UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): June 30, 2007
Commission File No. 1-10403
         
TE Products Pipeline
Company, LLC

(Exact name of Registrant as
specified in its charter)
   
Delaware
(State of Incorporation
or Organization)
   
26-0431046
(I.R.S. Employer
Identification Number)
1100 Louisiana Street, Suite 1600
Houston, Texas 77002

(Address of principal executive offices, including zip code)
(713) 381-3636
(Registrant’s telephone number, including area code)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
 
 

 


 

Item 8.01 Other Events .
On June 30, 2007, the registrant converted into a Texas limited partnership and immediately thereafter merged into a newly-formed Texas limited liability company that had no business operations prior to the merger. The resulting limited liability company is called TE Products Pipeline Company, LLC (the “Company”). In connection with this reorganization, the Company entered into three supplemental indentures to indentures under which its predecessor was the obligor or a guarantor in order to evidence its applicable obligations under such indentures. Attached as Exhibits 3.1 and 3.2 are the Company’s certificate of formation and limited liability company agreement. Also attached as Exhibits 4.1, 4.2 and 4.3 are the new supplemental indentures.
Item 9.01 Financial Statements and Exhibits.
     (d) Exhibits. The exhibits set forth below are filed herewith.
     
Exhibit Number
  Description of Exhibit
 
   
3.1
  Certificate of Formation of TE Products Pipeline Company, LLC dated as of June 28, 2007.
 
   
3.2
  Company Agreement of TE Products Pipeline Company, LLC by and between TEPPCO GP, Inc. and TEPPCO Partners, L.P. dated as of June 30, 2007.
 
   
4.1
  First Supplemental Indenture, dated as of June 30, 2007, by and among TE Products Pipeline Company, LLC and The Bank of New York Trust Company, N.A., as trustee.
 
   
4.2
  Second Supplemental Indenture, dated as of June 30, 2007, by and among TEPPCO Partners, L.P., as issuer, TE Products Pipeline Company, Limited Partnership, TCTM, L.P., TEPPCO Midstream Companies, L.P. , Val Verde Gas Gathering Company, L.P., TE Products Pipeline Company, LLC and TEPPCO Midstream Companies, LLC, as subsidiary guarantors, and The Bank of New York Trust Company, N.A., as trustee.
 
   
4.3
  Fourth Supplemental Indenture, dated June 30, 2007, by and among TEPPCO Partners, L.P., as issuer, TE Products Pipeline Company, Limited Partnership, TCTM, L.P., TEPPCO Midstream Companies, L.P., Val Verde Gas Gathering Company, L.P., TE Products Pipeline Company, LLC and TEPPCO Midstream Companies, LLC, as subsidiary guarantors, and U.S. Bank National Association, as trustee.

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SIGNATURES
     Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
         
  TE PRODUCTS PIPELINE COMPANY, LLC
 
 
  By:   TEPPCO GP, Inc.    
    Its: sole Manager   
     
  By:   /s/ William G. Manias  
    William G. Manias
Vice President and Chief Financial Officer 
 
       
 
Dated: July 5, 2007

 


 

EXHIBIT INDEX
     
Exhibit Number
  Description of Exhibit
 
   
3.1*
  Certificate of Formation of TE Products Pipeline Company, LLC dated as of June 28, 2007.
 
   
3.2*
  Company Agreement of TE Products Pipeline Company, LLC by and between TEPPCO GP, Inc. and TEPPCO Partners, L.P. dated as of June 30, 2007.
 
   
4.1*
  First Supplemental Indenture, dated as of June 30, 2007, by and among TE Products Pipeline Company, LLC and The Bank of New York Trust Company, N.A., as trustee.
 
   
4.2*
  Second Supplemental Indenture, dated as of June 30, 2007, by and among TEPPCO Partners, L.P., as issuer, TE Products Pipeline Company, Limited Partnership, TCTM, L.P., TEPPCO Midstream Companies, L.P. , Val Verde Gas Gathering Company, L.P., TE Products Pipeline Company, LLC and TEPPCO Midstream Companies, LLC, as subsidiary guarantors, and The Bank of New York Trust Company, N.A., as trustee.
 
   
4.3*
  Fourth Supplemental Indenture, dated June 30, 2007, by and among TEPPCO Partners, L.P., as issuer, TE Products Pipeline Company, Limited Partnership, TCTM, L.P., TEPPCO Midstream Companies, L.P., Val Verde Gas Gathering Company, L.P., TE Products Pipeline Company, LLC and TEPPCO Midstream Companies, LLC, as subsidiary guarantors, and U.S. Bank National Association, as trustee.
*    Filed herewith

 

 

Corporations Section
P.O.Box 13697
Austin, Texas 78711-3697
  (TEXAS STATE SEAL)   Phil Wilson
Secretary of State
Office of the Secretary of State
CERTIFICATE OF FILING
OF
TE Products Pipeline Company, LLC
File Number: 800838893
The undersigned, as Secretary of State of Texas, hereby certifies that a Certificate of Formation for the above named Domestic Limited Liability Company (LLC) has been received in this office and has been found to conform to the applicable provisions of law.
ACCORDINGLY, the undersigned, as Secretary of State, and by virtue of the authority vested in the secretary by law, hereby issues this certificate evidencing filing effective on the date shown below.
The issuance of this certificate does not authorize the use of a name in this state in violation of the rights of another under the federal Trademark Act of 1946, the Texas trademark law, the Assumed Business or Professional Name Act, or the common law.
Dated: 06/28/2007
Effective: 06/30/2007 11:58 pm
     
(TEXAS STATE SEAL)
 

(-S- PHIL WILSON)
               Phil Wilson
               Secretary of State
Come visit us on the internet at http://www.sos.state.tx.us/
Phoue: (512) 463-5555   Fax: (512) 463-5709   Dial: 7-1-1 for Relay Services
Prepared by: Lisa Sartin   TID: 10306   Document: 176856400002

 


 

     
    FILED
    In the Office of the
    Secretary of State of Texas
     
    JUN 28 2007
     
    Corporations Section
CERTIFICATE OF FORMATION
OF
TE PRODUCTS PIPELINE COMPANY, LLC
     This Certificate of Formation of TE Products Pipeline Company, LLC, having been duly executed by the undersigned organizer, is being filed to form a limited liability company under the Texas Limited Liability Company Law, part of the Texas Business Organization Code, as amended (the “ TLLCL ”).
1.   Entity Type and Name . The type offering entity being formed is a limited liability company, and the name of the limited liability company being formed is TE Products Pipeline Company, LLC.
2.   Purpose . The purpose for which the limited liability company is being formed is to engage in the transaction of any and all lawful business for which a limited liability company may be organized under the TLLCL.
3.   Registered Office and Registered Agent . The street address of the initial registered office of the limited liability company being formed is 1021 Main Street, Suite 1150, Houston, Texas 77002, and the name of its initial registered agent at such address is CT Corporation System.
4.   Organizer . The name and address of the organizer of the limited liability company being formed are as follows:
     
Name   Address
William G. Manias
  1100 Louisiana Street
Houston, Texas 77002
5.   Manager . The limited liability company being formed will be managed by a manager, and the name and address of the initial manager of the limited liability company being formed are as follows:
     
Name   Address
TEPPCOGP, Inc.
  1100 Louisiana Street
 
  Houston, Texas 77002
6.   Effective Date and Time . The formation of the limited liability company shall be effective at 11:58 p.m. on June 30, 2007.
      In Witness Whereof , the undersigned has executed this Certificate of Formation to be effective June 30, 2007.
(-S- WILLIAM G. MANIAS)
William G. Manias, Organizer

 

 

Exhibit 3.2
COMPANY AGREEMENT
OF
TE PRODUCTS PIPELINE COMPANY, LLC
     This Company Agreement (this “ Agreement ”) of TE Products Pipeline Company, LLC, a Texas limited liability company (the “ Company ”), is hereby adopted by TEPPCO GP, Inc., a Delaware corporation (“ TEPPCO GP ”), and TEPPCO Partners, L.P., a Delaware limited partnership (the “ MLP ”), to be effective June 30, 2007, in accordance with the Texas Limited Liability Company Law, part of the Texas Business Organizations Code, as amended (the “ TLLCL ”), to govern the affairs of the Company and the conduct of its business.
ARTICLE I
DEFINITIONS
     The following definitions shall for all purposes, unless otherwise clearly indicated to the contrary, apply to the terms used in this Agreement.
     “Affiliate” means, with respect to any Person, any other Person that directly or indirectly controls, is controlled by or is under common control with, the Person in question. As used herein, the term “control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through ownership of voting securities, by contract or otherwise.
     “Agreement” has the meaning given such term in the preamble hereto.
     “Certificate” means the Certificate of Formation filed with the Secretary of State of the State of Texas as referenced in Section 2.5, as such Certificate may be amended and/or restated from time to time.
     “Code” means the Internal Revenue Code of 1986, as amended and in effect from time to time, as interpreted by the applicable regulations thereunder. Any reference herein to a specific section or sections of the Code shall be deemed to include a reference to any corresponding provision of future law.
     “Company” has the meaning given such term in the preamble hereto.
     “Indemnitee” has the meaning given such term in Section 10.1(a).
     “Manager” means (i) TEPPCO GP in its capacity as the sole manager of the Company prior to its removal or resignation and (ii) any other Person designated as a manager of the Company pursuant to the terms of this Agreement.
     “Member” means TEPPCO GP and the MLP, in their respective capacities as members of the Company, or any other Person admitted to the Company from time to time as a member and that is shown as a member on the books and records of the Company.
     “Membership Interest” means the interest of a Member in the Company.

 


 

     “MLP” has the meaning given such term in the preamble hereto.
     “Percentage Interest” means, as of the date of such determination, (a) 0.001% as to TEPPCO GP and (b) 99.999% as to the MLP.
     “Person” means an individual or a corporation, partnership, limited liability company, trust, unincorproated organization, association or other entity.
     “Subsidiary” means a Person controlled by the Company directly, or indirectly through one or more intermediaries.
     “TEPPCO GP” has the meaning given such term in the preamble hereto.
     “TLLCL” has the meaning given such term in the preamble hereto.
ARTICLE II
ORGANIZATIONAL MATTERS
     Section 2.1 Formation . The Company was formed when its certificate of formation (the “ Certificate ”) was filed by an “organizer” (within the meaning of the TLLCL) with the Secretary of State of the State of Texas pursuant to and in accordance with the TLLCL. The execution of the Certificate by such organizer, and the filing of the Certificate with the Secretary of State of the State of Texas, are hereby ratified, confirmed and approved. Upon the filing of the Certificate with the Secretary of State of the State of Texas, such organizer’s powers as the “organizer” (within the meaning of the TLLCL) ceased. Except as expressly provided to the contrary in this Agreement, the rights, duties (including fiduciary duties), liabilities and obligations of the Members and the administration, winding up and termination of the Company shall be governed by the TLLCL. The Membership Interest of each Member shall be personal property for all purposes.
     Section 2.2 Name . The name of the Company shall be “TE Products Pipeline Company, LLC”. The Company’s business may be conducted under any other name or names deemed necessary or appropriate by the Manager, including, without limitation, the name of the Manager or any Affiliate thereof. The words “Limited Liability Company,” “LLC,” or similar words or letters shall be included in the Company’s name where necessary for the purposes of complying with the laws of any jurisdiction that so requires. The Manager in its sole discretion may change the name of the Company at any time and from time to time.
     Section 2.3 Registered Office; Principal Office . Unless and until changed by the Manager, the registered office of the Company in the State of Texas shall be located at 1021 Main Street, Suite 1150, Houston, Texas 77002, and the registered agent for service of process on the Company in the State of Texas at such registered office shall be CT Corporation System. The principal office of the Company and the address of the Manager shall be 1100 Louisiana Street, Houston, Texas 77002, or such other place as the Manager may from time to time designate. The Company may maintain offices at such other place or places within or outside the State of Texas as the Manager deems advisable.

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     Section 2.4 Term . The Company commenced upon the filing of the Certificate in accordance with the TLLCL and shall have perpetual existence, unless the Company is sooner terminated in accordance with the provisions of this Agreement. The existence of the Company as a separate legal entity shall continue until the termination of the Company as provided in the TLLCL.
     Section 2.5 Certificate of Formation . The organizer has caused the Certificate to be filed with the Secretary of State of the State of Texas as required by the TLLCL. The Manager shall use all reasonable efforts to cause to be filed such other certificates or documents as may be determined by the Manager in its sole discretion to be reasonable and necessary or appropriate for the formation, continuation, qualification and operation of a limited liability company in the State of Texas or any other state in which the Company may elect to do business or own property. To the extent that such action is determined by the Manager in its sole discretion to be reasonable and necessary or appropriate, the Manager shall file amendments to and restatements of the Certificate and do all things to maintain the Company as a limited liability company under the laws of the State of Texas or of any other state in which the Company may elect to do business or own property.
ARTICLE III
PURPOSE
     Section 3.1 Purpose and Business . The purpose and nature of the business to be conducted by the Company shall be (a) to engage in the common carrier transportation of refined petroleum products and liquefied petroleum gases and related products and related terminaling, storage and other activities through ownership of one or more pipeline systems, (b) to engage directly in, or to enter into or form any corporation, partnership, joint venture, limited liability company or similar arrangement to engage in, any business activity that may be lawfully conducted by a limited partnership organized pursuant to the TLLCL and, in connection therewith, to exercise all of the rights and powers conferred upon the Company pursuant to the agreements relating to such business activity, (c) to do anything necessary or appropriate to the foregoing (including, without limitation, the making of capital contributions or loans to any Subsidiary or in connection with its involvement in the activities referred to in clause (b) of this sentence), and (d) to engage in any other business activity as permitted under Texas law.
     Section 3.2 Powers . The Company shall be empowered to do any and all acts and things necessary, appropriate, proper, advisable, incidental to or convenient for the furtherance and accomplishment of the purposes and business described in Section 3.1 and for the protection and benefit of the Company.
ARTICLE IV
CAPITAL CONTRIBUTIONS
     Section 4.1 Prior Contributions . Prior to the date hereof, the Members, or their predecessors, have made capital contributions to the Company’s predecessor.

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     Section 4.2 Additional Contributions . The Members may contribute additional cash or property to the capital of the Company, but no Member has any obligation pursuant to this Agreement to make any such contribution.
     Section 4.3 Return of Contributions; Other Provisions Relating to Contributions. No Member shall be entitled to withdraw any part of its capital contributions or its capital account or to receive any distribution from the Company, except as provided in this Agreement. An unrepaid capital contribution is not a liability of the Company or any Member, and no interest shall accrue on capital contributions or on balances in the Members’ capital accounts.
     Section 4.4 Loans. A Member may make secured or unsecured loans to the Company, but no Member has any obligation pursuant to this Agreement to make any such loan. Loans by a Member to the Company shall not be considered capital contributions.
ARTICLE V
CAPITAL ACCOUNTS; ALLOCATIONS; DISTRIBUTIONS
     Section 5.1 Capital Accounts . The Company shall maintain for each Member a separate capital account in accordance with the regulations issued pursuant to Section 704 of the Code and as determined by the Manager as consistent therewith.
     Section 5.2 Allocations for Tax and Capital Account Purposes . For federal income tax purposes, each item of income, gain, loss, deduction and credit of the Company shall be allocated among the Members in accordance with their Percentage Interests, except that the Manager shall have the authority to make such other allocations as are necessary and appropriate to comply with Section 704 of the Code and the regulations issued pursuant thereto.
     Section 5.3 Distributions . The Company shall make distributions to the Members at such times, and in such forms and amounts, as the Manager may from time to time determine. Distributions in liquidation of the Company shall be made in accordance with the positive balances in the Members’ respective capital accounts maintained pursuant to Section 5.1. All other distributions shall be made to the Members in accordance with their respective Percentage Interests.
ARTICLE VI
MANAGEMENT AND OPERATIONS OF BUSINESS
     The Manager shall conduct, direct, and exercise full control over all activities of the Company. Except as otherwise expressly provided in this Agreement, all management powers over the business and affairs of the Company shall be exclusively vested in the Manager. The Manager shall be designated from time to time by the Members, and the Members may remove the Person serving as the Manager, with or without cause, at any time and may designate any other Person to serve as the Manager. In addition to the powers now or hereafter granted a manager under applicable law or which are granted to the Manager under any other provision of this Agreement, the Manager shall have full power and authority to do all things and on such terms as it, in its sole discretion, may deem necessary or desirable to conduct the business of the Company, to exercise all powers set forth in Section 3.2 and to effectuate the purposes set forth in Section 3.1.

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ARTICLE VII
RIGHTS AND OBLIGATIONS OF MEMBERS
     No Member, by virtue of its status as a member of the Company, shall have any management power over the business and affairs of the Company or actual or apparent authority to enter into contracts on behalf of, or to otherwise bind, the Company.
ARTICLE VIII
WINDING UP AND TERMINATION
     The Company shall terminate, and its affairs shall be wound up, upon (a) an event of resignation of the Manager, (b) a written consent of all of the Members, (c) a judicial decree ordering the winding up and termination of the Company under Section 11.301 of the TLLCL, (d) the sale of all or substantially all of the assets and properties of the Company and its Subsidiaries, taken as a whole, (e) the dissolution of the MLP, if such dissolution occurs while the MLP is a Member or (f) any other event requiring the winding up of the Company under the TLLCL; provided, however , that the Company shall not be terminated or required to be wound up by reason of any event of resignation of the Manager described in the preceding clause if within 90 days after the resignation, a majority of the Members agree by vote to continue the business of the Company and to the appointment of a manager of the Company.
ARTICLE IX
AMENDMENT OF COMPANY AGREEMENT
     The Manager may amend any provision of this Agreement without the consent of the Members and may execute, swear to, acknowledge, deliver, file and record whatever documents may be required in connection therewith, except that any amendment that would increase the liability of the Members or materially and adversely affect the rights of the Member under this Agreement requires the consent of the Members.
ARTICLE X
INDEMNIFICATION
     Section 10.1 Indemnification .
          (a) To the fullest extent permitted by law but subject to the limitations expressly provided in this Agreement, the Manager, the Members and any Person who is or was an officer or director of the Manager (each, an “ Indemnitee ”) shall each be indemnified and held harmless by the Company from and against any and all losses, claims, damages, liabilities (joint or several), expenses (including, without limitation, legal fees and expenses), judgments, fines, penalties, interest, settlements and other amounts arising from any and all claims, demands, actions, suits or proceedings, whether civil, criminal, administrative or investigative, in which any Indemnitee may be involved, or is threatened to be involved, as a party or otherwise, by reason of its status as an Indemnitee; provided , that the Indemnitee shall not be indemnified and held harmless if there has been a final and non-appealable judgment entered by a court of competent jurisdiction determining that, in respect of the matter for which the Indemnitee is seeking indemnification pursuant to this Section 10.1, the Indemnitee acted in bad faith or engaged in fraud, willful misconduct or, in the case of a criminal matter, acted with knowledge

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that the Indemnitee’s conduct was unlawful. Any indemnification pursuant to this Section 10.1 shall be made only out of the assets of the Company, it being agreed that the Members shall not be personally liable for such indemnification and shall have no obligation to contribute or loan any monies or property to the Company to enable it to effectuate such indemnification.
          (b) To the fullest extent permitted by law, expenses (including, without limitation, legal fees and expenses) incurred by an Indemnitee in defending any claim, demand, action, suit or proceeding shall, from time to time, be advanced by the Company prior to the final disposition of such claim, demand, action, suit or proceeding upon receipt by the Company of an undertaking by or on behalf of the Indemnitee to repay such amount if it shall be determined that the Indemnitee is not entitled to be indemnified as authorized in this Section 10.1.
          (c) The indemnification provided by this Section 10.1 shall be in addition to any other rights to which an Indemnitee may be entitled under any agreement, as a matter of law or otherwise, both as to actions in the Indemnitee’s capacity as an Indemnitee and as to actions in any other capacity, and shall continue as to an Indemnitee who has ceased to serve in such capacity.
          (d) The Company may purchase and maintain (or reimburse the Manager or its Affiliates for the cost of) insurance, on behalf of the Manager and such other Persons as the Manager shall determine, against any liability that may be asserted against or expense that may be incurred by such Person in connection with the Company’s activities, whether or not the Company would have the power to indemnify such Person against such liabilities under the provisions of this Agreement.
          (e) In no event shall the Members be subjected to personal liability by reason of the indemnification provisions set forth in this Agreement, whether by action of an Indemnitee or otherwise.
          (f) An Indemnitee shall not be denied indemnification in whole or in part under this Section 10.1 because the Indemnitee had an interest in the transaction with respect to which the indemnification applies if the transaction was otherwise permitted by the terms of this Agreement.
          (g) The provisions of this Section 10.1 are for the benefit of the Indemnitees, their heirs, successors and assigns and shall not be deemed to create any rights for the benefit of any other Persons.
          (h) No amendment, modification or repeal of this Section 10.1 or any provision hereof shall in any manner terminate, reduce or impair the right of any past, present or future Indemnitee to be indemnified by the Company, nor the obligation of the Company to indemnify any such Indemnitee under and in accordance with the provisions of this Section 10.1 as in effect immediately prior to such amendment, modification or repeal with respect to claims arising from or relating to matters occurring, in whole or in part, prior to such amendment, modification or repeal, regardless of when such claims may arise or be asserted.
          (i) THE PROVISIONS OF THE INDEMNIFICATION PROVIDED IN THIS SECTION 10.1 ARE INTENDED BY THE PARTIES TO APPLY EVEN IF SUCH PROVISIONS HAVE THE EFFECT OF EXCULPATING THE INDEMNITEE FROM LEGAL RESPONSIBILITY FOR THE CONSEQUENCES OF SUCH PERSON’S NEGLIGENCE, FAULT OR OTHER CONDUCT.

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     Section 10.2 Liability of Indemnitees .
          (a) Notwithstanding anything to the contrary set forth in this Agreement, no Indemnitee shall be liable for monetary damages to the Company or any Member for losses sustained or liabilities incurred as a result of any act or omission of an Indemnitee unless there has been a final and non-appealable judgment entered by a court of competent jurisdiction determining that, in respect of the matter in question, the Indemnitee acted in bad faith or engaged in fraud, willful misconduct or, in the case of a criminal matter, acted with knowledge that the Indemnitee’s conduct was criminal.
          (b) Subject to its obligations and duties as the Manager set forth in Article VI, the Manager may exercise any of the powers granted to it by this Agreement and perform any of the duties imposed upon it hereunder either directly or by or through its agents, and the Manager shall not be responsible for any misconduct or negligence on the part of any such agent appointed by the Manager in good faith.
          (c) Any amendment, modification or repeal of this Section 10.2 or any provision hereof shall be prospective only and shall not in any way affect the limitations on the liability of an Indemnitee under this Section 10.2 as in effect immediately prior to such amendment, modification or repeal with respect to claims arising from or relating to matters occurring, in whole or in part, prior to such amendment, modification or repeal, regardless of when such claims may arise or be asserted.
ARTICLE XI
BOOKS AND RECORDS
     The Manager shall keep or cause to be kept at the principal office of the Company appropriate books and records with respect to the Company’s business including, without limitation, all books and records necessary to provide to the Members any information, lists, and copies of documents required to be provided pursuant to the TLLCL. Any such records may be maintained in other than a written form if such form is capable of conversion into a written form within a reasonable time.
ARTICLE XII
GENERAL PROVISIONS
     Section 12.1 Addresses and Notices . Any notice, demand, request or report required or permitted to be given or made to a Member under this Agreement shall be in writing and shall be deemed given or made if received by it at the principal office of the Company referred to in Section 2.3.
     Section 12.2 Titles and Captions . All article or section titles or captions in this Agreement are for convenience only. They shall not be deemed part of this Agreement and in no way define, limit, extend or describe the scope or intent of any provisions hereof. Except as specifically provided otherwise, references to “Articles” and “Sections” are to articles and sections of this Agreement.

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     Section 12.3 Pronouns and Plurals . Whenever the context may require, any pronoun used in this Agreement shall include the corresponding masculine, feminine or neuter forms, and the singular form of nouns, pronouns and verbs shall include the plural and vice-versa.
     Section 12.4 Binding Effect . This Agreement shall be binding upon and inure to the benefit of the parties hereto and their successors, legal representatives and permitted assigns.
     Section 12.5 Integration . This Agreement constitutes the entire agreement among the parties hereto pertaining to the subject matter hereof and supersedes all prior agreements and understandings pertaining thereto.
     Section 12.6 Creditors. None of the provisions of this Agreements shall be for the benefit of, or shall be enforceable by, any creditor of the Company.
     Section 12.7 Waiver. No failure by any party to insist upon the strict performance of any covenant, duty, agreement or condition of this Agreement or to exercise any right or remedy consequent upon a breach thereof shall constitute waiver of any such breach or any other covenant, duty, agreement or condition.
     Section 12.8 Applicable Law . This Agreement shall be construed in accordance with and governed by the laws of the State of Texas, without regard to the principles of conflicts of law.
     Section 12.9 Invalidity of Provisions . If any provision of this Agreement is or becomes invalid, illegal or unenforceable in any respect, the validity, legality and enforceability of the remaining provisions contained herein shall not be affected thereby.
     Section 12.10 Counterparts . This Agreement may be executed in counterparts, all of which together shall constitute an agreement binding on all the parties hereto, notwithstanding that all such parties are not signatories to the original or the same counterpart.
* * * Remainder of this page intentionally left blank * * *

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     IN WITNESS WHEREOF, this Agreement has been duly executed by the Members as of the date first above written.
         
  MEMBERS:

TEPPCO GP, INC.
 
 
  By:   /s/ William G. Manias    
    Name:   William G. Manias  
    Title:   Vice President and Chief Financial Officer   
 
 
  TEPPCO PARTNERS, L.P.
 
 
  By:   Texas Eastern Products Pipeline Company, LLC,    
    its sole general partner   
     
  By:   /s/ William G. Manias    
    Name:   William G. Manias   
    Title:   Vice President and Chief Financial Officer   
 

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Exhibit 4.1
FIRST SUPPLEMENTAL INDENTURE
      FIRST SUPPLEMENTAL INDENTURE (this “Supplemental Indenture” ) dated as of June 30, 2007, between TE Products Pipeline Companies, LLC , a Texas limited liability company (“ TE Products ”), and The Bank of New York Trust Company, N.A. , a national association, as successor trustee to The Bank of New York , as trustee under the indenture referred to below (in such capacity, the “Trustee” ).
WITNESSETH:
     WHEREAS, TE Products Pipeline Company, Limited Partnership, a Texas limited partnership (formerly a Delaware limited partnership, the “ Company ”), has heretofore executed and delivered to the Trustee an Indenture dated as of January 27, 1998 (the “ Indenture ”), providing for the Company’s issuance of two series of Securities known as the Company’s 6.45% Senior Notes due 2008 and its 7.51% Senior Notes due 2028 and other Securities in one or more series unlimited as to principal amount;
     WHEREAS, pursuant to an Agreement and Plan of Merger dated as of June 30, 2007, between the Company and TE Products, the Company is, concurrently with the execution and delivery of this First Supplemental Indenture, merging with and into TE Products (the “ Merger ”), TE Products being the surviving company and retaining the name “TE Products Pipeline Company, LLC;”
     WHEREAS, Section 801(1) of the Indenture provides that TE Products, as the surviving company of the Merger, is required to expressly assume, by an indenture supplemental to the Indenture, the due and punctual payment of the principal of and any premium and interest on all the Securities and the performance or observance of every covenant of the Indenture on the part of the Company to be performed or observed;
     WHEREAS, Section 901(1) of the Indenture permits the execution of supplemental indentures without the consent of any Holders to evidence the succession of another Person to the Company and the assumption by any such successor of the covenants of the Company in the Indenture and in the Securities;
     WHEREAS, pursuant to the foregoing authority, TE Products proposes, in and by this First Supplemental Indenture, to supplement and amend the Indenture;
     WHEREAS, all things necessary to make this First Supplemental Indenture a valid agreement of TE Products, in accordance with its terms, have been done;
     NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, TE Products and the Trustee mutually covenant and agree for the equal and proportionate benefit of the Holders of the Securities, as follows:
     1.  Capitalized Terms . Capitalized terms used herein and not defined herein shall have the meaning ascribed to them in the Indenture.

 


 

     2.  Succession by Merger. As of the effective time of the Merger, (i) TE Products shall become the successor to the Company for all purposes of the Indenture, (ii) TE Products hereby expressly assumes the due and punctual payment of the principal of and any premium and interest on all the Securities and the performance or observance of every covenant of the Indenture on the part of the Company to be performed or observed and (iii) the Company shall be relieved of all obligations and covenants under the Indenture and the Securities. References in the Indenture to the term “General Partner” shall hereafter be deemed to refer to the “Manager” of TE Products, as such term is defined and used in the organizational documents of TE Products, or any other Person of a position comparable thereto as provided in such documents; provided, however, that such Manager or any other such comparable Person is not a general partner of TE Products and, accordingly, that provisions applicable to the “General Partner” in the Indenture in its capacity as, and as a result of, its status as a general partner of a limited partnership shall cease to be applicable.
     3.  Ratification. The Indenture and the Securities, as hereby amended and supplemented, are ratified and confirmed in all respects and shall continue to be in full force and effect. From and after the date hereof, this First Supplemental Indenture shall form a part of the Indenture for all purposes, and every Holder of Securities heretofore or hereafter authenticated and delivered shall be bound hereby.
     4.  NEW YORK LAW TO GOVERN. THIS SUPPLEMENTAL INDENTURE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.
     5.  Counterparts . The parties may sign any number of counterparts of this Supplemental Indenture, each of which shall be an original; but such counterparts shall together constitute but one and the same instrument.
     6.  Effect of Headings. The headings herein are for convenience only and shall not affect the construction hereof.

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     IN WITNESS WHEREOF, the parties hereto have caused this First Supplemental Indenture to be duly executed as of the day and year first above written.
         
 
       
    TE PRODUCTS PIPELINE COMPANY, LLC
 
       
`
  By   TEPPCO GP, Inc.,
Its Manager
 
       
 
  By:   /s/ William G. Manias
 
       
 
      Name: William G. Manias
 
      Title: Vice President and Chief Financial Officer
 
       
    THE BANK OF NEW YORK TRUST COMPANY, N.A., as Trustee
 
       
 
  By:   /s/ Alma Marcella Burgess
 
       
 
      Name: Alma Marcella Burgess
 
      Title: Assistant Vice President

Signature Page to First Supplemental Indenture

 

 

Exhibit 4.2
SECOND SUPPLEMENTAL INDENTURE
      SECOND SUPPLEMENTAL INDENTURE (this “Supplemental Indenture” ) dated as of June 30, 2007, among TEPPCO Partners, L.P., a Delaware limited partnership (the “Partnership” ), TE Products Pipeline Company, Limited Partnership , a Texas limited partnership (formerly a Delaware limited partnership, “TE Products” ), TCTM, L.P. , a Delaware limited partnership ( “TCTM” ), TEPPCO Midstream Companies, L.P. , a Texas limited partnership (formerly a Delaware limited partnership, “TEPPCO Midstream” ), Val Verde Gas Gathering Company, L.P., a Delaware limited partnership (“ Val Verde” , and together with TE Products, TCTM and TEPPCO Midstream, the “Existing Subsidiary Guarantors” ), TE Products Pipeline Company, LLC , a Texas limited liability company, TEPPCO Midstream Companies, LLC, a Texas limited liability company (together with TE Products Pipeline Company, LLC, the “New Subsidiary Guarantors” ), and The Bank of New York Trust Company, N.A. , as trustee under the Indenture referred to below (in such capacity, the “Trustee” ).
WITNESSETH:
     WHEREAS, the Partnership and the Existing Subsidiary Guarantors have heretofore executed and delivered to the Trustee an Indenture dated as of May 14, 2007 (the “Original Indenture” ), providing for the Partnership’s issuance, from time to time, of its Debt Securities in one or more series unlimited as to principal amount, and the Guarantees by each of the Subsidiary Guarantors of the Debt Securities;
     WHEREAS, the Partnership and the Existing Subsidiary Guarantors have heretofore executed and delivered to the Trustee a First Supplemental Indenture dated as of May 18, 2007 (the “First Supplemental Indenture , and together with the Original Indenture, the “ Indenture ”), providing for the Partnership’s issuance of the initial series of its Debt Securities under the Indenture, such series known as the Partnership’s 7.000% Fixed/Floating Rate Junior Subordinated Notes due 2067 (the “2067 Notes” );
     WHEREAS, Section 9.01(h) of the Indenture authorizes the Partnership, the Subsidiary Guarantors and the Trustee, from time to time and at any time, and without the consent of the Holders, to enter into one or more indentures supplemental to the Indenture to add Subsidiary Guarantors with respect to any or all Debt Securities;
     WHEREAS, the New Subsidiary Guarantors are Subsidiaries of the Partnership and the Partnership desires to cause each New Subsidiary Guarantor, and each New Subsidiary Guarantor desires to become, a Subsidiary Guarantor with respect to the 2067 Notes;
     WHEREAS, Section 9.01 of the Indenture authorizes the Trustee to join with the Partnership and the Subsidiary Guarantors in the execution of this Supplemental Indenture for the purpose of adding a Subsidiary Guarantor, and further provides that any such supplemental indenture may be executed by the Partnership, the Subsidiary Guarantors and the Trustee without the consent of the Holders of any Debt Securities at the time Outstanding; and

 


 

     WHEREAS, all things necessary have been done to make the Guarantee of the 2067 Notes by each New Subsidiary Guarantor the valid obligation of such New Subsidiary Guarantor and to make this Supplemental Indenture a valid agreement of the Partnership, the Existing Subsidiary Guarantors and the New Subsidiary Guarantors, in accordance with their respective terms;
     NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Partnership, the Existing Subsidiary Guarantors, the New Subsidiary Guarantors and the Trustee mutually covenant and agree for the equal and proportionate benefit of the Holders of the 2067 Notes as follows:
     1.  Capitalized Terms . Capitalized terms used herein and not defined herein shall have the meaning ascribed to them in the Indenture.
     2.  Agreement to Guarantee . Each New Subsidiary Guarantor hereby agrees, jointly and severally with all other Subsidiary Guarantors, fully, unconditionally and absolutely to guarantee, to the extent set forth in the Indenture and subject to the provisions of the Indenture, the due and punctual payment of the principal of, and the premium, if any, and interest on, the 2067 Notes and all other amounts due and payable by the Partnership under the Indenture and the 2067 Notes, and to be bound by all other provisions of the Indenture applicable to Subsidiary Guarantors. Further, each New Subsidiary Guarantor acknowledges and agrees that its obligations to the Holders of the 2067 Notes and to the Trustee pursuant to the Guarantee and the Indenture are expressly set forth in Article XIV of the Indenture, and reference is hereby made to the Indenture for the precise terms of the Guarantee.
     3.  No Recourse Against Others. The General Partner, the Persons who formed the General Partner and the General Partner’s directors, officers, employees, incorporators and members, as such, shall have no liability for any obligations of the Partnership or the Subsidiary Guarantors under the 2067 Notes, the Guarantees, the Indenture or this Supplemental Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. By accepting a 2067 Note, each Holder waived and released all such liability. Such waiver and release are a part of the consideration for issuance of the 2067 Notes.
     4.  NEW YORK LAW TO GOVERN. THIS SUPPLEMENTAL INDENTURE AND THE GUARANTEES PROVIDED FOR HEREIN SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF NEW YORK.
     5.  Counterparts . The parties may sign any number of counterparts of this Supplemental Indenture, each of which shall be an original; but such counterparts shall together constitute but one and the same instrument.
     6.  Effect of Headings. The headings herein are for convenience only and shall not affect the construction hereof.
[ Remainder of page intentionally left blank; signature pages follow ]

-2-


 

     IN WITNESS WHEREOF, the parties have caused this Supplemental Indenture to be duly executed and delivered, all as of the date first above written.
         
 
       
    TEPPCO Partners, L.P .
 
       
 
  By   Texas Eastern Products Pipeline Company, LLC,
 
      Its General Partner
 
       
 
  By:   /s/ William G. Manias
 
       
 
      William G. Manias
 
      Vice President and Chief Financial Officer
 
       
    TE Products Pipeline Company, Limited Partnership
 
       
 
  By   TEPPCO GP, Inc.,
 
      Its General Partner
 
       
 
  By:   /s/ William G. Manias
 
       
 
      William G. Manias
 
      Vice President and Chief Financial Officer
 
       
 
       
    TCTM, L.P.
 
       
 
  By   TEPPCO GP, Inc.,
 
      Its General Partner
 
       
 
  By:   /s/ William G. Manias
 
       
 
      William G. Manias
 
      Vice President and Chief Financial Officer
 
       
    TEPPCO Midstream Companies, L.P.
 
       
 
  By   TEPPCO GP, Inc.,
 
      Its General Partner
 
       
 
  By:   /s/ William G. Manias
 
       
 
      William G. Manias
 
      Vice President and Chief Financial Officer
Signature Page to Second Supplemental Indenture

 


 

         
 
       
    Val Verde Gas Gathering Company, L.P.
 
       
 
  By   TEPPCO NGL Pipelines, LLC,
 
      Its General Partner
 
       
 
  By:   /s/ William G. Manias
 
       
 
      William G. Manias
 
      Vice President and Chief Financial Officer
 
       
    TE Products Pipeline Company, LLC
 
       
 
  By   TEPPCO GP, Inc.,
 
      Its Manager
 
       
 
  By:   /s/ William G. Manias
 
       
 
      William G. Manias
 
      Vice President and Chief Financial Officer
 
       
    TEPPCO Midstream Companies, LLC
 
       
 
  By   TEPPCO GP, Inc.,
 
      Its Manager
 
       
 
  By:   /s/ William G. Manias
 
       
 
      William G. Manias
 
      Vice President and Chief Financial Officer
 
       
    The Bank of New York Trust Company, N.A.
as Trustee
 
       
 
  By:   /s/ Alma Marcella Burgess
 
       
 
      Alma Marcella Burgess
 
      Assistant Vice President
Signature page to Second Supplemental Indenture

 

 

Exhibit 4.3
FOURTH SUPPLEMENTAL INDENTURE
      FOURTH SUPPLEMENTAL INDENTURE (this “Supplemental Indenture” ) dated as of June 30, 2007, among TEPPCO Partners, L.P., a Delaware limited partnership (the “Partnership” ), TE Products Pipeline Company, Limited Partnership , a Texas limited partnership (formerly a Delaware limited partnership, “TE Products” ), TCTM, L.P. , a Delaware limited partnership ( “TCTM” ), TEPPCO Midstream Companies, L.P. , a Texas limited partnership (formerly a Delaware limited partnership, “TEPPCO Midstream” ), Val Verde Gas Gathering Company, L.P., a Delaware limited partnership (“ Val Verde” , and together with TE Products, TCTM and TEPPCO Midstream, the “Existing Subsidiary Guarantors” ), TE Products Pipeline Company, LLC , a Texas limited liability company, TEPPCO Midstream Companies, LLC, a Texas limited liability company (together with TE Products Pipeline Company, LLC, the “New Subsidiary Guarantors” ), and U.S. Bank National Association (as successor trustee to Wachovia Bank, National Association ), as trustee under the Indenture referred to below (in such capacity, the “Trustee” ).
WITNESSETH:
     WHEREAS, the Partnership and the Existing Subsidiary Guarantors (other than Val Verde) have heretofore executed and delivered to the Trustee an Indenture dated as of February 20, 2002 (the “Original Indenture” ), providing for the Partnership’s issuance, from time to time, of its Debt Securities in one or more series unlimited as to principal amount, and the Guarantees by each of the Subsidiary Guarantors of the Debt Securities;
     WHEREAS, the Partnership and the Existing Subsidiary Guarantors (other than Val Verde) have heretofore executed and delivered to the Trustee a First Supplemental Indenture dated as of February 20, 2002 (the “First Supplemental Indenture” ), providing for the Partnership’s issuance of the initial series of its Debt Securities under the Indenture, such series known as the Partnership’s 7.625% Senior Notes due 2012 (the “2012 Notes” );
     WHEREAS, the Partnership and the Existing Subsidiary Guarantors have heretofore executed and delivered to the Trustee a Second Supplemental Indenture dated as of June 27, 2002 (the “ Second Supplemental Indenture ”), providing for the addition of Val Verde as a Subsidiary Guarantor;
     WHEREAS, the Partnership and the Existing Subsidiary Guarantors have heretofore executed and delivered to the Trustee a Third Supplemental Indenture dated as of January 30, 2003 (the “ Third Supplemental Indenture ”, and together with the Original Indenture, the First Supplemental Indenture and the Second Supplemental Indenture, the “ Indenture ”), providing for the Partnership’s issuance of an additional series of its Debt Securities under the Indenture, such series known as the Partnership’s 6.125% Senior Notes due 2013 (the “ 2013 Notes ”);
     WHEREAS, Section 9.01(g) of the Indenture authorizes the Partnership, the Subsidiary Guarantors and the Trustee, from time to time and at any time, and without the consent of the Holders, to enter into one or more indentures supplemental to the Indenture to add Subsidiary Guarantors with respect to any or all Debt Securities;

 


 

     WHEREAS, the New Subsidiary Guarantors are Subsidiaries of the Partnership and the Partnership desires to cause each New Subsidiary Guarantor, and each New Subsidiary Guarantor desires to become, a Subsidiary Guarantor with respect to the 2012 Notes and the 2013 Notes;
     WHEREAS, Section 9.01 of the Indenture authorizes the Trustee to join with the Partnership and the Subsidiary Guarantors in the execution of this Supplemental Indenture for the purpose of adding a Subsidiary Guarantor, and further provides that any such supplemental indenture may be executed by the Partnership, the Subsidiary Guarantors and the Trustee without the consent of the Holders of any Debt Securities at the time Outstanding; and
     WHEREAS, all things necessary have been done to make the Guarantee of the 2012 Notes and the 2013 Notes by each New Subsidiary Guarantor the valid obligation of such New Subsidiary Guarantor and to make this Supplemental Indenture a valid agreement of the Partnership, the Existing Subsidiary Guarantors and the New Subsidiary Guarantors, in accordance with their respective terms;
     NOW, THEREFORE, in consideration of the foregoing and for other good and valuable consideration, the receipt of which is hereby acknowledged, the Partnership, the Existing Subsidiary Guarantors, the New Subsidiary Guarantors and the Trustee mutually covenant and agree for the equal and proportionate benefit of the Holders of the 2012 Notes and the 2013 Notes as follows:
     1.  Capitalized Terms . Capitalized terms used herein and not defined herein shall have the meaning ascribed to them in the Indenture.
     2.  Agreement to Guarantee . Each New Subsidiary Guarantor hereby agrees, jointly and severally with all other Subsidiary Guarantors, fully, unconditionally and absolutely to guarantee, to the extent set forth in the Indenture and subject to the provisions of the Indenture, the due and punctual payment of the principal of, and the premium, if any, and interest on, the 2012 Notes, the 2013 Notes and all other amounts due and payable by the Partnership under the Indenture, the 2012 Notes and the 2013 Notes, and to be bound by all other provisions of the Indenture applicable to Subsidiary Guarantors. Further, each New Subsidiary Guarantor acknowledges and agrees that its obligations to the Holders of the 2012 Notes and the 2013 Notes and to the Trustee pursuant to the Guarantee and the Indenture are expressly set forth in Article XIV of the Indenture, and reference is hereby made to the Indenture for the precise terms of the Guarantee.
     3.  No Recourse Against Others. The General Partner, the Persons who formed the General Partner and the General Partner’s directors, officers, employees, incorporators and members, as such, shall have no liability for any obligations of the Partnership or the Subsidiary Guarantors under the 2012 Notes, the 2013 Notes, the Guarantees, the Indenture or this Supplemental Indenture or for any claim based on, in respect of, or by reason of, such obligations or their creation. By accepting a 2012 Note or a 2013 Note, each Holder waived and released all such liability. Such waiver and release are a part of the consideration for issuance of the 2012 Notes and the 2013 Notes, respectively.

-2-


 

     4.  NEW YORK LAW TO GOVERN. THIS SUPPLEMENTAL INDENTURE AND THE GUARANTEES PROVIDED FOR HEREIN SHALL BE DEEMED TO BE A NEW YORK CONTRACT AND FOR ALL PURPOSES SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF SAID STATE.
     5.  Counterparts . The parties may sign any number of counterparts of this Supplemental Indenture, each of which shall be an original; but such counterparts shall together constitute but one and the same instrument.
     6.  Effect of Headings. The headings herein are for convenience only and shall not affect the construction hereof.
[ Remainder of page intentionally left blank; signature pages follow ]

-3-


 

     IN WITNESS WHEREOF, the parties have caused this Supplemental Indenture to be duly executed and delivered, all as of the date first above written.
         
 
       
    TEPPCO Partners, L.P .
 
       
 
  By   Texas Eastern Products Pipeline Company, LLC,
 
      Its General Partner
 
       
 
  By:   /s/ William G. Manias
 
       
 
      William G. Manias
 
      Vice President and Chief Financial Officer
 
       
    TE Products Pipeline Company, Limited Partnership
 
       
 
  By   TEPPCO GP, Inc.,
 
      Its General Partner
 
       
 
  By:   /s/ William G. Manias
 
       
 
      William G. Manias
 
      Vice President and Chief Financial Officer
 
       
    TCTM, L.P.
 
       
 
  By   TEPPCO GP, Inc.,
 
      Its General Partner
 
       
 
  By:   /s/ William G. Manias
 
       
 
      William G. Manias
 
      Vice President and Chief Financial Officer
 
       
    TEPPCO Midstream Companies, L.P.
 
       
 
  By   TEPPCO GP, Inc.,
 
      Its General Partner
 
       
 
  By:   /s/ William G. Manias
 
       
 
      William G. Manias
 
      Vice President and Chief Financial Officer
Signature Page to Fourth Supplemental Indenture

 


 

         
 
       
    Val Verde Gas Gathering Company, L.P.
 
       
 
  By   TEPPCO NGL Pipelines, LLC,
 
      Its General Partner
 
       
 
  By:   /s/ William G. Manias
 
       
 
      William G. Manias
 
      Vice President and Chief Financial Officer
 
       
    TE Products Pipeline Company, LLC
 
       
 
  By   TEPPCO GP, Inc.,
 
      Its Manager
 
       
 
  By:   /s/ William G. Manias
 
       
 
      William G. Manias
 
      Vice President and Chief Financial Officer
 
       
    TEPPCO Midstream Companies, LLC
 
       
 
  By   TEPPCO GP, Inc.,
 
      Its Manager
 
       
 
  By:   /s/ William G. Manias
 
       
 
      William G. Manias
 
      Vice President and Chief Financial Officer
 
       
    U.S. Bank National Association
as Trustee
 
       
 
  By:   /s/ Steven A. Finklea
 
       
 
      Steven A. Finklea
 
      Vice President
Signature Page to Fourth Supplemental Indenture