Document:

Security Agreement

 Exhibit 4.3 
 SECURITY AGREEMENT 
 dated as of 

March 8, 2011 

between 
 UNITED
REFINING COMPANY 
 and 
 THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A. 
 as Collateral Agent 

 TABLE OF CONTENTS 

 
  

 

							
	 	  	 	  	PAGE	 
	 SECTION 1.
	  	 Definitions
	  	 	1	  
	 SECTION 2.
	  	 Grant of Transaction Liens
	  	 	3	  
	 SECTION 3.
	  	 General Representations and Warranties
	  	 	4	  
	 SECTION 4.
	  	 Further Assurances; General Covenants
	  	 	5	  
	 SECTION 5.
	  	 Equity Interests
	  	 	6	  
	 SECTION 6.
	  	 Transfer Of Record Ownership
	  	 	7	  
	 SECTION 7.
	  	 Right to Vote Equity Interests
	  	 	7	  
	 SECTION 8.
	  	 Remedies upon Event of Default
	  	 	8	  
	 SECTION 9.
	  	 Application of Proceeds
	  	 	9	  
	 SECTION 10.
	  	 Fees and Expenses; Indemnification
	  	 	9	  
	 SECTION 11.
	  	 Authority to Administer Collateral
	  	 	10	  
	 SECTION 12.
	  	 Limitation on Duty in Respect of Collateral
	  	 	11	  
	 SECTION 13.
	  	 Termination of Transaction Liens; Release of Collateral
	  	 	12	  
	 SECTION 14.
	  	 Notices
	  	 	12	  
	 SECTION 15.
	  	 No Implied Waivers; Remedies Not Exclusive
	  	 	12	  
	 SECTION 16.
	  	 Successors and Assigns
	  	 	12	  
	 SECTION 17.
	  	 Amendments and Waivers
	  	 	12	  
	 SECTION 18.
	  	 Choice of Law
	  	 	13	  
	 SECTION 19.
	  	 Submission To Jurisdiction
	  	 	13	  
	 SECTION 20.
	  	 Waiver of Jury Trial
	  	 	13	  
	 SECTION 21.
	  	 Severability
	  	 	13	  
	 SECTION 22.
	  	 Counterparts
	  	 	13	  
	 SECTION 23.
	  	 Incorporation by Reference
	  	 	13	  
			
	 Schedule 1.
	  	Equity Interests in Pipeline Subsidiary	  			
			
	 Annex A.
	  	Description of Collateral	  			

 SECURITY AGREEMENT 

AGREEMENT dated as of March 8, 2011 between UNITED REFINING COMPANY, as Grantor, and THE BANK OF NEW YORK MELLON TRUST COMPANY,
N.A., as Collateral Agent. 
 WHEREAS, the Grantor is entering into the Indenture described in Section 1 hereof, pursuant
to which the Grantor intends to issue securities for the purposes set forth therein; 
 WHEREAS, from time to time the Grantor
may, subject to the terms and conditions of the Indenture, issue Additional Securities pursuant to the terms of the Indenture; 

WHEREAS, the Grantor is willing to secure its obligations under the Indenture and certain hedging arrangements, by granting Liens on
certain of its assets to the Collateral Agent as provided in the Collateral Documents; 
 WHEREAS, the Holders are not willing
to purchase securities under the Indenture unless the foregoing obligations of the Grantor are secured as described above; 

WHEREAS, upon any foreclosure or other enforcement of the Collateral Documents, the net cash proceeds of the relevant Collateral are to
be received by or paid over to the Collateral Agent and applied as provided herein; 
 NOW, THEREFORE, in consideration of the
foregoing and other good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, the parties hereto agree as follows: 
 SECTION 1. Definitions.  
 (a) Terms Defined in Indenture.
Terms defined in the Indenture and not otherwise defined in subsection (b) or (c) of this Section have, as used herein, the respective meanings provided for therein. The rules of construction specified in Section 1.03 of the Indenture
also apply to this Agreement. 
 (b) Terms Defined in UCC. As used herein, each of the following terms has the meaning
specified in the UCC: 
  

			
	 Term
	  	UCC
	 Authenticate
	  	9-102
	 Certificated Security
	  	8-102

			
	 Term
	  	UCC
	 Control
	  	8-106 & 9-106
	 Deposit Account
	  	9-102
	 Financial Asset
	  	8-102 & 8-103
	 Proceeds
	  	9-102
	 Securities Account
	  	8-501
	 Securities Intermediary
	  	8-102
	 Security Entitlement
	  	8-102

 (c) Additional
Definitions. The following additional terms, as used herein, have the following meanings: 
 “Collateral”
has the meaning assigned to such term in Section 2. 
 “Collateral Accounts” means the Deposit Accounts
and the Securities Accounts to which the net proceeds of any Asset Sale of any Notes Collateral permitted under Section 4.17(a)(y) of the Indenture have been deposited or held in accordance with Section 10.02 of the Indenture. 

“Equity Interest” means (i) any shares of capital stock and (ii) any warrant, option or other right to acquire
such shares of capital stock. 
 “Holders” means the holders from time to time of the Securities. 

“Indenture” means the Indenture dated as of March 8, 2011 among United Refining Company, the Subsidiary Guarantors
named therein and The Bank of New York Mellon Trust Company, N.A., as trustee and collateral agent. 
 “own”
refers to the possession of sufficient rights in property to grant a security interest therein as contemplated by UCC Section 9-203, and “acquire” refers to the acquisition of any such rights. 

“Pipeline Subsidiary” means Kiantone Pipeline Corporation, a New York corporation. 

“Secured Obligations” means (a) any and all principal, interest, premiums, penalties, fees, indemnifications,
reimbursements, damages and other liabilities payable under the documentation governing the Securities, any Additional Securities, Specified Hedging Obligations or arising under the Indenture Documents or documents governing any Specified Hedging
Obligations (the “Obligations”), including all interest accrued (or which would, absent the commencement of an insolvency or liquidation proceeding, accrue) after the commencement of an insolvency or liquidation proceeding in
accordance with and at the rate specified in the relevant Indenture Document whether or not the claim for such interest is allowed as a claim in such insolvency or liquidation 

  
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proceeding and, with respect to any such Obligations, all fees, costs, expenses and other amounts that accrue after the commencement of any case, proceeding or other action relating to the
bankruptcy, insolvency or reorganization of the Grantor (or would accrue but for the operation of applicable bankruptcy or insolvency laws), whether or not such fees, costs, expenses and other amounts are allowed or allowable as a claim in any such
proceeding; and (b) any sums advanced by the Collateral Agent or which may otherwise become due pursuant to the provisions of the Indenture Documents. 
 “Secured Parties” means the Trustee, the Collateral Agent, the Holders (together with any subsequent transferees) and the Specified Counterparties. 

“Securities” means the securities (including any Additional Securities or exchange notes) issued pursuant to the
Indenture. 
 “Transaction Liens” means the Liens granted by the Grantor under the Collateral Documents.

 “UCC” means the Uniform Commercial Code as in effect from time to time in the State of New York;
provided that, if perfection or the effect of perfection or non-perfection or the priority of any Transaction Lien on any Collateral is governed by the Uniform Commercial Code as in effect in a jurisdiction other than New York,
“UCC” means the Uniform Commercial Code as in effect from time to time in such other jurisdiction for purposes of the provisions hereof relating to such perfection, effect of perfection or non-perfection or priority. 

SECTION 2. Grant of Transaction Liens.  
 (a) The Grantor, in order to secure the Secured Obligations, grants to the Collateral Agent for the benefit of the Secured Parties a continuing security interest in all the following property of the
Grantor, whether now owned or existing or hereafter acquired or arising and regardless of where located (collectively, the “Collateral”): 
 (i) all Equity Interests in the Pipeline Subsidiary; 
 (ii) all
supporting obligations and books and records (including customer lists, credit files, computer programs, printouts and other computer materials and records) of the Grantor pertaining to the foregoing; 

(iii) the Grantor’s ownership interest in (a) the Collateral Accounts, (b) all Financial Assets credited to
the Collateral Accounts from time to time and all Security Entitlements in respect thereof, (c) all cash 

  
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held in the Collateral Accounts from time to time and (d) all other money in the possession of the Collateral Agent, in such capacity under the Indenture Documents; and 

(iv) all Proceeds of the Collateral described in the foregoing clauses (i), (ii) and (iii). 

“Collateral” shall not include any other assets or property, including, without limitation, any Excluded Assets.

 (b) The Transaction Liens are granted as security only and shall not subject the Collateral Agent or any other Secured Party
to, or transfer or in any way affect or modify, any obligation or liability of the Grantor with respect to any of the Collateral or any transaction in connection therewith. 
 SECTION 3. General Representations and Warranties. The Grantor represents and warrants that: 
 (a) It (i) is duly organized, validly existing and in good standing under the laws of the Commonwealth of Pennsylvania and (ii) has its chief executive office located at 15 Bradley Street,
Warren, Pennsylvania 16365. 
 (b) It owns all of the outstanding Equity Interests in the Pipeline Subsidiary listed on Schedule
1 hereto as of the Issue Date. The Grantor holds all such Equity Interests directly (i.e., not through a Subsidiary, a Securities Intermediary or any other Person). Such Equity Interests have been duly authorized and validly issued and are
fully paid and non assessable. None of such Equity Interests is subject to any option to purchase or similar right of any Person. The Grantor is not and will not become a party to or otherwise bound by any agreement (except the Indenture Documents
and the Collateral Documents) which restricts in any manner the rights of any present or future holder of any such Equity Interest with respect thereto. 
 (c) It has good and valid title to all its Collateral (subject to exceptions that are, in the aggregate, not material), free and clear of any Lien other than Transaction Liens and any inchoate tax liens.

 (d) It has not performed any acts that could reasonably be expected to prevent the Collateral Agent from enforcing any of the
provisions of the Collateral Documents or that would limit the Collateral Agent in any such enforcement. No financing statement, security agreement, mortgage or similar or equivalent document or instrument covering all or part of the Collateral
owned by the Grantor is on file or of record in any jurisdiction in which such filing or recording would be effective to perfect or record a Lien on such Collateral, except financing statements, mortgages or other similar or equivalent documents
with 

  
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respect to Permitted Liens. After the Issue Date, no Collateral owned by the Grantor will be in the possession or under the Control of any other Person having a claim thereto or security interest
therein, other than a Permitted Lien. 
 (e) The Transaction Liens on all Collateral owned by the Grantor (i) have been
validly created, (ii) will attach to each item of such Collateral on the Issue Date and (iii) when so attached, will secure all the Secured Obligations. 
 (f) When a UCC financing statement describing the Collateral has been filed in the appropriate office, the Transaction Liens will constitute perfected security interests in the Collateral owned by the
Grantor to the extent that a security interest therein may be perfected by filing pursuant to the UCC, prior to all Liens and rights of others therein except Permitted Liens. Except for the filing of such UCC financing statements, no registration,
recordation or filing with any governmental body, agency or official is required in connection with the execution or delivery of this Agreement or is necessary for the validity or enforceability thereof or for the perfection or due recordation of
the Transaction Liens or for the enforcement of the Transaction Liens pursuant to this Agreement. 
 (g) All easements,
right-of-ways, permits, leases and similar agreements which are necessary for the Grantor or the Pipeline Subsidiary to use or access the Pipeline are, in all material respects, in favor and for the benefit of, and in the name of, the Pipeline
Subsidiary. 
 SECTION 4. Further Assurances; General Covenants. The Grantor covenants as follows: 

(a) The Grantor will, from time to time, at its own expense, take any action that from time to time may be necessary or that the
Collateral Agent may request in accordance with Section 4.23(a) of the Indenture. 
 The Grantor authorizes the Collateral
Agent to execute and file such financing statements or continuation statements in such jurisdictions with the description of collateral as set forth on Annex A as the Collateral Agent may deem necessary or desirable for the purposes set forth in the
preceding sentence. The Grantor will pay the costs of, or incidental to, any recording or filing of any financing or continuation statements or other documents recorded or filed pursuant hereto. 

(b) The Grantor will not (i) change its name or organizational form or structure or (ii) change its location (determined as
provided in UCC Section 9-307) unless it shall have complied with Section 4(c). 
 (c) Within 30 days (or such longer
period as may be agreed to by the Collateral Agent) following any action contemplated by Section 4(b), the Grantor 

  
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will, at its own expense, (i) cause to be delivered to the Collateral Agent written notice that all financing statements and amendments or supplements thereto, continuation statements and
other documents required to be filed or recorded in order to perfect the Transaction Liens after it takes such action have been filed or recorded in each office necessary for such purpose and (ii) execute and deliver all additional documents
and perform all additional acts as the Collateral Agent may request or as necessary in order to continue or maintain the existence and priority of the Transaction Liens on the Collateral. 

(d) The Grantor will not sell, lease, exchange, assign or otherwise dispose of, or grant any option with respect to, any of its
Collateral; provided that it may do any of the foregoing unless doing so would violate a covenant in the Indenture. Upon any sale, lease or other disposition permitted by the proviso in the immediately preceding sentence (other than
any such sale, lease or other disposition to a Subsidiary), the Transaction Liens on the assets sold or disposed of (but not in any Proceeds arising from such sale or disposition) will cease immediately without any action by the Collateral Agent or
any other Secured Party. 
 (e) The Grantor will, promptly upon request, provide to the Collateral Agent all information and
evidence concerning the Collateral that the Collateral Agent may reasonably request from time to time to enable it to enforce the provisions of the Collateral Documents. 
 SECTION 5. Equity Interests. The Grantor represents, warrants and covenants as follows: 
 (a) Equity Interests. On the Issue Date, the Grantor will deliver to the Collateral Agent as Collateral hereunder all certificates representing the Equity Interests of the Pipeline Subsidiary then
owned by the Grantor. Thereafter, whenever the Grantor acquires any other certificates representing an Equity Interest of the Pipeline Subsidiary, the Grantor will promptly deliver such certificates to the Collateral Agent as Collateral hereunder.
For the avoidance of doubt, such certificates shall be Certificated Securities. 
 (b) Perfection as to Equity interests.
When the Grantor delivers the certificate representing the Equity Interests of the Pipeline Subsidiary owned by it to the Collateral Agent and complies with Section 5(c) in connection with such delivery, (i) the Transaction Lien on such
Equity Interests will be perfected, subject to no prior Liens or rights of others (other than inchoate tax liens or other nonconsensual liens), (ii) the Collateral Agent will have Control of such Equity Interests and (iii) the Collateral
Agent will be a protected purchaser (within the meaning of UCC Section 8-303). 

  
 6 

 (c) Delivery of Certificates. All certificates representing Equity Interests of the
Pipeline Subsidiary, when delivered to the Collateral Agent, will be in suitable form for transfer by delivery, or accompanied by duly executed instruments of transfer or assignment in blank. 

(d) Communications. The Grantor will endeavor to, and upon the occurrence and during the continuation of an Event of Default and
after receipt of notice in accordance with Section 7, the Grantor shall, promptly give to the Collateral Agent copies of any notices and other communications received by it with respect to Equity Interests of the Pipeline Subsidiary
registered in the name of the Grantor or its nominee. 
 (e) Agreement as to Applicable Jurisdiction. In respect of all
Security Entitlements owned by the Grantor, and all Collateral Accounts to which the related Financial Assets are credited, the Securities Intermediary’s jurisdiction (determined as provided in UCC Section 8-110(e)) will at all times be
located in the United States. 
 SECTION 6. Transfer Of Record Ownership. At any time when an Event of Default shall
have occurred and be continuing, the Collateral Agent may (and to the extent that action by it is required, the Grantor, if directed to do so by the Collateral Agent, will as promptly as practicable) cause the Equity Interests of the Pipeline
Subsidiary (or any portion thereof specified in such direction) to be transferred of record into the name of the Collateral Agent or its nominee. The Grantor will take any and all actions reasonably requested by the Collateral Agent to facilitate
compliance with this Section 6. The Collateral Agent will promptly give to the Grantor copies of any notices and other communications received by the Collateral Agent with respect to such Securities registered in the name of the Collateral
Agent or its nominee. 
 SECTION 7. Right to Vote Equity Interests.  

(a)(i) Unless an Event of Default shall have occurred and be continuing and (ii) in the case of an Event of Default other than
pursuant to Sections 6.01(i) or (j) of the Indenture, the Collateral Agent shall have provided notice to the Grantor that its rights under this Section 7 are being suspended (which notice shall be deemed to have been provided only when a
notice of an Event of Default has been provided by the Trustee under the Indenture), the Grantor will have the right, from time to time, to vote and to give consents, ratifications and waivers with respect to any Equity Interest of the Pipeline
Subsidiary owned by it and the Collateral Agent will, upon receiving a written request from the Grantor, deliver to it or as specified in such request such necessary proxies, powers of attorney, consents, ratifications and waivers in respect of any
such Equity Interest that is registered in the name of the Collateral Agent or its nominee as shall be specified 

  
 7 

 
in such request and be in form and substance reasonably satisfactory to the Collateral Agent. 
 (b)(i) If an Event of Default shall have occurred and be continuing and (ii) in the case of an Event of Default other than pursuant to Sections 6.01(i) or (j) of the Indenture, the Collateral
Agent shall have provided notice to the Grantor that its rights under this Section 7 are being suspended (which notice shall be deemed to have been provided only when a notice of an Event of Default has been provided by the Trustee under the
Indenture), the Collateral Agent will have the exclusive right to the extent permitted by law to vote, to give consents, ratifications and waivers and to take any other action with respect to the Equity Interests of the Pipeline Subsidiary, with the
same force and effect as if the Collateral Agent were the absolute and sole owner thereof, and the Grantor will take all such action as the Collateral Agent may reasonably request from time to time to give effect to such right. 

SECTION 8. Remedies upon Event of Default. If an Event of Default shall have occurred and be continuing, the Collateral Agent
may exercise any or all of the remedies available to it under the Collateral Documents. 
 (a) Without limiting the generality
of the foregoing, if an Event of Default shall have occurred and be continuing, the Collateral Agent may exercise on behalf of the Secured Parties all the rights of a secured party under the UCC (whether or not in effect in the jurisdiction where
such rights are exercised) with respect to any Collateral and, in addition, the Collateral Agent may, without being required to give any notice, except as herein provided or as may be required by mandatory provisions of law, sell or otherwise
dispose of the Collateral or any part thereof in one or more parcels at public or private sale, at any exchange, broker’s board or at any of the Collateral Agent’s offices or elsewhere, for cash, on credit or for future delivery, at such
time or times and at such price or prices and upon such other terms as the Collateral Agent in its sole discretion may deem commercially reasonable, irrespective of the impact of any such sales on the market price of the Collateral. To the maximum
extent permitted by applicable law, any Secured Party may be the purchaser of any or all of the Collateral at any such sale and (with the consent of the Collateral Agent, which may be withheld in its discretion) shall be entitled, for the purpose of
bidding and making settlement or payment of the purchase price for all or any portion of the Collateral sold at any such public sale, to use and apply all of any part of the Secured Obligations as a credit on account of the purchase price of any
Collateral payable at such sale. Upon any sale of Collateral by the Collateral Agent (including pursuant to a power of sale granted by statute or under a judicial proceeding), the receipt of the Collateral Agent or of the officer making the sale
shall be a sufficient discharge to the purchaser or purchasers of the Collateral so sold and such purchaser or purchasers shall not be obligated to see to the application of any part of the purchase money paid to the Collateral Agent or such officer
or be answerable in 

  
 8 

 
any way for the misapplication thereof. Each purchaser at any such sale shall hold the property sold absolutely free from any claim or right on the part of the Grantor, and the Grantor hereby
waives (to the extent permitted by law) all rights of redemption, stay or appraisal that it now has or may at any time in the future have under any rule of law or statute now existing or hereafter enacted. The Collateral Agent shall not be obliged
to make any sale of Collateral regardless of notice of sale having been given. The Collateral Agent may adjourn any public or private sale from time to time by announcement at the time and place fixed therefor, and such sale may, without further
notice, be made at the time and place to which it was so adjourned. To the maximum extent permitted by law, the Grantor hereby waives any claim against any Secured Party arising because the price at which any Collateral may have been sold at such a
private sale was less than the price that might have been obtained at a public sale, even if the Collateral Agent accepts the first offer received and does not offer such Collateral to more than one offeree. The Collateral Agent may disclaim any
warranty, as to title or as to any other matter, in connection with such sale or other disposition, and its doing so shall not be considered adversely to affect the commercial reasonableness of such sale or other disposition. 

(b) If the Collateral Agent sells any of the Collateral upon credit, the Grantor will be credited only with payment actually made by the
purchaser, received by the Collateral Agent and applied in accordance with Section 9 hereof. In the event the purchaser fails to pay for the Collateral, the Collateral Agent may resell the same, subject to the same rights and duties set forth
herein. 
 (c) Notice of any such sale or other disposition shall be given to the Grantor as (and if) required by
Section 11. 
 SECTION 9. Application of Proceeds. If an Event of Default shall have occurred and be
continuing, the Collateral Agent may apply any cash held in the Collateral Accounts and the proceeds of any sale or other disposition of all or any part of the Collateral in the manner set forth in Section 6.10 of the Indenture. 

SECTION 10. Fees and Expenses; Indemnification.  
 (a) The Grantor shall forthwith upon demand pay to the Collateral Agent: 
 (i) the amount of any taxes that the Collateral Agent may have been required to pay by reason of the Transaction Liens or to free any Collateral from any other Lien thereon; 

(ii) any amounts due pursuant to Section 4.23(b) of the Indenture; 

  
 9 

 (iii) the amount of any fees that the Grantor shall have agreed in writing
to pay to the Collateral Agent and that shall have become due and payable in accordance with such written agreement; and 
 (iv) the amount required to indemnify each of the Collateral Agent, the Trustee, and each Holder and each of their respective directors, officers, employees and agents (the “Indemnified
Parties”), and shall hold each Indemnified Party harmless from and against, any and all claims, damages, losses, liabilities and expenses (including all reasonable attorneys’ fees and charges with whom any Indemnified Party may consult
and all reasonable expenses of litigation and preparation therefor) which any Indemnified Party may incur, or which may be asserted against any Indemnified Party by any person, entity or governmental authority (including any person or entity
claiming derivatively on behalf of the Grantor), in connection with or arising out of or relating to (a) this Agreement; (b) the Collateral Agent’s good faith exercise of any of its rights and remedies hereunder; and (c) any use,
misuse, non-use, condition, maintenance or repair by the Grantor or anyone claiming by, through or under the Grantor; provided, that any claims caused by the willful misconduct or gross negligence of any Indemnified Party as determined by a
court of competent jurisdiction shall be excluded from the foregoing indemnification of such Indemnified Party. The obligations of the Grantor under this Section shall survive the termination of this Agreement. 

(b) If any transfer tax, documentary stamp tax or other tax is payable in connection with any transfer or other transaction provided for
in the Collateral Documents, the Grantor will pay such tax and provide any required tax stamps to the Collateral Agent or as otherwise required by law. 
 SECTION 11. Authority to Administer Collateral. The Grantor irrevocably appoints the Collateral Agent its true and lawful attorney, with full power of substitution, in the name of the Grantor,
any Secured Party or otherwise, for the sole use and benefit of the Secured Parties, but at the Grantor’s expense, to the extent permitted by law to exercise, at any time and from time to time while an Event of Default shall have occurred and
be continuing, all or any of the following powers with respect to all or any of the Collateral: 
 (a) to demand, sue for,
collect, receive and give acquittance for any and all monies due or to become due upon or by virtue thereof, 
 (b) to settle,
compromise, compound, prosecute or defend any action or proceeding with respect thereto, 

  
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 (c) to sell, lease, license or otherwise dispose of the same or the proceeds or avails
thereof, as fully and effectually as if the Collateral Agent were the absolute owner thereof, and 
 (d) to extend the time of
payment of any or all thereof and to make any allowance or other adjustment with reference thereto; 
 provided that, except in the case
of Collateral that is perishable or threatens to decline speedily in value, the Collateral Agent will give the Grantor at least ten days’ prior written notice of the time and place of any public sale thereof or the time after which any private
sale or other intended disposition thereof will be made. Any such notice shall (i) contain the information specified in UCC Section 9-613, (ii) be Authenticated and (iii) be sent to the parties required to be notified pursuant to
UCC Section 9-611(c); provided that, if the Collateral Agent fails to comply with this sentence in any respect, its liability for such failure shall be limited to the liability (if any) imposed on it as a matter of law under the UCC.

 SECTION 12. Limitation on Duty in Respect of Collateral. Beyond the exercise of reasonable care in the custody
and preservation thereof, the Collateral Agent will have no duty as to any Collateral in its possession or control or in the possession or control of any sub-agent or bailee or any income therefrom or as to the preservation of rights against prior
parties or any other rights pertaining thereto. The Collateral Agent will be deemed to have exercised reasonable care in the custody and preservation of the Collateral in its possession or control if such Collateral is accorded treatment
substantially equal to that which it accords its own property, and will not be liable or responsible for any loss or damage to any Collateral, or for any diminution in the value thereof, by reason of any act or omission of any sub-agent or bailee
selected by the Collateral Agent in good faith, except to the extent that such liability arises from the Collateral Agent’s gross negligence or willful misconduct. 
 The Collateral Agent shall not be responsible for (a) the existence, genuineness or value of any of the Collateral or for the validity, perfection, priority or enforceability of the Liens on any of
the Collateral, whether impaired by operation of law or by reason of any action or omission to act on its part hereunder, except to the extent such action or omission constitutes gross negligence, bad faith or willful misconduct on the part of the
Collateral Agent, (b) the validity or sufficiency of the Collateral or any agreement or assignment contained therein, (c) the validity of the title of the Grantor to the Collateral, (d) insuring the Collateral, (e) the payment of
taxes, charges, assessments or Liens upon the Collateral or otherwise as to the maintenance of the Collateral, or (f) filing any financing or continuation statements or recording any documents or instruments in any public office at any time or
times or otherwise perfecting or maintaining the perfection of any security interest in the Collateral. Notwithstanding anything in this Agreement to the contrary and for the avoidance 

  
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of doubt, the Collateral Agent shall have no duty to act outside of the United States of America in respect of any Collateral located in any jurisdiction other than the United States of America.

 SECTION 13. Termination of Transaction Liens; Release of Collateral.  

(a) The Transaction Liens granted by the Grantor shall terminate and all or any portion of the Collateral shall be released in accordance
with the terms of Section 10.05 of the Indenture. 
 (b) Upon any termination of a Transaction Lien or release of
Collateral, the Collateral Agent will, at the expense of the Grantor, execute and deliver to the Grantor such necessary documents as it shall reasonably request to evidence the termination of such Transaction Lien or the release of such Collateral,
as the case may be. 
 SECTION 14. Notices. All notices, statements, requests, demands and other communications
given or made upon the Grantor or the Collateral Agent in accordance with the provisions of this Agreement shall be given or made as provided in Section 12.02 of the Indenture. 

SECTION 15. No Implied Waivers; Remedies Not Exclusive. No failure by the Collateral Agent or any Secured Party to exercise,
and no delay in exercising and no course of dealing with respect to, any right or remedy under any Collateral Document shall operate as a waiver thereof; nor shall any single or partial exercise by the Collateral Agent or any Secured Party of any
right or remedy under any Collateral Document preclude any other or further exercise thereof or the exercise of any other right or remedy. The rights and remedies specified in the Collateral Documents are cumulative and are not exclusive of any
other rights or remedies provided by law. 
 SECTION 16. Successors and Assigns. This Agreement is for the benefit
of the Collateral Agent and the Secured Parties. If all or any part of any Secured Party’s interest in any Secured Obligation is assigned or otherwise transferred, the transferor’s rights hereunder, to the extent applicable to the
obligation so transferred, shall be automatically transferred with such obligation. This Agreement shall be binding on the Grantor and its successors and assigns. 
 SECTION 17. Amendments and Waivers. Any and all agreements amending or changing any provision of this Agreement or the rights of the Collateral Agent hereunder, and any and all waivers or
consents to Events of Default or other departures from the due performance of the Grantor hereunder, shall be made only pursuant to the provisions of Article 9 of the Indenture. 

  
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 SECTION 18. Choice of Law. This Agreement shall be deemed to be a contract under
the laws of the State of New York and for all purposes shall be governed and construed in accordance with the internals laws of the State of New York without reference to its conflict of laws principles, except as otherwise required by mandatory
provisions of law and except to the extent that remedies provided by the laws of any jurisdiction other than the State of New York are governed by the laws of such jurisdiction. 

SECTION 19. Submission To Jurisdiction. Each party hereto hereby submits to the nonexclusive jurisdiction of the United
States District Court for the Southern District of New York and of any New York State Court sitting in New York City for purposes of all legal proceedings arising out of or relating to the Collateral Documents. Each party hereto irrevocably waives,
to the fullest extent permitted by law, any objection which such party may now or hereafter have to the laying of the venue of any such proceeding brought in such court and any claim that any such proceeding brought in such a court has been brought
in an inconvenient forum. 
 SECTION 20. Waiver of Jury Trial. EXCEPT AS PROHIBITED BY LAW, EACH PARTY HERETO WAIVES
ANY RIGHT IT MAY HAVE TO A TRIAL BY JURY IN RESPECT OF ANY LEGAL PROCEEDING DIRECTLY OR INDIRECTLY ARISING OUT OF, UNDER, OR IN CONNECTION WITH ANY COLLATERAL DOCUMENT OR ANY TRANSACTION CONTEMPLATED THEREBY (WHETHER BASED ON CONTRACT, TORT OR ANY
OTHER THEORY). 
 SECTION 21. Severability. If any provision of any Collateral Document is invalid or unenforceable
in any jurisdiction, then, to the fullest extent permitted by law, (i) the other provisions of the Collateral Documents shall remain in full force and effect in such jurisdiction and shall be liberally construed in favor of the Collateral Agent
and the Secured Parties in order to carry out the intentions of the parties thereto as nearly as may be possible and (ii) the invalidity or unenforceability of such provision in such jurisdiction shall not affect the validity or enforceability
thereof in any other jurisdiction. 
 SECTION 22. Counterparts. This Agreement may be executed in any number of
counterparts and by different parties hereto on separate counterparts, each of which, when so executed and delivered, shall be deemed an original, but all such counterparts shall constitute but one and the same instrument. 

SECTION 23. Incorporation by Reference. In connection with its execution and acting hereunder, the Collateral Agent is
entitled to all rights, privileges, benefits, protection, immunities and indemnities provided to it as Trustee under the Indenture. 

  
 13 

 [Remainder of page intentionally left blank] 

  
 14 

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

			
	UNITED REFINING COMPANY
		
	By:	 	 
		 	Name:
		 	Title:
	
	THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., as Collateral Agent
		
	By:	 	 
		 	Name:
		 	Title:

 SCHEDULE 1 
 Equity Interests in Pipeline Subsidiary 
  

					
	 Issuer
	  	Stock Certificate No.	  	No. of Shares
	 Kiantone Pipeline Corporation
	  	1	  	20

 ANNEX A 
 to 
 UCC Financing Statement 

 

			
	 Debtor:
	  	United Refining Company
		  	15 Bradley Street
		  	Warren, PA 16365
		
	 Secured Party:
	  	The Bank of New York Mellon Trust Company, N.A.
		  	525 William Penn Place, 38th Floor
		  	Pittsburgh, PA 15259

 Collateral
Description 
 This financing statement covers the right, title and interest of the Debtor in and to all of the assets of
the Debtor as described below, whether now owned or existing or hereafter acquired or arising and regardless of where located (collectively, the “Collateral”): 

(i) all Equity Interests in the Pipeline Subsidiary; 

(ii) all supporting obligations and books and records (including customer lists, credit files, computer programs,
printouts and other computer materials and records) of the Debtor pertaining to the foregoing; 
 (iii) the
Debtor’s ownership interest in (a) the Collateral Accounts, (b) all Financial Assets credited to the Collateral Accounts from time to time and all Security Entitlements in respect thereof and (c) all cash held in the Collateral
Accounts from time to time; and 
 (iv) all Proceeds of the Collateral described in the foregoing clauses (i),
(ii) and (iii). 
 Capitalized terms used herein and not otherwise defined herein have the meanings assigned to them in the
Uniform Commercial Code as in effect from time to time in the applicable jurisdiction. The following capitalized terms, used herein, shall have the definitions specified below: 

“Collateral Accounts” means the Securities Accounts to which the net proceeds of any Asset Sale (as defined in the
Indenture) of any collateral permitted under Section 4.17(a) of the Indenture have been deposited or held in accordance with Section 10.02 of the Indenture. 
 “Equity Interest” means (i) any shares of capital stock and (ii) any warrant, option or other right to acquire such shares of capital stock. 

“Indenture” means the Indenture dated as of March 8, 2011 among United Refining Company, the Subsidiary Guarantors
party thereto, The Bank of New York Mellon Trust Company, N.A., as Trustee, and the Secured Party, as Collateral Agent. 

  
 1 

 “Pipeline Subsidiary” means Kiantone Pipeline Corporation, a New York
corporation. 

  
 2Registration Rights Agreement

 Exhibit 4.4 
 EXECUTION VERSION 
  
  

REGISTRATION RIGHTS AGREEMENT 
 Dated as of March 8, 2011 
 by and among 

UNITED REFINING COMPANY 
 THE SUBSIDIARY GUARANTORS NAMED HEREIN 
 and 

CREDIT SUISSE SECURITIES (USA) LLC 
 as Representative of the several Initial Purchasers named herein 
  

 
 This Registration Rights
Agreement (the “Agreement”) is made and entered into as of March 8, 2011 by and among UNITED REFINING COMPANY, a Pennsylvania corporation (the “Company”), the SUBSIDIARY GUARANTORS (as defined herein) and
CREDIT SUISSE SECURITIES (USA) LLC as representative (the “Representative”) for the several initial purchasers named herein (collectively, the “Initial Purchasers”). The execution and delivery of this Agreement is a
condition to the obligations of the Initial Purchasers to purchase $365,000,000 of the Company’s 10.500% First Priority Senior Secured Notes due 2018 under the Purchase Agreement, dated as of February 25, 2011 (the “Purchase
Agreement”), by and among the Company, the Subsidiary Guarantors and the Representative. 
 The Company, the Subsidiary
Guarantors and the Initial Purchasers hereby agree as follows: 
 SECTION 1. DEFINITIONS 

As used in this Agreement, the following capitalized terms shall have the following meanings: 

Act: The Securities Act of 1933, as amended, and the rules and regulations promulgated by the Commission pursuant thereto.

 Action: As defined in Section 8(c) of this Agreement. 

Advice: As defined in Section 6 of this Agreement. 
 Broker-Dealer: Any broker or dealer registered under the Exchange Act. 

Closing Date: The date that the Old Notes are purchased by the Initial Purchasers pursuant to the Purchase Agreement. 

Commission: The Securities and Exchange Commission. 
 Consummate: A Registered Exchange Offer shall be deemed “Consummated” for purposes of this Agreement upon the occurrence of (i) the filing and effectiveness under the Act of the
Exchange Offer Registration Statement relating to the New Notes to be issued in the Exchange Offer, (ii) the maintenance of such Registration Statement continuously effective and the keeping of the Exchange Offer open for a period not less than
the minimum period required pursuant to Section 3(b) of this Agreement and (iii) the delivery by the Company to the Registrar under the Indenture of New Notes in the same aggregate principal amount as the aggregate principal amount of Old
Notes that were so tendered. 
 Damages Payment Date: With respect to any of the Notes, each Interest Payment Date.

 Exchange Act: The Securities Exchange Act of 1934, as amended, and the rules and regulations promulgated by the
Commission pursuant thereto. 

  
 1 

 Exchange Offer: The registration under the Act by the Company and the Subsidiary
Guarantors of the New Notes pursuant to a Registration Statement pursuant to which the Company and the Subsidiary Guarantors offer the Holders of all outstanding Transfer Restricted Securities the opportunity to exchange all such outstanding Old
Notes that are Transfer Restricted Securities held by such Holders for New Notes in an aggregate principal amount equal to the aggregate principal amount of the Old Notes that are Transfer Restricted Securities tendered in such exchange offer by
such Holders. 
 Exchange Offer Effective Date: As defined in Section 3(a) of this Agreement. 

Exchange Offer Registration Statement: The Registration Statement relating to the Exchange Offer and the New Notes, including the
related Prospectus. 
 FINRA: Financial Industry Regulatory Authority, Inc. 

Holders: As defined in Section 2(b) of this Agreement. 

Indemnified Persons: As defined in Section 8(a) of this Agreement. 

Indenture: The Indenture, dated as of March 8, 2011, by and among the Company, the Subsidiary Guarantors and The Bank of New
York Mellon Trust Company, N.A., as trustee (the “Trustee”) and collateral agent, pursuant to which the Notes are to be issued, as such Indenture is amended or supplemented from time to time in accordance with its terms. 

Initial Purchasers: Credit Suisse Securities (USA) LLC, RBC Capital Markets, LLC, PNC Capital Markets LLC, Gleacher &
Company Securities, Inc. 
 Liquidated Damages: As defined in Section 5 of this Agreement. 

New Notes: The Company’s 10.500% First Priority Senior Secured Notes due 2018 to be issued pursuant to the Indenture in
connection with the Exchange Offer and evidencing the same debt as the Old Notes, including the guarantees by the Subsidiary Guarantors. 
 Notes: Old Notes and New Notes. 
 Old Notes: The Company’s
10.500% First Priority Senior Secured Notes due 2018 to be issued pursuant to the Indenture on the Closing Date, including the guarantees by the Subsidiary Guarantors. 
 Participating Broker-Dealer: As defined in Section 6(a)(iii) of this Agreement. 
 Person: An individual, partnership, corporation, trust or unincorporated organization, or a government or agency or political subdivision thereof. 

Prospectus: The prospectus included in a Registration Statement, as amended or supplemented by any prospectus supplement and by
all other amendments and supplements thereto, including post-effective amendments, and all material incorporated by reference or deemed to be incorporated by reference, if any, in such Prospectus. 

Registration Default: As defined in Section 5 of this Agreement. 

Registration Statement: Any registration statement of the Company and the Subsidiary Guarantors relating to (a) an offering
of New Notes pursuant to an Exchange Offer or (b) the registration for resale of Transfer Restricted Securities pursuant to the Shelf Registration Statement that is filed pursuant to the provisions of this Agreement, in each case, including the
Prospectus included therein, all amendments and supplements thereto (including pre- and post-effective amendments) and all exhibits and material incorporated by reference or deemed to be incorporated by reference, if any, therein. 

Shelf Registration Statement: As defined in Section 4(a) of this Agreement. 

  
 2 

 Subsidiary: With respect to any Person, any other Person of which a majority of the
equity ownership or the voting securities is at the time owned, directly or indirectly, by such Person or by one or more other subsidiaries of such Person or a combination thereof. 

Subsidiary Guarantors: Each Subsidiary of the Company that, pursuant to the Indenture, is, or is required to become, a guarantor
of the obligations of the Company under the Notes and the Indenture, each as identified on the signature pages to this Agreement. 
 TIA: The Trust Indenture Act of 1939, as amended (15 U.S.C. Section 77aaa-77bbbb), as in effect on the effective date of the first Registration Statement required by this Agreement.

 Transfer Restricted Securities: Each of the Old Notes until the earliest to occur of (i) the date on which each
such Old Note has been exchanged by a person other than a Broker-Dealer for a New Note in the Exchange Offer, (ii) following the exchange by a Broker-Dealer in the Exchange Offer of an Old Note for a New Note, the date on which such New Note is
sold to a purchaser who receives from such Broker-Dealer on or prior to the date of such sale a copy of the prospectus contained in the Exchange Offer Registration Statement, (iii) the date on which such Old Note has been effectively registered
under the Act and disposed of in accordance with the Shelf Registration Statement or (iv) the date on which such Old Note is distributed to the public pursuant to Rule 144 under the Act. 

Underwriters: As defined in Section 11 of this Agreement. 

Underwritten Registration: A registration of securities of the Company and the Subsidiary Guarantors in which such securities are
sold to an underwriter for reoffering to the public pursuant to an effective Registration Statement. 
 Underwritten
Offering: An offering pursuant to an Underwritten Registration. 
 SECTION 2. SECURITIES SUBJECT TO THIS AGREEMENT 

(a) Transfer Restricted Securities. The securities entitled to the benefits of this Agreement are the Transfer Restricted
Securities. 
 (b) Holders of Transfer Restricted Securities. A Person is deemed to be a holder of Transfer Restricted
Securities (i) in the case of Transfer Restricted Securities issued in global form, whenever such Person beneficially owns Transfer Restricted Securities and (ii) in the case of Transfer Restricted Securities issued in certificated form,
whenever such Person is the registered owner of such Transfer Restricted Securities (in either case, a “Holder”). 

SECTION 3. REGISTERED EXCHANGE OFFER 
 (a) Unless, due to a change in law or Commission policy after the date hereof, the Exchange Offer shall not be permissible under applicable federal law or Commission policy, the Company and the Subsidiary
Guarantors shall (i) cause to be filed with the Commission as soon as practicable on or prior to 135 days after the Closing Date, an Exchange Offer Registration Statement, (ii) use their best efforts to cause such Exchange Offer
Registration Statement to be declared effective by the Commission on or prior to 225 days after the Closing Date, (iii) unless the Exchange Offer would not be permitted by a policy of the Commission, commence the Exchange Offer and use their
best efforts to issue on or prior to 45 days after the date on which the Exchange Offer Registration Statement is declared effective by the Commission (the “Exchange Offer Effective Date”) New Notes in exchange for all Old Notes
tendered prior thereto in the Exchange Offer and (iv) if obligated to file the Shelf Registration Statement as provided in Section 4, use their best efforts to file the Shelf Registration Statement in accordance with the provisions of
Section 4. In connection with the foregoing, the Company and the Subsidiary Guarantors shall (A) file all pre-effective amendments to such Exchange Offer Registration Statement as may be necessary to cause such Exchange Offer Registration
Statement to become effective, (B) if applicable, file a post-effective amendment to such Exchange Offer Registration Statement pursuant to Rule 430A under the Act, (C) cause all necessary filings in connection with the registration and
qualification of the New Notes to be made under the Blue Sky laws of such jurisdictions as are necessary to permit Consummation of the Exchange Offer (provided, however, that the Company and the Subsidiary Guarantors shall not be obligated to
qualify as foreign corporations 

  
 3 

 
in any jurisdiction in which they are not so qualified or to take any action that would subject them to general service of process or taxation in any jurisdiction where they are not so subject)
and (D) upon the effectiveness of such Exchange Offer Registration Statement, commence the Exchange Offer and use their best efforts to issue on or prior to 45 days after the date on which such Exchange Offer Registration Statement is declared
effective by the Commission, New Notes in exchange for all Old Notes tendered in the Exchange Offer. The Exchange Offer Registration Statement shall be on the appropriate form permitting registration of the New Notes to be offered in exchange for
the Transfer Restricted Securities and to permit resales of New Notes held by Broker-Dealers as contemplated by Section 3(c) below. If, after such Exchange Offer Registration Statement initially is declared effective by the Commission, the
Exchange Offer or the issuance of New Notes under the Exchange Offer or the resale of New Notes received by Broker-Dealers in the Exchange Offer as contemplated by Section 3(c) below is interfered with by any stop order, injunction or other
order or requirement of the Commission or any other governmental agency or court, such Exchange Offer Registration Statement shall be deemed not to have become effective for purposes of this Agreement during the period that such stop order,
injunction or other similar order or requirement shall remain in effect. 
 (b) The Company shall cause the Exchange Offer
Registration Statement to be effective continuously and shall keep the Exchange Offer open for a period of not less than the minimum period required under applicable federal and state securities laws to Consummate the Exchange Offer;
provided, however, that in no event shall such period be less than 20 business days nor longer than 90 days. The Company and the Subsidiary Guarantors shall cause the Exchange Offer to comply with all applicable federal and state
securities laws. The Company and the Subsidiary Guarantors shall only offer to exchange New Notes for Old Notes in the Exchange Offer, and only the New Notes shall be registered under the Exchange Offer Registration Statement. 

(c) The Company shall indicate in a “Plan of Distribution” section contained in the Prospectus included in the Exchange Offer
Registration Statement that any Broker-Dealer that holds Old Notes that are Transfer Restricted Securities and that were acquired for its own account as a result of market-making activities or other trading activities (other than Transfer Restricted
Securities acquired directly from the Company), may exchange such Old Notes pursuant to the Exchange Offer; provided, however, that such Broker-Dealer may be deemed to be an “underwriter” within the meaning of the Act and
must, therefore, deliver a prospectus meeting the requirements of the Act in connection with any resales of the New Notes received by such Broker-Dealer in the Exchange Offer. Such “Plan of Distribution” section shall allow the use of the
Prospectus by all Persons subject to the prospectus delivery requirements of the Act, including Participating Broker-Dealers, and shall also contain all other information with respect to such resales by Broker-Dealers that the Commission may require
to permit such resales pursuant thereto, but such “Plan of Distribution” shall not name any such Broker-Dealer or disclose the amount of Notes held by any such Broker-Dealer except to the extent required by the Commission as a result of a
change in policy after the date of this Agreement. 
 The Company and the Subsidiary Guarantors shall use their best efforts to
keep the Exchange Offer Registration Statement continuously effective, supplemented and amended as required by the provisions of Section 6(c) below to the extent necessary to ensure that it is available for resales of Notes acquired by
Broker-Dealers for their own accounts as a result of market-making activities or other trading activities, and to ensure that it conforms with the requirements of this Agreement, the Act and the policies, rules and regulations of the Commission as
announced from time to time. The Company shall provide sufficient copies of the latest version of such Prospectus to Broker-Dealers promptly upon request at any time during such period in order to facilitate such resales. 

(d) The Company and the Subsidiary Guarantors shall not consummate the Exchange Offer later than 270 days following the Closing Date.

 SECTION 4. SHELF REGISTRATION 
 (a) Shelf Registration. If (i) the Company and the Subsidiary Guarantors are not required to file an Exchange Offer Registration Statement or to consummate the Exchange Offer because the
Exchange Offer is not permitted by applicable law or Commission policy or (ii) any Holder of Transfer Restricted Securities shall notify the Company within 20 business days of the Consummation of the Exchange Offer that such Holder (A) is
prohibited by law or Commission policy from participating in the Exchange Offer, (B) may not resell the New Notes acquired by it in the Exchange Offer to the public without delivering a prospectus and the Prospectus contained in the Exchange
Offer Registration Statement is not appropriate or available for such resales or (C) is a Broker-Dealer 

  
 4 

 
and holds Old Notes (including the Initial Purchasers who hold Old Notes as part of an unsold allotment from the original offering of the Old Notes) acquired directly from the Company and the
Subsidiary Guarantors or one of their affiliates, then the Company and the Subsidiary Guarantors shall use their best efforts to (x) file a shelf registration statement pursuant to Rule 415 under the Act, which may be an amendment to the
Exchange Offer Registration Statement (in either event, the “Shelf Registration Statement”), on or prior to the earliest to occur of (1) the 135th day after the date on which the Company determines that it is not required to
file the Exchange Offer Registration Statement as contemplated by clause (i) above or (2) the 135th day after the date on which the Company receives notice from a Holder of Transfer Restricted Securities as contemplated by clause
(ii) above (such earliest date being the “Shelf Filing Deadline”),which Shelf Registration Statement shall provide for resales of all Transfer Restricted Securities the Holders of which shall have provided the information
required pursuant to Section 4(b) of this Agreement and (y) use its best efforts to cause such Shelf Registration Statement to be declared effective by the Commission on or before the 225th day after the Shelf Filing Deadline. The Company
and the Subsidiary Guarantors shall use their best efforts to keep such Shelf Registration Statement continuously effective, supplemented and amended as required by the provisions of Sections 6(b) and (c) of this Agreement to the extent
necessary to ensure that it is available for resales of Notes by the Holders of Transfer Restricted Securities entitled to the benefit of this Section 4(a) and to ensure that it conforms with the requirements of this Agreement, the Act and the
policies, rules and regulations of the Commission as announced from time to time, for a continuous period of two years following the date on which such Shelf Registration Statement becomes effective under the Act or such shorter period that will
terminate when all the Notes covered by the Shelf Registration Statement have been sold pursuant to such Shelf Registration Statement. 
 (b) Provision by Holders of Certain Information in Connection with the Shelf Registration Statement. No Holder of Transfer Restricted Securities may include any of its Transfer Restricted
Securities in any Shelf Registration Statement pursuant to this Agreement unless and until such Holder furnishes to the Company in writing, within 20 business days after receipt of a request therefor, such information regarding such Holder as the
Company may reasonably request for use in connection with any Shelf Registration Statement or Prospectus or preliminary Prospectus included in such Shelf Registration Statement. Each Holder as to which any Shelf Registration Statement is being
effected agrees to furnish promptly to the Company all information required to be disclosed to make the information previously furnished to the Company by such Holder not materially misleading. 

SECTION 5. LIQUIDATED DAMAGES 
 If (a) the Company and the Subsidiary Guarantors fail to file on or prior to 135 days after the Closing Date, or cause to become effective on or prior to 225 days after the Closing Date, the Exchange
Offer Registration Statement or (b) the Company and the Subsidiary Guarantors are required to file the Shelf Registration Statement pursuant to either Section 4(a)(i) or (ii) and such Shelf Registration Statement is not filed within
135 days, or declared effective within 225 days, of the Shelf Filing Deadline or (c) the Company and the Subsidiary Guarantors fail to consummate the Exchange Offer within 45 days of the Exchange Offer Effective Date or (d) the Shelf
Registration Statement or the Exchange Offer Registration Statement is declared effective but thereafter ceases to be effective or usable in connection with resales of Transfer Restricted Securities the periods required by this Agreement (each such
event referred to in clauses (a) through (d), a “Registration Default”), the Company hereby agrees to pay liquidated damages (“Liquidated Damages”) to each Holder of Transfer Restricted Securities with respect
to the first 90-day period immediately following the occurrence of such Registration Default, in an amount equal to $.05 per week per $1,000 principal amount of Notes constituting Transfer Restricted Securities held by such Holder for each week or
portion thereof that the Registration Default continues. The amount of the Liquidated Damages shall increase by an additional $.05 per week per $1,000 in principal amount of Notes constituting Transfer Restricted Securities with respect to each
subsequent 90-day period until all Registration Defaults have been cured, up to a maximum amount of Liquidated Damages of $.20 per week per $1,000 in principal amount of Notes constituting Transfer Restricted Securities. Notwithstanding the
foregoing, the Company shall not be required to pay Liquidated Damages to each Holder of Transfer Restricted Securities if the Registration Default arises from the failure of the Company to file, or cause to become effective, a Shelf Registration
Statement within the time period required by Section 4 of this Agreement and such Registration Default is by reason of the failure of the Holders to provide the information regarding the Holder reasonably requested by the Company, FINRA or any
other regulatory agency having jurisdiction over any of the Holders at least 10 business days prior to such Registration Default. All accrued Liquidated Damages shall be paid by the Company on each Damages Payment Date to the Holders by wire
transfer of immediately available funds or by federal funds check and to the Holders of certificated 

  
 5 

 
securities by mailing a check to such Holders’ registered addresses. Following the cure of all Registration Defaults relating to any particular Transfer Restricted Securities, the accrual of
Liquidated Damages with respect to such Transfer Restricted Securities will cease. 
 All obligations of the Company set forth
in the preceding paragraph that are outstanding with respect to any Transfer Restricted Security at the time such security ceases to be a Transfer Restricted Security shall survive until such time as all such obligations with respect to such
Transfer Restricted Security shall have been satisfied in full. 
 SECTION 6. REGISTRATION PROCEDURES 

(a) Exchange Offer Registration Statement. In connection with the Exchange Offer, the Company and the Subsidiary Guarantors shall
comply with all of the provisions of Section 6(c) below, shall use their best efforts to effect such exchange to permit the sale of Transfer Restricted Securities being sold in accordance with the intended method or methods of distribution
thereof, and shall comply with all of the following provisions: 
 (i) If, due to a change in law or Commission
policy after the date hereof, in the reasonable opinion of special counsel to the Company there is a question as to whether the Exchange Offer is permitted by applicable federal law or Commission policy, the Company hereby agrees to seek a no-action
letter or other favorable decision from the Commission allowing the Company and the Subsidiary Guarantors to Consummate an Exchange Offer for such Old Notes. The Company hereby agrees to pursue the issuance of such a no-action letter or favorable
decision to the Commission staff level but shall not be required to take commercially unreasonable action to effect a change of Commission policy. The Company hereby agrees, however, to (A) participate in telephonic conferences with the
Commission, (B) deliver to the Commission an analysis prepared by special counsel to the Company setting forth the legal bases, if any, upon which such counsel has concluded that such an Exchange Offer should be permitted and
(C) diligently pursue a resolution (which need not be favorable) by the Commission of such submission. The Initial Purchasers shall be given prior notice of any action taken by the Company under this clause (i). 

(ii) As a condition to its participation in the Exchange Offer pursuant to the terms of this Agreement, each Holder of
Transfer Restricted Securities shall furnish, upon the request of the Company, prior to the Consummation of the Exchange Offer, a written representation to the Company (which may be contained in the letter of transmittal contemplated by the Exchange
Offer Registration Statement) to the effect that (A) it is not an affiliate of the Company or any of the Subsidiary Guarantors, (B) it is not engaged in, and does not intend to engage in, and has no arrangement or understanding with any
person to participate in, a distribution of the New Notes to be issued in the Exchange Offer and (C) it is acquiring the New Notes in its ordinary course of business. In addition, all such Holders of Transfer Restricted Securities shall
otherwise cooperate in the Company’ preparations for the Exchange Offer. 
 (iii) The Company and the
Initial Purchasers acknowledge that the staff of the Commission has taken the position that any broker-dealer that owns New Notes that were received by such Broker-Dealer for its own account in the Exchange Offer (a “Participating
Broker-Dealer”) may be deemed to be an “underwriter” within the meaning of the Act and must deliver a prospectus meeting the requirements of the Act in connection with any resale of such New Notes (other than a resale of an unsold
allotment resulting from the original offering of the Old Notes). 
 The Company and the Initial Purchasers also
acknowledge that it is the Commission staff’s position that if the Prospectus contained in the Exchange Offer Registration Statement includes a plan of distribution containing a statement to the above effect and the means by which Participating
Broker-Dealers may resell the New Notes, without naming the Participating Broker-Dealers or specifying the amount of New Notes owned by them, such Prospectus may be delivered by Participating Broker-Dealers to satisfy their prospectus delivery
obligations under the Act in connection with resales of New Notes for their own accounts, so long as the Prospectus otherwise meets the requirements of the Act. 
 (b) Shelf Registration Statement. In the event that a Shelf Registration Statement is required by this Agreement, the Company and the Subsidiary Guarantors shall comply with all the provisions of
Section 6(c) of this Agreement and shall use their best efforts to effect such registration to permit the sale of the Transfer Restricted 

  
 6 

 
Securities being sold in accordance with the intended method or methods of distribution of such Transfer Restricted Securities and, in connection therewith, the Company and the Subsidiary
Guarantors will as expeditiously as possible prepare and file with the Commission a Shelf Registration Statement relating to such registration on any appropriate form under the Act, which form shall be available for the sale of the Transfer
Restricted Securities in accordance with the intended method or methods of distribution of such Transfer Restricted Securities. 

(c) General Provisions. In connection with any Registration Statement and any Prospectus required by this Agreement to permit the
sale or resale of Transfer Restricted Securities (including, without limitation, any Registration Statement and the related Prospectus, to the extent that the same are required to be available to permit resales of Notes by Broker-Dealers), the
Company and the Subsidiary Guarantors shall: 
 (i) use their best efforts to keep such Registration Statement
continuously effective for the applicable time period required hereunder and provide all requisite financial statements (including, if required by the Act or any regulation thereunder, financial statements of the Subsidiary Guarantors) for the
period specified in Section 3 or 4 of this Agreement, as applicable; upon the occurrence of any event that would cause any such Registration Statement or the Prospectus contained therein (A) to contain a material misstatement or omission
or (B) not to be effective and usable for resale of Transfer Restricted Securities during the period required by this Agreement, the Company shall promptly notify the Holders to suspend use of the Prospectus, and the Holders shall suspend use
of the Prospectus, and such Holders shall not communicate non-public information to any third party, in violation of the securities laws, until the Company and the Subsidiary Guarantors have made an appropriate amendment to such Registration
Statement, in the case of clause (A), correcting any such misstatement or omission, and, in the case of either clause (A) or (B), the Company and the Subsidiary Guarantors shall use their best efforts to cause such amendment to be declared
effective and such Registration Statement and the related Prospectus to become usable for their intended purpose(s) as soon as practicable thereafter; 
 (ii) prepare and file with the Commission such amendments and post-effective amendments to any such Registration Statement as may be necessary to keep such Registration Statement effective for the
applicable period set forth in Section 3 or 4 of this Agreement, or such shorter period as will terminate when all Transfer Restricted Securities covered by such Registration Statement have been sold; cause the Prospectus to be supplemented by
any required Prospectus supplement, and as so supplemented to be filed pursuant to Rule 424 under the Act during the applicable time period required hereunder and to comply fully with the applicable provisions of Rules 424 and 430A under the Act in
a timely manner; and comply with the provisions of the Act and the Exchange Act with respect to the disposition of all Transfer Restricted Securities covered by such Registration Statement during such period in accordance with the intended method or
methods of distribution by the sellers of such securities set forth in such Registration Statement as so amended or in such Prospectus as so supplemented; 
 (iii) advise the Underwriters, if any, the Initial Purchasers, and, in the case of a Shelf Registration Statement, each of the selling Holders promptly and, if requested by such Persons, to confirm such
advice in writing, (A) when the Prospectus or any prospectus supplement or post-effective amendment has been filed and, with respect to any Registration Statement or any post-effective amendment thereto, when the same has become effective,
(B) of any request by the Commission for amendments to the Registration Statement or amendments or supplements to the Prospectus or for additional information relating to such Registration Statement or Prospectus, (C) of the issuance by
the Commission of any stop order suspending the effectiveness of the Registration Statement under the Act or of the suspension by any state securities commission of the qualification of the Transfer Restricted Securities for offering or sale in any
jurisdiction, or the initiation of any proceeding for any of the preceding purposes, (D) of the existence of any fact or the happening of any event that makes any statement of a material fact made in the Registration Statement, the Prospectus,
any amendment or supplement to such Registration Statement or Prospectus, as the case may be, or any document incorporated by reference in such Registration Statement or Prospectus untrue in any material respect, or that requires the making of any
additions to or changes in the Registration Statement or the Prospectus in order to make the statements in such Registration Statement or Prospectus not misleading and that in the case of the Prospectus, it will not contain any untrue statement of a
material fact or omit to state any material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading. If at any time the Commission shall issue any
stop order suspending the effectiveness of 

  
 7 

 
the Registration Statement, or any state securities commission or other regulatory authority shall issue an order suspending the qualification or exemption from qualification of the Transfer
Restricted Securities under state securities or Blue Sky laws, the Company and the Subsidiary Guarantors shall use their best efforts to obtain the withdrawal or lifting of such order at the earliest possible time; 

(iv) furnish to each of the Underwriters, if any, the Initial Purchasers and, in the case of a Shelf Registration
Statement, each of the selling Holders before filing with the Commission, copies of any Registration Statement or any Prospectus included in such Registration Statement or Prospectus or any amendments or supplements to any such Registration
Statement or Prospectus (including all documents incorporated by reference after the initial filing of such Registration Statement), which documents shall be subject to the reasonable review of such Underwriters, if any, the Initial Purchasers, and
such selling Holders for a period of at least five business days, and the Company and the Subsidiary Guarantors will not file any such Registration Statement or Prospectus or any amendment or supplement to any such Registration Statement or
Prospectus, as the case may be, (including all such documents incorporated by reference) to which any such underwriter, the Initial Purchasers or any such selling Holder shall reasonably object within five business days after the receipt of such
Registration Statement or Prospectus. A selling Holder or underwriter, if any, shall be deemed to have reasonably objected to such filing if such Registration Statement, Prospectus, amendment or supplement, as applicable, as proposed to be filed,
contains a material misstatement or omission; 
 (v) promptly prior to the filing of any document that is to be
incorporated by reference into a Registration Statement or Prospectus, (a) provide copies of such document to the selling Holders and to the Underwriters, if any, (b) make the Company’s and the Subsidiary Guarantors’
representatives available for discussion of such document and other customary due diligence matters; provided that such discussion and due diligence shall be coordinated on behalf of the selling Holders by one counsel designated by and on
behalf of such selling Holders and (c) include such information in such document prior to the filing of such document as such selling Holders or Underwriters, if any, may reasonably request; 

(vi) make available at reasonable times for inspection by the selling Holders, any underwriter participating in any
disposition pursuant to such Registration Statement and any attorney or accountant retained by such selling Holders or any of the Underwriters, if any, at the offices where normally kept, during reasonable business hours, all relevant financial and
other records, pertinent corporate documents and properties of the Company and the Subsidiary Guarantors and cause the Company’s and the Subsidiary Guarantors’ officers, directors and employees to supply all information reasonably
requested by any such Holder, underwriter, attorney or accountant in connection with such Registration Statement subsequent to the filing thereof and prior to its effectiveness; provided, however, that such persons shall first agree in
writing with the Company that any information that is reasonably and in good faith designated by the Company in writing as confidential at the time of delivery of such information shall be kept confidential by such persons, unless and to the extent
that (i) disclosure of such information is required by court or administrative order or is necessary to respond to inquiries of regulatory authorities, (ii) disclosure of such information is required by law (including any disclosure
requirements pursuant to federal securities laws in connection with the filing of the Shelf Registration Statement or the use of any Prospectus), (iii) such information becomes generally available to the public other than as a result of a
disclosure or failure to safeguard such information by such person or (iv) such information becomes available to such person from a source other than the Company and its Subsidiaries and such source is not bound by a confidentiality agreement;

 (vii) if requested by any selling Holders or the Underwriters, if any, promptly incorporate in any
Registration Statement or Prospectus, pursuant to a supplement or post-effective amendment if necessary, such information as such selling Holders and Underwriters, if any, may reasonably request to have included therein, including, without
limitation, information relating to the “Plan of Distribution” of the Transfer Restricted Securities, information with respect to the principal amount of Transfer Restricted Securities being sold to such Underwriters, the purchase price
being paid for Transfer Restricted Securities and any other terms of the offering of the Transfer Restricted Securities to be sold in such offering; and make all required filings of such Prospectus supplement or post-effective amendment as soon as
practicable after the Company is notified of the matters to be incorporated in such Prospectus supplement or post-effective amendment; provided, however, 

  
 8 

 
that the Company shall not be required to take any action pursuant to this Section 6(c)(vii) that would, in the opinion of counsel for the Company, violate applicable law; 

(viii) furnish to each underwriter, if any, the Initial Purchasers and upon request to the Company to a selling Holder
without charge, at least one conformed copy of such Registration Statement, as first filed with the Commission, and of each amendment thereto, including, upon the request of such Person, all documents incorporated by reference therein and all
exhibits to the extent requested (including exhibits incorporated therein by reference); 
 (ix) deliver to each
selling Holder, each of the Underwriters, if any, and the Initial Purchasers, without charge, as many copies of the Prospectus (including each preliminary prospectus) and any amendment or supplement thereto as such Persons may reasonably request;
the Company and the Subsidiary Guarantors hereby consent to the use of the Prospectus and any amendment or supplement to the Prospectus by each of the selling Holders and each of the Underwriters, if any, in connection with the offering and the sale
of the Transfer Restricted Securities in accordance with the terms thereof and with U.S. federal securities laws and Blue Sky laws covered by the Prospectus or any amendment or supplement thereto; 

(x) enter into such agreements (including an underwriting agreement in form, scope and substance as is customary in
underwritten offerings of securities of this type) and take all such other reasonable actions in connection therewith in order to expedite or facilitate the disposition of the Transfer Restricted Securities pursuant to any Registration Statement
contemplated by this Agreement, all as may be reasonably requested by any Holder of Transfer Restricted Securities or the Underwriters, if any, in connection with any sale or resale of Transfer Restricted Securities pursuant to any Registration
Statement contemplated by this Agreement; and whether or not an underwriting agreement is entered into and whether or not the registration is an Underwritten Registration, the Company and the Subsidiary Guarantors shall (i) make such
representations and warranties to the Holders of such Transfer Restricted Securities and the Underwriters, if any, with respect to the business of the Company and its Subsidiaries (including with respect to businesses or assets acquired or to be
acquired by any of them), and the Shelf Registration Statement, Prospectus and documents, if any, incorporated or deemed to be incorporated by reference therein, in each case, in form, substance and scope as are customarily made by issuers to
underwriters in underwritten offerings, and confirm the same if and when customarily requested; (ii) obtain opinions of counsel to the Company and the Subsidiary Guarantors and updates thereof (which counsel and opinions (in form, scope and
substance) shall be reasonably satisfactory to the Underwriters, if any, and special counsel to the Holders of the Transfer Restricted Securities being sold), addressed to each selling Holder of Transfer Restricted Securities and each of the
Underwriters, if any, covering the matters customarily covered in opinions requested in underwritten offerings and such other matters as may be reasonably requested by such Underwriters, if any, and special counsel to Holders of Transfer Restricted
Securities; (iii) use their best efforts to obtain customary “cold comfort” letters and updates thereof from the independent certified public accountants of the Company (and, if necessary, any other independent certified public
accountants of any subsidiary of the Company or of any business acquired by the Company or any such Subsidiary for which financial statements and financial data is, or is required to be, included in the Registration Statement), addressed (where
reasonably possible) to each selling Holder of Transfer Restricted Securities and each of the Underwriters, if any, such letters to be in customary form and covering matters of the type customarily covered in “cold comfort” letters in
connection with underwritten offerings; (iv) if an underwriting agreement is entered into, the same shall contain indemnification provisions and procedures no less favorable to the selling Holders and the Underwriters, if any, than those set
forth in Section 8 hereof (or such other provisions and procedures acceptable to Holders of a majority in aggregate principal amount of Transfer Restricted Securities covered by such Shelf Registration Statement and the Underwriters, if any);
and (v) deliver such documents and certificates as may be reasonably requested by the Holders of a majority in aggregate principal amount of the Transfer Restricted Securities being sold and the Underwriters, if any, to evidence the continued
validity of the representations and warranties made pursuant to clause (i) above and to evidence compliance with any customary conditions contained in the underwriting agreement or other agreement entered into by the Company. 

If at any time the representations and warranties of the Company and the Subsidiary Guarantors contemplated in clause
(i) above cease to be true and correct, the Company shall so advise the Initial Purchasers 

  
 9 

 
and the Underwriters, if any, and each selling Holder promptly and, if requested by any of them, shall confirm such advice in writing; 

(xi) prior to any public offering of Transfer Restricted Securities, cooperate with and cause the Subsidiary Guarantors to
cooperate with the selling Holders, the Underwriters, if any, and their respective counsel in connection with the registration and qualification (or exemption from such registration or qualification) of the Transfer Restricted Securities for offer
and sale under the securities or Blue Sky laws of such jurisdictions as the selling Holders and Underwriters, if any, may reasonably request in writing and do any and all other acts or things necessary or advisable to enable the disposition in such
jurisdictions of the Transfer Restricted Securities covered by the Registration Statement; provided, however, that neither the Company nor the Subsidiary Guarantors shall be required to register or qualify as a foreign corporation
where it is not now so qualified or to take any action that would subject it to the service of process or to taxation, other than as to matters and transactions relating to the Registration Statement, in any jurisdiction where it is not now so
subject; 
 (xii) if a Shelf Registration is filed pursuant to Section 4, cooperate with the selling Holders
of registrable securities and the managing Underwriters, if any, to facilitate the timely preparation and delivery of certificates representing Transfer Restricted Securities to be sold, which certificates shall not bear any restrictive legends and
shall be in a form eligible for deposit with The Depository Trust Company; and enable such Transfer Restricted Securities to be in such denominations and registered in such names as the managing Underwriters, if any, or Holders may reasonably
request; 
 (xiii) in connection with any sale or transfer of Transfer Restricted Securities that will result in
such securities no longer being Transfer Restricted Securities, cooperate with and cause the Subsidiary Guarantors to cooperate with the selling Holders and the Underwriters, if any, to facilitate the timely preparation and delivery of certificates
representing Transfer Restricted Securities to be sold and not bearing any restrictive legends; and enable such Transfer Restricted Securities to be in such denominations and registered in such names as the Holders or the Underwriters, if any, may
request at least two business days prior to any sale of Transfer Restricted Securities made by such Underwriters; 
 (xiv) use their best efforts to cause the Transfer Restricted Securities covered by the Registration Statement to be registered with or approved by such other governmental agencies or authorities as may
be necessary to enable the seller or sellers of such Transfer Restricted Securities or the Underwriters, if any, to consummate the disposition of such Transfer Restricted Securities, subject to the proviso contained in clause (xi) above;

 (xv) if any fact or event contemplated by Section 6(c)(iii)(D) of this Agreement shall exist or have
occurred, prepare a supplement or post-effective amendment to the Registration Statement or related Prospectus or any document incorporated in such Registration Statement or Prospectus by reference or file any other required document so that, as
thereafter delivered to the purchasers of Transfer Restricted Securities, the Registration Statement will not contain an untrue statement of a material fact or omit to state any material fact necessary to make the statements therein not misleading
and the Prospectus will not contain an untrue statement of a material fact or omit to state any material fact required to be stated therein or necessary to make the statements contained therein, in the light of the circumstances under which they
were made, not misleading; 
 (xvi) provide a CUSIP number for all Transfer Restricted Securities not later than
the effective date of the Registration Statement and provide the Trustee under the Indenture (or its successor) with printed certificates for the Transfer Restricted Securities that are in a form eligible for deposit with The Depository Trust
Company; 
 (xvii) cooperate and assist in any filings required to be made with FINRA and in the performance of
any due diligence investigation by any underwriter (including any “qualified independent underwriter” that is required to be retained in accordance with the rules and regulations of FINRA); 

(xviii) otherwise use its best efforts to comply with all applicable rules and regulations of the Commission in regards to
any Registration Statement, and make generally available to its securityholders, as soon as practicable, a consolidated earning statement of the Company meeting the requirements of Rule 158 

  
 10 

 
(which need not be audited) for the twelve-month period (A) commencing at the end of any fiscal quarter in which Transfer Restricted Securities are sold to Underwriters in a firm commitment
or reasonable best efforts Underwritten Offering or (B) if not sold to Underwriters in such an Underwritten Offering, beginning with the first month of the Company’s first fiscal quarter commencing after the effective date of the
Registration Statement; 
 (xix) cause the Indenture to be qualified under the TIA not later than the effective
date of the first Registration Statement required by this Agreement, and, in connection therewith, cooperate with the Trustee and the Holders to effect such changes to the Indenture, if any, as may be required for such Indenture to be so qualified
in accordance with the terms of the TIA; and execute, and use its best efforts to cause the Trustee to execute, all customary documents that may be required to effect such changes and all other forms and documents required to be filed with the
Commission to enable such Indenture to be so qualified in a timely manner. 
 Each Holder agrees by acquisition of a Transfer
Restricted Security that, upon receipt of any notice from the Company of the existence of any fact of the kind described in Section 6(c)(iii)(D) of this Agreement, such Holder will forthwith discontinue disposition of Transfer Restricted
Securities pursuant to the applicable Registration Statement until such Holder’s receipt of the copies of the supplemented or amended Prospectus contemplated by Section 6(c)(xv) of this Agreement, or until it is advised in writing (the
“Advice”) by the Company that the use of the Prospectus may be resumed, and has received copies of any additional or supplemental filings that are incorporated by reference in the Prospectus. If so directed by the Company, each
Holder will deliver to the Company (at the Company’s expense) all copies, other than permanent file copies then in such Holder’s possession, of the Prospectus covering such Transfer Restricted Securities that was current at the time of
receipt of such notice. In the event that the Company shall give any such notice, the time period regarding the effectiveness of such Registration Statement set forth in Section 3 or 4 of this Agreement, as applicable, shall be extended by the
number of days during the period from and including the date of the giving of such notice pursuant to Section 6(c)(iii)(D) of this Agreement to and including the date when each selling Holder covered by such Registration Statement shall have
received the copies of the supplemented or amended Prospectus contemplated by Section 6(c)(xv) of this Agreement or shall have received the Advice. 
 SECTION 7. REGISTRATION EXPENSES 
 (a) All fees and expenses incident to the
Company’s and the Subsidiary Guarantors’ performance of or compliance with this Agreement will be borne by the Company regardless of whether a Registration Statement becomes effective, including without limitation: (i) all
registration and filing fees and expenses (including filings made with FINRA (and, if applicable, the fees and expenses of any “qualified independent underwriter” and its counsel that may be required by the rules and regulations of
FINRA)); (ii) all fees and expenses of compliance with federal securities and state Blue Sky or securities laws; (iii) all expenses of printing (including printing certificates for the New Notes to be issued in the Exchange Offer and
printing of Prospectuses); (iv) all fees and disbursements of counsel for the Company, the Subsidiary Guarantors and, subject to Section 7(b) below, the Holders of Transfer Restricted Securities; and (v) all fees and disbursements of
independent certified public accountants of the Company (including the expenses of any special audit and comfort letters required by or incident to such performance). 
 The Company will, in any event, bear its internal expenses (including, without limitation, all salaries and expenses of its officers and employees performing legal or accounting duties), the expenses of
any annual audit and the fees and expenses of any Person, including special experts, retained by it. 
 Notwithstanding the
foregoing or anything in this Agreement to the contrary, each Holder of Transfer Restricted Securities shall pay all underwriting discounts and commissions of any Underwriters with respect to any Notes sold by or on behalf of it. 

(b) In connection with any Registration Statement required by this Agreement (including, without limitation, the Exchange Offer
Registration Statement and the Shelf Registration Statement), the Company will reimburse the Initial Purchasers and the Holders of Transfer Restricted Securities being tendered in the Exchange Offer and/or resold pursuant to the “Plan of
Distribution” contained in the Exchange Offer Registration Statement or registered pursuant to the Shelf Registration Statement, as applicable, for the reasonable fees and disbursements of not more than one counsel, who shall be Davis
Polk & Wardwell LLP or such other counsel as may be chosen by the 

  
 11 

 
Holders of a majority in principal amount of the Transfer Restricted Securities for whose benefit such Registration Statement is being prepared. 

SECTION 8. INDEMNIFICATION 

(a) The Company and each of the Subsidiary Guarantors jointly and severally agree to indemnify and hold harmless (i) the Initial
Purchasers, each Holder of Transfer Restricted Securities and each Participating Broker Dealer, (ii) each person, if any, who controls any of the foregoing within the meaning of Section 15 of the Act or Section 20(a) of the Exchange
Act (any of the persons referred to in this clause (ii) being hereinafter referred to as a “controlling person”) and (iii) the agents, employees, officers and directors and the agents, employees, officers and directors of
any such controlling person (collectively, the “Indemnified Persons”) from and against any and all losses, liabilities, claims, damages and reasonable expenses whatsoever (including but not limited to reasonable attorneys’ fees
and any and all reasonable expenses whatsoever incurred in investigating, preparing or defending against any litigation, commenced or threatened, or any claim whatsoever, and any and all reasonable amounts paid in settlement of any claim or
litigation) to which they or any of them may become subject under the Act, the Exchange Act or otherwise, insofar as such losses, liabilities, claims, damages or expenses (or actions in respect thereof) arise out of or are based upon any untrue
statement or alleged untrue statement of a material fact contained in any Registration Statement or Prospectus, or in any supplement thereto or amendment thereof, or arise out of or are based upon the omission or alleged omission to state therein a
material fact required to be stated therein or necessary to make the statements therein, in the light of the circumstances under which they were made, not misleading; provided, however, that the Company and the Subsidiary Guarantors
will not be liable in any such case to the extent, but only to the extent, that any such loss, liability, claim, damage or expense arises out of or is based upon any such untrue statement or alleged untrue statement or omission or alleged omission
made therein in reliance upon and in conformity with written information furnished to the Company by or on behalf of any Indemnified Person relating to such Indemnified Person expressly for use therein; provided, further, that the
Company and the Subsidiary Guarantors shall not be liable to any Indemnified Person under the indemnity agreement in this subsection with respect to any preliminary Prospectus to the extent that any such loss, claim, damage or liability of such
Indemnified Person results solely from an untrue statement of a material fact contained in, or the omission of a material fact from, such preliminary Prospectus that was corrected in the final Prospectus, if the Company or the Subsidiary Guarantors
shall sustain the burden of proving that such Indemnified Person sold Transfer Restricted Securities to the person alleging such loss, claim, damage or liability without sending or giving, at or prior to the written confirmation of such sale, a copy
of the Prospectus or of the Prospectus as then amended or supplemented even though the Company and the Subsidiary Guarantors had previously furnished copies thereof to such Indemnified Person. This indemnity agreement will be in addition to any
liability that the Company or any of the Subsidiary Guarantors may otherwise have, including, but not limited to, under this Agreement. 
 (b) In connection with any Registration Statement pursuant to which a Holder of Transfer Restricted Securities offers or sells Transfer Restricted Securities, such Holder agrees, severally and not
jointly, to indemnify and hold harmless the Company and the Subsidiary Guarantors, their respective directors and officers and any person controlling the Company or a Subsidiary Guarantor within the meaning of Section 15 of the Securities Act
or Section 20 of the Exchange Act, to the same extent as the foregoing indemnity from the Company and the Subsidiary Guarantors to each Indemnified Person but only with respect to information relating to such Holder furnished in writing by or
on behalf of such Holder expressly for use in such Registration Statement. In any such case in which any action shall be brought against the Company or a Subsidiary Guarantor, any director or officer of the Company or a Subsidiary Guarantor or any
person controlling the Company or a Subsidiary Guarantor based on such Registration Statement and in respect of which indemnity may be sought against a Holder of Transfer Restricted Securities, such Holder shall have the rights and duties given to
the Company and the Subsidiary Guarantors (except that if the Company or a Subsidiary Guarantor shall have assumed the defense thereof, such Holder shall not be required to do so, but may employ separate counsel therein and participate in the
defense thereof but the fees and expenses of such counsel shall be at the expense of such Holder), and the Company and the Subsidiary Guarantors, their respective directors and officers and any person controlling the Company or a Subsidiary
Guarantor shall have the rights and duties given to the Indemnified Persons by Section 8(a) hereof. 
 (c) Promptly after
receipt by an indemnified party under subsection (a) or (b) above of notice of the commencement of any action, suit or proceeding (collectively, an “Action”), such indemnified party shall, if a claim in respect thereof is
to be made against the indemnifying party under such subsection, promptly notify each party 

  
 12 

 
against whom indemnification is to be sought in writing of the commencement of such Action (but the failure so to notify an indemnifying party shall not relieve such indemnifying party from any
liability that it may have under this Section 8 except to the extent that it has been prejudiced in any material respect by such failure or from any liability which it may otherwise have). In case any such Action is brought against any
indemnified party, and it notifies an indemnifying party of the commencement of such Action, the indemnifying party will be entitled to participate in such Action, and to the extent it may elect by written notice delivered to the indemnified party
promptly after receiving the aforesaid notice from such indemnified party, to assume the defense of such Action with counsel reasonably satisfactory to such indemnified party. Notwithstanding the foregoing, the indemnified party or parties shall
have the right to employ its or their own counsel in any such Action, but the fees and expenses of such counsel shall be at the expense of such indemnified party or parties unless (i) the employment of such counsel shall have been authorized in
writing by the indemnifying parties in connection with the defense of such Action, (ii) the indemnifying parties shall not have employed counsel to take charge of the defense of such Action within a reasonable time after notice of commencement
of the Action, or (iii) such indemnified party or parties shall have reasonably concluded that there may be defenses available to it or them that are different from or additional to those available to one or all of the indemnifying parties (in
which case the indemnifying parties shall not have the right to direct the defense of such Action on behalf of the indemnified party or parties), in any of which events such fees and expenses of counsel shall be borne by the indemnifying parties. In
no event shall the indemnifying party be liable for the fees and expenses of more than one counsel (together with appropriate local counsel) at any time for all indemnified parties in connection with any one Action or separate but substantially
similar or related Actions in the same jurisdiction arising out of the same general allegations or circumstances. Anything in this subsection to the contrary notwithstanding, an indemnifying party shall not be liable for any settlement of any claim
or Action effected without its written consent; provided, however, that such consent was not unreasonably withheld. 
 (d) In order to provide for contribution in circumstances in which the indemnification provided for in paragraphs (a) and (b) of this Section 8 is for any reason held to be unavailable from
the indemnifying party, or is insufficient to hold harmless a party indemnified under this Section 8, the Company, the Subsidiary Guarantors and the Indemnified Persons shall contribute to the aggregate losses, claims, damages, liabilities and
expenses of the nature contemplated by such indemnification provision (including any reasonable investigation, legal and other expenses incurred in connection with, and any amount paid in settlement of, any Action or any claims asserted, but after
deducting in the case of losses, claims, damages, liabilities and expenses suffered by the indemnifying party, any contribution received by the indemnifying party, from persons other than the indemnified party who may also be liable for
contribution, including persons who control the indemnified party within the meaning of Section 15 of the Act or Section 20(a) of the Exchange Act) to which the Company, the Subsidiary Guarantors and the Indemnified Persons may be subject,
in such proportion as is appropriate to reflect the relative benefits received by the Company and the Subsidiary Guarantors, on the one hand, and the Indemnified Persons, on the other hand, from the offering of the Old Notes or, if such allocation
is not permitted by applicable law or indemnification is not available as a result of the indemnifying party not having received notice as provided in paragraph (c) of this Section 8, in such proportion as is appropriate to reflect not
only the relative benefits referred to above but also the relative fault of the Company and the Subsidiary Guarantors, on the one hand, and the Indemnified Persons, on the other hand, in connection with the statements or omissions that resulted in
such losses, claims, damages, liabilities or expenses, as well as any other relevant equitable considerations. The relative benefits received by the Company and the Subsidiary Guarantors shall be deemed to be in the same proportion as the total
proceeds from the offering of Old Notes (net of discounts but before deducting expenses) received by the Company. The relative fault of the Company and the Subsidiary Guarantors, on the one hand, and the Indemnified Persons, on the other hand, shall
be determined by reference to, among other things, whether the untrue or alleged untrue statement of a material fact or the omission or alleged omission to state a material fact relates to information supplied by the Company, the Subsidiary
Guarantors or the Indemnified Persons and the parties’ relative intent, knowledge, access to information and opportunity to correct or prevent such statement or omission. 
 (e) The Company, the Subsidiary Guarantors and the Initial Purchasers agree that it would not be just and equitable if contribution pursuant to paragraph (d) of this Section 8 were determined by
pro rata allocation or by any other method of allocation that does not take into account the equitable considerations referred to above. Notwithstanding the provisions of paragraph (d) of this Section 8, (i) in no case shall an
Indemnified Person be required to contribute any amount in excess of the amount by which the total received by such Indemnified Person with respect to its sale of its Transfer Restricted Securities or New Notes, as the case may be, exceeds the
amount of any damages that such Indemnified Person has otherwise been required to pay by reason of any untrue or alleged 

  
 13 

 
untrue statement or omission or alleged omission and (ii) no person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Act) shall be entitled to
contribution from any person who was not guilty of such fraudulent misrepresentation. For purposes of paragraphs (d) and (e) of this Section 8, each person, if any, who controls an Indemnified Person within the meaning of
Section 15 of the Act or Section 20(a) of the Exchange Act shall have the same rights to contribution as such Indemnified Person, and each person, if any, who controls the Company or the Subsidiary Guarantors within the meaning of
Section 15 of the Act or Section 20(a) of the Exchange Act shall have the same rights to contribution as the Company or the Subsidiary Guarantors, subject in each case to clauses (i) and (ii) of this Section 8(e). Any party
entitled to contribution will, promptly after receipt of notice of commencement of any Action against such party in respect of which a claim for contribution may be made against another party or parties under paragraphs 8(d) or (e) of this
Section 8, notify such party or parties from whom contribution may be sought, but the omission to so notify such party or parties shall not relieve the party or parties from whom contribution may be sought from any obligation it or they may
have under paragraphs (d) or (e) of this Section 8 or otherwise. No party shall be liable for contribution with respect to any Action or claim settled without its written consent; provided, however, that such written
consent was not unreasonably withheld. 
 SECTION 9. RULE 144A 
 The Company shall use its best efforts, for so long as any Transfer Restricted Securities remain outstanding, to make available to any Holder of Transfer Restricted Securities in connection with any sale
of such securities and any prospective purchaser of such Transfer Restricted Securities from such Holder, the information required by Rule 144A(d)(4) under the Act in order to permit resales of such Transfer Restricted Securities pursuant to Rule
144A. 
 SECTION 10. PARTICIPATION IN UNDERWRITTEN REGISTRATIONS 
 No Holder may participate in any Underwritten Registration under this Agreement unless such Holder (a) agrees to sell such Holder’s Transfer Restricted Securities on the basis provided in any
underwriting arrangements approved by the Persons entitled under this Agreement to approve such arrangements and (b) completes and executes all reasonable questionnaires, powers of attorneys, indemnities, underwriting agreements, lock-up
letters and other documents required under the terms of such underwriting arrangements. 
 SECTION 11. SELECTION OF UNDERWRITERS

 The Holders of Transfer Restricted Securities covered by the Shelf Registration Statement who desire to do so may sell such
Transfer Restricted Securities in an Underwritten Offering. In any such Underwritten Offering, the investment banker or investment bankers and manager or managers that will administer the offering (the “Underwriters”) will be
selected by the Holders of a majority in aggregate principal amount of the Transfer Restricted Securities included in such offering; provided, that such Underwriters must be reasonably satisfactory to the Company. 

SECTION 12. MISCELLANEOUS 

(a) Remedies. Each Holder, in addition to being entitled to exercise all rights provided in this Agreement, in the Indenture, the
Purchase Agreement or granted by law, including recovery of liquidated or other damages, will be entitled to specific performance of its rights under this Agreement. The Company and the Subsidiary Guarantors agree that monetary damages would not be
adequate compensation for any loss incurred by reason of a breach by it of the provisions of this Agreement and hereby agree to waive the defense in any Action for specific performance that a remedy at law would be adequate. 

(b) No Inconsistent Agreements. Neither the Company nor any Subsidiary Guarantor will on or after the date of this Agreement enter
into any agreement with respect to its securities that is inconsistent with the rights granted to the Holders in this Agreement or otherwise conflicts with the provisions of this Agreement. Neither the Company nor any Subsidiary Guarantor has
previously entered into any agreement granting any registration rights with respect to its securities to any Person. The rights granted to the Holders under this Agreement do not in any way conflict with and are not inconsistent with the rights
granted to the holders of the Company’s or the Subsidiary Guarantors’ securities under any agreement in effect on the date of this Agreement. 

  
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 (c) Adjustments Affecting the Notes. Without the written consent of the Holders of a
majority in aggregate principal amount of outstanding Transfer Restricted Notes, the Company and the Subsidiary Guarantors will not take any action, or permit any change to occur, with respect to any of the Notes that would materially and adversely
affect the ability of the Holders to Consummate any Exchange Offer. 
 (d) Amendments and Waivers. The provisions of this
Agreement may not be amended, modified or supplemented, and waivers or consents to or departures from the provisions of this Agreement may not be given unless the Company has obtained the written consent of Holders of a majority of the outstanding
principal amount of Transfer Restricted Securities. Notwithstanding the foregoing, a waiver or consent to departure from the provisions of this Agreement that relates exclusively to the rights of Holders whose securities are being sold or tendered
pursuant to a Registration Statement and that does not affect directly or indirectly the rights of other Holders whose securities are not being sold or tendered pursuant to such Registration Statement may be given by the Holders of a majority of the
outstanding principal amount of Transfer Restricted Securities being so sold or tendered. 
 (e) Notices. All notices and
other communications provided for or permitted hereunder shall be made in writing by hand-delivering, first-class mail (registered or certified, return receipt requested), telex, telecopier or air courier guaranteeing overnight delivery: 

(i) if to a Holder, at the address set forth on the records of the Registrar under the Indenture, with a copy to the
Registrar under the Indenture; and 
 (ii) if to the Company or the Subsidiary Guarantors, at: 

United Refining Company 
 15 Bradley Street 
 Warren, Pennsylvania 16365 

Facsimile: (814) 723-4371 
 Attention: Myron Turfitt 
 with a copy to: 

Cahill Gordon & Reindel LLP 
 Eighty Pine Street 
 New York, NY 10005 

Facsimile: (212) 378-2437 
 Attention: Richard Farley 
 All such notices and communications shall be deemed to
have been duly given: (i) at the time delivered by hand, if personally delivered; (ii) five business days after being deposited in the mail, postage prepaid, if mailed; (iii) when answered back, if telexed; (iv) when receipt
acknowledged, if telecopied; and (v) on the next business day, if timely delivered to an air courier guaranteeing overnight delivery. 
 Copies of all such notices, demands or other communications shall be concurrently delivered by the Person giving the same to the Trustee at the address specified in the Indenture. 

(f) Successors and Assigns. This Agreement shall inure to the benefit of and be binding upon the successors and permitted assigns
of each of the parties, including without limitation and without the need for an express assignment, subsequent Holders of Transfer Restricted Securities. 
 (g) Counterparts. This Agreement may be executed in any number of counterparts and by the parties to this Agreement in separate counterparts, each of which when so executed shall be deemed to be an
original and all of which taken together shall constitute one and the same agreement. 
 (h) Headings. The headings in
this Agreement are for convenience of reference only and shall not limit or otherwise affect the meaning of this Agreement. 

(i) Governing Law. THIS AGREEMENT AND ANY CLAIM, CONTROVERSY OR DISPUTE ARISING UNDER THIS AGREEMENT SHALL BE GOVERNED BY AND
CONSTRUED IN ACCORDANCE 

  
 15 

 
WITH THE LAWS OF THE STATE OF NEW YORK, WITHOUT REGARD TO THE CONFLICT OF LAW RULES THEREOF. 
 (j) Severability. In the event that any one or more of the provisions contained in this Agreement, or the application of any such provision in any circumstance, is held invalid, illegal or
unenforceable, the validity, legality and enforceability of any such provision in every other respect and of the remaining provisions contained in this Agreement shall not be affected or impaired thereby. 

(k) Entire Agreement. This Agreement together with the Indenture and the Purchase Agreement is intended by the parties as a final
expression of their agreement and intended to be a complete and exclusive statement of the agreement and understanding of the parties to this Agreement in respect of the subject matter contained in this Agreement. There are no restrictions,
promises, warranties or undertakings, other than those set forth or referred to in this Agreement with respect to the registration rights granted by the Company with respect to the Transfer Restricted Securities. This Agreement supersedes all prior
agreements and understandings between the parties with respect to such subject matter. 
 [–Signatures pages follow–]

  
 16 

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

 

			
	UNITED REFINING COMPANY
		
	By:	 	 
	Name:	 	John A. Catsmatidis
	Title:	 	Chief Executive Officer

  

			
	KIANTONE PIPELINE CORPORATION
		
	By:	 	 
	Name:	 	John A. Catsmatidis
	Title:	 	Chief Executive Officer

  

			
	KIANTONE PIPELINE COMPANY
		
	By:	 	 
	Name:	 	John A. Catsmatidis
	Title:	 	President

  

			
	UNITED JET CENTER, INC.
		
	By:	 	 
	Name:	 	John A. Catsmatidis
	Title:	 	President

  

			
	UNITED REFINING COMPANY OF PENNSYLVANIA
		
	By:	 	 
	Name:	 	John A. Catsmatidis
	Title:	 	Chief Executive Officer

  

			
	KWIK-FILL CORPORATION
		
	By:	 	 
	Name:	 	John A. Catsmatidis
	Title:	 	President

  

			
	INDEPENDENT GASOLINE AND OIL COMPANY OF ROCHESTER, INC.
		
	By:	 	 
	Name:	 	John A. Catsmatidis
	Title:	 	President

  
 17 

 
			
	P P C, INC.
		
	By:	 	 
	Name:	 	John A. Catsmatidis
	Title:	 	President

  

			
	SUPER TEST PETROLEUM, INC.
		
	By:	 	 
	Name:	 	John A. Catsmatidis
	Title:	 	President

  

			
	KWIK-FIL, INC.
		
	By:	 	 
	Name:	 	John A. Catsmatidis
	Title:	 	President

  

			
	VULCAN ASPHALT REFINING CORPORATION
		
	By:	 	 
	Name:	 	John A. Catsmatidis
	Title:	 	President

  
 18 

 
			
	COUNTRY FAIR, INC
		
	By:	 	 
	Name:	 	James E. Murphy
	Title:	 	Vice President – Finance

  

			
	By:	 	 
	Name:	 	John R. Wagner
	Title:	 	Vice President, General Counsel and Secretary

  

			
	BELL OIL CORP.
		
	By:	 	 
	Name:	 	James E. Murphy
	Title:	 	Vice President and Chief Executive Officer

  

			
	By:	 	 
	Name:	 	John R. Wagner
	Title:	 	Vice President, General Counsel and Secretary

  
 19 

 
			
	Accepted and agreed as of the date first above written:
	
	CREDIT SUISSE SECURITIES (USA) LLC
		
	By:	 	 
	Name:	 	
	Title:	 	

  
 20

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