Loans, (ii) Alternate Base
Rate Loans or (iii) a combination thereof, as determined by the Borrower. Eurodollar Loans
shall be made and maintained by each Lender at either its Eurodollar Lending Office or its
Domestic Lending Office, at its option, provided that the exercise of such option shall not
affect the obligation of the Borrower to repay such Loan in accordance with the terms of
this Agreement or create or increase any obligation of the Borrower not otherwise arising,
or arising in such increased amount, under Section 2.14.

Section 2.02 Repayment of Loans; Evidence of Debt.

          (a) The Borrower hereby unconditionally promises to pay (i) to the Administrative Agent
for the account of each Lender the then unpaid principal and accrued interest amount of each
Revolving Loan of such Lender on the Maturity Date in respect of such Lender, and (ii) to
the Swingline Lender the then unpaid principal amount of each Swingline Loan on the earlier
of the Maturity Date and the first date after such Swingline Loan is made that is the 15th
or last day of a calendar month and is at least two Business Days after such Swingline Loan
is made; provided that on each date that a Revolving Loan is made, the Borrower shall repay
all Swingline Loans then outstanding; provided further, that all Loans shall be paid on such
earlier date upon which the maturity of the Loans shall have been accelerated pursuant to
ARTICLE VIII.

          (b) Each Lender shall maintain in accordance with its usual practice an account or
accounts evidencing the indebtedness of the Borrower to such Lender resulting from each Loan
made by such Lender, including the amounts of principal and interest payable and paid to
such Lender from time to time hereunder.

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

          (d) The entries made in the accounts maintained pursuant to paragraph (b) and (c) of
this Section 2.02 shall be prima facie evidence of the existence and amounts of the
obligations recorded therein; provided that the failure of any Lender or the Administrative
Agent to maintain such accounts or any error therein shall not in any manner affect the
obligation of the Borrower to repay the Loans in accordance with the terms of this
Agreement.

          (e) Any Lender may request that Loans made by it to the Borrower be evidenced by a
promissory note. In such event, the Borrower shall prepare, execute and deliver to such
Lender a promissory note payable to such Lender in substantially the form attached hereto as
Exhibit A. Thereafter, the Loans evidenced by such Note and interest thereon shall,
at all times (including after assignment pursuant to Section 10.04), be represented by one
or more Notes in such form payable to the payee named therein.

          (f) Each Lender is authorized to and shall endorse the date, Type and amount of each
Loan made by such Lender, each continuation thereof, each conversion of all or a portion
thereof to the same or another Type, and the date and amount of each payment of principal
with respect thereto on the schedule annexed to and constituting a part of its Note from the
Borrower. No failure to make or error in making any such endorsement as authorized hereby
shall affect the validity of the obligations of the Borrower to repay the unpaid Principal
Amount of the Loans made to the Borrower with interest thereon as provided in Section 2.10
or the validity of any payment thereof made by the Borrower. Each Lender shall, at the
request of the Borrower, deliver to the Borrower copies of the Borrower’s Note and the
schedules annexed thereto.

     Section 2.03 Procedure for Borrowing. The Borrower may borrow Loans on any Business Day; provided
that the Borrower shall notify the Administrative Agent by telephone of the Borrowing (the
“Borrowing Request”) not later than 10:00 a.m., New York City time (a) three (3) Business Days
prior to the Borrowing Date, in the case of Eurodollar Loans, and (b) on the Borrowing Date, in the
case of Alternate Base Rate Loans. Each telephonic Borrowing Request shall be irrevocable and
shall be confirmed promptly by hand delivery or telecopy to the Administrative Agent of a written
Borrowing Request in a form approved by the Administrative Agent and signed by the Borrower. Each
such telephonic and written Borrowing Request shall specify (i) the amount to be borrowed, (ii) the
Borrowing Date, (iii) whether the Borrowing is to consist of Eurodollar Loans, Alternate Base Rate
Loans, or a combination thereof (in each case stating the amounts and currency requested), (iv) in
the case of Eurodollar Loans, the length of the Interest Period(s) therefor, and (v) the location
and number of the Borrower’s account to which funds are to be disbursed, which shall comply with
the requirements of Section 2.12. Each Borrowing shall be in an aggregate principal amount not
less than the lesser of (i) $10,000,000 or a whole multiple of $5,000,000 in excess thereof, and
(ii) the then unused

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Commitments available to the Borrower. Upon receipt of such notice, the Administrative Agent shall
promptly notify each Lender thereof. Each Lender will make the amount of its pro rata share of
each Borrowing available to the Administrative Agent for the account of the Borrower in accordance
with Section 2.12. The proceeds of each such Borrowing of Revolving Loans will be made available
to the Borrower by the Administrative Agent in accordance with Section 2.12.

Section 2.04 Facility Fees and LC Fees.

          (a) Subject to Section 2.04(d), the Borrower agrees to pay to the Administrative Agent
for the account of each Lender (other than to the Defaulting Lenders, if any) a Facility Fee
from the Effective Date to, but not including, the Maturity Date or such earlier date upon
which the Commitments shall terminate or be reduced to zero as provided herein, computed at
the Facility Fee Rate on the daily amount of the Commitment of such Lender (whether used or
unused) (the “Facility Fee”); provided that, if such Lender continues to have any Credit
Exposure after its Commitment terminates, then such Facility Fee shall continue to accrue on
the daily amount of such Lender’s Credit Exposure from and including the date on which its
Commitment terminates to, but not including, the date on which such Lender ceases to have
any Credit Exposure.

          (b) Subject to Section 2.23(d), the Borrower agrees to pay (i) to the Administrative
Agent for the account of each Lender (other than to the Defaulting Lenders, if any) a
participation fee with respect to its participations in Letters of Credit, which shall
accrue at the same rate as the Eurodollar Margin on the average daily amount of such
Lender’s LC Exposure to the Borrower (excluding any portion thereof attributable to
unreimbursed LC Disbursements) during the period from and including the Effective Date to
but excluding the later of the date on which such Lender’s Commitment terminates and the
date on which such Lender ceases to have any LC Exposure, and (ii) to the Issuing Bank an
issuing fee payable on the date a Letter of Credit is issued for the account of the
Borrower, which shall be the normal issuing fee for letters of credit issued by the Issuing
Bank, not to be less than the greater of $500 or 0.200% times the face amount of such Letter
of Credit (collectively, the “LC Fees”).

          (c) [Reserved].

          (d) Facility Fees and LC Fees payable to any Lender shall be payable quarterly in
arrears on the last day of each March, June, September and December, commencing on March 31,
2011, and on the Maturity Date with respect to such Lender or, with respect to Facility
Fees, on such earlier date as the Commitments shall terminate or be reduced to zero as
provided herein. All accrued Facility Fees and LC Fees payable to any Lender which are not
paid on or before the Maturity Date with respect to such Lender shall be due and payable on
demand.

Section 2.05 Letters of Credit.

          (a) Subject to the terms and conditions set forth herein, the Borrower may request the
issuance of Letters of Credit for its own account or the account of any

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other Person, in a form reasonably acceptable to the Administrative Agent and the
Issuing Bank, at any time and from time to time prior to the Revolving Commitment
Termination Date; provided that the Issuing Bank shall not be obligated to issue any Letter
of Credit that would result in the aggregate undrawn or drawn and unreimbursed amount of
Letters of Credit outstanding issued by the Issuing Bank to exceed its LC Issuance Limit.
In the event of (i) any inconsistency between the terms and conditions of this Agreement and
the terms and conditions of any form of letter of credit application or other agreement
submitted by the Borrower to, or entered into by the Borrower with, the Issuing Bank
relating to any Letter of Credit, or (ii) any terms and conditions supplemental to the terms
and conditions of this Agreement contained in any such form of letter of credit application
or such other agreement, in each case, the terms and conditions of this Agreement shall
control and such supplemental terms and conditions shall be ignored.

          (b) To request the issuance of a Letter of Credit (or the amendment, renewal or
extension of an outstanding Letter of Credit), the Borrower shall hand deliver or telecopy
(or transmit by electronic communication, if arrangements for doing so have been approved by
the Issuing Bank) to the appropriate Issuing Bank and the Administrative Agent (reasonably
in advance of the requested date of issuance, amendment, renewal or extension) a notice
requesting the issuance of a Letter of Credit, or identifying the Letter of Credit to be
amended, renewed or extended, and specifying the date of issuance, amendment, renewal or
extension (which shall be a Business Day), the date on which such Letter of Credit is to
expire (which shall comply with Section 2.05(c)), the amount of such Letter of Credit, the
name and address of the beneficiary thereof and such other information as shall be necessary
to prepare, amend, renew or extend such Letter of Credit. If requested by the Issuing Bank,
the Borrower also shall submit a letter of credit application on the Issuing Bank’s standard
form in connection with any request for a Letter of Credit. A Letter of Credit shall be
issued, amended, renewed or extended only if (and upon issuance, amendment, renewal or
extension of each Letter of Credit, the Borrower shall be deemed to represent and warrant
that), after giving effect to such issuance, amendment, renewal or extension and the
continuation of a Letter of Credit hereunder by the deemed issuance thereof hereunder (i)
the LC Exposure shall not exceed the unused Commitments of all Lenders, (ii) the Credit
Exposure shall not exceed the total Commitments, and (iii) the requested Letter of Credit
shall not result in the Issuing Bank having outstanding Letters of Credit in an aggregate
undrawn or drawn and unreimbursed amount in excess of the Issuing Bank’s LC Issuance Limit;
provided that the Issuing Bank shall not issue, amend, renew or extend any Letter of Credit
if the Issuing Bank shall have received written notice (which has not been rescinded) from
the Administrative Agent or any Lender that any applicable condition precedent to the
issuance, amendment, renewal or extension of such Letter of Credit has not been satisfied at
the requested time of issuance, amendment, renewal or extension of such Letter of Credit.

          (c) Each Letter of Credit shall be denominated in US Dollars and shall expire at or
prior to the close of business on the date selected by the Borrower, which shall not be
later than the earlier of (i) the date one year after the date of the issuance of such
Letter of Credit (or, in the case of any renewal or extension thereof, one year after such
renewal or extension), and (ii) the date that is five (5) Business Days prior to the

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Maturity Date; provided that a Letter of Credit may expire after the Maturity Date if
the Borrower provides to the Issuing Bank at any time on or prior to the date that is five
(5) Business Days prior to the Maturity Date, an amount of cash collateral equal to the LC
Exposure of such Letter of Credit as of such date plus any accrued and unpaid interest
thereon.

          (d) By the issuance of a Letter of Credit (or an amendment to a Letter of Credit
increasing the amount thereof) and without any further action on the part of the Issuing
Bank or the Lenders, the Issuing Bank hereby grants to each Lender, and each such Lender
hereby acquires from the Issuing Bank, a participation in such Letter of Credit equal to
such Lender’s Applicable Percentage of the aggregate amount available to be drawn under such
Letter of Credit. In consideration and in furtherance of the foregoing, each Lender hereby
absolutely and unconditionally agrees to pay to the Administrative Agent, for the account of
the Issuing Bank, such Lender’s Applicable Percentage of each LC Disbursement made by the
Issuing Bank and not reimbursed by the Borrower on the date due as provided in Section
2.05(e), or of any reimbursement payment required to be refunded to the Borrower for any
reason. Each Lender acknowledges and agrees that its obligation to acquire participations
pursuant to this paragraph in respect of Letters of Credit is absolute and unconditional and
shall not be affected by any circumstance whatsoever, including any amendment, renewal or
extension of any Letter of Credit or the occurrence and continuance of an Event of Default
or reduction or termination of the Commitments, and that each such payment shall be made
without any offset, abatement, withholding or reduction whatsoever.

          (e) If the Issuing Bank shall make any LC Disbursement in respect of a Letter of
Credit, the Borrower shall reimburse such LC Disbursement in US Dollars by paying to the
Administrative Agent an amount equal to such LC Disbursement not later than 12:00 noon, New
York City time, on (i) the Business Day that the Borrower receives a notice of such LC
Disbursement from the Administrative Agent, if such notice is received prior to 10:00 a.m.,
New York City time, on the day of receipt, or (ii) the Business Day immediately following
the day that the Borrower receives a notice of such LC Disbursement from the Administrative
Agent, if such notice is not received prior to such time on the day of receipt; provided
that, with respect to any such payment owing by the Borrower prior to the Revolving
Commitment Termination Date, the Borrower may, subject to the conditions to borrowing set
forth herein, request in accordance with Section 2.03 (or Section 2.22 in the case of a
Swingline Loan) that such payment be financed with an Alternate Base Rate Loan or a
Swingline Loan in an equivalent amount and, to the extent so financed, the Borrower’s
obligation to make such payment shall be discharged and replaced by the resulting Borrowing.
If the Borrower fails to make such payment when due, the Administrative Agent shall notify
each Lender of the applicable LC Disbursement, the payment then due from the Borrower in
respect thereof and such Lender’s Applicable Percentage thereof. Promptly following receipt
of such notice, each Lender shall pay to the Administrative Agent its Applicable Percentage
of the payment then due from the Borrower, in the same manner as provided in Section 2.12
with respect to Loans made by such Lender (and Section 2.12 shall apply, mutatis mutandis,
to the payment obligations of the Lenders), and the Administrative Agent shall promptly pay
to the Issuing Bank the amounts so received by the Administrative Agent from the Lenders.

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Promptly following receipt by the Administrative Agent of any payment from the Borrower
pursuant to this paragraph, the Administrative Agent shall distribute such payment to the
Issuing Bank or, to the extent that the Lenders have made payments pursuant to this
paragraph to reimburse the Issuing Bank, then to such Lenders and the Issuing Bank as their
interests may appear. Any payment made by a Lender pursuant to this paragraph to reimburse
the Issuing Bank for any LC Disbursement shall not constitute a Loan and shall not relieve
the Borrower of its obligation to reimburse such LC Disbursement.

          (f) To the extent permitted by law, the Borrower’s obligation to reimburse LC
Disbursements as provided in Section 2.05(e) shall be absolute, unconditional and
irrevocable, and shall be performed strictly in accordance with the terms of this Agreement
under any and all circumstances whatsoever and irrespective of (i) any lack of validity or
enforceability of any Letter of Credit or this Agreement, or any term or provision therein,
(ii) any draft or other document presented under a Letter of Credit proving to be forged,
fraudulent or invalid in any respect or any statement therein being untrue or inaccurate in
any respect, (iii) payment by the Issuing Bank under a Letter of Credit against presentation
of a draft or other document that does not comply with the terms of such Letter of Credit,
or (iv) any other event or circumstance whatsoever, whether or not similar to any of the
foregoing, that might, but for the provisions of this Section, constitute a legal or
equitable discharge of, or provide a right of setoff against, the Borrower’s obligations
hereunder. To the extent permitted by law, none of the Administrative Agent, the Lenders,
or the Issuing Bank, or any of their Related Parties, shall have any liability or
responsibility by reason of or in connection with the issuance or transfer of any Letter of
Credit or any payment or failure to make any payment thereunder (irrespective of any of the
circumstances referred to in the preceding sentence), or any error, omission, interruption,
loss or delay in transmission or delivery of any draft, notice or other communication under
or relating to any Letter of Credit (including any document required to make a drawing
thereunder), any error in interpretation of technical terms or any consequence arising from
causes beyond the control of the Issuing Bank; provided that the foregoing shall not be
construed to excuse the Issuing Bank from liability to the Borrower to the extent of any
direct damages (as opposed to consequential damages, claims in respect of which are hereby
waived by the Borrower to the extent permitted by applicable law) suffered by the Borrower
that are caused by the Issuing Bank’s failure to exercise care when determining whether
drafts and other documents presented under a Letter of Credit comply with the terms thereof.
To the extent permitted by law, the parties hereto expressly agree that, in the absence of
gross negligence or willful misconduct on the part of the Issuing Bank, the Issuing Bank
shall be deemed to have exercised care in each such determination. In furtherance of the
foregoing and without limiting the generality thereof, the parties agree that, with respect
to documents presented which appear on their face to be in substantial compliance with the
terms of a Letter of Credit, the Issuing Bank may, in its sole discretion, either accept and
make payment upon such documents without responsibility for further investigation,
regardless of any notice or information to the contrary, or refuse to accept and make
payment upon such documents if such documents are not in strict compliance with the terms of
such Letter of Credit.

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          (g) The Issuing Bank shall, promptly following its receipt thereof, examine all
documents purporting to represent a demand for payment under a Letter of Credit. The
Issuing Bank shall promptly notify the Administrative Agent and the Borrower by telephone
(confirmed by telecopy) of such demand for payment and whether the Issuing Bank has made or
will make an LC Disbursement thereunder; provided that any failure to give or delay in
giving such notice shall not relieve the Borrower of its obligation to reimburse the Issuing
Bank and the Lenders with respect to any such LC Disbursement.

          (h) If the Issuing Bank shall make any LC Disbursement, then, unless the Borrower shall
reimburse such LC Disbursement in full on the date specified in Section 2.05(e), the unpaid
amount thereof shall bear interest, for each day from and including the date such
reimbursement is due pursuant to Section 2.05(e) to but excluding the date that the Borrower
reimburses such LC Disbursement, at the rate per annum then applicable to Alternate Base
Rate Loans (including the Base Rate Margin); provided that, if the Borrower fails to
reimburse such LC Disbursement when due pursuant to Section 2.05(e), then the provisions of
Section 2.10(a) pertaining to interest payable on overdue principal shall apply. Interest
accrued pursuant to this paragraph shall be for the account of the applicable Issuing Bank,
except that interest accrued on and after the date of payment by any Lender pursuant to
Section 2.05(e) to reimburse the Issuing Bank shall be for the account of such Lender to the
extent of such payment.

          (i) The Issuing Bank may be replaced at any time by written agreement among the
Borrower, the Administrative Agent, the replaced Issuing Bank and the successor Issuing
Bank. The Administrative Agent shall notify the Lenders of any such replacement of the
Issuing Bank. At the time any such replacement shall become effective, the Borrower shall
pay all unpaid fees accrued for the account of the replaced Issuing Bank. From and after
the effective date of any such replacement, (i) the successor Issuing Bank shall have all
the rights and obligations of the Issuing Bank under this Agreement with respect to Letters
of Credit to be issued thereafter, and (ii) references herein to the term “Issuing Bank”
shall be deemed to refer to such successor. After the replacement of the Issuing Bank
hereunder, the replaced Issuing Bank shall remain a party hereto and shall continue to have
all the rights and obligations of the Issuing Bank under this Agreement with respect to
Letters of Credit issued by it prior to such replacement, but shall not be required to issue
additional Letters of Credit.

          (j) (i) If any Event of Default shall occur and be continuing, on the Business Day
that the Borrower receives notice from the Majority Lenders or, if the maturity of the Loans
has been accelerated, from the Administrative Agent or the Majority Lenders, demanding the
deposit of cash collateral pursuant to this paragraph, and (ii) on the Business Day that the
Borrower receives notice from either the Administrative Agent acting alone or the Majority
Lenders demanding deposit of cash collateral pursuant to Section 2.08(b) (or, if such notice
is received on a day other than a Business Day, on the next Business Day following receipt
of such notice), the Borrower shall deposit in an account with the Administrative Agent, in
the name of the Administrative Agent and for the benefit of the Lenders, an amount in cash
(in the applicable currency) equal to the LC Exposure as of such date plus any accrued and

25

 

unpaid interest thereon; provided that the obligation to deposit such cash collateral
shall become effective immediately, and such deposit shall become immediately due and
payable, without demand or other notice of any kind, upon the occurrence of any Event of
Default with respect to the Borrower described in Section 8.01(f) or Section 8.01(g). Such
deposit shall be held by the Administrative Agent as collateral for the payment and
performance of the obligations of the Borrower under this Agreement. The Administrative
Agent shall have exclusive dominion and control, including the exclusive right of
withdrawal, over such account. Other than any interest earned on the investment of such
deposits, which investments shall be made in certificates of deposits of the Administrative
Agent or securities backed by the full faith and credit of the United States of America, at
the option of the Administrative Agent and at the Borrower’s risk and expense, such deposits
shall not bear interest. Interest or profits, if any, on such investments shall accumulate
in such account. Monies in such account shall be applied by the Administrative Agent to
reimburse the Issuing Bank for LC Disbursements for which it has not been reimbursed and, to
the extent not so applied, shall be held for the satisfaction of the reimbursement
obligations of the Borrower for the LC Exposure at such time or, if the maturity of the
Loans has been accelerated (but subject to the consent of the Majority Lenders), be applied
to satisfy other obligations of the Borrower under this Agreement. If the Borrower is
required to provide an amount of cash collateral hereunder as a result of the occurrence of
an Event of Default, such amount (to the extent not applied as aforesaid) shall be returned
to the Borrower within two (2) Business Days after all Events of Default have been cured or
waived.

     Section 2.06 Reduction or Termination of Commitments. Unless previously terminated, the
Commitments shall terminate on the Revolving Commitment Termination Date. The Borrower shall have
the right, upon not less than two (2) Business Days’ notice to the Administrative Agent, to
terminate the Commitments or, from time to time, reduce the amount of the Commitments; provided,
however, that the Borrower shall not terminate or reduce any Commitment if, after giving effect to
any concurrent repayment of the Loans in accordance with Section 2.07 and Section 2.08 the total
Credit Exposure of the Lenders would exceed the sum of total Commitments. Any reduction shall be
accompanied by prepayment of the Loans to the extent, if any, that the total Credit Exposure of the
Lenders then outstanding exceeds the sum of the total Commitments as then reduced. Any termination
of the Commitments shall be accompanied by prepayment in full of the Loans then outstanding and the
payment of any unpaid fees then accrued hereunder. Upon receipt of such notice, the Administrative
Agent shall promptly notify each Lender thereof. Any partial reduction shall be in an amount of
$5,000,000 or a whole multiple thereof and shall reduce permanently the total amount of the
Commitments, together with a corresponding reduction in the aggregate amount of each Lender’s
applicable Commitment. The Commitments once terminated or reduced may not be reinstated. Each
reduction of the Commitments shall be made ratably among the Lenders in accordance with their
Commitments (except for in connection with the termination of this Agreement as to any Lender
pursuant to Section 10.13).

     Section 2.07 Optional Prepayments.

          (a) The Borrower may, at its option, as provided in this Section 2.07, at any time and
from time to time prepay the Loans payable by the Borrower, in whole or

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in part, upon notice to the Administrative Agent (and, in the case of prepayments of
Swingline Loans, the Swingline Lender), specifying (i) the date and amount of prepayment,
and (ii) the respective amounts to be prepaid in respect of such Loans. Upon receipt of
such prepayment notice, the Administrative Agent shall promptly notify each Lender thereof.
The payment amount specified in such notice shall be due and payable on the date specified.
All prepayments pursuant to this Section 2.07 shall include accrued interest on the amount
prepaid to the date of prepayment and, in the case of prepayments of Eurodollar Loans, any
amounts payable pursuant to Section 2.21. The Loans shall also be subject to prepayment as
provided in Section 2.06, Section 2.08 and Section 10.13.

          (b) Partial optional prepayments pursuant to this Section 2.07 shall be in an aggregate
principal amount of $5,000,000 or any whole multiple of $1,000,000 in excess thereof. All
prepayments of Loans pursuant to this Section 2.07 shall be without the payment by the
Borrower of any premium or penalty except for amounts payable pursuant to Section 2.21.

Section 2.08 Mandatory Prepayments.

          (a) If at any time the total Credit Exposures of the Lenders exceeds the sum of the
total Commitments, the Borrower shall prepay the Loans owing by it to such Lenders in an
amount equal to such excess. Each prepayment of Loans pursuant to this Section 2.08 shall
be accompanied by payment of accrued interest on the amount prepaid to the date of
prepayment and, in the case of prepayments of Eurodollar Loans, any amounts payable pursuant
to Section 2.21.

          (b) If, after all Loans have been prepaid pursuant to this Section 2.08, any such
excess remains as a result of LC Exposure, the Borrower shall provide cash collateral to
cover any such excess caused by LC Exposure.

Section 2.09 Commitment Increases.

          (a) So long as no Default or Event of Default has occurred and is continuing, the
Borrower may request from time to time after the Effective Date, that the aggregate amount
of the Lenders’ Commitments be increased (each a “Commitment Increase”) by delivering a
Notice of Commitment Increase; provided, however, that:

          (i) no Lender’s Commitment may ever be increased without its prior written consent;

          (ii) any Notice of Commitment Increase must be given no later than three (3) Business
Days prior to the Revolving Commitment Termination Date;

          (iii) the effective date of any Commitment Increase (the “Commitment Increase Effective
Date”) shall be no earlier than three (3) Business Days after receipt by the Administrative
Agent of such Notice of Commitment Increase;

          (iv) the amount of any Commitment Increase must be at least $10,000,000; and

27

 

          (v) after giving effect to any requested Commitment Increase, the aggregate amount of
the Commitments shall not exceed $1,000,000,000.

          (b) On each Commitment Increase Effective Date, so long as no Default or Event of
Default has occurred and is continuing, each of the conditions set forth in Section 7.02 are
satisfied as of such Commitment Increase Effective Date and no Material Adverse Change shall
exist as of such date, each Commitment Increase shall become effective on its Commitment
Increase Effective Date and upon such effectiveness:

          (i) the Administrative Agent shall record in the Register each CI Lender’s information,
if necessary, as provided in the Notice of Commitment Increase and pursuant to an
Administrative Questionnaire that shall be completed and delivered by each CI Lender to the
Administrative Agent on or before the Commitment Increase Effective Date;

          (ii) the Administrative Agent shall distribute to each Lender (including each CI
Lender) a copy of the Annex I attached to the Notice of Commitment Increase relating to such
Commitment Increase;

          (iii) each CI Lender identified on the Notice of Commitment Increase for such
Commitment Increase shall be a “Lender” for all purposes under this Agreement;

          (iv) to the extent there are Revolving Loans outstanding as of such date:

          (A) each CI Lender shall, by wire transfer of immediately available funds,
deliver to the Administrative Agent such CI Lender’s New Funds Amount for the
applicable Commitment Increase Effective Date, which amount, for each such CI
Lender, shall constitute Revolving Loans made by such CI Lender to the Borrower
pursuant to this Agreement on such Commitment Increase Effective Date; and

          (B) the Administrative Agent shall, by wire transfer of immediately available
funds, pay to each then Reducing Percentage Lender its Reduction Amount for such
Commitment Increase Effective Date, which amount, for each such Reducing Percentage
Lender, shall constitute a prepayment by the Borrower pursuant to Section 2.07,
ratably in accordance with the respective principal amounts thereof, of the
principal amounts of all then outstanding Revolving Loans of such Reducing
Percentage Lender; and

          (v) To the extent there is any Letter of Credit outstanding as of such Commitment
Increase Effective Date, each CI Lender shall be deemed to have acquired, and each Reducing
Percentage Lender shall be deemed to have transferred, such portions of the existing
participations in such Letter of Credit as shall cause the participations therein of all
Lenders to be pro rata in accordance with the Applicable Percentages of all

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Lenders on such Commitment Increase Effective Date (after giving effect to the
Commitment Increases of all Lenders).

Section 2.10 Interest.

          (a) Each Eurodollar Loan shall bear interest for each day during each Interest Period
with respect thereto on the unpaid Principal Amount thereof at a rate per annum equal to the
LIBO Rate for such Interest Period plus the Eurodollar Margin for such day. Each Alternate
Base Rate Loan shall bear interest on the unpaid Principal Amount thereof at a fluctuating
rate per annum equal to the Alternate Base Rate plus the Base Rate Margin. Each Swingline
Loan shall bear interest on the unpaid Principal Amount of such Loan at a rate per annum
equal to the rate determined for such Swingline Loan as provided in Schedule III.
Upon the occurrence and continuance of any Event of Default occurring pursuant to Section
8.01(a), Section 8.01(f) or Section 8.01(g), all Loans outstanding and such overdue amount,
in the case of a failure to pay amounts when due, shall automatically bear interest (as well
after as before judgment), at a rate per annum which is two percent (2%) above the rate
which would otherwise be applicable to such Loan pursuant to whichever of the three
preceding sentences shall apply (the “Post-Default Rate”) until paid in full. Upon the
occurrence and continuance of any Event of Default other than those listed in the previous
sentence, all Loans outstanding shall bear interest at the Post-Default Rate upon the
written election of the Required Lenders. Interest shall be payable in arrears on each
Interest Payment Date; provided, however, that interest payable on overdue principal shall
be payable on demand.

          (b) Each Borrowing initially shall be of the Type specified in the applicable Borrowing
Request and, in the case of a Eurodollar Loan, shall have an initial Interest Period as
specified in such Borrowing Request. Thereafter, the Borrower may elect to continue such
Borrowing to a different Type or to continue such Borrowing for an additional Interest
Period (and elect Interest Periods therefor), all as provided in this Section. The Borrower
may elect different options with respect to different portions of the affected Borrowing, in
which case each such portion shall be allocated ratably among the Lenders holding the Loans
comprising such Borrowing, and the Loans comprising each such portion shall then and
thereafter be considered a separate Borrowing. This Section, as it refers to Types of
Loans, shall not apply to Swingline Loans, which may not be converted or continued.

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

          (d) Each telephonic and written Interest Election Request shall identify the Borrower
and specify the following information in compliance with Section 2.03:

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          (i) the Borrowing to which such Interest Election Request applies and, if different
options are being elected with respect to different portions thereof, the portions thereof
to be allocated to each resulting Borrowing (in which case the information to be specified
pursuant to clauses (iii) and (iv) below shall be specified for each resulting Borrowing);

          (ii) the effective date of the election made pursuant to such Interest Election
Request, which shall be a Business Day;

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

          (iv) if the resulting Borrowing is a Eurodollar Borrowing, the Interest Period to be
applicable thereto after giving effect to such election, which shall be a period
contemplated by the definition of the term “Interest Period.”

          (e) If any such Interest Election Request requests a Eurodollar Borrowing but does not
specify an Interest Period, then the Borrower shall be deemed to have selected an Interest
Period of one month’s duration.

          (f) Promptly following receipt of an Interest Election Request, the Administrative
Agent shall advise each Lender of the details thereof and of such Lender’s obligation with
respect to each resulting Borrowing.

          (g) If the Borrower fails to deliver a timely Interest Election Request with respect to
a Eurodollar Loan prior to the end of the Interest Period applicable thereto, then, unless
such Borrowing is repaid as provided herein, at the end of such Interest Period such
Borrowing shall be continued as an Alternate Base Rate Loan. Notwithstanding any contrary
provision hereof, if an Event of Default has occurred and is continuing and the
Administrative Agent, at the request of the Majority Lenders, so notifies the Borrower,
then, so long as such Event of Default is continuing (i) no outstanding Borrowing may be
continued as a Eurodollar Loan, and (ii) unless repaid, each Eurodollar Loan shall be
continued as an Alternate Base Rate Loan at the end of the Interest Period applicable
thereto.

Section 2.11 Computation of Interest and Fees.

          (a) Interest on Alternate Base Rate Loans, Swingline Loans and fees shall be calculated
on the basis of a 365- (or 366- as the case may be) day year for the actual days elapsed.
Interest on Eurodollar Loans shall be calculated on the basis of a 360-day year for the
actual days elapsed. The Administrative Agent shall notify the Borrower and the Lenders of
each determination of a LIBO Rate and of the interest rate applicable to each Swingline
Loan. Any change in the interest rate resulting from a change in the Alternate Base Rate
shall become effective as of the opening of business on the day on which such change in the
applicable rate shall become effective. The Administrative Agent shall notify the Borrower
and the Lenders of the effective date and the amount of each such change in the Alternative
Base Rate.

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          (b) The Administrative Agent shall, at the request of the Borrower, deliver to the
Borrower a statement showing the computations used by the Administrative Agent in
determining any interest rate pursuant to Section 2.11(a).

Section 2.12 Funding of Borrowings.

          (a) Each Lender shall make each Loan to be made by it hereunder on the proposed
Borrowing Date thereof by wire transfer of immediately available funds by 12:00 p.m., New
York City time, to the account of the Administrative Agent most recently designated by it
for such purpose by notice to the Lenders; provided that Swingline Loans shall be made as
provided in Section 2.22. The Administrative Agent will make such Loans available to the
Borrower by promptly crediting the amounts so received, in like funds, to an account of the
Borrower designated by the Borrower in the applicable Borrowing Request; provided that
Alternate Base Rate Loans made to finance the reimbursement of an LC Disbursement as
provided in Section 2.05(e) shall be remitted by the Administrative Agent to the Issuing
Bank.

          (b) Unless the Administrative Agent shall have received notice from a Lender prior to
the proposed time of any Borrowing that such Lender will not make available to the
Administrative Agent such Lender’s share of such Borrowing, the Administrative Agent may
assume that such Lender has made such share available on such date in accordance with
Section 2.12(a) and may, in reliance upon such assumption, make available to the Borrower a
corresponding amount. In such event, if a Lender has not in fact made its share of the
applicable Borrowing available to the Administrative Agent, then each such Lender and the
Borrower severally agree to pay to the Administrative Agent forthwith on demand such
corresponding amount with interest thereon, for each day from and including the date such
amount is made available to the Borrower to but excluding the date of payment to the
Administrative Agent, at (i) in the case of such Lender, the greater of the cost incurred by
the Administrative Agent for making such Lender’s share of such Borrowing and a rate
determined by the Administrative Agent in accordance with banking industry rules on
interbank compensation, or (ii) in the case of the Borrower, the interest rate applicable to
Alternate Base Rate Loans. If such Lender pays such amount to the Administrative Agent,
then such amount shall constitute such Lender’s Loan included in such Borrowing.

Section 2.13 Pro Rata Treatment and Payments.

          (a) Each Borrowing by the Borrower from the Lenders, each payment (including each
prepayment) by the Borrower on account of the principal of and interest on the Loans and on
account of any fees hereunder, any reimbursement of LC Disbursements, and any reduction of
the Commitments of the Lenders hereunder shall be made pro rata according to the
Commitments, except that (i) payments or prepayments, and offsets against or reductions from
the amount of payments and prepayments, in each case, specifically for the account of a
particular Lender under the terms of Section 2.04, Section 2.09(b), Section 2.14, Section
2.15, Section 2.16, Section 2.21, Section 2.22, Section 10.03 or Section 10.13 shall be made
for the account of such Lender (or the Swingline Lender in the case of Section 2.22), and
(ii) if any Lender shall become a

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Defaulting Lender, from and after the date upon which such Lender shall have become a
Defaulting Lender, any payment made on account of principal of or interest on the Loans
shall be applied in accordance with Section 2.23(b). All payments (including prepayments)
to be made by the Borrower on account of principal, interest, reimbursement of LC
Disbursements and fees shall be made in immediately available funds without setoff or
counterclaim and shall be made to the Administrative Agent on behalf of the Lenders (or on
behalf of the Issuing Bank or the Swingline Lender, as the case may be) at the
Administrative Agent’s office as notified to the Borrower from time to time at least five
(5) Business Days before any change in such office. On the date of this Agreement, the
office of the Administrative Agent is located at Wells Fargo Bank, National Association,
Houston Energy Group, 1000 Louisiana Street, 9th Floor, Houston, TX 77002, Attention of
Christina Faith, Phone No.: (713) 319-1672, Facsimile No.: (713) 739-1087. The
Administrative Agent shall distribute such payments to the Lenders promptly upon receipt in
like funds as received. Reimbursement of all LC Disbursements shall be made as required by
Section 2.05(e).

          (b) If any payment hereunder (other than payments on the Eurodollar Loans) becomes due
and payable on a day other than a Business Day, such payment shall be extended to the next
succeeding Business Day, and with respect to payments of principal, interest thereon shall
be payable at the then applicable rate during such extension. If any payment on a
Eurodollar Loan becomes due and payable on a day other than a Business Day, the maturity
thereof shall be extended to the next succeeding Business Day unless the result of such
extension would be to extend such payment into another calendar month in which event such
payment shall be made on the immediately preceding Business Day.

          (c) Except as provided in Section 2.04(d), Section 2.09(b), Section 2.14, Section 2.15,
Section 2.16, Section 2.21, Section 10.03, Section 10.13, and this Section 2.13, if any
Lender shall, by exercising any right of set-off or counterclaim or otherwise, obtain
payment in respect of any principal of or interest on any of the Loans or participations in
LC Disbursements resulting in such Lender receiving payment of a greater proportion of the
aggregate amount of its Loans and participations in LC Disbursements and accrued interest
thereon than the proportion received by any other Lender (other than, in the case of
Swingline Loans, the Swingline Lender), then the Lender receiving such greater proportion
shall purchase (for cash at face value) participations in the Loans and participations in LC
Disbursements with respect to the Loans and LC Exposure of other Lenders to the extent
necessary so that the benefit of all such payments shall be shared by such Lenders ratably
in accordance with the aggregate amount of principal of and accrued interest on their
respective Loans and participations in LC Disbursements; provided that (i) if any such
participations are purchased and all or any portion of the payment giving rise thereto is
recovered, such participations shall be rescinded and the purchase price restored to the
extent of such recovery, without interest, and (ii) the provisions of this paragraph shall
not be construed to apply to any payment made by the Borrower pursuant to and in accordance
with the express terms of this Agreement or any payment obtained by a Lender as
consideration for the assignment of or sale of a participation in any of its Loans or
participations in LC Disbursements to any assignee or participant, other than to the
Borrower or any Subsidiary or Affiliate thereof

32

 

(as to which the provisions of this paragraph shall apply). The Borrower consents to
the foregoing and agrees, to the extent it may effectively do so under applicable law, that
any Lender acquiring a participation pursuant to the foregoing arrangements may exercise
against the Borrower rights of set-off and counterclaim with respect to such participation
as fully as if such Lender were a direct creditor of the Borrower in the amount of such
participation.

          (d) Unless the Administrative Agent shall have received notice from the Borrower prior
to the date on which any payment is due to the Administrative Agent for the account of the
Lenders or the Issuing Bank hereunder that the Borrower will not make such payment, the
Administrative Agent may assume that the Borrower has made such payment on such date in
accordance herewith and may, in reliance upon such assumption, distribute to the Lenders or
the Issuing Bank, as the case may be, the amount due. In such event, if the Borrower has
not in fact made such payment, then each of the Lenders or the Issuing Bank, as the case may
be, severally agrees to repay to the Administrative Agent forthwith on demand the amount so
distributed to such Lender or the Issuing Bank with interest thereon, for each day from and
including the date such amount is distributed to it to but excluding the date of payment to
the Administrative Agent, at the greater of the cost incurred by the Administrative Agent
for making such distributed amount and a rate determined by the Administrative Agent in
accordance with banking industry rules on interbank compensation.

          (e) If any Lender shall fail to make any payment required to be made by it pursuant to
Section 2.05(d), Section 2.05(e), Section 2.09(b), Section 2.12(b) or Section 2.13(d), then
the Administrative Agent may, in its discretion (notwithstanding any contrary provision
hereof), apply any amounts thereafter received by the Administrative Agent for the account
of such Lender to satisfy such Lender’s obligations under such Sections until all such
unsatisfied obligations are fully paid.

Section 2.14 Increased Cost of Loans.

          (a) If any Change in Law, which:

          (i) does or shall impose, modify or hold applicable any reserve, special deposit,
compulsory loan or similar requirement against assets held by, or deposits or other
liabilities in or for the account of, advances or loans by, or other credit extended by, or
any other acquisition of funds by, any office of such Lender or the Issuing Bank; or

          (ii) does or shall impose on such Lender or the Issuing Bank or the London interbank
market any other condition affecting this Agreement, any Note or the Eurodollar Loans, or
any Letter of Credit or participation therein;

and the result of any of the foregoing is to increase the cost to such Lender of making, continuing
or maintaining any Eurodollar Loan (or of maintaining its obligation to make any such Loan) or to
increase the cost to such Lender or the Issuing Bank of participating in, issuing or maintaining
any Letter of Credit, or to reduce any amount received or receivable by such Lender or the

33

 

Issuing Bank hereunder or under any Note (whether of principal, interest, or otherwise), then, in
any such case, the Borrower shall pay such Lender or the Issuing Bank, as the case may be, upon
written demand being made to the Borrower by such Lender or the Issuing Bank, as the case may be,
such additional amount or amounts which will compensate such Lender or the Issuing Bank, as the
case may be, for such amounts as such Lender or the Issuing Bank reasonably deems to be material
with respect to this Agreement, the Notes, the Letters of Credit, or the Loans hereunder, provided,
however, that if all or any such additional cost would not have been payable, or such reduction
would not have occurred, but for such Lender’s or the Issuing Bank’s decision to designate a new
Eurodollar Lending Office or Domestic Lending Office or refusal to change to another Eurodollar
Lending Office or Domestic Lending Office as provided below, the Borrower shall have no obligation
under this Section 2.14 to compensate such Lender or the Issuing Bank for such amount. Such demand
shall be accompanied by a certificate of a duly authorized officer of such Lender or the Issuing
Bank setting forth the amount of such payment and the basis therefor. Each Lender or the Issuing
Bank shall also give written notice to the Borrower and the Administrative Agent of any event
occurring after the date of this Agreement which would entitle such Lender or the Issuing Bank to
compensation pursuant to this Section 2.14 as promptly as practicable after it obtains knowledge
thereof and determines to request such compensation and will designate a different Eurodollar
Lending Office or a Domestic Lending Office if such designation will avoid the need for, or reduce
the amount of, such compensation and will not, in the sole opinion of such Lender, be
disadvantageous to such Lender. Notwithstanding the foregoing, in the event that any Lender or
Issuing Bank shall demand payment pursuant to this Section 2.14, the Borrower may, upon at least
two (2) Business Days’ notice to the Administrative Agent and such Lender, continue in whole (but
not in part) the Eurodollar Loans of such Lender into Alternate Base Rate Loans without regard to
the requirements of Section 2.10.

          (b) If any Lender or the Issuing Bank shall have reasonably determined that the
adoption after the date of this Agreement of any law, rule or regulation regarding capital
adequacy, or any change therein or in the interpretation or application thereof after the
date of this Agreement or compliance by any Lender or the Issuing Bank with any request or
directive regarding capital adequacy (whether or not having the force of law) from any
central bank or other Governmental Authority made or issued after the date of this
Agreement, does or shall have the effect of reducing the rate of return on such Lender’s or
the Issuing Bank’s capital, or in the capital of such Lender’s or Issuing Bank’s holding
company, if any, as a consequence of its obligations hereunder to a level below that which
such Lender or the Issuing Bank, or such Lender’s or the Issuing Bank’s holding company,
could have achieved but for such adoption, change or compliance (taking into consideration
such Lender’s or the Issuing Bank’s policies and the policies of such Lender’s or the
Issuing Bank’s holding company with respect to capital adequacy) by an amount reasonably
deemed by such Lender to be material, then from time to time, after submission by such
Lender or the Issuing Bank to the Borrower (with a copy to the Administrative Agent) of a
written request therefor, the Borrower shall pay to such Lender or the Issuing Bank such
additional amount or amounts as will compensate such Lender or the Issuing Bank for such
reduction from and after such date the Borrower receives the request; provided, however,
that the foregoing shall not apply to any capital adequacy requirement imposed solely by
reason of any business combination effected after the date hereof.

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          (c) A certificate of a Lender or the Issuing Bank setting forth the amount or amounts
necessary to compensate such Lender or the Issuing Bank or its holding company, as the case
may be, as specified in paragraph (a) or (b) of this Section 2.14 shall be delivered to the
Borrower and shall be prima facie evidence of the amount of such payment. The Borrower
shall pay such Lender or the Issuing Bank, as the case may be, the amount shown as due on
any such certificate within ten (10) days after receipt thereof.

          (d) Failure or delay on the part of any Lender or the Issuing Bank to demand
compensation pursuant to this Section 2.14 shall not constitute a waiver of such Lender’s or
the Issuing Bank’s right to demand such compensation; provided that the Borrower shall not
be required to compensate a Lender or the Issuing Bank pursuant to this Section 2.14 for any
increased costs or reductions incurred more than 270 days prior to the date that such Lender
or the Issuing Bank, as the case may be, notifies the Borrower of the change in law giving
rise to such increased costs or reductions and of such Lender’s or the Issuing Bank’s
intention to claim compensation therefor; provided further that, if the change in law giving
rise to such increased costs or reductions is retroactive, then the 270-day period referred
to above shall be extended to include the period of retroactive effect thereof.

     Section 2.15 Illegality. Notwithstanding anything herein contained, if any Lender shall make a
good faith determination that a Change in Law shall make it unlawful for such Lender to give effect
to its obligations to make, continue or maintain its Eurodollar Loans under this Agreement, the
obligation of such Lender to make, continue or maintain Eurodollar Loans hereunder shall be
suspended for the duration of such illegality. Such Lender, by written notice to the
Administrative Agent and the Borrower, shall declare that such Lender’s obligation to make
Eurodollar Loans and to, continue and maintain Eurodollar Loans shall be suspended, and the
Borrower, on the last day of the then current Interest Period applicable to such Eurodollar Loans
or portion thereof or, if such Lender so requests, on such earlier date as may be required by
relevant law, shall continue such Eurodollar Loans or portion thereof as Alternate Base Rate Loans
without regard to the requirements of Section 2.10. If and when such illegality ceases to exist,
such suspension shall cease and such Lender shall notify the Borrower and the Administrative Agent
thereof and any Loans previously continued from Eurodollar Loans to Alternate Base Rate Loans
pursuant to this Section 2.15 shall be continued as Loans of Types corresponding to the Loans
maintained by the other Lenders on the last day of the Interest Period of the corresponding
Eurodollar Loans of such other Lenders.

     Section 2.16 Taxes.

          (a) Any and all payments by or on account of any obligation of the Borrower under each
Loan Document shall be made free and clear of and without deduction or withholding for any
Indemnified Taxes or Other Taxes; provided that if the Borrower shall be required to deduct
or withhold any Indemnified Taxes or Other Taxes from such payments, then (i) the sum
payable shall be increased as necessary so that after making all required deductions or
withholding (including deductions or withholding applicable to additional sums payable under
this Section), the Administrative Agent, any Lender or the Issuing Bank (as the case may be)
receives an amount equal to the sum it

35

 

would have received had no such deductions or withholding been made, (ii) the Borrower
shall make such deductions or withholding, and (iii) the Borrower shall pay the full amount
deducted or withheld to the relevant Governmental Authority in accordance with applicable
law.

          (b) In addition, the Borrower shall pay any Other Taxes to the relevant Governmental
Authority in accordance with applicable law.

          (c) The Borrower shall indemnify the Administrative Agent, each Lender and the Issuing
Bank, within ten (10) days after written demand therefor, for the full amount of any
Indemnified Taxes or Other Taxes paid by the Administrative Agent, such Lender or the
Issuing Bank, as the case may be, on or with respect to any payment by or on account of any
obligation of the Borrower under each Loan Document (including Indemnified Taxes or Other
Taxes imposed or asserted on or attributable to amounts payable under this Section) and any
penalties, interest and reasonable expenses arising therefrom or with respect thereto,
whether or not such Indemnified Taxes or Other Taxes were correctly or legally imposed or
asserted by the relevant Governmental Authority. A certificate as to the amount of such
payment or liability delivered to the Borrower by a Lender or the Issuing Bank, or by the
Administrative Agent on its own behalf or on behalf of a Lender or the Issuing Bank, shall
be conclusive absent manifest error. Notwithstanding anything herein to the contrary, none
of the Administrative Agent, any Lender or Issuing Bank shall be indemnified for any
Indemnified Taxes or Other Taxes hereunder unless the Administrative Agent, such Lender or
Issuing Bank shall make written demand on Borrower for such reimbursement no later than 270
days after the earlier of (i) the date on which the relevant Governmental Authority makes
written demand upon the Administrative Agent, such Lender or Issuing Bank for payment of
such Indemnified Taxes or Other Taxes, and (ii) the date on which the Administrative Agent,
such Lender or Issuing Bank has made payment of such Indemnified Taxes or Other Taxes;
provided that if the Indemnified Taxes or Other Taxes imposed or asserted giving rise to
such claims are retroactive, then the 270-day period referred to above shall be extended to
include the period of retroactive effect thereof.

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

          (e) Any Foreign Lender that is entitled to an exemption from or reduction of
withholding tax under the law of the jurisdiction in which the Borrower is located, or any
treaty to which such jurisdiction is a party, with respect to payments under this Agreement
shall deliver to the Borrower (with a copy to the Administrative Agent), at the time or
times prescribed by applicable law, such properly completed and executed documentation
prescribed by applicable law or reasonably requested by the Borrower as will permit such
payments to be made without withholding or with withholding at a reduced rate. In addition,
each Lender that is not (i) a Foreign Lender or (ii) an “exempt

36

 

recipient” that is either (A) a corporation described in U.S. Treasury Regulation
Section 1.6049-4(c)(1)(ii)(A)(1) or (B) a financial institution described in U.S. Treasury
Regulation Section 1.6049-4(c)(1)(ii)(M) (provided that the Lender is reasonably
identifiable as a financial institution pursuant to the last two sentences of subparagraph
(M)), agrees to provide Borrower with such form or forms, including IRS Form W-9, as may be
required under the Code, or other laws of the United States or reasonably requested by
Borrower, as a condition to exemption from, United States backup withholding before
receiving its first payment under this Agreement and at any other time reasonably requested
by Borrower.

               (f) For any period during which a Lender has failed to provide the Borrower with the
appropriate documentation as required by Section 2.16(e), the Borrower shall not be
obligated to pay, and such Lender shall not be entitled to secure additional amounts under
this Section 2.16 with respect to Indemnified Taxes imposed by a Governmental Authority to
the extent that such additional amounts would not have arisen but for such failure of such
Lender.

               (g) If the Administrative Agent or a Lender determines, in its sole discretion, that it
has received a refund of any Taxes or Other Taxes as to which it has been indemnified by the
Borrower or with respect to which the Borrower has paid additional amounts pursuant to this
Section 2.16, it shall pay over such refund to the Borrower (but only to the extent of
indemnity payments made, or additional amounts paid, by the Borrower under this Section 2.16
with respect to the Taxes or Other Taxes giving rise to such refund), net of all
out-of-pocket expenses of the Administrative Agent or such Lender and without interest
(other than any interest paid by the relevant Governmental Authority with respect to such
refund); provided, however, that the Borrower, upon the request of the Administrative Agent
or such Lender, agrees to forthwith repay the amount paid over to the Borrower (plus any
penalties, interest or other charges imposed by the relevant Governmental Authority) to the
Administrative Agent or such Lender in the event the Administrative Agent or such Lender is
required to repay such refund to such Governmental Authority. Nothing contained in this
Section 2.16 shall require the Administrative Agent or any Lender to make available its tax
returns (or any other information relating to its taxes which it deems confidential) to the
Borrower or any other Person.

               (h) If the Borrower is required to pay any additional amount to any Lender or any
Governmental Authority for the account of any Lender pursuant to Section 2.16(a), then such
Lender shall use reasonable efforts to designate a different lending office for funding or
booking its Loans hereunder or to assign its rights and obligations hereunder to another of
its offices, branches or affiliates, if, in the judgment of such Lender, such designation or
assignment (a) would eliminate or reduce amounts payable pursuant to Section 2.16(a), in the
future and (b) would not subject such Lender to any unreimbursed cost or expense and would
not otherwise be disadvantageous to such Lender. The Borrower hereby agrees to pay all
reasonable costs and expenses incurred by any Lender in connection with any such designation
or assignment.

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               (i) If a payment made to a Lender or other payee under any Loan Document would be
subject to U.S. federal withholding Tax imposed by FATCA if such Lender or other payee were
to fail to comply with the applicable reporting requirements of FATCA (including those
contained in Section 1471(b) or 1472(b) of the Code, as applicable), such Lender or other
payee shall deliver to the Borrower and the Administrative Agent at the time or times
prescribed by law and at such time or times reasonably requested by the Borrower or the
Administrative Agent such documentation prescribed by applicable law (including as
prescribed by Section 1471(b)(3)(C)(i) of the Code) and such additional documentation
reasonably requested by the Borrower or the Administrative Agent as may be necessary for the
Borrower and the Administrative Agent to comply with their obligations under FATCA and to
determine that such Lender or other payee has complied with such Lender’s or other payee’s
obligations under FATCA or to determine the amount to deduct and withhold from such payment.

     Section 2.17 Substitute Loan Basis. In the event that prior to the commencement of any Interest
Period for any Eurodollar Borrowing the Majority Lenders shall reasonably determine (which
determination shall be final and conclusive and binding upon the Borrower) that (a) by reason of
changes affecting the London Interbank Eurodollar Market, adequate and fair means do not exist for
ascertaining the LIBO Rate for such requested Interest Period, or (b) the LIBO Rate will not
adequately and fairly reflect the cost to such Lenders of making or maintaining their Loans
included in such Borrowing for such Interest Period then, and in any such event, the Administrative
Agent shall forthwith give notice to the Borrower and, (i) unless, on the date upon which such
Eurodollar Loans were to be made, the Borrower notifies the Administrative Agent that it elects not
to borrow on such date, any Eurodollar Loans requested to be made on the first day of such Interest
Period shall be made as Alternate Base Rate Loans, (ii) any Loans that were to have been, on the
first day of such Interest Period, continued as Eurodollar Loans, shall be continued as Alternate
Base Rate Loans on the date upon which such Loans were to have been continued, and (iii) any
outstanding Eurodollar Loans shall be continued, on the last day of the Interest Period applicable
thereto, as Alternate Base Rate Loans on the date upon which such Loans are to be continued. The
Administrative Agent shall give written notice to the Borrower of any event occurring after the
giving of such notice which permits an adequate and fair means of ascertaining the LIBO Rate and
until such notice by the Administrative Agent, no further Eurodollar Loans shall be made or
continued as such, nor shall the Borrower have the right to continue as Eurodollar Loans.

     Section 2.18 Certain Prepayments or Continuations. If the Eurodollar Loans of any Lender are
prepaid or continued as Alternate Base Rate Loans pursuant to Section 2.14 or Section 2.15 (such
Eurodollar Loans being herein called “Affected Loans”), unless and until such Lender gives written
notice that the circumstances which gave rise to such prepayment or continuation no longer exist
(which such Lender agrees to do promptly upon such circumstances ceasing to exist) such Lender
shall not make further Affected Loans and all Loans which would otherwise be made by such Lender
as, or continued by such Lender into, Affected Loans shall be made instead as, or continued as
Alternate Base Rate Loans (on which interest and principal shall be payable simultaneously with the
related Loans of the other Lenders).

     Section 2.19 Certain Notices. Notices by the Borrower under each of Section 2.03, Section 2.05,
Section 2.06, Section 2.07, Section 2.14, Section 2.17, and Section 2.10 and under

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the definition of “Interest Period” in Section 1.01 (a) shall (unless otherwise specifically
provided) be given in writing, by telecopy or by telephone (confirmed promptly in writing), and (b)
shall be effective only if received by the Administrative Agent and, in the case of Section 2.14,
the Lender involved, not later than 11:30 a.m. (New York City time) on the day specified in the
respective Section or definition as the latest day such notice may be given. Notices by the
Borrower under each of Section 2.03, Section 2.05, Section 2.06, Section 2.07, Section 2.14,
Section 2.17, and Section 2.10 shall be irrevocable.

     Section 2.20 Minimum Amounts of Eurodollar Borrowings. All Borrowings and continuations of Loans
hereunder and all selections of Interest Periods hereunder shall be in such amounts and be made
pursuant to such elections so that, after giving effect thereto, the aggregate Principal Amount of
the Loans comprising each Eurodollar Borrowing shall be equal to $5,000,000 or a whole multiple of
$1,000,000 in excess thereof.

     Section 2.21 Break Funding Payments. In the event of (a) the payment of any Principal Amount of
any Eurodollar Loan other than on the last day of an Interest Period applicable thereto (including
as a result of an Event of Default), (b) the continuation of any Eurodollar Loan other than on the
last day of the Interest Period applicable thereto, (c) the failure to borrow, continue or prepay
any Loan on the date specified in any notice delivered pursuant hereto, (d) the assignment of any
Eurodollar Loan other than on the last day of the Interest Period applicable thereto as a result of
a request by the Borrower, then, in any such event, the Borrower shall compensate each Lender or
the Issuing Bank for the loss, cost and expense attributable to such event. In the case of a
Eurodollar Loan, such loss, cost or expense to any Lender shall be deemed to include an amount
determined by such Lender to be the excess, if any, of (i) the amount of interest which would have
accrued on the Principal Amount of such Loan had such event not occurred, at the LIBO Rate (in the
case of a Eurodollar Loan) that would have been applicable to such Loan, for the period from the
date of such event to the last day of the then current Interest Period therefor (or, in the case of
a failure to borrow or continue, for the period that would have been the Interest Period for such
Loan), over (ii) the amount of interest which would accrue on such Principal Amount for such period
at the interest rate which such Lender would bid were it to bid, at the commencement of such
period, for dollar deposits of a comparable amount and period from other banks in the Eurodollar
market. A certificate of any such Lender setting forth any amount or amounts that such Lender is
entitled to receive pursuant to this Section shall be delivered to the Borrower and the
Administrative Agent and shall be conclusive absent manifest error. The Borrower shall pay such
Lender the amount shown as due on any such certificate within ten (10) days after receipt thereof.
Notwithstanding anything to the contrary contained herein, no Lender shall be entitled to receive
any amount or amounts pursuant to this Section if such amount or amounts are attributable solely to
the merger or other consolidation of such Lender with another Lender.

     Section 2.22 Swingline Loans.

               (a) Subject to the terms and conditions set forth herein, the Swingline Lender agrees
to make Swingline Loans to the Borrower from time to time during the Revolving Period, in an
aggregate principal amount at any time outstanding that will not result in (i) the aggregate
principal amount of outstanding Swingline Loans exceeding $50,000,000 or (ii) the total
Credit Exposures exceeding the total Commitments;

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provided that the Swingline Lender shall not be required to make a Swingline Loan to
refinance an outstanding Swingline Loan. Within the foregoing limits and subject to the
terms and conditions set forth herein, the Borrower may borrow, prepay and reborrow
Swingline Loans.

               (b) To request a Swingline Loan, the Borrower shall notify the Administrative Agent of
such request by telephone (confirmed by facsimile), not later than 3:00 p.m., New York City
time, on the day of a proposed Swingline Loan. Each such notice shall be irrevocable and
shall specify the Borrower, the requested date (which shall be a Business Day) and amount of
the requested Swingline Loan. The Administrative Agent will promptly advise the Swingline
Lender of any such notice received from the Borrower. The Swingline Lender shall make each
Swingline Loan available to the Borrower by means of a credit to the general deposit account
of the Borrower with the Swingline Lender (or, in the case of a Swingline Loan made to
finance the reimbursement of an LC Disbursement as provided in Section 2.05(e), by
remittance to the Issuing Bank) by 3:00 p.m., New York City time, on the requested date of
such Swingline Loan.

               (c) The Swingline Lender may by written notice given to the Administrative Agent not
later than 10:00 a.m., New York City time, on any Business Day require the Lenders to
acquire participations on such Business Day in all or a portion of the Swingline Loans
outstanding. Such notice shall specify the aggregate amount of Swingline Loans in which
Lenders will participate. Promptly upon receipt of such notice, the Administrative Agent
will give notice thereof to each Lender, specifying in such notice such Lender’s Applicable
Percentage of such Swingline Loan or Loans. Each Lender hereby absolutely and
unconditionally agrees, upon receipt of notice as provided above, to pay to the
Administrative Agent, for the account of the Swingline Lender, such Lender’s Applicable
Percentage of such Swingline Loan or Loans. Each Lender acknowledges and agrees that its
obligation to acquire participations in Swingline Loans pursuant to this paragraph is
absolute and unconditional and shall not be affected by any circumstance whatsoever,
including the occurrence and continuance of a Default or Event of Default or reduction or
termination of the Commitments, and that each such payment shall be made without any offset,
abatement, withholding or reduction whatsoever. Each Lender shall comply with its
obligation under this paragraph by wire transfer of immediately available funds, in the same
manner as provided in Section 2.12 with respect to Loans made by such Lender (and Section
2.12 shall apply, mutatis mutandis, to the payment obligations of the Lenders), and the
Administrative Agent shall promptly pay to the Swingline Lender the amounts so received by
it from the Lenders. The Administrative Agent shall notify the Borrower of any
participations in any Swingline Loan acquired pursuant to this paragraph, and thereafter
payments in respect of such Swingline Loan shall be made to the Administrative Agent and not
to the Swingline Lender. Any amounts received by the Swingline Lender from the Borrower (or
other party on behalf of the Borrower) in respect of a Swingline Loan after receipt by the
Swingline Lender of the proceeds of a sale of participations therein shall be promptly
remitted to the Administrative Agent; any such amounts received by the Administrative Agent
shall be promptly remitted by the Administrative Agent to the Lenders that shall have made
their payments pursuant to this paragraph and to the Swingline Lender, as

40

 

their interests may appear; provided that any such payment so remitted shall be repaid
to the Swingline Lender or to the Administrative Agent, as applicable, if and to the extent
such payment is required to be refunded to the Borrower for any reason. The purchase of
participations in a Swingline Loan pursuant to this paragraph shall not relieve the Borrower
of any default in the payment thereof.

     Section 2.23 Defaulting Lenders. Notwithstanding anything to the contrary contained in this
Agreement, if any Lender becomes a Defaulting Lender, then, until such time as such Lender is no
longer a Defaulting Lender, to the extent permitted by Applicable Law:

               (a) Waivers and Amendments. Such Defaulting Lender’s right to approve or
disapprove any amendment, waiver or consent with respect to this Agreement shall be
restricted as set forth in Section 10.02.

               (b) Reallocation of Payments. Any payment of principal, interest, fees or
other amounts received by the Administrative Agent for the account of such Defaulting Lender
(whether voluntary or mandatory, at maturity, or otherwise, and including any amounts made
available to the Administrative Agent for the account of such Defaulting Lender pursuant to
Section 10.08), shall be applied at such time or times as may be determined by the
Administrative Agent as follows: first, to the payment of any amounts owing by such
Defaulting Lender to the Administrative Agent hereunder; second, to the payment on a
pro rata basis of any amounts owing by such Defaulting Lender to the Issuing Bank and/or the
Swingline Lender hereunder; third, if so determined by the Administrative Agent or
requested by the Issuing Bank and/or the Swingline Lender, to be held as cash collateral for
future funding obligations of such Defaulting Lender of any participation in any Swingline
Loan or Letter of Credit; fourth, as the Borrower may request (so long as no Default
or Event of Default exists), to the funding of any Loan in respect of which such Defaulting
Lender has failed to fund its portion thereof as required by this Agreement, as determined
by the Administrative Agent; fifth, if so determined by the Administrative Agent and
the Borrower, to be held in a non-interest bearing deposit account and released in order to
satisfy obligations of such Defaulting Lender to fund Loans under this Agreement;
sixth, to the payment of any amounts owing to the Administrative Agent, the Lenders,
the Issuing Bank or the Swingline Lender as a result of any judgment of a court of competent
jurisdiction obtained by the Administrative Agent, any Lender, the Issuing Bank or the
Swingline Lender against such Defaulting Lender as a result of such Defaulting Lender’s
breach of its obligations under this Agreement; seventh, so long as no Default or
Event of Default exists, to the payment of any amounts owing to the Borrower as a result of
any judgment of a court of competent jurisdiction obtained by the Borrower against such
Defaulting Lender as a result of such Defaulting Lender’s breach of its obligations under
this Agreement; and eighth, to such Defaulting Lender or as otherwise directed by a
court of competent jurisdiction; provided that if (i) such payment is a payment of the
principal amount of any Revolving Loans or funded participations in Swingline Loans or
Letters of Credit in respect of which such Defaulting Lender has not fully funded its
appropriate share and (ii) such Revolving Loans or funded participations in Swingline Loans
or Letters of Credit were made at a time when the conditions set forth in Section 7.02 were
satisfied or waived, such payment shall be applied solely to pay the Revolving Loans of,

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and funded participations in Swingline Loans or Letters of Credit owed to, all
non-Defaulting Lenders on a pro rata basis prior to being applied to the payment of any
Revolving Loans of, or funded participations in Swingline Loans or Letters of Credit owed
to, such Defaulting Lender. Any payments, prepayments or other amounts paid or payable to a
Defaulting Lender that are applied (or held) to pay amounts owed by a Defaulting Lender or
to post cash collateral pursuant to this Section 2.23(b) shall be deemed paid to and
redirected by such Defaulting Lender, and each Lender irrevocably consents hereto.

               (c) Reallocation of Applicable Percentages to Reduce Fronting Exposure. During
any period in which there is a Defaulting Lender, for purposes of computing the amount of
the obligation of each non-Defaulting Lender to acquire, refinance or fund participations in
Letters of Credit or Swingline Loans pursuant to Section 2.05 and Section 2.22, the
Applicable Percentage of each non-Defaulting Lender shall be computed without giving effect
to the Commitment of such Defaulting Lender; provided that (i) each such reallocation shall
be given effect only if, at the date the applicable Lender becomes a Defaulting Lender, no
Default or Event of Default exists and (ii) the aggregate obligation of each non-Defaulting
Lender to acquire, refinance or fund participations in Letters of Credit and Swingline Loans
shall not exceed the positive difference, if any, of (A) the Commitment of that
non-Defaulting Lender minus (B) the aggregate outstanding principal amount of the Revolving
Loans of that Lender.

               (d) Certain Fees. For any period during which such Lender is a Defaulting
Lender, such Defaulting Lender (i) shall not be entitled to receive any Facility Fee
pursuant to Section 2.04 (and the Borrower shall not be required to pay any such fee that
otherwise would have been required to have been paid to such Defaulting Lender) and (ii)
shall not be entitled to receive any LC Fees pursuant to Section 2.04 otherwise payable to
the account of a Defaulting Lender with respect to any Letter of Credit as to which such
Defaulting Lender has not provided cash collateral or other credit support arrangements
satisfactory to the Issuing Bank pursuant to this Section 2.23, but instead, the Borrower
shall pay to the non-Defaulting Lenders the amount of such LC Fees in accordance with the
upward adjustments in their respective Applicable Percentages allocable to such Letter of
Credit pursuant to Section 2.23(c), with the balance of such LC Fee, if any, payable to the
Issuing Bank for its own account.

               (e) Defaulting Lender Cure. If the Borrower, the Administrative Agent, the
Swingline Lender and the Issuing Bank agree in writing in their sole discretion that a
Defaulting Lender should no longer be deemed to be a Defaulting Lender, the Administrative
Agent will so notify the parties hereto, whereupon as of the date specified in such notice
and subject to any conditions set forth therein (which may include arrangements with respect
to any cash collateral), that Lender will, to the extent applicable, purchase that portion
of outstanding Revolving Loans of the other Lenders or take such other actions as the
Administrative Agent may determine to be necessary to cause the Revolving Loans and funded
and unfunded participations in Letters of Credit and Swingline Loans to be held on a pro
rata basis by the Lenders in accordance with their Applicable Percentages (without giving
effect to Section 2.23(c)), whereupon such Lender will cease to be a Defaulting Lender;
provided that no adjustments will be made

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retroactively with respect to fees accrued or payments made by or on behalf of the
Borrower while such Lender was a Defaulting Lender; and provided, further, that except to
the extent otherwise expressly agreed by the affected parties, no change hereunder from
Defaulting Lender to Lender will constitute a waiver or release of any claim of any party
hereunder arising from such Lender’s having been a Defaulting Lender.

ARTICLE III

REPRESENTATIONS AND WARRANTIES

     Section 3.01 Representations of the Borrower. The Borrower represents and warrants to the
Administrative Agent, the Lenders and the Issuing Bank that:

               (a) The Borrower and each Subsidiary has been duly formed and is validly existing and
in good standing under the laws of the jurisdiction of its organization and (ii) the
Borrower and each Subsidiary is qualified to do business as a foreign entity and is in good
standing in each jurisdiction of the United States in which the ownership of its properties
or the conduct of its business requires such qualification and where the failure to so
qualify would constitute a Material Adverse Change.

               (b) This Agreement, the Transactions and all other Loan Documents to which the Borrower
or any Subsidiary is a party have been duly authorized, executed and delivered by the
Borrower or such Subsidiary, and each of this Agreement, its Notes and the other Loan
Documents to which it is a party constitutes a valid and binding agreement of the Borrower,
enforceable in accordance with its respective terms, subject to the effect of applicable
bankruptcy, insolvency or similar laws affecting creditors’ rights generally and equitable
principals of general applicability. The Borrower’s Notes have been duly authorized by the
Borrower and, when executed, issued and delivered pursuant hereto for value received, will
constitute valid and binding obligations of the Borrower, enforceable in accordance with
their terms, except as (i) may be limited by bankruptcy, insolvency or similar laws
affecting creditors’ rights generally, and (ii) rights of acceleration and the availability
of equitable remedies may be limited by equitable principles of general applicability.
There are no actions, suits or proceedings pending or, to the knowledge of the Borrower or
any Subsidiary, threatened against the Borrower or any Subsidiary which purports to affect
the legality, validity or enforceability of this Agreement, any other Loan Document or any
of their respective Notes.

               (c) The execution, delivery and performance of each Loan Document by the Borrower and
its Subsidiaries will not violate or conflict with (i) the organizational documents of the
Borrower or any Subsidiary, as in effect on the Effective Date, or (ii) any indenture, loan
agreement or other similar agreement or instrument binding on the Borrower or any
Subsidiary.

               (d) The Borrower and its Subsidiaries are in compliance with all laws, rules,
regulations, orders, decrees and requirements of any Governmental Authority applicable to
them or their properties, except where the necessity of compliance therewith is being
contested in good faith by appropriate proceedings or such failure to comply

43

 

would not have or would not reasonably be expected to cause a Material Adverse Change.

               (e) On the Effective Date there are no actions, suits, proceedings or investigations
pending or, to the knowledge of the Borrower, threatened against the Borrower or any
Subsidiary before any Governmental Authority as to which, in the opinion of the Borrower,
there is a reasonable possibility of an adverse determination and that, if adversely
determined, could reasonably be expected, individually or in the aggregate, to constitute a
Material Adverse Change.

               (f) The consolidated balance sheets of the Borrower (and its predecessor entity) and
its consolidated Subsidiaries as of December 31, 2010, and the related consolidated
statements of income, partners’ (or stockholders’) equity and cash flows for each of the
years in the three-year period ended December 31, 2010, audited by KPMG LLP, present fairly,
in all material respects, the consolidated financial position of the Borrower and its
consolidated Subsidiaries as of December 31, 2010, and the results of their operations and
their cash flows for each of the years in the three-year period ended December 31, 2010, in
conformity with GAAP applied on a consistent basis.

               (g) There has been no Material Adverse Change.

               (h) Neither the Borrower nor any Subsidiary is an “investment company” as defined in,
or subject to regulation under, the Investment Company Act of 1940.

               (i) No ERISA Event has occurred or is reasonably expected to occur that, when taken
together with all other such ERISA Events for which liability is reasonably expected to
occur, could reasonably be expected to result in a Material Adverse Change. The present
value of all accumulated benefit obligations of all underfunded Plans (based on the
assumptions used for purposes of Statement of Financial Accounting Standards No. 87) did
not, as of the date of the most recent financial statements reflecting such amounts, exceed
the fair market value of the assets of all such underfunded Plans by an amount that could
reasonably be expected to be a Material Adverse Change.

               (j) Neither the Information Memorandum nor any of the other reports, financial
statements, certificates or other information furnished by or on behalf of the Borrower to
the Agents or any Lender in connection with the negotiation of this Agreement or delivered
hereunder (as modified or supplemented by other information so furnished), taken as a whole,
contains any material misstatement of fact or omits to state any material fact necessary to
make the statements therein, in the light of the circumstances under which they were made,
not misleading; provided that, with respect to projected financial information, the Borrower
represents only that such information was prepared in good faith based upon assumptions
believed to be reasonable at the time, it being understood that projections by their nature
are inherently uncertain and no assurances are being given that the results reflected in the
projected financial information will be achieved.

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          (k) On the date hereof, the Borrower’s Subsidiaries are listed on
Schedule II.

          (l) The General Partner has filed all United States Federal income tax returns and
all other material tax returns and reports required to be filed (or obtained extensions with
respect thereto) and has paid all taxes required to have been paid by it, except (i) taxes
the validity of which is being contested in good faith by appropriate proceedings, and with
respect to which the General Partner, to the extent required by GAAP, has set aside on its
books adequate reserves or (ii) to the extent the failure to do so (individually or
collectively) would not reasonably be expected to result in a Material Adverse Change.

          (m) Each of the real properties owned or leased by the Borrower or any of its
Subsidiaries and all their operations at such properties are in compliance with all
applicable Environmental Laws and neither the Borrower nor any of its Subsidiaries has
received any notice regarding violation of any Environmental Law with respect to the
properties or the businesses operated by the Borrower or any of its Subsidiaries, except as
would not reasonably be expected to result in a Material Adverse Change.

          (n) No Event of Default has occurred and is continuing.

          (o) The Borrower and its Subsidiaries are not engaged principally, or as one of its
or their important activities, in the business of extending credit for the purpose, whether
immediate, incidental or ultimate, of buying or carrying margin stock (within the meaning of
the Margin Regulations).

          (p) The Borrower and each of its Subsidiaries is and, after the consummation of the
transactions contemplated by this Agreement, will be “solvent” within the meaning of such
term under the United States Bankruptcy Code.

ARTICLE IV

AFFIRMATIVE COVENANTS

Until all Commitments have expired or been terminated and the principal of and interest on each
Loan and all fees payable hereunder shall have been paid in full, all Letters of Credit shall have
expired or terminated, and all LC Disbursements shall have been reimbursed, the Borrower covenants
and agrees with the Lenders that:

     Section 4.01 Financial Statements and Other Information. The Borrower will furnish to the
Administrative Agent and each Lender:

          (a) Within the period required by applicable law (and concurrently with the filing
thereof with the Commission), copies of the annual reports, information, documents and other
reports (or copies of such portions of any of the foregoing as the Commission may from time
to time by rules and regulations prescribe) which the Borrower may be required to file with
the Commission pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of
1934; or, if the Borrower is not required to file information, documents or reports pursuant
to either of said Sections, then such of the

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supplementary and periodic information, documents and reports which may be required
pursuant to Section 13 of the Securities Exchange Act of 1934 in respect of a security
listed and registered on a national securities exchange as may be prescribed from time to
time in such rules and regulations; provided, however, that the Borrower shall be deemed to
have furnished the information required by this Section 4.01(a) if it shall have timely made
the same available on “EDGAR” on the worldwide web and complied with Section 4.01(e) in
respect thereof; provided further, however, that if any Lender is unable to access EDGAR on
the worldwide web, the Borrower agrees to provide such Lender with paper copies of the
information required to be furnished pursuant to this Section 4.01(a) promptly following
notice from the Administrative Agent that such Lender has requested same.

          (b) Within sixty (60) days after the close of each of the first three quarters of
each fiscal year of the Borrower, a statement by a responsible officer of the Borrower
calculating compliance or non-compliance, as the case may be, with Section 5.01 and Section
5.02 (if applicable) as of the close of such period and stating whether to the knowledge of
the Borrower an event has occurred during such period and is continuing which constitutes an
Event of Default or a Default, and, if so, stating the facts with respect thereto.

          (c) Within one hundred twenty (120) days after the close of each fiscal year of the
Borrower, a statement by a responsible officer of the Borrower calculating compliance or
non-compliance, as the case may be, with Section 5.01 and Section 5.02 (if applicable) as of
the close of such period and stating whether to the knowledge of the Borrower an event has
occurred during such period and is continuing which constitutes an Event of Default or a
Default, and, if so, stating the facts with respect thereto.

          (d) Such other information respecting the financial condition or operations of the
Borrower and its Subsidiaries as the Administrative Agent or any Lender may from time to
time reasonably request.

          (e) Information required to be delivered pursuant to Section 4.01(a) above shall be
deemed to have been delivered on the date on which the Borrower provides notice to the
Administrative Agent that such information has been posted on EDGAR (and the Borrower hereby
agrees to provide such notice).

     Section 4.02 Notices of Material Events. The Borrower will furnish to the Administrative Agent
and each Lender prompt written notice of the following:

          (a) the occurrence of any Event of Default;

          (b) the filing or commencement of any action, suit or proceeding by or before any
arbitrator or Governmental Authority against or affecting the Borrower that if adversely
determined, could reasonably be expected to result in a Material Adverse Change; and

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

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Each notice delivered under this Section 4.02 shall be accompanied by a statement of a Financial
Officer or other executive officer of the Borrower setting forth the details of the event or
development requiring such notice and any action taken with respect thereto.

     Section 4.03 Compliance with Laws. The Borrower will, and will cause each of the Subsidiaries
to, comply with all laws, rules, regulations and orders of any Governmental Authority applicable to
it or its property, except where the necessity of compliance therewith is being contested in good
faith by appropriate proceedings or where the failure to do so, individually or in the aggregate,
could not reasonably be expected to result in a Material Adverse Change.

     Section 4.04 Use of Proceeds.

          (a) The proceeds of the Loans and the Letters of Credit shall be used to refinance
outstanding Indebtedness under the Existing Revolving Credit Agreement and the Existing Term
Loan Agreement and to provide working capital and to provide funding in connection with
capital expenditures, Permitted Acquisitions and other general corporate purposes.

          (b) No part of the proceeds of any Loan or Letter of Credit will be used for any
purpose which violates the Margin Regulations.

     Section 4.05 Maintenance of Property; Insurance.

          (a) The Borrower will keep, and will cause each of its Subsidiaries to keep, all
property useful and necessary in its business in good working order and condition, ordinary
wear and tear excepted, except where the failure to do so could not reasonably be expected
to result in a Material Adverse Change.

          (b) The Borrower will at all times maintain, with financially sound and reputable
insurers, insurance of the kinds, covering the risks and in the relative proportionate
amounts (including as to self-insurance) customarily carried by companies engaged in the
same or similar business and similarly situated; provided that the Borrower shall not be
required to maintain insurance against risks or in amounts no longer economically available
on a de novo or renewal basis, as applicable, to other companies engaged in the same or
similar business and similarly situated.

     Section 4.06 Additional Guarantors. The Borrower shall promptly cause any newly formed or
acquired Wholly Owned Subsidiary to guarantee the Loans made under this Agreement pursuant to the
Guaranty Agreement. In connection with any such guaranty, the Borrower shall, or shall cause each
such Subsidiary to, (a) execute and deliver a supplement to the Guaranty Agreement executed by such
Subsidiary and (b) execute and deliver such other additional closing documents, certificates and
legal opinions as shall reasonably be requested by the Administrative Agent. On the Investment
Grade Rating Date, if no Default or Event of Default has occurred and is continuing, the
Subsidiaries guaranteeing the Indebtedness shall be released of their obligations under the
Guaranty Agreement and this Section 4.06 shall have no further force or effect.

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     Section 4.07 Books and Records; Inspections. The Borrower will keep, and will cause each of
its Subsidiaries to keep, complete and accurate books and records of its transactions in accordance
with good accounting practices on the basis of GAAP (including the establishment and maintenance of
appropriate reserves). The Borrower will, and will cause each of its Subsidiaries to, permit any
representatives designated by the Administrative Agent, upon reasonable prior notice, to visit and
inspect its properties, to examine and make extracts from its books and records, and to discuss its
affairs, finances and condition with its officers and independent accountants, all at such
reasonable times and as often as reasonably requested. In the absence of an Event of Default and
notwithstanding anything to the contrary in Section 10.03, the Borrower shall not be required to
pay for more than one such visit in any year.

     Section 4.08 Payment of Obligations. The Borrower will, and will cause each of its
Subsidiaries to, pay its obligations, including Tax liabilities of the Borrower and all of its
Subsidiaries before the same shall become delinquent or in default, except where (i) the validity
or amount thereof is being contested in good faith by appropriate proceedings, (ii) the Borrower or
such Subsidiary has set aside on its books adequate reserves with respect thereto in accordance
with GAAP and (iii) the failure to make payment pending such contest could not reasonably be
expected to result in a Material Adverse Change.

     Section 4.09 Material Contracts. The Borrower will comply, and will cause its Subsidiaries to
comply, with all contracts necessary for the ongoing operation and business of the Borrower or such
Subsidiary in the ordinary course, except where the failure to comply would not have or would not
reasonably be expected to cause a Material Adverse Change.

ARTICLE V

FINANCIAL COVENANTS

Until all Commitments have expired or been terminated and the principal of and interest on each
Loan and all fees payable hereunder shall have been paid in full, all Letters of Credit shall have
expired or terminated, and all LC Disbursements shall have been reimbursed, the Borrower covenants
and agrees with the Lenders that:

     Section 5.01 Consolidated Leverage Ratio. The Consolidated Leverage Ratio, as at the end of
each fiscal quarter of the Borrower (beginning with the fiscal quarter ending March 31, 2011),
shall be less than or equal to 5.00 to 1.00, except with respect to any fiscal quarter ending in
the 270-day period immediately following a Permitted Acquisition, in which case the Consolidated
Leverage Ratio shall be less than or equal to 5.50 to 1.00.

     Section 5.02 Consolidated Interest Coverage Ratio. The Consolidated Interest Coverage Ratio,
as at the end of each fiscal quarter of the Borrower (beginning with the fiscal quarter ending
March 31, 2011) occurring prior to the Investment Grade Rating Date, shall be greater than or equal
to 2.00 to 1.00. For each fiscal quarter ending on and after the Investment Grade Rating Date, the
Borrower shall have no further obligation to comply with this Section 5.02.

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ARTICLE VI

NEGATIVE COVENANTS

Until all Commitments have expired or been terminated and the principal of and interest on each
Loan and all fees payable hereunder shall have been paid in full, all Letters of Credit shall have
expired or terminated, and all LC Disbursements shall have been reimbursed, the Borrower covenants
and agrees with the Lenders that:

     Section 6.01 Nature of Business. The Borrower will not, nor will it permit its Subsidiaries to
(whether now owned or acquired or formed subsequent to the Effective Date), materially alter the
character of its or their business on a consolidated basis from the midstream energy business.

     Section 6.02 Liens. The Borrower will not create, assume or suffer to exist any Lien on any
asset now owned or hereafter acquired by it or any of its Subsidiaries, except for the following:

          (a) Liens for taxes, assessments or other governmental or quasi-governmental
charges or levies not yet due or which are being contested in good faith by appropriate
proceedings and with respect to which adequate reserves or other appropriate provisions are
being maintained in accordance with GAAP;

          (b) statutory Liens of landlords and Liens of carriers, warehousemen, mechanics,
materialmen and interest owners of oil and gas production and other Liens imposed by law,
created in the ordinary course of business and for amounts not past due for more than 60
days or which are being contested in good faith by appropriate proceedings which are
sufficient to prevent imminent foreclosure of such Liens, are promptly instituted and
diligently conducted and with respect to which adequate reserves or other appropriate
provisions are being maintained in accordance with GAAP;

          (c) Liens incurred or deposits made in the ordinary course of business (including,
without limitation, surety bonds and appeal bonds) in connection with workers’ compensation,
unemployment insurance and other types of social security benefits or to secure the
performance of tenders, bids, leases, contracts (other than for the repayment of
Indebtedness), statutory obligations and other similar obligations or arising as a result of
progress payments under government contracts;

          (d) easements (including, without limitation, reciprocal easement agreements and
utility agreements), rights of way, covenants, consents, reservations, encroachments,
variations and other restrictions, charges or encumbrances (whether or not recorded)
affecting the use of real property;

          (e) Liens with respect to judgments and attachments which do not result in an Event
of Default;

          (f) Liens created pursuant to construction, operating and maintenance agreements,
transportation agreements and other similar agreements and related documents entered into in
the ordinary course of business;

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          (g) Liens, deposits or pledges to secure the performance of bids, tenders,
contracts (other than contracts for the payment of money), leases permitted under the terms
of this Agreement (other than Capital Leases), public or statutory obligations, surety,
stay, appeal, indemnity, performance or other obligations arising in the ordinary course of
business;

          (h) Liens securing obligations under Capital Leases; provided that (i) any such
Liens attach only to the property which is the subject of such Capital Lease, (ii) such
Liens secure only the Indebtedness comprised of such Capital Lease and (iii) the aggregate
Indebtedness being secured by such Liens does not exceed at any one time calculated as of
the date such Capital Lease is created ten percent 10% of Consolidated Net Tangible Assets;

          (i) Liens securing Acquired Indebtedness;

          (j) rights of first refusal entered into in the ordinary course of business;

          (k) Liens consisting of any (i) rights reserved to or vested in any municipality or
governmental, statutory or public authority to control or regulate any property of the
Borrower or any Subsidiary or to use such property, (ii) obligations or duties to any
municipality or public authority with respect to any franchise, grant, license, lease or
permit and the rights reserved or vested in any Governmental Authority or public utility to
terminate any such franchise, grant, license, lease or permit or to condemn or expropriate
any property, or (iii) zoning laws, ordinances or municipal regulations;

          (l) Liens on deposits required by any Person with whom the Borrower or any of its
Subsidiaries enters into forward contracts, futures contracts, swap agreements (including
interest rate swap agreements) or other commodities contracts in the ordinary course of
business;

          (m) Liens arising out of the refinancing, extension, renewal or refunding of any
Indebtedness secured by any Lien permitted by this Section 6.02; provided that the principal
amount of such Indebtedness is not increased (other than to provide for the payment of any
underwriting discounts and fees related to any refinancing Indebtedness as well as any
premiums owed on and accrued and unpaid interest related to the original Indebtedness) and
is not secured by any additional assets; and

          (n) Liens securing other obligations in an amount not to exceed, in the aggregate,
at any one time, calculated as of the date such Lien is incurred, 15% of Consolidated Net
Tangible Assets (and, for purposes of this Section 6.02(n), with respect to any such secured
Indebtedness of a Joint Venture of the Borrower with no recourse to the Borrower or any
Wholly Owned Subsidiary thereof, only that portion of such Indebtedness reflecting the
Borrower’s pro rata ownership interest therein shall be included in calculating compliance
herewith), provided that, if the amount of such other obligations exceeds the amount
specified above, then at the time such Liens to secure such other obligations are granted,
the Loans, LC Exposure and other obligations under

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this Agreement and other Loan Documents shall be secured equally and ratably with such
other obligations.

     Section 6.03 Dispositions. Prior to the Investment Grade Rating Date, the Borrower will not
make, nor permit its Subsidiaries to make any Disposition except:

          (a) Dispositions of inventory in the ordinary course of business;

          (b) Dispositions of machinery and equipment no longer used or useful in the conduct
of business of the Borrower and its Subsidiaries that are Disposed of in the ordinary course
of business;

          (c) Dispositions of assets to the Borrower or a Subsidiary;

          (d) Dispositions of or constituting Investments permitted under Section 6.06;

          (e) Dispositions of accounts receivable in connection with the collection or
compromise thereof;

          (f) Dispositions of licenses, sublicenses, leases or subleases granted to others
not interfering in any material respect with the business of the Borrower and its
Subsidiaries;

          (g) Dispositions of Cash Equivalents for fair market value;

          (h) Dispositions in which: (i) the assets being disposed are used simultaneously in
exchange for replacement assets or (ii) the net proceeds thereof are either (A) reinvested
within 180 days from such Disposition in assets to be used in the ordinary course of the
business of the Borrower and its Subsidiaries and/or (B) used to permanently reduce the
Commitments on a dollar for dollar basis; or

          (i) other Dispositions not exceeding in the aggregate for the Borrower and its
Subsidiaries (i) 10% of Consolidated Net Tangible Assets in any fiscal year (measured as of
the date of determination) and (ii) 20% of Consolidated Net Tangible Assets during the term
of this Agreement.

     Section 6.04 Transactions with Affiliates. The Borrower will not, and will not permit any of
its Subsidiaries to, directly or indirectly, pay any funds to or for the account of, make any
investment in, lease, sell, transfer or otherwise dispose of any assets, tangible or intangible,
to, or participate in, or effect, any transaction with, any officer, director, employee or
Affiliate (other than the Borrower or one of its Subsidiaries) unless such transaction between the
Borrower and its Subsidiaries on the one hand and any officer, director, employee or Affiliate
(other than the Borrower or one of its Subsidiaries) on the other hand, shall be on terms that are
fair and reasonable to the Borrower or such Subsidiary; provided that the foregoing provisions of
this Section 6.04 shall not (a) prohibit the Borrower or any Subsidiary from declaring or paying
any lawful dividend or distribution otherwise permitted hereunder, (b) prohibit the Borrower or any
Subsidiary from providing credit support for its Subsidiaries as it deems appropriate in the

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ordinary course of business, (c) prohibit the Borrower or any Subsidiary from engaging in a
transaction or transactions on terms that are not fair and reasonable to such Person, provided that
such transaction or transactions occurs within a related series of transactions, which, in the
aggregate, are fair and reasonable to such Person, (d) prohibit the Borrower or any Subsidiary from
engaging in non-material transactions with any Affiliate other than the Borrower or any Subsidiary
that are not fair and reasonable to such Person, but are in the ordinary course of such Person’s
business, so long as, in each case, after giving effect thereto, no Default or Event of Default
shall have occurred and be continuing, (e) prohibit the Borrower or any Subsidiary from entering
into or performing its obligations under any of the agreements listed on Schedule IV or any
amendments, modifications or replacements thereto that, in the aggregate, are not materially
adverse to the Borrower or any Subsidiary party thereto, or (f) prohibit the Borrower or any
Subsidiary from compensating its employees and officers in the ordinary course of business;
provided, further, that a finding by the Board of Directors of General Partner that a transaction
or series of transactions is on terms which are fair and reasonable to the Borrower or any
Subsidiary shall be dispositive.

     Section 6.05 Indebtedness. The Borrower will not, nor will it permit any Guarantor to, create,
incur or assume any Indebtedness (including Acquired Indebtedness) unless at the time of the
incurrence thereof and after giving effect thereto (x) the Borrower shall be in compliance with
Section 5.01 and (y) no Default or Event of Default shall have occurred and be continuing. The
Borrower will not permit its Subsidiaries, which are not Guarantors, to create, incur or assume any
Indebtedness, except (i) Indebtedness in an aggregate amount not to exceed, at any one time
outstanding as of the date such Indebtedness is incurred, the lesser of (A) 20% of Consolidated Net
Tangible Assets less, if the Loans, LC Exposure and other obligations under this Agreement have not
been secured as contemplated under Section 6.02(n), the amount of Indebtedness secured under
Section 6.02(n) and (B) 15% of Consolidated Net Tangible Assets and (ii) Acquired Indebtedness.

Notwithstanding the foregoing paragraph, the Borrower and its Subsidiaries may, at any time,
create, incur or assume the following Indebtedness:

          (a) Indebtedness under the Loan Documents;

          (b) Investments permitted under Section 6.06 that would constitute Indebtedness;

          (c) obligations (contingent or otherwise) of the Borrower or any Subsidiary
existing or arising under hedging agreements or other derivative products; provided that,
such obligations are (or were) entered into by such Person in the ordinary course of
business for the purpose of directly mitigating risks associated with liabilities,
commitments, investments, assets, or property held or reasonably anticipated by such Person,
or changes in the value of securities issued by such Person, and not for purposes of
speculation or taking a “market view”;

          (d) current liabilities of the Borrower or its Subsidiaries incurred in the
ordinary course of business but not incurred through (i) the borrowing of money or (ii)

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the obtaining of credit except for credit on an open account basis customarily extended
and in fact extended in connection with normal purchases of goods and services;

          (e) guarantees of Extensions of Credit hereunder; and

          (f) Indebtedness in respect of taxes, assessments, governmental charges or levies
and claims for labor, materials and supplies to the extent that payment therefor shall not
at the time be required to be made in accordance with the provisions of this Agreement.

     Section 6.06 Investments. Prior to the Investment Grade Rating Date, the Borrower will not,
nor will it permit its Subsidiaries to, make any Investments, except:

          (a) Investments held by the Borrower or a Subsidiary of the Borrower in the form of
cash or Cash Equivalents;

          (b) Investments in any Subsidiary of the Borrower or by any Subsidiary in the
Borrower;

          (c) Investments consisting of extensions of credit in the nature of accounts
receivable or notes receivable arising from the grant of trade credit in the ordinary course
of business, and Investments received in satisfaction or partial satisfaction thereof from
financially troubled account debtors to the extent reasonably necessary in order to prevent
or limit loss;

          (d) Investments in any Joint Venture or Non-Controlled Subsidiary for the purpose
of developing capital projects in the midstream energy business; provided that either (i)
such Joint Venture or Non-Controlled Subsidiary is not subject to any contract or other
consensual restriction or limitation on the ability of such Joint Venture or Non-Controlled
Subsidiary to make Restricted Payments to the Borrower or its Subsidiaries (each a “Payment
Restriction”) other than limitations contained in its organizational documents subjecting
such Restricted Payments to the discretion of its Board of Directors and/or permitting
Restricted Payments only to the extent of available cash (as defined therein), (ii) such
Investment is in a Joint Venture or Non-Controlled Subsidiary that was in existence prior to
the date of this Agreement or (iii) if such Investment is in Joint Ventures or
Non-Controlled Subsidiaries subject to Payment Restrictions (other than as permitted in the
foregoing clause (ii)), the aggregate amount of all such Investments does not exceed, at any
one time outstanding, calculated as of the date such Investment is made, 30% of Consolidated
Net Tangible Assets;

          (e) Investments constituting a Permitted Acquisition;

          (f) Loans and advances to the General Partner to enable the General Partner to pay
general and administrative costs and expenses pursuant to the Partnership Agreement;

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          (g) A $260,000,000 loan to Anadarko issued in connection with the Borrower’s
initial public offering in the form of a 6.5% 30-year note payable quarterly, with principal
and all accrued and unpaid interest due in full at maturity; and

          (h) other Investments in an aggregate amount not to exceed, at any one time
outstanding, $25,000,000.

     Section 6.07 Restricted Payments. Prior to the Investment Grade Rating Date, the Borrower will
not, nor will it permit its Subsidiaries to, declare or make, directly or indirectly, any
Restricted Payment, or incur any obligation (contingent or otherwise) to do so, except that:

          (a) the Borrower may declare and pay dividends or distributions with respect to its
Equity Interests payable solely in additional Equity Interests of the Borrower;

          (b) Subsidiaries may declare and pay dividends or distributions ratably with
respect to their Equity Interests;

          (c) so long as no Default or Event of Default has occurred and is continuing or
would result therefrom, the Borrower may declare and pay quarterly cash dividends or
distributions to its partners of Available Cash in accordance with the Partnership
Agreement;

          (d) the Borrower and its Subsidiaries may make payments or other distributions to
officers, directors or employees with respect to the exercise by any such Persons of
options, warrants or other rights to acquire Equity Interests in the Borrower or such
Subsidiary issued pursuant to an employment, equity award, equity option or equity
appreciation agreement or plans entered into by the Borrower or such Subsidiary in the
ordinary course of business;

          (e) so long as no Default or Event of Default exists and is continuing, the
Borrower may make repurchases of its Equity Interests; and

          (f) so long as no Default or Event of Default exists and is continuing, the
Borrower may make special distributions to the General Partner in connection with any
Permitted Acquisition with Anadarko or any of its Subsidiaries (other than the Borrower and
its Subsidiaries) in an amount, for any Permitted Acquisition, not greater than the
aggregate value of the consideration for the property or assets acquired.

     Section 6.08 Intercompany Payments. If an Event of Default has occurred and is continuing,
then the Borrower will not, nor will it permit its Subsidiaries to:

          (a) make any payment of principal on any intercompany Indebtedness owed to any
Person other than the Borrower or its Subsidiaries; or

          (b) offset any intercompany payables or receivables owing among any of the Borrower
and any of its Subsidiaries on the one hand and Anadarko or any of its Subsidiaries, other
than the Borrower or its Subsidiaries, on the other.

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     Section 6.09 Limitations on Sales and Leasebacks. The Borrower will not, and will not permit
any Subsidiary to, enter into any arrangement with any bank, insurance company or other lender or
investor (not including the Borrower or any Subsidiary) or to which any such lender or investor is
a party, providing for the leasing by the Borrower or a Subsidiary for a period, including
renewals, in excess of three years, of any property which has been or is to be sold or transferred
more than one hundred eighty (180) days after the completion of construction and commencement of
full operation thereof, by the Borrower or any Subsidiary to such lender or investor or to any
Person to whom funds have been or are to be advanced by such lender or investor on the security of
such property (herein referred to as a “sale and leaseback transaction”) unless the Borrower,
within one hundred eighty (180) days after the sale or transfer shall have been made by the
Borrower or by a Subsidiary, applies an amount equal to the greater of (i) the net proceeds of the
sale of the property sold and leased back pursuant to such arrangement or (ii) the net amount
(after deducting applicable reserves) at which such property is carried on the books of the
Borrower or such Subsidiary at the time of entering into such arrangement, to the retirement of
Indebtedness of the Borrower.

     Section 6.10 Fundamental Changes. The Borrower shall not consolidate with or merge into any
other Person or convey, transfer or lease its properties and assets substantially as an entirety to
any Person unless:

          (a) (i) in the case of a merger or amalgamation, the Borrower is the surviving
entity; or (ii) the Person formed by such consolidation or into which the Borrower is merged
or the Person which acquires by conveyance or transfer, or which leases, the properties and
assets of the Borrower substantially as an entirety shall be a corporation, partnership or
trust, shall be organized and existing under the laws of the United States of America, any
State thereof or the District of Columbia, shall (1) have unsecured non-credit enhanced
publicly held indebtedness with an Investment Grade Rating, and (2) expressly assume, by an
agreement supplemental hereto, executed and delivered to the Administrative Agent, in form
reasonably satisfactory to the Administrative Agent, the obligations of the Borrower
hereunder, including the due and punctual payment of the principal of and interest on all
the Revolving Loans and the performance of every covenant of this Agreement on the part of
the Borrower to be performed or observed; and

          (b) immediately after giving effect to such transaction, no Event of Default or
Default shall have occurred and be continuing.

     Section 6.11 Negative Pledge Agreements. Prior to the Investment Grade Rating Date, the
Borrower will not, and will not permit any Wholly Owned Subsidiary to, create, incur or assume any
contract, agreement or understanding (other than this Agreement) which prohibits or restricts the
granting, conveying, creation or imposition of any Lien on any of its property in favor of the
Administrative Agent and the Lenders or restricts any Wholly Owned Subsidiary from paying dividends
or making distributions to the Borrower or any Subsidiary that is a Guarantor, or which requires
the consent of other Persons in connection therewith.

For the sake of clarity, nothing in this Section 6.11 shall restrict Anadarko or any Subsidiary of
Anadarko, other than the Borrower or any of its Subsidiaries.

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ARTICLE VII

CONDITIONS OF LENDING

     Section 7.01 Conditions Precedent to Effectiveness. The obligations of the Lenders and the
Issuing Bank to make the initial Extension of Credit as contemplated by Section 10.15 shall not
become effective until the date on which each of the following conditions is satisfied (or waived
in accordance with Section 10.02):

          (a) Appropriate Notes are issued payable to such Lender, if requested;

          (b) The Administrative Agent (or its counsel) shall have received (i) from each
party hereto either (1) a counterpart of this Agreement signed on behalf of such party, or
(2) written evidence satisfactory to the Administrative Agent (which may include telecopy
transmission of a signed signature page of this Agreement) that such party has signed a
counterpart of this Agreement and (ii) from each Subsidiary that is a Guarantor, either (1)
a counterpart of the Guaranty signed on behalf of such party, or (2) written evidence
satisfactory to the Administrative Agent (which may include telecopy transmission of a
signed signature page of the Guaranty) that such party has signed a counterpart of the
Guaranty;

          (c) The Administrative Agent and the Lenders shall have received all fees and other
amounts due and payable on the Effective Date, including, to the extent invoiced,
reimbursement or payment of all out-of-pocket expenses required to be reimbursed or paid by
the Borrower hereunder;

          (d) The Lenders shall have received (i) satisfactory audited consolidated financial
statements of the Borrower (and its predecessor entity) for the three most recent fiscal
years ended prior to the Effective Date as to which such financial statements are available,
(ii) satisfactory unaudited interim consolidated financial statements of the Borrower for
each fiscal quarterly period ended subsequent to the date of the latest financial statements
delivered pursuant to clause (i) of this paragraph as to which such financial statements are
available, (iii) pro forma consolidated balance sheet of the Borrower and its Subsidiaries
as of December 31, 2010, giving effect to the Loans made under this Agreement on the
Effective Date and (iv) the projections prepared by the Borrower set forth in the
Information Memorandum;

          (e) The Administrative Agent (or its counsel) shall have received certified copies
of the resolutions of (i) the Board of Directors of the General Partner, as general partner
of and on behalf of the Borrower, authorizing the execution, delivery and performance of
this Agreement and the execution, issuance, delivery and performance of its Notes and (ii)
the Board of Directors of and on behalf of each Subsidiary that is a Guarantor, authorizing
the execution, delivery and performance under the Guaranty Agreement;

          (f) The Administrative Agent (or its counsel) shall have received certificates of
responsible officers of the General Partner, as general partner and on behalf of the
Borrower, to the effect that:

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          (i) the representations and warranties contained in ARTICLE III are true and
accurate on and as of the date of the making of each such Loan as though made on and as of
such date (except to the extent that such representations and warranties relate solely to an
earlier date); and

          (ii) no event has occurred and is continuing or would result from the proposed
Borrowing, which constitutes an Event of Default or a Default.

          (g) The Administrative Agent (or its counsel) shall have received an opinion:

          (i) of Vinson & Elkins, LLP, special counsel to the Borrower, in form and substance
reasonably acceptable to the Administrative Agent; and

          (ii) of an associate general counsel, deputy general counsel or the general counsel
of the Borrower or Anadarko, in form and substance reasonably acceptable to the
Administrative Agent;

          (h) There shall not have occurred a Material Adverse Change;

          (i) The Lenders shall have received such documents and other instruments as are
customary for transactions of this type or as they or their counsel may reasonably request;

          (j) The Administrative Agent (or its counsel) shall have received a certificate of
a responsible officer of the Borrower relating to the USA Patriot Act; and

          (k) The Administrative Agent shall have received a certified statement by a
responsible officer of the Borrower calculating, after giving pro forma effect to the Loans
made under this Agreement, the Consolidated Leverage Ratio of the Borrower and its
Subsidiaries for the four fiscal-quarter period ending December 31, 2010.

          (l) The Existing Term Loan Agreement shall contemporaneously be terminated, and all
obligations and Indebtedness thereunder shall contemporaneously be refinanced with the
proceeds of the initial Loans under this Agreement.

     Section 7.02 Conditions Precedent to Loans. The obligation of each Lender to make any Loan,
and the Issuing Bank to issue, amend, renew or extend any Letter of Credit, is subject to the
further conditions precedent that, on the relevant Borrowing Date, Section 7.01(f)(i) and Section
7.01(f)(ii) shall be true with respect to such Loan, issuance, amendment, renewal or extension and
such Borrowing, issuance, amendment, renewal or extension, as applicable, shall be deemed to
constitute a certification by the Borrower that such statements are true.

ARTICLE VIII

EVENTS OF DEFAULT

     Section 8.01 Events of Default. If one or more of the following events of default (“Events of
Default”) shall occur and be continuing:

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          (a) the Borrower shall default in any payment of principal of any Loan or any
reimbursement obligation in respect of any LC Disbursement when and as the same shall become
due and payable, or the Borrower shall default in any payment of interest on any Loan, or in
the payment of any fees or other amounts, when and as the same shall become due and payable,
and such default shall continue for a period of three (3) Business Days;

          (b) any representation or warranty, or certification made by the Borrower herein or
any Subsidiary that is a Guarantor under the Guaranty Agreement or any statement or
representation or certification made or deemed to be made pursuant to ARTICLE III, ARTICLE
VII or the Guaranty Agreement shall prove to have been incorrect in any material respect
when made;

          (c) the Borrower shall fail to observe or perform any covenant, condition or
agreement contained in Section 4.02(a) or Section 4.04 applicable to it or ARTICLE VI
required to be observed or performed by the Borrower;

          (d) the Borrower shall default in the performance of any other term, condition,
covenant or agreement contained in this Agreement (except as set forth in Section 8.01(a) or
Section 8.01(c)) required to be performed by it and such default shall continue unremedied
for a period of thirty (30) days after written notice thereof, specifying such default and
requiring it to be remedied, shall have been received by the Borrower from any Lender;

          (e) the Borrower or any Material Subsidiary shall (i) default in the payment of
principal of any Indebtedness in an aggregate principal amount in excess of $10,000,000
(other than the Loans) beyond the period of grace, if any, provided in the instrument or
agreement under which such Indebtedness was created as and when the same shall become due
and payable whether at maturity, upon redemption, by declaration or otherwise, or (ii)
default in the observance or performance of any other agreement or condition relating to any
such Indebtedness or contained in any instrument or agreement evidencing, securing or
relating thereto, and such default shall have resulted in such Indebtedness being declared
due and payable prior to its stated maturity;

          (f) the Borrower or any Material Subsidiary shall (i) apply for or consent to the
appointment of, or the taking of possession by, a receiver, custodian, trustee or liquidator
of itself or of its property, (ii) admit in writing its inability to pay its debts as such
debts become due, (iii) make a general assignment for the benefit of its creditors, (iv)
commence a voluntary case under any Bankruptcy Law, (v) file a petition seeking to take
advantage of any other law providing for similar relief of debtors, or (vi) consent or
acquiesce in writing to any petition duly filed against it in any involuntary case under any
Bankruptcy Law;

          (g) a proceeding or case shall be commenced, without the application or consent of
the Borrower or any Material Subsidiary, in any court of competent jurisdiction seeking (i)
its liquidation, reorganization, dissolution or winding up, or the composition or
readjustment of its debts, (ii) the appointment of a trustee, receiver,

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custodian, liquidator or the like of it or of its assets, or (iii) similar relief in
respect of it, under any law providing for the relief of debtors, and such proceeding or
case shall continue undismissed, or unstayed and in effect, for a period of sixty (60) days
(or such longer period, so long as the Borrower or any such Material Subsidiary shall be
taking such action in good faith as shall be reasonably necessary to obtain the timely
dismissal or stay of such proceeding or case); or an order for relief shall be entered in an
involuntary case under any applicable Bankruptcy Law, against the Borrower or any such
Subsidiary;

          (h) there is entered against the Borrower or any Material Subsidiary one or more
final non-appealable judgments for the payment of money in an aggregate amount in excess of
$25,000,000 (net of insurance coverage which is reasonably expected to be paid by the
insurer), and the same shall remain undischarged for a period of sixty (60) consecutive days
during which execution shall not be effectively stayed, or any action shall be legally taken
by a judgment creditor to attach or levy upon any assets of the Borrower or any Material
Subsidiary to enforce any such judgment;

          (i) the Loan Documents after delivery thereof shall for any reason, except to the
extent permitted by the terms thereof, cease to be in full force and effect and valid,
binding and enforceable in accordance with their terms against the Borrower or a Guarantor
(other than a Subsidiary that is not a Material Subsidiary) party thereto or shall be
repudiated by any of them, or cease to create a valid and perfected Lien of the priority
required thereby on any of the collateral purported to be covered thereby, except to the
extent permitted by the terms of this Agreement, or the Borrower or any Subsidiary or any of
their Affiliates shall so state in writing.

          (j) an ERISA Event shall have occurred that, when taken together with all other
ERISA Events that have occurred, could reasonably be expected to result in a liability which
would have a Material Adverse Change; or

          (k) any Change of Control shall occur,

then and in each and every case the Majority Lenders, by notice in writing to the Borrower, may
terminate the Commitments of the Lenders hereunder and/or declare the unpaid balance of the Loans
and any other amounts payable hereunder to be forthwith due and payable and thereupon such balance
shall become so due and payable without presentation, protest or further demand or notice of any
kind, all of which are hereby expressly waived; provided that in the case of Section 8.01(f) or (g)
above, the Commitments of the Lenders hereunder shall automatically terminate and the Loans and any
other amounts payable hereunder shall forthwith be due and payable.

ARTICLE IX

THE AGENTS

     Section 9.01 Powers. Each Lender hereby irrevocably appoints and authorizes the Administrative
Agent to act as its agent hereunder. The Administrative Agent shall have and may exercise such
powers hereunder and under any agreement executed and delivered pursuant to the terms hereof as are
specifically delegated to the Administrative Agent by the terms hereof

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or thereof, together with such powers as are reasonably incidental thereto. The Administrative
Agent shall have no duties or responsibilities except those expressly set forth in this Agreement,
and shall not by reason of this Agreement have a fiduciary relationship with any Lender.

     Section 9.02 Agent’s Reliance, Etc.Neither the Administrative Agent nor any of its directors,
officers, agents or employees shall be liable for any action taken or omitted to be taken by any of
them hereunder or under any agreement executed and delivered pursuant to the terms hereof or in
connection herewith or therewith except for their own gross negligence or willful misconduct.

     Section 9.03 No Responsibility for Recitals, Etc.The Administrative Agent shall not be
responsible to the Lenders for any recitals, statements, warranties or representations herein or
under any agreement executed and delivered pursuant to the terms hereof, for the value,
effectiveness, genuineness, enforceability or sufficiency of this Agreement, the Notes or any
agreement executed and delivered pursuant hereto or be bound to ascertain or inquire as to the
performance or observance of any of the terms of this Agreement on the part of the Borrower or of
any of the terms of any such other agreement by any party thereto.

     Section 9.04 Right to Indemnity. The Administrative Agent shall be fully justified in failing
or refusing to take any action hereunder or under any agreement executed and delivered pursuant to
the terms hereof unless it shall first be indemnified (upon requesting such indemnification) to its
satisfaction by the Lenders against any and all liability and expense which it may incur by reason
of taking or continuing to take any such action. The Lenders agree to indemnify the Administrative
Agent, to the extent not reimbursed by the Borrower, under this Agreement, ratably in accordance
with the aggregate Principal Amount of the Loans made by them (or, if no Loans are outstanding,
ratably in accordance with their respective Commitments), for any and all liabilities, obligations,
damages, penalties, actions, judgments, suits, costs, expenses or disbursements of any kind and
nature whatsoever which may be imposed on, incurred by or asserted against the Administrative Agent
as agent in any way relating to or arising out of this Agreement, the Notes or any other documents
contemplated by or referred to herein or the transactions contemplated hereby (including the costs
and expenses which the Borrower is obligated to pay under this Agreement but excluding, unless an
Event of Default has occurred and is continuing, normal administrative costs and expenses incident
to the performance of its agency duties hereunder) or the enforcement of any of the terms hereof or
thereof or of any such other documents; provided no such liability, obligation, damage, penalty,
action, judgment, suit, cost, expense or disbursement results from the Administrative Agent’s gross
negligence or willful misconduct; provided, however, that, in the event the Administrative Agent
receives indemnification from the Lenders hereunder with respect to costs and expenses which the
Borrower is obligated to pay under this Agreement, the Administrative Agent shall remit to the
Lenders the amount of such costs and expenses to the extent subsequently paid by the Borrower, such
remittance to be in accordance with the proportionate amount of the indemnification made by each
respective Lender.

     Section 9.05 Action on Instructions of Lenders. The Administrative Agent shall in all cases be
fully protected in acting or refraining from acting hereunder or under any agreement
executed and delivered pursuant to the terms hereof in accordance with written instructions to it

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signed by the Majority Lenders, and (subject to Section 9.01) such instructions and any action
taken or failure to act pursuant thereto shall be binding on all of the Lenders.

     Section 9.06 Employment of Agents. The Administrative Agent may employ agents and
attorneys-in-fact and shall not be answerable, except as to money or securities received by them or
their authorized agents, for the default or misconduct of any such agent or attorney-in-fact
selected by it with reasonable care.

     Section 9.07 Reliance on Documents. The Administrative Agent shall be entitled to rely upon
(a) any paper or document believed by it to be genuine and to have been signed or sent by the
proper person or persons, and (b) the opinion of its counsel with respect to legal matters. The
Administrative Agent may deem and treat the payee of any Note as the owner thereof for all purposes
hereof unless and until a notice of the assignment or transfer thereof satisfactory to the
Administrative Agent signed by such payee shall have been filed with the Administrative Agent.

     Section 9.08 Rights as a Lender. With respect to its Commitment and the Loans made by it, the
Administrative Agent shall have the same rights and powers hereunder and under any agreement
executed and delivered pursuant to the terms hereof as any Lender, and may exercise the same as
though it were not the Administrative Agent, and the term “Lender” or “Lenders” shall, unless the
context otherwise indicates, include the Administrative Agent in its capacity as a Lender hereunder
and thereunder. The Administrative Agent and its respective Affiliates may accept deposits from,
lend money to, and generally engage in any kind of banking or trust business with the Borrower, the
Subsidiaries and their respective Affiliates as if it were not the Administrative Agent.

     Section 9.09 Non-Reliance on Agents or other Lenders. Each Lender agrees that it has,
independently and without reliance on the Administrative Agent or on any other Lender, and based on
such documents and information as it has deemed appropriate, made its own credit analysis of the
Borrower and decision to enter into this Agreement and that it will, independently and without
reliance upon any Agent or any other Lender, and based on such documents and information as it
shall deem appropriate at the time, continue to make its own analysis and decisions in taking or
not taking action under this Agreement or the Notes. The Administrative Agent shall not be
required to keep itself informed as to the performance or observance by the Borrower of this
Agreement, the performance or observation by any Guarantor under the Guaranty Agreement or any
other document referred to or provided for herein or therein or to inspect the properties or books
of the Borrower or any such party that is a Guarantor under the Guaranty Agreement. Except for
notices, reports and other documents expressly required to be furnished to the Lenders by the
Administrative Agent hereunder, the Administrative Agent shall have no duty or responsibility to
provide any Lender with any credit or other information concerning the affairs, financial condition
or business of the Borrower or which may at any time come into possession of any Agent or any of
their respective Affiliates.

     Section 9.10 Events of Default. If the Administrative Agent receives actual knowledge of an
Event of Default hereunder, such Agent shall promptly inform the Lenders thereof. The
Administrative Agent shall not be deemed to have actual knowledge of an Event of Default hereunder
until it shall have received a written notice from the Borrower or any Lender referring

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to this Agreement, describing such Event of Default and stating that such notice is a
“Notice of Default.”

     Section 9.11 Successor Agent. Subject to the appointment and acceptance of a successor
Administrative Agent as provided in this paragraph, the Administrative Agent may resign at any time
by notifying the Lenders and the Borrower. Upon any such resignation, the Majority Lenders shall
have the right, in consultation with the Borrower, to appoint a successor. If no successor shall
have been so appointed by the Majority Lenders and shall have accepted such appointment within 30
days after such retiring Administrative Agent gives notice of its resignation, then such retiring
Administrative Agent may, on behalf of the Lenders, appoint a successor Administrative Agent which
shall be a bank with an office in New York, New York, or an Affiliate of any such bank. Upon the
acceptance of its appointment as the Administrative Agent hereunder by a successor, such successor
shall succeed to and become vested with all the rights, powers, privileges and duties of such
retiring Administrative Agent, and the retiring Administrative Agent shall be discharged from its
duties and obligations hereunder. The fees payable by the Borrower to a successor Administrative
Agent shall be the same as those payable to its predecessor unless otherwise agreed between the
Borrower and such successor. After an Administrative Agent’s resignation hereunder, the provisions
of this ARTICLE IX and Section 10.03 shall continue in effect for the benefit of such retiring
Administrative Agent, its sub-agents and their respective Related Parties in respect of any actions
taken or omitted to be taken by any of them while it was acting as the Administrative Agent
hereunder.

     Section 9.12 Arrangers and Other Agents. Nothing contained in this Agreement shall be
construed to impose any obligation or duty whatsoever on any Persons named on the cover of this
Agreement or elsewhere in this Agreement as Arrangers, as Syndication Agent, or as Documentation
Agents, other than those applicable to all Lenders as such.

ARTICLE X

MISCELLANEOUS

     Section 10.01 Notices. Except in the case of notices and other communications expressly
permitted to be given by telephone, all notices and other communications provided for herein shall
be in writing and shall be delivered by hand or overnight courier service, mailed by certified or
registered mail or sent by telecopy, as follows:

          (a) if to the Borrower, to it at 1201 Lake Robbins Drive, The Woodlands, Texas
77380, Attention of the Senior Vice President and Chief Financial Officer, Facsimile No.
(832) 636-0278; messenger delivery to 1201 Lake Robbins Drive, The Woodlands, Texas 77380;

          (b) if to the Administrative Agent, to Wells Fargo Bank, National Association,
Houston Energy Group, 1000 Louisiana Street, 9th Floor, Houston, Texas 77002, Attention of
Christina Faith, Facsimile No.: (713) 739-1087;

          (c) if to (i) Wells Fargo Bank, National Association, as the Issuing Bank, to it at
1000 Louisiana Street, 9th Floor, Houston, Texas 77002, Attention of Christina Faith;

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          (d) if to the Swingline Lender, to it at the address set forth in paragraph (b)
above; or

          (e) if to any other Lender, to it at its address (or telecopy number) set forth in
its Administrative Questionnaire.

     Any party hereto may change its address or telecopy number for notices and other
communications hereunder by notice to the other parties hereto. All notices and other
communications given to any party hereto in accordance with the provisions of this Agreement shall
be deemed to have been given on the date of receipt.

     Section 10.02 Waivers; Amendments.

          (a) No failure or delay by the Administrative Agent, the Issuing Bank or any Lender
in exercising any right or power hereunder shall operate as a waiver thereof, nor shall any
single or partial exercise of any such right or power, or any abandonment or discontinuance
of steps to enforce such a right or power, preclude any other or further exercise thereof or
the exercise of any other right or power. The rights and remedies of the Administrative
Agent, the Issuing Bank, and the Lenders hereunder are cumulative and are not exclusive of
any rights or remedies that they would otherwise have. No waiver of any provision of this
Agreement or consent to any departure by the Borrower therefrom shall in any event be
effective unless the same shall be permitted by paragraph (b) of this Section, and then such
waiver or consent shall be effective only in the specific instance and for the purpose for
which given. Without limiting the generality of the foregoing, to the fullest extent
permitted by applicable law, the making of a Loan or issuance of a Letter of Credit shall
not be construed as a waiver of any Event of Default, regardless of whether the
Administrative Agent, any Lender or the Issuing Bank may have had notice or knowledge of
such Event of Default at the time.

          (b) Neither this Agreement nor any provision hereof may be waived, amended or
modified except pursuant to an agreement or agreements in writing entered into by the
Borrower and the Majority Lenders or by the Borrower and the Administrative Agent with the
consent of the Majority Lenders; provided that no such agreement shall (i) increase the
Commitment of any Lender without the written consent of such Lender, (ii) reduce any
Principal Amount or LC Disbursement or reduce the rate of interest thereon, or reduce any
fees payable hereunder, without the written consent of each Lender affected thereby, (iii)
postpone the scheduled date of payment of any Principal Amount or LC Disbursement, or any
interest thereon, or any fees payable hereunder, or reduce the amount of, waive or excuse
any such payment, or postpone the scheduled date of expiration of any Commitment, without
the written consent of each Lender affected thereby, (iv) extend the expiry date of any
Letter of Credit beyond the then scheduled Revolving Commitment Termination Date without the
written consent of each Lender, (v) change Section 2.13(a) or Section 2.13(c) in a manner
that would alter the pro rata sharing of payments required thereby, without the written
consent of each Lender, (vi) change Section 7.01, without the consent of each Lender, (vii)
release any Guarantor (except as set forth in Section 4.06 and the Guaranty Agreement) or
(viii) change any of the provisions of this Section or the definition of “Majority Lenders”
or

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any other provision hereof specifying the number or percentage of Lenders required to
waive, amend or modify any rights hereunder or make any determination or grant any consent
hereunder, without the written consent of each Lender; provided further that no such
agreement shall amend, modify or otherwise affect the rights or duties of the Administrative
Agent, the Issuing Bank or the Swingline Lender hereunder without the prior written consent
of the Administrative Agent, the Issuing Bank or the Swingline Lender. Notwithstanding
anything to the contrary herein, no Defaulting Lender shall have any right to approve or
disapprove any amendment, waiver or consent hereunder, except that the Commitment of such
Lender may not be increased or extended or the principal owed to such Lender reduced, or the
final maturity thereof extended, without the consent of such Lender; provided, that any
amendment to this clause shall require the approval of each Lender, including any Defaulting
Lender.

     Section 10.03 Expenses; Indemnity; Damage Waiver.

          (a) The Borrower shall pay (i) all reasonable out-of-pocket expenses incurred by
the Administrative Agent and its Affiliates, including the reasonable fees, charges and
disbursements of counsel for the Administrative Agent, in connection with the syndication
(prior to the date hereof) of the credit facilities provided for herein, the preparation,
execution, delivery and administration of this Agreement or any amendments, modifications or
waivers of the provisions hereof (whether or not the transactions contemplated hereby or
thereby shall be consummated but subject to the cap on legal expenses agreed with the
Administrative Agent), (ii) all reasonable out-of-pocket expenses incurred by the Issuing
Bank in connection with the issuance, amendment, renewal or extension of any Letter of
Credit or any demand for payment thereunder and (iii) all reasonable out-of-pocket expenses
incurred by the Administrative Agent, the Issuing Bank or any Lender, including the fees,
charges and disbursements of any counsel for the Administrative Agent, the Issuing Bank or
any Lender, in connection with the enforcement or protection of its rights in connection
with this Agreement, including its rights under this Section, or in connection with the
Loans made or Letters of Credit issued hereunder, including all such reasonable
out-of-pocket expenses incurred during any workout, restructuring or negotiations in respect
of such Loans or Letters of Credit. Notwithstanding anything to the contrary, the Borrower
shall not have any obligation to pay the fees or expenses of any Lender or the
Administrative Agent in connection with any assignment of, or the grant of any participation
in, any rights of a Lender under or in connection with this Agreement; provided that the
provisions of this sentence shall not apply to any Lender substituted for a Defaulting
Lender pursuant to Section 10.13 (b) and (c).

          (b) The Borrower shall indemnify the Administrative Agent, the Issuing Bank, the
Swingline Lender, and each Lender, and each Related Party of any of the foregoing Persons
(each such Person being called an “Indemnitee”) against, and hold each Indemnitee harmless
from, any and all losses, penalties, claims, damages, liabilities and related expenses,
including the fees, charges and disbursements of any counsel for any Indemnitee, incurred by
or asserted against any Indemnitee arising out of, in connection with, or as a result of (i)
the execution or delivery of this Agreement or any agreement or instrument contemplated
hereby, the performance by the parties hereto of

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their respective obligations hereunder or the consummation of the Transactions or any
other transactions contemplated hereby, (ii) any Loan or Letter of Credit or the use of the
proceeds therefrom (including any refusal by the Issuing Bank to honor a demand for payment
under a Letter of Credit if the documents presented in connection with such demand do not
strictly comply with the terms of such Letter of Credit), (iii) any actual or alleged
presence or release of hazardous materials on or from any property owned or operated by the
Borrower or any Subsidiary, or any environmental liability related in any way to the
Borrower or any Subsidiary, or (iv) any actual or prospective claim, litigation,
investigation or proceeding relating to any of the foregoing, whether based on contract,
tort or any other theory and regardless of whether any Indemnitee is a party thereto;
provided that such indemnity shall not, as to any Indemnitee, be available to the extent
that such losses, penalties, claims, damages, liabilities or related expenses either (i) did
not result directly or indirectly from the action or inaction of the Borrower or any
Subsidiary, or (ii) resulted from the gross negligence, unlawful conduct or willful
misconduct of such Indemnitee.

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

          (d) All amounts due under this Section shall be payable promptly after written
demand therefor together with a copy of the invoice(s) or other documentation setting forth
in reasonable detail the amount demanded and the matter(s) to which it relates.

     Section 10.04 Successors and Assigns.

          (a) The provisions of this Agreement shall be binding upon and inure to the benefit
of the parties hereto and their respective successors and assigns permitted hereby
(including any Affiliate of the Issuing Bank that issues any Letter of Credit), except that
(i) the Borrower may not assign or otherwise transfer any of its rights or obligations
hereunder except with the prior written consent of each Lender (and any attempted assignment
or transfer by the Borrower without such consent shall be null and void) and (ii) no Lender
may assign or otherwise transfer its rights or obligations hereunder except in accordance
with this Section. Nothing in this Agreement, expressed or implied, shall be construed to
confer upon any Person (other than the parties hereto, their respective successors and
assigns permitted hereby (including any Affiliate of the Issuing Bank that issues any Letter
of Credit), Participants (to the extent provided in paragraph (c) of this Section) and, to
the extent expressly contemplated hereby, the Related Parties of the Administrative Agent,
the Issuing Bank and the Lenders) any legal or equitable right, remedy or claim under or by
reason of this Agreement.

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          (b) (i) Subject to the conditions set forth in paragraph (b)(ii) below, any
Lender may assign to one or more assignees (other than the Borrower or its Affiliates) all
or a portion of its rights and obligations under this Agreement (including all or a portion
of its Commitment and the Loans at the time owing to it) with the prior written consent
(such consent not to be unreasonably withheld or delayed) of:

          (A) the Borrower, provided that no consent of the Borrower shall be required
for an assignment to a Lender, an Affiliate of a Lender or, if an Event of Default
under Section 8.01(a), (b), (g), (h) or (i) has occurred and is continuing, any
other assignee; and

          (B) the Administrative Agent and the Issuing Bank, provided that no consent of
the Administrative Agent or the Issuing Bank shall be required for an assignment of
any Revolving Commitment to an assignee that is a Lender with a Commitment
immediately prior to giving effect to such assignment or an Affiliate of a Lender.

          (ii) Assignments shall be subject to the following additional conditions:

          (A) except in the case of an assignment to a Lender or an Affiliate of a Lender
or an assignment of the entire remaining amount of the assigning Lender’s Commitment
or Loans, the amount of the Commitment or Loans of the assigning Lender subject to
each such assignment (determined as of the date the Assignment and Assumption with
respect to such assignment is delivered to the Administrative Agent) shall not be
less than $5,000,000 unless each of the Borrower and the Administrative Agent
otherwise consent, provided that no such consent of the Borrower shall be required
if an Event of Default under Section 8.01(a), (b), (g), (h) or (i) has occurred and
is continuing;

          (B) each partial assignment shall be made as an assignment of a proportionate
part of all the assigning Lender’s rights and obligations under this Agreement and,
unless each of the Borrower and the Administrative Agent otherwise consent, shall
result in the assigning Lender having no less than $10,000,000 in Commitments and
Loans after giving effect to such assignment;

          (C) the parties to each assignment shall execute and deliver to the
Administrative Agent an Assignment and Assumption, together with a processing and
recordation fee of $3,500; and

          (D) the assignee, if it shall not be a Lender, shall deliver to the
Administrative Agent an Administrative Questionnaire.

          (iii) Subject to acceptance and recording thereof pursuant to paragraph (b)(v) of this
Section, from and after the effective date specified in each Assignment and Assumption the
assignee thereunder shall be a party hereto and, to the extent of the interest assigned by
such Assignment and Assumption, have the rights and obligations of a Lender under this
Agreement, and the assigning Lender thereunder shall, to the extent

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of the interest assigned by such Assignment and Assumption, be released from its
obligations under this Agreement (and, in the case of an Assignment and Assumption covering
all of the assigning Lender’s rights and obligations under this Agreement, such Lender shall
cease to be a party hereto but shall continue to be entitled to the benefits of Section
2.14, Section 2.16, Section 2.21 and Section 10.03). Any assignment or transfer by a Lender
of rights or obligations under this Agreement that does not comply with this Section 10.04
shall be treated for purposes of this Agreement as a sale by such Lender of a participation
in such rights and obligations in accordance with paragraph (c) of this Section.

          (iv) The Administrative Agent, acting for this purpose as an agent of the Borrower,
shall maintain a copy of each Assignment and Assumption delivered to it and a register for
the recordation of the names and addresses of the Lenders, and the Commitment of, and
principal amount of the Loans and LC Disbursements owing to, each Lender pursuant to the
terms hereof from time to time (the “Register”). The entries in the Register shall be prima
facie evidence of the existence and amounts of the obligations recorded therein, and the
Borrower, the Administrative Agent, the Issuing Bank and the Lenders may treat each Person
whose name is recorded in the Register pursuant to the terms hereof as a Lender hereunder
for all purposes of this Agreement, notwithstanding notice to the contrary. The Register
shall be available for inspection by the Borrower, the Issuing Bank and any Lender, at any
reasonable time and from time to time upon reasonable prior notice.

          (v) Upon its receipt of a duly completed Assignment and Assumption executed by an
assigning Lender and an assignee, the assignee’s completed Administrative Questionnaire
(unless the assignee shall already be a Lender hereunder), the processing and recordation
fee referred to in paragraph (b)(ii)(C) of this Section and any written consent to such
assignment required by paragraph (b)(i) of this Section and upon satisfaction of the
additional conditions set forth in paragraph (b)(ii) of this Section, the Administrative
Agent shall accept such Assignment and Assumption and record the information contained
therein in the Register maintained at the New York office of the Administrative Agent. No
assignment shall be effective for purposes of this Agreement unless it has been recorded in
the applicable Register as provided in this paragraph.

          (c) (i) Any Lender may, without the consent of the Borrower, the Administrative Agent
or the Issuing Bank, sell participations to one or more banks or other entities other than
the Borrower or its Affiliates (a “Participant”) in all or a portion of such Lender’s rights
and obligations under this Agreement (including all or a portion of its Commitment and the
Loans owing to it); provided that (A) such Lender’s obligations under this Agreement shall
remain unchanged, (B) such Lender shall remain solely responsible to the other parties
hereto for the performance of such obligations and (C) the Borrower, the Administrative
Agent, the Issuing Bank and the other Lenders shall continue to deal solely and directly
with such Lender in connection with such Lender’s rights and obligations under this
Agreement. Any agreement or instrument pursuant to which a Lender sells such a
participation shall provide that such Lender shall retain the sole right to enforce this
Agreement and to approve any amendment, modification or waiver of any provision of this
Agreement; provided that such agreement or instrument

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may provide that such Lender will not, without the consent of the Participant, agree to
any amendment, modification or waiver described in the first proviso to Section 10.02(b)
that affects such Participant. Subject to paragraph (c)(ii) of this Section, the Borrower
agrees that each Participant shall be entitled to the benefits of Section 2.14, Section 2.16
and Section 2.21 to the same extent as if it were a Lender and had acquired its interest by
assignment pursuant to paragraph (b) of this Section. Notwithstanding anything to the
contrary, unless otherwise contractually agreed, no Participant shall be entitled to the
benefits of Section 10.08 as though it were a Lender.

          (ii) A Participant shall not be entitled to receive any greater payment under Section
2.14 or Section 2.16 than the applicable Lender would have been entitled to receive with
respect to the participation sold to such Participant, unless the sale of the participation
to such Participant is made with the Borrower’s prior written consent. A Participant that
would be a Foreign Lender if it were a Lender shall not be entitled to the benefits of
Section 2.16 unless the Borrower is notified of the participation sold to such Participant
and such Participant agrees, for the benefit of the Borrower, to comply with Section 2.16(e)
and Section 2.16(i) as though it were a Lender.

          (d) Any Lender may at any time pledge or assign a security interest in all or any
portion of its rights under this Agreement to secure obligations of such Lender, including
any pledge or assignment to secure obligations to a Federal Reserve Bank in accordance with
Regulation A of the Board, and to a trustee for the benefit of holders of debt securities
issued by such Lender, and this Section shall not apply to any such pledge or assignment of
a security interest; provided that no such pledge or assignment of a security interest shall
release a Lender from any of its obligations hereunder or substitute any such pledgee or
assignee for such Lender as a party hereto.

     Section 10.05 Survival. All covenants, agreements, representations and warranties made by the
Borrower herein and in the certificates or other instruments delivered in connection with or
pursuant to this Agreement shall be considered to have been relied upon by the other parties hereto
and shall survive the execution and delivery of this Agreement and the making of any Loans and
issuance of any Letters of Credit, regardless of any investigation made by any such other party or
on its behalf and notwithstanding that the Administrative Agent, the Issuing Bank or any Lender may
have had notice or knowledge of any Event of Default or incorrect representation or warranty at the
time any credit is extended hereunder, and shall continue in full force and effect as long as the
principal of or any accrued interest on any Loan or any fee or any other amount payable under this
Agreement is outstanding and unpaid or any Letter of Credit is outstanding and so long as the
Commitments have not expired or terminated. The provisions of Section 2.14, Section 2.16, Section
2.21, Section 2.22, Section 10.03, this Section 10.05, and ARTICLE IX shall survive and remain in
full force and effect regardless of the consummation of the transactions contemplated hereby, the
repayment of the Loans, the expiration or termination of the Letters of Credit and the Commitments
or the termination of this Agreement or any other provision hereof.

     Section 10.06 Counterparts; Integration; Effectiveness. This Agreement may be executed in
counterparts (and by different parties hereto on different counterparts), each of which shall
constitute an original, but all of which when taken together shall constitute a single

68

 

contract. This Agreement, the other Loan Documents and any separate letter agreements with respect
to fees payable to the Administrative Agent constitute the entire contract among the parties
relating to the subject matter hereof and supersede any and all previous agreements and
understandings, oral or written, relating to the subject matter hereof. Except as provided in
Section 7.01, this Agreement shall become effective when it shall have been executed by the
Administrative Agent and when the Administrative Agent shall have received counterparts hereof
which, when taken together, bear the signatures of each of the other parties hereto, and thereafter
shall be binding upon and inure to the benefit of the parties hereto and their respective
successors and assigns. Delivery of an executed counterpart of a signature page of this Agreement
by telecopy shall be effective as delivery of a manually executed counterpart of this Agreement.

     Section 10.07 Severability. Any provision of this Agreement held to be invalid, illegal or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such invalidity, illegality or unenforceability without affecting the validity, legality and
enforceability of the remaining provisions hereof; and the invalidity of a particular provision in
a particular jurisdiction shall not invalidate such provision in any other jurisdiction.

     Section 10.08 Right of Setoff. If (a) an Event of Default shall have occurred and be continuing,
and (b) the principal of the Loans has been accelerated each Lender is hereby authorized at any
time and from time to time, to the fullest extent permitted by law, to set off and apply any and
all deposits (general or special, time or demand, provisional or final) at any time held and other
obligations at any time owing by such Lender to or for the credit or the account of the Borrower
against any of and all the obligations of the Borrower now or hereafter existing under this
Agreement held by such Lender, irrespective of whether or not such Lender shall have made any
demand under this Agreement and although such obligations may be unmatured. The rights of each
Lender under this Section are in addition to other rights and remedies (including other rights of
setoff) which such Lender may have. Any Lender exercising a right of set off under this Section
10.08 shall promptly notify the Administrative Agent of such action.

     Section 10.09 Governing Law; Jurisdiction; Consent to Service of Process.

          (a) THIS AGREEMENT AND THE NOTES SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY
THE LAW OF THE STATE OF NEW YORK.

          (b) Each party hereto hereby irrevocably and unconditionally submits, for itself and
its property, to the nonexclusive jurisdiction of the courts of the Supreme Court of the
State of New York, sitting in New York County and of the United States District Court of the
Southern District of New York, and any appellate court from either thereof, in any action or
proceeding arising out of or relating to this Agreement, the Notes, or the other Loan
Documents, or for recognition or enforcement of any judgment, and each of the parties hereto
hereby irrevocably and unconditionally agrees that all claims in respect of any such action
or proceeding may be heard and determined in such New York State court or, to the extent
permitted by law, in such Federal court. Each of the parties hereto agrees that a final
judgment in any such action or proceeding shall be conclusive and may be enforced in other
jurisdictions by suit on the judgment or in any

69

 

other manner provided by law. Nothing in this Agreement or any other Loan Document
shall affect any right that the Administrative Agent, any of the other agents, the Issuing
Bank or any Lender may otherwise have to bring any action or proceeding relating to this
Agreement against the Borrower or its properties in the courts of any jurisdiction.

          (c) Each party to this Agreement irrevocably consents to service of process in the
manner provided for notices in Section 10.01. Nothing in this Agreement will affect the
right of any party to this Agreement to serve process in any other manner permitted by law.

     Section 10.10 WAIVER OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING
DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THE LOAN DOCUMENTS OR THE TRANSACTIONS
CONTEMPLATED HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (a)
CERTIFIES THAT NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY
OR OTHERWISE, THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE
FOREGOING WAIVER AND (b) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO
ENTER INTO THIS AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS
SECTION.

     Section 10.11 Headings. Article and Section headings and the Table of Contents used herein are for
convenience of reference only, are not part of this Agreement and shall not affect the construction
of, or be taken into consideration in interpreting, this Agreement.

     Section 10.12 Confidentiality. The Administrative Agent, the Issuing Bank and the Lenders agrees
to maintain the confidentiality of the Information (as defined below), except that Information may
be disclosed (a) to its and its Affiliates’ directors, officers, employees and agents, including
accountants, legal counsel and other advisors who have a reason to use such Information in
connection with the administration of this Agreement (it being understood that the Persons to whom
such disclosure is made will be informed of the confidential nature of such Information and
instructed to keep such Information confidential and will agree to use the Information solely for
the purpose of such administration), (b) to the extent requested by any regulatory authority or any
self-regulatory body having authority to regulate or oversee any aspect of any Lender’s (or any
Affiliate of such Lender) business or property, (c) to the extent required by applicable laws or
regulations or by any subpoena or similar legal process, (d) to any other party to this Agreement,
(e) in connection with the exercise of any remedies hereunder or any suit, action or proceeding
relating to this Agreement or the enforcement of rights hereunder, (f) subject to an agreement
containing provisions substantially the same as those of this Section, to any assignee of or
Participant in, or any prospective assignee of or Participant in, any of its rights or obligations
under this Agreement, or to any counterparty (or its advisor) to any swap, securitization, or
derivative transaction referencing or involving any of its rights or obligations under this
Agreement, (g) with the consent of the Borrower, or (h) to the extent such Information (i) becomes
publicly available other than as a result of a breach of this Section or (ii) becomes

70

 

available to the Administrative Agent, the Issuing Bank, or any Lender on a non-confidential basis
from a source other than the Borrower or any of its Affiliates. For the purposes of this Section,
“Information” means all information received from the Borrower relating to the Borrower or its
business, other than any such information that is available to the Administrative Agent, the
Issuing Bank, or any Lender on a non-confidential basis prior to disclosure by the Borrower;
provided that, in the case of information received from the Borrower after the date hereof, such
information is clearly identified at the time of delivery as confidential. Any Person required to
maintain the confidentiality of Information as provided in this Section shall be considered to have
complied with its obligation to do so if such Person has exercised the same degree of care to
maintain the confidentiality of such Information as such Person would accord to its own
confidential information.

     Section 10.13 Termination and Substitution of Lender.

          (a) If (i) the obligation of any Lender to make Eurodollar Loans or continue Loans as
Eurodollar Loans has been suspended pursuant to Section 2.15 or (ii) any Lender has demanded
compensation under Section 2.14 or Section 2.16, then the Borrower may, upon three Business
Days’ notice to such Lender through the Administrative Agent, prepay in full all of the
outstanding Loans of such Lender, or its assignee, together with accrued interest thereon to
the date of prepayment and all other amounts payable hereunder to such Lender accrued to the
date of prepayment, and concurrently therewith terminate this Agreement with respect to such
Lender by giving notice of such termination to the Administrative Agent and such Lender.

          (b) So long as no Default or Event of Default has occurred and is continuing, if any
Lender shall become a Defaulting Lender, the Borrower may, in its sole discretion and
without prejudice to any right or remedy that the Borrower may have against such Defaulting
Lender with respect to, on account of, arising from or relating to any event pursuant to
which such Lender shall be a Defaulting Lender, upon notice to such Defaulting Lender and
the Administrative Agent, (i) if at such time there are no Loans or LC Exposure of such
Defaulting Lender outstanding, terminate this Agreement with respect to such Defaulting
Lender, or (ii) if at such time such Defaulting Lender shall have Credit Exposure
outstanding, either (A) terminate any Commitment of such Lender in excess (any such excess
being the “Excess Commitment”) of such Credit Exposure and leave any Loans or LC Exposure of
such Defaulting Lender in place for payment or satisfaction in the ordinary course in
accordance with the other provisions of this Agreement (in which case the total Commitments
hereunder shall be immediately reduced by the amount of such Defaulting Lender’s Excess
Commitment and thereafter reduced as such Credit Exposure is paid or satisfied) or (B)
subject to obtaining a substitute lender or lenders to assume the Commitment of such
Defaulting Lender pursuant to subsection (c) below, terminate this Agreement with respect to
such Defaulting Lender and prepay in full the outstanding Loans of such Defaulting Lender
together with accrued interest to the date of prepayment, provided that the provisions of
Section 2.19 shall not apply to any such prepayment.

          (c) If the Borrower elects to terminate this Agreement with respect to any Lender under
Section 10.13(b)(ii)(B), the Borrower shall cooperate in good faith with

71

 

the Administrative Agent, to seek a mutually satisfactory substitute lender or lenders
(which may be one or more of the Lenders) to assume the Commitment of such relevant Lender
and until a substitute lender (or lenders) has been found and documents reasonably
acceptable to each of the substitute lender or lenders, the Administrative Agent and the
Borrower have been executed to provide for the assignment of the rights and obligations of
the Defaulting Lender to the substitute lender or lenders in accordance with Section 10.04,
the total Commitments hereunder shall be reduced by an amount equal to such terminated
Lender’s Commitment. If the Borrower elects to terminate this Agreement with respect to any
Lender under the first sentence of Section 10.13(a)(i) or (ii) or (iii) or this Agreement is
automatically terminated as to such Lender under the second sentence of Section 10.13(a),
the total Commitments hereunder shall be reduced by an amount equal to such terminated
Lender’s Commitment.

          (d) To the extent any Letter of Credit is outstanding as of the date this Agreement is
terminated as to any Lender under Section 10.13(a) or (b) above, each continuing Lender
shall be deemed to have acquired, and each terminated Lender shall be deemed to transferred,
such portions of the existing participations in such Letter of Credit as shall cause the
participations therein of all Lenders to be pro rata in accordance with the Applicable
Percentages of all Lenders on such date (after giving effect to the termination of the
Commitments of the terminated Lenders; provided that no Lender’s Commitment may be increased
as a result thereof without such Lender’s consent given in accordance with Section 2.09).

     Section 10.14 USA Patriot Act Notice. Each Lender hereby notifies the Borrower that pursuant to
the requirements of the USA Patriot Act (Title III of Pub. L. 107-56 (signed into law October 26,
2001)) (the “USA Patriot Act”), it is required to obtain, verify and record information that
identifies the Borrower and its Subsidiaries, which information includes the name and address of
the Borrower and such Subsidiaries and other information that will allow such Lender to identify
the Borrower and such Subsidiaries in accordance with the USA Patriot Act.

     Section 10.15 Amendment and Restatement. The undersigned Lenders, to the extent a party to the
Existing Revolving Credit Agreement (the “Existing Lenders”), agree and acknowledge that in
connection with the amendment and restatement of the Existing Revolving Credit Agreement pursuant
hereto, the Borrower, the Administrative Agent and the Existing Lenders shall make adjustments to
(i) the outstanding principal amount of “Revolving Loans” (as defined in the Existing Revolving
Credit Agreement, but not any interest accrued thereon prior to the Effective Date or any accrued
facility fees under the Existing Revolving Credit Agreement prior to the Effective Date), including
the borrowing of such additional “Revolving Loans” (which may include “Eurodollar Loans”, as
defined in the Existing Revolving Credit Agreement) and the repayment of “Revolving Loans” (which
may include the prepayment or conversion of “Eurodollar Loans”) plus all applicable accrued
interest, fees and expenses as shall be necessary to provide for Revolving Loans by each Lender in
the amount of its new Applicable Percentage of all Revolving Loans as of the Effective Date, and
(ii) participations in any outstanding “Letters of Credit” (as defined in the Existing Revolving
Credit Agreement) issued under the Existing Revolving Credit Agreement (the “Existing Letters
of Credit”) to provide for each Lender’s participation in such Existing Letters of Credit equal
to such Lender’s new Applicable

72

 

Percentage of the aggregate amount available to be drawn under each such Existing Letter of Credit
as of the Effective Date. In connection with the foregoing (i) each Existing Lender shall be
deemed to have made an assignment of its outstanding Revolving Loans and “Commitments” (as defined
in the Existing Revolving Credit Agreement) under the Existing Revolving Credit Agreement, and
assumed outstanding Revolving Loans and Commitments of other Existing Lenders under the Existing
Revolving Credit Agreement, all at the request of the Borrower, as may be necessary to effect the
foregoing, and each Existing Lender hereby waives any right to any reimbursement under Section 2.21
hereof with respect thereto, and (ii) each Existing Letter of Credit shall be deemed to be a Letter
of Credit issued hereunder as of the Effective Date for all purposes hereof. Each of the
undersigned Existing Lenders, waives any requirement under the Existing Revolving Credit Agreement
that notice with respect to any such borrowing, prepayment or other transaction described in this
Section 10.15 be given.

[SIGNATURES BEGIN ON NEXT PAGE]

73

 

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

	 	 	 	 	 
	
BORROWER:

	
WESTERN GAS PARTNERS, LP

 	 
	 	By:  	             Western Gas Holdings, LLC, 
its general partner
 	 
	 	 	 
	 	By:  	               /s/ Donald R. Sinclair
 	 
	 	 	Name:  	Donald R. Sinclair 	 
	 	 	Title:  	President and Chief Executive Officer 	 

[Signature Page — $800,000,000 Amended and Restated Revolving Credit Agreement]

 

 

	 	 	 	 	 
	
ADMINISTRATIVE AGENT:
 	
WELLS FARGO BANK, NATIONAL

ASSOCIATION

 	 
	 	By:  	/s/ Paul Farrell
 	 
	 	 	Name:  	Paul Farrell 	 
	 	 	Title:  	Director 	 

[Signature Page — $800,000,000 Amended and Restated Revolving Credit Agreement]

 

 

	 	 	 	 	 
	SYNDICATION AGENT:	DNB NOR BANK ASA, NEW YORK BRANCH,

as Syndication Agent and a Lender

 	 
	 	By:  	/s/  Giacomo Landi
 	 
	 	 	Name:  	Giacomo Landi 	 
	 	 	Title:  	Senior Vice President 	 
	 	 	 
	 	By:  	                       /s/ Kristin Riise
 	 
	 	 	Name:  	Kristin Riise 	 
	 	 	Title:  	First Vice President 	 
	 

[Signature Page — $800,000,000 Amended and Restated Revolving Credit Agreement]

 

 

	 	 	 	 	 
	DOCUMENTATION AGENT:	 BANK OF MONTREAL,

as a Documentation Agent and a Lender

 	 
	 	By:  	/s/  James V. Ducote
 	 
	 	 	Name:  	James V. Ducote 	 
	 	 	Title:  	Director 	 
	 

[Signature Page — $800,000,000 Amended and Restated Revolving Credit Agreement]

 

 

	 	 	 	 	 
	DOCUMENTATION AGENT:	 COMERICA BANK,

as a Documentation Agent and a Lender

 	 
	 	By:  	/s/ Paul Edmonds
 	 
	 	 	Name:  	Paul Edmonds 	 
	 	 	Title:  	Vice President 	 
	 

[Signature Page — $800,000,000 Amended and Restated Revolving Credit Agreement]

 

 

	 	 	 	 	 
	
DOCUMENTATION AGENT:
	
 THE BANK OF TOKYO-MITSUBISHI UFJ,

LTD., as a Documentation Agent and a Lender

 	 
	 	By:  	/s/  William S. Rogers
 	 
	 	 	Name:  	William S. Rogers 	 
	 	 	Title:  	Authorized Signatory 	 
	 

[Signature Page — $800,000,000 Amended and Restated Revolving Credit Agreement]

 

 

	 	 	 	 	 
	LENDER:	 WELLS FARGO BANK, NATIONAL

ASSOCIATION

 	 
	 	By:  	/s/  Paul Farrell
 	 
	 	 	Name:  	Paul Farrell 	 
	 	 	Title:  	Director 	 
	 

[Signature Page — $800,000,000 Amended and Restated Revolving Credit Agreement]

 

 

	 	 	 	 	 
	LENDER:	 BARCLAYS BANK PLC

 	 
	 	By:  	/s/  David Barton
 	 
	 	 	Name:  	David Barton 	 
	 	 	Title:  	Director 	 
	 

[Signature Page — $800,000,000 Amended and Restated Revolving Credit Agreement]

 

 

	 	 	 	 	 
	LENDER:  	CITIBANK N.A.

 	 
	 	By:  	/s/  John Miller
 	 
	 	 	Name:  	John Miller 	 
	 	 	Title:  	Attorney-in-Fact 	 
	 

[Signature Page — $800,000,000 Amended and Restated Revolving Credit Agreement]

 

 

	 	 	 	 	 
	LENDER: 	 DEUTSCHE BANK AG NEW YORK BRANCH

 	 
	 	By:  	/s/  Oliver Schwarz
 	 
	 	 	Name:  	Oliver Schwarz 	 
	 	 	Title:  	Director 	 
	 	 	 
	 	By:  	                        /s/  Ming K. Chu
 	 
	 	 	Name:  	Ming K. Chu 	 
	 	 	Title:  	Vice President 	 
	 

[Signature Page — $800,000,000 Amended and Restated Revolving Credit Agreement]

 

 

	 	 	 	 	 
	LENDER: 	 MORGAN STANLEY BANK, N.A.

 	 
	 	By:  	/s/  Sherrese Clarke
 	 
	 	 	Name:  	Sherrese Clarke 	 
	 	 	Title:  	Authorized Signatory 	 
	 

[Signature Page — $800,000,000 Amended and Restated Revolving Credit Agreement]

 

 

	 	 	 	 	 
	LENDER: 	 ROYAL BANK OF CANADA

 	 
	 	By:  	/s/  Jay T. Sartain
 	 
	 	 	Name:  	Jay T. Sartain 	 
	 	 	Title:  	Authorized Signatory 	 
	 

[Signature Page — $800,000,000 Amended and Restated Revolving Credit Agreement]

 

 

	 	 	 	 	 
	LENDER:  	SOCIETE GENERALE

 	 
	 	By:  	/s/  Stephen W. Warfel
 	 
	 	 	Name:  	Stephen W. Warfel 	 
	 	 	Title:  	Managing Director 	 
	 

[Signature Page — $800,000,000 Amended and Restated Revolving Credit Agreement]

 

 

	 	 	 	 	 
	LENDER: 	 THE BANK OF NOVA SCOTIA

 	 
	 	By:  	/s/  J. Frazell
 	 
	 	 	Name:  	J. Frazell 	 
	 	 	Title:  	Director 	 
	 

[Signature Page — $800,000,000 Amended and Restated Revolving Credit Agreement]

 

 

	 	 	 	 	 
	LENDER: 	 THE ROYAL BANK OF SCOTLAND PLC

 	 
	 	By:  	/s/  Steve Ray
 	 
	 	 	Name:  	Steve Ray 	 
	 	 	Title:  	Director 	 
	 

[Signature Page — $800,000,000 Amended and Restated Revolving Credit Agreement]

 

 

	 	 	 	 	 
	LENDER: 	 U.S. BANK, NATIONAL ASSOCIATION

 	 
	 	By:  	/s/  Kevin S McFadden
 	 
	 	 	Name:  	Kevin S McFadden 	 
	 	 	Title:  	Vice President
612-303-3755	 
	 

[Signature Page — $800,000,000 Amended and Restated Revolving Credit Agreement]

 

 

	 	 	 	 	 
	LENDER: 	 UBS LOAN FINANCE LLC

 	 
	 	By:  	/s/  Irja R. Otsa
 	 
	 	 	Name:  	Irja R. Otsa 	 
	 	 	Title:  	Associate Director 	 
	 	 	 
	 	By:  	                               /s/  Mary E. Evans
 	 
	 	 	Name:  	Mary E. Evans 	 
	 	 	Title:  	Associate Director 	 
	 

[Signature Page — $800,000,000 Amended and Restated Revolving Credit Agreement]

 

 

	 	 	 	 	 
	LENDER: 	 AMEGY BANK NATIONAL ASSOCIATION

 	 
	 	By:  	/s/  Charles W. Patterson
 	 
	 	 	Name:  	Charles W. Patterson 	 
	 	 	Title:  	Senior Vice President 	 
	 

[Signature Page — $800,000,000 Amended and Restated Revolving Credit Agreement]

 

 

	 	 	 	 	 
	LENDER: 	 BRANCH BANKING AND TRUST COMPANY

 	 
	 	By:  	/s/  Elizabeth Seigler
 	 
	 	 	Name:  	Elizabeth Seigler 	 
	 	 	Title:  	Assistant Vice President 	 
	 

[Signature Page — $800,000,000 Amended and Restated Revolving Credit Agreement]

 

 

ANNEX I

LIST OF COMMITMENTS

	 	 	 	 	 	 	 	 	 
	 	 	Initial Amount of	 	 	Percentage of	 
	                                                            Lenders	 	Commitment	 	 	Commitment	 
	Wells Fargo Bank, National Association
	 	$	72,750,000	 	 	 	9.09375	%
	DnB Nor Bank ASA, New York Branch
	 	$	72,750,000	 	 	 	9.09375	%
	Bank of Montreal
	 	$	46,500,000	 	 	 	5.81250	%
	Barclays Bank PLC
	 	$	46,500,000	 	 	 	5.81250	%
	Citibank N.A.
	 	$	46,500,000	 	 	 	5.81250	%
	Comerica Bank
	 	$	46,500,000	 	 	 	5.81250	%
	Deutsche Bank AG New York Branch
	 	$	46,500,000	 	 	 	5.81250	%
	Morgan Stanley Bank, N.A.
	 	$	46,500,000	 	 	 	5.81250	%
	Royal Bank of Canada
	 	$	46,500,000	 	 	 	5.81250	%
	Societe Generale
	 	$	46,500,000	 	 	 	5.81250	%
	The Bank of Nova Scotia
	 	$	46,500,000	 	 	 	5.81250	%
	The Bank of Tokyo-Mitsubishi UFJ, Ltd.
	 	$	46,500,000	 	 	 	5.81250	%
	The Royal Bank of Scotland plc
	 	$	46,500,000	 	 	 	5.81250	%
	U.S. Bank National Association
	 	$	46,500,000	 	 	 	5.81250	%
	UBS Loan Finance LLC
	 	$	46,500,000	 	 	 	5.81250	%
	Amegy Bank National Association
	 	$	25,000,000	 	 	 	3.12500	%
	Branch Banking and Trust Company
	 	$	25,000,000	 	 	 	3.12500	%
	 
	 	 	 	 	 	 	 	 
	Totals
	 	$	800,000,000	 	 	 	100.00000	%
	 	 	 	 	 	 	 

Annex I-1

Commitments

 

 

SCHEDULE I

PRICING SCHEDULE

Prior to Borrower obtaining a rating on its senior unsecured non-credit enhanced publicly held
indebtedness of BBB-/Baa3 or higher from S&P, Moody’s or Fitch and a rating not less than BB+/Ba1
from at least one other such agency, pricing shall be based upon the Consolidated Leverage Ratio as
follows:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Facility	 	Eurodollar	 	Base Rate	 	Drawn Pricing
	Level	 	Consolidated Leverage Ratio	 	Fee	 	Margin	 	Margin	 	(LIBOR)
	 	I	 	 	Less than 2.50 to 1.00
	 	 	0.200	%	 	 	1.300	%	 	 	0.300	%	 	 	1.500	%
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	II	 	Greater than
or equal to 2.50 to 1.00 but less than 3.00 to 1.00
	 	 	0.250	%	 	 	1.500	%	 	 	0.500	%	 	 	1.750	%
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	III	 	Greater than
or equal to 3.00 to 1.00 but less than 4.00 to 1.00
	 	 	0.300	%	 	 	1.700	%	 	 	0.700	%	 	 	2.000	%
	 	 	 	 	 
	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	IV	 	Greater than or equal to 4.00 to 1.00
	 	 	0.350	%	 	 	1.900	%	 	 	0.900	%	 	 	2.250	%

The applicable interest Margins and the Facility Fee shall be based on Level III of the Pricing
Grid until the first calculation date following the receipt by the Administrative Agent and the
Lenders of the financial information and related compliance certificate for the first full fiscal
quarter ending after the Effective Date.

On and after the date on which the Borrower obtains such ratings, pricing shall be based upon the
Borrower’s rating on its senior unsecured non-credit enhanced publicly held indebtedness as
follows:

	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 	 
	Senior Unsecured	 	Facility 	 	Eurodollar	 	Base Rate	 	Drawn Pricing
	Debt Rating	 	 Fee	 	 Margin	 	 Margin	 	(LIBOR)
	> BBB+ / Baa1

	 	 	0.200	%	 	 	1.300	%	 	 	0.300	%	 	 	1.500	%
	BBB / Baa2

	 	 	0.225	%	 	 	1.400	%	 	 	0.400	%	 	 	1.625	%
	BBB- / Baa3

	 	 	0.250	%	 	 	1.500	%	 	 	0.500	%	 	 	1.750	%
	< BBB- / Baa3

	 	 	0.350	%	 	 	1.900	%	 	 	0.900	%	 	 	2.250	%

If there are at least two ratings from S&P, Moody’s or Fitch, then if the highest and lowest
ratings are different by one notch, the highest rating will govern and if there is a two notch or
greater difference between the highest and the lowest rating, then the governing rating will be one
level better than the lowest rating. If the Borrower ceases to have senior unsecured non-

Schedule I

Pricing Schedule

 

 

credit enhanced publicly held indebtedness which is rated by at least two of S&P, Moody’s and
Fitch, then from and after the date on which the Borrower ceases to have such indebtedness so
rated, pricing shall be based on the first table in this pricing schedule.

Schedule I

Pricing Schedule

 

 

SCHEDULE
II

SUBSIDIARIES

Anadarko Gathering Company, LLC

     a Delaware limited liability company,

Anadarko Wattenberg Company, LLC

     a Delaware limited liability company,

Kerr-McGee Gathering LLC

     a Colorado limited liability company,

MIGC, LLC

     a Delaware limited liability company,

Pinnacle Gas Treating, LLC

     a Texas limited liability company,

Western Gas Operating, LLC

     a Delaware limited liability company,

Western Gas Partners Finance Corporation,

     a Delaware corporation

Western Gas Wyoming LLC

     a Wyoming limited liability company,

WGR Operating, LP

     a Delaware limited partnership,

Schedule II

Subsidiaries

 

 

SCHEDULE III

SWINGLINE LOAN RATE CALCULATION

The rate of interest for a Swingline Loan shall be (a) the offer rate for Federal funds appearing
on the Bloomberg Professional Service website (BTMM page) (or any successor to or substitute for
such service, providing rate quotations comparable to those currently provided on such service, as
determined by the Administrative Agent from time to time for purposes of providing quotations of
the offer rates applicable to Federal funds for a term of one (1) Business Day) on the date the
Swingline Loan is funded at the time reviewed by the Administrative Agent for purposes of quoting a
rate to the Borrower for such Swingline Loan (or, if the Administrative Agent fails so to review
such page on such date, at 5:00 p.m., New York City time, on such date) plus (b) the applicable
Eurodollar Margin. In the event that part (a) of such rate is not available at any time on such
date for any reason, then part (a) of such rate will be the rate most recently available on such
page unless another rate shall be agreed to between the Administrative Agent and the Applicable
Borrower. The Borrower understands and agrees that the rate quoted from Bloomberg Professional
Service is a real-time rate that changes from time to time. The rate quoted by the Administrative
Agent and used for the purpose of setting the interest rate for a Swingline Loan will be the rate
on the screen of the Administrative Agent at the time of setting the rate and will not be an
average or composite of rates for that day.

Schedule III

Swingline Loan Rate Calculation

 

 

SCHEDULE IV

AFFILIATE AGREEMENTS

	1.	 	Contribution, Conveyance and Assumption Agreement by and among Western Gas Partners, LP,
Western Gas Holdings, LLC, Anadarko Petroleum Corporation, WGR Holdings, LLC, Western Gas
Resources, Inc., WGR Asset Holding Company LLC, Western Gas Operating, LLC and WGR Operating,
LP, dated as of May 14, 2008.
	 
	2.	 	Contribution Agreement, dated as of November 11, 2008, by and among Western Gas Resources,
Inc., WGR Asset Holding Company LLC, WGR Holdings, LLC, Western Gas Holdings, LLC, Western Gas
Partners, LP, Western Gas Operating, LLC and WGR Operating, LP.
	 
	3.	 	Contribution Agreement, dated as of July 10, 2009, by and among Western Gas Resources, Inc.,
WGR Asset Holding Company LLC, Anadarko Uintah Midstream, LLC, WGR Holdings, LLC, Western Gas
Holdings, LLC, WES GP, Inc., Western Gas Partners, LP, Western Gas Operating, LLC and WGR
Operating, LP.
	 
	4.	 	Contribution Agreement, dated as of January 29, 2010 by and among Western Gas Resources,
Inc., WGR Asset Holding Company LLC, Mountain Gas Resources LLC, WGR Holdings, LLC, Western
Gas Holdings, LLC, WES GP, Inc., Western Gas Partners, LP, Western Gas Operating, LLC and WGR
Operating, LP.
	 
	5.	 	Contribution Agreement, dated as of July 30, 2010, by and among Western Gas Resources, Inc.,
WGR Asset Holding Company LLC, WGR Holdings, LLC, Western Gas Holdings, LLC, WES GP, Inc.,
Western Gas Partners, LP, Western Gas Operating, LLC and WGR Operating, LP.
	 
	6.	 	Purchase and Sale Agreement, dated as of May 27, 2010, between WGR Asset Holding Company LLC
and WGR Operating, LP.
	 
	7.	 	First Amended and Restated Agreement of Limited Partnership of Western Gas Partners, LP,
dated May 14, 2008.
	 
	8.	 	Amendment No. 1 to First Amended and Restated Agreement of Limited Partnership of Western Gas
Partners, LP, dated as of December 19, 2008.
	 
	9.	 	Amendment No. 2 to First Amended and Restated Agreement of Limited Partnership of Western Gas
Partners, LP, dated as of April 15, 2009.
	 
	10.	 	Amendment No. 3 to First Amended and Restated Agreement of Limited Partnership of Western Gas
Partners, LP dated July 22, 2009.
	 
	11.	 	Amendment No. 4 to First Amended and Restated Agreement of Limited Partnership of Western Gas
Partners, LP dated January 29, 2010.

Schedule IV

Affiliate Agreements

 

 

	12.	 	Amendment No. 5 to First Amended and Restated Agreement of Limited Partnership of Western Gas
Partners, LP, dated August 2, 2010.
	 
	13.	 	Amended and Restated Limited Liability Company Agreement of Western Gas Holdings, LLC, dated
as of May 14, 2008.
	 
	14.	 	Term Loan Agreement due 2013 dated as of December 19, 2008 by and between Anadarko Petroleum
Corporation and Western Gas Partners, LP.
	 
	15.	 	Omnibus Agreement by and among Western Gas Partners, LP, Western Gas Holdings, LLC and
Anadarko Petroleum Corporation, dated as of May 14, 2008.
	 
	16.	 	Amendment No. 1 to Omnibus Agreement by and among Western Gas Partners, LP, Western Gas
Holdings, LLC, and Anadarko Petroleum Corporation, dated as of December 19, 2008.
	 
	17.	 	Amendment No. 2 to Omnibus Agreement by and among Western Gas Partners, LP, Western Gas
Holdings, LLC, and Anadarko Petroleum Corporation, dated as of July 22, 2009.
	 
	18.	 	Amendment No. 3 to Omnibus Agreement by and among Western Gas Partners, LP, Western Gas
Holdings, LLC, and Anadarko Petroleum Corporation, dated as of December 31, 2009.
	 
	19.	 	Amendment No. 4 to Omnibus Agreement by and among Western Gas Partners, LP, Western Gas
Holdings, LLC, and Anadarko Petroleum Corporation, dated as of January 29, 2010.
	 
	20.	 	Amendment No. 5 to Omnibus Agreement by and among Western Gas Partners, LP, Western Gas
Holdings, LLC, and Anadarko Petroleum Corporation, dated as of August 2, 2010.
	 
	21.	 	Tax Sharing Agreement by and among Anadarko Petroleum Corporation and Western Gas Partners,
LP, dated as of May 14, 2008.
	 
	22.	 	Anadarko Petroleum Corporation Fixed Rate Note due 2038.
	 
	23.	 	Gas Processing Agreement between Chipeta Processing LLC and Kerr-McGee Oil & Gas Onshore LP.
	 
	24.	 	Amended and Restated Limited Liability Company Agreement of Chipeta Processing LLC.
	 
	25.	 	Dew Gas Gathering Agreement between Anadarko Gathering Company LLC and Anadarko Petroleum
Corporation.
	 
	26.	 	Haley Gas Gathering Agreement between Anadarko Gathering Company LLC and Anadarko Petroleum
Corporation.

Schedule IV

Affiliate Agreements

 

 

	27.	 	Hugoton Gas Gathering Agreement between Anadarko Gathering Company LLC and Anadarko Petroleum
Corporation.
	 
	28.	 	Pinnacle Gas Gathering Agreement between Pinnacle Gas Treating LLC and Anadarko Petroleum
Corporation.
	 
	29.	 	Indemnification Agreements (the form of which is on file with the Securities and Exchange
Commission) by and between Western Gas Holdings, LLC, its Officers and Directors.
	 
	30.	 	Western Gas Partners, LP 2008 Long-Term Incentive Plan.
	 
	31.	 	Amended and Restated Western Gas Holdings, LLC Equity Incentive Plan.
	 
	32.	 	Commodity Price Swap Agreements (the form of which is on file with the Securities and
Exchange Commission) between the Partnership and Anadarko.

Schedule IV

Affiliate Agreements

 

 

EXHIBIT A

FORM OF NOTE

____________, 20__

     For value received, Western Gas Partners LP, a limited partnership formed under the laws of
the State of Delaware (the “Borrower”), promises to pay to __________ (the “Lender”) at the office
of Wells Fargo Bank, National Association specified in Section 2.13(a) of the Amended and Restated
Revolving Credit Agreement, dated as of March 24, 2011, among the Borrower, the Lender, the several
other banks party thereto, Wells Fargo Bank, National Association, as Administrative Agent, the
Documentation Agents named therein, and the Syndication Agent named therein, (as may be amended,
supplemented or modified from time to time hereafter, the “Agreement;” terms defined in the
Agreement shall have their defined meanings when used in this Note), in lawful money of the United
States of America the principal amount of ___________*___ DOLLARS ($___________*___) or, if less
than such principal amount, the aggregate unpaid principal amount of all Loans made by the Lender
to the undersigned pursuant to Section 2.01 of the Agreement. Such principal shall be payable on
the date or dates specified in Section 2.02 of, or elsewhere in, the Agreement.

     The undersigned further agrees to pay interest at said office, in like money, on the unpaid
principal amount owing hereunder from time to time from the date hereof at the rates specified in
Section 2.10 of the Agreement. Such interest shall be payable on the dates specified in Section
2.10 of the Agreement. The date, Type, Tranche and amount of each Loan made by the Lender pursuant
to Section 2.01 of the Agreement, each continuation of all or a portion thereof to another Type and
the date and amount of each payment of principal with respect thereto shall be endorsed by the
holder of this Note on Schedule A annexed hereto, which holder may add additional pages to
such Schedule. No failure to make or error in making any such endorsement as authorized hereby
shall affect the validity of the obligations of the Borrower hereunder or the validity of any
payment hereof made by the Borrower.

     This Note is one of the Notes referred to in the Agreement and is entitled to the benefits
thereof and is subject to prepayment in whole or in part as provided therein.

     Upon the occurrence of any one or more of the Events of Default specified in the Agreement,
all amounts then remaining unpaid on this Note may be declared to be immediately due and payable as
provided in the Agreement.

     THIS NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH AND BE GOVERNED BY THE LAW OF THE STATE OF NEW
YORK.

Exhibit A-1

Form of Note

 

 

	 	 	 	 	 
	 	WESTERN GAS PARTNERS, LP

 	 
	 	By: Western Gas Holdings, LLC,
       its general partner
 	 
	 	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Exhibit A-2

Form of Note

 

 

SCHEDULE A

LOANS AND REPAYMENTS

	 	 	 	 	 	 	 	 	 
	 	 	 	 	 	 	Amount of	 	 
	Amount of Loan	 	Type of Loan	 	Interest Rate	 	Principal Repair	 	Notation Made by
	
	 	 
	 	 
	 	 
	 	 

Exhibit A-3

Form of Note

 

 

EXHIBIT B

[FORM OF] ASSIGNMENT AND ASSUMPTION

     Reference is made to the Amended and Restated Revolving Credit Agreement dated as of March 24,
2011 (as amended and in effect on the date hereof, the “Credit Agreement”), among Western Gas
Partners, LP, the Lenders named therein, Wells Fargo Bank, National Association, as Administrative
Agent, the Documentation Agents named therein, and the Syndication Agent named therein. Terms
defined in the Credit Agreement are used herein with the same meanings.

     The Assignor named as such below hereby sells and assigns, without recourse, to the Assignee
named as such on the reverse hereof, and the Assignee hereby purchases and assumes, without
recourse, from the Assignor, effective as of the Assignment Date set forth below, the interests set
forth below (the “Assigned Interest”) in the Assignor’s rights and obligations under the Credit
Agreement, including, without limitation, the interests set forth below in the Commitment of the
Assignor on the Assignment Date and Loans owing to the Assignor which are outstanding on the
Assignment Date, together with the participations in Letters of Credit and LC Disbursements held by
the Assignor on the Assignment Date, but excluding accrued interest and fees to and excluding the
Assignment Date. The Assignee hereby acknowledges receipt of a copy of the Credit Agreement. From
and after the Assignment Date (i) the Assignee shall be a party to and be bound by the provisions
of the Credit Agreement and, to the extent of the Assigned Interest, have the rights and
obligations of a Lender thereunder, and (ii) the Assignor shall, to the extent of the Assigned
Interest, relinquish its rights, and be released from its obligations under the Credit Agreement
arising thereafter.

     This Assignment and Assumption is being delivered to the Administrative Agents together with
(i) if the Assignee is a Foreign Lender, any documentation required to be delivered by the Assignee
pursuant to Section 2.16(e) of the Credit Agreement, duly completed and executed by the Assignee,
and (ii) if the Assignee is not already a Lender under the Credit Agreement, an Administrative
Questionnaire in the form supplied by the Administrative Agent, duly completed by the Assignee. The
[Assignee/Assignor] shall pay the fee payable to the Administrative Agent pursuant to Section
10.04(b)(ii)(C) of the Credit Agreement.

     This Assignment and Assumption shall be governed by and construed in accordance with the laws
of the State of New York.

Date of Assignment:

Legal Name of Assignor:

(“Assignor”)

Legal Name of Assignee:

(“Assignee”)

Assignee’s Address for Notices:

Effective Date of Assignment

(“Assignment Date”):

Exhibit B-1

Form of Assignment and Assumption

 

 

	 	 	 	 	 
	 	 	 	 	Percentage Assigned of Facility/
	 	 	 	 	Commitment (set forth, to at least
	 	 	 	 	8 decimals, as a percentage of the
	 	 	 	 	Facility and the aggregate
	Facility	 	Principal Amount Assigned	 	Commitments of all Lenders thereunder)
	Commitment Assigned:
	 	$
	 	%

Loans:

     The terms set forth above and on the reverse side hereof are hereby agreed to:

	 	 	 	 	 
	 	[Name of Assignor], as Assignor

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	[Name of Assignee], as Assignee

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Exhibit B-2

Form of Assignment and Assumption

 

 

	 	 	 	 	 
	 	The undersigned hereby consent to the within assignment:1

WESTERN GAS PARTNERS, LP,

as Borrower

 	 
	 	By:  	Western Gas Holdings, LLC, 
its general partner
 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	WELLS FARGO BANK, NATIONAL ASSOCIATION

as Administrative Agent and as Issuing Bank

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

 

			
	1	 	Consents to be included to the extent
required by Section 10.04(b) of the Credit Agreement.

Exhibit B-3

Form of Assignment and Assumption

 

 

EXHIBIT
C

FORM OF NOTICE OF COMMITMENT INCREASE

[Date]

WELLS FARGO BANK, NATIONAL ASSOCIATION, as Administrative Agent

1000 Louisiana Street, 9th Floor

Houston, TX 77002

Attention: Christina Faith

Ladies and Gentlemen:

     The undersigned, Western Gas Partners, LP, refers to the Amended and Restated Revolving Credit
Agreement dated as of March 24, 2011 (as amended, supplemented or otherwise modified from time to
time, the “Credit Agreement”, with terms defined in the Credit Agreement and not otherwise defined
herein being used herein as therein defined) among Western Gas Partners, LP, as the Borrower, Wells
Fargo Bank, National Association, as Administrative Agent, and the Lenders and other Agents party
thereto, and hereby give you notice, irrevocably, pursuant to Section 2.09(a) of the Credit
Agreement that the undersigned hereby request that the aggregate amount of the Lenders’ Commitments
be increased and the CI Lenders agree to provide Commitments under the Credit Agreement, and in
that connection sets forth below the information relating to such proposed Commitment Increase as
required by Section 2.09(a) of the Credit Agreement:

     (a) the effective date of such increase of aggregate total amount of the Lenders’ Commitments
is ;

     (b) the amount of the requested increase of the aggregate total Lenders’ Commitments is
$;[$10,000,000 minimum];

     (c) the CI Lenders, which have agreed with the Borrower to provide their respective
Commitments, are: [INSERT NAMES OF THE CI LENDERS]; and

     (d) set forth on Annex I hereto is the amount of the respective Commitments of all Reducing
Percentage Lenders and all CI Lenders on the effective date of such Commitment Increase.

     Delivery of an executed counterpart of this Notice of Commitment Increase by telecopier shall
be effective as delivery of an original executed counterpart of this Notice of Commitment Increase.

Exhibit C-1

Form of Notice of Commitment Increase

 

 

	 	 	 	 	 
	 	Very truly yours,

WESTERN GAS PARTNERS, LP

 	 
	 	By:  	Western Gas Holdings, LLC, 
its general partner
 	 
	 	 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Exhibit C-2

Form of Notice of Commitment Increase

 

 

EXHIBIT
D

FORM OF

AMENDED AND RESTATED GUARANTY

     THIS AMENDED AND RESTATED GUARANTY (this “Guaranty”), dated as of [__________], is made by
each of the signatories hereto (each of the signatories hereto, together with any other subsidiary
of the Borrower that becomes a party hereto from time to time after the date hereof, the
“Obligors”), in favor of WELLS FARGO BANK, NATIONAL ASSOCIATION, as administrative agent (in such
capacity, the “Administrative Agent”) for the financial institutions (the “Lenders”) now or
hereafter signatory to the Credit Agreement referred to below.

R E C I T A L S

     WESTERN GAS PARTNERS, LP, a Delaware limited partnership (the “Borrower”), certain of the
Lenders, the Administrative Agent and the other parties thereto are party to that certain Revolving
Credit Agreement, dated as of October 29, 2009, among the Borrower, the lenders party thereto,
Wells Fargo Bank, National Association, as administrative agent for the lenders, and the other
agents and parties referred to therein, as amended by that certain First Amendment to Revolving
Credit Agreement dated as of May 5, 2010 (as amended or supplemented to the date hereof, the
“Original Credit Agreement”), pursuant to which the lenders party thereto made certain loans and
other extensions of credit and provided certain commitments to the Borrower.

     In order to induce the lenders under the Original Credit Agreement to enter into the Original
Credit Agreement, each of the Obligors signatory hereto entered into, or subsequently acceded to, a
Guaranty of even date therewith (as amended or supplemented to the date hereof, the “Existing
Guaranty”).

     The Lenders have severally agreed to make Loans to and to participate in Letters of Credit
issued for the account of the Borrower upon the terms and subject to the conditions set forth in
the Amended and Restated Revolving Credit Agreement dated as of even date herewith (as such may be
amended, supplemented or otherwise modified from time to time, the “Credit Agreement”), among the
Borrower, the Lenders, the Administrative Agent for the Lenders, and the other Agents and parties
signatory thereto.

     The Obligors are each direct or indirect subsidiaries of the Borrower.

     The Borrower and the Obligors are engaged in related businesses, and therefore each Obligor
will derive substantial direct and indirect benefit from the making of the extensions of credit to
the Borrower under the Credit Agreement.

     The Loans are necessary and convenient to the conduct, promotion and attainment of the
business of the Borrower and each Obligor.

Exhibit D

Form of Guaranty Agreement

 

 

     It is a condition precedent to the obligation of the Lenders to make their respective
extensions of credit to the Borrower under the Credit Agreement that each Obligor shall have
executed and delivered this Guaranty to the Administrative Agent for the ratable benefit of the
Lenders in order to amend and restate the Existing Guaranty.

     Now, therefore, in consideration of the premises herein and to induce the Administrative Agent
and the Lenders to enter into the Credit Agreement and to induce the Lenders to make their
respective extensions of credit to the Borrower thereunder, each Obligor hereby agrees with the
Administrative Agent, for the ratable benefit of the Lenders, as follows:

SECTION 1

DEFINITIONS

     Section 1.01 Defined Terms. Unless otherwise defined herein, each term defined in the
Credit Agreement and used herein shall have the meaning given to it in the Credit Agreement.

     “Assumption Agreement” means an Assumption Agreement substantially in the form attached hereto
as Schedule 2.

     “Borrower’s Obligations” means the collective reference to all obligations of the Borrower and
its Subsidiaries under the Guaranteed Documents, including, without limitation, the unpaid
principal of and interest on the Loans and the LC Exposure and all other obligations and
liabilities of the Borrower (including, without limitation, interest accruing at the then
applicable rate provided in the Credit Agreement after the maturity of the Loans and LC Exposure
and interest accruing after the filing of any petition in bankruptcy, or the commencement of any
insolvency, reorganization or like proceeding, relating to the Borrower, whether or not a claim for
post-filing or post-petition interest is allowed in such proceeding) to the Administrative Agent or
any Lender, whether absolute or contingent, due or to become due, or now existing or hereafter
incurred, which may arise under, out of, or in connection with, the Guaranteed Documents, whether
on account of principal, interest, reimbursement obligations, payments in respect of an early
termination date, reasonable fees, indemnities, reasonable costs, reasonable expenses or otherwise
(including, without limitation, all reasonable fees and disbursements of counsel to the
Administrative Agent or any Lender that are required to be paid by the Borrower pursuant to the
terms of any Guaranteed Documents).

     “Guaranteed Creditor” means the collective reference to the Administrative Agent, the Lenders
and the Affiliates of Lenders that are parties to Lender Hedging Agreements or Treasury Management
Agreements.

     “Guaranteed Document” means the collective reference to this Guaranty, the Credit Agreement,
any Note, the other Loan Documents, any other document made, delivered or given in connection with
any of the foregoing, Lender Hedging Agreements and any Treasury Management Agreement.

     The words “hereof,” “herein” and “hereunder” and words of similar import when used in this
Guaranty shall refer to this Guaranty as a whole and not to any particular provision of this
Guaranty, and section and paragraph references are to this Guaranty unless otherwise specified.

Exhibit D -2-

Form of Guaranty Agreement

 

 

     The meanings given to terms defined herein shall be equally applicable to both the singular
and plural forms of such terms.

SECTION 2

GUARANTY

     Section 2.01 Guaranty.

          (a) Subject to the provisions of Section 2.01(b), each Obligor hereby, jointly and severally,
unconditionally and irrevocably, guarantees to each Guaranteed Creditor and their respective
successors, indorsees, transferees and assigns, the prompt and complete payment and performance by
the Borrower or its Subsidiaries when due (whether at the stated maturity, by acceleration or
otherwise) of the Borrower’s Obligations.

          (b) Anything herein or in any other Loan Document to the contrary notwithstanding, the maximum
liability of each Obligor hereunder and under the other Loan Documents shall in no event exceed the
amount which can be guaranteed by such Obligor under applicable federal and state laws relating to
the insolvency of debtors.

          (c) Each Obligor further agrees to pay any and all expenses (including, without limitation,
all reasonable fees and disbursements of counsel) which may be paid or incurred by any Guaranteed
Creditor in enforcing, or obtaining advice of counsel in respect of, any rights with respect to, or
collecting, any or all of the Borrower’s Obligations and/or enforcing any rights with respect to,
or collecting against, an Obligor under this Guaranty. This Guaranty shall remain in full force
and effect until the Borrower’s Obligations are paid in full (or, in the case of any LC Exposure,
cash collateralized in accordance with Section 2.05(j) of the Credit Agreement) and the total
Commitments are terminated, or until a release of this Guaranty is made pursuant to Section 2.08,
notwithstanding that from time to time prior thereto no amounts may be outstanding under the Credit
Agreement.

          (d) Each Obligor agrees that the Borrower’s Obligations may at any time and from time to time
exceed the amount of the liability of such Obligor hereunder without impairing this Guaranty or
affecting the rights and remedies of any Guaranteed Creditor hereunder.

          (e) No payment or payments made by the Borrower, any Obligor, any other guarantor or any other
Person or received or collected by a Guaranteed Creditor from the Borrower, an Obligor, any other
guarantor or any other Person by virtue of any action or proceeding or any set-off or appropriation
or application at any time or from time to time in reduction of or in payment of the Borrower’s
Obligations shall be deemed to modify, reduce, release or otherwise affect the liability of any
Obligor hereunder which shall, notwithstanding any such payment or payments (other than payments
made by the Borrower or an Obligor in respect of the Borrower’s Obligations or payments received or
collected from an Obligor in respect of the Borrower’s Obligations), remain liable for the
Borrower’s Obligations up to the maximum liability of any Obligor hereunder until the Borrower’s
Obligations are paid in full (or, in the case of any LC Exposure, cash collateralized in accordance
with Section 2.05(j) of the Credit Agreement) and the total Commitments are terminated.

Exhibit D -3-

Form of Guaranty Agreement

 

 

          (f) Each Obligor agrees that whenever, at any time, or from time to time, it shall make any
payment to any Guaranteed Creditor on account of its liability hereunder, it will notify the
Administrative Agent in writing that such payment is made under this Guaranty for such purpose.

     Section 2.02 Right of Set-off. During the continuance of any Event of Default, each
Obligor hereby irrevocably authorizes each Lender at any time and from time to time without prior
notice to such Obligor, any such notice being expressly waived by each Obligor, to set-off and
appropriate and apply any and all deposits (general or special, time or demand, provisional or
final, but excluding deposits held by such Obligor as a fiduciary for others), in any currency, and
any other credits, indebtedness or claims, in any currency, in each case whether direct or
indirect, absolute or contingent, matured or unmatured, at any time held or owing by such Lender to
or for the credit or the account of such Obligor, or any part thereof in such amounts as such
Lender may elect, against and on account of the obligations and liabilities of such Obligor to such
Lender hereunder and claims of every nature and description of such Lender against such Obligor, in
any currency, whether arising hereunder, under the Credit Agreement, any Note, any Loan Documents
or otherwise, as such Lender may elect, whether or not the Administrative Agent or any Lender has
made any demand for payment and although such obligations, liabilities and claims may be contingent
or unmatured. Such Lender shall notify the relevant Obligor and the Administrative Agent promptly
of any such set-off and the application made by such Lender, provided that the failure to give such
notice shall not affect the validity of such set-off and application. The rights of each Lender
under this subsection are in addition to other rights and remedies (including, without limitation,
other rights of set-off) which the Administrative Agent or such Lender may have.

     Section 2.03 No Subrogation. Notwithstanding any payment or payments made by an
Obligor hereunder or any set-off or application of funds of an Obligor by any Lender, an Obligor
shall not be entitled to be subrogated to any of the rights of the Administrative Agent or any
Lender against the Borrower or any collateral security or guarantee or right of offset held by any
Lender for the payment of the Borrower’s Obligations until all amounts owing to the Guaranteed
Creditor by the Borrower or its Subsidiaries on account of the Borrower’s Obligations are paid in
full (or, in the case of any LC Exposure, cash collateralized in accordance with Section 2.05(j) of
the Credit Agreement) and the total Commitments are terminated, nor shall an Obligor seek or be
entitled to seek any contribution or reimbursement from the Borrower in respect of payments made by
an Obligor hereunder until all amounts owing to the Guaranteed Creditor by the Borrower or its
Subsidiaries on account of the Borrower’s Obligations are paid in full (or, in the case of any LC
Exposure, cash collateralized in accordance with Section 2.05(j) of the Credit Agreement) and the
total Commitments are terminated. If any amount shall be paid to an Obligor on account of such
subrogation rights at any time when all of the Borrower’s Obligations shall not have been paid in
full (or, in the case of any LC Exposure, cash collateralized in accordance with Section 2.05(j) of
the Credit Agreement), such amount shall be held by such Obligor in trust for the Administrative
Agent and the Lenders, segregated from other funds of such Obligor, and shall, forthwith upon
receipt by such Obligor, be turned over to the Administrative Agent in the exact form received by
such Obligor (duly indorsed by such Obligor to the Administrative Agent, if required), to be
applied against the Borrower’s Obligations, whether matured or unmatured, in such order as the
Administrative Agent may determine.

Exhibit D -4-

Form of Guaranty Agreement

 

 

     Section 2.04
Amendments, etc. with respect to the Borrower’s Obligations; Waiver
of Rights. Each Obligor shall remain obligated hereunder notwithstanding that, without any
reservation of rights against any Obligor and without notice to or further assent by any Obligor:
(a) any demand for payment of any of the Borrower’s Obligations made by any Guaranteed Creditor may
be rescinded by such party and any of the Borrower’s Obligations continued; (b) the Borrower’s
Obligations, or the liability of any other party upon or for any part thereof, or any collateral
security or guarantee therefor or right of offset with respect thereto, may, from time to time, in
whole or in part, be renewed, extended, amended, modified, accelerated, compromised, waived,
surrendered or released by any Guaranteed Creditor; (c) the Credit Agreement, the Notes and the
other Loan Documents and any other documents executed and delivered in connection therewith may be
amended, modified, supplemented or terminated, in whole or in part, as the Administrative Agent may
deem advisable from time to time; and (d) any collateral security, guarantee or right of offset at
any time held by any Guaranteed Creditor for the payment of the Borrower’s Obligations may be sold,
exchanged, waived, surrendered or released. No Guaranteed Creditor shall have any obligation to
protect, secure, perfect or insure any Lien at any time held by it as security for the Borrower’s
Obligations or for this Guaranty or any property subject thereto. When making any demand hereunder
against an Obligor, the Administrative Agent or any Lender may, but shall be under no obligation
to, make a similar demand on the Borrower, and any failure by such Guaranteed Creditor to make any
such demand or to collect any payments from the Borrower or any release of the Borrower shall not
relieve an Obligor in respect of which a demand or collection is not made, and shall not impair or
affect the rights and remedies, express or implied, or as a matter of law, of any Guaranteed
Creditor against an Obligor. For the purposes hereof “demand” shall include the commencement and
continuance of any legal proceedings.

     Section 2.05 Guaranty Absolute and Unconditional. Each Obligor waives any and all
notice of the creation, renewal, extension or accrual of any of the Borrower’s Obligations and
notice of or proof of reliance by any Guaranteed Creditor upon this Guaranty or acceptance of this
Guaranty. The Borrower’s Obligations, and any of them, shall conclusively be deemed to have been
created, contracted or incurred, or renewed, extended, amended or waived, in reliance upon this
Guaranty. All dealings between the Borrower and any Obligor, on the one hand, and any Guaranteed
Creditor, on the other hand, likewise shall be conclusively presumed to have been had or
consummated in reliance upon this Guaranty. Each Obligor waives diligence, presentment, protest,
demand for payment and notice of default or nonpayment to or upon the Borrower with respect to the
Borrower’s Obligations. Each Obligor understands and agrees that this Guaranty shall be construed
as a continuing, absolute and unconditional guarantee of payment without regard to (a) the
validity, regularity or enforceability of any Guaranteed Document, any of the Borrower’s
Obligations or any other collateral security therefor or guarantee or right of offset with respect
thereto at any time or from time to time held by any Guaranteed Creditor, (b) any defense, set-off
or counterclaim (other than a defense of payment or performance) which may at any time be available
to or be asserted by the Borrower against any Guaranteed Creditor, or (c) any other circumstance
whatsoever (with or without notice to or knowledge of the Borrower or any Obligor) which
constitutes, or might be construed to constitute, an equitable or legal discharge of the Borrower
for the Borrower’s Obligations, or of any Obligor under this Guaranty, in bankruptcy or in any
other instance. When pursuing its rights and remedies hereunder against any Obligor, each
Guaranteed Creditor may, but shall be under no obligation to, pursue such rights and remedies as it
may have against the Borrower or

Exhibit D -5-

Form of Guaranty Agreement

 

 

any other Person or against any collateral security or guarantee for the Borrower’s
Obligations or any right of offset with respect thereto, and any failure by any Guaranteed Creditor
to pursue such other rights or remedies or to collect any payments from the Borrower or any such
other Person or to realize upon any such collateral security or guarantee or to exercise any such
right of offset, or any release of the Borrower or any such other Person or any such collateral
security, guarantee or right of offset, shall not relieve any Obligor of any liability hereunder,
and shall not impair or affect the rights and remedies, whether express, implied or available as a
matter of law, of any Guaranteed Creditor against any Obligor. This Guaranty shall remain in full
force and effect and be binding in accordance with and to the extent of its terms upon each Obligor
and the successors and assigns thereof, and shall inure to the benefit of each Guaranteed Creditor,
and their respective successors, indorsees, transferees and assigns, until all the Borrower’s
Obligations and the obligations of each Obligor under this Guaranty shall have been satisfied by
payment in full in cash (or, in the case of any LC Exposure, cash collateralized in accordance with
Section 2.05(j) of the Credit Agreement) and the total Commitments shall be terminated.

     Section 2.06 Reinstatement. This Guaranty shall continue to be effective, or be
reinstated, as the case may be, if at any time payment, or any part thereof, of any of the
Borrower’s Obligations is rescinded or must otherwise be restored or returned by the Administrative
Agent or any Lender upon the insolvency, bankruptcy, dissolution, liquidation or reorganization of
the Borrower or any Obligor, or upon or as a result of the appointment of a receiver, intervenor or
conservator of, or trustee or similar officer for, the Borrower or any Obligor or any substantial
part of its property, or otherwise, all as though such payments had not been made.

     Section 2.07 Payments. Each Obligor hereby guarantees that payments hereunder will be
paid to the Administrative Agent, for the ratable benefit of the Lenders, without set-off,
deduction or counterclaim, in dollars, in immediately available funds, at the offices of the
Administrative Agent specified in Section 10.01 of the Credit Agreement.

     Section 2.08 Release. Upon the earlier of (i) the Investment Grade Rating Date and (ii) the
termination of the total Commitments and the irrevocable and indefeasible payment of the Borrower’s
Obligations (or, in the case of any LC Exposure, cash collateralized in accordance with Section
2.05(j) of the Credit Agreement), the Administrative Agent, on behalf of the Guaranteed Creditor,
shall execute a release of the Obligors from any further obligations under this Guaranty or with
regard to the Borrower’s Obligations.

SECTION 3

REPRESENTATIONS AND WARRANTIES

     Section 3.01 Representations and Warranties. Each Obligor hereby represents and
warrants that the representations and warranties set forth in Article III of the Credit Agreement
as they relate to such Obligor or to the other Loan Documents to which such Obligor is a party,
each of which is hereby incorporated herein by reference, are true and correct, and each Guaranteed
Creditor shall be entitled to rely on each of them as if they were fully set forth herein, provided
that each reference in each such representation and warranty to the Borrower’s knowledge shall, for
the purposes of this Section 3, be deemed to be a reference to such Obligor’s knowledge.

Exhibit D -6-

Form of Guaranty Agreement

 

 

     Each Obligor agrees that the foregoing representations and warranties shall be deemed to have
been made by such Obligor on the date of (a) each Loan or (b) the issuance of any Letter of Credit
under the Credit Agreement (except to the extent that such representations and warranties are
expressly made only as of an earlier date, in which case such representations and warranties shall
have been true and correct on and as of such earlier date).

SECTION 4

COVENANTS

     Section 4.01 [Intentionally Omitted].

SECTION 5

MISCELLANEOUS

     Section 5.01 Authority of Administrative Agent. Each Obligor acknowledges that the
rights and responsibilities of the Administrative Agent under this Guaranty with respect to any
action taken by the Administrative Agent or the exercise or non-exercise by the Administrative
Agent of any option, right, request, judgment or other right or remedy provided for herein or
resulting or arising out of this Guaranty shall, as between the Administrative Agent and the
Lenders, be governed by the Credit Agreement and by such other agreements with respect thereto as
may exist from time to time among them, but, as between the Administrative Agent and any Obligor,
the Administrative Agent shall be conclusively presumed to be acting as agent for the Lenders with
full and valid authority so to act or refrain from acting in the manner set forth in Article IX of
the Credit Agreement, and the Obligors shall not be under any obligation, or entitlement, to make
any inquiry respecting such authority.

     Section 5.02 Notices. All notices and other communications provided for herein shall
be given in the manner and subject to the terms of Section 10.01 of the Credit Agreement; provided
that any such notice, request or demand to or upon an Obligor shall be addressed to such Obligor at
its notice address set forth on Schedule 1.

     Section 5.03 Counterparts. This Guaranty may be executed in counterparts (and by
different parties hereto on different counterparts), each of which shall constitute an original,
but all of which when taken together shall constitute a single contract.

     Section 5.04 Severability. Any provision of this Guaranty which is prohibited or
unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of
such prohibition or unenforceability without invalidating the remaining provisions hereof, and any
such prohibition or unenforceability in any jurisdiction shall not invalidate or render
unenforceable such provision in any other jurisdiction.

     Section 5.05 Integration. This Guaranty represents the agreement of each Obligor with
respect to the subject matter hereof and there are no promises, undertakings, representations or
warranties by the Administrative Agent or any Lender relative to the subject matter hereof not
reflected herein.

Exhibit D -7-

Form of Guaranty Agreement

 

 

     Section 5.06 Amendments in Writing; No Waiver; Cumulative Remedies.

          (a) None of the terms or provisions of this Guaranty may be waived, amended, supplemented or
otherwise modified except by a written instrument executed by each Obligor and the Administrative
Agent in accordance with Section 10.02 of the Credit Agreement.

          (b) No Guaranteed Creditor shall by any act (except by a written instrument pursuant to
Section 5.06(a) hereof), delay, indulgence, omission or otherwise be deemed to have waived any
right or remedy hereunder or to have acquiesced in any Default or Event of Default or in any breach
of any of the terms and conditions hereof. No failure to exercise and no delay in exercising, on
the part of any Guaranteed Creditor, any right, remedy, power or privilege hereunder shall operate
as a waiver thereof; nor shall any single or partial exercise of any right, remedy, power or
privilege hereunder preclude any other or further exercise thereof or the exercise of any other
right, remedy, power or privilege. A waiver by any Guaranteed Creditor of any right or remedy
hereunder on any one occasion shall not be construed as a bar to any right or remedy which such
Guaranteed Creditor would otherwise have on any future occasion.

          (c) The rights and remedies herein provided are cumulative and not exclusive of any other
rights, remedies, powers and privileges provided by law.

     Section 5.07 Loan Documents. Each Obligor agrees that this Guaranty shall constitute
a “Loan Document” under the Credit Agreement.

     Section 5.08 Section Headings. The section headings used in this Guaranty are for
convenience of reference only and are not to affect the construction hereof or be taken into
consideration in the interpretation hereof.

     Section 5.09 Successors and Assigns. This Guaranty shall be binding upon the
successors and assigns of each Obligor and shall inure to the benefit of the Administrative Agent
and the Lenders and their successors and assigns.

     Section 5.10 GOVERNING LAW. THIS GUARANTY AND THE RIGHTS AND OBLIGATIONS OF
THE PARTIES HEREUNDER SHALL BE CONSTRUED IN ACCORDANCE WITH AND GOVERNED BY THE LAW OF THE STATE OF
NEW YORK.

	 	 	Section 5.11 Submission to Jurisdiction.

          (a) Each Obligor hereby irrevocably and unconditionally submits for itself and its property,
to the nonexclusive jurisdiction of the courts of the Supreme Court of the State of New York,
sitting in New York County and of the United States District Court of the Southern District of New
York, and any appellate court from either thereof, in any action or proceeding arising out of or
relating to this Guaranty, or for recognition or enforcement of any judgment, and each of the
parties hereto hereby irrevocably and unconditionally agrees that all claims in respect of any such
action or proceeding may be heard and determined in such New York State court or, to the extent
permitted by law, in such Federal court. Each of the parties hereto agrees that a final judgment
in any such action or proceeding shall be conclusive and may be enforced

Exhibit D -8-

Form of Guaranty Agreement

 

 

in other jurisdictions by suit on the judgment or in any other manner provided by law.
Nothing in this Guaranty shall affect any right that any Guaranteed Creditor or any of the other
agents may otherwise have to bring any action or proceeding relating to this Guaranty against any
Obligor or its properties in the courts of any jurisdiction.

          (b) Each party to this Guaranty irrevocably consents to service of process in the manner
provided for notices in Section 10.01 of the Credit Agreement. Nothing in this Guaranty will
affect the right of any party to this Agreement to serve process in any other manner permitted by
law.

	 	 	Section 5.12 Acknowledgments. Each Obligor hereby acknowledges that:

          (a) it has been advised by counsel in the negotiation, execution and delivery of this Guaranty
and the other Loan Documents;

          (b) no Guaranteed Creditor has any fiduciary relationship with or duty to such Obligor arising
out of or in connection with this Agreement or any of the other Guaranteed Documents, and the
relationship between the Guaranteed Creditor, on one hand, and such Obligor, on the other hand, in
connection herewith or therewith is solely that of guarantor and creditor; and

          (c) no joint venture is created hereby or by the other Guaranteed Documents or otherwise
exists by virtue of the transactions contemplated hereby among the Guaranteed Creditor or among the
Borrower and the Guaranteed Creditor.

     Section 5.13 WAIVERS OF JURY TRIAL. EACH PARTY HERETO HEREBY WAIVES, TO THE FULLEST EXTENT
PERMITTED BY APPLICABLE LAW, ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN ANY LEGAL PROCEEDING
DIRECTLY OR INDIRECTLY ARISING OUT OF OR RELATING TO THIS GUARANTY OR THE TRANSACTIONS CONTEMPLATED
HEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY OTHER THEORY). EACH PARTY HERETO (a) CERTIFIES THAT
NO REPRESENTATIVE, AGENT OR ATTORNEY OF ANY OTHER PARTY HAS REPRESENTED, EXPRESSLY OR OTHERWISE,
THAT SUCH OTHER PARTY WOULD NOT, IN THE EVENT OF LITIGATION, SEEK TO ENFORCE THE FOREGOING WAIVER
AND (b) ACKNOWLEDGES THAT IT AND THE OTHER PARTIES HERETO HAVE BEEN INDUCED TO ENTER INTO THIS
AGREEMENT BY, AMONG OTHER THINGS, THE MUTUAL WAIVERS AND CERTIFICATIONS IN THIS SECTION.

     Section 5.14 Additional Obligors. Each Subsidiary of the Borrower that is required to become
a party to this Guaranty pursuant to Section 4.06 of the Credit Agreement shall become an
Obligor for all purposes of this Guaranty upon execution and delivery by such Subsidiary of
an Assumption Agreement and shall thereafter have the same rights, benefits and obligations as an
Obligor party hereto on the date hereof.

     Section 5.15 Amendment and Restatement. Each of the undersigned Obligors are obligors under
the Existing Guaranty, or are otherwise obligated with respect to the outstanding Indebtedness and
obligations under the Original Credit Agreement, as of the date hereof. Each

Exhibit D -9-

Form of Guaranty Agreement

 

 

undersigned Obligor hereby acknowledges, represents, warrants and agrees that this Guaranty
and the obligations hereunder amend, restate, renew and extend (and do not novate or extinguish)
any and all obligations and Indebtedness of such undersigned Obligor under the Existing Guaranty,
and the terms and provisions hereof supersede the terms and provisions thereof.

[Remainder of page intentionally left blank; signature pages follow]

Exhibit D -10-

Form of Guaranty Agreement

 

 

     IN WITNESS WHEREOF, each of the undersigned has caused this Guaranty to be duly executed and
delivered by its duly authorized officer as of the day and year first above written.

	 	 	 	 	 
	OBLIGORS:	ANADARKO GATHERING COMPANY LLC

ANADARKO WATTENBERG COMPANY, LLC

KERR-MCGEE GATHERING LLC

MIGC LLC

PINNACLE GAS TREATING LLC

WESTERN GAS WYOMING, L.L.C.

 	 
	 	By:  	WGR Operating, LP, as sole member
 	 
	 	 	 
	 	By:  	
Western Gas Operating, LLC, 
its general partner
 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	WESTERN GAS OPERATING, LLC

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	WESTERN GAS PARTNERS FINANCE

CORPORATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 
	 	WGR OPERATING, LP

 	 
	 	By:  	Western Gas Operating, LLC,
 its general partner
 	 
	 	 	 
	 	By:  	
 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Exhibit D -11-

Form of Guaranty Agreement

 

 

Acknowledged and Agreed to as

of the date hereof by:

	 	 	 	 	 
	ADMINISTRATIVE AGENT:	
WELLS FARGO BANK, NATIONAL

ASSOCIATION

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Exhibit D -12-

Form of Guaranty Agreement

 

 

SCHEDULE 1

ADDRESS FOR NOTICES

For each of the Obligors named herein:

1201 Lake Robbins Drive

The Woodlands, TX 77380

Attn: Senior Vice President and CFO

Facsimile: (832) 636-0278

Exhibit D Schedule 1

Form of Guaranty Agreement

 

 

SCHEDULE
2

ASSUMPTION AGREEMENT

     ASSUMPTION AGREEMENT, dated as of [       ], 20[ ], made by [       ], a
[       ] (the “Additional Obligor”), in favor of WELLS FARGO BANK, NATIONAL
ASSOCIATION, as administrative agent (in such capacity, the “Administrative Agent”) for the
Guaranteed Creditor (used herein as defined in the Guaranty Agreement referred to below). All
capitalized terms not defined herein shall have the meaning ascribed to them in the Credit
Agreement referred to below.

W I T N E S S E T H:

     WHEREAS, Western Gas Partners, LP, a Delaware limited partnership (the “Borrower”),
the Administrative Agent, and certain financial institutions as agents and lenders have entered
into that certain Amended and Restated Revolving Credit Agreement, dated as of March 24, 2011 (as
amended, restated, supplemented or otherwise modified from time to time, the “Credit
Agreement”);

     WHEREAS, in connection with the Credit Agreement, the Borrower and certain of its Affiliates
(other than the Additional Obligor) have entered into a Guaranty, dated as of March 24, 2011 (as
amended, restated, supplemented or otherwise modified from time to time, the “Guaranty
Agreement”) in favor of the Administrative Agent for the benefit of the Guaranteed Creditor;

     WHEREAS, the Credit Agreement requires the Additional Obligor to become a party to the
Guaranty Agreement; and

     WHEREAS, the Additional Obligor has agreed to execute and deliver this Assumption Agreement in
order to become a party to the Guaranty Agreement;

     NOW, THEREFORE, IT IS AGREED:

Exhibit D Schedule 2 -1-

Form of Guaranty Agreement

 

 

     1. Guaranty Agreement. By executing and delivering this Assumption Agreement, the
Additional Obligor, as provided in Section 5.14 of the Guaranty Agreement, hereby becomes a party
to the Guaranty Agreement as an Obligor thereunder with the same force and effect as if originally
named therein as an Obligor and, without limiting the generality of the foregoing, hereby expressly
assumes all obligations and liabilities of an Obligor thereunder. The Additional Obligor hereby
represents and warrants that each of the representations and warranties contained in Section 3 of
the Guaranty Agreement is true and correct as to such Person on and as the date hereof (after
giving effect to this Assumption Agreement) as if made on and as of such date.

     2. Governing Law. This Assumption Agreement shall be governed by, and construed in
accordance with, the laws of the State of New York.

     IN WITNESS WHEREOF, the undersigned has caused this Assumption Agreement to be duly executed
and delivered as of the date first above written.

	 	 	 	 	 
	 	[ADDITIONAL OBLIGOR]

 	 
	 	By:  	 	 
	 	 	Name:  	 	 
	 	 	Title:  	 	 
	 

Exhibit D Schedule 2 -2-

Form of Guaranty Agreement

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